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LONG-TERM DEPOSITS

10. LONG-TERM DEPOSITS

Long-term deposits as of December 31, 2019 and 2018 consisted of:

	December 31, 2019		December 31, 2018

Rental deposits	$	132,043	$	132,043
Prepayments for equipment		162,563		3,285,135
	$	294,606	$	3,417,178

Accounts Payable and Accrued Expenses

12 Months Ended

Dec. 31, 2019

Accounts Payable and Accrued Liabilities, Current [Abstract]

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

11. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses as of December 31, 2019 and 2018 consisted of:

	December 31, 2019		December 31, 2018

Research and development expenses payable	$	554,791	$	398,899
Cost of healthcare services payable		45,234		40,139
Professional fees payable		171,037		178,117
Insurance expense payable		70,811		-
Interest payable		8,802		223,802
Payables for leasehold improvement and equipment		26,779		73,864
Deferred bonus and salaries payable		1,570,324		183,065
Deferred rent		55,484		58,810
Others		83,265		90,451
	$	2,586,527	$	1,247,147

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

12. INCOME TAXES

The Company and its subsidiaries file tax returns separately.

Income taxes

Cayman Islands: under the current laws of the Cayman Islands, the Company and its subsidiaries in the Cayman Islands are not subject to taxes on their income and capital gains.

Hong Kong: in accordance with the relevant tax laws and regulations of Hong Kong, a company registered in Hong Kong is subject to income taxes within Hong Kong at the applicable tax rate on taxable income. In March 2018, the Hong Kong Government introduced a two-tiered profit tax rate regime by enacting the Inland Revenue (Amendment) (No.3) Ordinance 2018 (the "Ordinance"). Under the two-tiered profits tax rate regime, the first $2 million of assessable profits of qualifying corporations is taxed at 8.25% and the remaining assessable profits at 16.5%. The Ordinance is effective from the year of assessment 2018-2019. According to the policy, if no election has been made, the whole of the taxpaying entity's assessable profits will be chargeable to Profits Tax at the rate of 16.5% or 15%, as applicable. Because the preferential tax treatment is not elected by the Group, all the subsidiaries registered in Hong Kong are subject to income tax at a rate of 16.5%. The subsidiaries registered in Hong Kong did not have assessable profits that were derived Hong Kong during the years ended December 31, 2019 and 2018, and the period March 1, 2017 through December 31, 2017. Therefore, no Hong Kong profit tax has been provided for in the periods presented.

United Kingdom: in accordance with the relevant tax laws and regulations of United Kingdom, a company registered in the United Kingdom is subject to income taxes within United Kingdom at the applicable tax rate on taxable income. All the United Kingdom subsidiaries that are not entitled to any tax holiday were subject to income tax at a rate of 19%. The subsidiary in United Kingdom did not have assessable profits that were derived from United Kingdom during the years ended December 31, 2019 and 2018, and the period March 1, 2017 through December 31, 2017. Therefore, no United Kingdom profit tax has been provided for in the periods presented.

Singapore: in accordance with the relevant tax laws and regulations of Singapore, a company registered in the Singapore is subject to income taxes within Singapore at the applicable tax rate on taxable income. All the Singapore subsidiaries that are not entitled to any tax holiday were subject to income tax at a rate of 17%. The subsidiary in Singapore did not have assessable profits that were derived from Singapore during the years ended December 31, 2019 and 2018, and the period March 1, 2017 through December 31, 2017. Therefore, no Singapore profit tax has been provided for in the periods presented.

Seychelles: in accordance with the relevant tax laws and regulations of Seychelles, a company registered in the Seychelles is subject to income taxes within Seychelles at the applicable tax rate on taxable income. All the Seychelles subsidiaries that are not entitled to any tax holiday were subject to income tax at a rate of 25%. The subsidiary in Seychelles did not have assessable profits that were derived from Seychelles during the years ended December 31, 2019 and 2018, and the period March 1, 2017 through December 31, 2017. Therefore, no Seychelles profit tax has been provided for in the periods presented.

Samoa: in accordance with the relevant tax laws and regulations of Samoa, a company registered in the Samoa is subject to income taxes within Samoa at the applicable tax rate on taxable income. All the Samoa subsidiaries that are not entitled to any tax holiday were subject to income tax at a rate of 27%. The subsidiary in Samoa did not have assessable profits that were derived from Samoa during the years ended December 31, 2019 and 2018, and the period March 1, 2017 through December 31, 2017. Therefore, no Samoa profit tax has been provided for in the periods presented.

United States (Nevada): in accordance with the relevant tax laws and regulations of the United States, a company registered in the United States is subject to income taxes within the United States at the applicable tax rate on taxable income. All the United States subsidiaries in Nevada that are not entitled to any tax holiday were subject to income tax at a rate of 21%. The subsidiary in the United States did not have assessable profits that were derived from the United States during the years ended December 31, 2019 and 2018, and the period March 1, 2017 through December 31, 2017. Therefore, no United States profit tax has been provided for in the periods presented.

The components of the provision for income taxes expenses are:

Year ended December 31, 2019

Year ended December 31, 2018

March 1, 2017
through December 31, 2017

Current

Deferred

Total income taxes expense

The reconciliation of income taxes expenses computed at the Hong Kong statutory tax rate applicable to income tax expense is as follows:

	Year ended December 31, 2019			Year ended December 31, 2018			March 1, 2017 through December 31, 2017

Net loss before tax	$	(20,116,938	)	$	(15,134,485	)	$	(2,561,507	)
Provision for income taxes at Hong Kong statutory income tax rate (16.5%)		(3,319,294	)		(2,497,190	)		(422,649	)
Impact of different tax rates in other jurisdictions		(91,623	)		(3,066	)		-
Non-taxable income		(389,714	)		(95,018	)		-
Non-deductible expenses		702,433			540,893			-
Prior year tax effect		-			-			(576,970	)
Change in valuation allowance		3,098,198			2,054,381			999,619
Effective income tax expense	$	-		$	-		$	-

Deferred tax asset, net

Deferred tax assets and deferred tax liabilities reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purpose and the tax bases used for income tax purpose. The following represents the tax effect of each major type of temporary difference.

	December 31, 2019			December 31, 2018
Deferred tax asset:
Tax loss carry forward	$	6,699,345		$	3,499,428
Deferred tax liability:
Depreciation and amortization		(547,147	)		(445,428	)
Net deferred tax assets before valuation allowance		6,152,198			3,054,000
Valuation allowance		(6,152,198	)		(3,054,000	)
Deferred tax asset, net	$	-		$	-

As of December 31, 2019 and 2018, the Group had net operating loss carry-forwards of $40,329,428 and $21,191,279, respectively, including its Hong Kong, Singapore, Seychelles, Samoa, the United States and the United Kingdom operations, which are available to reduce future taxable income. Net operating loss carry forward from Seychelles amounting to $439,345 as of December 31, 2019 are available to be carried forward for 5 years, while all of the other losses can be carried forward indefinitely.

Valuation allowance was provided against deferred tax assets in entities where it was determined, it was more likely than not that the benefits of the deferred tax assets will not be realized. The Group had deferred tax assets which consisted of tax loss carry forward, which can be carried forward to offset future taxable income. The Group maintains a full valuation allowance on its net deferred tax assets. The management determines it is more likely than not that all of its deferred tax assets will not be utilized. The valuation allowance increased by $3,098,198, $2,054,381 and $999,619, respectively, for the years ended December 31, 2019 and 2018, and the period March 1, 2017 through December 31, 2017.

Related Party Balances and Transactions

12 Months Ended

Dec. 31, 2019

RELATED PARTY BALANCES AND TRANSACTIONS

13. RELATED PARTY BALANCES AND TRANSACTIONS

The following is a list of a director and related parties to which the Group has transactions with:

(a)	Ian Huen, the Chief Executive Officer and Executive Director of the Group;
(b)	AENEAS CAPITAL LIMITED, an entity controlled by Ian Huen;
(c)	Aeneas Limited, an entity controlled by Ian Huen;
(d)	Aeneas Group Limited, an entity controlled by Ian Huen;
(e)	Aeneas Management Limited, an entity controlled by Ian Huen;
(f)	Aenco Solutions Limited, an entity controlled by Ian Huen;
(g)	Aenco Limited, an entity controlled by Ian Huen;
(h)	Jurchen Investment Corporation, the holding company and an entity controlled by Ian Huen;
(i)	Clark Cheng, the Executive Director of the Group;
(j)	Sabrina Khan, the Chief Financial Officer of the Group.

Amounts due from related parties

Amounts due from related parties consisted of the following as of December 31, 2019 and 2018:

	December 31, 2019		December 31, 2018
Current
Aeneas Management Limited	$	962	$	-
AENEAS CAPITAL LIMITED		-		169,051
Total	$	962	$	169,051

Non-current
Jurchen Investment Corporation (Note e)		50,000		50,000

Amounts due to related parties

Amounts due to related parties consisted of the following as of December 31, 2019 and 2018:

	December 31, 2019		December 31, 2018
Current
Aenco Solutions Limited	$	5,782	$	-
Aeneas Group Limited		14,247		-
Jurchen Investment Corporation		20,055		-
Ian Huen		127		2,545
Clark Cheng		1,114		8,893
Sabrina Khan		268		21,979
Total	$	41,593	$	33,417

Non-current
Aeneas Group Limited (Note a)	$	3,330,472	$	-
Jurchen Investment Corporation (Note a)		3,000,000		-
		6,330,472		-

Related party transactions

Related party transactions consisted of the following for the years ended December 31, 2019 and 2018, and the period March 1, 2017 through December 31, 2017:

	Year ended December 31, 2019		Year ended December 31, 2018		March 1, 2017 through December 31, 2017
Borrowings from related parties (Note a)
- Aeneas Group Limited	$	3,330,472	$	-	$	-
- Jurchen Investment Corporation	$	3,000,000	$	-	$	-

Interest expenses (Note a)
- Aeneas Group Limited	$	14,247	$	-	$	-
- Jurchen Investment Corporation	$	20,055	$	-	$	-

Payments on behalf of the Group (Note b)
- AENEAS CAPITAL LIMITED	$	5,057	$	-	$	64,038
- Aeneas Management Limited	$	5,372	$	156,961	$	-
- Aenco Solutions Limited	$	186,671	$	-	$	-

Prepayments to related parties (Note b)
- Aenco Solutions Limited	$	200,000	$	-	$	-

Expense reimbursement (Note b)
- AENEAS CAPITAL LIMITED	$	5,057	$	7,331	$	66,881
- Aeneas Management Limited	$	5,372	$	156,961	$	-

Payments on behalf of related parties (Note c)
- AENEAS CAPITAL LIMITED	$	-	$	22,934	$	109,025
- Aeneas Limited	$	-	$	-	$	132,074
- Aeneas Group Limited	$	-	$	-	$	1,853

Repayments from related parties (Note c)
- AENEAS CAPITAL LIMITED	$	169,051	$	132,128	$	-
- Aeneas Limited	$	-	$	190,427	$	-
- Aeneas Group Limited	$	-	$	7,451	$	-

Healthcare services income
- Aeneas Management Limited	$	1,923	$	-	$	-

Consultant, management and administrative fees (Note d)
- AENEAS CAPITAL LIMITED	$	-	$	448,718	$	640,932
- Aeneas Management Limited	$	698,152	$	-	$	-
- Aenco Limited	$	830,769	$	-	$	-

Rental expense(Note e)
- Jurchen Investment Corporation	$	227,729	$	207,841	$	-

Payment for rental deposit (Note e)
- Jurchen Investment Corporation	$	-	$	50,000	$	-

Tokens maintenance fee (Note b)
- Aenco Solutions Limited	$	67,876	$	-	$	-

Issuance of tokens for tokens creation, offering and consultancy services (Note f)
- Aenco Solutions Limited	$	300,000	$	-	$	-

Tokens creation, offering and consultancy services expense (Note f)
- Aenco Solutions Limited	$	192,000	$	-	$	-

Prepayment of tokens consultancy services (Note f)
- Aenco Solutions Limited	$	108,000	$	-	$	-

A borrowing from a related party (Note g)
- Ian Huen	$	-	$	-	$	6,410

Note a: On August 13, 2019, the Group entered into financing arrangements with Aeneas Group Limited, a related party, and Jurchen Investment Corporation, the ultimate parent of the Group, allowing the Group to access up to a total $15.0 million in line of credit debt financing. The line of credit will mature on August 12, 2022 and the interest on the outstanding principal indebtedness will be at the rate of 8% per annum.

Note b: AENEAS CAPITAL LIMITED and Aeneas Management Limited has paid the operation fee on behalf of the Group and received the expense reimbursement. The balances were non-interest bearing.

The Group has prepaid Aenco Solutions Limited, of which the whole amounts were non-interest bearing. The prepayment was used for paying on behalf of the Group of token listing fees, purchasing digital currencies and settlement of maintenance service provided by Aenco Solutions Limited.

Note c: The Group has paid the expenses on behalf of AENEAS CAPITAL LIMITED, Aeneas Limited and Aeneas Group Limited, of which all amounts were non-interest bearing. There was no further payment on behalf transactions since April 2018.

Note d: AENEAS CAPITAL LIMITED provides certain management and administrative services to the Group. For the year ended December 31, 2018, AENEAS CAPITAL LIMITED was entitled to receive a fixed amount of administrative fees of HKD500,000 (approximately $64,103) per calendar month. On July 31, 2018, the agreement was mutually agreed to be terminated.

Aenco Limited provided certain information technology services to the Group. For the year ended December 31, 2019, Aenco Limited was entitled to receive a fixed amount of services fees of HKD540,000 (approximately $69,231) per calendar month with the expiry date on December 31, 2019. The agreement was originally renewed under the same terms with the expiry date on December 31, 2020. On January 29, 2020, both parties agreed to replace the agreement no later than April 30, 2020. Pursuant to the replaced agreement, Aenco Limited is entitled to receive a fixed amount of services fee of HKD700,000 (approximately $89,744) per calendar month. The agreement will be expired on December 31, 2020.

Aeneas Management Limited provided certain documentation and administrative services to the Group. For the year ended December 31, 2019, Aeneas Management Limited was entitled to receive a fixed amount of services fees of HKD452,000 (approximately $57,949) per calendar month with the expiry date on December 31, 2019. The agreement was originally renewed under the same terms with the expiry date on December 31, 2020. On January 29, 2020, both parties agreed to terminate the agreement no later than April 30, 2020.

Note e: Jurchen Investment Corporation entered into a sub-tenancy agreement with a subsidiary of the Group for the rental arrangement of an office in Hong Kong. For the period February 1, 2018 through January 31, 2021, Jurchen Investment Corporation was entitled to receive a fixed amount of rental fee of HK$130,000 (approximately USD16,667) per calendar month. As of December 31, 2019, the amounts due from Jurchen Investment Corporation represented a $50,000 rental deposit.

Note f: In July 2019, Smart Pharmaceutical Limited Partnership, a wholly owned subsidiary of the Group, transferred 100,000,000 SMPT token to Aenco Solutions Limited, a related party, in exchange of the services related to token creation and offering and consulting services for five years for an amount of $300,000.

Note g: The non-interest-bearing loan was borrowed from management for operation purpose and the loan was due on demand.

On November 11, 2017, the Group sold 100% of the ownership of Aeneas Limited and its subsidiary, Aeneas Group Limited, to Jurchen Investment Corporation for cash proceeds of $1. The Group recognized a gain on disposal of entity under common control of $67,874, net of net liabilities of Aeneas Limited and its subsidiary of $67,874 in consolidated statement of equity.

On April 3, 2018, Aptorum Medical Limited issued 526 shares to Clark Cheng, decreasing the equity interest of the Company from 100% to 95%. On March 29, 2019, Aptorum Medical Limited issued 112 shares to Clark Cheng in according to the appointment agreement, decreasing the equity interest of the Company from 95% to 94%. On January 2, 2020, Aptorum Medical Limited further issued 115 shares to Clark Cheng in according to the appointment agreement, decreasing the equity interest of the Company from 94% to 93%.

In April 2018, the Group, AENEAS CAPITAL LIMITED, Aeneas Management Limited and Aeneas Group Limited entered into a net settlement agreement to offset the amounts due from related parties against the amounts due to related parties. Thereby, the Group is released from obligation for a total amount of $164,973, netting off receivables of total amount of $197,878 and collected remaining balance of $32,905.

Convertible Debts

12 Months Ended

Dec. 31, 2019

Schedule of assets and liabilities carried at fair value measured on a recurring basis

CONVERTIBLE DEBTS

14. CONVERTIBLE Debts

Convertible bonds

On April 6, 2018, the Group entered into a subscription agreement (the "Bond Subscription Agreement") with Peace Range Limited ("Peace Range"). Pursuant to the Bond Subscription Agreement, the Group issued Peace Range a $15,000,000 convertible bond (the "Bond" and the "Bond Offering") on April 25, 2018.

In accordance with Accounting Standards Codification ("ASC") 470-20-30-8, the Group should record a charge equal to the lower amount of either i) the Intrinsic Value of the BCF or ii) the proceeds realized upon the issuance of the Bond. The Group completed its IPO on December 17, 2018. Pursuant to the terms of the Bond, 10% of the outstanding principal amount of the Bond was automatically converted into 119,217 Class A Ordinary Shares. Upon the automatic conversion, the contingency was effectively resolved, and the value of the 10% of the BCF of $383,629 was recorded as additional interest expense with a corresponding increase to additional paid-in capital. The remaining BCF of $3,452,657 was recorded as debt discount, which was amortized through the maturity of the convertible debts, with a corresponding increase to additional paid-in capital.

The following lists the components of the ending balance of convertible debts as of December 31, 2019 and 2018, respectively:

	December 31, 2019		December 31, 2018

Gross convertible debts	$	-	$	13,500,000
Less: Discount on issuance cost		-		314,744
Discount on BCF		-		3,077,950
Convertible debts, net	$	-	$	10,107,306

For the years ended December 31, 2019 and 2018, and the period March 1, 2017 through December 31, 2017, the amortization of BCF and interest accretion of convertible debts were $3,392,694, $1,042,870 and $nil respectively. The contractual interest for the years ended December 31, 2019 and 2018, and the period March 1, 2017 through December 31, 2017 were $342,333, $815,000 and $nil respectively

On April 24, 2019, the Group repurchased its convertible debts at $13.6 million with carrying amount of $13.5 million and a gain on extinguishment on convertible debts of $1.2 million was recognized. The repurchasing of convertible debts is considered an extinguishment and the difference between the repurchasing price of debt, and the net carrying amount of the extinguished debt and the intrinsic value of BCF is recognized on the consolidated statements of operations. The intrinsic value of BCF of $1.3 million at the extinguishment date was recorded as a reduction of additional paid-in capital.

Convertible promissory notes

As of December 31, 2018, the Group has issued $1,600,400 of convertible promissory notes accumulatively (the "Notes"). An unamortized debt issuance costs and discounts of $22,935 was remaining before the IPO. For the year ended December 31, 2018, the interest accretion and the contractual interest coupon of the Notes was $26,380 and $8,802, respectively.

The Group completed its IPO on December 17, 2018. Pursuant to the terms of the Notes, all of the outstanding principal amount of the Notes was automatically converted into 230,252 Class A Ordinary Shares. The intrinsic value of the BCF was determined to be $1,600,400. The Group concluded that the contingency was effectively resolved upon the automatic conversion, and recorded a one-time charge to interest expense of $1,600,400 with a corresponding increase to additional paid-in capital.

Finance Lease

12 Months Ended

Dec. 31, 2019

Finance Lease [Abstract]

FINANCE LEASE

15. FINANCE LEASE

On May 14, 2018, the Group leased a vehicle for its operation with a lease term of 54 months, and the lease was classified as a finance lease. The following lists the components of the net present value of finance leases obligation:

	December 31, 2019		December 31, 2018

Gross finance lease obligation	$	157,047	$	210,891
Less: Discount on finance lease obligation		13,173		23,141
		143,874		187,750
Less: Current portion of finance lease obligation		46,555		43,877
Net present value of finance lease obligation, net of current portion	$	97,319	$	143,873

The present value of the net minimum payments on finance lease as of December 31, 2019 is as follows:

	2020		2021		2022		Total
Minimum lease payments	$	53,845	$	53,845	$	49,357	$	157,047
Less: Amortization of discount		7,290		4,449		1,434		13,173
Finance lease obligation	$	46,555	$	49,396	$	47,923	$	143,874

Ordinary Shares

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

ORDINARY SHARES

16. ORDINARY SHARES

On December 17, 2018, the Group consummated its IPO of 761,419 Class A Ordinary Shares. The shares were sold at a price of $15.80 per share, generating gross proceeds to the Group of approximately $12,030,420. At the completion of the IPO, $1,732,370 offering costs was charged to additional paid-in capital. Following the consummation of the IPO and automatic conversion of the convertible debts instruments, there were an aggregate of 6,537,269 Class A Ordinary Shares issued and outstanding as of December 31, 2018.

On June 19, 2019, the Group issued 60,093 Class A Ordinary Shares to warrant holders on a cashless basis. Following the exercise of warrants (see Note 19), there were an aggregate of 6,597,362 Class A Ordinary Shares issued and outstanding as of December 31, 2019.

Holders of Class A Ordinary Shares and Class B Ordinary Shares have the same rights except for the following: (i) each Class A Ordinary Share is entitled to one vote while each Class B Ordinary Share is entitled to ten votes; and (ii) each Class B Ordinary Share is convertible into one Class A Ordinary Share at any time while Class A Ordinary Shares are not convertible under any circumstances.

Share Based Compensation

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

SHARE BASED COMPENSATION

17. SHARE BASED COMPENSATION

Share option plan

A total of 5,500,000 Class A Ordinary Shares (subject to subsequent adjustments described more fully below) may be issued pursuant to awards under the 2017 Omnibus Incentive Plan (the "2017 Share Option Plan"). Subsequent adjustments include that on each January 1, starting with January 1, 2020, an additional number of shares equal to the lesser of (i) 2% of the outstanding number of Class A Ordinary Shares (on a fully diluted basis) on the immediate preceding December 31, and (ii) such lower number of Class A Ordinary Shares as may be determined by the board of directors, subject in all cases to adjustments as provided in Section 10 of the 2017 Share Option Plan. Awards will be made pursuant to agreements and may be subject to vesting and other restrictions as determined by the board of directors.

On March 15, 2019, the Company granted 218,222 share options to directors, employees, external consultants and advisors of the Group in accordance to the 2017 Share Option Plan with an exercise price of $12.91.

A summary of the option activity as of December 31, 2019 and changes during the period is presented below:

	Number of share options		Weighted average exercise price $		Remaining contractual term in years

Outstanding, January 1, 2019		-		-		-

Granted		218,222		12.91		12.31
Outstanding, December 31, 2019		218,222		12.91		11.51
Exercisable, December 31, 2019		-		-		-

Intrinsic value is calculated as the amount by which the current market value of a share of common stock exceeds the exercise price multiplied by the number of option. The aggregate intrinsic value of options outstanding as of December 31, 2019 was approximately $642,000.

The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option pricing model under the following assumptions.

		Date of grant
Expected volatility		95.02%-95.15%
Risk-free interest rate		2.46%-2.49%
Expected term from grant date (in years)		6.29-7.29
Dividend rate		-
Dilution factor		0.9962
Fair value		$10.10-10.52

In connection with the grant of share options to employees and non-employees, the Group recorded share-based compensation charges of $1,180,477 and $432,355, respectively.

Non-Controlling Interest

12 Months Ended

Dec. 31, 2019

Noncontrolling Interest [Abstract]

NON-CONTROLLING INTEREST

18. NON-CONTROLLING INTEREST

As of December 31, 2018, non-controlling interest related to the 1% equity interest in APTUS BIOTECHNOLOGY (MACAO) LIMITED, 10% equity interest in mTOR (Hong Kong) Limited, 5% equity interest in Aptorum Medical Limited ("AML"), 20% equity interest in Acticule, and 20% equity interest in the Lanither Life Sciences Limited in the consolidated balance sheets was deficit of $368,533 in total.

On March 29, 2019, AML, a majority-owned subsidiary of the Group, issued 112 shares to a director of the Group, which resulted an increase of his equity interest of AML from 5% to 6%. A deficit of $10,672 was reclassified from additional paid-in capital to non-controlling interests within the Group's consolidated financial statements

On April 24, 2019, the Smart Pharma Tokens ("SMPT tokens") was announced to be launched. The SMPT tokens are secured by way of a floating charge against the Project intellectual property ("IP") to guarantee the distribution of accrued sales-based royalties, sublicensing income or additional cash flow generated by drug candidates developed by the Smart-ACT ^TM platform. SMPT token holders will only be eligible to receive a token distribution if any sales-based royalties, sublicensing income or additional cash flow is generated by drug candidates developed by the Smart-ACT ^TM platform, as and when SPLP declares the distribution. Because the token distribution is secured by a security interest in such intellectual property rights, if and when SPLP defaults in its distribution obligations to the SMPT token holders, or in the event of liquidation, dissolution or winding up of SPLP, the floating charge may crystallize into a fixed charge over the charged assets (i.e., the Project IP owned by SPLP).

Total 1 billion SMPT tokens are offered by Smart Pharmaceutical Limited Partnership ("SPLP"), a wholly owned subsidiary of the Group. In July 2019, SPLP transferred 100,000,000 SMPT tokens to Aenco Solutions Limited, a related party of the Group, in exchange for the services related to the tokens creation, offering and 5-year consultancy service. Amount of $300,000 were classified as a component of non-controlling interests within the Group's consolidated financial statements. The remaining 900,000,000 SMPT tokens are remained and kept by SPLP.

As of December 31, 2019, non-controlling interest related to 10% equity interest in mTOR (Hong Kong) Limited, 6% equity interest in Aptorum Medical Limited, 20% equity interest in Acticule, 20% equity interest in the Lanither Life Sciences Limited and the token issued by SPLP in the consolidated balance sheets was deficit of $1,509,456 in total.

For the years ended December 31, 2019 and 2018, and the period March 1, 2017 through December 31, 2017, non-controlling interest in the consolidated statements of operations were loss of $1,430,176, $302,762 and $14,045, respectively.

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References + Details

Warrants

12 Months Ended

Dec. 31, 2019

Warrants [Abstract]

WARRANTS

19. Warrants

On November 30, 2018 and December 17, 2018, the Company entered into several agreements with underwriter. In return for the underwriter's services, the Company issued an aggregate of 80,453 and 38,071 warrants to purchase the same number of the Company's ordinary shares, for the convertible debts and the IPO, respectively. The shares were fully vested upon the IPO completion date and the fair value of the warrants was $659,697 and $218,147, respectively, which was calculated using the Black-Scholes pricing model, with the following weighted-average assumptions.

The Group analyzed the warrants issued in the IPO and the convertible debts in accordance with ASC Topic 815 "Derivatives and Hedging". In accordance with ASC Topic 815, the Group determined that the warrants should not be considered index to its own stock, as the strike price of the warrants is dominated in a currency (USD) other than the primary economy environment currency of the Group (HKD). As a result, the warrants do not meet the scope exception of ASC Topic 815, therefore, should be accounted for as derivative liabilities and measure at fair value with changes in fair value be recorded in earnings in each reporting period.

All warrants were exercised on June 19, 2019 on a cashless basis. $866,300 loss in changes in fair value of warrant liabilities was recorded in consolidated statements of operations.

	December 31, 2019			December 31, 2018
Expected volatility		-	%		58.18	%
Risk-free interest rate		-			2.820%-2.822%
Expected term from grant date (in years)		-			2.43
Dividend rate		-			-
Fair value	$	-		$	4.60-9.48

Expected Volatility

The expected volatility used for the year ended December 31, 2018 is based upon the Company's peer group trading history.

Risk-Free Interest Rate

The risk-free interest rate assumption is based on U.S. Treasury instruments with a term consistent with the contractual term of the warrants issued.

Expected Term

The expected term of the warrants issued represents the remaining contractual term of the warrants.

Dividend Yield

The Company has never declared or paid any cash dividends and does not plan to pay cash dividends in the foreseeable future, and therefore, used an expected dividend yield of zero in the valuation model.

The movement of the warrants for the years ended December 31, 2019 and 2018 are as following:

	Warrants		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term in Years
Outstanding, January 1, 2019		118,524	$	13.79		2.43

Exercised		118,524	$	13.79		1.96
Outstanding, December 31, 2019		-	$	-		-

Outstanding, January 1, 2018		-	$	-		-

Granted		118,524	$	13.79		2.50
Outstanding, December 31, 2018		118,524	$	13.79		2.43

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details

Net Loss Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

NET LOSS PER SHARE

20. NET LOSS PER SHARE

The following table sets forth the computation of basic and diluted loss per share:

	Year ended December 31, 2019			Year ended December 31, 2018			March 1, 2017 through December 31, 2017
Numerator:
Net loss attributable to Aptorum Group Limited	$	(18,686,762	)	$	(14,831,723	)	$	(2,547,462	)
Denominator:
Basic and diluted weighted average common shares outstanding		29,008,445			27,909,788			26,963,435

Basic and diluted loss per share	$	(0.64	)	$	(0.53	)	$	(0.09	)

Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

21. COMMITMENTS AND CONTINGENCIES

Lease Commitments

The total future minimum lease payments under the non-cancellable operating leases with respect to the offices and the laboratory as of December 31, 2019 are as follows:

For the years ending December 31,	Amount

2020	$	597,198
2021		397,842
2022		75,174
2023		-
2024 and thereafter		-
Total	$	1,070,214

Rental expenses for the years ended December 31, 2019 and 2018, and the period March 1, 2017 through December 31, 2017 were $664,155, $591,546 and $49,518, respectively.

Contingent Payment Obligations

The Group has entered into agreements with independent third parties for purchasing office and laboratory equipment. As of December 31, 2019, the Group had non-cancellable purchase commitments of $61,859.

The Group has additional contingency payment obligations under each of the license agreements, such as milestone payments, royalties, research and development funding, if certain condition or milestone is met.

Milestone payments are to be made upon achievements of certain conditions, such as Investigational New Drugs ("IND") filing or U.S. Food and Drug Administration ("FDA") approval, first commercial sale of the licensed products, or other achievements. The aggregate amount of the milestone payments that the Group are required to pay up to different achievements of conditions and milestones for all the license agreements signed as of December 31, 2019 are below:

	Amount
Drug molecules: up to the conditions and milestones of
Preclinical to IND filing	$	372,564
From entering phase 1 to before first commercial sale		24,216,410
First commercial sale		15,656,410
Net sales amount more than certain threshold in a year		75,769,231
Subtotal		116,014,615

Surgical robotics and medical devices: up to the conditions and milestones of
Before FDA approval		270,000
FDA approval obtained		200,000
Subtotal		470,000

Total	$	116,484,615

For the years ended December 31, 2019 and 2018, and the period March 1, 2017 through December 31, 2017, the Group incurred $nil, $30,000 and $nil milestone payments, respectively. For the years ended December 31, 2019 and 2018, and the period March 1, 2017 through December 31, 2017, the Group did not incur any royalties or research and development funding, respectively. As of December 31, 2019, no other milestone payments had been triggered under any of the existing license agreements.

Segment Reporting

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

SEGMENT REPORTING

22. SEGMENT REPORTING

The Group's chief operating decision maker, the Chief Executive Officer, reviews the consolidated results when making decisions about allocating resources and accessing performance of the Group as a whole and hence, the Group has only one reportable segment. The Group does not distinguish between markets or segments for the purpose of internal reporting. The Group's long-lived assets are substantially all located in Hong Kong and substantially all of the Group's expense is derived from within Hong Kong. Therefore, no geographical segments are presented.

Subsequent Events

12 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

23. SUBSEQUENT EVENTS

The Group has evaluated subsequent events through the date of issuance of the consolidated financial statements, and except for the following events with material financial impact on the Group's consolidated financial statements, no other subsequent event is identified that would have required adjustment or disclosure in the consolidated financial statements.

On January 14, 2020, Aptorum Group entered into a regional distribution agreement with Multipak Limited for the commercialization of its dietary supplement for women undergoing menopause and experiencing related symptoms. The dioscorea opposita bioactive nutraceutical tablets has commenced production in Canada and will be marketed under the brand name NativusWell ^TM .

On February 25, 2020, the Company entered into certain securities purchase agreement (the "Purchase Agreement") with certain non-affiliated institutional investors and Jurchen Investment Corporation, the ultimate parent of the Group, pursuant to which the Company agreed to sell total 1,351,350 Class A Ordinary Shares (the "Shares") and warrants ("Warrants") to purchase 1,351,350 of the Shares, for gross proceeds of approximately $10 million. The Warrants will be exercisable immediately following the date of issuance for a period of seven years at an initial exercise price of $7.40. The purchase price for each Share and the corresponding Warrant is $7.40. The Shares and Warrants were issued on February 28, 2020. Additionally, the Company issued 43,243 warrants to the placement agent on terms substantially the same as the Warrants except that the exercise price of the warrants issued to the Placement Agent was $8.88.

On March 16, 2020, the Company granted 554,882 share options to employees, external consultants and advisors of the Group in accordance to the 2017 Share Option Plan with an exercise price of$2.99 per share.

On January 30, 2020, the World Health Organization declared the coronavirus outbreak a "Public Health Emergency of International Concern" and on March 10, 2020, declared it to be a pandemic. Actions taken around the world to help mitigate the spread of the coronavirus include restrictions on travel, and quarantines in certain areas, and forced closures for certain types of public places and businesses. The coronavirus and actions taken to mitigate it have had and are expected to continue to have an adverse impact on the economies and financial markets of many countries, including the geographical area in which the Company operates. While the closures and limitations on movement, domestically and internationally, are expected to be temporary, if the outbreak continues on its current trajectory the duration of the supply chain disruption could reduce the availability, or result in delays, of materials or supplies to and from the Group, which in turn could materially interrupt the Group's business operations. Given the speed and frequency of the continuously evolving developments with respect to this pandemic, the Group cannot reasonably estimate the magnitude of the impact to its consolidated results of operations.

Additionally, it is reasonably possible that estimates made in the financial statements have been, or will be, materially and adversely impacted in the near term as a result of these conditions, including losses on investments; impairment losses related to long-lived assets and current obligations.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Principles of presentation and consolidation

Non-controlling interests

Non-controlling interests represent the equity interests that are not attributable to the Group.

Use of estimates

Foreign currency translation and transaction

Cash

Cash consists of cash on hand and bank deposits and cash denominated in foreign currencies, which is unrestricted as to withdraw and use.

Restricted cash

Restricted cash represented a time deposit pledged for banking facilities or cash deposited into the escrow account from investors for the purpose of the subscription of convertible debts.

Digital currencies

Digital currencies represented BitCoin, Ethereum, or other virtual currencies that the Group purchased and used to settle certain token related expenses.

Digital currencies are included in current assets in the consolidated balance sheets. Digital currencies purchased are recorded at cost.

Inventories

Inventories are stated at lower of cost and net realizable value. Cost is determined using the weighted average method.

Accounts receivable

Marketable securities

Investments in derivatives

Non-marketable investments

Fair value measurement

As a basis for considering such assumptions, a three-tier fair value hierarchy prioritizes the inputs utilized in measuring fair value as follows:

	●	Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

	●	Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

	●	Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

Property, plant and equipment

Depreciation of property, plant and equipment is provided using the straight-line method over their estimated useful lives:

Building		29 years
Computer equipment		3 years
Furniture, fixture, and office and medical equipment		5 years
Leasehold improvements		Shorter of the remaining lease terms or 5 years
Laboratory equipment		5 years
Motor vehicle		5 years

Upon sale or disposal, the applicable amounts of asset cost and accumulated depreciation are removed from the accounts and the net amount less proceeds from disposal is charged or credited to income.

Other non-current asset

Intangible assets

Impairment of long-lived assets

Convertible debts

Finance lease

Warrant liabilities

Revenue recognition

Cost of healthcare service

Cost of healthcare service rendered represents cost in relation to the medical services provided including the compensation of the physicians and cost of pharmaceutical supplies and medicine.

Research and development expenses

Income taxes

Uncertain tax positions

Comprehensive income or loss

Loss per share

Risks and Uncertainties

Recently adopted accounting pronouncements

	December 31, 2018			Adjustment due to ASU 2016-01			January 1, 2019
Accumulated deficit	$	(17,379,185	)	$	(1,490,033	)	$	(18,869,218	)
Accumulated other comprehensive loss	$	(1,484,688	)	$	1,490,033		$	5,345

Recently issued accounting standards which have not yet been adopted

Organization (Tables)

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of subsidiaries

Name	Incorporation date	Ownership	Place of incorporation	Principle activities
Aptorum Therapeutics Limited	June 30, 2016	100%	Cayman Islands	Research and development of life science and biopharmaceutical products
APTUS MANAGEMENT LIMITED	May 16, 2017	100%	Hong Kong	Provision of management services to its holding company and fellow subsidiaries
Aptorum Medical Limited	August 28, 2017	94%	Cayman Islands	Provision of medical clinic services
Aptus Therapeutics (Hong Kong) Limited	June 30, 2016	100%	Hong Kong	Research and development of life science and biopharmaceutical products
Aptorum Pharmaceutical Development Limited	August 28, 2017	100%	Cayman Islands	Research and development of life science and biopharmaceutical products
Aptorum Innovations Holding Limited	April 15, 2019	100%	Cayman Islands	Investment holding company
Aptorum Innovations Holding Pte. Ltd.	June 5, 2019	100%	Singapore	Research and development of life science and biopharmaceutical products
Aptorum Investment Holding Limited	March 29, 2019	100%	Cayman Islands	Investment holding company
Acticule Life Sciences Limited	June 30, 2017	80%	Cayman Islands	Research and development of life science and biopharmaceutical products
Claves Life Sciences Limited	August 2, 2017	100%	Cayman Islands	Research and development of life science and biopharmaceutical products
Nativus Life Sciences Limited	July 7, 2017	100%	Cayman Islands	Research and development of life science and biopharmaceutical products
Videns Incorporation Limited	March 2, 2017	100%	Cayman Islands	Research and development of life science and biopharmaceutical products
mTOR (Hong Kong) Limited	November 4, 2016	90%	Hong Kong	Research and development of life science and biopharmaceutical products
Scipio Life Sciences Limited	July 19, 2017	100%	Cayman Islands	Research and development of life science and biopharmaceutical products
Signate Life Sciences Limited	August 28, 2017	100%	Cayman Islands	Research and development of life science and biopharmaceutical products
SMTPH Limited	April 18, 2019	100%	Seychelles	Investment holding company
Smart Pharmaceutical Research Limited	April 24, 2019	100%	Samoa	Pharmaceutical research and analysis
Smart Pharmaceutical Development Pte. Limited	May 10, 2019	100%	Singapore	Research and development of life science and biopharmaceutical products
Smart Pharmaceutical Limited Partnership	June 7, 2019	100%	Seychelles	Issuance of asset backed securities

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Schedule of estimated useful lives

Building		29 years
Computer equipment		3 years
Furniture, fixture, and office and medical equipment		5 years
Leasehold improvements		Shorter of the remaining lease terms or 5 years
Laboratory equipment		5 years
Motor vehicle		5 years

Schedule of the changes to the consolidated balance sheet

	December 31, 2018			Adjustment due to ASU 2016-01			January 1, 2019
Accumulated deficit	$	(17,379,185	)	$	(1,490,033	)	$	(18,869,218	)
Accumulated other comprehensive loss	$	(1,484,688	)	$	1,490,033		$	5,345

Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

December 31, 2019	Level 1		Level 2		Level 3		Total
Current Assets
Marketable securities
Common stocks	$	806,778	$	256,333	$	-	$	1,063,111
Investments in derivatives
Warrants		-		-		203,320		203,320
Total assets at fair value	$	806,778	$	256,333	$	203,320	$	1,266,431

December 31, 2018	Level 1		Level 2		Level 3		Total
Current Assets
Marketable securities – Available-for-sale securities
Common stocks	$	813,728	$	200,610	$	-	$	1,014,338
Investments in derivatives
Warrants		-		-		115,721		115,721
Total assets at fair value	$	813,728	$	200,610	$	115,721	$	1,130,059

Schedule of fair value reconciliation of Level 3 assets

	Warrants
Balance at January 1, 2019	$	115,721
Change in unrealized appreciation		87,599
Balance at December 31, 2019	$	203,320
Net change in unrealized appreciation relating to investments still held at December 31, 2019		87,599

	Warrants
Balance at January 1, 2018	$	1,070,940
Change in unrealized depreciation		(955,219	)
Balance at December 31, 2018	$	115,721
Net change in unrealized depreciation relating to investments still held at December 31, 2018		(955,219	)

Schedule of reconciliation of level 3 assets

	Aptorum Therapeutics– related party			Common Stocks			Preferred Stocks			Warrants			Convertible Notes			Total
Balance at February 28, 2017	$	757,647		$	7,920,000		$	4,314,998		$	1,907,470		$	3,082,020		$	17,982,135
Transfer out of Level 3 due to change in status – consolidated subsidiary (a)		(757,647	)		-			-			-			-			(757,647	)
Transfer out of fair value leveling since recorded as cost method (b)		-			(7,920,000	)		(4,314,998	)		-			-			(12,234,998	)
Balance at March 1, 2017	$	-		$	-		$	-		$	1,907,470		$	3,082,020		$	4,989,490
Reclassification between different investment type (c)		-			-			3,079,715			-			(3,079,715	)		-
Transfer out of fair value leveling since recorded as cost method (c)		-			-			(3,079,715	)		-			-			(3,079,715	)
Change in unrealized depreciation		-			-			-			(836,530	)		(2,305	)		(838,835	)
Balance at December 31, 2017	$	-		$	-		$	-		$	1,070,940		$	-		$	1,070,940
Net change in unrealized depreciation relating to investments still held at December 31, 2017		-			-			-			(836,530	)		-			(836,530	)

a.	Upon the effective date of the change in status, March 1, 2017, the subsidiaries were no longer recognized at fair value and were instead consolidated when preparing the financial statements.

Schedule of quantitative information about the group’s level 3 fair value measurements of investment

December 31,
2019

Valuation technique

Unobservable input

Range

(weighted average)

Sensitivity of fair

value to input

Warrants

Black-Scholes Model

Estimated time to exit Historical Volatility

12-18 months 73% - 301%

10% increase (decrease) in volatility would result in increase (decrease) in fair value by $17,871

December 31,
2018

Valuation technique

Unobservable input

Range

(weighted average)

Sensitivity of fair

value to input

Warrants

Black-Scholes Model

Estimated time to exit Historical Volatility

12-30 months 73% - 188%

10% increase (decrease) in volatility would result in increase (decrease) in fair value by $19,691

Schedule of derivative activities based on their notional amount and number of contracts

Long Exposure

December 31, 2019

December 31, 2018

Primary underlying risk

Notional
Amounts

Number of Contracts

Notional Amounts

Number of Contracts

Equity Price

Warrants

265,576

2,234,373

218,270

2,257,682

Schedule of fair value amounts of derivative instruments included in the consolidated balance sheets

	December 31, 2019				December 31, 2018
Primary underlying risk	Derivative assets		Derivative liabilities		Derivative assets		Derivative liabilities

Equity Price
Warrants	$	203,320	$	-	$	115,721	$	-

	Year ended December 31, 2019				Year ended December 31, 2018						March 1, 2017 through December 31, 2017
Primary underlying risk	Realized loss		Unrealized gain		Realized loss			Unrealized loss			Realized loss			Unrealized loss

Equity Price
Warrants	$	-	$	87,599	$	(19,225	)	$	(955,219	)	$	(7,094	)	$	(820,407	)

Schedule of unrealized gains and losses

	Year ended December 31, 2019
Upward adjustments	$	1,017,468
Total unrealized gain for non-marketable investments	$	1,017,468

Schedule of carrying value of our non-marketable investments

	December 31, 2019
Initial cost basis	$	6,094,712
Upward adjustments		1,017,468
Total carrying value at the end of the period	$	7,112,180

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References + Details

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

- Definition

Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

+ References + Details

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details

Other Receivables and Prepayments (Tables)

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Schedule of other receivables and prepayments

	December 31, 2019		December 31, 2018

Prepaid insurance	$	154,011	$	147,864
Prepaid service fee		296,565		75,224
Rental deposits		8,584		8,576
Prepaid rental expenses		37,169		46,948
Prepaid research and development expenses		453,634		41,614
Other receivables		109,714		109,435
Others		19,366		34,495
	$	1,079,043	$	464,156

Digital Currencies (Tables)

12 Months Ended

Dec. 31, 2019

Digital Currencies [Abstract]

Schedule of additional information about digital currencies

	December 31, 2019			December 31, 2018

Beginning balance	$	-		$	-
Purchase of digital currencies		200,000			-
Utilization of digital currencies to settle service fee		(245,178	)		-
Gain on use of digital currencies		46,717			-
Ending balance	$	1,539		$	-

Property, Plant and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Schedule of property, plant and equipment

	December 31, 2019		December 31, 2018

Building	$	1,488,396	$	1,488,396
Computer equipment		76,365		64,911
Furniture, fixture, and office and medical equipment		271,009		262,819
Leasehold improvements		665,546		664,713
Laboratory equipment		4,029,640		2,045,034
Motor vehicle		239,093		239,093
Assets in construction		1,899,169		-
		8,669,218		4,764,966
Less: accumulated depreciation		1,576,183		504,364
Property, plant and equipment, net	$	7,093,035	$	4,260,602

- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References + Details

Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of intangible assets

	December 31, 2019		December 31, 2018

Gross carrying amount
Prepaid unpatented license	$	200,000	$	200,000
Prepaid patented licenses		1,322,820		1,322,820
Computer software		97,462		61,384
		1,620,282		1,584,204

Less: accumulated amortization
Prepaid patented licenses		257,619		155,026
Computer software		50,980		19,638
		308,599		174,664

Intangible assets, net
Prepaid unpatented license		200,000		200,000
Prepaid patented licenses		1,065,201		1,167,794
Computer software		46,482		41,746
Intangible assets, net	$	1,311,683	$	1,409,540

Schedule of amortization expense related to its finite-lived intangible assets

For the years ending December 31,	Amount

2020	$	146,826
2021		104,842
2022		102,593
2023		102,593
2024		97,099
Thereafter		557,730
Total	$	1,111,683

Long-Term Deposits (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of long-term deposits

	December 31, 2019		December 31, 2018

Rental deposits	$	132,043	$	132,043
Prepayments for equipment		162,563		3,285,135
	$	294,606	$	3,417,178

Accounts Payable and Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2019

Accounts Payable and Accrued Liabilities, Current [Abstract]

Schedule of accounts payable and accrued expenses

	December 31, 2019		December 31, 2018

Research and development expenses payable	$	554,791	$	398,899
Cost of healthcare services payable		45,234		40,139
Professional fees payable		171,037		178,117
Insurance expense payable		70,811		-
Interest payable		8,802		223,802
Payables for leasehold improvement and equipment		26,779		73,864
Deferred bonus and salaries payable		1,570,324		183,065
Deferred rent		55,484		58,810
Others		83,265		90,451
	$	2,586,527	$	1,247,147

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of provision for income taxes expenses

Year ended December 31, 2019

Year ended December 31, 2018

March 1, 2017
through December 31, 2017

Current

Deferred

Total income taxes expense

Schedule of income taxes expenses computed at the Hong Kong statutory tax rate

	Year ended December 31, 2019			Year ended December 31, 2018			March 1, 2017 through December 31, 2017

Net loss before tax	$	(20,116,938	)	$	(15,134,485	)	$	(2,561,507	)
Provision for income taxes at Hong Kong statutory income tax rate (16.5%)		(3,319,294	)		(2,497,190	)		(422,649	)
Impact of different tax rates in other jurisdictions		(91,623	)		(3,066	)		-
Non-taxable income		(389,714	)		(95,018	)		-
Non-deductible expenses		702,433			540,893			-
Prior year tax effect		-			-			(576,970	)
Change in valuation allowance		3,098,198			2,054,381			999,619
Effective income tax expense	$	-		$	-		$	-

Scgedule of deferred tax asset

	December 31, 2019			December 31, 2018
Deferred tax asset:
Tax loss carry forward	$	6,699,345		$	3,499,428
Deferred tax liability:
Depreciation and amortization		(547,147	)		(445,428	)
Net deferred tax assets before valuation allowance		6,152,198			3,054,000
Valuation allowance		(6,152,198	)		(3,054,000	)
Deferred tax asset, net	$	-		$	-

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References + Details

Related Party Balances and Transactions (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of due (from) to related parties

	December 31, 2019		December 31, 2018
Current
Aeneas Management Limited	$	962	$	-
AENEAS CAPITAL LIMITED		-		169,051
Total	$	962	$	169,051

Non-current
Jurchen Investment Corporation (Note e)		50,000		50,000

	December 31, 2019		December 31, 2018
Current
Aenco Solutions Limited	$	5,782	$	-
Aeneas Group Limited		14,247		-
Jurchen Investment Corporation		20,055		-
Ian Huen		127		2,545
Clark Cheng		1,114		8,893
Sabrina Khan		268		21,979
Total	$	41,593	$	33,417

Non-current
Aeneas Group Limited (Note a)	$	3,330,472	$	-
Jurchen Investment Corporation (Note a)		3,000,000		-
		6,330,472		-

Schedule of related party transactions

	Year ended December 31, 2019		Year ended December 31, 2018		March 1, 2017 through December 31, 2017
Borrowings from related parties (Note a)
- Aeneas Group Limited	$	3,330,472	$	-	$	-
- Jurchen Investment Corporation	$	3,000,000	$	-	$	-

Interest expenses (Note a)
- Aeneas Group Limited	$	14,247	$	-	$	-
- Jurchen Investment Corporation	$	20,055	$	-	$	-

Payments on behalf of the Group (Note b)
- AENEAS CAPITAL LIMITED	$	5,057	$	-	$	64,038
- Aeneas Management Limited	$	5,372	$	156,961	$	-
- Aenco Solutions Limited	$	186,671	$	-	$	-

Prepayments to related parties (Note b)
- Aenco Solutions Limited	$	200,000	$	-	$	-

Expense reimbursement (Note b)
- AENEAS CAPITAL LIMITED	$	5,057	$	7,331	$	66,881
- Aeneas Management Limited	$	5,372	$	156,961	$	-

Payments on behalf of related parties (Note c)
- AENEAS CAPITAL LIMITED	$	-	$	22,934	$	109,025
- Aeneas Limited	$	-	$	-	$	132,074
- Aeneas Group Limited	$	-	$	-	$	1,853

Repayments from related parties (Note c)
- AENEAS CAPITAL LIMITED	$	169,051	$	132,128	$	-
- Aeneas Limited	$	-	$	190,427	$	-
- Aeneas Group Limited	$	-	$	7,451	$	-

Healthcare services income
- Aeneas Management Limited	$	1,923	$	-	$	-

Consultant, management and administrative fees (Note d)
- AENEAS CAPITAL LIMITED	$	-	$	448,718	$	640,932
- Aeneas Management Limited	$	698,152	$	-	$	-
- Aenco Limited	$	830,769	$	-	$	-

Rental expense(Note e)
- Jurchen Investment Corporation	$	227,729	$	207,841	$	-

Payment for rental deposit (Note e)
- Jurchen Investment Corporation	$	-	$	50,000	$	-

Tokens maintenance fee (Note b)
- Aenco Solutions Limited	$	67,876	$	-	$	-

Issuance of tokens for tokens creation, offering and consultancy services (Note f)
- Aenco Solutions Limited	$	300,000	$	-	$	-

Tokens creation, offering and consultancy services expense (Note f)
- Aenco Solutions Limited	$	192,000	$	-	$	-

Prepayment of tokens consultancy services (Note f)
- Aenco Solutions Limited	$	108,000	$	-	$	-

A borrowing from a related party (Note g)
- Ian Huen	$	-	$	-	$	6,410

Convertible Debts (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of each stock option award is estimated on the date of grant using the Black-Scholes option pricing model

Schedule of components of the ending balance of convertible debts

	December 31, 2019		December 31, 2018

Gross convertible debts	$	-	$	13,500,000
Less: Discount on issuance cost		-		314,744
Discount on BCF		-		3,077,950
Convertible debts, net	$	-	$	10,107,306

Finance Lease (Tables)

12 Months Ended

Dec. 31, 2019

Finance Lease

Schedule of components of capital leases obligation

	December 31, 2019		December 31, 2018

Gross finance lease obligation	$	157,047	$	210,891
Less: Discount on finance lease obligation		13,173		23,141
		143,874		187,750
Less: Current portion of finance lease obligation		46,555		43,877
Net present value of finance lease obligation, net of current portion	$	97,319	$	143,873

Schedule of net minimum payments on capital lease

	2020		2021		2022		Total
Minimum lease payments	$	53,845	$	53,845	$	49,357	$	157,047
Less: Amortization of discount		7,290		4,449		1,434		13,173
Finance lease obligation	$	46,555	$	49,396	$	47,923	$	143,874

- Definition

Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 10
-Section 55
-Paragraph 40
-Subparagraph (Note 1,3)
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84164451&loc=d3e36991-112694

+ Details

Share Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of the option activity

	Number of share options		Weighted average exercise price $		Remaining contractual term in years

Outstanding, January 1, 2019		-		-		-

Granted		218,222		12.91		12.31
Outstanding, December 31, 2019		218,222		12.91		11.51
Exercisable, December 31, 2019		-		-		-

		Date of grant
Expected volatility		95.02%-95.15%
Risk-free interest rate		2.46%-2.49%
Expected term from grant date (in years)		6.29-7.29
Dividend rate		-
Dilution factor		0.9962
Fair value		$10.10-10.52

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References + Details

Warrants (Tables)

12 Months Ended

Dec. 31, 2019

Warrants [Abstract]

Schedule of loss in changes in fair value of warrant liabilities was recorded in consolidated statements of operations

	December 31, 2019			December 31, 2018
Expected volatility		-	%		58.18	%
Risk-free interest rate		-			2.820%-2.822%
Expected term from grant date (in years)		-			2.43
Dividend rate		-			-
Fair value	$	-		$	4.60-9.48

Schedule for movement of the warrants

	Warrants		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term in Years
Outstanding, January 1, 2019		118,524	$	13.79		2.43

Exercised		118,524	$	13.79		1.96
Outstanding, December 31, 2019		-	$	-		-

Outstanding, January 1, 2018		-	$	-		-

Granted		118,524	$	13.79		2.50
Outstanding, December 31, 2018		118,524	$	13.79		2.43

Net Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Schedule of basic and diluted loss per share

	Year ended December 31, 2019			Year ended December 31, 2018			March 1, 2017 through December 31, 2017
Numerator:
Net loss attributable to Aptorum Group Limited	$	(18,686,762	)	$	(14,831,723	)	$	(2,547,462	)
Denominator:
Basic and diluted weighted average common shares outstanding		29,008,445			27,909,788			26,963,435

Basic and diluted loss per share	$	(0.64	)	$	(0.53	)	$	(0.09	)

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of total future minimum lease payments under the non-cancellable operating leases

For the years ending December 31,	Amount

2020	$	597,198
2021		397,842
2022		75,174
2023		-
2024 and thereafter		-
Total	$	1,070,214

Schedule of milestone payments are to be made upon achievements of certain conditions

	Amount
Drug molecules: up to the conditions and milestones of
Preclinical to IND filing	$	372,564
From entering phase 1 to before first commercial sale		24,216,410
First commercial sale		15,656,410
Net sales amount more than certain threshold in a year		75,769,231
Subtotal		116,014,615

Surgical robotics and medical devices: up to the conditions and milestones of
Before FDA approval		270,000
FDA approval obtained		200,000
Subtotal		470,000

Total	$	116,484,615

Organization (Details)	12 Months Ended
Organization (Details)	Dec. 31, 2019
Aptorum Therapeutics Limited [Member]
Incorporation date	Jun. 30, 2016
Ownership	100.00%
Place of incorporation	Cayman Islands
Principle activities	Research and development of life science and biopharmaceutical products
APTUS MANAGEMENT LIMITED [Member]
Incorporation date	May 16, 2017
Ownership	100.00%
Place of incorporation	Hong Kong
Principle activities	Provision of management services to its holding company and fellow subsidiaries
Aptus Therapeutics (Hong Kong) Limited [Member]
Incorporation date	Jun. 30, 2016
Ownership	100.00%
Place of incorporation	Hong Kong
Principle activities	Research and development of life science and biopharmaceutical products
Aptorum Medical Limited [Member]
Incorporation date	Aug. 28, 2017
Ownership	94.00%
Place of incorporation	Cayman Islands
Principle activities	Provision of medical clinic services
Videns Incorporation Limited [Member]
Incorporation date	Mar. 02, 2017
Ownership	100.00%
Place of incorporation	Cayman Islands
Principle activities	Research and development of life science and biopharmaceutical products
mTOR (Hong Kong) Limited [Member]
Incorporation date	Nov. 04, 2016
Ownership	90.00%
Place of incorporation	Hong Kong
Principle activities	Research and development of life science and biopharmaceutical products
Nativus Life Sciences Limited [Member]
Incorporation date	Jul. 07, 2017
Ownership	100.00%
Place of incorporation	Cayman Islands
Principle activities	Research and development of life science and biopharmaceutical products
Scipio Life Sciences Limited [Member]
Incorporation date	Jul. 19, 2017
Ownership	100.00%
Place of incorporation	Cayman Islands
Principle activities	Research and development of life science and biopharmaceutical products
Claves Life Sciences Limited [Member]
Incorporation date	Aug. 02, 2017
Ownership	100.00%
Place of incorporation	Cayman Islands
Principle activities	Research and development of life science and biopharmaceutical products
Aptorum Pharmaceutical Development Limited [Member]
Incorporation date	Aug. 28, 2017
Ownership	100.00%
Place of incorporation	Cayman Islands
Principle activities	Research and development of life science and biopharmaceutical products
Signate Life Sciences Limited [Member]
Incorporation date	Aug. 28, 2017
Ownership	100.00%
Place of incorporation	Cayman Islands
Principle activities	Research and development of life science and biopharmaceutical products
Acticule Life Sciences Limited [Member]
Incorporation date	Jun. 30, 2017
Ownership	80.00%
Place of incorporation	Cayman Islands
Principle activities	Research and development of life science and biopharmaceutical products
SMTPH Limited [Member]
Incorporation date	Apr. 18, 2019
Ownership	100.00%
Place of incorporation	Seychelles
Principle activities	Investment holding company
Smart Pharmaceutical Research Limited [Member]
Incorporation date	Apr. 24, 2019
Ownership	100.00%
Place of incorporation	Samoa
Principle activities	Pharmaceutical research and analysis
Smart Pharmaceutical Development Pte. Limited [Member]
Incorporation date	May 10, 2019
Ownership	100.00%
Place of incorporation	Singapore
Principle activities	Research and development of life science and biopharmaceutical products
Smart Pharmaceutical Limited Partnership [Member]
Incorporation date	Jun. 07, 2019
Ownership	100.00%
Place of incorporation	Seychelles
Principle activities	Issuance of asset backed securities
Aptorum Innovations Holding Limited [Member]
Incorporation date	Apr. 15, 2019
Ownership	100.00%
Place of incorporation	Cayman Islands
Principle activities	Investment holding company
Aptorum Innovations Holding Pte. Ltd. [Member]
Incorporation date	Jun. 05, 2019
Ownership	100.00%
Place of incorporation	Singapore
Principle activities	Research and development of life science and biopharmaceutical products
Aptorum Investment Holding Limited [Member]
Incorporation date	Mar. 29, 2019
Ownership	100.00%
Place of incorporation	Cayman Islands
Principle activities	Investment holding company

Organization (Details Textual) - IPO [Member] - USD ($)	1 Months Ended
Organization (Details Textual) - IPO [Member] - USD ($)	Dec. 17, 2018	Dec. 31, 2019	Dec. 31, 2018
Organization (Textual)
Initial public offering, description	The Group completed an initial public offering (the "IPO" or "Offering") with new issuance of 761,419 ordinary shares at $15.80 for total offering size of approximately $12.0 million before deducting commissions and expenses. The net proceeds from the IPO was approximately $10.3 million, net off underwriting discount of approximately $1.2 million and offering costs of approximately $0.5 million.
Deferred offering costs
Offering costs charged to additional paid in capital	$ 1,732,370	$ 1,732,229

- Definition

Specific incremental costs directly attributable to a proposed or actual offering of securities which are deferred at the end of the reporting period.

+ References + Details

- Definition

Description of stock transaction which may include details of the offering (IPO, private placement), a description of the stock sold, percentage of subsidiary's or equity investee's stock sold, a description of the investors and whether the stock was issued in a business combination.

+ References + Details

Liquidity (Details) - USD ($)	10 Months Ended	12 Months Ended
Liquidity (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018
Liquidity (Textual)
Net loss	$ (2,561,507)	$ (20,116,938)	$ (15,134,485)
Accumulated deficit		(37,555,980)	(17,379,185)
Net operation cash outflow	$ (5,782,695)	(13,382,633)	$ (10,035,531)
Unrestricted cash		6,300,000
Working capital		5,358,206
Line of Credit [Member]
Liquidity (Textual)
Related parties		$ 12,400,000

- Definition

For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.

+ References + Details

- Definition

Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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-Name Accounting Standards Codification
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+ Details

- Definition

The cumulative amount of the reporting entity's undistributed earnings or deficit.

+ References + Details

Summary of Significant Accounting Policies (Details)	12 Months Ended
Summary of Significant Accounting Policies (Details)	Dec. 31, 2019
Building [Member]
Estimated useful lives	29 years
Computer equipment [Member]
Estimated useful lives	3 years
Furniture, fixture, and office and medical equipment [Member]
Estimated useful lives	5 years
Leasehold improvements [Member]
Leasehold improvements, estimated useful lives	Shorter of the remaining lease terms or 5 years
Laboratory equipment [Member]
Estimated useful lives	5 years
Motor vehicle [Member]
Estimated useful lives	5 years

- Definition

Describes the periods of time over which an entity anticipates to receive utility from its property, plant and equipment (that is, the periods of time over which an entity allocates the initial cost of its property, plant and equipment).

+ References + Details

Summary of Significant Accounting Policies (Details 1)	12 Months Ended
Summary of Significant Accounting Policies (Details 1)	Dec. 31, 2019 USD ($)
Accumulated deficit
December 31, 2018	$ (17,379,185)
Adjustment due to ASU 2016-01	(1,490,033)
January 1, 2019	(18,869,218)
Accumulated other comprehensive loss
December 31, 2018	(1,484,688)
Adjustment due to ASU 2016-01	1,490,033
January 1, 2019	$ 5,345

Summary of Significant Accounting Policies (Details Textual) - USD ($)	1 Months Ended		10 Months Ended	12 Months Ended
	Apr. 24, 2019	Apr. 24, 2019	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2020
Summary of Significant Accounting Policies (Textual)
Gains from the marketable securities			$ 3,912,500	$ (81,839)	$ 501,522
Available-for-sale securities sales proceeds				999,110	637,582
Recognized a gain on sale of securities				538,425	501,522
Unrealized gain on the investments in derivatives amounted				87,599
Unrealized loss on the investments in derivatives amounted			827,501		974,444
Trading securities and available-for-sale securities, sales proceeds			15,738,517
Trading securities and available-for-sale securities, received			310,550
Trading securities and available-for-sale securities, recognized gain			3,917,046
Trading securities and available-for-sale securities, recognized loss			4,546
Group disposed of warrants with proceeds			4,957
Amortization expenses				59,834	59,833
Convertible debts with carrying amount	$ 13,500,000	$ 13,500,000
Gain on extinguishment on convertible debts	1,200,000	1,200,000		1,198,490
Intrinsic value	1,300,000	1,300,000		$ 1,300,000
Group repurchased its convertible debts	$ 13,600,000	$ 13,600,000
Operating losses are available to be carried forward				5 years
Measure the tax benefit				50.00%
Subsequent Event [Member]
Summary of Significant Accounting Policies (Textual)
Operating lease right-of-use assets						$ 959,641
Operating lease liabilities						$ 982,288
Computer software [Member] \| Minimum [Member]
Summary of Significant Accounting Policies (Textual)
useful life intangible assets				17 years
Computer software [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Textual)
useful life intangible assets				20 years

Fair Value Measurement (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Jun. 14, 2017
Assets Investments in securities
Total assets at fair value	$ 1,266,431	$ 1,130,059	$ 7,920,000
Common stocks [Member]
Assets Investments in securities
Total assets at fair value	1,063,111	1,014,338
Warrants [Member]
Assets Investments in securities
Total assets at fair value	203,320	115,721
Level 1 [Member]
Assets Investments in securities
Total assets at fair value	806,778	813,728	$ 7,920,000
Level 1 [Member] \| Common stocks [Member]
Assets Investments in securities
Total assets at fair value	806,778	813,728
Level 1 [Member] \| Warrants [Member]
Assets Investments in securities
Total assets at fair value
Level 2 [Member]
Assets Investments in securities
Total assets at fair value	256,333	200,610
Level 2 [Member] \| Common stocks [Member]
Assets Investments in securities
Total assets at fair value	256,333	200,610
Level 2 [Member] \| Warrants [Member]
Assets Investments in securities
Total assets at fair value
Level 3 [Member]
Assets Investments in securities
Total assets at fair value	203,320	115,721
Level 3 [Member] \| Common stocks [Member]
Assets Investments in securities
Total assets at fair value
Level 3 [Member] \| Warrants [Member]
Assets Investments in securities
Total assets at fair value	$ 203,320	$ 115,721

Fair Value Measurement (Details 1) - Level 3 [Member] - Warrants [Member] - Fair value recurring [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Beginning balance	$ 115,721	$ 1,070,940
Change in unrealized appreciation (depreciation)	87,599	(955,219)
Ending Balance	203,320	115,721
Net change in unrealized depreciation relating to investments still held at December 31, 2018	$ 87,599	$ (955,219)

Fair Value Measurement (Details 2)

10 Months Ended

Dec. 31, 2017

USD ($)

Level 3 assets [Member]

$ 4,989,490

^[1]

Transfer out of fair value leveling since recorded as cost method

(3,079,715)

^[1]

(838,835)

Net change in unrealized depreciation relating to investments still held at December 31, 2017

1,070,940

(836,530)

Level 3 assets [Member] | February 28, 2017 [Member]

17,982,135

Transfer out of Level 3 due to change in status - consolidated subsidiary

(757,647)

^[2]

Transfer out of fair value leveling since recorded as cost method

(12,234,998)

^[3]

Convertible notes [Member]

3,082,020

(3,079,715)

^[1]

Transfer out of fair value leveling since recorded as cost method

^[1]

(2,305)

Net change in unrealized depreciation relating to investments still held at December 31, 2017

Convertible notes [Member] | February 28, 2017 [Member]

3,082,020

Transfer out of Level 3 due to change in status - consolidated subsidiary

^[2]

Transfer out of fair value leveling since recorded as cost method

3,082,020

^[3]

Common Stock

^[1]

Transfer out of fair value leveling since recorded as cost method

^[1]

Net change in unrealized depreciation relating to investments still held at December 31, 2017

Common Stock | February 28, 2017 [Member]

7,920,000

Transfer out of Level 3 due to change in status - consolidated subsidiary

^[2]

Transfer out of fair value leveling since recorded as cost method

(7,920,000)

^[3]

Preferred Stock

3,079,715

^[1]

Transfer out of fair value leveling since recorded as cost method

(3,079,715)

^[1]

Net change in unrealized depreciation relating to investments still held at December 31, 2017

Preferred Stock | February 28, 2017 [Member]

4,314,998

Transfer out of Level 3 due to change in status - consolidated subsidiary

^[2]

Transfer out of fair value leveling since recorded as cost method

(4,314,998)

^[3]

Warrants [Member]

1,907,470

^[1]

Transfer out of fair value leveling since recorded as cost method

^[1]

(836,530)

Net change in unrealized depreciation relating to investments still held at December 31, 2017

1,070,940

(836,530)

Warrants [Member] | February 28, 2017 [Member]

1,907,470

Transfer out of Level 3 due to change in status - consolidated subsidiary

^[2]

Transfer out of fair value leveling since recorded as cost method

1,907,470

^[3]

Aptorum Therapeutics - related party [Member]

^[1]

Transfer out of fair value leveling since recorded as cost method

^[1]

Net change in unrealized depreciation relating to investments still held at December 31, 2017

Aptorum Therapeutics - related party [Member] | February 28, 2017 [Member]