Company: QTIWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001844505-25-000083
Chunk: 25

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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,666 — Debt modification expense90,000 — Provision for credit losses— 1,290 Fair value of common stock issued in exchange for services and in connection with non-redemption agreements— 3,718,349 Loss on issuance of common stock in connection with a subscription agreement— 206,000 Non-cash interest547,820 1,200,670 Non-cash operating lease income(18,725)(11,876)Change in fair value of warrant liability3,501,079 (190,819)Change in fair value of derivative liability(101,300)(4,712,800)Change in fair value of earnout liability(160,000)(2,920,000)Changes in operating assets and liabilities:Accounts receivable(3,584,191)(669,138)Inventory(90,379)1,352,734 Prepaid expenses and other current assets(1,226,752)(553,691)Accounts payable771,743 (2,280,535)Accrued expenses and other current liabilities938,963 51,572 Deferred revenue(15,079)(315,873)Other liabilities435,614 (377,772)Net cash used in operating activities(4,978,822)(6,955,081)Cash flows from investing activities:Purchases of property and equipment(46,818)(26,977)Net cash used in investing activities(46,818)(26,977)Cash flows from financing activities:Proceeds from sale of common stock and warrants700,000 — Proceeds from issuance of common stock pursuant to subscription agreement, net of issuance costs— 500,000 Proceeds from long-term debt, net of issuance costs10,000,000 10,525,000 Repayment of long-term debt(4,674,284)(65,018)Repayment of bridge loans— (800,000)Payment of deferred issuance costs(150,000)— Proceeds from the Merger, net of transaction costs— 1,238,530 Net cash provided by financing activities5,875,716 11,398,512 Net increase in cash and restricted cash and cash equivalents850,076 4,416,454 Cash and restricted cash and cash equivalents, beginning of year1,192,104 184,686 Cash and restricted cash and cash equivalents, end of year$2,042,180