Profusa, Inc.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 31, 2025
PFSA$0.55+2.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Current Assets: | ||
| Cash | $16,204 | $4,519 |
| Prepaid expenses and other current assets | 14,166 | 6,750 |
| Prepaid income taxes | 30,492 | — |
| Cash and marketable securities held in Trust Account | — | 1,565,078 |
| Total Current Assets | 60,862 | 1,576,347 |
| Cash and marketable securities held in Trust Account | 8,330,835 | 9,308,328 |
| Total Assets | $8,391,697 | $10,884,675 |
| Liabilities, Redeemable Common Stock and Stockholders’ Deficit | ||
| Current Liabilities: | ||
| Accounts payable and accrued expenses | $684,483 | $449,114 |
| Advance from Profusa | 791,407 | — |
| Excise tax payable | 1,880,944 | 1,864,106 |
| Common stock to be redeemed (1) | — | 1,565,078 |
| Income tax payable | — | 49,061 |
| Convertible promissory note – related party | 8,908,052 | 944,118 |
| Due to related party | 50,000 | 50,000 |
| Total Current Liabilities | 12,314,886 | 4,921,477 |
| Deferred tax liability | — | 13,661 |
| Warrant liabilities | 696,170 | 156,639 |
| Total Liabilities | 13,011,056 | 5,091,777 |
| Commitments and Contingencies (Note 6) | ||
| Common stock subject to possible redemption, 687,519 and 833,469 shares at redemption value of approximately $12.13 and $11.10 at December 31, 2024 and 2023, respectively | 8,337,388 | 9,252,208 |
| Stockholders’ Deficit: | ||
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding | — | — |
| Common stock, $0.0001 par value; 100,000,000 shares authorized; 5,193,750 shares issued and outstanding at December 31, 2024 and 2023 (excluding 687,519 and 833,469 shares subject to possible redemption at December 31, 2024 and 2023, respectively) | 519 | 519 |
| Accumulated deficit | (12,957,266) | (3,459,829) |
| Total Stockholders’ Deficit | (12,956,747) | (3,459,310) |
| Total Liabilities, Redeemable Common Stock and Stockholders’ Deficit | $8,391,697 | $10,884,675 |
| (1) | In connection with the special meeting of stockholders to vote on extending the Combination Period, on December 21, 2023, 140,663 shares of the Company’s common stock were redeemed at a per share price of $11.13. In January 2024, $1,565,078 was paid from the Trust Account to redeeming stockholders in connection with the extension. As a result, the Company has recorded a liability of $1,565,078 as common stock to be redeemed and reduced common stock subject to possible redemption as of December 31, 2023 on the consolidated balance sheet. |
The accompanying notes are an integral part of the consolidated financial statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.