10-Q - NorthView Acquisition Corp (0001859807) (Filer)

Fri, Nov 15, 11:20 AM (28 days ago)

For the quarter ending June 30, 2024, NorthView Acquisition Corp. (NVAC) reported a net loss of $397,487, a significant decline from a net income of $852,389 in the prior year, primarily driven by increased operating costs and losses from changes in the fair value of warrant liabilities. Revenue remains non-existent as the company has yet to complete a business combination. Total assets decreased to $8,589,945 from $10,884,675, largely due to a reduction in cash and marketable securities held in the Trust Account. The company had $6,496 in cash and a working capital deficit of $4,043,301. A convertible promissory note of $1,527,001 was recorded, reflecting a fair value adjustment. NorthView is currently navigating regulatory challenges, including compliance with Nasdaq listing rules, and has extended its business combination deadline to March 22, 2025. The company's future operations are contingent on successfully completing a merger with Profusa, Inc., which remains uncertain amid ongoing market conditions.