Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 62

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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 period.

For the six months June 30, 2025, cash provided
by investing activities included $99,285 of extension payments made to the trust, $78,813 of reimbursement from the trust of franchise
and income tax payments and cash withdrawn from the trust of $6,510,830 in relation to stock redemptions.

For the six months June 30, 2025, cash used in
financing activities included $507,633 of an advance from Profusa and $6,510,830 paid out in relation to stock redemptions.

For the six months ended June 30, 2024, cash
used in operating activities was $675,730. Net loss of $1,217,764 was impacted primarily by trust interest income of $225,184, change
in fair value of convertible note of $126,098 and change in fair value of our warrant liabilities of $800,595. Changes in operating assets
and liabilities reflected cash provided of $92,721 from operating activities during such period.

For the six months ended June 30, 2024, cash
provided by investing activities included $235,733 of extension payments made to the trust, $204,460 of reimbursement from the trust
of franchise and income tax payments and cash withdrawn from the trust of $2,653,439 in relation to stock redemptions.

For the six months ended June 30, 2024, cash
used in financing activities included $708,981 of proceeds from a convertible promissory note and $2,653,439 paid out in relation to
stock redemptions.

Prior to the completion of the initial public
offering, our liquidity needs had been satisfied through a capital contribution from the sponsor of $25,000 for the founder shares to
cover certain of the offering costs and the loan under an unsecured promissory note from the sponsor of $204,841, which was fully paid
upon the initial public offering. Subsequent to the consummation of the initial public offering and private placement, our liquidity
needs have been satisfied through the proceeds from the consummation of the private placement not held in the trust account, and the
drawdowns on the convertible promissory note.

In order to finance transaction costs in connection
with an intended Business Combination, the initial stockholders or an affiliate of the initial stockholders or certain of the Company’s
officers and directors may, but are not obligated to, provide the Company