Company: QTIWW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001844505-25-000038
Chunk: 291

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 291
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3,882,980 5,213,649 Less: accumulated depreciation(3,687,197)(4,722,729)$195,783 $490,920 

Depreciation expense was $140,665 and $294,813 for the years ended December 31, 2024 and 2023, respectively. 

6.Intangible Assets, Net

Intangible assets, net consisted of the following as of December 31, 2024:UsefulLifeGrossCarrying ValueAccumulatedAmortizationNet CarryingValueUseful LifeRemainingPatents12 Years$2,230,570 $2,230,570 $— 0.00 YearsIntangible assets, net consisted of the following as of December 31, 2023:

F-25

UsefulLifeGross CarryingValueAccumulatedAmortizationNet CarryingValueUseful LifeRemainingPatents12 Years$2,230,570 $2,140,431 $90,139 0.50 YearsAmortization expense was $90,139 and $185,881 for each of the years ended December 31, 2024 and 2023.

7.Balance Sheet Details

Prepaid expenses and other current assets consisted of the following as of December 31, 2024 and 2023:December 31, 2024December 31, 2023Prepaid insurance$179,143 $9,808 Other337,409 205,171 Total$516,552 $214,979 Accrued expenses and other current liabilities consisted of the following as of December 31, 2024 and 2023:December 31, 2024December 31, 2023Accrued legal$1,867,107 $24,729 Accrued personnel costs963,865 120,856 Accrued excise taxes207,358 — Accrued advisory fee100,000 — Other411,624 224,066 Total$3,549,954 $369,651 

8.Long-Term Debt

Paycheck Protection Program LoanOn February 24, 2021 and May 5, 2020, the Company received loans (“PPP Loans”) from US Bank in the amounts of $1,158,265 (“Loan 2”) and $1,158,266 (“Loan 1”), respectively, to fund