Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 241

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 241
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,746 for the nine months ended February 29, 2024. The decrease reflects a decrease of approximately
$138,000 in stock based compensation expense, lower personnel costs from salary reductions and reduced, and other direct expenses for
our CogniMIR product candidate corresponding to the decrease in available grant funding. Decreased stock-based compensation
primarily reflects greater vesting of options to DiamiR’s CEO in the nine months ended February 28, 2025. Certain other options
and RSUs awarded to DiamiR’s CEO vest upon the achievement of specified financing and development milestones not currently considered
probable, for which significant stock-based compensation expense may be recognized in future periods.

General and Administrative Expenses

General and administrative expenses consist primarily
of professional fees for legal, consulting, auditing, and tax services, patent costs and personnel costs, including stock-based compensation.
Other general and administrative expenses include facility and office expenses, conference fees and travel.

General and Administrative expense was $503,517 for the nine months
ended February 28, 2025 compared to $456,314 for the nine months ended February 29, 2024. In the nine months ended February 28, 2025,
DiamiR expensed approximately $140,000 of deferred offering costs, which was partially offset by decreased employee compensation and consulting
fees in the period.

Interest Expense

Interest expense relates to interest accrued and the amortization of
discounts on loans obtained from founders. Interest expense was $59,451 for the nine months ended February 28, 2025 compared to $33,473
for the nine months ended February 29, 2024, The increase reflects additional loans received from the founders in the intervening periods.

Income Taxes

Income Tax expense was $14,346 and $82,383 for the nine months ended
February 28, 2025 and February 29, 2024, respectively, and reflects a provision for uncertain tax positions related to research and development
expenses and is subject to changes in periodic revenue and expense levels. Lower income tax expense for the nine months ended February
28, 2025 reflects the impact of lower grant revenue in the period.

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Years Ended May 31, 2024 and 2023

|                                    |     | For the Years Ended 
             May 31, |           |   |     |      |            |   |     |        |          |   |
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