Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 316

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 316
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.S. GAAP”).
The interim unaudited condensed consolidated financial statements have been prepared on the same basis as the annual audited consolidated
financial statements and in accordance with the rules and regulations of the United States Securities and Exchange Commission (the
“SEC”). In the opinion of management, the interim unaudited financial statements reflect all adjustments, which include only
normal recurring adjustments, necessary for the fair presentation of the Company’s financial position as of June 30, 2025,
the results of its operations and changes to stockholders’ equity for the three and six months ended June 30, 2025 and
2024, and its cash flows for the six months ended June 30, 2025 and 2024. The results for the three and six months ended
June 30, 2025, are not necessarily indicative of results to be expected for the year ending December 31, 2025, or any other
interim periods, or any future year or period. All amounts included herein have been rounded except where otherwise stated. As figures
are rounded, numbers presented throughout this document may not add up precisely to the totals we provide and percentages may not precisely
reflect the absolute figures. Certain disclosures have been consolidated or omitted from the unaudited interim condensed consolidated
financial statements.

<div align='center'>F-36

PROFUSA, INC. AND SUBSIDIARY
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)</div>

Note 2 — Summary of Significant Accounting Policies(cont.)

The accompanying interim
unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements
and the related disclosures as of December 31, 2024 and for the year then ended as found in the Form S-4/A filed by the Company
with the SEC on April 3, 2025.

Use of Estimates

The preparation of condensed
consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenue and
expenses in the condensed consolidated financial statements and accompanying notes. The Company’s management regularly assesses
these estimates, including those related to accrued liabilities, valuation of the convertible debt, and senior notes, valuation allowance
for deferred tax assets, and valuation of stock-based awards. Actual results could differ from these estimates, and such differences