Company: QTIWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001844505-25-000083
Chunk: 43

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 43
---
929,797 3,882,980 Less: accumulated depreciation(3,763,121)(3,687,197)$166,676 $195,783 Depreciation expense was $38,293 and $42,233 for the three months ended June 30, 2025 and 2024, respectively. Depreciation expense was $75,924 and $94,636 for the six months ended June 30, 2025 and 2024, respectively.

6.    Balance Sheet Details

 Prepaid expenses and other current assets consisted of the following as of June 30, 2025 and December 31, 2024: June 30, 2025December 31, 2024Prepaid insurance$268,240 $179,143 Other receivable665,165 131,865 Deferred issuance costs157,685 — Other652,214 205,544 Total$1,743,304 $516,552 Accrued expenses and other current liabilities consisted of the following as of June 30, 2025 and December 31, 2024: June 30, 2025December 31, 2024Accrued legal$1,925,900 $1,867,107 Accrued personnel costs950,214963,865Accrued excise taxes13,790207,358Accrued advisory fee5,400100,000Purchase commitment665,145— Other649,967411,624Total$4,210,416 $3,549,954 

7.    Long-Term Debt

Yorkville Pre-Paid AdvanceOn March 4, 2024, the Company received the Pre-Paid Advance of $10,000,000 from Yorkville and issued Yorkville the Yorkville Note in the amount of $10,000,000 for such Pre-Paid Advance that was originally due 15 months from the date of issuance, and interest shall accrue on the outstanding balance of the Yorkville Note at an annual rate equal to 6%, subject to an increase to 18% upon an event of default as described in the Yorkville Note. The Yorkville Note is convertible by Yorkville into shares of the Company's common stock. As consideration for the Pre-Paid Advance, immediately prior to, and substantially concurrently with, the closing of the Business Combination, QT Imaging issued to Yorkville that number of shares