Company: APM
Filing Date: 2025-10-06
Form Type: S-4
Source: 0001213900-25-096656
Chunk: 112

Company: Aptorum Group Ltd
Filing Date: 2025-10-06
Form: S-4
Chunk 112
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 our independent registered public accounting firm. However, while we remain a non -acceleratedfiler, we will not be required to include an attestation report on internal control over financial reporting issued by our independent registered public accounting firm. The presence of material weaknesses in internal control over financial reporting could result in financial statement errors which, in turn, could lead to errors in our financial reports and/or delays in our financial reporting, which could require us to restate our operating results. In connection with the audit of our financial statements for the year ended December 31, 2024, we and our independent registered public accounting firm identified one material weakness in our internal control over financial reporting, as defined in the standards established by the Public Company Accounting Oversight Board of the United States. The material weakness identified was the lack of dedicated resources to take responsibility for the finance and accounting functions and the preparation of financial statements in compliance with generally accepted accounting principles in the United States, or U.S. GAAP. We have taken actions to remediate the abovementioned material weakness: •provide trainings to staff regarding to the preparation of financial statements in compliance with generally accepted accounting principles in the United States; •change to a new and well -establishedaccounting system to enhance effectiveness and financial and system control; •establish clear roles and responsibilities for accounting and financial reporting staff to address finance and accounting issues; and •continue to monitor the improvement on internal control over financial reporting. 46 However, since we are still in the process of replenishing and building up a qualified finance and accounting team with sufficient dedicated resources, our management assessed that the deficiency related to the lack of dedicated resources to take responsibility for the finance and accounting functions and the preparation of financial statements in compliance with generally accepted accounting principles in the United States, or U.S. GAAP, still existed as of December 31, 2021. We cannot assure you that we will not identify additional material weaknesses or significant deficiencies in the future. Our management concluded that our internal controls over financial reporting were not effective as of December 31, 2021. Investors may lose confidence in our operating results, the price of the Aptorum Class A ordinary shares could decline and we may be subject to litigation or regulatory enforcement actions. In addition, if we are unable to meet the requirements of Section 404 of the Sarbanes -OxleyAct, the Aptorum Class A ordinary shares may not be able to remain listed on the Nasdaq Capital Market. We may market our products, if approved, globally;