Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 1114

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 1114
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 0.00 
  
    Change in fair value of warrant liabilities 
     (18.7) 
     (11.4)
  
    Business combination expenses 
     0.00  
     5.8 
  
    Penalties and interest 
     0.00  
     0.2 
  
    Change in valuation allowance 
     (3.0) 
     12.6 
  
    Income tax provision 
     (0.90)% 
     28.2%

The Company files income tax returns in the U.S.
federal, New York and New York City jurisdictions and is subject to examination by the various taxing authorities since inception.

F-22

Note
10 – Segment Information

ASC
Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information
about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components
of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial
information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how
to allocate resources and assess performance.

The Company’s chief operating decision maker
(“CODM”) has been identified as its Chief Financial Officer, who reviews the assets, operating results, and financial metrics
for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has
determined that there is only one reportable segment.

The
CODM assesses performance for the single segment and decides how to allocate resources based on net loss that also is reported on the
statement of operations as net loss. The measure of segment assets is reported on the balance sheet as total assets. When evaluating
the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics included
in net (loss) income and total assets, which include the following:

    For the Year Ended December 31, 2024  
    For the Year Ended  December 31, 2023 
  
    Trust Account 
    $8,330,835  
    $10,873,406 
  
    Cash 
    $16,204  
    $4,519 

    For the Year Ended December 31, 2024  
    For the Year Ended  December 31, 2023 
  
    General and administrative