Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 34

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 September 30, 2025 and 2024
(in thousands):

    Related Party Convertible Debt Payable, at Fair Value 
  
    Fair value as of January 1, 2025 
    $2,234 
  
    Loss on change in the fair value of related party convertible debt 
     156 
  
    Fair value as of March 31, 2025 
     2,390 
  
    Loss on change in the fair value of related party convertible debt 
     153 
  
    Fair value as of June 30, 2025 
     2,543 
  
    Assumption of related party convertible note upon closing of the Business Combination 
     2,162 
  
    Gain on change in the fair value of related party convertible debt 
     (578)
  
    Fair value as of September 30, 2025 
    $4,127 

    Related Party Convertible Debt Payable, at Fair Value 
  
    Fair value as of January 1, 2024 
    $1,714 
  
    Issuance of Tasly Convertible Notes 
     16 
  
    Loss on change in the fair value of related party convertible debt 
     44 
  
    Fair value as of March 31, 2024 
     1,774 
  
    Loss on change in the fair value of related party convertible debt 
     64 
  
    Fair value as of June 30, 2024 
     1,838 
  
    Loss on change in the fair value of related party convertible debt 
     320 
  
    Fair value as of September 30, 2024 
    $2,158 

The Company has included a reclassification of $49 thousand and $145
thousand of interest was reclassified from interest expense into gain (loss) on change in the fair value of related party convertible
debt for the three and nine months ended September 30, 2024, respectively. This reclassification has no impact on total other income (expense)
or net loss and comprehensive net loss. 

Loan Payable - Related Party

The Company uses a Monte Carlo simulation model to value the Loan Payable
- Related Party. The Loan Payable - Related Party were classified within Level 3 of the fair value hierarchy due to the use of unobservable
inputs. Inherent in pricing models are assumptions related to expected share-price volatility, expected life and risk-free