Company: PFSA
Filing Date: 2025-07-18
Form Type: 8-K
Source: 0001213900-25-065686
Chunk: 45

Company: Profusa, Inc.
Filing Date: 2025-07-18
Form: 8-K
Chunk 45
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 Glucose devices. Our future capital requirements will depend on many factors, including our revenue
growth rate, the timing and the amount of cash received from our customers, the expansion of sales and marketing activities, the timing
and extent of spending to support development efforts. In the future, we may enter into arrangements to acquire or invest in complementary
businesses, products, and technologies. We may be required to seek additional equity or debt financing. In the event that we require additional
financing we may not be able to raise such financing on acceptable terms or at all. If we are unable to raise additional capital or generate
cash flows necessary to continue our research and development and invest in continued innovation, we may not be able to compete successfully,
which would harm our business, results of operations, and financial condition. If adequate funds are not available, we may need to reconsider
our production investments, the pace of our production ramp-up, expansion plans or limit our research and development activities, which
could have a material adverse impact on our business prospects and results of operations.

Cash Flow Summary

The following table summarizes our cash flows for the periods presented
(in thousands):

| Net cash provided by (used in): |     | Three Months Ended 
 March 31,          
 2025               |      |   |     | 2024 |      |   |
|:--------------------------------|:----|:-------------------|-----:|:--|:----|:-----|-----:|:--|
| Operating activities            |     | $                  | (537 | ) |     | $    | (742 | ) |
| Investing activities            |     | $                  |    — |   |     | $    |    — |   |
| Financing activities            |     | $                  |  365 |   |     | $    |  610 |   |

<div align='center'>14</div>

Operating Activities

Cash used in operating activities for
the three months ended March 31, 2025 of $0.5 million was primarily driven by our net loss of $2.7 million, adjusted for non-cash charges
of $1.3 million and net cash inflows of $0.9 million provided by changes in our operating assets and liabilities. Non-cash charges primarily
consisted of non-cash interest expense of $1.2 million, and the change in the fair value of related party convertible loan of $0.1 million.
The main driver of the cash infl