v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash $ 16,204
Restricted Cash 18,450
Prepaid expenses and other current assets 14,193 14,166
Prepaid income taxes 11,140 30,492
Prepaid franchise tax 19,400
Total Current Assets 63,183 60,862
Cash held in Trust Account 1,920,401 8,330,835
Total Assets 1,983,584 8,391,697
Current Liabilities:    
Accounts payable and accrued expenses 933,870 684,483
Advance from Profusa 1,176,565 791,407
Excise tax payable 1,946,052 1,880,944
Securities purchase agreement 23,487
Total Current Liabilities 13,254,536 12,314,886
Warrant liabilities 1,044,255 696,170
Total Liabilities 14,298,791 13,011,056
Commitments and Contingencies (Note 6)
Common stock subject to possible redemption, 154,561 and 687,519 shares at redemption value of approximately $12.83 and $12.13 at March 31, 2025 and December 31, 2024, respectively 1,982,557 8,337,388
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 March 31, 2025 and December 31, 2024 (excluding 154,561 and 687,519 shares subject to possible redemption at March 31, 2025 and December 31, 2024, respectively) 519 519
Accumulated deficit (14,298,283) (12,957,266)
Total Stockholders’ Deficit (14,297,764) (12,956,747)
Total Liabilities, Redeemable Common Stock and Stockholders’ Deficit 1,983,584 8,391,697
Related Party    
Current Liabilities:    
Convertible promissory note – related party 9,133,382 8,908,052
Due to related party $ 41,180 $ 50,000