Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063906
Chunk: 464

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 464
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objectives of the Company include the development of Lab -Developedtests (LDTs) under CLIA guidelines based on the identified miRNA signatures. The tests will be used for screening, patient stratification, as well as disease and treatment monitoring. The Company has a patent portfolio that includes United States patents, issued between 2014 and 2021 and set to expire between 2030 and 2037, and certain foreign counterparts. NOTE 2 — BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and Article 10 of Regulation S -X. Accordingly, they do not include all of the information and footnotes required by GAAP in the United States for complete financial statements and should be read in conjunction with the annual financial statements. Going Concern The Company has a limited operating history and incurred net losses of $614,405 and $1,318,431 for the years ended May 31, 2024 and 2023, respectively, and $483,710 for the nine months ended February 28, 2025. The Company used net cash $308,914 in the year ended May 31, 2024 and $130,045 for the nine months ended February 28, 2025 for operating activities. Since the inception of the Company in December 2009, the operations of the Company have been funded primarily through capital contributions of the founders of the Company as well as grant funding, primarily received through the U.S. Department of Treasury and the National Institutes of Health (“NIH”). Management believes this capital is insufficient to fund the Company’s operations for the next twelve months. Management does not anticipate that the Company’s existing working capital alone will be sufficient to fund its operations through the successful development and commercialization of products. As a result, the Company will need to raise additional capital to fund its operations and continue to conduct activities to support its product development and commercialization activities. Management may raise additional funds by way of a public or private offering or may be awarded additional grants. Management cannot be certain that additional funding will be available on acceptable terms, or at all. To the extent that the Company raises additional funds by issuing equity securities, the Company’s shareholders may experience significant dilution. Any debt financing, if available, may involve restrictive covenants that impact the Company’s ability to conduct business. If the Company is not able to raise additional capital when required