Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 64

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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ger, there
continue to be factors which raise substantial doubt about the Company’s ability to continue as a going concern within one year
from the date the condensed consolidated financial statements are issued. The condensed consolidated financial statements do not contain
any adjustments that might result from the outcome of this uncertainty. 

29

Off-Balance Sheet Financing Arrangements

We did not have any off-balance sheet arrangements
as of June 30, 2025 and December 31, 2024.

Contractual Obligations

As of June 30, 2025 and December 31, 2024, we
did not have any long-term debt or capital or operating lease obligations.

We entered into an administrative services agreement
with our sponsor pursuant to which we pay for office space and secretarial and administrative services provided to members of our management
team, in an amount of $5,000 per month. As of June 30, 2023, the Company and the sponsor terminated this agreement. For the three and
six months ended June 30, 2025 and 2024, $0 had been incurred and billed relating to the administrative service fee. As of June 30, 2025
and December 31, 2024, $50,000 relating to the administrative service fee was not paid and recorded as due to related party.

NorthView previously engaged I-Bankers as an
advisor to assist in holding meetings to discuss the potential business combination and the target business’ attributes, introduce
NorthView to potential investors that are interested providing funding in connection with a Business Combination, assist NorthView in
obtaining stockholder approval for such business combination and assist NorthView with its press releases and public filings in connection
with such business combination (the “Business Combination Marketing Agreement”). In connection with such engagement, NorthView
agreed to pay I-Bankers and Dawson James a cash fee (the “Business Combination Fee”) for such services upon the consummation
of a business combination in an amount equal to 3.68% of the gross proceeds of its initial public offering (exclusive of any applicable
finders’ fees which might become payable). In connection with the Business Combination, NorthView, I-Bankers and Dawson James amended
the Business Combination Marketing Agreement to revise a portion of the Business Combination Fee to be partially payable in NorthView
securities and partially payable in cash upon the closing of the Merger with Profusa, with such securities to be subject to