Company: PFSA
Filing Date: 2025-02-12
Form Type: S-4/A
Source: 0001213900-25-012354
Chunk: 607

Company: Profusa, Inc.
Filing Date: 2025-02-12
Form: S-4/A
Chunk 607
---
 of the securities. These changes will result in earlier recognition of credit losses. In 2019, the FASB issued ASU No. 2019 -04, Codification Improvements to Topic 326and ASU No. 2019 -05, Financial Instruments — Credit Loss (Topic 326); Targeted Transition Relief. This ASU is effective for the Company for its fiscal year ending December 31, 2023. Early adoption is permitted. The Company adopted this ASU on January 1, 2023 and the adoption did not have a material impact on its consolidated financial statements. Recently issued accounting pronouncements not yet adopted On November 27, 2023, the FASB issued Accounting Standards Update No. 2023 -07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023 -07”), which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The Company is currently evaluating the potential impact of adopting this new guidance on its consolidated financial statements. On December 14, 2023 the FASB issued a final standard on improvements to income tax disclosures ASU 2023 -09, Improvements to Income Tax Disclosures. The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. For public business entities (PBEs), the new requirements will be effective for annual periods beginning after December 15, 2024. For entities other than public business entities (non -PBEs), the requirements will be effective for annual periods beginning after December 15, 2025. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating the potential impact of this update on its consolidated financial statements. Note 3 — Fair Value Measurement Assets and liabilities recorded at fair value on