Company: AEMD
Filing Date: 2025-09-05
Form Type: 424B4
Source: 0001683168-25-006701
Chunk: 55

Company: AETHLON MEDICAL INC
Filing Date: 2025-09-05
Form: 424B4
Chunk 55
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 otherwise provided in the warrants or by virtue of such holder’s ownership of shares of our common stock, the holder of a warrant
does not have the rights or privileges of a holder of our common stock, including any voting rights, until the holder exercises the warrant.

| 35 |

<div align='center'>CERTAIN MATERIAL U.S. FEDERAL TAX CONSEQUENCES</div>

The following is a discussion
of certain material U.S. federal income tax consequences of the acquisition, ownership and disposition of our shares of common stock.
This discussion applies only to shares of common stock that are held as capital assets for U.S. federal income tax purposes and is applicable
only to holders who are receiving our shares of common stock being offered in this prospectus.

This discussion is a summary
only and does not describe all of the tax consequences that may be relevant to you in light of your particular circumstances, including
but not limited to the alternative minimum tax, the Medicare tax on certain investment income and the different consequences (such as
the effects of Section 451 of the Code) that may apply if you are subject to special rules that apply to certain types of investors,
including but not limited to:

| · | financial institutions                                                                        
 or financial services entities;                                                               |
| · | broker-dealers;                                                                               |
| · | governments or agencies                                                                       
 or instrumentalities thereof;                                                                 |
| · | regulated investment companies;                                                               |
| · | real estate investment                                                                        
 trusts;                                                                                       |
| · | expatriates or former long-term                                                               
 residents of the U.S.;                                                                        |
| · | persons that actually or                                                                      
 constructively own five percent or more of our voting shares;                                 |
| · | insurance companies;                                                                          |
| · | dealers or traders subject                                                                    
 to a mark-to-market method of accounting with respect to the common stock;                    |
| · | persons holding the common                                                                    
 stock as part of a “straddle,” hedge, integrated transaction or similar transaction;          |
| · | U.S. holders (as defined                                                                      
 below) whose functional currency is not the U.S. dollar;                                      |
| · | partnerships or other pass-through                                                            
 entities for U.S. federal income tax purposes and any beneficial owners of such entities; and |
| · | tax-exempt entities.                                                                          |

This discussion is based on the
Code, and administrative pronouncements, judicial decisions and final, temporary and proposed Treasury regulations as of the date hereof,
which are subject to change, possibly on