Aethlon Medical Files Q1 FY2025 10-Q

TL;DR

AETH filed its Q1 FY25 10-Q. Check financials.

AI Summary

Aethlon Medical, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial results for the first quarter of fiscal year 2025. Specific financial figures and operational details for this period are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Aethlon Medical, Inc., crucial for assessing the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a medical device company, Aethlon Medical faces inherent risks related to product development, regulatory approvals, and market adoption, which are typical for the sector.

Key Numbers

• Q1 FY2025 — Reporting Period (The first quarter of the fiscal year 2025, ending June 30, 2024.)
• 0331 — Fiscal Year End (The company's fiscal year ends on March 31st.)

Key Players & Entities

• Aethlon Medical, Inc. (company) — Filer of the 10-Q
• 0001683168-24-005708 (other) — Accession Number for the filing
• 20240630 (date) — Period of report for the 10-Q
• 20240814 (date) — Filing date of the 10-Q
• 11555 SORRENTO VALLEY ROAD, SUITE 203 (address) — Business and mailing address
• SAN DIEGO, CA 92121 (address) — City, State, and Zip of business address

FAQ

Key Financial Figures

• $0.001 — t: TITLE OF EACH CLASS COMMON STOCK, $0.001 PAR VALUE TRADING SYMBOL AEMD NAM

Filing Documents

• aethlon_i10q-063024.htm (10-Q) — 573KB
• aethlon_ex3101.htm (EX-31.1) — 9KB
• aethlon_ex3201.htm (EX-32.1) — 5KB
• 0001683168-24-005708.txt ( ) — 3620KB
• aemd-20240630.xsd (EX-101.SCH) — 34KB
• aemd-20240630_cal.xml (EX-101.CAL) — 37KB
• aemd-20240630_def.xml (EX-101.DEF) — 137KB
• aemd-20240630_lab.xml (EX-101.LAB) — 291KB
• aemd-20240630_pre.xml (EX-101.PRE) — 249KB
• aethlon_i10q-063024_htm.xml (XML) — 387KB

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 4 CONDENSED CONSOLIDATED BALANCE SHEETS AT JUNE 30, 2024 (UNAUDITED) AND MARCH 31, 2024 4 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 30, 2024 AND 2023 (UNAUDITED) 5 CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY FOR THE THREE MONTHS ENDED JUNE 30, 2024 AND 2023 (UNAUDITED) 6 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED JUNE 30, 2024 AND 2023 (UNAUDITED) 7 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 8 ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 19 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 26 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 26 PART II. OTHER INFORMATION 27 ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 27 ITEM 1A.

RISK FACTORS

RISK FACTORS 27 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 28 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 28 ITEM 4. MINE SAFETY DISCLOSURES 28 ITEM 5. OTHER INFORMATION 28 ITEM 6. EXHIBITS 29

SIGNATURES

SIGNATURES 30 2 CAUTIONARY NOTICE REGARDING FORWARD LOOKING STATEMENTS This Quarterly Report on Form 10-Q, or Quarterly Report, contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, which are subject to the safe harbor created by those sections. We may, in some cases, use words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" or the negative of these terms, and similar expressions that convey uncertainty of future events or outcomes to identify these forward-looking and are based upon our current expectations, beliefs, estimates and projections, and various assumptions, many of which, by their nature, are inherently uncertain and beyond our control. Such statements, include, but are not limited to, statements contained in this Quarterly Report relating to our business, business strategy, products and services we may offer in the future, the timing and results of future clinical trials, and capital outlook, successful completion of our clinical trials, our ability to raise additional capital, our ability to maintain our Nasdaq listing, U.S. Food and Drug Administration, or FDA, approval of our products candidates, our ability to comply with changing government regulations, patent protection of our proprietary technology, product liability exposure, uncertainty of market acceptance, competition, technological change, and other risk factors detailed herein and in other of our filings with the Securities and Exchange Commission, or the SEC. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AETHLON MEDICAL, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2024 March 31, 2024 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 9,072,379 $ 5,441,978 Deferred Offering Cost – 277,827 Prepaid expenses and other current assets 478,058 505,983 Total current assets 9,550,437 6,225,788 Property and equipment, net 929,306 1,015,229 Operating lease right-of-use asset 813,900 883,054 Patents, net 963 1,100 Restricted cash 87,506 87,506 Deposits 33,305 33,305 Total assets $ 11,415,417 $ 8,245,982 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 1,068,134 $ 777,862 Due to related parties 732,518 546,434 Operating lease liability, current portion 296,093 290,565 Other current liabilities 32,203 215,038 Total current liabilities 2,128,948 1,829,899 Operating lease liability, less current portion 573,852 649,751 Total liabilities 2,702,801 2,479,650 Stockholders' Equity Common stock, par value $ 0.001 per share; 60,000,000 shares authorized as of June 30, 2024 and March 31, 2024; 13,937,327 and 2,629,725 shares issued and outstanding as of June 30, 2024 and March 31, 2024, respectively 13,937 2,629 Additional paid-in capital 165,844,620 160,337,371 Accumulated other comprehensive loss ( 7,773 ) ( 6,940 ) Accumulated deficit ( 157,138,168 ) ( 154,566,728 ) Total stockholders' equity 8,712,616 5,766,332 Total liabilities and stockholders' equity $ 11,415,417 $ 8,245,982 The accompanying notes are an integral part of these condensed consolidated financial statements . 4 AETHLON MEDICAL, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS For the Three Month Periods Ended June 30, 2024 and 2023 (Unaudited) Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 OPERATING EXPENSES Professional fees $ 614,082 $ 976

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View this 10-Q filing on SEC EDGAR