Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 399

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 399
---
 Share Exchange was
recognized as a combination of entities under common control as both DiamiR, LLC and the Company have been controlled before and after
the transaction by the same shareholders.

The Company’s patent portfolio includes
United States patents, issued between 2014 and 2021 and set to expire between 2030 and 2037, and certain foreign counterparts, in seven
patent families.

NOTE 2 – BASIS OF PRESENTATION

The accompanying consolidated financial statements
have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and
include all adjustments necessary for the fair presentation of the Company’s financial position for the periods presented.

The Company currently operates in one business
segment focusing on the development and commercialization of methods for the early detection and monitoring of neurodegenerative diseases.
The Company is not organized by market and is managed and operated as one business. A single management team reports to the chief operating
decision maker, the Chief Executive Officer, who comprehensively manages the entire business. The Company does not currently operate any
separate lines of business or separate business entities.

Going Concern

The Company has a limited operating history and
has incurred a net loss of $614,405 and $1,318,431 for the years ended May 31, 2024 and 2023, respectively, and had net cash used in operating
activities of $308,914 for the year ended May 31, 2024.

Since the inception of the Company in September
2009, the operations of the Company have been funded primarily through capital contributions of the founders of the Company as well as
grant funding, primarily received through the U.S. Department of Treasury and the National Institutes of Health (“NIH”). Management
believes this capital is insufficient to fund the Company’s operations for the next twelve months. Management does not anticipate
that the Company’s existing working capital alone will be sufficient to fund its operations through the successful development and
commercialization of products. As a result, the Company will need to raise additional capital to fund its operations and continue to conduct
activities to support its product development and commercialization activities. Management may raise additional funds by way of a public
or private offering or may be awarded additional grants.

<div align='center'>F-7</div>

Management cannot be certain that additional funding
will be available on acceptable terms, or at all. To the extent that the Company raises additional funds by issuing equity securities,
the Company’s shareholders