Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 100

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4
Chunk 100
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 the following subsidiaries: Aptorum Therapeutics Limited, Acticule Life Sciences Limited and Paths
Diagnostics Pte. Limited. All investments into our company are into the parent company, Aptorum Group Limited, a Cayman Islands exempted
company with limited liability whose principal place of business is in Hong Kong; you may never hold direct equity interests in our subsidiaries
or the VIEs.

In accordance with the provisions of Accounting Standards Codification
(“ ASC”) 810, Consolidation, we consolidate any VIE of which we are regarded as the primary beneficiary for accounting purposes.
The typical condition for a controlling financial interest ownership is holding a majority of the voting interests of an entity; however,
a controlling financial interest may also exist in entities, such as VIEs, through arrangements that do not involve controlling voting
interests. We have determined that we have one VIE, namely, Libra, according to the U. S. GAAP. In accordance with ASC 810, we have considered
Libra’s memorandum and article of association, and determined that we do not have such power over Libra’s research and development
activities, which activities most significantly impact Libra’s economic performance. Accordingly, we determined that we are not
regarded as the primary beneficiary of Libra for accounting purposes. Libra did not have any operations during the year ended December
31, 2024.

Foreign Private Issuer Status

We are a foreign private issuer
within the meaning of the rules under the Exchange. As such, we are exempt from certain provisions applicable to United States domestic
public companies. For example:

  we are not required to provide as many Exchange Act reports, or as frequently, as a domestic public company;  
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  for interim reporting, we are permitted to comply solely with our home country requirements, which are less rigorous than the rules that apply to domestic public companies;  

  we are not required to provide the same level of disclosure on certain issues, such as executive compensation;  

  we are exempt from provisions of Regulation FD aimed at preventing issuers from making selective disclosures of material information;  

  we are not required to comply with the sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations in respect of a security registered under the Exchange Act...  

  we are not required to comply with Section 16 of the Exchange Act requiring insiders to file public reports of their share