Company: AEMD
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001683168-25-000960
Chunk: 22

Company: AETHLON MEDICAL INC
Filing Date: 2025-02-12
Form: 10-Q
Item: Item 1
Chunk 22
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, 2024  
    December 31, 2023 
  
    Vesting of restricted stock units 
    $50,000  
    $56,250  
    $168,750  
    $150,000 
  
    Vesting of stock options 
     39,970  
     516,705  
     174,041  
     930,250 
  
    Total Stock-Based Compensation 
    $89,970  
    $572,955  
    $342,791  
    $1,080,250 

We review share-based compensation on a quarterly
basis for changes to the estimate of expected award forfeitures based on actual forfeiture experience. The cumulative effect of adjusting
the forfeiture rate for all expense amortization is recognized in the period the forfeiture estimate is changed. The effect of forfeiture
adjustments for the nine months ended December 31, 2024 was insignificant.

On December 31, 2024, our outstanding stock options
had no intrinsic value since the closing price on that date of $0.86 per share was below the weighted average exercise price of our outstanding
stock options.

At December 31, 2024, there was approximately
$150,990 of unrecognized compensation cost related to share-based payments, which is expected to be recognized over a weighted average
period of 0.84 years.

     17 

8. WARRANTS

During the nine-months ended December 31, 2024,
we issued 16,524,000 warrants in connection with the May 17, 2024 public offering. We did not issue any warrants in the nine-months ended
December 2023.

A summary of warrant activity during the nine
months ended December 31, 2024 is presented below:

    Schedule of warrant activity 

    Amount  
    Range of Exercise Price  
    Weighted Average Exercise Price 
  
    Warrants outstanding at March 31, 2024 
     32,676  
    $15.00
– 27.50  
    $20.09 

    Granted 
     16,524,000  
    $0.58  
    $0.58 
  
    Exercised 
     (3,180,000) 
    $0.58  
    $0.58 
  
    Cancelled/Expired 
     (20,217) 
    $