Company: AEMD
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001683168-25-006049
Chunk: 35

Company: AETHLON MEDICAL INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 35
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 then outstanding shares of common stock. Accordingly, each 8 shares of outstanding common stock then held by our stockholders
were combined into one share of common stock. Any fractional shares resulting from the reverse split were rounded up to the next whole
share. Authorized common stock remained at 60,000,000 shares following the stock split. The accompanying unaudited condensed consolidated
financial statements and accompanying notes have been retroactively revised to reflect such reverse stock split as if it had occurred
on April 1, 2024. All shares and per share amounts have been revised accordingly.

     9 

Basis of Presentation and Use of Estimates

Our accompanying unaudited condensed consolidated
financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or GAAP, for interim financial
information and with the instructions to Form 10-Q and Article 8 of the Securities and Exchange Commission, or SEC, Regulation S-X. Accordingly,
they should be read in conjunction with the audited financial statements and notes thereto for the fiscal year ended March 31, 2025, included
in our Annual Report on Form 10-K filed with the SEC on June 26, 2025. The accompanying unaudited condensed consolidated financial statements
include the accounts of Aethlon Medical, Inc. and its wholly owned subsidiary, Aethlon Medical Australia Pty Ltd. All significant inter-company
transactions and balances have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements,
taken as a whole, contain all adjustments that are of a normal recurring nature necessary to present fairly our operating results, cash
flows, and financial position as of and for the period ended June 30, 2025. Estimates were made relating to useful lives of fixed assets,
impairment of assets, share-based compensation expense and accruals for clinical trial and research and development expenses. Actual results
could differ materially from those estimates. The accompanying condensed consolidated balance sheet at March 31, 2025 has been derived
from the audited consolidated balance sheet at March 31, 2025, contained in the above referenced 10-K. The results of operations for the
three months ended June 30, 2025 are not necessarily indicative of the results to be expected for the full year or any future interim
periods.

Reclassifications

Certain prior year balances within the unaudited condensed
consolidated financial statements have been reclassified to conform to the current year presentation, including the impact