Company: AEMD
Filing Date: 2025-08-29
Form Type: S-1/A
Source: 0001683168-25-006537
Chunk: 54

Company: AETHLON MEDICAL INC
Filing Date: 2025-08-29
Form: S-1/A
Chunk 54
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21, 2025and
excludes as of such date:

| · | 6,546 shares of common                                                                                                                
 stock issuable upon the exercise of outstanding stock options under our equity incentive plan at a weighted-average exercise price    
 of $130.52 per share;                                                                                                                 |
| · | 53,574 shares of common                                                                                                               
 stock issuable pursuant to outstanding restricted stock units;                                                                        |
| · | 319,518 shares of common                                                                                                              
 stock reserved for future issuance under our equity incentive plan; and                                                               |
| · | 2,129,187 shares of                                                                                                                   
 common stock reserved for issuance upon the exercise of outstanding warrants at a weighted-average exercise price of $3.44 per share. |

| 31 |

<div align='center'>DESCRIPTION OF CAPITAL STOCK</div>

The following description of our
capital stock is intended as a summary only and therefore is not a complete description of our capital stock. This description is based
upon, and is qualified in its entirety by reference to, our articles of incorporation, our bylaws and applicable provisions of Nevada
corporate law. You should read our articles of incorporation and bylaws, which have been publicly filed with the SEC, for the provisions
that are important to you.

Authorized Capital Stock

Our authorized capital
consists of 60,000,000 shares of common stock, par value $0.001 per share. As of August 21, 2025, there were 2,598,711 shares
of common stock issued and outstanding.

Common Stock

The holders of our common stock
are entitled to one vote per share on all matters to be voted on by the stockholders. Holders of common stock are entitled to receive
ratably such dividends as may be declared by the Board of Directors out of funds legally available therefor. If we liquidate, dissolve
or wind up, holders of common stock are entitled to share ratably in all assets remaining after payment of all debts and other liabilities.
Holders of common stock have no preemptive, conversion or subscription rights. There are no redemption or sinking fund provisions applicable
to the common stock.

Our bylaws provide that stockholders
representing a majority of the voting power of our capital stock, represented in person or by proxy (regardless of whether the proxy has
authority to vote on all matters), are necessary to constitute a quorum for the transaction of business at any meeting, but at any time
during which shares of our capital