Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 199

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 199
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 received
from the Business Combination and PIPE Investment, together with proceeds from the ELOC and the cash we expect to generate from future
operations, will provide sufficient funding to support initial commercial operations. The cash generated from the Business Combination
includes an initial net $9 million in PIPE proceeds from the first tranche and net $2 million from the second tranche of a convertible
note. The cash generated from the ELOC was $3.5 million in the third quarter. Until we generate sufficient operating cash flow to cover
our operating expenses, working capital needs and planned capital expenditures, or if circumstances evolve differently than anticipated,
we expect to utilize a combination of equity and debt financing to fund any future capital needs. If we raise funds by issuing equity
securities, dilution to stockholders may result. Any equity securities issued may also provide for rights, preferences, or privileges
senior to those of holders of common stock. If we raise funds by issuing debt securities, these debt securities may have rights, preferences,
and privileges senior to those of common stockholders. The terms of debt securities or borrowings could impose significant restrictions
on our operations. The capital markets are currently experiencing, and may continue to experience in the future, periods of upheaval that
could impact the availability and cost of equity and debt financing.

Our principal uses of cash in recent periods have been funding our
research and development activities, legal and bank transaction fees, and other personnel cost. Near-term capital requirements through
September 30, 2025 leading to and supporting initial commercialization are estimated to total approximately $19.4 million and include
further research and development to enable us to obtain the required regulatory approvals, manufacturing, commercialization and wide-scale
marketing for our Lumee Oxygen and Lumee Glucose devices. Our future capital requirements will depend on many factors, including our revenue
growth rate, the timing and the amount of cash received from our customers, the expansion of sales and marketing activities, the timing
and extent of spending to support development efforts. In the future, we may enter into arrangements to acquire or invest in complementary
businesses, products, and technologies. For any periods after the twelve months subsequent to the filing of these financial statements
as of September 30, 2025, we may be required to seek additional equity or debt financing. In the event that we require additional financing
we may not be able to raise such financing on acceptable terms or at all. If we are unable to raise additional capital or generate cash