Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 249

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 249
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 to access the public or private capital markets whenever conditions are favorable, even
if DiamiR does not have an immediate need for additional capital at that time.

DiamiR does not expect CogniMIR
to be commercially available with reimbursement in place before fiscal 2027, if at all. DiamiR will need to raise substantial additional
capital to complete the development and commercialization of CogniMIR. Because successful development of CogniMIR
is uncertain, DiamiR is unable to estimate the actual funds required to complete research and development and commercialize CogniMIR.
DiamiR also will need to raise substantial additional capital to complete the development and commercialization of other products currently
in development.

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Going Concern

DiamiR has a limited operating
history and incurred net losses of $614,405 and $1,318,431 for the years ended May 31, 2024 and 2023, respectively, and $493,710 in the
nine months ended February 28, 2025. DiamiR used net cash $308,914 in the year ended May 31, 2024 and $130,045 in the nine months ended
February 28, 2025 for operating activities. The accompanying consolidated financial statements have been prepared assuming DiamiR will
continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the
normal course of business. These conditions raise substantial doubt about DiamiR’s ability to continue as a going concern within
twelve months after the date of the consolidated financial statements.

Since the inception of DiamiR
in December 2009, the operations of DiamiR has been funded primarily through grant funding, primarily received through the U.S. Department
of Treasury and the National Institutes of Health (“NIH”), as well as capital contributions of the founders of DiamiR. Management
believes this capital is insufficient to fund DiamiR’s operations for the next twelve months. Management does not anticipate that
DiamiR’s existing working capital alone will be sufficient to fund its operations through the successful development and commercialization
of products. As a result, DiamiR will need to raise additional capital to fund its operations and continue to conduct activities to support
its product development and commercialization activities. Management may raise additional funds by way of a public or private offering
or may be awarded additional grants.