Company: AEMD
Filing Date: 2025-06-26
Form Type: 10-K
Source: 0001683168-25-004780
Chunk: 317

Company: AETHLON MEDICAL INC
Filing Date: 2025-06-26
Form: 10-K
Item: Item 1A
Chunk 317
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 references to the FASB’s Concepts Statements
from the FASB Accounting Standards Codification in order to clarify that the Codification represents the authoritative source of generally
accepted accounting principles (GAAP) in the United States. The amendments do not alter existing accounting requirements. The guidance
is effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2024, and early adoption
is permitted. This ASU is not expected to have a material impact on the Company’s consolidated financial statements or disclosures.

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 June 2016, the FASB issued ASU No. 2016-13,
Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. The adoption of ASU No.
2016-13 for smaller reporting companies that did not previously early adopt was January 1, 2023. The Company maintained US Treasury bills
with maturities of less than three months and expects zero credit losses from these securities. As a result, the Company did not record
an allowance for expected credit losses.

2. PROPERTY AND EQUIPMENT, NET

Property and equipment, net, consist of the following:

    Schedule of property and equipment, net 

    March 31, 2025  
    March 31, 2024 
  
    Furniture and office equipment, at cost 
    $1,112,648  
    $1,112,648 
  
    Less: disposals 
     (350,670) 
     – 
  
    Leasehold improvements 
     893,131  
     893,131 
  
    Gross property and equipment 
     1,655,109  
     2,005,779 
  
    Less: accumulated depreciation 
     (978,889) 
     (990,550)
  
    Fixed assets, net 
    $676,220  
    $1