Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 243

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 243
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 76,511  
                                                                       423,858                        804,716  
  Intangible assets, net                                                                                       
  Prepaid patented licenses                                            -                                    -  
  Computer software                                                    -                              147,347  
  Intangible assets, net                             $                 -            $                 147,347  

As of December 31, 2022, the Group has capitalized
eight of the exclusive licenses, which includes seven patented technologies.
Pursuant to the license agreements, the Group paid upfront payments and became the exclusive licensee to prosecute certain patents developed
or licensed under the applicable agreements.

For the year ended December 31, 2023, the Group terminated two of the
licenses. For the year ended December 31, 2024, the Group terminated four of the licenses. The Group is in the process of terminating
another license. The Group considered that the carrying amount of these intangible assets are not recoverable and are fully impaired.
As a result, the Group recorded $519,496impairment loss on intangible assets in research and development expenses for the year ended
December 31, 2023. Besides, an impairment loss related to the computer software for Hong Kong healthcare services amounted to $128,128was recorded in research and development expenses, and $1,841was recorded in other operating expenses for the year ended December
31, 2024 and 2023, respectively.

For the year ended December 31, 2022, a loss on
disposal of $205,189related to a patented license was recognized in research and development expenses.

Prepaid patented licenses and computer software
are finite-lived intangible assets which are amortized over their estimated useful life. Amortization expenses for finite-lived intangible
assets amounted to $19,219, $84,020and $114,553for the years ended December 31, 2024, 2023 and 2022, respectively.

The Group does not expect any amortization expense
related to its finite-lived intangible assets for the next five years and thereafter to be as follows as of December 31, 2024.

F-19

APTORUM GROUP LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Stated in U. S. Dollars)

9. LONG-TERM DEPOSITS

Long-term deposits as of December 31, 2024 and 2023 consisted of:

                       December 31,      December 31,  
  Rental deposits