Company: PFSA
Filing Date: 2025-08-11
Form Type: S-1
Source: 0001213900-25-073872
Chunk: 304

Company: Profusa, Inc.
Filing Date: 2025-08-11
Form: S-1
Chunk 304
---
          March 31, |      |     |            |      |
|                                  |     |               2025 |      |     |       2024 |      |
| Convertible preferred stock      |     |         17,863,934 |      |     | 17,863,934 |      |
| Convertible notes payable        |     |         46,912,311 |      |     | 24,630,146 | ​(1) |
| Convertible loans                |     |                  — | ​(2) |     |          — |      |
| Options to purchase common stock |     |          2,972,055 |      |     |  2,972,055 |      |
| Total                            |     |         67,748,300 |      |     | 45,466,135 |      |

____________

(1)

(2)

F-48

PROFUSA, INC. AND SUBSIDIARY
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED) Note 12 — Government Grant Revenue Government grant revenue consists of amounts the Company earns under grants from two government agencies: NIH and DARPA. These grants are provided either in the form of expense reimbursement (expense reimbursement grants) or as on a fixed fee basis (fixed fee grants). Under the expense reimbursement grants, the government agencies reimburse us for a portion of our expenses (allowable expenses) that have been incurred in a given period on the basis of reports that the Company provides to these agencies. Fixed fee grants are awarded for specific research and development programs undertaken by us. Under these grants, the Company receives milestone payments from the government agencies upon our submission and approval by the government of agreed upon deliverables, consisting primarily of the documented results of the specific research and development programs.

Note 13 — Segments

The Company operates as one operating segment. The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer, Ben Hwang, who reviews financial information presented on a consolidated net loss basis as reported on the consolidated condensed statement of operations and comprehensive loss in order to make decisions about allocating resources and assessing performance for the entire Company. The CODM also utilizes the Company’s long-range plan, which includes product development roadmaps and long-range financial models, as a key input to resource allocation. The CODM function approves of key operating and strategic decisions. The CODM function views the Company’s operations and manages its business