| Schedule of Changes in Debt Instruments |
The following table sets forth a summary of the debt instruments and their changes during the six months ended June 31, 2025 and 2024 (in thousands):
|
|
|
Convertible
Notes
|
|
Tasly
Convertible
Debt
|
|
Senior
Notes
|
|
Promissory
Notes
|
|
PPP
Loan
|
|
Balance at January 1, 2025
|
|
$
|
18,419 |
|
$
|
2,234 |
|
$
|
25,268 |
|
$
|
910 |
|
$
|
1,376 |
|
Issuance of debt
|
|
|
—
|
|
|
—
|
|
|
1,450 |
|
|
—
|
|
|
—
|
|
Debt repayments
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Change in fair value
|
|
|
—
|
|
|
118 |
|
|
—
|
|
|
—
|
|
|
—
|
|
Stated interest
|
|
|
1,098 |
|
|
191 |
|
|
1,176 |
|
|
30 |
|
|
7 |
|
Amortization of debt discount and issuance costs
|
|
|
16 |
|
|
—
|
|
|
1 |
|
|
—
|
|
|
—
|
|
Balance at June 30, 2025
|
|
$
|
19,533 |
|
$
|
2,543 |
|
$
|
27,895 |
|
$
|
940 |
|
$
|
1,383 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Current portion
|
|
|
19,533 |
|
|
2,543 |
|
|
27,895 |
|
|
940 |
|
|
1,383 |
|
Long term debt
|
|
$
|
—
|
|
$
|
—
|
|
$
|
—
|
|
$
|
—
|
|
$
|
—
|
|
|
|
Convertible
Notes
|
|
Tasly
Convertible
Debt
|
|
Senior
Notes
|
|
Promissory
Notes
|
|
PPP
Loan
|
|
Balance at December 31, 2023
|
|
$
|
16,316 |
|
$
|
1,714 |
|
$
|
20,155 |
|
|
$
|
849 |
|
$
|
1,362 |
|
Issuance of debt
|
|
|
—
|
|
|
16 |
|
|
1,120 |
|
|
|
—
|
|
|
—
|
|
Debt repayments
|
|
|
—
|
|
|
—
|
|
|
(115 |
)
|
|
|
—
|
|
|
—
|
|
Change in fair value
|
|
|
—
|
|
|
11 |
|
|
—
|
|
|
|
—
|
|
|
—
|
|
Stated interest
|
|
|
993 |
|
|
97 |
|
|
994 |
|
|
|
31 |
|
|
7 |
|
Amortization of debt discount and issuance costs
|
|
|
39 |
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
Balance at June 30, 2024
|
|
$
|
17,348 |
|
$
|
1,838 |
|
$
|
22,154 |
|
|
$
|
880 |
|
$
|
1,369 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long term debt
|
|
$
|
—
|
|
$
|
—
|
|
$
|
—
|
|
|
$
|
—
|
|
$
|
—
|
|
The following table sets forth a summary of the debt instruments (which are all classified as current liabilities in the accompanying consolidated balance sheets and their changes during the years ended December 31, 2024 and 2023 (in thousands):
|
|
|
Convertible
Notes
|
|
Tasly
Convertible
Debt
|
|
Senior
Notes
|
|
Promissory
Notes
|
|
PPP
Loan
|
|
Balance at January 1, 2023
|
|
$
|
13,981 |
|
$
|
—
|
|
$
|
15,149 |
|
|
$
|
576 |
|
|
$
|
1,326 |
|
Issuance of debt
|
|
|
—
|
|
|
1,600 |
|
|
3,235 |
|
|
|
375 |
|
|
|
—
|
|
Debt repayments
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
(151 |
)
|
|
|
—
|
|
Change in fair value
|
|
|
—
|
|
|
22 |
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
Stated interest
|
|
|
1,820 |
|
|
92 |
|
|
1,771 |
|
|
|
49 |
|
|
|
36 |
|
Amortization of debt discount and issuance costs
|
|
|
515 |
|
|
—
|
|
|
(0 |
)
|
|
|
—
|
|
|
|
—
|
|
Balance at December 31, 2023
|
|
|
16,316 |
|
|
1,714 |
|
|
20,155 |
|
|
|
849 |
|
|
|
1,362 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at January 1, 2024
|
|
$
|
16,316 |
|
$
|
1,714 |
|
$
|
20,155 |
|
|
$
|
849 |
|
|
$
|
1,362 |
|
Issuance of debt
|
|
|
—
|
|
|
16 |
|
|
3,210 |
|
|
|
—
|
|
|
|
—
|
|
Debt repayments
|
|
|
—
|
|
|
—
|
|
|
(150 |
)
|
|
|
—
|
|
|
|
—
|
|
Change in fair value
|
|
|
—
|
|
|
311 |
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
Stated interest
|
|
|
2,057 |
|
|
193 |
|
|
2,053 |
|
|
|
61 |
|
|
|
14 |
|
Amortization of debt discount and issuance costs
|
|
|
46 |
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
Balance at December 31, 2024
|
|
$
|
18,419 |
|
$
|
2,234 |
|
$
|
25,268 |
|
|
$
|
910 |
|
|
$
|
1,376 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Current portion
|
|
|
18,419 |
|
|
2,234 |
|
|
25,268 |
|
|
|
910 |
|
|
|
1,376 |
|
Long term debt
|
|
$
|
—
|
|
$
|
—
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
| Schedule of Future Minimum Payments for the Convertible Notes Payable |
As of June 30, 2025, future minimum payments for the convertible notes payable were as follows (in thousands):
|
|
|
Convertible
Notes
|
|
Tasly
Convertible
Debt
|
|
Senior
Notes
|
|
As of June 30, 2025
|
|
$
|
19,603 |
|
|
$
|
2,287 |
|
|
$
|
26,003 |
|
|
Total future payments
|
|
|
19,603 |
|
|
|
2,287 |
|
|
|
26,003 |
|
|
Less: fair value remeasurement
|
|
|
—
|
|
|
|
451 |
|
|
|
—
|
|
|
Less: unamortized debt discount
|
|
|
—
|
|
|
|
—
|
|
|
|
1,967 |
|
|
Less: interest
|
|
|
(70 |
)
|
|
|
(195 |
)
|
|
|
(75 |
)
|
|
Total convertible notes payable
|
|
$
|
19,533 |
|
|
$
|
2,543 |
|
|
$
|
27,895 |
|
|
As of December 31, 2024, future minimum payments for the convertible notes payable were as follows (in thousands):
|
|
|
Convertible
Notes
|
|
Tasly
Convertible
Debt
|
|
Senior
Notes
|
|
Total future principal payments
|
|
$
|
19,533 |
|
|
$
|
1,998 |
|
|
$
|
24,396 |
|
|
Add: fair value remeasurement
|
|
|
—
|
|
|
|
333 |
|
|
|
—
|
|
|
Add (less): unamortized debt (premium) discount
|
|
|
(2 |
)
|
|
|
—
|
|
|
|
2,055 |
|
|
Less: interest
|
|
|
(1,112 |
)
|
|
|
(97 |
)
|
|
|
(1,183 |
)
|
|
Total convertible notes payable
|
|
$
|
18,419 |
|
|
$
|
2,234 |
|
|
$
|
25,268 |
|
|
| Schedule of Contractual Future Minimum Payments for the PPP Loan |
As of June 30, 2025, the contractual future minimum payments for the PPP Loan 2 were as follows (in thousands):
|
Year Ending December 31,
|
|
Amount
|
|
2025 (remainder)
|
|
|
1,245 |
|
2026
|
|
|
145 |
|
Total
|
|
$
|
1,390 |
|
As of December 31, 2024, the contractual future minimum payments for the PPP Loan 2 were as follows (in thousands):
|
Year Ending December 31,
|
|
Amount
|
|
2025
|
|
|
1,231 |
|
2026
|
|
|
145 |
|
Total
|
|
$
|
1,376 |
|