Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 26

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 sheet date. With each such re-measurement, the warrant liabilities will be adjusted to fair value, with the change in fair
value recognized in the Company’s condensed consolidated statements of operations (See Note 8).

In determining the fair value of the Private
Placement Warrants and the Representative’s Warrants, assumptions related to expected share-price volatility, expected life and
risk-free interest rate are utilized. The Company estimates the volatility of its common stock based on historical volatility that matches
the expected remaining life of the warrants.

13

Net Loss Per Common Stock

The Company has two categories of shares, which
are referred to as common stock subject to possible redemption and common stock. Earnings and losses are shared pro rata between the
two categories of shares. The 17,404,250 potential shares of common stock for outstanding warrants to purchase the Company’s
shares were excluded from diluted earnings per share for the three and six months ended June 30, 2025 and 2024 because the warrants are
contingently exercisable, and the contingencies have not yet been met. As a result, diluted net loss per share of common stock is the
same as basic net loss per share of common stock for the periods presented. The table below presents a reconciliation of the numerator
and denominator used to compute basic and diluted net loss per share for each category of common stock:

The table below presents a reconciliation of
the numerator and denominator used to compute basic and diluted net loss per share for each category of common stock:

    For the Three Months Ended June 30,  
    For the Six Months Ended June 30, 

    2025  
    2024  
    2025  
    2024 

    Common stock subject to possible redemption  
    Common stock  
    Common stock subject to possible redemption  
    Common stock  
    Common stock subject to possible redemption  
    Common stock  
    Common stock subject to possible redemption  
    Common stock 
  
    Basic and diluted net loss per share: 

    Numerator: 

    Allocation of net loss 
    $(224,777) 
    $(7,972,099) 
    $(49,458) 
    $(348,029) 
    $(685,851) 
    $(8,630,935) 
    $(159,563) 
    $(1,058,201)

    Denominator: 

    Weighted-average shares outstanding