Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 304

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 304
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 that matches the expected remaining life of the warrants.

Net
(Loss) Income Per Common Stock

The
Company has two categories of shares, which are referred to as common stock subject to possible redemption and common stock. Earnings
and losses are shared pro rata between the two categories of shares. The 17,404,250 potential shares of common stock for outstanding
warrants to purchase the Company’s shares were excluded from diluted earnings per share for the years ended December 31, 2024 and
2023 because the warrants are contingently exercisable, and the contingencies have not yet been met. As a result, diluted net (loss)
income per share of common stock is the same as basic net (loss) income per share of common stock for the periods presented. The
table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net (loss) income per share
for each category of common stock:

    For the Year Ended December 31, 2024  
    For the Year Ended December 31, 2023 

    Common stock subject to possible redemption  
    Common stock  
    Common stock subject to possible redemption  
    Common stock 
  
    Basic and diluted net (loss) income per share: 

    Numerator: 

    Allocation of net (loss) income 
    $(1,096,239) 
    $(7,615,380) 
    $562,049  
    $599,861 

    Denominator: 

    Weighted-average shares outstanding 
     747,644  
     5,193,750  
     4,866,356  
     5,193,750 
  
    Basic and diluted net (loss) income per share 
    $(1.47) 
    $(1.47) 
    $0.12  
    $0.12 

Common
Stock Subject to Possible Redemption

The
Company’s common stock sold as part of the Units in the IPO (“public common stock”) contain a redemption feature which
allows for the redemption of such public shares in connection with the Company’s liquidation, or if there is a stockholder vote
or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company classifies
public common stock outside of permanent equity as the redemption provisions are not solely within the control of the Company. The public