Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 201

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 201
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 was primarily driven by our net loss of $7.0 million, adjusted for non-cash charges of $3.6 million and net cash
inflows of $1.5 million provided by changes in our operating assets and liabilities. Non-cash charges primarily consisted of non-cash
interest expense of $3.2 million, partially offset by change in the fair value of related party convertible loan of $0.3 million. The
main driver of the cash inflows from the changes in operating assets and liabilities was primarily related to an increase in accounts
payable of $0.7 million and in accrued liabilities of $1.1 million and a decrease in prepaid expenses and other current assets of $0.3
million.

Financing Activities

Cash provided by financing activities was $14.9 million the nine months
ended September 30, 2025, which consisted primarily of net proceeds from the issuance of senior notes, PIPE proceeds, ELOC proceeds, and
the close of the business combination (as discussed above).

Cash provided by financing activities was $1.8 million for the nine
months ended September 30, 2024, which consisted primarily of net proceeds from the issuance of senior notes of $2.1 million, offset by
payment of deferred offering costs of $0.1 million and repayment of related party promissory notes of $0.2 million.

46

Contractual Obligations

The following table summarizes our contractual obligations as of September
30, 2025, and the years in which these obligations are due (in thousands):

    Total  
    2025  
    2026 
  
    Tasly Convertible Debt - Related Party 
    $2,207  
    $2,207  
    $— 
  
    Convertible promissory note - related party 
     1,920  
     1,920  

    Loans payable - related party 
     14,359  
     —  
     14,359 
  
    Senior notes 
     154  
     154  
     — 
  
    Promissory notes 
     1,045  
     1,045  
     — 
  
    PPP loan 
     1,386  
     1,386  
     — 
  
    Total contractual obligations 
    $21,071  
    $6,712  
    $14,359