Company: AEMD
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001683168-25-008271
Chunk: 28

Company: AETHLON MEDICAL INC
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 28
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 highly uncertain.

We incorporated in Nevada on March 10, 1999. Our
executive offices are located at 11555 Sorrento Valley Road, Suite 203, San Diego, California 92121. Our telephone number is (619) 941-0360.
Our website address is www.aethlonmedical.com.

Our common stock is listed on the Nasdaq Capital Market under the symbol
“AEMD.”

WHERE YOU CAN FIND MORE INFORMATION

We are subject to the informational requirements
of the Exchange Act, and must file reports, proxy statements and other information with the SEC. The SEC maintains a website (http://www.sec.gov)
that contains reports, proxy and information statements and other information regarding registrants, like us, which file electronically
with the SEC.

RESULTS OF OPERATIONS

THREE MONTHS ENDED SEPTEMBER 30, 2025 COMPARED TO THE THREE MONTHS
ENDED SEPTEMBER 30, 2024

 19 

Operating Expenses

Consolidated operating expenses for the three
months ended September 30, 2025 were approximately $1,510,000 compared to $2,902,000 for the three months ended September 30, 2024. This
decrease of $1,392,000, or 48%, in the 2025 period was due to a decrease of approximately $778,000 in payroll and related, $437,000 in
general and administrative expenses and $177,000 in professional fees.

Payroll and related expenses decreased by approximately
$778,000, largely due to the absence of severance charges of about $507,000 recorded in the prior year related to an executive separation
and a reduction in force. The remainder of the decrease reflected approximately $230,000 of lower compensation costs associated with reduced
headcount and bonus accruals, as well as a $41,000 decline in stock-based compensation.

The
decrease in General and Administrative expenses of approximately $437,000 for the three months ended September 30, 2025, was primarily
driven by fluctuations across several categories. Supplies decreased by approximately $68,000, reflecting prior-year raw material purchases
with no comparable purchases in the current period. Clinical trial expenses decreased by approximately $97,000 compared to the prior year
period, primarily reflecting the recognition of a $218,000 R&D tax incentive for Australian R&D related to the trial, the timing
of trial-related activities, which were