Company: QTIWW
Filing Date: 2025-12-29
Form Type: S-1/A
Source: 0001628280-25-058960
Chunk: 347

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-12-29
Form: S-1/A
Chunk 347
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 December 31, 2024 |      |
|:---------------------------|:----|:--|--------------:|-----:|:----|:--|------------------:|-----:|
| Fair value of common stock |     | $ |         10.59 |      |     | $ |              1.47 |      |
| Term in years              |     |   |               | 1.25 |     |   |                   | 1.26 |
| Volatility                 |     |   |         130.0 |    % |     |   |             120.0 |    % |
| Risk-free rate             |     |   |           4.9 |    % |     |   |               4.2 |    % |
| Debt discount              |     |   |          30.0 |    % |     |   |              30.0 |    % |

The activity for the fair value of the derivative liability during the year ended December 31, 2024 was as follows:

| Beginning balance, January 1, 2024 |     | Derivative Liability |          — |
|:-----------------------------------|:----|:---------------------|-----------:|
| Fair value at issuance             |     |                      |  5,120,900 |
| Change in fair value               |     |                      | -4,817,600 |
| Ending balance, December 31, 2024  |     | $                    |    303,300 |

#### 4. Inventory
Inventory consisted of the following as of December 31, 2024 and 2023:

|                 |     |   | December 31, 2024 |     |   | December 31, 2023 |
|:----------------|:----|:--|------------------:|:----|:--|------------------:|
| Raw materials   |     | $ |         2,551,947 |     | $ |         2,529,364 |
| Work in process |     |   |           278,869 |     |   |         1,627,802 |
| Finished Goods  |     |   |           309,903 |     |   |           261,031 |
| Total           |     | $ |         3,140,719 |     | $ |         4,418,197 |

<div align='center'>F-26</div>

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