Company: PFSA
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001213900-25-054386
Chunk: 55

Company: Profusa, Inc.
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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, change in fair value of convertible note of $225,330, change in fair value of securities
purchase agreement of $23,487 and changes in operating assets and liabilities reflected cash provided by operating activities of $240,492
during such period.

For the three months March 31, 2025, cash provided
by investing activities included $99,284 of extension payments made to the trust, $78,813 of reimbursement from the trust of franchise
and income tax payments and cash withdrawn from the trust of $6,510,830 in relation to stock redemptions.

For the three months March 31, 2025, cash used
in financing activities included $385,158 of an advance from Profusa and $6,510,830 paid out in relation to stock redemptions.

For the three months ended March 31, 2024, cash
used in operating activities was $280,853. Net loss of $820,277 was impacted primarily by trust interest income of $116,664, change in
fair value of convertible note of $60,077, change in deferred tax provision of $13,661 and change in fair value of our warrant liabilities
of $504,723. Changes in operating assets and liabilities reflected cash provided of $225,103 from operating activities during such period.

28

For the three months ended March 31, 2024, cash
provided by investing activities included $125,051 of extension payments made to the trust, $28,484 of reimbursement from the trust of
franchise and income tax payments and cash withdrawn from the trust of $2,653,439 in relation to a partial stock redemption.

For the three months ended March 31, 2024, cash
used in financing activities included $378,185 of proceeds from a convertible promissory note and $2,653,439 of a partial stock redemption.

Prior to the completion of the initial public
offering, our liquidity needs had been satisfied through a capital contribution from the sponsor of $25,000 for the founder shares to
cover certain of the offering costs and the loan under an unsecured promissory note from the sponsor of $204,841, which was fully paid
upon the initial public offering. Subsequent to the consummation of the initial public offering and private placement, our liquidity
needs have been satisfied through the proceeds from the consummation of the private placement not held in the trust account, and the
drawdowns on the