Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 162

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4A
Chunk 162
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 projects owned by the related party.

Other income, net

For the years ended December
31, 2023, and 2022, the other income, net was $6,383,276 and $5,984,011, respectively. The increase in other income, net was mainly
due to the increase in unrealized gain from fair value change of the long-term investments, net.

Net loss attributable to Aptorum Group Limited

For the years ended December
31, 2023, and 2022, net loss attributable to Aptorum Group Limited (excluding net loss attributable to non-controlling interests) was
$2,824,647 and $9,799,560, respectively.

B. Liquidity and capital resources

The Group reported a net loss of $4,157,737 and
net operating cash outflow of $1,189,734 for the year ended December 31, 2024. In addition, the Group had an accumulated deficit of $72,429,528
as of December 31, 2024. On January 2, 2025, the Group entered into a certain securities purchase agreement with certain non-affiliated
institutional investors pursuant to which the Group sold 1,535,000 Class A Ordinary Shares of the Group, par value $0.00001 per share
at a per share price of $2.00 in a registered direct offering, for gross proceeds of $3,070,000. The Group’s operating results for
future periods are subject to numerous uncertainties and it is uncertain if the Group will be able to reduce or eliminate its net losses
for the foreseeable future. If management is not able to generate significant revenues from its product candidates currently in development,
the Group may not be able to achieve profitability. Successful transition to attaining profitable operations is dependent upon achieving
a level of revenues adequate to support the Company’s cost structure. In connection with the Company’s assessment of going
concern considerations in accordance with Financial Accounting Standard Board’s Accounting Standards Update (“ ASU”)
2014-15, “ Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined
that these conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the
date that these consolidated financial statements are issued.

If the Group is unable to generate sufficient funds
to finance the working capital requirements of the Group within the normal operating cycle of a twelve-month period from the date