Company: QTIWW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001844505-25-000053
Chunk: 28

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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32,470)Repayment of bridge loans— (800,000)Proceeds from the Merger, net of transaction costs— 1,238,530 Net cash provided by financing activities5,352,198 11,431,060 Net increase in cash and restricted cash and cash equivalents1,815,399 5,455,545 Cash and restricted cash and cash equivalents, beginning of year1,192,104 184,686 Cash and restricted cash and cash equivalents, end of year$3,007,503 $5,640,231 Supplemental disclosure of cash flow information:Cash paid for interest$12,246 $160,545 Supplemental disclosures of noncash investing and financing activities:Purchases of equipment included in accounts payable$5,607 $— Fair value of embedded derivatives upon issuance of convertible debt— 5,120,900 Fair value of common stock issued with convertible debt— 2,312,617 Transfer of equipment to inventory— 284,444 Conversion of accrued interest into common stock174,397 — Extinguishment of accrued expenses in exchange for common stock— 3,760,000 Debt issuance costs included in accrued expenses144,300 40,740 

The accompanying notes are an integral part of these condensed consolidated financial statements.4

Table of ContentsQT IMAGING HOLDINGS, INC.Condensed Consolidated Statements of Cash Flows(Unaudited)

Conversion of long-term debt into common stock182,682 3,433,388 Fair value of warrants issued in exchange for issuance of long-term debt16,496,084 —        Conversion of accrued legal costs to debt25,000 — 

The accompanying notes are an integral part of these condensed consolidated financial statements.5

Table of ContentsQT IMAGING HOLDINGS, INC.Notes to Condensed Consolidated Financial Statements(Unaudited)

1.The Company and Summary of Significant Accounting Policies

Nature of OperationsQT Imaging Holdings, Inc. and its subsidiaries (the “Company”), formerly known as GigCapital5, Inc. (“GigCapital5”), is incorporated in Delaware with headquarters in Novato, California. The Company is a medical device company engaged in research, development, and commercialization of innovative body imaging systems using low frequency sound waves. The Company strives to improve global health outcomes. Its strategy is predicated upon the fact that medical imaging is critical to the detection, diagnosis, and treatment of disease