Company: PFSA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076861
Chunk: 42

Company: Profusa, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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10% OID) to be purchased at any time within
12 months of the Initial Closing.

As a result of the Business Combination, the
Company paid $90,000 at the Closing to an advisor for legal services in connection with the issuance of the Convertible Note.

Note 7 – Stockholders’ Deficit

Preferred stock — The
Company is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.0001 and with such designations,
rights and preferences as may be determined from time to time by the Company’s board of directors. As of June 30, 2025 and
December 31, 2024, there was no preferred stock issued or outstanding.

20

Common Stock — The Company
is authorized to issue a total of 100,000,000 shares of common stock at par value of $0.0001 each. In April 2021, the
Company issued 5,175,000 shares of common stock to its Sponsor for $25,000, or approximately $0.005 per share. In October
2021, the Sponsor irrevocably surrendered to the Company for cancellation and for no consideration 862,500 shares of common
stock. On December 20, 2021, the Company effected a 1.1- for-1 stock dividend of its common stock, resulting in an
aggregate of 4,743,750 Founder Shares issued and outstanding. On December 22, 2021, the Company has also issued 450,000 shares
(Representative’s Shares) of common stock (which included 37,500 Representative Shares issued pursuant to the full exercise
of the over-allotment option) at the consummation of the IPO to I-Bankers and Dawson James (and/or their designees). As of
June 30, 2025 and December 31, 2024, there were 5,193,750 shares of common stock issued and outstanding, excluding 101,777
and 687,519 shares of common stock subject to redemption, respectively.

Common stockholders of record are entitled to
one vote for each share held on all matters to be voted on by stockholders. Unless specified in the Company’s amended and restated
certificate of incorporation or bylaws, or as required by applicable provisions of the DGCL or applicable stock exchange rules,