Company: PFSA
Filing Date: 2025-08-11
Form Type: S-1
Source: 0001213900-25-073872
Chunk: 341

Company: Profusa, Inc.
Filing Date: 2025-08-11
Form: S-1
Chunk 341
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 |     | $ |      (13,661 | ) |

The income tax provision consists of the following:

|                               |     |   |      For the 
   Year Ended 
 December 31, 
         2024 |   |     |   |      For the 
   Year Ended 
 December 31, 
         2023 |   |
|:------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Federal                       |     |   |              |   |     |   |              |   |
| Current                       |     | $ |       94,174 |   |     | $ |      480,069 |   |
| Deferred                      |     |   |     (271,945 | ) |     |   |     (226,991 | ) |
| State                         |     |   |              |   |     |   |              |   |
| Change in valuation allowance |     |   |      258,284 |   |     |   |      203,712 |   |
| Income tax provision          |     | $ |       80,513 |   |     | $ |      456,790 |   |

As of December 31, 2024 and 2023, the Company had $ in U.S. federal net operating loss carryovers available to offset future taxable income.

In assessing the realization of the deferred tax assets, management considers whether it is more likely than not that some portion of all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences representing net future deductible amounts become deductible. Management considers the scheduled reversal of

F-74

NORTHVIEW ACQUISITION CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Note 9 — Income Taxes (cont.)

deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. After consideration of all of the information available, management believes that significant uncertainty exists with respect to future realization of the deferred tax assets and has therefore established a full valuation allowance. For the years ended December 31, 2024 and 2023, the change in the valuation allowance was $ and $.

A reconciliation of the federal income tax rate to the Company’s effective tax rate is as follows:

|                                             |     | December 31, 
         2024 |    |