Company: QTIWW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001844505-25-000038
Chunk: 265

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 265
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,418 (290,390)Cash and restricted cash and cash equivalents, beginning of year184,686 475,076 Cash and restricted cash and cash equivalents, end of year$1,192,104 $184,686 Supplemental disclosure of cash flow information:Cash paid for interest$539,266 $3,004 Supplemental disclosures of noncash investing and financing activities:Fair value of embedded derivatives upon issuance of convertible debt$5,120,900 $— Fair value of earnout liability at issuance3,670,000— Fair value of common stock issued with convertible debt2,312,617— Conversion of Extension Note into common stock1,560,000— 

The accompanying notes are an integral part of these consolidated financial statements.F-7

Table of ContentsQT IMAGING HOLDINGS, INC.Consolidated Statements of Cash FlowsFor the years ended December 31, 2024 and 2023

Conversion of Yorkville Note into common stock514,181— Extinguishment of accrued expenses in exchange for common stock3,760,000— Transfer of equipment to inventory289,214— Transfer of inventory to property and equipment59,946 262,116 Debt discount included in accrued expenses40,739— Debt discount included in accounts payable— 59,069 Conversion of long-term debt into common stock3,433,388— Deemed dividend5,185,502— Purchase of property and equipment included in accounts payable— 12,955 Related party convertible notes payable including accrued interest exchanged for common stock— 233,644 Transfer of accrued interest to current maturities of long-term debt— 635,855 

The accompanying notes are an integral part of these consolidated financial statements.F-8

Table of ContentsQT IMAGING HOLDINGS, INC.Notes to Consolidated Financial Statements

1.The Company and Summary of Significant Accounting Policies

Nature of OperationsQT Imaging Holdings, Inc. and its subsidiaries (the “Company”), formerly known as GigCapital5, Inc. (“GigCapital5”), is incorporated in Delaware with headquarters in Novato, California. The Company is a medical device company engaged in research, development, and commercialization of innovative body imaging systems using low frequency sound waves. The Company strives to improve global health outcomes. Its strategy is predicated upon the fact that medical imaging is critical to the detection, diagnosis, and treatment of disease and that it should