Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 274

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 274
---
 distribution
of such tender offer materials or at the time of a stockholder meeting held to consider our initial business combination, as applicable,
as it will be up to the directors of the post-combination business to determine executive officer and director compensation.

We entered into a registration
rights agreement with respect to the founder shares and private placement warrants (and underlying securities).

Policy for Approval of Related Party Transactions

The audit committee of our
board of directors has adopted a policy setting forth the policies and procedures for its review and approval or ratification of “related
party transactions.” Pursuant to the policy, the audit committee will consider (i) the relevant facts and circumstances of each
related party transaction, including if the transaction is on terms comparable to those that could be obtained in arm’s-length dealings
with an unrelated third party, (ii) the extent of the related party’s interest in the transaction, (iii) whether the transaction
contravenes our code of ethics or other policies, (iv) whether the audit committee believes the relationship underlying the transaction
to be in the best interests of the company and its stockholders and (v) the effect that the transaction may have on a director’s
status as an independent member of the board and on his or her eligibility to serve on the board’s committees. Management will present
to the audit committee each proposed related party transaction, including all relevant facts and circumstances relating thereto. Under
the policy, we may consummate related party transactions only if our audit committee approves or ratifies the transaction in accordance
with the guidelines set forth in the policy. The policy will not permit any director or executive officer to participate in the discussion
of, or decision concerning, a related person transaction in which he or she is the related party.

60

ITEM 14.
PRINCIPAL ACCOUNTING FEES AND SERVICES.

The
following is a summary of fees paid or to be paid to Marcum LLP, or Marcum, for services rendered.

Audit Fees. During the years ended December
31, 2024 and 2023, fees for our independent registered public accounting firm were approximately $191,946 and $108,148 for the services
Marcum performed in connection with the audit of our December 31, 2024 and 2023 consolidated financial statements included in this Annual
Report on Form 10K.

Audit-Related Fees. During the years ended
December 31, 2024 and 2023, fees for our independent registered public accounting firm were