Company: AEMD
Filing Date: 2025-06-26
Form Type: 10-K
Source: 0001683168-25-004780
Chunk: 331

Company: AETHLON MEDICAL INC
Filing Date: 2025-06-26
Form: 10-K
Item: Item 1A
Chunk 331
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     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 research and development costs 
     519,000  
     646,000 
  
    Net operating loss carryforwards(1) 
     30,022,000  
     26,927,000 
  
    Stock compensation 
     415,000  
     2,244,000 
  
    Total deferred tax assets 
     34,398,000  
     33,259,000 

    Total deferred tax liabilities 
     –  
     – 

    Net deferred tax assets 
     34,398,000  
     33,259,000 
  
    Valuation allowance for deferred tax assets 
     (34,398,000) 
     (33,259,000)

    Net deferred tax assets 
    $–  
    $– 

 ______________

    (