Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 184

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 184
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 expenses was
primarily due to impairment losses of long-lived assets during current period, such as right-of-use assets, which resulted from the decision
to terminate clinic services in the second quarter of 2023, and allowance of credit losses for amount due from related parties, which
results from the decision to suspend non-lead projects owned by the related party.

Other income, net

For the years ended December
31, 2023, and 2022, the other income, net was $6,383,276 and $5,984,011, respectively. The increase in other income, net was mainly
due to the increase in unrealized gain from fair value change of the long-term investments, net.

Net loss attributable to Aptorum Group Limited

For the years ended December
31, 2023, and 2022, net loss attributable to Aptorum Group Limited (excluding net loss attributable to non-controlling interests) was
$2,824,647 and $9,799,560, respectively.

B.

The Group reported a net loss
of $4,157,737 and net operating cash outflow of $1,189,734 for the year ended December 31, 2024. In addition, the Group had an accumulated
deficit of $72,429,528 as of December 31, 2024. On January 2, 2025, the Group entered into a certain securities purchase agreement with
certain non-affiliated institutional investors pursuant to which the Group sold 1,535,000 Class A Ordinary Shares of the Group, par value
$0.00001 per share at a per share price of $2.00 in a registered direct offering, for gross proceeds of $3,070,000. The Group’s
operating results for future periods are subject to numerous uncertainties and it is uncertain if the Group will be able to reduce or
eliminate its net losses for the foreseeable future. If management is not able to generate significant revenues from its product candidates
currently in development, the Group may not be able to achieve profitability. Successful transition to attaining profitable operations
is dependent upon achieving a level of revenues adequate to support the Company’s cost structure. In connection with the Company’s
assessment of going concern considerations in accordance with Financial Accounting Standard Board’s Accounting Standards Update
(“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,”
management has