0001213900-20-024906 | 6-K | XBRL Viewer

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Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	Aptorum Group Ltd
Entity Central Index Key	0001734005
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	6-K
Document Period End Date	Jun. 30, 2020
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash	$ 4,019,324	$ 5,189,003
Restricted cash	104,170	104,170
Digital currencies	1,539	1,539
Accounts receivable	41,696	40,543
Inventories	34,318	34,185
Marketable securities, at fair value	303,049	1,063,111
Investments in derivatives	102,087	203,320
Amounts due from related parties		962
Due from brokers	160,334	317,005
Other receivables and prepayments	1,361,502	1,079,043
Total current assets	6,128,019	8,032,881
Property, plant and equipment, net	6,140,602	7,093,035
Operating lease right-of-use assets	705,890
Non-marketable investments	8,748,119	7,112,180
Intangible assets, net	1,220,650	1,311,683
Amounts due from related parties		50,000
Long-term deposits	335,878	294,606
Other non-current asset	29,917	59,833
Total Assets	23,309,075	23,954,218
Current liabilities:
Amounts due to related parties	112,013	41,593
Accounts payable and accrued expenses	2,500,566	2,586,527
Finance lease liabilities, current	47,954	46,555
Operating lease liabilities, current	419,875
Total current liabilities	3,080,408	2,674,675
Finance lease liabilities, non-current	72,986	97,319
Operating lease liabilities, non-current	319,938
Loan payables to related parties	2,313,358	6,330,472
Total Liabilities	5,786,690	9,102,466
Commitments and contingencies
EQUITY
Class A Ordinary Shares ($1.00 par value; 60,000,000 shares authorized, 7,950,986 shares issued and outstanding at June 30, 2020 and 6,597,362 shares issued and outstanding at December 31, 2019, respectively)	7,950,986	6,597,362
Class B Ordinary Shares ($1.00 par value; 40,000,000 shares authorized, 22,437,754 shares issued and outstanding as at June 30, 2020 and December 31, 2019)	22,437,754	22,437,754
Additional paid-in capital	33,184,104	24,887,624
Accumulated other comprehensive income (loss)	25,618	(5,552)
Accumulated deficit	(43,760,545)	(37,555,980)
Total equity attributable to the shareholders of Aptorum Group Limited	19,837,917	16,361,208
Non-controlling interests	(2,315,532)	(1,509,456)
Total equity	17,522,385	14,851,752
Total Liabilities and Equity	$ 23,309,075	$ 23,954,218

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Class A Ordinary Shares
Common stock, par value	$ 1.00	$ 1.00
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	7,950,986	6,597,362
Common stock, shares outstanding	7,950,986	6,597,362
Class B Ordinary Shares
Common stock, par value	$ 1.00	$ 1.00
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	22,437,754	22,437,754
Common stock, shares outstanding	22,437,754	22,437,754

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Revenue
Healthcare services income	$ 327,273	$ 239,792
Operating expenses
Costs of healthcare services	(436,171)	(371,218)
Research and development expenses	(4,315,033)	(2,714,217)
General and administrative fees	(2,076,634)	(3,232,916)
Legal and professional fees	(1,540,304)	(2,008,774)
Other operating expenses	(641,457)	(120,788)
Total operating expenses	(9,009,599)	(8,447,913)
Other income (loss)
Gain on investments in marketable securities, net	192,134	315,977
Gain on non-marketable investment	1,635,939	1,147,199
(Loss) gain on investments in derivatives, net	(101,233)	310,195
Gain on use of digital currencies		12,334
Changes in fair value of warrant liabilities		(866,300)
Gain on extinguishment of convertible debts		1,198,490
Interest expense, net	(144,226)	(3,678,566)
Sundry income	111,398	128,444
Total other income (loss), net	1,694,012	(1,432,227)
Net loss	(6,988,314)	(9,640,348)
Less: net loss attributable to non-controlling interests	(783,749)	(551,877)
Net loss attributable to Aptorum Group Limited	$ (6,204,565)	$ (9,088,471)
Net loss per share - basic and diluted	$ (0.21)	$ (0.31)
Weighted-average shares outstanding - basic and diluted	29,956,393	28,978,151
Net loss	$ (6,988,314)	$ (9,640,348)
Other Comprehensive income (loss)
Exchange differences on translation of foreign operations	31,170	2,000
Other Comprehensive income	31,170	2,000
Comprehensive loss	(6,957,144)	(9,638,348)
Less: comprehensive loss attributable to non-controlling interests	(783,751)	(551,877)
Comprehensive loss attributable to the shareholders of Aptorum Group Limited	$ (6,173,393)	$ (9,086,471)

Condensed Consolidated Statements of Changes in Equity - USD ($)	Class A Ordinary Shares	Class B Ordinary Shares	Additional Paid-in Capital	Accumulated deficit	Accumulated other comprehensive income (loss)	Non-controlling interests	Total
Balance at Dec. 31, 2018	$ 6,537,269	$ 22,437,754	$ 23,003,285	$ (17,379,185)	$ (1,484,688)	$ (368,533)	$ 32,745,902
Balance, Shares at Dec. 31, 2018	6,537,269	22,437,754
Adjustment to opening balance of equity				(1,490,033)	1,490,033
Balance, January 1, 2019	$ 6,537,269	$ 22,437,754	23,003,285	(18,869,218)	5,345	(368,533)	32,745,902
Balance, January 1, 2019, share	6,537,269	22,437,754
Issuance of share to non-controlling interest			(112)			112
Reacquisition of convertible bonds			(1,298,490)				(1,298,490)
Share-based compensation			593,806				593,806
Exercise of warrants	$ 60,093		1,559,325				1,619,418
Exercise of warrants, shares	60,093
Exchange difference on translation of foreign operations					2,000		2,000
Net loss				(9,088,471)		(551,877)	(9,640,348)
Balance at Jun. 30, 2019	$ 6,597,362	$ 22,437,754	23,857,814	(27,957,689)	7,345	(920,298)	24,022,288
Balance, Shares at Jun. 30, 2019	6,597,362	22,437,754
Balance at Dec. 31, 2019	$ 6,597,362	$ 22,437,754	24,887,624	(37,555,980)	(5,552)	(1,509,456)	14,851,752
Balance, Shares at Dec. 31, 2019	6,597,362	22,437,754
Issuance of Class A Ordinary Shares and warrants, net of issuance cost	$ 1,351,350		7,662,977				9,014,327
Issuance of Class A Ordinary Shares and warrants, net of issuance cost, shares	1,351,350
Issuance of share to non-controlling interest			22,325			(22,325)
Share-based compensation			584,094				584,094
Exercise of share options	$ 2,274		27,084				29,358
Exercise of share options, shares	2,274
Exchange difference on translation of foreign operations					31,170	(2)	31,168
Net loss				(6,204,565)		(783,749)	(6,988,314)
Balance at Jun. 30, 2020	$ 7,950,986	$ 22,437,754	$ 33,184,104	$ (43,760,545)	$ 25,618	$ (2,315,532)	$ 17,522,385
Balance, Shares at Jun. 30, 2020	7,950,986	22,437,754

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net loss	$ (6,988,314)	$ (9,640,348)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization and depreciation	702,633	585,701
Share-based compensation	584,094	593,806
Gain on investments in marketable securities, net	(192,134)	(315,977)
Gain on non-marketable investment	(1,635,939)	(1,147,199)
Loss (gain) on investments in derivatives, net	101,233	(310,195)
Changes in fair value of warrant liabilities		866,300
Realized gain on use of digital currencies		(12,334)
Utilization of digital currencies		94,852
Gain on extinguishment of convertible debts		(1,198,490)
Loss on disposal of property, plant and equipment	62,705
Impairment loss of property, plant and equipment	330,445
Settlement of service fee by tokens	12,000
Operating lease cost	288,057
Interest income	(643)	(61,791)
Interest expense and accretion of convertible debts	140,879	3,735,027
Accretion of finance lease liabilities	3,990	5,309
Changes in operating assets and liabilities:
Accounts receivable	(1,153)	(5,540)
Inventories	(133)	(3,269)
Other receivables and prepayments	(332,750)	(386,069)
Long-term deposits	(11,584)	55,429
Due from brokers	156,671	709,834
Amounts due from related parties	50,962	169,051
Amounts due to related parties	2,852	(29,905)
Accounts payable and accrued expenses	(29,382)	(1,039,201)
Operating lease liabilities	(270,434)
Net cash used in operating activities	(7,025,945)	(7,335,009)
Cash flows from investing activities
Disbursement of a loan to a third party		(1,400,000)
Repayment of a loan from a third party		828,025
Purchases of intangible assets		(10,743)
Purchases of property, plant and equipment	(53,555)	(686,798)
Proceeds from sale of marketable securities	952,196	790,950
Purchase of digital currencies		(200,000)
Net cash provided by (used in) investing activities	898,641	(678,566)
Cash flows from financing activities
Payment for settlement of convertible debts		(13,600,000)
Payment of finance lease obligations	(26,924)	(26,922)
Loan from a related party	500,000
Repayment of loan from related parties	(4,529,778)
Proceeds from issuance of Class A Ordinary Shares and warrants, net of placement agent and other fees	9,229,995
Payments for issuance costs	(215,668)
Net cash provided by (used in) financing activities	4,957,625	(13,626,922)
Net decrease in cash and restricted cash	(1,169,679)	(21,640,497)
Cash and restricted cash- Beginning of period	5,293,173	26,107,238
Cash and restricted cash - End of period	4,123,494	4,466,741
Supplemental disclosures of cash flow information
Interest paid	73,220	557,333
Income taxes paid
Reconciliation of cash and restricted cash
Cash	4,019,324	4,466,741
Restricted cash	104,170
Total cash and restricted cash shown on the condensed consolidated statements of cash flows	$ 4,123,494	$ 4,466,741

Organization

6 Months Ended

Jun. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

ORGANIZATION

1. ORGANIZATION

The condensed consolidated financial statements include the financial statements of Aptorum Group Limited (the "Company") and its subsidiaries. The Company and its subsidiaries are hereinafter collectively referred to as the "Group".

The Company, formerly known as APTUS Holdings Limited and STRIKER ASIA OPPORTUNITIES FUND CORPORATION, is a company incorporated on September 13, 2010 under the laws of the Cayman Islands with limited liability.

The Company researches and develops life science and biopharmaceutical products within its wholly-owned subsidiary, Aptorum Therapeutics Limited, formerly known as APTUS Therapeutics Limited ("Aptorum Therapeutics") and its indirect subsidiary companies (collectively, "Aptorum Therapeutics Group").

Liquidity

6 Months Ended

Jun. 30, 2020

Private Placing Memorandum [Abstarct]

LIQUIDITY

2. LIQUIDITY

The Company reported a net loss of $6,988,314 and net operating cash outflow of $7,025,945 for the six months ended June 30, 2020. In addition, the Company had an accumulated deficit of $43,760,545 as of June 30, 2020. The Company's operating results for future periods are subject to numerous uncertainties and it is uncertain if the Company will be able to reduce or eliminate its net losses for the foreseeable future. If management is not able to generate significant revenues from its product candidates currently in development, the Company may not be able to achieve profitability.

The Company's principal sources of liquidity have been cash, marketable securities and line of credit facility from related parties. As of the date of issuance of the condensed consolidated financial statements, the Company has approximately $2 million of restricted and unrestricted cash and approximately $12 million of undrawn line of credit facility from related parties. Based upon the current market price of the Company's marketable securities, it anticipates it can liquidate such marketable securities, if necessary. In addition, the Company will need to maintain its operating costs at a level through strictly cost control and budget to ensure operating costs will not exceed such aforementioned sources of funds in order to continue as a going concern for a period within one year after the issuance of its condensed consolidated financial statements.

The Company believes that available cash, together with the efforts from aforementioned management plan and actions, should enable the Company to meet current anticipated cash needs for at least the next 12 months after the date that the financial statements are issued and the Company has prepared the condensed consolidated financial statements on a going concern basis. However, the Company continues to have ongoing obligations and it expects that it will require additional capital in order to execute its longer-term development plan. If the Company encounters unforeseen circumstances that place constraints on its capital resources, management will be required to take various measures to conserve liquidity, which could include, but not necessarily be limited to, deferring some of its research, seeking to dispose marketable securities and drawing down from line of credit provided by related parties. Management cannot provide any assurance that the Company will raise additional capital if needed.

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of consolidation

The condensed consolidated financial statements of the Group are presented on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and include the accounts of the Company, its direct and indirect wholly and majority owned subsidiaries. All material intercompany balances and transactions have been eliminated in preparation of the condensed consolidated financial statements. Non-controlling interests represent the equity interests that are not attributable to the Group.

Use of estimates

The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as income and expenses during the reporting period. Significant accounting estimates reflected in the Group's condensed consolidated financial statements include valuation equity securities, fair value of investments in securities, finance lease, warrants and share options, the useful lives of intangible assets and property, plant and equipment, impairment of long-lived assets, valuation allowance for deferred tax assets, and collectability of receivables. Actual results could differ from those estimates.

Marketable securities

Marketable securities are publicly traded stocks measured at fair value and classified within Level 1 and 2 in the fair value hierarchy because the Group uses quoted prices for identical assets in active markets or inputs that are based upon quoted prices for similar instruments in active markets.

Gain on investments in marketable securities, net, amounting to $192,134 and $315,977, respectively, were recognized in the condensed consolidated statements of operations for the six months ended June 30, 2020 and 2019.

During the six months ended June 30, 2020 and 2019, the Group disposed marketable securities, with sales proceeds of $952,196 and $790,950, respectively, received and recorded in due from brokers, and recognized a realized gain of $452,197 and $627,014, respectively, in the condensed consolidated statements of operations.

Investments in derivatives

Investments in derivatives consisted of warrants, which are measured at fair value, with gains or losses from changes in fair value recorded through earnings. The fair values of these warrants have been determined using the Black-Scholes pricing mode. The Black-Scholes pricing model provides for assumptions regarding volatility, call and put features and risk-free interest rates within the total period to maturity.

No disposal was recorded during the six months ended June 30, 2020 and 2019. Unrealized loss on the investments in derivatives amounted to $101,233 was recognized in the condensed consolidated statements of operations for the six months ended June 30, 2020. Unrealized gain on the investments in derivatives amounted to $310,195 was recognized in the condensed consolidated statements of operations for the six months ended June 30, 2019.

Non-marketable investments

Non-marketable investments are comprising of investments in non-redeemable preferred shares of privately-held companies that are not required to be consolidated under the variable interest or voting models. Non-marketable investments are classified as non-current assets on the condensed consolidated balance sheets as those investments do not have stated contractual maturity dates.

The non-marketable equity securities not accounted for under the equity method are measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. Adjustments are determined primarily based on a market approach as of the transaction date.

Operating leases

Prior to the adoption of Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842) and subsequent amendments to the initial guidance including ASU No. 2017-13, ASU No. 2018-10, ASU No. 2018-11, ASU No. 2018-20, and ASU No. 2019-01 (collectively, "Topic 842"), operating leases were not recognized on the condensed consolidated balance sheets, instead, rental expenses with fixed payments were recognized on a straight-line basis over the lease term.

Effective January 1, 2020, the Group adopted Topic 842 using a modified retrospective transition approach for leases that exist at, or are entered into after January 1, 2020, and has not recast the comparative periods presented in the condensed consolidated financial statements. At the inception of a contract, the Group determines if the arrangement is, or contains, a lease. Operating lease liabilities are recognized at lease commencement based on the present value of lease payments over the lease term. Operating lease right-of-use assets are initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred and less any lease incentives received. As the rate implicit in the lease cannot be readily determined, the Group uses incremental borrowing rate at the lease commencement date in determining the imputed interest and present value of lease payments. The incremental borrowing rate is determined based on the rate of interest that the Group would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term in a similar economic environment. The lease term for all of the Group's leases includes the non-cancellable period of the lease plus any additional periods covered by either a Group's option to extend (or not to terminate) the lease that the Group is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. For operating leases, the Group recognizes a single lease cost on a straight-line basis over the remaining lease term.

The Company has elected not to recognize right-of-use assets or lease liabilities for leases with an initial term of 12 months or less and the Company recognizes lease expense for these leases on a straight-line basis over the lease terms.

Revenue recognition

Revenue is recognized when (or as) the Company satisfies performance obligations by transferring a promised goods or services to a customer. Revenue is measured at the transaction price which is based on the amount of consideration that the Company expects to receive in exchange for transferring the promised goods or services to the customer. Contracts with customers are comprised of invoices and written contracts. Revenue from healthcare services is measured upon the provision of the relevant services.

Recently adopted accounting pronouncements

In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-02, Leases ("ASU 2016-02"), which requires a lessee to recognize a right-of-use asset and a lease liability for operating leases, initially measured at the present value of the future lease payments, in the balance sheet. ASU 2016-02 also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, generally on a straight-line basis. Upon the adoption effective on January 1, 2020, the Group recognized operating lease right-of-use assets of $959,641, and operating lease liabilities of $982,288 in the condensed consolidated financial statements.

In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), Derivatives and Hedging (Topic 815). ASU 2017-11 no longer requires the Group to consider down round features when determining whether its warrant and embedded conversion option is indexed to its own stock. The Group adopted this standard effective January 1, 2020. The adoption does not have a material effect on the Group's financial statements.

In August 2018, the FASB issued ASU 2018-13, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement, which amends ASC 820, Fair Value Measurement. This ASU modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The Group adopted this standard effective January 1, 2020. The removed and modified disclosures are adopted on a retrospective basis and the new disclosures are adopted on a prospective basis. The adoption does not have a material effect on the Group's financial statements.

Recently issued accounting standards which have not yet been adopted

In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses ("ASU 2016-13"). Subsequently, the FASB issued ASU 2019-05, Financial Instruments- Credit Losses (Topic 326): Targeted Transition Relief. The amendments in ASU 2016-13 update guidance on reporting credit losses for financial assets. These amendments affect loans, debt securities, accounts receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The amendments are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company is currently evaluating the impact on its financial statements of adopting this guidance.

Revenue

6 Months Ended

Jun. 30, 2020

Deferred Revenue Disclosure [Abstract]

REVENUE

4. REVENUE

The Company adopted ASC 606 using the modified retrospective method as applied to customer contracts that were not completed as of January 1, 2019.

For the six months ended June 30, 2020 and 2019, all revenue came from provision of healthcare services in Hong Kong.

Fair Value Measurement

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENT

5. FAIR VALUE MEASUREMENT

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of June 30, 2020 and December 31, 2019:

June 30, 2020 (Unaudited)	Level 1		Level 2		Level 3		Total
Current Assets
Marketable securities
Common stocks	$	95,754	$	207,295	$	-	$	303,049
Investments in derivatives
Warrants		-		-		102,087		102,087
Total assets at fair value	$	95,754	$	207,295	$	102,087	$	405,136

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

The following is a reconciliation of Level 3 assets for the six months ended June 30, 2020:

	Warrants
Balance at January 1, 2020	$	203,320
Change in unrealized depreciation		(101,233	)
Balance at June 30, 2020 (Unaudited)	$	102,087
Net change in unrealized depreciation relating to investments still held at June 30, 2020		(101,233	)

The following is a reconciliation of Level 3 assets for the six months ended June 30, 2019

	Warrants
Balance at January 1, 2019	$	115,721
Change in unrealized appreciation		310,195
Balance at June 30, 2019 (Unaudited)	$	425,916
Net change in unrealized appreciation relating to investments still held at June 30, 2019		310,195

The following table presents the quantitative information about the Group's Level 3 fair value measurements of investment as of June 30, 2020 and December 31, 2019, which utilized significant unobservable internally-developed inputs:

June 30,
2020 (Unaudited)

Valuation
technique

Unobservable input

Range

(weighted average)

Sensitivity of fair

value to input

Warrants

Black-Scholes Model

Estimated time to exit Historical Volatility

6-12 months 73% - 277%

10% increase (decrease) in volatility would result in increase (decrease) in fair value by $20,428

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

Warrants

As of June 30, 2020 and December 31, 2019, the volume of the Group's derivative activities based on their notional amount and number of contracts, categorized by primary underlying risk, are as follows:

Long Exposure

June 30, 2020 (Unaudited)

December 31, 2019

Primary underlying risk

Notional
Amounts

Number of
Warrants

Notional
Amounts

Number of
Warrants

Equity Price

Warrants

214,141

2,234,373

265,576

2,234,373

The following table identifies the fair value amounts of derivative instruments included in the condensed consolidated balance sheets as derivative contracts, categorized by primary underlying risk, as of June 30, 2020 and December 31, 2019.

	June 30, 2020 (Unaudited)				December 31, 2019
Primary underlying risk	Derivative assets		Derivative liabilities		Derivative assets		Derivative liabilities
Equity Price
Warrants	$	102,087	$	-	$	203,320	$	-

The following table identifies the net gain and loss amounts included in the condensed consolidated statement of operations as gain (loss) on investment in derivatives, net, categorized by primary underlying risk, for the six months ended June 30, 2020 and 2019:

	For the six months ended June 30,
	2020					2019
	(Unaudited)					(Unaudited)
Primary underlying risk		Realized gain (loss)		Unrealized gain (loss)			Realized gain (loss)		Unrealized gain (loss)
Equity Price
Warrants	$	-	$	(101,233	)	$	-	$	310,195

Non-marketable equity securities remeasured during the six months ended June 30, 2020 are classified within Level 3 in the fair value hierarchy because the Group estimated the value based on valuation methods using the observable transaction price at the transaction date and other unobservable inputs including volatility, rights, and obligations of the securities we hold.

The following is a summary of unrealized gain recorded in other income (expense), net, and included as adjustments to the carrying value of non-marketable investments held as of June 30, 2020. No impairment loss was recorded for the six months ended June 30, 2020.

	For the six months ended June 30, 2020
	(Unaudited)
Upward adjustments	$	1,635,939
Total unrealized gain for non-marketable investments	$	1,635,939

The following table summarizes the total carrying value of non-marketable investments held as of June 30, 2020 and December 31, 2019, including cumulative unrealized upward and downward adjustments made to the initial cost basis of the investments:

	June 30, 2020		December 31, 2019
	(Unaudited)
Initial cost basis	$	6,094,712	$	6,094,712
Upward adjustments		2,653,407		1,017,468
Downward adjustments (including impairment)		-		-
Total carrying value at the end of the period	$	8,748,119	$	7,112,180

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Other Receivables and Prepayments

6 Months Ended

Jun. 30, 2020

Receivables [Abstract]

OTHER RECEIVABLES AND PREPAYMENTS

6. OTHER RECEIVABLES AND PREPAYMENTS

Other receivables and prepayments as of June 30, 2020 and December 31, 2019 consisted of:

	June 30, 2020		December 31, 2019
	(Unaudited)
Prepaid insurance	$	206,082	$	154,011
Prepaid service fee		239,991		296,565
Rental deposits		10,508		8,584
Prepaid rental expenses		12,036		37,169
Prepaid research and development expenses		779,605		453,634
Other receivables		88,073		109,714
Others		25,207		19,366
	$	1,361,502	$	1,079,043

As of June 30, 2020 and December 31, 2019, the balance included $96,000 and $108,000 prepayment to Aenco Solutions Limited, a related party controlled by Ian Huen, the Chief Executive Officer and Executive Director of the Group, for tokens consultancy services respectively (see note 11).

Property, Plant and Equipment, Net

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

7. PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment as of June 30, 2020 and December 31, 2019 consisted of:

	June 30, 2020		December 31, 2019
	(Unaudited)
Building	$	1,488,396	$	1,488,396
Computer equipment		77,444		76,365
Furniture, fixture, and office and medical equipment		262,239		271,009
Leasehold improvements		459,327		665,546
Laboratory equipment		4,030,341		4,029,640
Motor vehicle under finance leases		239,093		239,093
Assets in construction		1,899,169		1,899,169
		8,456,009		8,669,218
Less: accumulated depreciation		1,984,962		1,576,183
		6,471,047		7,093,035
Less: accumulated impairment		330,445		-
Property, plant and equipment, net	$	6,140,602	$	7,093,035

Depreciation expenses for property, plant and equipment amounted to $583,104 and $482,925 for the six months ended June 30, 2020 and 2019, respectively.

During the six months ended June 30, 2020, the Group recorded $330,445 of impairment loss of buildings in other operating expenses due to the management assessed that its carrying amount may not be recoverable.

As a result of the relocation of office, the Group disposed certain leasehold improvement and furniture, fixture, and office equipment in the old office and incurred a disposal loss of $62,705 in other operating expenses for the six months ended June 30, 2020.

Long-Term Deposits

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

LONG-TERM DEPOSITS

8. LONG-TERM DEPOSITS

Long-term deposits as of June 30, 2020 and December 31, 2019 consisted of:

	June 30, 2020		December 31, 2019
	(Unaudited)
Rental deposits	$	159,140	$	132,043
Prepayments for equipment		176,738		162,563
	$	335,878	$	294,606

Accounts Payable and Accrued Expenses

6 Months Ended

Jun. 30, 2020

Accounts Payable and Accrued Liabilities, Current [Abstract]

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

9. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses as of June 30, 2020 and December 31, 2019 consisted of:

	June 30, 2020		December 31, 2019
	(Unaudited)
Research and development expenses payable	$	307,270	$	554,791
Cost of healthcare services payable		83,469		45,234
Professional fees payable		259,474		171,037
Insurance expense payable		-		70,811
Payables for leasehold improvement and equipment		30,066		26,779
Deferred bonus and salaries payable		1,773,283		1,570,324
Deferred rent		-		55,484
Others		47,004		92,067
	$	2,500,566	$	2,586,527

Income Taxes

6 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

INCOME TAXES

10. 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. All the Hong Kong subsidiaries that are not entitled to any tax holiday were subject to income tax at a rate of 16.5%. The subsidiaries of the Group in Hong Kong did not have assessable profits that were derived Hong Kong during the six months ended June 30, 2020 and 2019. 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 the 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 of the Group in the United Kingdom did not have assessable profits that were derived from the United Kingdom during the six months ended June 30, 2020 and 2019. 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 six months ended June 30, 2020 and 2019. 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 six months ended June 30, 2020 and 2019. 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 six months ended June 30, 2020 and 2019. 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 six months ended June 30, 2020 and 2019. Therefore, no United States profit tax has been provided for in the periods presented.

On a semi-annually basis, the Group evaluates the realizability of deferred tax assets by jurisdiction and assesses the need for a valuation allowance. In assessing the realizability of deferred tax assets, the Group considers historical profitability, evaluation of scheduled reversals of deferred tax liabilities, projected future taxable income and tax-planning strategies. Valuation allowances have been provided on deferred tax assets where, based on all available evidence, it was considered more likely than not that some portion or all of the recorded deferred tax assets will not be realized in future periods. After consideration of all positive and negative evidence, the Group believes that as of June 30, 2020, it is more likely than not the deferred tax assets will not be realized.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Related Party Balances and Transactions

6 Months Ended

Jun. 30, 2020

RELATED PARTY BALANCES AND TRANSACTIONS

11. 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 Group Limited, an entity controlled by Ian Huen;
(d)	Aeneas Management Limited, an entity controlled by Ian Huen;
(e)	Aenco Solutions Limited, an entity controlled by Ian Huen;
(f)	Aenco Limited, an entity controlled by Ian Huen;
(g)	Aeneas Technology (Hong Kong) Ltd, an entity controlled by Ian Huen;
(h)	Jurchen Investment Corporation, the holding company and an entity controlled by Ian Huen;
(i)	CGY Investment Limited, an entity controlled by Darren Lui, the President and Executive Director of the Group
(j)	Clark Cheng, the Executive Director of the Group;
(k)	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 June 30, 2020 and December 31, 2019:

	June 30, 2020		December 31, 2019
Current	(Unaudited)
Aeneas Management Limited	$	-	$	962

Non-current
Jurchen Investment Corporation	$	-	$	50,000

Amounts due to related parties

Amounts due to related parties consisted of the following as of June 30, 2020 and December 31, 2019:

	June 30, 2020		December 31, 2019
Current	(Unaudited)
Aenco Solutions Limited	$	10,096	$	5,782
Aeneas Group Limited		80,383		14,247
Jurchen Investment Corporation		21,534		20,055
Ian Huen		-		127
Clark Cheng		-		1,114
Sabrina Khan		-		268
Total	$	112,013	$	41,593

Non-current
Aeneas Group Limited (Note a)	$	1,813,358	$	3,330,472
Jurchen Investment Corporation (Note a)		500,000		3,000,000
Total	$	2,313,358	$	6,330,472

Related party transactions

Related party transactions consisted of the following for the six months ended June 30, 2020 and 2019:

	For the six months ended June 30,
	2020		2019
	(Unaudited)		(Unaudited)
Loan from a related party (Note a)
- Aeneas Group Limited	$	500,000	$	-

Repayment of loan from related parties (Note a)
- Aeneas Group Limited	$	1,979,782	$	-
- Jurchen Investment Corporation	$	2,549,996	$	-

Interest expenses (Note a)
- Aeneas Group Limited	$	89,404	$	-
- Jurchen Investment Corporation	$	51,475	$	-

Payments on behalf of the Group (Note b)
- AENEAS CAPITAL LIMITED	$	-	$	5,057
- Aeneas Management Limited	$	-	$	5,372

Expense reimbursement (Note b)
- AENEAS CAPITAL LIMITED	$	-	$	5,057
- Aeneas Management Limited	$	-	$	5,372

Repayments from related parties (Note c)
- AENEAS CAPITAL LIMITED	$	-	$	169,051

Consultant, management and administrative fees (Note d)
- Aeneas Management Limited	$	231,795	$	347,692
- Aenco Limited	$	476,923	$	415,385
- Aeneas Technology (Hong Kong) Limited	$	247,118	$	-
- CGY Investments Limited	$	76,129	$	-

Rental expense (Note e)
- Jurchen Investment Corporation	$	96,300	$	113,572

Tokens consultancy fee (Note d)
- Aenco Solutions Limited	$	12,000	$	-

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 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. The Group may early repay, in whole or in part, the principal indebtedness and all interest accrued at any time prior to the maturity date without the prior written consent of the lender and without payment of any premium or penalty.

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

Note c: The Group had paid the expenses on behalf of AENEAS CAPITAL LIMITED, of which the whole amounts were non-interest bearing. There was no further payment on behalf transactions since April 2018. The balance was fully repaid in 2019.

Note d: Aeneas Management Limited provided certain documentation and administrative services to the Group. Aeneas Management Limited was entitled to receive a fixed amount of services fees of HKD452,000 (approximately $57,949) per calendar month with the original expiry date on December 31, 2019. The agreement was originally renewed under the same terms with a new expiry date on December 31, 2020. The agreement was terminated on April 30, 2020.

Aenco Limited provided certain information technology services to the Group. Aenco Limited was entitled to receive a fixed amount of services fees of HKD540,000 (approximately $69,231) per calendar month with the original expiry date on December 31, 2019. The agreement was originally renewed under the same terms with a new 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 Technology (Hong Kong) Limited provided research to the Group to assist the Group in computerized drug screening process of Smart-ACT^TMplatform. Aeneas Technology (Hong Kong) Limited is entitled to receive a fixed amount of research fees of HKD963,760 (approximately $123,559) per calendar month with the expiry date on October 30, 2021.

CGY Investment Limited provided certain consultancy, advisory, and management services to the Group on potential investment projects related to healthcare or R&D platforms. CGY Investment Limited is entitled to receive HK$104,000 (approximately $13,333) per calendar month. The agreement will be remained in effect until 1 month's notice in writing is given by either party.

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 consultancy and listing fees, purchasing digital currencies and settlement of maintenance service provided by Aenco Solutions Limited.

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 HKD130,000 (approximately $16,667) per calendar month. In May 2020, Jurchen Investment Corporation and the Group mutually agreed to early terminate the rental agreement and returned the office on May 31, 2020.

Note f: 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%.

Lease

6 Months Ended

Jun. 30, 2020

Lease [Abstract]

LEASE

12. LEASE

As of June 30, 2020, the Group has four non-short-term operating leases for office, laboratories and clinic with remaining terms expiring from 2020 through 2023 and a weighted average remaining lease term of 1.9 years. Weighted average discount rates used in the calculation of the operating lease liability is 8%. The discount rates reflect the estimated incremental borrowing rate, which includes an assessment of the credit rating to determine the rate that the Group would have to pay to borrow, on a collateralized basis for a similar term, an amount equal to the lease payments in a similar economic environment.

	For the six months ended June 30, 2020
	(Unaudited)
Lease cost
Finance lease cost:
Depreciation	$	23,909
Interest on lease liabilities		3,990
Operating lease cost		288,057
Short-term lease cost		31,868
Variable lease cost		-
Sublease income		-
Total lease cost	$	347,824
Other information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	270,434
Financing cash flows from finance leases		26,924
Right-of-use assets obtained in exchange for new operating lease liabilities		1,086,732
Weighted-average remaining lease term – finance leases		2.4 years
Weighted-average remaining lease term – operating leases		1.9 years
Weighted-average discount rate – finance leases		2.5	%
Weighted-average discount rate – operating leases		8.0	%

The maturity analysis of operating leases liabilities as of June 30, 2020 is as follows:

	June 30, 2020
	(Unaudited)
Remaining periods ending December 31,
2020	$	210,327
2021		458,159
2022		119,427
2023		12,286
Total future undiscounted cash flow		800,199
Less: Discount on operating lease liabilities		(60,386	)
		739,813
Less: Current portion of operating lease obligation		(419,875	)
Non-current portion of operating lease liabilities	$	319,938

Ordinary Shares

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

ORDINARY SHARES

13. ORDINARY SHARES

On June 19, 2019, the Group issued 60,093 Class A Ordinary Shares to warrant holders on a cashless basis.

On February 28, 2020, the Group entered into 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 a total of 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. At the completion of the offering, approximately $1.0 million offering costs was charged to additional paid-in capital. The warrants entitled their holders to purchase 1 Class A Ordinary Shares and are exercisable immediately as of the date of issuance at an exercise price of $7.40 per Class A Ordinary Share and expire seven years from the date of issuance. Additionally, the Group issued 43,243 warrants to placement agent on terms substantially the same as the warrants issued to investors, except that the exercise price of the warrants issued to the placement agent is $8.88. All the warrants are classified as equity in accordance with the accounting guidance for derivatives. The accounting guidance provides a scope exception from classifying and measuring as a financial liability a contract that would otherwise meet the definition of a derivative if the contract is both (i) indexed to the entity's own stock and (ii) meets the equity classifications conditions. The Group concluded these warrants should be equity-classified since they contain no provisions which would require the Group to account for the warrants as a derivative liability and therefore were initially measured at fair value in permanent equity with subsequent changes in fair value not measured.

Following the offering in February 2020 and exercise of options, there were an aggregate of 7,950,986 Class A Ordinary Shares issued and outstanding as of June 30, 2020.

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

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

SHARE BASED COMPENSATION

14. 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 with an exercise price of $12.91. On March 16, 2020, the Company granted 536,777 share options to directors, employees, external consultants and advisors of the Group with an exercise price of $2.99. On June 1, 2020, the Company granted 148,792 share options to directors and employees of the Group with an exercise price of $3.11.

A summary of the option activity as of June 30, 2020 and changes during the period is presented below:

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

Outstanding, January 1, 2020		218,222			12.91		11.51

Granted		685,569			3.02		12.02
Exercised		(2,274	)		12.91		-
Forfeited		(2,150	)		8.79		-
Outstanding, June 30, 2020		899,367			5.38		11.60
Exercisable, June 30, 2020		106,852			12.91		10.51

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 options. The aggregate intrinsic value of options outstanding as of June 30, 2020 and December 31, 2019 were approximately $0.5 million and $0.6 million respectively.

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		88.44%-96.55%
Risk-free interest rate		0.65%-2.49%
Expected term from grant date (in years)		5.25-7.29
Dividend rate		-
Dilution factor		0.9909-1
Fair value		$1.55-$10.52

In connection with the grant of share options to employees and non-employees, the Group recorded share-based compensation charges of $427,062 and $157,032 for the six months ended June 30, 2020 respectively, and $435,967 and $157,839 for the six months ended June 30, 2019 respectively.

Net Loss Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

NET LOSS PER SHARE

15. NET LOSS PER SHARE

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

	For the six months ended June 30,
	2020			2019
	(Unaudited)			(Unaudited)
Numerator:
Net loss attributable to Aptorum Group Limited	$	(6,204,565	)	$	(9,088,471	)
Denominator:
Basic and diluted weighted average shares outstanding		29,956,393			28,978,151

Basic and diluted loss per share	$	(0.21	)	$	(0.31	)

Basic loss per share is computed by dividing net loss attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised or converted into ordinary shares. Potential dilutive securities are excluded from the calculation of diluted loss per share in loss periods as their effect would be anti-dilutive.

Contingent Payment Obligations

6 Months Ended

Jun. 30, 2020

Contingent Payment Obligations [Abstract]

CONTINGENT PAYMENT OBLIGATIONS

16. CONTINGENT PAYMENT OBLIGATIONS

We have entered into agreements with independent third parties for purchasing office and laboratory equipment. As of June 30, 2020, we had non-cancellable purchase commitments of $117,745.

We have 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 we are required to pay up to different achievements of conditions and milestones for all the license agreements signed as of June 30, 2020 are as 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 six months ended June 30, 2020 and 2019, we did not incurred any milestone payments, royalties or research and development funding. As of June 30, 2020, no milestone payments had been triggered under any of the existing license agreements.

Subsequent Events

6 Months Ended

Jun. 30, 2020

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

17. SUBSEQUENT EVENTS

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

On July 20, 2020, the Group signed a sales and purchase agreement to sell its property in Fo Tan, Hong Kong, at approximately $1.1 million. The property was assigned to the buyer on September 1, 2020.

On August 10, 2020, 27,243 options were granted to a consultant, which will be vested on August 10, 2021. The exercise price is $3.64 per share, which was based on the average closing price of the shares traded on the NASDAQ stock exchange for the five trading days immediately preceding the grant date.

On August 27, 2020, the Group entered into warrant exchange agreements (the "Purchaser Exchange Agreements") with two non-affiliated purchasers to exchange their warrant of the Company for Class A Ordinary Shares of the Company (the "Purchaser Warrant Exchange"). Pursuant to the Purchaser Exchange Agreements, the Company and the Non-affiliated Purchasers agreed that in consideration for exchanging in full all of the warrants held by the Non-affiliated Purchasers, the Company would exchange one (1) Class A Ordinary Share for each one (1) Purchaser Exchange Warrant. A total of 540,540 Class A Ordinary Shares were issued to two non-affiliated purchasers in exchange for 540,540 warrants. For other warrant holders who did not participate in the Purchaser Warrant Exchange, the exercise prices of their respective warrants would be reduced to a nominal amount pursuant to the anti-dilution provisions in such warrants.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2020
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation The condensed consolidated financial statements of the Group are presented on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and include the accounts of the Company, its direct and indirect wholly and majority owned subsidiaries. All material intercompany balances and transactions have been eliminated in preparation of the condensed consolidated financial statements. Non-controlling interests represent the equity interests that are not attributable to the Group.
Use of estimates	Use of estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as income and expenses during the reporting period. Significant accounting estimates reflected in the Group's condensed consolidated financial statements include valuation equity securities, fair value of investments in securities, finance lease, warrants and share options, the useful lives of intangible assets and property, plant and equipment, impairment of long-lived assets, valuation allowance for deferred tax assets, and collectability of receivables. Actual results could differ from those estimates.
Marketable securities	Marketable securities Marketable securities are publicly traded stocks measured at fair value and classified within Level 1 and 2 in the fair value hierarchy because the Group uses quoted prices for identical assets in active markets or inputs that are based upon quoted prices for similar instruments in active markets. Gain on investments in marketable securities, net, amounting to $192,134 and $315,977, respectively, were recognized in the condensed consolidated statements of operations for the six months ended June 30, 2020 and 2019. During the six months ended June 30, 2020 and 2019, the Group disposed marketable securities, with sales proceeds of $952,196 and $790,950, respectively, received and recorded in due from brokers, and recognized a realized gain of $452,197 and $627,014, respectively, in the condensed consolidated statements of operations.
Investments in derivatives	Investments in derivatives Investments in derivatives consisted of warrants, which are measured at fair value, with gains or losses from changes in fair value recorded through earnings. The fair values of these warrants have been determined using the Black-Scholes pricing mode. The Black-Scholes pricing model provides for assumptions regarding volatility, call and put features and risk-free interest rates within the total period to maturity. No disposal was recorded during the six months ended June 30, 2020 and 2019. Unrealized loss on the investments in derivatives amounted to $101,233 was recognized in the condensed consolidated statements of operations for the six months ended June 30, 2020. Unrealized gain on the investments in derivatives amounted to $310,195 was recognized in the condensed consolidated statements of operations for the six months ended June 30, 2019.
Non-marketable investments	Non-marketable investments Non-marketable investments are comprising of investments in non-redeemable preferred shares of privately-held companies that are not required to be consolidated under the variable interest or voting models. Non-marketable investments are classified as non-current assets on the condensed consolidated balance sheets as those investments do not have stated contractual maturity dates. The non-marketable equity securities not accounted for under the equity method are measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. Adjustments are determined primarily based on a market approach as of the transaction date.
Operating leases	Operating leases Prior to the adoption of Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842) and subsequent amendments to the initial guidance including ASU No. 2017-13, ASU No. 2018-10, ASU No. 2018-11, ASU No. 2018-20, and ASU No. 2019-01 (collectively, "Topic 842"), operating leases were not recognized on the condensed consolidated balance sheets, instead, rental expenses with fixed payments were recognized on a straight-line basis over the lease term. Effective January 1, 2020, the Group adopted Topic 842 using a modified retrospective transition approach for leases that exist at, or are entered into after January 1, 2020, and has not recast the comparative periods presented in the condensed consolidated financial statements. At the inception of a contract, the Group determines if the arrangement is, or contains, a lease. Operating lease liabilities are recognized at lease commencement based on the present value of lease payments over the lease term. Operating lease right-of-use assets are initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred and less any lease incentives received. As the rate implicit in the lease cannot be readily determined, the Group uses incremental borrowing rate at the lease commencement date in determining the imputed interest and present value of lease payments. The incremental borrowing rate is determined based on the rate of interest that the Group would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term in a similar economic environment. The lease term for all of the Group's leases includes the non-cancellable period of the lease plus any additional periods covered by either a Group's option to extend (or not to terminate) the lease that the Group is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. For operating leases, the Group recognizes a single lease cost on a straight-line basis over the remaining lease term. The Company has elected not to recognize right-of-use assets or lease liabilities for leases with an initial term of 12 months or less and the Company recognizes lease expense for these leases on a straight-line basis over the lease terms.
Revenue recognition	Revenue recognition Revenue is recognized when (or as) the Company satisfies performance obligations by transferring a promised goods or services to a customer. Revenue is measured at the transaction price which is based on the amount of consideration that the Company expects to receive in exchange for transferring the promised goods or services to the customer. Contracts with customers are comprised of invoices and written contracts. Revenue from healthcare services is measured upon the provision of the relevant services.
Recently adopted accounting pronouncements	Recently adopted accounting pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-02, Leases ("ASU 2016-02"), which requires a lessee to recognize a right-of-use asset and a lease liability for operating leases, initially measured at the present value of the future lease payments, in the balance sheet. ASU 2016-02 also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, generally on a straight-line basis. Upon the adoption effective on January 1, 2020, the Group recognized operating lease right-of-use assets of $959,641, and operating lease liabilities of $982,288 in the condensed consolidated financial statements. In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), Derivatives and Hedging (Topic 815). ASU 2017-11 no longer requires the Group to consider down round features when determining whether its warrant and embedded conversion option is indexed to its own stock. The Group adopted this standard effective January 1, 2020. The adoption does not have a material effect on the Group's financial statements. In August 2018, the FASB issued ASU 2018-13, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement, which amends ASC 820, Fair Value Measurement. This ASU modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The Group adopted this standard effective January 1, 2020. The removed and modified disclosures are adopted on a retrospective basis and the new disclosures are adopted on a prospective basis. The adoption does not have a material effect on the Group's financial statements.
Recently issued accounting standards which have not yet been adopted	Recently issued accounting standards which have not yet been adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses ("ASU 2016-13"). Subsequently, the FASB issued ASU 2019-05, Financial Instruments- Credit Losses (Topic 326): Targeted Transition Relief. The amendments in ASU 2016-13 update guidance on reporting credit losses for financial assets. These amendments affect loans, debt securities, accounts receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The amendments are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company is currently evaluating the impact on its financial statements of adopting this guidance.

Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

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

June 30, 2020 (Unaudited)	Level 1		Level 2		Level 3		Total
Current Assets
Marketable securities
Common stocks	$	95,754	$	207,295	$	-	$	303,049
Investments in derivatives
Warrants		-		-		102,087		102,087
Total assets at fair value	$	95,754	$	207,295	$	102,087	$	405,136

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

Schedule of fair value reconciliation of Level 3 assets

	Warrants
Balance at January 1, 2020	$	203,320
Change in unrealized depreciation		(101,233	)
Balance at June 30, 2020 (Unaudited)	$	102,087
Net change in unrealized depreciation relating to investments still held at June 30, 2020		(101,233	)

	Warrants
Balance at January 1, 2019	$	115,721
Change in unrealized appreciation		310,195
Balance at June 30, 2019 (Unaudited)	$	425,916
Net change in unrealized appreciation relating to investments still held at June 30, 2019		310,195

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

June 30,
2020 (Unaudited)

Valuation
technique

Unobservable input

Range

(weighted average)

Sensitivity of fair

value to input

Warrants

Black-Scholes Model

Estimated time to exit Historical Volatility

6-12 months 73% - 277%

10% increase (decrease) in volatility would result in increase (decrease) in fair value by $20,428

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

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

Long Exposure

June 30, 2020 (Unaudited)

December 31, 2019

Primary underlying risk

Notional
Amounts

Number of
Warrants

Notional
Amounts

Number of
Warrants

Equity Price

Warrants

214,141

2,234,373

265,576

2,234,373

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

	June 30, 2020 (Unaudited)				December 31, 2019
Primary underlying risk	Derivative assets		Derivative liabilities		Derivative assets		Derivative liabilities
Equity Price
Warrants	$	102,087	$	-	$	203,320	$	-

	For the six months ended June 30,
	2020					2019
	(Unaudited)					(Unaudited)
Primary underlying risk		Realized gain (loss)		Unrealized gain (loss)			Realized gain (loss)		Unrealized gain (loss)
Equity Price
Warrants	$	-	$	(101,233	)	$	-	$	310,195

Schedule of unrealized gains and losses

	For the six months ended June 30, 2020
	(Unaudited)
Upward adjustments	$	1,635,939
Total unrealized gain for non-marketable investments	$	1,635,939

Schedule of carrying value of our non-marketable investments

	June 30, 2020		December 31, 2019
	(Unaudited)
Initial cost basis	$	6,094,712	$	6,094,712
Upward adjustments		2,653,407		1,017,468
Downward adjustments (including impairment)		-		-
Total carrying value at the end of the period	$	8,748,119	$	7,112,180

- 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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-SubTopic 10
-Section 50
-Paragraph 1A
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 50
-Paragraph 4
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579240-113959

+ Details

Other Receivables and Prepayments (Tables)

6 Months Ended

Jun. 30, 2020

Receivables [Abstract]

Schedule of other receivables and prepayments

	June 30, 2020		December 31, 2019
	(Unaudited)
Prepaid insurance	$	206,082	$	154,011
Prepaid service fee		239,991		296,565
Rental deposits		10,508		8,584
Prepaid rental expenses		12,036		37,169
Prepaid research and development expenses		779,605		453,634
Other receivables		88,073		109,714
Others		25,207		19,366
	$	1,361,502	$	1,079,043

Property, Plant and Equipment, Net (Tables)

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Schedule of property, plant and equipment

	June 30, 2020		December 31, 2019
	(Unaudited)
Building	$	1,488,396	$	1,488,396
Computer equipment		77,444		76,365
Furniture, fixture, and office and medical equipment		262,239		271,009
Leasehold improvements		459,327		665,546
Laboratory equipment		4,030,341		4,029,640
Motor vehicle under finance leases		239,093		239,093
Assets in construction		1,899,169		1,899,169
		8,456,009		8,669,218
Less: accumulated depreciation		1,984,962		1,576,183
		6,471,047		7,093,035
Less: accumulated impairment		330,445		-
Property, plant and equipment, net	$	6,140,602	$	7,093,035

Long-Term Deposits (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of long-term deposits

	June 30, 2020		December 31, 2019
	(Unaudited)
Rental deposits	$	159,140	$	132,043
Prepayments for equipment		176,738		162,563
	$	335,878	$	294,606

Accounts Payable and Accrued Expenses (Tables)

6 Months Ended

Jun. 30, 2020

Accounts Payable and Accrued Liabilities, Current [Abstract]

Schedule of accounts payable and accrued expenses

	June 30, 2020		December 31, 2019
	(Unaudited)
Research and development expenses payable	$	307,270	$	554,791
Cost of healthcare services payable		83,469		45,234
Professional fees payable		259,474		171,037
Insurance expense payable		-		70,811
Payables for leasehold improvement and equipment		30,066		26,779
Deferred bonus and salaries payable		1,773,283		1,570,324
Deferred rent		-		55,484
Others		47,004		92,067
	$	2,500,566	$	2,586,527

Related Party Balances and Transactions (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of due (from) to related parties

	June 30, 2020		December 31, 2019
Current	(Unaudited)
Aeneas Management Limited	$	-	$	962

Non-current
Jurchen Investment Corporation	$	-	$	50,000

	June 30, 2020		December 31, 2019
Current	(Unaudited)
Aenco Solutions Limited	$	10,096	$	5,782
Aeneas Group Limited		80,383		14,247
Jurchen Investment Corporation		21,534		20,055
Ian Huen		-		127
Clark Cheng		-		1,114
Sabrina Khan		-		268
Total	$	112,013	$	41,593

Non-current
Aeneas Group Limited (Note a)	$	1,813,358	$	3,330,472
Jurchen Investment Corporation (Note a)		500,000		3,000,000
Total	$	2,313,358	$	6,330,472

Schedule of related party transactions

	For the six months ended June 30,
	2020		2019
	(Unaudited)		(Unaudited)
Loan from a related party (Note a)
- Aeneas Group Limited	$	500,000	$	-

Repayment of loan from related parties (Note a)
- Aeneas Group Limited	$	1,979,782	$	-
- Jurchen Investment Corporation	$	2,549,996	$	-

Interest expenses (Note a)
- Aeneas Group Limited	$	89,404	$	-
- Jurchen Investment Corporation	$	51,475	$	-

Payments on behalf of the Group (Note b)
- AENEAS CAPITAL LIMITED	$	-	$	5,057
- Aeneas Management Limited	$	-	$	5,372

Expense reimbursement (Note b)
- AENEAS CAPITAL LIMITED	$	-	$	5,057
- Aeneas Management Limited	$	-	$	5,372

Repayments from related parties (Note c)
- AENEAS CAPITAL LIMITED	$	-	$	169,051

Consultant, management and administrative fees (Note d)
- Aeneas Management Limited	$	231,795	$	347,692
- Aenco Limited	$	476,923	$	415,385
- Aeneas Technology (Hong Kong) Limited	$	247,118	$	-
- CGY Investments Limited	$	76,129	$	-

Rental expense (Note e)
- Jurchen Investment Corporation	$	96,300	$	113,572

Tokens consultancy fee (Note d)
- Aenco Solutions Limited	$	12,000	$	-

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

Lease (Tables)

6 Months Ended

Jun. 30, 2020

Lease [Abstract]

Schedule of components of finance leases obligation

	For the six months ended June 30, 2020
	(Unaudited)
Lease cost
Finance lease cost:
Depreciation	$	23,909
Interest on lease liabilities		3,990
Operating lease cost		288,057
Short-term lease cost		31,868
Variable lease cost		-
Sublease income		-
Total lease cost	$	347,824
Other information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	270,434
Financing cash flows from finance leases		26,924
Right-of-use assets obtained in exchange for new operating lease liabilities		1,086,732
Weighted-average remaining lease term – finance leases		2.4 years
Weighted-average remaining lease term – operating leases		1.9 years
Weighted-average discount rate – finance leases		2.5	%
Weighted-average discount rate – operating leases		8.0	%

Schedule of maturity analysis of operating leases liabilities

	June 30, 2020
	(Unaudited)
Remaining periods ending December 31,
2020	$	210,327
2021		458,159
2022		119,427
2023		12,286
Total future undiscounted cash flow		800,199
Less: Discount on operating lease liabilities		(60,386	)
		739,813
Less: Current portion of operating lease obligation		(419,875	)
Non-current portion of operating lease liabilities	$	319,938

Share Based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

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, 2020		218,222			12.91		11.51

Granted		685,569			3.02		12.02
Exercised		(2,274	)		12.91		-
Forfeited		(2,150	)		8.79		-
Outstanding, June 30, 2020		899,367			5.38		11.60
Exercisable, June 30, 2020		106,852			12.91		10.51

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

		Date of grant
Expected volatility		88.44%-96.55%
Risk-free interest rate		0.65%-2.49%
Expected term from grant date (in years)		5.25-7.29
Dividend rate		-
Dilution factor		0.9909-1
Fair value		$1.55-$10.52

Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Schedule of basic and diluted loss per share

	For the six months ended June 30,
	2020			2019
	(Unaudited)			(Unaudited)
Numerator:
Net loss attributable to Aptorum Group Limited	$	(6,204,565	)	$	(9,088,471	)
Denominator:
Basic and diluted weighted average shares outstanding		29,956,393			28,978,151

Basic and diluted loss per share	$	(0.21	)	$	(0.31	)

Contingent Payment Obligations (Tables)

6 Months Ended

Jun. 30, 2020

Contingent Payment Obligations [Abstract]

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

Liquidity (Details) - USD ($)	6 Months Ended
Liquidity (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Sep. 02, 2020	Dec. 31, 2019
Liquidity (Textual)
Net loss	$ (6,988,314)	$ (9,640,348)
Accumulated deficit	(43,760,545)			$ (37,555,980)
Net operation cash outflow	$ (7,025,945)	$ (7,335,009)
Line of Credit [Member] \| Subsequent Event [Member]
Liquidity (Textual)
Restricted and unrestricted cash			$ 2,000,000
Undrawn line of credit facility			$ 12,000,000

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
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-Paragraph 1A
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+ Details

Summary of Significant Accounting Policies (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jan. 02, 2020	Dec. 31, 2019
Summary of Significant Accounting Policies (Textual)
Gains from the marketable securities	$ 192,134	$ 315,977
Available-for-sale securities sales proceeds	952,196	790,950
Recognized a gain on sale of securities	452,197	627,014
Unrealized gain on the investments in derivatives amounted	310,195	310,195
Unrealized loss on the investments in derivatives amounted	101,233	$ 101,233
Operating lease right-of-use assets	705,890		$ 959,641
Operating lease liabilities	$ 419,875		$ 982,288

Fair Value Measurement (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Assets Investments in securities
Total assets at fair value	$ 405,136	$ 1,266,431
Common stocks [Member]
Assets Investments in securities
Total assets at fair value	303,049	1,063,111
Warrants [Member]
Assets Investments in securities
Total assets at fair value	102,087	203,320
Level 1 [Member]
Assets Investments in securities
Total assets at fair value	95,754	806,778
Level 1 [Member] \| Common stocks [Member]
Assets Investments in securities
Total assets at fair value	95,754	806,778
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	207,295	256,333
Level 2 [Member] \| Common stocks [Member]
Assets Investments in securities
Total assets at fair value	207,295	256,333
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	102,087	203,320
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	$ 102,087	$ 203,320

Fair Value Measurement (Details 1) - Level 3 [Member] - Warrants [Member] - Fair value recurring [Member] - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Beginning balance	$ 203,320	$ 115,721
Change in unrealized appreciation (depreciation)	(101,233)	310,195
Ending Balance	102,087	425,916
Net change in unrealized depreciation relating to investments still held at June 30, 2020	$ (101,233)	$ 310,195

Fair Value Measurement (Details 2) - Warrants [Member]	6 Months Ended	12 Months Ended
Fair Value Measurement (Details 2) - Warrants [Member]	Jun. 30, 2020	Dec. 31, 2019
Valuation technique	Black-Scholes Model	Black-Scholes Model
Unobservable input	Estimated time to exit Historical Volatility	Estimated time to exit Historical Volatility
Range (weighted average)	6-12 months 73% - 277%	12-18 months 73% - 301%
Sensitivity of fair value to input	10% increase (decrease) in volatility would result in increase (decrease) in fair value by $20,428	10% increase (decrease) in volatility would result in increase (decrease) in fair value by $17,871

Fair Value Measurement (Details 3) - Warrants [Member] - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Equity Price
Notional Amounts	$ 214,141	$ 265,576
Number of Warrants	2,234,373	2,234,373

Fair Value Measurement (Details 4) - Warrants [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Equity Price
Derivative assets	$ 102,087	$ 203,320
Derivative liabilities
Realized gain (loss)
Unrealized gain (loss)	$ (101,233)	$ 310,195

Fair Value Measurement (Details 5) - USD ($)	6 Months Ended	12 Months Ended
Fair Value Measurement (Details 5) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Cumulative upward adjustment	$ 2,653,407	$ 1,017,468
Total unrealized gain for non-marketable investments	$ 1,635,939

Fair Value Measurement (Details 6) - USD ($)	6 Months Ended	12 Months Ended
Fair Value Measurement (Details 6) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Initial cost basis	$ 6,094,712	$ 6,094,712
Upward adjustments	2,653,407	1,017,468
Downward adjustments (including impairment)
Total carrying value at the end of the period	$ 8,748,119	$ 7,112,180

Other Receivables and Prepayments (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Receivables [Abstract]
Prepaid insurance	$ 206,082	$ 154,011
Prepaid service fee	239,991	296,565
Rental deposits	10,508	8,584
Prepaid rental expenses	12,036	37,169
Prepaid research and development expenses	779,605	453,634
Other receivables	88,073	109,714
Others	25,207	19,366
Total	$ 1,361,502	$ 1,079,043

Other Receivables and Prepayments (Details Textual) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Aenco Solutions Limited [Member]
Other Receivables and Prepayments (Textual)
Prepayment for token consultancy services	$ 96,000	$ 108,000

Property, Plant and Equipment, Net (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Property, plant and equipment, gross	$ 8,456,009	$ 8,669,218
Less: accumulated depreciation	1,984,962	1,576,183
Before accumulated impairment	6,471,047	7,093,035
Less: accumulated impairment	330,445
Property, plant and equipment, net	6,140,602	7,093,035
Building [Member]
Property, plant and equipment, gross	1,488,396	1,488,396
Computer equipment [Member]
Property, plant and equipment, gross	77,444	76,365
Furniture, fixture, and office and medical equipment [Member]
Property, plant and equipment, gross	262,239	271,009
Leasehold improvements [Member]
Property, plant and equipment, gross	459,327	665,546
Laboratory equipment [Member]
Property, plant and equipment, gross	4,030,341	4,029,640
Motor vehicle under finance leases [Member]
Property, plant and equipment, gross	239,093	239,093
Assets in construction [Member]
Property, plant and equipment, gross	$ 1,899,169	$ 1,899,169

Property, Plant and Equipment, Net (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment, Net (Textual)
Depreciation expenses	$ 583,104	$ 482,925
Loss on disposal of other operating expense	62,705
Building [Member]
Property, Plant and Equipment, Net (Textual)
Impairment loss	$ 330,445

Long-Term Deposits (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Rental deposits	$ 159,140	$ 132,043
Prepayments for equipment	176,738	162,563
Total	$ 335,878	$ 294,606

Accounts Payable and Accrued Expenses (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Accounts Payable and Accrued Liabilities, Current [Abstract]
Research and development expenses payable	$ 307,270	$ 554,791
Cost of healthcare services payable	83,469	45,234
Professional fees payable	259,474	171,037
Insurance expense payable		70,811
Payables for leasehold improvement and equipment	30,066	26,779
Deferred bonus and salaries payable	1,773,283	1,570,324
Deferred rent		55,484
Others	47,004	92,067
Accounts payable and accrued expenses	$ 2,500,566	$ 2,586,527

Income Taxes (Details Textual)	6 Months Ended
Income Taxes (Details Textual)	Jun. 30, 2020
United Kingdom [Member]
Income Taxes (Textual)
Income tax, description	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 of the Group in the United Kingdom did not have assessable profits that were derived from the United Kingdom during the six months ended June 30, 2020 and 2019.
Singapore [Member]
Income Taxes (Textual)
Income tax, description	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 six months ended June 30, 2020 and 2019. Therefore, no Singapore profit tax has been provided for in the periods presented.
Seychelles [Member]
Income Taxes (Textual)
Income tax, description	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 six months ended June 30, 2020 and 2019.
Samoa [Member]
Income Taxes (Textual)
Income tax, description	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 six months ended June 30, 2020 and 2019.
United States (Nevada) [Member]
Income Taxes (Textual)
Income tax, description	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 six months ended June 30, 2020 and 2019.
Hong Kong [Member]
Income Taxes (Textual)
Statutory income tax rate	16.50%

Related Party Balances and Transactions (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Current
Amounts due from related parties		$ 962
Non-current
Amounts due from related parties		50,000
Aeneas Management Limited [Member]
Current
Amounts due from related parties		962
Jurchen Investment Corporation [Member]
Non-current
Amounts due from related parties		$ 50,000

Related Party Balances and Transactions (Details 1) - USD ($)

Jun. 30, 2020

Dec. 31, 2019

Current

Amounts due to related parties

$ 112,013

$ 41,593

Non-current

Amounts due to related parties

2,313,358

6,330,472

Aenco Solutions Limited [Member]

Current

Amounts due to related parties

10,096

5,782

Aeneas Group Limited [Member]

Current

Amounts due to related parties

80,383

14,247

Non-current

Amounts due to related parties

^[1]

1,813,358

3,330,472

Jurchen Investment Corporation [Member]

Current

Amounts due to related parties

21,534

20,055

Non-current

Amounts due to related parties

^[1]

500,000

3,000,000

Ian Huen [Member]

Current

Amounts due to related parties

127

Clark Cheng [Member]

Current

Amounts due to related parties

1,114

Sabrina Khan [Member]

Current

Amounts due to related parties

$ 268

[1]

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 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. The Group may early repay, in whole or in part, the principal indebtedness and all interest accrued at any time prior to the maturity date without the prior written consent of the lender and without payment of any premium or penalty.

Related Party Balances and Transactions (Details 2) - USD ($)

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Loan from a related party (Note a)

$ 500,000

Repayments from related parties

(4,529,778)

CGY Investments Limited [Member]

Consultant, management and administrative fees

^[1]

76,129

Aeneas Technology (Hong Kong) Limited [Member]

Consultant, management and administrative fees

^[1]

247,118

Aenco Limited [Member]

Consultant, management and administrative fees

^[1]

476,923

415,385

Aeneas Management Limited [Member]

Payments on behalf of the Group

^[2]

5,372

Expense reimbursement

^[2]

5,372

Consultant, management and administrative fees

^[1]

231,795

347,692

AENEAS CAPITAL LIMITED [Member]

Payments on behalf of the Group

^[2]

5,057

Expense reimbursement

^[2]

5,057

Repayments from related parties

^[3]

169,051

Aeneas Group Limited [Member]

Loan from a related party (Note a)

^[4]

500,000

Repayment of loan from related parties

^[4]

1,979,782

Interest expenses

^[4]

89,404

Jurchen Investment Corporation [Member]

Repayment of loan from related parties

^[4]

2,549,996

Interest expenses

^[4]

51,475

Rental expense

^[5]

96,300

113,572

Aenco Solutions Limited [Member]

Tokens maintenance fee

^[1]

$ 12,000

[1]	Aeneas Management Limited provided certain documentation and administrative services to the Group. Aeneas Management Limited was entitled to receive a fixed amount of services fees of HKD452,000 (approximately $57,949) per calendar month with the original expiry date on December 31, 2019. The agreement was originally renewed under the same terms with a new expiry date on December 31, 2020. The agreement was terminated on April 30, 2020. Aenco Limited provided certain information technology services to the Group. Aenco Limited was entitled to receive a fixed amount of services fees of HKD540,000 (approximately $69,231) per calendar month with the original expiry date on December 31, 2019. The agreement was originally renewed under the same terms with a new 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 Technology (Hong Kong) Limited provided research to the Group to assist the Group in computerized drug screening process of Smart-ACTTM platform. Aeneas Technology (Hong Kong) Limited is entitled to receive a fixed amount of research fees of HKD963,760 (approximately $123,559) per calendar month with the expiry date on October 30, 2021. CGY Investment Limited provided certain consultancy, advisory, and management services to the Group on potential investment projects related to healthcare or R&D platforms. CGY Investment Limited is entitled to receive HK$104,000 (approximately $13,333) per calendar month. The agreement will be remained in effect until 1 month's notice in writing is given by either party. 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 consultancy and listing fees, purchasing digital currencies and settlement of maintenance service provided by Aenco Solutions Limited.
[2]	AENEAS CAPITAL LIMITED and Aeneas Management Limited had paid the operation fee on behalf of the Group and received the expense reimbursement. The balances were non-interest bearing.
[3]	The Group had paid the expenses on behalf of AENEAS CAPITAL LIMITED, of which the whole amounts were non-interest bearing. There was no further payment on behalf transactions since April 2018. The balance was fully repaid in 2019.
[4]	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 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. The Group may early repay, in whole or in part, the principal indebtedness and all interest accrued at any time prior to the maturity date without the prior written consent of the lender and without payment of any premium or penalty.
[5]	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 HKD130,000 (approximately $16,667) per calendar month. In May 2020, Jurchen Investment Corporation and the Group mutually agreed to early terminate the rental agreement and returned the office on May 31, 2020.

Related Party Balances and Transactions (Details Textual) - USD ($)	1 Months Ended	6 Months Ended	12 Months Ended
	Jan. 29, 2020	Jun. 30, 2020	Dec. 31, 2019	Jan. 02, 2020	Mar. 29, 2019
CGY Investments Limited [Member]
Related Party Balances and Transactions (Textual)
Amount receive		$ 13,333
CGY Investments Limited [Member] \| HKD [Member]
Related Party Balances and Transactions (Textual)
Amount receive		104,000
AENEAS CAPITAL LIMITED [Member]
Related Party Balances and Transactions (Textual)
Administrative fees			$ 57,949
AENEAS CAPITAL LIMITED [Member] \| HKD [Member]
Related Party Balances and Transactions (Textual)
Administrative fees			$ 452,000
Aenco Limited [Member]
Related Party Balances and Transactions (Textual)
Services fees	$ 89,744	$ 69,231
Expiry date	Dec. 31, 2020	Dec. 31, 2020
Aenco Limited [Member] \| HKD [Member]
Related Party Balances and Transactions (Textual)
Services fees	$ 700,000	$ 540,000
Aeneas Management Limited [Member]
Related Party Balances and Transactions (Textual)
Services fees		$ 123,559
Expiry date		Oct. 30, 2021
Aeneas Management Limited [Member] \| HKD [Member]
Related Party Balances and Transactions (Textual)
Services fees		$ 963,760
Jurchen Investment Corporation [Member]
Related Party Balances and Transactions (Textual)
Rental fee		16,667
Jurchen Investment Corporation [Member] \| HKD [Member]
Related Party Balances and Transactions (Textual)
Rental fee		$ 130,000
Aptorum Medical Limited [Member] \| Maximum [Member]
Related Party Balances and Transactions (Textual)
Ownership of Aeneas Limited and its subsidiary				94.00%	95.00%
Aptorum Medical Limited [Member] \| Minimum [Member]
Related Party Balances and Transactions (Textual)
Ownership of Aeneas Limited and its subsidiary				93.00%	94.00%

Lease (Details)	6 Months Ended
Lease (Details)	Jun. 30, 2020 USD ($)
Finance lease cost:
Depreciation	$ 23,909
Interest on lease liabilities	3,990
Operating lease cost	288,057
Short-term lease cost	31,868
Variable lease cost
Sublease income
Total lease cost	347,824
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	270,434
Financing cash flows from finance leases	26,924
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 1,086,732
Weighted-average remaining lease term – finance leases	2 years 4 months 24 days
Weighted-average remaining lease term – operating leases	1 year 10 months 25 days
Weighted-average discount rate – finance leases	2.50%
Weighted-average discount rate – operating leases	8.00%

Lease (Details 1)	Jun. 30, 2020 USD ($)
Lease [Abstract]
2020	$ 210,327
2021	458,159
2022	119,427
2023	12,286
Total future undiscounted cash flow	800,199
Less: Discount on operating lease liabilities	(60,386)
Total	739,813
Less: Current portion of operating lease obligation	(419,875)
Non-current portion of operating lease liabilities	$ 319,938

Lease (Details Textual)	Jun. 30, 2020
Lease [Abstract]
Weighted average remaining lease term	1 year 10 months 25 days
Weighted average discount rates	8.00%

Ordinary Shares (Details) - Common Class A [Member] - USD ($)	1 Months Ended
	Feb. 28, 2020	Jun. 30, 2020	Dec. 31, 2019	Jun. 19, 2019
Ordinary Shares (Textual)
Ordinary shares, issued		7,950,986	6,597,362
Ordinary shares, outstanding		7,950,986	6,597,362
Purchase Agreement [Member]
Ordinary Shares (Textual)
Shares issued	1,351,350
Gross proceeds	$ 10,000,000
Offering costs	$ 1,000,000
Warrant Holders [Member]
Ordinary Shares (Textual)
Shares issued				60,093
Warrants issued to investors	1,351,350
Issuance at an exercise price	$ 7.40
Warrant Holders [Member] \| Placement Agent [Member]
Ordinary Shares (Textual)
Warrants issued to placement agent	43,243
Issuance at an exercise price	$ 8.88

Share Based Compensation (Details) - Stock Option [Member] - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Number of share options, Outstanding Beginning	218,222
Number of share options, Granted	685,569
Number of share options, Exercised	(2,274)
Number of share options, Forfeited	(2,150)
Number of share options, Outstanding Ending	899,367	218,222
Number of share options, Exercisable	106,852
Weighted average exercise price, Outstanding Beginning	$ 12.91
Weighted average exercise price, Granted	3.02
Weighted average exercise price, Exercised	12.91
Weighted average exercise price, Forfeited	8.79
Weighted average exercise price, Outstanding Ending	5.38	$ 12.91
Weighted average exercise price, Exercisable	$ 12.91
Remaining contractual term in years, Granted	12 years 7 days
Remaining contractual term in years, outstanding	11 years 7 months 6 days	11 years 6 months 3 days
Remaining contractual term in years, Exercisable	10 years 6 months 3 days

Share Based Compensation (Details 1)	6 Months Ended
Share Based Compensation (Details 1)	Jun. 30, 2020 $ / shares
Share-based Payment Arrangement [Abstract]
Expected volatility, minimum	88.44%
Expected volatality, maximum	96.55%
Risk-free interest rate, minimum	0.65%
Risk-free interest rate, maximum	2.49%
Expected term from grant date (in years), minimum	5 years 2 months 30 days
Expected term from grant date (in years), maximum	7 years 3 months 15 days
Dividend rate
Dilution factor, minimum	$ 0.9909
Dilution factor, maximum	1
Fair value, minimum	1.55
Fair value, maximum	$ 10.52

Share Based Compensation (Details Textual) - USD ($)			1 Months Ended	6 Months Ended
Share Based Compensation (Details Textual) - USD ($)	Jun. 01, 2019	Mar. 16, 2019	Mar. 15, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Share Based Compensation (Textual)
Intrinsic value of options outstanding				$ 500,000		$ 600,000
Employees [Member]
Share Based Compensation (Textual)
Share-based compensation charges				427,062	$ 435,967
Non-employees [Member]
Share Based Compensation (Textual)
Share-based compensation charges				$ 157,032	$ 157,839
2017 Share Option Plan [Member] \| Directors, Employees, External Consultants And Advisors [Member]
Share Based Compensation (Textual)
Options granted	148,792	536,777	218,222
Stock option exercise price	$ 3.11	$ 2.99	$ 12.91
2017 Share Option Plan [Member] \| Class A Ordinary Shares [Member]
Share Based Compensation (Textual)
Total shares issued				5,500,000
Stock option related, description				(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.

Net Loss Per Share (Details) - USD ($)	6 Months Ended
Net Loss Per Share (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net loss attributable to Aptorum Group Limited	$ (6,204,565)	$ (9,088,471)
Denominator:
Basic and diluted weighted average shares outstanding	29,956,393	28,978,151
Basic and diluted loss per share	$ (0.21)	$ (0.31)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
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+ Details

Contingent Payment Obligations (Details)	Jun. 30, 2020 USD ($)
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

Contingent Payment Obligations (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Contingent Payment Obligations (Textual)
Non-cancellable purchase commitments	$ 117,745
Milestone payments	$ 0	$ 0

Subsequent Events (Details) - Subsequent Event [Member] - USD ($)	Sep. 01, 2020	Aug. 10, 2020
Subsequent Events (Textual)
Options granted		27,243
Exercise price		$ 3.64
Vested date		Aug. 10, 2021
HONG KONG
Subsequent Events (Textual)
Sale of property amount	$ 1,100,000
Fo Tan [Member]
Subsequent Events (Textual)
Sale of property amount	$ 1,100,000