Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 161

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4A
Chunk 161
---
 an intangible asset                          519,497                          205,189  
  Other R& D expenses                                                              632,367                          494,080  
  Total Research and Development Expenses                      $                 5,198,329      $                 9,219,595  

General and administrative fees

The following table sets forth
a summary of our general and administrative expenses for the years ended December 31, 2023, and 2022. The decrease in general and administrative
fees was primary due to the reversal of deferred cash bonus payables to employees and reduction of employees during current period. The
reversal was due to the Group’s agreements with employees to discharge the Group’s obligation to settle their outstanding
deferred cash bonus payables from previous years in exchange of fully vested ordinary shares.

                                             Year Ended                       Year Ended                   
  General and Administrative Fees:                                                                         
  Payroll expenses                           $                   893,437      $                 3,793,367  
  Rent and rates                                                 213,701                          265,558  
  Travelling expenses                                             59,874                          158,357  
  Amortization and depreciation                                   53,799                          143,498  
  Insurance                                                      474,746                          546,675  
  Advertising and marketing expenses                              48,982                           98,082  
  Other expenses                                                 186,098                          214,868  
  Total General and Administrative Fees      $                 1,930,637      $                 5,220,405  

Legal and professional fees

For the years ended December
31, 2023, and 2022, the legal and professional fees were $2,538,161 and $2,888,140, respectively. The decrease in legal and professional
fees was mainly due to less consulting services engaged during 2023 as a consequence of exclusive emphasis on its lead projects and suspension
of non-lead projects.

Other operating expenses

For the years ended December
31, 2023, and 2022, the other operating expenses was $1,067,690 and $261,038, respectively. The increase in other operating expenses was
primarily due to impairment losses of long-lived assets during current period, such as right-of-use assets, which resulted from the decision
to terminate clinic services in the second quarter of 2023, and allowance of credit losses for amount due from related parties, which
results from the decision to suspend non-lead