Company: AEMD
Filing Date: 2025-06-26
Form Type: 10-K
Source: 0001683168-25-004780
Chunk: 353

Company: AETHLON MEDICAL INC
Filing Date: 2025-06-26
Form: 10-K
Item: Item 1B
Chunk 353
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 to obtain, more costly and/or more dilutive. Any of these actions could materially
harm our business, results of operations and future prospects.

While we currently has been
carrying out certain expense reductions since November 2023; our planned additional expense reductions may not materialize and/or our
patient recruitment may occur more rapidly than expected along with the concomitant increases in expenses; therefore there is substantial
doubt that our cash on hand will carry the company for 12 months beyond the filing date of the financial statements included in this Annual
Report.

We do plan to access the equity
markets for additional capital, however, there can be no assurance that we will be able to access such additional capital.

Our ability to raise additional
funds may be adversely impacted by potential worsening global economic conditions and disruptions to and volatility in the credit and
financial markets in the United States, including due to bank failures, actual or perceived changes
in interest rates and economic inflation, and worldwide resulting from macroeconomic factors. Because of the numerous risks and
uncertainties associated with product development, we cannot predict the timing or amount of increased expenses and we may never be profitable
or generate positive cash flow from operating activities.

Cash Flows

Cash flows from operating,
investing and financing activities, as reflected in the accompanying Consolidated Statements of Cash Flows, are summarized as follows
(in thousands):

    For the year ended 

    March 31,  2025 
    March 31,  2024 
  
    Cash provided by (used in):

    Operating activities
    $(7,646)
    $(10,130)
  
    Investing activities
     – 
     (251)
  
    Financing activities
     7,727 
     1,288 
  
    Effect of exchange rate on cash
     (12)
     2 
  
    Net increase (decrease) in cash
    $69 
    $(9,091)

 56 

Net Cash Used in Operating Activities

We used cash in our operating
activities due to our losses from operations. Net cash used in operating activities was approximately $7,646,000 in fiscal 2025, compared
to net cash used in operating activities of approximately $10,130,000 in fiscal 2024, a decrease of approximately $2,484,000. The decrease
in cash flows was primarily driven by a decrease of $2,869,000 in net loss after non-cash