Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 181

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 181
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   |   (1,067,690 | ) |     |   |     (261,038 | ) |
| Total expenses                                                           |     |   |  (11,155,629 | ) |     |   |  (18,805,002 | ) |
| Other income, net                                                        |     |   |              |   |     |   |              |   |
| Loss on investments in marketable securities, net                        |     |   |       (9,266 | ) |     |   |     (134,134 | ) |
| Unrealized gain from fair value change of the long-term investments, net |     |   |    6,431,088 |   |     |   |    6,108,872 |   |
| Impairment loss of long-term investment                                  |     |   |      (77,200 | ) |     |   |     (520,821 | ) |
| Interest (expense) income, net                                           |     |   |     (121,145 | ) |     |   |      146,588 |   |
| Government subsidies                                                     |     |   |      123,015 |   |     |   |      335,499 |   |
| Sundry income                                                            |     |   |       36,784 |   |     |   |       48,007 |   |
| Total other income, net                                                  |     |   |    6,383,276 |   |     |   |    5,984,011 |   |
| Net loss                                                                 |     |   |   (4,340,975 | ) |     |   |  (11,525,102 | ) |

Revenue

Healthcare services income
was $431,378 and $1,295,889 for the years ended December 31, 2023, and 2022, which related to the service income derived from clinic.
The decline in healthcare services income was attributed primarily to the decision to terminate clinic services in the second quarter
of 2023. This was done to reallocate resources towards the development of the Company’s leading projects.

Cost of healthcare services

Cost of healthcare services
was $420,812 and $1,215,824 for the years ended December 31, 2023, and 2022, which related to the cost incurred by clinic. The decline
in cost of healthcare services was aligned with the decline in revenue when compared to