Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 185

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 185
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 determined that these conditions raise substantial doubt about the Company’s ability to continue as a going concern
within one year after the date that these consolidated financial statements are issued.

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If the Group is unable to
generate sufficient funds to finance the working capital requirements of the Group within the normal operating cycle of a twelve-month
period from the date of these consolidated financial statements are issued, the Group may have to consider supplementing its available
sources of funds through the following sources:

| ● | other available sources of financing from banks and other financial institutions or private lender; and |

| ● | equity financing. |

The Company can make no assurances
that required financings will be available for the amounts needed, or on terms commercially acceptable to the Company, if at all. If one
or all of these events does not occur or subsequent capital raises are insufficient to bridge financial and liquidity shortfall, there
would likely be a material adverse effect on the Company and would materially adversely affect its ability to continue as a going concern.

The accompanying consolidated
financial statements do not include any adjustments that might result from the outcome of this uncertainty. Accordingly, the consolidated
financial statements have been prepared on a basis that assumes the Group will continue as a going concern and which contemplates the
realization of assets and satisfaction of liabilities and commitments in the ordinary course of business.

Condensed Summary of Cash Flows for the Years Ended December 31, 2024, and 2023

|                                           |     |   |   Year Ended 
 December 31, 
         2024 |   |     |   |   Year Ended 
 December 31, 
         2023 |   |
|:------------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Net cash used in operating activities     |     | $ |   (1,189,734 | ) |     | $ |   (7,724,364 | ) |
| Net cash provided by investing activities |     |   |       58,621 |   |     |   |      624,767 |   |
| Net cash provided by financing activities |     |   |            - |   |     |   |    4,092,068 |   |
| Net decrease in cash and cash equivalents |     |   |   (1,131,113 | ) |     |   |   (3,007,529 | ) |

Operating