Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 61

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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386, change in fair value of convertible note of $1,154,729, and change in fair value of securities purchase
agreement of $170,391 offset by interest income on cash held in the Trust Account of $15,159.

For the six months ended June 30, 2025, we had
net loss of $9,316,786, which consisted of operating costs of $1,550,665, change in fair value of our warrant liabilities of $6,265,530,
income tax provision of $21,738, change in fair value of convertible note of $1,380,059, and change in fair value of securities purchase
agreement of $193,878 offset by interest income on cash held in the Trust Account of $95,084.

For the three months ended June 30, 2024, we
had net loss of $397,487, which consisted of operating costs of $253,130, income tax provision of $23,026, and a loss of $295,872 for
the change in fair value of our warrant liabilities, offset by interest income on securities held in the Trust Account of $108,520 and
change in fair value of convertible note of $66,021.

For the six months ended June 30, 2024, we had
net loss of $1,217,764, which consisted of operating costs of $723,971, income tax provision of $44,480, and a loss of $800,595 for the
change in fair value of our warrant liabilities, offset by interest income on securities held in the Trust Account of $225,184 and change
in fair value of convertible note of $126,098.

Liquidity and Going Concern

As of June 30, 2025, we had $1,751 in restricted
cash and a working capital deficit of $15,492,554.

28

For the six months June 30, 2025, cash used in
operating activities was $501,614. Net loss of $9,316,786 was impacted primarily by trust interest income of $95,084, change in fair
value of our warrant liabilities of $6,265,530, change in fair value of convertible note of $1,380,059, change in fair value of securities
purchase agreement of $193,878 and changes in operating assets and liabilities reflected cash provided by operating activities of $1,070,789
during such