Company: AEMD
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001683168-25-008271
Chunk: 64

Company: AETHLON MEDICAL INC
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 8
Chunk 64
---
853,493 and working capital of $4,848,883. This compares to a cash balance of $5,501,261 and working capital of $4,050,514 at March
31, 2025.

We do not expect our existing cash as of September
30, 2025, to be sufficient to fund our operations for at least twelve months from the issuance date of these financial statements.

As we expand our activities, our overhead costs
to support personnel, laboratory materials and infrastructure will increase and significant additional financing must be obtained to provide
a sufficient source of operating capital. Should the financing we require to sustain our working capital needs be unavailable to us on
reasonable terms, if at all, when we require it, we may be unable to support our research and our planned clinical trials. The failure
to implement our research and clinical trials would have a material adverse effect on our ability to conduct planned clinical trials and
commercialize our products.

Future capital requirements will depend upon many
factors, including progress with pre-clinical testing and clinical trials, the number and breadth of our clinical programs, the time and
costs associated with intellectual property protection and enforcement, regulatory and compliance obligations, the competitive landscape,
and our ability to enter into strategic partnerships or other collaborative arrangements. We expect to continue to incur increasing negative
cash flows and net losses for the foreseeable future.

Cash Flows

Cash flows from operating, investing and financing
activities, as reflected in the accompanying Condensed Consolidated Statements of Cash Flows, are summarized as follows:

    (In thousands) For the six months ended 

    September 30,  2025  
    September 30,  2024 
  
    Cash (used in) provided by: 

    Operating activities 
    $(3,374) 
    $(3,962)
  
    Financing activities 
     3,736  
     5,375 
  
    Effect of exchange rate changes on cash 
     (9) 
     4 
  
    Net increase in cash and restricted cash 
    $353  
    $1,417 

 21 

NET CASH USED IN OPERATING ACTIVITIES. Net cash
used in operating activities was approximately $3,374,000 for the six months ended September 30, 2025, compared to approximately $3,962,000
for the same period in 2024. The decrease was primarily driven by a lower net loss in