Company: PFSA
Filing Date: 2025-05-13
Form Type: S-4/A
Source: 0001213900-25-042224
Chunk: 472

Company: Profusa, Inc.
Filing Date: 2025-05-13
Form: S-4/A
Chunk 472
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able or implantable CGMs and Lumee Glucose, is that the latter can be simply inserted with a hypodermic needle and does not require a surgical implantation, similar to how pharmacists use these needles to administer flu shots and other vaccines. At the same time, physicians can still leverage existing CPT codes related to interpretation of CGM data and we have, in parallel, initiated steps for CPT codes related to our sensor insertion. We will target both public and private payors for coverage. 264 Since our launch, we have significantly devoted all of our resources to research and development, as well as all clinical study activities related but not limited to Lumee Oxygen, Lumee Glucose and prototypes for sensors of at least eight other analytes. We have also invested, on a smaller scale, in making sales of Lumee Oxygen for research- use only clients, which include entities working with animal models. Furthermore, we also performed research and development under government grants. Since inception, we have incurred recurring annual losses from operations. For the years ended December 31, 2024 and 2023, we incurred a net loss of $9.2 million and $10.3 million, respectively. During the years ended December 31, 2024 and 2023, we have used $2.1 million and $4.4 million, respectively, of cash in our operating activities. We have notes and loans payable and interest due of $48.2million within one year of December31, 2024. We have been able to finance our operations primarily with the proceeds from the issuance of equity and debt instruments and to a lesser extent, revenues from government grants. For the year ending December 31, 2024, we obtained net cash from financing activities of $2.1 million compared to $4.5 million for the same period in 2023. We held cash of $0.2million and $0.1 million as of December 31, 2024 and 2023, respectively. Additional funds may be necessary to maintain current operations and will be required for successful product commercialization efforts. Our management plans to monitor expenses and obtain additional funds through public or private equity offerings or debt financings, additional credit or loan facilities or a combination of one or more of these funding sources, which is intended to mitigate the relevant conditions or events that raise substantial doubt about our ability to continue as a going concern within one year from the date the audited consolidated financial statements are issued. As