Company: QTIWW
Filing Date: 2025-01-31
Form Type: S-1/A
Source: 0001628280-25-003316
Chunk: 414

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-31
Form: S-1/A
Chunk 414
---
 in lieu of any simple or in-kind interest on the Loan, QT Imaging issued to Cable Car that number of shares of QT Imaging which at the completion of the Business Combination would be converted in accordance with the terms of the Business Combination Agreement into 180,000shares of the Company's common stock. In accordance with ASC 470-20, the proceeds of $ 1,500,000were

<div align='center'>F-54</div>

#### QT IMAGING HOLDINGS, INC.

### Notes to Condensed Consolidated Financial Statements
<div align='center'>(Unaudited)</div>

recorded between the promissory note and common stock less debt origination costs of $ 40,740, consisting of legal fees, on a relative fair value basis.

As of September 30, 2024 , the outstanding amount of the Cable Car Loan was $ 1,247,374, net of unamortized issuance costs of $ 252,626. Interest expense, including amortization of debt issuance costs, for the three and nine months ended September 30, 2024 was $ 108,706 and $ 234,445, respectively.

Future principal payments on the long-term debt as of September 30, 2024 are as follows:

| Year ending December 31:                   
 2024 (remaining)                           |     |   |     32,718 |
|:-------------------------------------------|:----|:--|-----------:|
| 2025                                       |     |   | 10,441,377 |
| 2026                                       |     |   |      9,197 |
| Total payments                             |     |   | 10,483,292 |
| Less: Unamortized debt issuance costs      |     |   | -6,127,060 |
| Less: Current maturities of long-term debt |     |   |   -887,321 |
| Long-term debt                             |     | $ |  3,468,911 |

#### 9.

#### Leases
The Company leases its operating facilities in Novato, California, under a non-cancelable operating lease through May 31, 2027. There are no options or rights to extend the term of this lease.

The following table reflects the Company’s ROU assets and lease liabilities as of September 30, 2024 and December 31, 2023:

|                                      |     |   | September 30, 2024 |     |