Company: APM
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001213900-25-111548
Chunk: 410

Company: Aptorum Group Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 410
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 least fifty percent (50%) of the voting power of the capital stock of the Company or the surviving or acquiring entity);               |

| (iii) | The                                                                                                                                   
 closing of the transfer (whether by merger, consolidation or otherwise), in one transaction or a series of related transactions, to a 
 person or group of affiliated persons (other than an underwriter of the Company’s securities), of the Company’s securities            
 if, after such closing, such person or group of affiliated persons would hold, directly or indirectly, fifty percent (50%) or more of 
 the outstanding voting stock of the Company (or the surviving or acquiring entity);                                                   |

| (iv) | An                                                                              
 initial public offering of securities by Company or one of its subsidiaries; or |

| (v) | A                                                      
 liquidation, dissolution or winding up of the Company. |

The Company estimates that the nominal interest rate on the Notes is less than rates that may be obtained from third parties. The Company has recorded discounts on the Notes, calculated at an estimated effective rate of 10%, as an addition to paid-in capital. Unamortized discounts presented as a deduction from the face amount of the Notes amounted to $ 96,332and $ 105,178as of May 31, 2025 and 2024, respectively.

See Note 16 “Subsequent Events” regarding the Company’s definitive merger agreement.

Interest expense

Interest expense consists of the following in the years ended May 31:

|                          |     |   |   2025 |     |   |   2024 |
|:-------------------------|:----|:--|-------:|:----|:--|-------:|
| Interest on notes        |     | $ | 38,508 |     | $ | 23,232 |
| Amortization of discount |     |   | 43,538 |     |   | 25,367 |
| Total                    |     | $ | 82,046 |     | $ | 48,599 |

F-16 DIAMIR BIOSCIENCES CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 9 — LEASES

As of May 31, 2023, the Company had a lease for laboratory space with a term of one yearand a one-year Company renewal option. The Company renewed the lease on a one-yearbasis in each of the years ended May 31, 2024 and 2025. The