Company: QTIWW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001628280-25-051332
Chunk: 49

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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424,513 Leasehold improvementsVarious421,266 421,266 Software3 Years50,374 50,374 Furniture and fixtures7 Years82,336 82,336 3,929,798 3,882,980 Less: accumulated depreciation(3,802,671)(3,687,197)$127,127 $195,783 Depreciation expense was $39,550 and $19,508 for the three months ended September 30, 2025 and 2024, respectively. Depreciation expense was $115,474 and $114,144 for the nine months ended September 30, 2025 and 2024, respectively.

6.    Balance Sheet Details

 Prepaid expenses and other current assets consisted of the following as of September 30, 2025 and December 31, 2024: September 30, 2025December 31, 2024Prepaid insurance$173,617 $179,143 Other receivable23,345 131,865 Deferred issuance costs251,963 — Other617,876 205,544 Total$1,066,801 $516,552 Accrued expenses and other current liabilities consisted of the following as of September 30, 2025 and December 31, 2024: September 30, 2025December 31, 2024Accrued legal$2,042,991 $1,867,107 Accrued personnel costs1,147,288963,865Accrued excise taxes—207,358Accrued advisory fee101,963100,000Accrued purchases1,680,9701,834 Other262,004409,790Total$5,235,216 $3,549,954 

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7.    Long-Term Debt

Yorkville Pre-Paid AdvanceOn March 4, 2024, the Company received the Pre-Paid Advance of $10,000,000 from Yorkville and issued Yorkville the Yorkville Note in the amount of $10,000,000 for such Pre-Paid Advance that was originally due 15 months from the date of issuance, and interest shall accrue on the outstanding balance of the Yorkville Note at an annual rate equal to 6%, subject to an increase to 18% upon an event of default as described in the Yorkville Note. The