Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 148

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 148
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 to the IPO, identifying a target company for a Business Combination. We have neither engaged in any
operations nor generated any operating revenues to date. We will not generate any operating revenues until after the completion of our
initial Business Combination, at the earliest. We will generate non-operating income in the form of interest income and unrealized gains
from the cash and marketable securities held in the Trust Account. We expect to incur expenses as a result of being a public company
(for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended June 30, 2025, we
had net loss of $8,196,876, which consisted of operating costs of $967,084, change in fair value of our warrant liabilities of $5,917,445,
income tax provision of $2,386, change in fair value of convertible note of $1,154,729, and change in fair value of securities purchase
agreement of $170,391 offset by interest income on cash held in the Trust Account of $15,159.

For the six months ended June 30, 2025, we had
net loss of $9,316,786, which consisted of operating costs of $1,550,665, change in fair value of our warrant liabilities of $6,265,530,
income tax provision of $21,738, change in fair value of convertible note of $1,380,059, and change in fair value of securities purchase
agreement of $193,878 offset by interest income on cash held in the Trust Account of $95,084.

For the three months ended June 30, 2024, we
had net loss of $397,487, which consisted of operating costs of $253,130, income tax provision of $23,026, and a loss of $295,872 for
the change in fair value of our warrant liabilities, offset by interest income on securities held in the Trust Account of $108,520 and
change in fair value of convertible note of $66,021.

For the six months ended June 30, 2024, we had
net loss of $1,217,764, which consisted of operating costs of $723,971, income tax provision of $44,480, and a loss of $800,595 for the
change in fair value of our warrant liabilities, offset by interest income on securities held in the Trust Account of $225