Company: PFSA
Filing Date: 2025-08-21
Form Type: S-1/A
Source: 0001213900-25-079401
Chunk: 354

Company: Profusa, Inc.
Filing Date: 2025-08-21
Form: S-1/A
Chunk 354
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.00 |    |     |          0.2 |   |
| Change in valuation allowance               |     |         (3.0 | )  |     |         12.6 |   |
| Income tax provision                        |     |        (0.90 | )% |     |         28.2 | % |

The Company files income tax returns in the U.S. federal, New York and New York City jurisdictions and is subject to examination by the various taxing authorities since inception.

Note 10 — Segment Information

ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance.

The Company’s chief operating decision maker (“CODM”) has been identified as its Chief Financial Officer, who reviews the assets, operating results, and financial metrics for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that there is only reportable segment.

The CODM assesses performance for the single segment and decides how to allocate resources based on net loss that also is reported on the statement of operations as net loss. The measure of segment assets is reported on the balance sheet as total assets.

|               |     |   |      For the 
   Year Ended 
 December 31, 
         2024 |     |   |      For the 
   Year Ended 
 December 31, 
         2023 |
|:--------------|:----|:--|-------------:|:----|:--|-------------:|
| Trust Account |     | $ |    8,330,835 |     | $ |   10,873,406 |
| Cash          |     | $ |       16,204 |     | $ |        4,519 |

|                                      |     |   |      For the 
   Year Ended 
 December 31, 
         2024 |   |     |   |      For the 
   Year Ended 
 December 31, 
         2023 |   |
|:-------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--