Company: APM
Filing Date: 2025-10-06
Form Type: S-4
Source: 0001213900-25-096656
Chunk: 445

Company: Aptorum Group Ltd
Filing Date: 2025-10-06
Form: S-4
Chunk 445
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        |  11,777,061 |   |

____________ (1)All per share amounts and shares outstanding for all periods have been retroactively restated to reflect APTORUM GROUP LIMITED’s 1 for 10 reverse stock split, which was effective on January 23, 2023. See accompanying notes to the consolidated financial statements.

F-5

APTORUM GROUP LIMITED
CONSOLIDATED STATEMENTS OF CASH FLOWS
For Years Ended December 31, 2024, 2023 and 2022
(Stated in U.S. Dollars)

|                                                                            |     | Year Ended   
 December 31, 
 2024         |            |   |     | Year Ended   
 December 31, 
 2023         |            |   |     | Year Ended   
 December 31, 
 2022         |             |   |
|:---------------------------------------------------------------------------|:----|:-------------|-----------:|:--|:----|:-------------|-----------:|:--|:----|:-------------|------------:|:--|
| Cash flows from operating activities                                       |     |              |            |   |     |              |            |   |     |              |             |   |
| Net loss                                                                   |     | $            | (4,157,737 | ) |     | $            | (4,340,975 | ) |     | $            | (11,525,102 | ) |
| Adjustments to reconcile net loss to net cash used in operating activities |     |              |            |   |     |              |            |   |     |              |             |   |
| Amortization and depreciation                                              |     |              |    255,046 |   |     |              |  1,125,254 |   |     |              |   1,207,510 |   |
| Share-based compensation                                                   |     |              |          — |   |     |              |  1,265,189 |   |     |              |   1,646,999 |   |
| Loss on investments in marketable securities, net                          |     |              |          — |   |     |              |      9,266 |   |     |              |     134,134 |   |
| Unrealized gain from fair value change of the long-term investments, net   |     |              |          — |   |     |              | (6,431,088