Company: QTIWW
Filing Date: 2025-11-03
Form Type: S-1
Source: 0001628280-25-048373
Chunk: 368

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-03
Form: S-1
Chunk 368
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 |      — |
| Balance as the end of the year                  |     | $ | 49,255 |     | $ | 49,255 |

The unrecognized tax benefits for the year ended December 31, 2024, if recognized, would not affect the effective income tax rate due to the valuation allowance that currently offsets the deferred tax assets. It is reasonably possible that the unrecognized tax benefits balance will change within twelve months by a range of zeroto $ 49,255due to the Company’s intent to file a tax accounting method change.

The Company files income tax returns in the federal and California state jurisdictions. The Company’s tax years for 2021 and forward are subject to examination by the federal and California tax authorities.

#### 15. Related Party Transactions
Convertible Notes Payable

In July 2020, the Company issued threeconvertible notes to threeof its stockholders for advances up to $ 3,500,000in principal (the “2020 Notes”) and bearing annual interest of 5% on any amounts drawn. An additional note was issued in March 2022 as part of the 2020 Notes, but with an annual interest rate of 8%. All principal and interest payments are due on or before July 1, 2025. The 2020 Notes are convertible, at the holder’s option, into shares of common stock of the Company at the lower of $ 43.77per share or the offering price in a financing of at least $ 5,000,000in equity from unaffiliated parties. As of December 31, 2024, an aggregate of 84,400shares of common stock would be issued if the entire principal and interest under the 2020 Notes was converted. Management assessed whether the embedded features in the 2020 Notes should have been bifurcated from the debt host and concluded that none of the features were required to be accounted for separately from the debt instruments.

As of December 31, 2024 and 2023, the outstanding amount of the 2020 Notes was $ 3,143,725and accrued interest of $ 550,430and $ 377,772, respectively.

Working Capital Loan and Extension Note

On May 3, 2023, the Company issued a promissory note (the “Working Capital Note”) to a stockholder for a principal amount of $ 250,000. The Working Capital Note was subsequently amended and restated sixtimes on June 12,