Company: PFSA
Filing Date: 2025-10-09
Form Type: S-1
Source: 0001213900-25-097860
Chunk: 14

Company: Profusa, Inc.
Filing Date: 2025-10-09
Form: S-1
Chunk 14
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 successfully maintain effective internal control over financial reporting, investors                  
 may lose confidence in our reported financial information and our stock price and our business may be adversely impacted. |

| ● | Environmental, social and corporate governance, or ESG regulations, policies and provisions may make our 
 supply chain more complex and may adversely affect our relationships with customers.                     |

| ● | Current uncertainty in domestic and global economic and political conditions makes it particularly difficult                                    
 to predict product demand and other related matters and makes it more likely that our actual results could differ materially from expectations. |

| ● | Changes in financial accounting standards or practices or existing taxation rules or practices may cause 
 adverse unexpected revenue and/or expense fluctuations and affect our reported results of operations.    |

| ● | We identified material weaknesses in our internal control over financial reporting. These material weaknesses                         
 could continue to adversely affect our ability to report our results of operations and financial condition accurately and in a timely 
 manner.                                                                                                                               |

| ● | If we fail to maintain an effective system of disclosure controls and internal control over financial                                     
 reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired, which 
 may adversely affect investor confidence in our Company and, as a result, the market price of our common stock.                           |

Risks Related to our Bitcoin Treasury Strategy and Holdings

| ● | Our bitcoin treasury strategy exposes us to various risks associated with bitcoin. |

| ● | Bitcoin is a highly volatile asset, and fluctuations in the price of bitcoin are likely to influence our 
 financial results and the market price of our common stock.                                              |

| ● | Bitcoin and other digital assets are novel assets, and are subject to significant legal, commercial, regulatory 
 and technical uncertainty.                                                                                      |

| ● | Our historical financial statements do not reflect our acquisition of bitcoin, the fact that our bitcoin                                   
 holdings could be a substantial part of our assets, or the potential variability in earnings that we may experience in the future relating 
 to our bitcoin holdings.                                                                                                                   |

| ● | The concentration of our bitcoin holdings will enhance the risks inherent in our bitcoin treasury strategy. |

| ● | Our bitcoin holdings are less liquid than our existing cash and cash equivalents and may not be able to 
 serve as a source of liquidity for us to the same extent as cash and cash equivalents.                  |

| ● | Regulatory change reclassifying bitcoin as a security could lead to our classification as an “investment                               
 company” under the Investment Company Act of 1940, as amended, or the