Aptorum Group(APM)2023-12-21 16:00Financial Performance - Revenue from healthcare services for the six months ended June 30, 2023, was 527,462 in the same period of 2022[7]. - Net loss attributable to Aptorum Group Limited increased to 1,885,252 for the same period in 2022, reflecting a rise of approximately 191%[7]. - The company reported a net loss of 2,729,788 for the same period in 2022, indicating a significant increase in losses[22]. - The company reported a net loss per share of 0.53 for the same period in 2022[7]. - The basic and diluted loss per share for the six months ended June 30, 2023, was (0.53) for the same period in 2022[134]. Assets and Liabilities - Total current assets decreased from 1,897,991 as of June 30, 2023, representing a decline of approximately 73%[3]. - Total assets decreased from 14,412,041 as of June 30, 2023, a decline of about 31%[4]. - Total liabilities decreased from 1,632,564 as of June 30, 2023, a reduction of approximately 87%[4]. - As of June 30, 2023, total liabilities amounted to 6,166,807 as of December 31, 2022[71]. - The company’s accumulated deficit increased from (70,824,179) as of June 30, 2023, indicating a worsening financial position[4]. Cash Flow and Liquidity - Cash and cash equivalents decreased significantly from 340,306 as of June 30, 2023, a drop of approximately 82%[3]. - The company has approximately 12 million of undrawn line of credit facility from a related party, indicating liquidity constraints[23]. - The company had a net cash used in operating activities of 6,913,290 for the same period in 2022, showing a slight improvement in cash flow management[17]. Operating Expenses - Total operating expenses decreased from 6,970,226 in the first half of 2023, a reduction of approximately 22%[7]. - The company plans to maintain operating costs through strict cost control and budgeting to ensure sustainability over the next 12 months[24]. Impairment and Expenses - The company recognized an impairment loss on long-lived assets and inventories amounting to 519,496 was recognized in research and development expenses for the six months ended June 30, 2023, related to various patented licenses[65]. - The Group recorded an impairment loss of 200,916 on right-of-use assets was recognized during the six months ended June 30, 2023[111]. Shareholder Actions - The Company issued 215,959 Class A Ordinary Shares at an average price of 1.6 million from the ATM Offering[115]. - A 10 for 1 share consolidation was effectuated on January 23, 2023, resulting in the creation of an additional 8,018 Class A Ordinary Shares[116]. - The Company merged with Aptorum Group Cayman Limited, changing the par value of its Class A and Class B Ordinary Shares from USD 10 to USD 0.00001[117]. - For the six months ended June 30, 2023, the Group issued 1,250,000 Class A Ordinary Shares to convertible note holders upon conversion[118]. - The Group granted 403,820 new share options with an exercise price of $2.68 per share on March 31, 2023[124]. Future Outlook - The company may seek additional capital in the future to fund its continued operations, which could lead to further dilution for shareholders[24]. - The company has prepared its financial statements on a going concern basis, indicating management's belief in the ability to continue operations despite current losses[24].