Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 213

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 213
---
. If any of these new or
improved controls and systems do not perform as expected, we may experience material weaknesses in our controls. Moreover, our testing,
or the subsequent testing by our independent registered public accounting firm, may reveal additional deficiencies in our internal control
over financial reporting that are deemed to be material weaknesses.

Any failure to implement and maintain effective
disclosure controls and procedures and internal control over financial reporting, including the identification of one or more material
weaknesses, could cause investors to lose confidence in the accuracy and completeness of our financial statements and reports, which would
likely adversely affect the market price of our common stock. In addition, we could be subject to sanctions or investigations by the stock
exchange on which our common stock is listed, the SEC and other regulatory authorities.

Past performance by our management team may
not be indicative of future performance of an investment in us.

Information regarding performance
by, or businesses associated with, our management team is presented for informational purposes only. Any past experience and performance
of our management team is not a guarantee either: (a) that we will be able to successfully identify a suitable candidate for our initial
business combination; or (b) of any results with respect to any initial business combination we may consummate. You should not rely on
the historical record of our management team’s performance as indicative of the future performance of an investment in us or the
returns we will, or are likely to, generate going forward.

We are dependent upon our executive officers
and directors and their departure could adversely affect our ability to operate.

Our operations are dependent
upon a relatively small group of individuals. We believe that our success depends on the continued service of our executive officers and
directors, at least until we have completed our business combination. In addition, our executive officers and directors are not required
to commit any specified amount of time to our affairs and, accordingly, will have conflicts of interest in allocating management time
among various business activities, including identifying potential business combinations and monitoring the related due diligence. We
do not have an employment agreement with, or key-man insurance on the life of, any of our directors or executive officers. The unexpected
loss of the services of one or more of our directors or executive officers could have a detrimental effect on us.

27

Our ability to successfully effect our initial
business combination and to be successful thereafter will be totally dependent upon the efforts of our key personnel, some of whom may
join us following our initial business combination. The loss