Company: PFSA
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001213900-25-054386
Chunk: 170

Company: Profusa, Inc.
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 2
Chunk 170
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085,
income tax provision of $19,352, change in fair value of convertible note of $225,330, and change in fair value of securities purchase
agreement of $23,487 offset by interest income on cash held in the Trust Account of $79,925.

For the three months ended March 31, 2024, we
had net loss of $820,277, which consisted of operating costs of $470,841, income tax provision of $21,454, and a loss of $504,723 for
the change in fair value of our warrant liabilities, offset by interest income on securities held in the Trust Account of $116,664 and
change in fair value of convertible note of $60,077.

Liquidity and Going Concern

As of March 31, 2025, we had $18,450 in restricted
cash and a working capital deficit of $13,191,353.

For the three months March 31, 2025, cash used
in operating activities was $362,441. Net loss of $1,119,910 was impacted primarily by trust interest income of $79,925, change in fair
value of our warrant liabilities of $348,085, change in fair value of convertible note of $225,330, change in fair value of securities
purchase agreement of $23,487 and changes in operating assets and liabilities reflected cash provided by operating activities of $240,492
during such period.

For the three months March 31, 2025, cash provided
by investing activities included $99,284 of extension payments made to the trust, $78,813 of reimbursement from the trust of franchise
and income tax payments and cash withdrawn from the trust of $6,510,830 in relation to stock redemptions.

For the three months March 31, 2025, cash used
in financing activities included $385,158 of an advance from Profusa and $6,510,830 paid out in relation to stock redemptions.

For the three months ended March 31, 2024, cash
used in operating activities was $280,853. Net loss of $820,277 was impacted primarily by trust interest income of $116,664, change in
fair value of convertible note of $60,077, change in deferred tax provision of $13,661 and change in fair value of our warrant liabilities
of $504,723. Changes in operating assets and liabilities reflected cash provided of