Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 238

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 238
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2024-03, Income Statement-Reporting Comprehensive
Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03"), was
issued in November 2024, which requires disclosure in the notes to the financial statements, of disaggregated information about certain
costs and expenses that are included in expense line items on the face of the income statement. The requirements of ASU 2024-03 are effective
for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027 with early
adoption permitted. The Company is currently evaluating the impact, if any, that the adoption of this standard will have on its Consolidated
Financial Statements and disclosures.

The Group does not believe other recently issued
but not yet effective accounting standards, if currently adopted, would have a material impact on the consolidated financial statements.

F-15

APTORUM GROUP LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Stated in U. S. Dollars)

4. REVENUE

During the second quarter of 2023, the Group made
a decision to streamline its operations by terminating clinic services and suspending non-lead R& D projects. No revenue was generated
for the year ended December 31, 2024.

For the years ended December 31, 2023 and 2022,
all revenue came from provision of healthcare services in Hong Kong.

5. INVESTMENT AND FAIR VALUE MEASUREMENT

Assets Measured at Fair Value on a Recurring Basis

The assets and liabilities carried at fair value
measured on a recurring basis as of December 31, 2024 and 2023 were $ niland $ nilrespectively.

For the year ended December 31, 2024, there was
no movement in Level 3 assets measured and recorded at fair value on a recurring basis. The following is a reconciliation of Level 3 assets
measured and recorded at fair value on a recurring basis during the years ended December 31, 2023.

                                    Common Stock                
  Balance at January 1, 2023        $                 77,200    
  Impairment                                          ( 77,200  
  Balance at December 31, 2023      $                 -         

For the year ended December 31, 2023, an impairment
loss relating to an equity method