Company: AEMD
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001683168-25-000960
Chunk: 12

Company: AETHLON MEDICAL INC
Filing Date: 2025-02-12
Form: 10-Q
Item: Item 1
Chunk 12
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 a 1-for-10 reverse
stock split of our then outstanding shares of common stock. Accordingly, each 10 shares of outstanding common stock then held by our stockholders
were combined into one share of common stock. Any fractional shares resulting from the reverse split were rounded up to the next whole
share. Authorized common stock remained at 60,000,000 shares following the stock split. The accompanying unaudited condensed consolidated
financial statements and accompanying notes have been retroactively revised to reflect such reverse stock split as if it had occurred
on April 1, 2023. All shares and per share amounts have been revised accordingly.

Basis of Presentation and Use of Estimates

Our accompanying unaudited condensed consolidated
financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim
financial information and with the instructions to Form 10-Q and Article 8 of the Securities and Exchange Commission (“SEC”)
Regulation S-X. Accordingly, they should be read in conjunction with the audited financial statements and notes thereto for the fiscal
year ended March 31, 2024, included in our Annual Report on Form 10-K filed with the SEC on June 27, 2024. The accompanying unaudited
condensed consolidated financial statements include the accounts of Aethlon Medical, Inc. and its wholly owned subsidiary, Aethlon Medical
Australia Pty Ltd. All significant inter-company transactions and balances have been eliminated in consolidation. The accompanying unaudited
condensed consolidated financial statements, taken as a whole, contain all adjustments that are of a normal recurring nature necessary
to present fairly our operating results, cash flows, and financial position as of and for the period ended December 31, 2024. Estimates
were made relating to useful lives of fixed assets, impairment of assets, share-based compensation expense and accruals for clinical trial
and research and development expenses. Actual results could differ materially from those estimates. The accompanying condensed consolidated
balance sheet at March 31, 2024 has been derived from the audited consolidated balance sheet at March 31, 2024, contained in the above
referenced 10-K. The results of operations for the three and nine months ended December 31, 2024 are not necessarily indicative of the
results to be expected for the full year or any future interim periods.

Reclassifications

Certain prior year balances within the unaudited
condensed consolidated financial statements have been reclassified to