Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063906
Chunk: 297

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 297
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 Stock -basedcompensation expense decreased approximately $519,093, primarily as a result of estimated vesting of performance -basedawards to the CFO in the prior -yearperiod and to forfeitures by the CFO recognized during the current -yearperiod. This decrease was partially offset by increased auditing and accounting services and other consulting fees. Interest Expense Interest expense primarily relates to interest accrued and discounts amortized on working capital loans obtained from DiamiR’s founders and convertible notes outstanding to ADDF. Interest expense was $48,599 and $114,175 for the years ended May 31, 2024 and 2023, respectively. The decrease primarily reflects the conversion into common stock of our note payable to ADDF in May 2023. Income Tax Expense Income Tax expense was $114,403 and $46,572 for the years ended May 31, 2024 and 2023, respectively, and reflects a provision for uncertain tax positions related to research and development expenses and is subject to changes in periodic revenue and expense levels. Lower income tax expense for the year ended May 31, 2023 reflects the impact of available net operating losses in the prior year period. Liquidity and Capital Resources Sources of Liquidity To date, DiamiR has generated minimal revenue. DiamiR has funded its operations to date through grant funding, an ADDF award, sales of its equity securities to DiamiR’s founders and borrowings from DiamiR’s founders. As of February 28, 2025 and May 31, 2024 DiamiR had $140,231 and $70,276 respectively, in cash and cash equivalents. 172 SBIR Grants Since DiamiR’s inception, it has raised over $9.7 million in grant funding from government agencies and disease foundations, including the following two grants. On October 1, 2020, DiamiR announced that it received two grants from the National Institutes of Health (NIH) in the total amount of approximately $3.86 million. The National Institute on Aging (NIA) awarded DiamiR approximately $3.36 million in a Commercialization Readiness Pilot (CRP) grant as part of its Small Business Innovation Research (SBIR) program. The award builds upon earlier studies conducted by DiamiR in collaboration with leading academic centers and continues to support development of CogniMIR ®, DiamiR’s lead diagnostic product candidate for early detection and monitoring of mild cognitive impairment and AD. The second award