Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 177

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 177
---
 |              |      (9,266 | ) |
| Unrealized gain from fair value change of the long-term investments, net |     |              |          - |   |     |              |   6,431,088 |   |
| Impairment loss of long-term investment                                  |     |              | (1,000,000 | ) |     |              |     (77,200 | ) |
| Interest expense, net                                                    |     |              |   (146,924 | ) |     |              |    (121,145 | ) |
| Gain on disposal of subsidiaries                                         |     |              |        703 |   |     |              |           - |   |
| Government subsidies                                                     |     |              |    928,461 |   |     |              |     123,015 |   |
| Sundry income                                                            |     |              |        564 |   |     |              |      36,784 |   |
| Total other (expense) income, net                                        |     |              |   (217,196 | ) |     |              |   6,383,276 |   |
| Net loss                                                                 |     |              | (4,157,737 | ) |     |              |  (4,340,975 | ) |

Revenue

Healthcare services income
was $nil and $431,378 for the years ended December 31, 2024, and 2023, which related to the service income derived from clinic. The decline
in healthcare services income was attributed to the strategic decision to suspend clinic services in the second quarter of 2023. This
was done to reallocate resources towards the development of the Company’s leading projects.

Cost of healthcare services

Cost of healthcare services
was $nil and $420,812 for the years ended December 31, 2024, and 2023, which related to the cost incurred by clinic. The decline in cost
of healthcare services was attributed to the strategic decision to suspend clinic services in the second quarter of 2023.

Research and development expenses

The following table sets forth
a summary of our research and development expenses for the years ended December 31, 2024, and 2023. In the fourth quarter of fiscal 2024
we determined that searching for other business combination opportunities could maximize shareholder value, and R&D focused on non-lead
products remain suspended.

|                                               |     |   |   Year Ended 
 December