Company: QTIWW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001844505-25-000038
Chunk: 301

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 301
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, California, under a non-cancelable operating lease through May 31, 2027. There are no options or rights to extend the term of this lease.

F-30

The following table reflects the Company’s ROU assets and lease liabilities as of December 31, 2024 and 2023:December 31, 2024December 31, 2023Assets:Operating lease ROU assets, net$935,246 $1,267,121 Liabilities:Operating lease liabilities, current$405,678 $361,305 Operating lease liabilities656,955 1,062,633 $1,062,633 $1,423,938 The following table presents supplemental cash flow information related to the Company’s operating leases for the year ended:Year Ended December 31,20242023Operating cash flows from operating leases$462,295 $441,111 As of December 31, 2024, the maturity of operating lease liabilities was as follows:Year ending December 31:2025$476,164 2026490,449 2027206,864 Total payments1,173,477 Less: Interest(110,844)Present value of obligations$1,062,633 The operating lease expense for the years ended December 31, 2024 and 2023 was $454,780 and $453,889, respectively, of which $21,915 and $21,024, respectively, were related to leases with a term of less than 12 months.

As of December 31, 2024, the weighted-average remaining lease term was 2.4 years and the weighted-average discount rate was 8% for the year ended December 31, 2024. As of December 31, 2023, the weighted-average remaining lease term was 3.4 years and the weighted-average discount rate was 8% for the year ended December 31, 2023. 

10.Contingencies

LitigationThe Company is subject to occasional lawsuits, investigations, and claims arising out of the normal conduct of business. As of the date the consolidated financial statements were available to be issued, management is not aware of any pending claims that will have a material impact on the Company’s consolidated financial statements.

11.Stockholders’ Deficit

Common StockThe Company's common stock trades on the OTCQB Venture Market tier under the symbol “QTIH”. Pursuant to the terms of