Company: AEMD
Filing Date: 2025-06-26
Form Type: 10-K
Source: 0001683168-25-004780
Chunk: 1007

Company: AETHLON MEDICAL INC
Filing Date: 2025-06-26
Form: 10-K
Item: Item 6
Chunk 1007
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 adoption of ASU No.
2016-13 for smaller reporting companies that did not previously early adopt was January 1, 2023. The Company maintained US Treasury bills
with maturities of less than three months and expects zero credit losses from these securities. As a result, the Company did not record
an allowance for expected credit losses.

2. PROPERTY AND EQUIPMENT, NET

Property and equipment, net, consist of the following:

    Schedule of property and equipment, net 

    March 31, 2025  
    March 31, 2024 
  
    Furniture and office equipment, at cost 
    $1,112,648  
    $1,112,648 
  
    Less: disposals 
     (350,670) 
     – 
  
    Leasehold improvements 
     893,131  
     893,131 
  
    Gross property and equipment 
     1,655,109  
     2,005,779 
  
    Less: accumulated depreciation 
     (978,889) 
     (990,550)
  
    Fixed assets, net 
    $676,220  
    $1,015,229 

     F-15 

Depreciation expense for the fiscal years ended March 31, 2025 and
2024 was $339,009 and $358,507, respectively. During the year ended March 31, 2025, the Company disposed of fully depreciated property
and equipment with an original cost of $350,670. These disposals had no impact on net income, as the assets were fully depreciated
at the time of removal. The reduction in gross property and equipment reflects the Company’s ongoing review and retirement of inactive
or obsolete assets.

3. PATENTS, NET

Patents, net consist of the following:

    Schedule of patents, net 

    March 31, 2025  
    March 31, 2024 
  
    Issued patents 
    $157,442  
    $157,442 
  
    Accumulated amortization 
     (156,892) 
     (156,342)
  
    Patents, net 
    $550  
    $1,100 

Amortization expense for our capitalized issued
patents for each of the fiscal years ended March 31, 2025 and 2024 was $550. As only one