Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 149

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 149
---
,184 and change
in fair value of convertible note of $126,098.

Liquidity and Going Concern

As of June 30, 2025, we had $1,751 in restricted
cash and a working capital deficit of $15,492,554.

28

For the six months June 30, 2025, cash used in
operating activities was $501,614. Net loss of $9,316,786 was impacted primarily by trust interest income of $95,084, change in fair
value of our warrant liabilities of $6,265,530, change in fair value of convertible note of $1,380,059, change in fair value of securities
purchase agreement of $193,878 and changes in operating assets and liabilities reflected cash provided by operating activities of $1,070,789
during such period.

For the six months June 30, 2025, cash provided
by investing activities included $99,285 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and income tax payments and cash withdrawn from the trust of $6,510,830 in relation to stock redemptions.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 six months June 30, 2025, cash used in
financing activities included $507,633 of an advance from Profusa and $6,510,830 paid out in relation to stock redemptions.

For the six months ended June 30, 2024, cash
used in operating activities was $675,730. Net loss of $1,217,764 was impacted primarily by trust interest income of $225,184, change
in fair value of convertible note of $126,098 and change in fair value of our warrant liabilities of $800,595. Changes in operating assets
and liabilities reflected cash provided of $92,721 from operating activities during such period.

For the six months ended June 30, 2024, cash
provided by investing activities included $235,733 of extension payments made to the trust, $204,460 of reimbursement from the trust
of franchise and income tax payments and cash withdrawn from the trust of $2,653,439 in relation to stock redemptions.

For the six months ended June 30, 2024, cash
used in financing activities included $708,981 of proceeds from a convertible promissory note and $2,653,439 paid out in relation to
stock redemptions.

Prior to the