Company: AEMD
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001683168-25-000960
Chunk: 49

Company: AETHLON MEDICAL INC
Filing Date: 2025-02-12
Form: 10-Q
Item: Item 8
Chunk 49
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 same, and additional potential common shares have been excluded,
as their effect would be antidilutive.

As of December 31, 2024 and 2023, an aggregate
of 13,459,253 and 175,574 potential common shares, respectively, consisting of shares underlying outstanding stock options, warrants,
and restricted stock units were excluded, as their inclusion would be antidilutive.

3. RESEARCH AND DEVELOPMENT EXPENSES

Our research and development costs are expensed
as incurred. We incurred research and development expenses during the three- and nine-month periods ended December 31, 2024 and 2023,
which are included in various operating expense line items in the accompanying condensed consolidated statements of operations. Our research
and development expenses in those periods were as follows:

    Schedule of research and development
expenses 

    December 31,  
    December 31, 

    2024  
    2023 
  
    Three months ended 
    $240,199  
    $593,401 
  
    Nine months ended 
     883,616  
     1,875,114 

     11 

4. RECENT ACCOUNTING PRONOUNCEMENTS

In November 2023, the Financial Accounting Standards
Board (“FASB”) issued Accounting Standards Update (ASU) 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable
Segment Disclosures” (“ASU 2023-07”). ASU 2023-07 intends to improve reportable segment disclosure requirements, enhance
interim disclosure requirements and provide new segment disclosure requirements for entities with a single reportable segment. ASU 2023-07
is effective for fiscal years beginning after December 15, 2023, and for interim periods with fiscal years beginning after December 15,
2024. ASU 2023-07 is to be adopted retrospectively to all prior periods presented. We are currently assessing the impact this guidance
will have on our consolidated financial statements; however, we do not expect a material impact.

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