Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 212

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 212
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 periods.

26

We have performed a formal evaluation of our internal
control over financial reporting under the supervision and with the participation of management, including our principal executive officer
and principal financial officer, as required by Section 404 of the Sarbanes-Oxley Act. Based upon their evaluation, our principal executive
officer and principal financial and accounting officer, concluded that our internal control over financial reporting (as defined in Rules
13a-15(f) and 15d-15(f) under the Exchange Act) were not effective as of December 31, 2024 due to the existence of material weaknesses.
We have not engaged an independent registered public accounting firm to perform an audit of our internal control over financial reporting
as of any balance sheet date or for any period reported in our financial statements. We are required to evaluate and disclose changes
made in our internal controls and procedures on a quarterly basis. Failure to comply with the Sarbanes-Oxley Act could potentially subject
us to sanctions or investigations by the SEC, the applicable stock exchange or other regulatory authorities, which would require additional
financial and management resources.

If we fail to maintain an effective system
of disclosure controls and internal control over financial reporting, our ability to produce timely and accurate financial statements
or comply with applicable regulations could be impaired, which may adversely affect investor confidence in our Company and, as a result,
the market price of our common stock.

As a public company, we are required to comply
with the requirements of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley Act, including, among other things, that we maintain effective
disclosure controls and procedures and internal control over financial reporting. We continue to develop and refine our disclosure controls
and other procedures that are designed to ensure that information we are required to disclose in the reports that we will file with the
SEC are recorded, processed, summarized, and reported within the time periods specified in SEC rules and forms and that information required
to be disclosed in reports under the Exchange Act, is accumulated and communicated to our management, including our principal executive
and financial officers.

In order to maintain and improve the effectiveness
of our disclosure controls and procedures and internal control over financial reporting, we have expended, and anticipate that we will
continue to expend, significant resources, including dedicated to internal resources. We may also need to engage outside consultants and
adopt a detailed work plan to assess and document the adequacy of our internal control over financial reporting