Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 397

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 397
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. All activity for the period from April 19, 2021 (inception) through September 30, 2024 relates to our formation and the Initial Public Offering, and, subsequent to the IPO, identifying a target company for a Business Combination. We have neither engaged in any operations nor generated any operating revenues to date. We will not generate any operating revenues until after the completion of our initial Business Combination, at the earliest. We will generate non -operatingincome in the form of interest income and unrealized gains from the cash and marketable securities held in the Trust Account. We expect to incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses. For the three months ended September 30, 2024, we had net income of $91,177, which consisted of operating costs of $317,270, income tax provision of $19,499, offset by $304,575 for the change in fair value of our warrant liabilities, interest income on securities held in the Trust Account of $108,750 and change in fair value of convertible note of $14,621. For the nine months ended September 30, 2024, we had net loss of $1,126,587, which consisted of operating costs of $1,041,241, income tax provision of $63,979, and a loss of $496,020 for the change in fair value of our warrant liabilities, offset by interest income on securities held in the Trust Account of $333,934 and change in fair value of convertible note of $140,719. For the three months ended September 30, 2023, we had net loss of $367,345, which consisted of $243,659 for the change in fair value of our warrant liabilities, operating costs of $290,098, and income tax provision of $25,499, offset by interest income on securities held in the Trust Account of $138,725 and a change in fair value of convertible note of $53,186. We are required to revalue our liability -classifiedwarrants at the end of each reporting period and reflect in the unaudited condensed consolidated statements of operations a gain or loss from the change in fair value of the warrant liabilities in the period in which the change occurred. For the nine months ended September 30, 2023, we had net income of $925,939, which consisted of interest income on securities held in