Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 414

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 414
---
 2024. The grant-date fair value and unrecognized compensation expense as of May 31, 2024 related to the restricted
stock units amounts to $652,080.

NOTE 12 – INCOME TAXES

For the years ended May 31, 2024 and 2023, the
provision for income taxes consisted of the following:

| Current:       |     | 2024 |         |     | 2023 |        |
|:---------------|:----|:-----|--------:|:----|:-----|-------:|
| Federal        |     | $    | 112,947 |     | $    | 46,572 |
| State          |     |      |   1,456 |     |      |      - |
| Total current  |     |      | 114,403 |     |      | 46,572 |
| Deferred:      |     |      |         |     |      |        |
| Federal        |     |      |       - |     |      |      - |
| State          |     |      |       - |     |      |      - |
| Total deferred |     |      |       - |     |      |      - |
| Total          |     | $    | 114,403 |     | $    | 46,572 |

For the years ended May 31, 2024 and 2023, a reconciliation
of the Company’s effective tax rate to the statutory U.S. Federal rate is as follows:

|                                        |     | 2024 |       |    |     | 2023 |       |    |
| Income taxes at Federal statutory rate |     |      |  21.0 | %  |     |      |  21.0 | %  |
| Discounts and interest on notes        |     |      |  (2.1 | )% |     |      |  (1.9 | )% |
| State taxes                            |     |      |  (4.2 | )% |     |      |  (2.4 | )% |
| Other                                  |     |      |  (1.2 | )% |     |      |  (0.3 | )% |
| Change in valuation allowance          |     |      | (36.3 | )% |     |      | (20.1 | )% |
| Income tax provision                   |     |      | (22