Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 270

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 270
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, 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 could be material to the Company’s
financial position and results of operations.

Accounts Receivable and Allowance for Credit Losses

The Company does not have any
accounts receivable with customers in the years ended December 31, 2024 and 2023. The Company has developed policies that when accounts
receivables are held with customers, they are recorded at the point in time in which management determines it is probable that the Company
will collect substantially all of the consideration to which it will be entitled in exchange for the goods or services transferred to
the customer.

The Company will then perform
ongoing credit evaluations of its customers and, if necessary, recognize allowances for potential credit losses. The Company does not
require any allowance for credit losses as of December 31, 2024 and 2023.

Concentration of Credit Risk

Financial instruments that
potentially subject the Company to a concentration of credit risk consist of cash and other receivables. Substantially all of the Company’s
cash is held by one financial institution. Such deposits may, at times, exceed federally insured limits. The Company has not experienced
any losses on its cash.

The Company’s other receivables
are represented by amounts owned by two government agencies under the government grants.

Cash and Cash Equivalents

The Company considers all highly
liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of December 31, 2024
and 2023, cash consisted of cash on deposit with a bank denominated in U.S. dollars.

Deferred Offering Costs

Specific incremental costs,
consisting of legal, accounting and other fees and costs, directly attributable to a proposed or actual offering of securities are deferred
and charged against the gross proceeds of the offering. In the event of a significant delay or cancellation of a planned offering of securities,
all of the costs are expensed. Offering costs capitalized as of December 31, 2024 and December 31, 2023 were $2.8 million
and $1.5 million, respectively. The deferred offering costs as of December 31, 2024 and 2023 includes $0.8 million and $0, respectively,
of advances to NorthView to fund costs associated with the business combination.

Share-Based Compensation

The Company accounts for
share-based compensation arrangements with employees