Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 129

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 129
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 Common Stock has traded a volume of at
least $35,000,000 in the aggregate after the $2,000,000 Second Purchase has closed, no default or event of default has occurred and the
stock has traded at a trading price of no less than $4.00 for a period of five trading days preceding such purchase, the Company may
call and thereby require the Investor to purchase Convertible Notes in the aggregate principal amount of $5,555,555 for a purchase price
of $5,000,000 (reflecting a 10% OID); and

(c)The
Investor at its sole discretion may call from the Company and thereby require the Company to sell an additional Convertible Note having
an aggregate principal amount of $4,444,444 at a purchase price of $4,000,000 (reflecting a 10% OID) to be purchased at any time within
12 months of the Initial Closing.

As a result of the Business Combination, the
Company paid $90,000 at the Closing to an advisor for legal services in connection with the issuance of the Convertible Note.

Note 7 – Stockholders’ Deficit

Preferred stock — The
Company is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.0001 and with such designations,
rights and preferences as may be determined from time to time by the Company’s board of directors. As of June 30, 2025 and
December 31, 2024, there was no preferred stock issued or outstanding.

20

Common Stock — The Company
is authorized to issue a total of 100,000,000 shares of common stock at par value of $0.0001 each. In April 2021, the
Company issued 5,175,000 shares of common stock to its Sponsor for $25,000, or approximately $0.005 per share. In October
2021, the Sponsor irrevocably surrendered to the Company for cancellation and for no consideration 862,500 shares of common
stock. On December 20, 2021, the Company effected a 1.1- for-1 stock dividend of its common stock, resulting in an
aggregate of 4,743,750 Founder Shares issued and outstanding. On December 22, 2021, the Company has also issued 450,000 shares
(