Company: AEMD
Filing Date: 2025-06-26
Form Type: 10-K
Source: 0001683168-25-004780
Chunk: 826

Company: AETHLON MEDICAL INC
Filing Date: 2025-06-26
Form: 10-K
Item: Item 4
Chunk 826
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 2025  
    March 31,  2024 
  
    Accrued Board fees 
    $68,250  
    $68,250 
  
    Accrued vacation to all employees 
     165,029  
     167,973 
  
    Accrued separation expenses 
     346,286  
     310,211 
  
    Total due to related parties 
    $579,565  
    $546,434 

6. OTHER CURRENT LIABILITIES

Other current liabilities were comprised of the following items:

    Schedule of other current liabilities 

    March 31, 2025  
    March 31, 2024 
  
    D&O insurance premium financing (See Note 8) 
    $178,206  
     – 
  
    Accrued professional fees 
     247,631  
    $215,038 
  
    Accrued resale registration 
     46,327  
     – 
  
    Total other current liabilities 
    $472,164  
    $215,038 

During 2017 through 2020, the Company incorrectly
recorded accrued commission liability of approximately $404,000. The Company reversed accrued commission liability of approximately $404,000
during the year ended March 31, 2024.

     F-22 

7. INCOME TAXES

For the years ended March 31, 2025 and 2024, we
had no income tax expense due to our net operating losses and 100% deferred tax asset valuation allowance.

At March 31, 2025 and 2024, we had net deferred
tax assets as detailed below. These deferred tax assets are primarily composed of capitalized research and development costs and tax net
operating loss carryforwards. Due to uncertainties surrounding our ability to generate future taxable income to realize these assets,
a 100% valuation allowance has been established to offset the net deferred tax assets.

Significant components of our net deferred tax
assets at March 31, 2025 and 2024 are shown below:

    Schedule of deferred tax assets 

    YEAR ENDED MARCH 31, 

    2025  
    2024 
  
    Deferred tax assets: 

    Research and development credit carryforwards 
    $3,442,000  
    $3,442,000 
  
    Capitalized