Company: QTIWW
Filing Date: 2025-01-31
Form Type: S-1/A
Source: 0001628280-25-003316
Chunk: 467

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-31
Form: S-1/A
Chunk 467
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arrant and note payable revaluation  |     |   |       47,377 |     |   |      -75,812 |
| Valuation allowance on start-up costs |     |   |    1,364,927 |     |   |    1,227,602 |
| Provision for income taxes            |     | $ |      419,119 |     | $ |      486,615 |

For the year ended December 31, 2023 and 2022, the effective tax rate differs from the U.S. statutory rate primarily due to the valuation allowance on the start-up costs.

<div align='center'>F-87</div>

#### GIGCAPITAL5, INC.

#### Notes to Financial Statements
The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities as of December 31, 2023 and 2022 were as follows:

|                                       |     |   | December 31, 
         2023 |     |   | December 31, 
         2022 |
|:--------------------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Deferred tax assets:                  |     |   |              |     |   |              |
| Start-up costs                        |     | $ |    2,895,226 |     | $ |    1,530,299 |
| Valuation allowance                   |     |   |   -2,895,226 |     |   |   -1,530,299 |
| Net deferred tax assets (liabilities) |     | $ |            — |     | $ |            — |

As of December 31, 2023 and 2022, the Company has recorded a valuation allowance of $ 2,895,226and $ 1,530,299, respectively, to offset deferred tax assets related to its start-up costs. The valuation allowance increased by $ 1,364,927and $ 1,227,602for the years ended December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, the Company has nounrecognized tax benefits for which a liability should be recorded. The Company records interest and penalties associated with unrecognized tax benefits as a component of tax expense. As of December 31, 2023 and 2022, the Company has not accrued interest or penalties on unrecognized tax benefits, as