Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063906
Chunk: 471

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 471
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 BIOSCIENCES CORP.
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 6 — ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consist of the following:

|                       |     |   | February 28, 
         2025 |     |   | May 31, 
    2024 |
|:----------------------|:----|:--|-------------:|:----|:--|--------:|
| Outside services      |     | $ |      180,350 |     | $ | 123,065 |
| Employee compensation |     |   |       13,878 |     |   |  12,285 |
| Other                 |     |   |        4,400 |     |   |  13,298 |
| Total                 |     | $ |      198,628 |     | $ | 148,648 |

NOTE 7 — CONVERTIBLE NOTES PAYABLE In the nine months ended February 28, 2025, the Company amended its outstanding convertible note (“Note”) to one founder to reflect additional borrowings of $100,000 in August 2024 and $100,000 in November 2024. The Company estimates that the nominal interest rate on the Note is less than rates that may be obtained from third parties. The Company recorded discounts of $24,970 on the additional borrowings at a weighted average estimated effective rate of 9.6%, as additions to paid -incapital. Other terms and conditions of the Note were not affected. No payments of principal or interest on the notes are required prior to maturity. The notes call for interest at 4% per annum and are convertible at the option of the holder upon the Company’s next equity financing involving the Company’s sale of its equity securities to third party investors. Upon any conversion, all unpaid principal and accrued unpaid interest on the Notes will be exchanged for the Company’s securities at the lowest per unit price for securities sold to third parties in the next equity financing. In addition, the Notes are due upon demand at the option of the holder when there is a liquidation event, which shall include: (i)The closing of the sale, lease, transfer or other disposition of all or substantially all of the assets of Company or the grant of any exclusive license to any material portion of the Company’s intellectual property; (ii)The consummation of the merger or consolidation of the Company with or