Financial stability is increasingly compromised as total assets have plummeted to $10.6M while the debt-to-equity ratio has surged to 21.87 as of 2025Q2.
| Cash & Short Term Investments | 349.95K | 56.77K | 17.58K | 262.76K | 5K |
| Cash & Due from Banks | 160.72K | 56.77K | 17.58K | 262.76K | 5K |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 0 | 0 | 61.84M | 118.98K | 0 |
| Investments Growth % | -400% | -100% | 51876.17% | - | - |
| Long-Term Investments | 0 | 0 | 61.84M | 118.98K | 0 |
| Accounts Receivables | 1.22M | 1.62M | 0 | 0 | 0 |
| Goodwill & Intangibles | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 9.13M | 26.45M | 0 | 118.94M | 135.46K |
| Total Current Assets | 1.45M | 1.67M | 938.53K | 420.37K | 5K |
| Total Non-Current Assets | 9.13M | 26.45M | 61.84M | 119.05M | 135.46K |
| Total Assets | 10.58M | 28.12M | 62.78M | 119.47M | 140.46K |
| Asset Growth % | -229.21% | -55.21% | -47.46% | 84962.55% | - |
| Return on Assets (ROA) | -6.15% | -1.64% | 3.2% | 1.17% | -0.31% |
| Accounts Payable | 942.52K | 1.15M | 295.14K | 130.22K | 0 |
| Total Debt | 4.36M | 3.95M | 2.92M | 144.44K | 100.89K |
| Net Debt | 4.2M | 3.89M | -17.58K | -118.31K | 95.89K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 |
| Short-Term Debt | 4.36M | 3.95M | 2.92M | 144.44K | 100.89K |
| Other Liabilities | 3.45M | 3.45M | 3.45M | 3.45M | 0 |
| Total Current Liabilities | 6.93M | 24.44M | 2.12M | 787.63K | 115.89K |
| Total Non-Current Liabilities | 3.45M | 3.45M | 3.45M | 3.45M | 0 |
| Total Liabilities | 10.38M | 27.89M | 5.57M | 4.24M | 115.89K |
| Total Equity | 199.39K | 226.07K | 57.21M | 115.24M | 24.56K |
| Equity Growth % | -361.99% | -99.6% | -50.36% | 469067.71% | - |
| Equity / Assets (Capital Ratio) | 1.88% | 0.8% | 91.12% | 96.45% | 17.49% |
| Return on Equity (ROE) | -24.61% | -2.6% | 3.38% | 1.21% | -1.78% |
| Book Value per Share | 0.05 | 0.09 | 4.47 | 7.68 | 0.01 |
| Tangible BV per Share | 0.05 | 0.09 | 4.47 | 7.68 | 0.01 |
| Common Stock | 9.78M | 9.08M | 352 | 118.47M | 288 |
| Additional Paid-in Capital | 0 | 0 | 0 | 0 | 24.71K |
| Retained Earnings | -9.58M | -8.86M | -3.33M | -3.23M | -438 |
| Accumulated OCI | 0 | 0 | -352 | -118.47M | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 60.53M | 118.47M | 0 |
Imminent Liquidation and Insolvency
As reported in recent financial statements, FTII's total assets have plummeted from $124.2M in 2023Q2 to just $10.6M by 2025Q2, signaling a severe contraction in the company's capital base as it struggles to maintain its public listing while failing to secure a merger target.
The consistent decline in total assets reflects the ongoing redemption of shares by investors, which effectively drains the trust account and limits the company's future deal-making capacity. This downward trajectory suggests that the vehicle is losing its relevance to the market, potentially forcing management into a sub-optimal business combination to avoid total liquidation.
Based on the latest quarterly data, FTII's debt-to-equity ratio has surged to 21.87 in 2025Q2, indicating an increasing reliance on sponsor-provided debt to fund administrative overhead as the company's internal cash reserves remain insufficient to cover ongoing regulatory and operational search costs.
The shift from zero debt in early 2024 to $4.4M in 2025Q2 highlights a transition toward debt-funded survival, which complicates the capital structure for any potential future merger. Investors should monitor whether these liabilities are convertible or forgivable, as they may represent a significant hidden cost that dilutes the value of public equity.
According to the 2025Q2 balance sheet, FTII holds only $160.7K in cash against a current ratio of 0.21, which underscores a precarious liquidity position that leaves the company with virtually no buffer against unexpected regulatory expenses or further delays in the merger process.
A current ratio of 0.21 is indicative of severe liquidity distress, suggesting that the company is unable to meet its short-term obligations without continuous capital injections from the sponsor. This lack of liquidity effectively removes any bargaining power the company might have had in negotiations with potential technology targets.
As indicated by the company's financial filings, retained earnings have deteriorated to a deficit of $9.6M as of 2025Q2, reflecting the persistent accumulation of operating losses that have eroded the original equity base provided by initial public investors.
The erosion of equity highlights the lack of value creation since the company's inception, as capital is consumed by fixed administrative costs rather than being deployed into productive assets. This trend suggests that the remaining equity value is highly sensitive to further dilution, particularly if additional sponsor loans are converted into equity to keep the entity solvent.
Based on the provided data, the rapid accumulation of $4.4M in debt relative to a mere $199.4K in equity suggests that the company's headline solvency is heavily dependent on sponsor support, which may mask the true economic cost of maintaining this shell vehicle.
The reliance on sponsor debt creates a potential conflict of interest, as the terms of these loans may prioritize the sponsor's recovery over the interests of public shareholders in a merger scenario. Analysts should be wary that the current balance sheet may not fully account for deferred underwriting fees, which could further impair the net asset value upon the closing of a transaction.
Quick answers to the most common questions about buying FTII stock.
As of 2024, FutureTech II Acquisition Corp. (FTII) had total assets of $28.1M including $1.7M in current assets.
FutureTech II Acquisition Corp. (FTII) carries total debt of $4.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
FutureTech II Acquisition Corp. (FTII) has total shareholders' equity (book value) of $0.2M ($0.09 book value per share). Book value represents the net worth of the company belonging to common stock holders.
FutureTech II Acquisition Corp. (FTII) reported a current ratio of 0.07x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.