Company: QTIWW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001844505-25-000053
Chunk: 56

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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, net$847,643 $935,246 Liabilities:Operating lease liabilities, current$417,379 $405,678 Operating lease liabilities548,874 656,955 $966,253 $1,062,633 The following table presents supplemental cash flow information related to the Company’s operating leases:Three Months EndedMarch 31,20252024Operating cash flows from operating leases$116,994 $113,586 As of March 31, 2025, the maturity of operating lease liabilities was as follows:Year ending December 31:2025 (remaining)$359,170 2026490,449 2027206,864 Total payments1,056,483 Less: Interest(90,230)Present value of obligations$966,253 The operating lease expense for the three months ended March 31, 2025 and 2024 was $113,748 and $113,535, respectively, of which $5,532 and $5,319, respectively, were related to leases with a term of less than 12 months. 

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As of March 31, 2025, the weighted-average remaining lease term was 2.2 years. The weighted-average discount rate was 8% for the three months ended March 31, 2025 and 2024. 

9.    Contingencies

LitigationThe Company is subject to occasional lawsuits, investigations, and claims arising out of the normal conduct of business. As of the date the condensed consolidated financial statements were available to be issued, management is not aware of any pending claims that will have a material impact on the Company’s condensed consolidated financial statements.

10.    Stockholders’ Deficit

Common StockThe Company's common stock trades on the OTCQB Venture Market tier under the symbol “QTIH”. Pursuant to the terms of the Amended and Restated Certificate of Incorporation, the Company is authorized and has available for issuance 500,000,000 shares of common stock. The holder of each share of common stock is entitled to one vote. Common stock reserved for future issuance as of March 31, 2025 is as follows:Common stock warrants104,272,922Merger earnout consideration shares6,000,000Options outstanding under the 2024 Incentive Plan1,955,000Options available under the 2024 Incentive Plan1,741,504Potential shares from convertible notes256,