Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 408

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 408
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 These regulations provided that the filing
and payment deadline for any liability incurred during the period from January 1, 2023 to December 31, 2023 would be October 31,
2024. As of June 30, 2025 and the date of this report, the excise tax was not paid and was recorded as excise tax payable. Any amount
of such Excise Tax not paid in full, could be subject to additional interest and penalties which are currently estimated at 7% or 9% interest
per annum and a 0.5% underpayment penalty per month or portion of a month up to 25% of the total liability for any amount that is unpaid.

As of June 30, 2025 and
December 31, 2024, $1,952,662 and $1,880,944 in excise tax was accrued on the accompanying condensed consolidated balance sheets,
respectively. On January 29, 2025, the Company claimed disaster relief under IRC Section 7508A relating to Hurricane Beryl as
announced in IRS Announcement TX-2024-08. Under the disaster relief claim, the time for filing of the September 30, 2024 Quarterly
Federal Excise Tax Return and payment of the 2023 excise taxes on repurchases of corporate stock normally due on October 31, 2024
should be postponed to February 3, 2025. The Company was not subject to excise tax interest and penalties until February 3,
2025. On January 29, 2025, the Company filed their 2024 excise tax return. The Company did not repay the excise tax in full by June 30,
2025. As of June 30, 2025, the Company accrued approximately $105,970 interest and penalties in the accompanying condensed consolidated
statements of operations.

Note 2 — Significant Accounting Policies

Basis of Presentation

The accompanying unaudited
condensed consolidated financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted
in the United States of America (“GAAP”) for financial information and pursuant to the rules and regulations of the SEC. Accordingly,
they do not include all of the information and footnotes required by GAAP. In the opinion of management, the unaudited condensed
consolidated financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement
of the balances and results for the periods presented