Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 258

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 258
---
ANCIAL STATEMENTS

(Stated in U. S. Dollars)

On January 23, 2023, the Company effectuate a10for1share consolidation of its authorized share capital, such that every10Class A Ordinary Shares, par value of US$1.00per share,
in the authorized share capital of the Company (including issued and unissued share capital) were consolidated into1Class A Ordinary
Share, par value of US$10.00per share, and that every10Class B Ordinary Shares, par value of US$1.00per share in the authorized share
capital of the Company (including issued and unissued share capital) were consolidated into1Class B Ordinary Share, par value of US$10.00per share. As a consequence of the reverse stock split, fractional shares were rounded up to the next whole share, resulting in the creation
of an additional8,018Class A Ordinary Shares.

On February 21, 2023, the Company was merged with
Aptorum Group Cayman Limited, a newly established wholly owned subsidiary of the Company, whereby the Company is the surviving company
on the terms of the plan of merger. According to the plan of merger, the par value of its Class A and Class B Ordinary Shares are changed
from USD10toUSD0.00001.

On March 31, 2023, the Group issued70,430Class
A Ordinary Shares to a majority of the share option holders. This issuance served as an exchange for their share options and facilitated
the reversal of deferred cash bonus payables owed to these holders (See Note 10).

On March 31, 2023, the Group also issued65,770fully vested Class A Ordinary Shares to certain employees and external consultants. The grant date fair value of each of the shares was
$2.68based on grant date quoted market price.

For the years ended December 31, 2024, 2023 and
2022, the Group issued427,060, 791and6,712Class A Ordinary Shares to share option holders as a result of exercise of options, respectively.

For the year ended December 31, 2024, the Group
issued446,842Class A Ordinary Shares to Class B Ordinary Shares holders upon conversion.

For the year ended December 31, 2023, the Group
issued1,250,000Class A Ordinary Shares to convertible note holders upon conversion (See Note 15).

Holders of Class A Ordinary