Company: PFSA
Filing Date: 2025-04-28
Form Type: S-4/A
Source: 0001213900-25-035718
Chunk: 551

Company: Profusa, Inc.
Filing Date: 2025-04-28
Form: S-4/A
Chunk 551
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 no such opinion. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion. /s/ Marcum llp Marcum llp We have served as the Company’s auditor since2021. San Francisco, CA
April3, 2025 F-28

PROFUSA, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)

|                                                                                                                                                                                                                                                                                                          |     |   | December 31, 
         2024 |   |     |   | December 31, 
         2023 |   |
|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Assets                                                                                                                                                                                                                                                                                                   |     |   |              |   |     |   |              |   |
| Current assets:                                                                                                                                                                                                                                                                                          |     |   |              |   |     |   |              |   |
| Cash                                                                                                                                                                                                                                                                                                     |     | $ |          191 |   |     | $ |          142 |   |
| Other receivables                                                                                                                                                                                                                                                                                        |     |   |            — |   |     |   |           45 |   |
| Prepaid expenses and other current assets                                                                                                                                                                                                                                                                |     |   |           69 |   |     |   |          146 |   |
| Total current assets                                                                                                                                                                                                                                                                                     |     |   |          260 |   |     |   |          333 |   |
| Property and equipment, net                                                                                                                                                                                                                                                                              |     |   |            — |   |     |   |            2 |   |
| Deferred offering costs                                                                                                                                                                                                                                                                                  |     |   |        2,757 |   |     |   |        1,527 |   |
| Other non-current assets                                                                                                                                                                                                                                                                                 |     |   |           56 |   |     |   |           31 |   |
| Total assets                                                                                                                                                                                                                                                                                             |     | $ |        3,073 |   |