Company: PFSA
Filing Date: 2025-04-03
Form Type: S-4/A
Source: 0001213900-25-028544
Chunk: 582

Company: Profusa, Inc.
Filing Date: 2025-04-03
Form: S-4/A
Chunk 582
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 the specific research and development programs.

F-52

PROFUSA, INC. AND SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 13 — Income Taxes Income taxes in the Company’s combined financial statements have been calculated on a separate tax return basis. The following table presents the principal reasons for the difference between the effective tax rate and the federal statutory income tax rate (in thousands):

|                                            |     | Year Ended December 31 
                   2024 |    |     |        |   |     |   2023 |    |     |        |   |
|:-------------------------------------------|:----|-----------------------:|:---|:----|-------:|:--|:----|-------:|:---|:----|-------:|:--|
| Tax benefit at U.S. federal statutory rate |     |                  21.00 | %  |     | (1,941 | ) |     |  21.00 | %  |     | (2,159 | ) |
| State Tax, net of federal benefit          |     |                  14.58 | %  |     | (1,347 | ) |     |   0.14 | %  |     |    (14 | ) |
| Permanent difference                       |     |                  (0.06 | )% |     |      6 |   |     |  (0.06 | )% |     |      6 |   |
| Prior-Year deferred taxes adjustment       |     |                   0.32 | %  |     |    (30 | ) |     |  (0.57 | )% |     |     58 |   |
| Change of valuation allowance              |     |                 (35.84 | )% |     |  3,312 |   |     | (20.51 | )% |     |  2,109 |   |
| Effective income tax rate                  |     |                   0.00 | %  |     |      — |   |     |   0.00 | %  |     |      — |   |

The components of the provision for income taxes are as follows (in thousands):

|                                     |     | Year Ended   
 December 31, 
 2024         |        |   |     | 2023 |        |   |
|:------------------------------------|:----|:-------------|-------:|:--|: