Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 114

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 114
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 are forced to sell our bitcoin at a significant loss, in order to meet our
working capital requirements, our business and financial condition could be negatively impacted.

If we or our third-party service providers experience a security breach or cyberattack and unauthorized parties obtain access to our bitcoin, or if our private keys are lost or destroyed, or other similar circumstances or events occur, we may lose some or all of our bitcoin and our financial condition and results of operations could be materially adversely affected.

Substantially all of the bitcoin
we will own will be held in custody accounts at U.S.-based institutional-grade digital asset custodians. Security breaches and cyberattacks
are of particular concern with respect to our bitcoin. Bitcoin and other blockchain-based cryptocurrencies and the entities that provide
services to participants in the bitcoin ecosystem have been, and may in the future be, subject to security breaches, cyberattacks, or
other malicious activities. For example, in October 2021 it was reported that hackers exploited a flaw in the account recovery process
and stole from the accounts of at least 6,000 customers of the Coinbase exchange, although the flaw was subsequently fixed and Coinbase
reimbursed affected customers. Similarly, in November 2022, hackers exploited weaknesses in the security architecture of the FTX
Trading digital asset exchange and reportedly stole over $400 million in digital assets from customers. A successful security breach
or cyberattack could result in:

| ● | a partial or total loss of our bitcoin in a manner that may not be covered by insurance or the liability 
 provisions of the custody agreements with the custodians who hold our bitcoin;                           |

| ● | harm to our reputation and brand; |

| ● | improper disclosure of data and violations of applicable data privacy and other laws; or |

| ● | significant regulatory scrutiny, investigations, fines, penalties, and other legal, regulatory, contractual 
 and financial exposure.                                                                                     |

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Further, any actual or perceived
data security breach or cybersecurity attack directed at other companies with digital assets or companies that operate digital asset networks,
regardless of whether we are directly impacted, could lead to a general loss of confidence in the broader bitcoin blockchain ecosystem
or in the use of the bitcoin network to conduct financial transactions, which could negatively impact us.

Attacks upon systems across
a variety of industries, including industries related to bitcoin, are increasing in frequency, persistence, and sophistication, and, in
many cases, are being conducted by sophisticated, well-funded and