Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063906
Chunk: 468

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 468
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 plans; (ii) competition; (iii) significant adverse changes in the business climate or legal or regulatory factors; (iv) or, expectations that the asset will more likely than not be sold or disposed of significantly before the end of its estimated useful life. If the estimated future undiscounted cash flows, excluding interest charges, from the use of an asset are less than its carrying value, a write -downwould be recorded to reduce the related asset to its estimated fair value.

F-57 DIAMIR BIOSCIENCES CORP.
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 3 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Patent Costs The Company has no experience or historical data to support a probable future economic benefit for the arising patent application, filing and prosecution costs. Therefore, patent costs were expensed as incurred. Should the Company experience a legal cost to defend the patent in the future, that cost would be capitalized only when it is part of the cost of retaining and obtaining the future economic benefit of the patent. Costs related to an unsuccessful outcome would be expensed. Revenue The Company’s primary source of revenue has been grant revenue from non -customers. The Company applies the provisions of ASC Topic 958, Not -For -Profit Entities, applicable to contributions received and recognizes grant revenue as qualified expenses are incurred. In the nine months ended February 28, 2025 and February 29, 2024, all grant revenue was received from the National Institutes of Health (“NIH”). Under these NIH grants, the Company received funds monthly on a cost -reimbursementbasis for agreed -upondirect and indirect costs for specific research and development activities, together with a specified fee. Allowable direct costs included personnel costs, fees for laboratory and other contract services and supplies, among others. The Company was responsible for performing research and development activities but is not required to achieve any specified identified results. Accordingly, these grants do not contain general payback provisions. However, the Company’s performance, costs and compliance are subject to periodic audit and the Company may be required to repay funds already received in the event of noncompliance. Grant -yearsending after May 31, 2024 remained subject to audit as of February 28, 2025. As of February 28, 2025, the Company had received all funding available under these NIH grants. In the nine months ended February 28, 2025, the Company’s other revenue