Company: QTIWW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0001628280-25-001723
Chunk: 330

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-16
Form: S-1
Chunk 330
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 |     |             |     | 1.50 Years |

Amortization expense was $ 185,881for each of the years ended December 31, 2023 and 2022.

As of December 31, 2023, future amortization is as follows:

#### 5.

#### Accrued Expenses
Accrued expenses consisted of the following as of December 31:

|                  |     |   |    2023 |     |   |    2022 |
|:-----------------|:----|:--|--------:|:----|:--|--------:|
| Accrued vacation |     | $ |  55,683 |     | $ |  91,125 |
| Accrued wages    |     |   |  65,173 |     |   |  80,904 |
| Accrued legal    |     |   |  24,729 |     |   |  79,691 |
| Accrued interest |     |   |  50,037 |     |   |       — |
| Other            |     |   | 174,029 |     |   | 116,646 |
| Total            |     | $ | 369,651 |     | $ | 368,366 |

#### 6.

#### Long-Term Debt
Paycheck Protection Program Loan

On February 24, 2021 and May 5, 2020, the Company received loans (“PPP Loans”) from US Bank in the amounts of $ 1,158,265(“Loan 2”) and $ 1,158,266(“Loan 1”), respectively, to fund payroll, rent and utilities through the Paycheck Protection Program (“PPP”). Original loan terms were revised by the PPP Flexibility Act of 2020. Under the terms of the PPP, up to 100% of the loan and related interest was forgivable if the proceeds were used for covered expenses and certain other requirements related to wage rates were met. For Loan 1, the Company applied for forgiveness on June 7, 2021, and received forgiveness of $ 873,151in principal and $ 9,823in interest from the Small Business Administration (“SBA”) on June 14, 2021. For Loan 2, the Company applied for forgiveness on November 9, 2021, and received forgiveness of $ 930,246in principal and $ 6