Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063906
Chunk: 298

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 298
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 of $498,572 was granted to DiamiR by the National Institute for Neurological Disorders and Stroke (NINDS) for a project entitled “Circulating Organ -enrichedmicroRNAs as biomarkers of Rett Syndrome.” As of February 28, 2025, DiamiR had received and applied all of its existing grant funding. DiamiR expects net cash used in operating activities may increase significantly in future periods as a result of unfunded research and development expenses. ADDF Award In November 2019, DiamiR was awarded funding of up to $492,000 from Alzheimer’s Drug Discovery Foundation (“ADDF”) in the form of an investment by ADDF in a convertible promissory note (the “ADDF Note”) issued by DiamiR. Under the terms of this award, DiamiR was required to use the funding solely for specified research activities. DiamiR retained ownership of related research results and intellectual property. DiamiR borrowed $246,000 under the ADDF Note upon closing in November 2019 and $246,000 in June 2020, following the issuance of required progress reports, with principal and interest due and payable on November 11, 2022. The ADDF Note provided for interest at 8% per annum, compounded monthly and was convertible, at the option of the holder upon maturity, upon a qualified equity or debt financing of at least $2,000,000, as defined, or at maturity provided DiamiR’s business plan meets certain conditions. Concurrent with the ADDF Note, DiamiR issued warrants to the grantor for 29,336shares of DiamiR’s common stock at an exercise price of $5.87 per share. The warrants had a five -yearlife and an estimated fair value at issuance of $125,289, which was recorded as additional paid -incapital and represented a discount on the Note. The discount was amortized on the interest method over the three -yearterm of the ADDF Note at an effective rate of 19%. As of February 28, 2025, the ADDF warrants had expired. The ADDF Note was subsequently converted in accordance with its terms, in May 2023 into 101,806shares of common stock. Founders Equity DiamiR was capitalized by its two founders with a cash contribution by one of its founders of $250,000 for 2,200,000shares of common stock and a non -cashcontribution