Company: APM
Filing Date: 2025-10-06
Form Type: S-4
Source: 0001213900-25-096656
Chunk: 466

Company: Aptorum Group Ltd
Filing Date: 2025-10-06
Form: S-4
Chunk 466
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:--|-------------:|
| Rental deposits |     | $ |       71,823 |     | $ |       71,823 |
|                 |     | $ |       71,823 |     | $ |       71,823 |

10. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses as of December 31, 2024 and 2023 consisted of:

|                                           |     |   | December 31, 
         2024 |     |   | December 31, 
         2023 |
|:------------------------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Deferred bonus and salaries payable       |     | $ |            — |     | $ |      451,660 |
| Research and development expenses payable |     |   |      778,205 |     |   |    1,162,155 |
| Professional fees payable                 |     |   |      127,031 |     |   |      175,324 |
| Cost of healthcare services payable       |     |   |            — |     |   |       61,826 |
| Insurance expenses payable                |     |   |            — |     |   |       27,463 |
| Others                                    |     |   |       13,375 |     |   |       15,913 |
|                                           |     | $ |      918,611 |     | $ |    1,894,341 |

On March 31, 2023, the Group entered into exchange agreements and cancelled existing vested and unvested share options held by related parties option holders and cancelled its obligations for deferred cash bonus payables of $ million by granting share options with 6 months vesting period (see Note 17). The settlement of obligations of $ million deferred cash bonus payables was deemed as capital contribution from related parties and was credited to additional paid-in capital.

On March 31, 2023, the Group entered into exchange agreements and cancelled existing vested and unvested share options held by non-related parties option holders and cancelled its obligations for deferred cash bonus payables of $ million by issuance of fully vested Class A Ordinary Shares (see Note 16). The reversal of deferred cash bonus payables for $ million and $ million was credited to research and development expenses and general and administrative fees, respectively.

F-20

APTORUM GROUP LIMITED
NOTES TO CONS