Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 522

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 522
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 Reporting,” establishes standards for companies to report in their financial statement information
about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components
of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial
information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how
to allocate resources and assess performance.

The Company’s chief operating decision maker
(“CODM”) has been identified as its Chief Financial Officer, who reviews the assets, operating results, and financial metrics
for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has
determined that there is only one reportable segment.

The
CODM assesses performance for the single segment and decides how to allocate resources based on net loss that also is reported on the
statement of operations as net loss. The measure of segment assets is reported on the balance sheet as total assets. When evaluating
the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics included
in net (loss) income and total assets, which include the following:

    For the Year Ended December 31, 2024  
    For the Year Ended  December 31, 2023 
  
    Trust Account 
    $8,330,835  
    $10,873,406 
  
    Cash 
    $16,204  
    $4,519 

    For the Year Ended December 31, 2024  
    For the Year Ended  December 31, 2023 
  
    General and administrative expenses 
    $(1,351,038) 
    $(1,508,683)
  
    Interest earned on the Trust Account 
    $425,416  
    $2,248,538 

The
key measures of segment profit or loss reviewed by our CODM are interest earned on the Trust Account and general and administrative expenses.
The CODM reviews interest earned on the Trust Account to measure and monitor stockholder value and determine the most effective strategy
of investment with the Trust Account funds while maintaining compliance with the trust agreement. General and administrative expenses
are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination
within the business combination period. The CODM also reviews general and administrative costs to manage, maintain and enforce all contractual