Company: APM
Filing Date: 2025-10-06
Form Type: S-4
Source: 0001213900-25-096656
Chunk: 524

Company: Aptorum Group Ltd
Filing Date: 2025-10-06
Form: S-4
Chunk 524
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ers

Convertible notes payable consist of the following:

|                                 |     |   | May 31, 
    2025 |     |   | May 31, 
    2024 |
|:--------------------------------|:----|:--|--------:|:----|:--|--------:|
| Executive director              |     | $ | 872,245 |     | $ | 536,861 |
| Former Chief Scientific Officer |     |   |  85,417 |     |   |  77,321 |
| Total                           |     | $ | 957,662 |     | $ | 614,182 |

F-63

DIAMIR BIOSCIENCES CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 8 — CONVERTIBLE NOTES PAYABLE (cont.)

In the year ended May 31, 2024, the Company amended its outstanding convertible note (“Note”) to its executive director to reflect additional borrowings of $ during the year and interest accrued to the date of the amended note. In the year ended May 31, 2025, the Company amended its outstanding convertible note (“Note”) to its executive director to reflect additional borrowings of $ during the year and interest accrued to the date of the amended note. The Company estimates that the nominal interest rate on the Note is less than rates that may be obtained from third parties. The Company recorded discounts of $ on the additional borrowing at an estimated effective rate of %, as an addition to paid-in capital. Other terms and conditions of the Note were not affected. The notes are payable in full on December 31, 2026.

No payments of principal or interest on the notes are required prior to maturity. The notes call for interest at % per annum, compounded monthly and are convertible, at the option of the holder, upon the Company’s next equity financing involving the Company’s sale of its equity securities to third party investors. Upon any conversion, all unpaid principal and accrued unpaid interest on the Notes will be exchanged for the Company’s securities at the lowest per unit price for securities sold to third parties in the next equity financing.

In addition, the Notes are due upon demand at the option of the holder when there is a liquidation event, which shall include:

(i)The closing of the sale, lease, transfer or other disposition of all or substantially all of the assets of Company or the grant of any exclusive license to any material portion of the Company’s intellectual property;

(ii)The consumm