Company: PFSA
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001213900-25-054386
Chunk: 121

Company: Profusa, Inc.
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 8
Chunk 121
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 contractual term.

23

Note 9 – Segment Information

ASC Topic 280, “Segment Reporting,”
establishes standards for companies to report in their financial statement information about operating segments, products, services,
geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities
from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly
evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance.

The Company’s chief operating decision
maker (“CODM”) has been identified as its Chief Financial Officer, who reviews the assets, operating results, and financial
metrics for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management
has determined that there is only one reportable segment.

The CODM assesses performance for the single
segment and decides how to allocate resources based on net loss that also is reported on the statement of operations as net loss. The
measure of segment assets is reported on the balance sheet as total assets. When evaluating the Company’s performance and making
key decisions regarding resource allocation, the CODM reviews several key metrics included in net loss and total assets, which
include the following:

    As of March 31, 2025 
    As of December 31, 2024
  
    Trust Account 
    $1,920,401  
    $8,330,835 
  
    Cash 
    $—  
    $16,204 
  
    Restricted Cash 
    $18,450  
    $— 

    For the Three Months Ended March 31, 2025  
    For the Three Months Ended March 31, 2024 
  
    General and administrative expenses 
    $583,581  
    $470,841 
  
    Interest earned on the Trust Account 
    $79,925  
    $116,664 

The key measures of segment profit or loss
reviewed by our CODM are interest earned on the Trust Account and general and administrative expenses. The CODM reviews interest earned
on the Trust Account to measure and monitor stockholder value and determine the most effective strategy of investment with the Trust
Account funds while maintaining compliance with the trust agreement. General and administrative expenses are reviewed and monitored by
the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination within the business combination