Company: AEMD
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001683168-25-000960
Chunk: 15

Company: AETHLON MEDICAL INC
Filing Date: 2025-02-12
Form: 10-Q
Item: Item 1
Chunk 15
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. ASU 2023-07 is to be adopted retrospectively to all prior periods presented. We are currently assessing the impact this guidance
will have on our consolidated financial statements; however, we do not expect a material impact.

In December 2023, the FASB issued Accounting Standards
Update 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires enhanced annual disclosures for specific
categories in the rate reconciliation and income taxes paid disaggregated by federal, state and foreign taxes. ASU 2023-09 is effective
for public business entities for annual periods beginning after December 15, 2024. The Company is evaluating if the adoption of this new
standard will have a material effect on our disclosures.

In March 2024, the FASB issued ASU 2024-01 –
Compensation—Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards. This update introduces illustrative
examples to clarify how an entity should apply the scope guidance in paragraph 718-10-15-3 to determine whether profits interest and similar
awards fall under the requirements of Topic 718, Compensation—Stock Compensation. ASU 2024-01 becomes effective for fiscal years
starting after December 15, 2024. The Company does not anticipate any impact from ASU 2024-01, as it does not currently issue profits
interest awards.

In November 2024, the FASB issued ASU 2024-03,
titled Reporting Comprehensive Income–Expense Disaggregation Disclosures, Disaggregation of Income Statement Expense (ASU 2024-03).
The objective of ASU 2024-03 is to improve transparency in the reporting of a public business entity’s expenses and address investor
requests for more granular insights into the breakdown of expense line items typically reported in financial statements, such as cost
of sales, SG&A, and research and development. The update requires greater detail on specific expense categories,
including inventory purchases, employee compensation, depreciation, amortization, and depletion. ASU 2024-03 is effective for public business
entities for annual periods beginning after December 15, 2026, and interim periods within the annual reporting periods beginning after
December 15, 2027. The Company expects to adopt ASU 2024-03, a disclosure-only standard, April 1, 2027.

In June 2016