Company: QTIWW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001628280-25-051332
Chunk: 29

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 of these condensed consolidated financial statements.6

Table of ContentsQT IMAGING HOLDINGS, INC.Condensed Consolidated Statements of Cash Flows(Unaudited)

Cash and restricted cash and cash equivalents, end of year$1,735,400 $1,564,169 Supplemental disclosure of cash flow information:Cash paid for interest$12,461 $537,517 Supplemental disclosures of noncash investing and financing activities:Fair value of embedded derivatives upon issuance of convertible debt— 5,120,900 Fair value of common stock issued with convertible debt— 2,312,617 Transfer of equipment to inventory— 289,214 Debt issuance costs included in accounts payable144,300 — Conversion of accrued interest into common stock174,397 — Extinguishment of accrued expenses in exchange for common stock— 3,760,000 Debt issuance costs included in accrued expenses— 40,740 Conversion of long-term debt into common stock182,682 3,433,388 Fair value of warrants issued in exchange for issuance of long-term debt16,496,084 — Unpaid issuance costs related to sale of common stock and warrants101,963 — Conversion of accrued legal costs to debt25,000 — Reclassification of warrant liability upon warrant modification22,986,128 — Deemed dividend— 5,185,502 

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

Table of ContentsQT IMAGING HOLDINGS, INC.Notes to Condensed Consolidated Financial Statements(Unaudited)

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 be safe, affordable, accessible, and centered on the patient’s experience. The Company’s initial product is a breast imaging system. On March 4, 2024 (the  “Closing Date” or “Merger Date”), QT Imaging, Inc. (“QT Imaging”), GigCapital5