Aethlon Medical (AEMD) 10-Q 1 Nov 19 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Document And Entity Information
Entity Registrant Name	AETHLON MEDICAL INC
Entity Central Index Key	0000882291
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity's Reporting Status Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		1,441,275
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
Entity Small Business	true
Entity Emerging growth	false
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	NV
Entity File Number	001-37487

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2019	Mar. 31, 2019
Current assets
Cash	$ 785,658	$ 3,828,074
Prepaid expenses and other current assets	114,036	210,042
Total current assets	899,694	4,038,116
Property and equipment, net	124,833	6,021
Right-of-use lease asset	183,018	0
Patents, net	62,086	66,668
Deposits	12,159	12,159
Total assets	1,281,790	4,122,964
Current liabilities
Accounts payable	586,960	131,931
Due to related parties	101,462	83,654
Convertible notes payable, net	0	962,301
Deferred revenue	100,000	0
Lease liability, current portion	94,885	0
Other current liabilities	285,211	646,000
Total current liabilities	1,168,518	1,823,886
Lease liability, less current portion	92,600	0
Total liabilities	1,261,118	1,823,886
Commitments and Contingencies (Note 13)
Stockholders' Equity
Common stock, par value $0.001 per share; 30,000,000 shares authorized; 1,337,259 and 1,266,979 shares issued and outstanding as of September 30, 2019 and March 31, 2019, respectively	1,338	1,267
Additional paid-in capital	109,571,708	108,076,275
Accumulated deficit	(109,423,894)	(105,652,433)
Total Aethlon Medical, Inc. stockholders' equity before noncontrolling interests	149,152	2,425,109
Noncontrolling interests	(128,480)	(126,031)
Total stockholders' equity	20,672	2,299,078
Total liabilities and stockholders' equity	$ 1,281,790	$ 4,122,964

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2019	Mar. 31, 2019
Stockholders' Deficit
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock shares authorized	30,000,000	30,000,000
Common stock issued	1,337,259	1,266,979
Common stock outstanding	1,337,259	1,266,979

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Government contract revenue	$ 0	$ 0	$ 30,000	$ 149,625
OPERATING EXPENSES
Professional fees	762,337	403,044	1,369,915	852,479
Payroll and related expenses	597,526	672,279	1,203,521	1,274,844
General and administrative	342,339	271,631	724,955	466,528
Total operating expenses	1,702,202	1,346,954	3,298,391	2,593,851
OPERATING LOSS	(1,702,202)	(1,346,954)	(3,268,391)	(2,444,226)
OTHER EXPENSE
Interest and other debt expenses	21	55,106	54,106	110,210
Loss on share for warrant exchanges	4,403	0	4,403	0
Loss on debt extinguishment	0	0	447,011	0
Total other expense	4,424	55,106	505,520	110,210
NET LOSS	(1,706,626)	(1,402,060)	(3,773,911)	(2,554,436)
LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(1,589)	(8,715)	(2,450)	(14,864)
NET LOSS ATTRIBUTABLE TO AETHLON MEDICAL, INC.	$ (1,705,037)	$ (1,393,345)	$ (3,771,461)	$ (2,539,572)
BASIC AND DILUTED LOSS PER COMMON SHARE	$ (1.29)	$ (1.17)	$ (2.91)	$ (2.14)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING – BASIC AND DILUTED	1,317,418	1,185,949	1,294,206	1,184,795

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Noncontrolling Interest	Total
Beginning balance, shares at Mar. 31, 2018	1,182,634
Beginning balance, value at Mar. 31, 2018	$ 1,183	$ 105,590,571	$ (99,457,714)	$ (101,246)	$ 6,032,794
Issuance of common shares upon vesting of restricted stock units, shares	1,446
Issuance of common shares upon vesting of restricted stock units, value	$ 1	(32,738)			(32,737)
Stock based compensation expense		263,162			263,162
Net loss			(1,146,228)	(6,148)	(1,152,376)
Ending balance, shares at Jun. 30, 2018	1,184,080
Ending balance, value at Jun. 30, 2018	$ 1,184	105,820,995	(100,603,942)	(107,394)	5,110,843
Beginning balance, shares at Mar. 31, 2018	1,182,634
Beginning balance, value at Mar. 31, 2018	$ 1,183	105,590,571	(99,457,714)	(101,246)	6,032,794
Net loss					(2,554,436)
Ending balance, shares at Sep. 30, 2018	1,188,977
Ending balance, value at Sep. 30, 2018	$ 1,189	106,123,804	(101,997,287)	(116,109)	4,011,597
Beginning balance, shares at Jun. 30, 2018	1,184,080
Beginning balance, value at Jun. 30, 2018	$ 1,184	105,820,995	(100,603,942)	(107,394)	5,110,843
Issuance of common shares upon vesting of restricted stock units, shares	3,897
Issuance of common shares upon vesting of restricted stock units, value	$ 4	(53,036)			(53,032)
Common stock issued for services, shares	1,000
Common stock issued for services, value	$ 1	19,349			19,350
Stock based compensation expense		336,496			336,496
Net loss			(1,393,345)	(8,715)	(1,402,060)
Ending balance, shares at Sep. 30, 2018	1,188,977
Ending balance, value at Sep. 30, 2018	$ 1,189	106,123,804	(101,997,287)	(116,109)	4,011,597
Beginning balance, shares at Mar. 31, 2019	1,266,979
Beginning balance, value at Mar. 31, 2019	$ 1,267	108,076,275	(105,652,433)	(126,031)	2,299,078
Issuances of common stock for cash under at the market program, shares	3,087
Issuances of common stock for cash under at the market program, value	$ 3	36,619			36,622
Loss on debt extinguishment		447,011			447,011
Issuance of common shares upon vesting of restricted stock units, shares	3,539
Issuance of common shares upon vesting of restricted stock units, value	$ 4	(23,775)			(23,771)
Stock based compensation expense		326,536			326,536
Net loss			(2,066,424)	(860)	(2,067,284)
Ending balance, shares at Jun. 30, 2019	1,273,605
Ending balance, value at Jun. 30, 2019	$ 1,274	108,862,666	(107,718,857)	(126,891)	1,018,192
Beginning balance, shares at Mar. 31, 2019	1,266,979
Beginning balance, value at Mar. 31, 2019	$ 1,267	108,076,275	(105,652,433)	(126,031)	2,299,078
Net loss					(3,773,911)
Ending balance, shares at Sep. 30, 2019	1,337,259
Ending balance, value at Sep. 30, 2019	$ 1,338	109,571,708	(109,423,894)	(128,480)	20,672
Beginning balance, shares at Jun. 30, 2019	1,273,605
Beginning balance, value at Jun. 30, 2019	$ 1,274	108,862,666	(107,718,857)	(126,891)	1,018,192
Issuances of common stock for cash under at the market program, shares	59,340
Issuances of common stock for cash under at the market program, value	$ 60	386,552			386,612
Issuances of common stock upon warrant exchanges, shares	1,078
Issuances of common stock upon warrant exchanges, value	$ 1	4,402			4,403
Issuance of common shares upon vesting of restricted stock units, shares	3,236
Issuance of common shares upon vesting of restricted stock units, value	$ 3	(8,448)			(8,445)
Stock based compensation expense		326,536			326,536
Net loss			(1,705,037)	(1,589)	(1,706,626)
Ending balance, shares at Sep. 30, 2019	1,337,259
Ending balance, value at Sep. 30, 2019	$ 1,338	$ 109,571,708	$ (109,423,894)	$ (128,480)	$ 20,672

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net loss	$ (3,773,911)	$ (2,554,436)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	5,751	16,040
Stock based compensation	653,072	599,658
Loss on debt extinguishment	447,011	0
Loss on share for warrant exchanges	4,403	0
Amortization of debt discount	30,287	60,574
Common stock issued for services	0	19,350
Noncash lease expense	45,676	0
Changes in operating assets and liabilities:
Accounts receivable	0	74,813
Prepaid expenses and other current assets	96,006	93,163
Accounts payable and other current liabilities	97,947	(127,358)
Change in lease liability	(44,916)	0
Deferred revenue	100,000	0
Due to related parties	17,808	8,500
Net cash used in operating activities	(2,320,866)	(1,809,696)
Cash flows from investing activities:
Purchases of property and equipment	(119,981)	0
Net cash used in investing activities	(119,981)	0
Cash flows (used in) provided by financing activities:
Proceeds from the issuance of common stock, net	423,234	0
Principal payments on convertible notes	(992,591)	0
Tax withholding payments or tax equivalent payments for net share settlement of restricted stock units	(32,212)	(85,769)
Net cash used in financing activities	(601,569)	(85,769)
Net decrease in cash	(3,042,416)	(1,895,464)
Cash at beginning of period	3,828,074	6,974,070
Cash at end of period	785,658	5,078,605
Supplement disclosures of cash flow information:
Interest	83,332	95,388
Supplemental information of non-cash investing and financing activities:
Initial recognition of right-of-use lease asset and lease liability	228,694	0
Par value of shares issued for vested restricted stock units	$ 7	$ 4

1. NATURE OF BUSINESS AND BASIS

1. NATURE OF BUSINESS AND BASIS OF PRESENTATION	6 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS AND BASIS OF PRESENTATION	1. NATURE OF BUSINESS AND BASIS OF PRESENTATION ORGANIZATION Aethlon Medical, Inc. and its subsidiary (collectively, “Aethlon”, the “Company”, “we” or “us”), is a medical device technology company focused on developing products to diagnose and treat life and organ threatening diseases. The Aethlon Hemopurifier® is a clinical-stage immunotherapeutic device designed to combat cancer and life-threatening viral infections. In cancer, the Hemopurifier depletes the presence of circulating tumor-derived exosomes that promote immune suppression, seed the spread of metastasis and inhibit the benefit of leading cancer therapies. The U.S. Food and Drug Administration, or FDA, has designated the Hemopurifier as a “Breakthrough Device” for two independent indications: · the treatment of individuals with advanced or metastatic cancer who are either unresponsive to or intolerant of standard of care therapy, and with cancer types in which exosomes have been shown to participate in the development or severity of the disease; and · the treatment of life-threatening viruses that are not addressed with approved therapies. We believe the Hemopurifier can be a substantial advance in the treatment of patients with advanced and metastatic cancer through the clearance of exosomes that promote the growth and spread of tumors through multiple mechanisms. We are currently preparing for the initiation of clinical trials in patients with advanced and metastatic cancers. We are initially focused on the treatment of solid tumors, including head and neck cancer, gastrointestinal cancers and other cancers. On October 4, 2019, the FDA approved our Investigational Device Exemption, or IDE, application to initiate an Early Feasibility Study, or EFS, of the Hemopurifier in patients with head and neck cancer in combination with standard of care pembrolizumab (Keytruda). The primary endpoint for the EFS, which will enroll 10-12 subjects at a single center, will be safety, with secondary endpoints including measures of exosome clearance and characterization, as well as response and survival rates. The IDE approval is subject to FDA approval of Informed Consent documents from the trial site. We also believe the Hemopurifier can be a part of the broad-spectrum treatment of life-threatening highly glycosylated, or carbohydrate coated, viruses that are not addressed with an already approved treatment. In small-scale or early feasibility human studies, the Hemopurifier has been used to treat individuals infected with HIV, hepatitis-C, and Ebola. Additionally, in vitro, We are also the majority owner of Exosome Sciences, Inc., or ESI, a company focused on the discovery of exosomal biomarkers to diagnose and monitor life-threatening diseases. Included among ESI’s activities is the advancement of a TauSome ™ We also recently announced the execution of a cross-licensing and development agreement with SeaStar Medical, Inc., which will be focused on co-development of our Hemopurifier cartridge with SeaStar’s proprietary cartridges and the development of a closed system for the Hemopurifier using the SeaStar pump and cassettes. This collaboration may allow the deployment of the Hemopurifier into settings that lack dialysis infrastructure, such as chemotherapy infusion centers and field operations for life threatening viral epidemics. Successful outcomes of human trials will also be required by the regulatory agencies of certain foreign countries where we plan to sell the Hemopurifier. Some of our patents may expire before FDA approval or approval in a foreign country, if any, is obtained. However, we believe that certain patent applications and/or other patents issued more recently will help protect the proprietary nature of the Hemopurifier treatment technology. Our executive offices are located at 9635 Granite Ridge Drive, Suite 100, San Diego, California 92123. Our telephone number is (858) 459-7800. Our website address is www.aethlonmedical.com. Our common stock is listed on the Nasdaq Capital Market under the symbol “AEMD.” REVERSE STOCK SPLIT On October 14, 2019, the Company completed a 1-for-15 reverse stock split. Accordingly, 15 shares of outstanding common stock held by stockholders were combined into one share of common stock. Any fractional shares resulting from the reverse split were rounded up to the next whole share. Authorized common stock remained at 30,000,000 shares (see Note 14). The accompanying unaudited condensed consolidated financial statements and accompanying notes have been retroactively revised to reflect such reverse stock split as if it had occurred on April 1, 2018. All shares and per share amounts have been revised accordingly. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES During the six months ended September 30, 2019, there have been no changes to our significant accounting policies as described in our Annual Report on Form 10-K for the fiscal year ended March 31, 2019 except as described below. Leases At lease commencement, the Company records a lease liability based on the present value of lease payments over the expected lease term. The Company calculates the present value of lease payments using the discount rate implicit in the lease, unless that rate cannot be readily determined. In that case, the Company uses its incremental borrowing rate, which is the rate of interest that the Company would have to pay to borrow on a collateralized basis an amount equal to the lease payments over the expected lease term. The Company records a corresponding right-of-use lease asset based on the lease liability, adjusted for any lease incentives received and any initial direct costs paid to the lessor prior to the lease commencement date. After lease commencement, the Company measures its leases as follows: (i) the lease liability based on the present value of the remaining lease payments using the discount rate determined at lease commencement; and (ii) the right-of-use lease asset based on the remeasured lease liability, adjusted for any unamortized lease incentives received, any unamortized initial direct costs and the cumulative difference between rent expense and amounts paid under the lease agreement. Rent expense is recorded on a straight-line basis over the expected lease term (See Note 4). Basis of Presentation and Use of Estimates The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 8 of the Securities and Exchange Commission (SEC) Regulation S-X. Accordingly, they should be read in conjunction with the audited financial statements and notes thereto for the fiscal year ended March 31, 2019, included in the Company's Annual Report on Form 10-K filed with the SEC on July 1, 2019. The accompanying unaudited condensed consolidated financial statements include the accounts of Aethlon Medical, Inc. and its majority-owned subsidiary. All significant inter-company transactions and balances have been eliminated in consolidation. The unaudited condensed consolidated financial statements contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the condensed consolidated financial statements as of and for the three and six months ended September 30, 2019, and the condensed consolidated statement of cash flows for the six months ended September 30, 2019. Estimates were made relating to useful lives of fixed assets, impairment of assets, share-based compensation expense and accruals for clinical trial and research and development expenses. Actual results could differ materially from those estimates. The accompanying condensed consolidated balance sheet at March 31, 2019 has been derived from the audited consolidated balance sheet at March 31, 2019, contained in the above referenced 10-K. The results of operations for the three and six months ended September 30, 2019 are not necessarily indicative of the results to be expected for the full year or any future interim periods. Reclassifications Certain prior year balances within the unaudited condensed consolidated financial statements have been reclassified to conform to the current year presentation. LIQUIDITY AND GOING CONCERN The accompanying condensed consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the ordinary course of business. We have incurred continuing losses from operations and at September 30, 2019 had an accumulated deficit of approximately $109,424,000. These factors, among other matters, raise substantial doubt about our ability to continue as a going concern for the twelve months from the issuance of these financial statements. A significant amount of additional capital will be necessary to advance the development of our products to the point at which they may become commercially viable. We intend to fund operations, working capital and other cash requirements through at least twelve months from the issuance date of these condensed consolidated financial statements through equity and/or debt financing arrangements as well as through revenues and related cash receipts under our government contracts (see Note 11). Significant additional financing must be obtained in order to provide a sufficient source of operating capital and to allow us to continue to operate as a going concern and to meet our liquidity needs for a twelve month period from the date of this filing. In addition, we will need to raise capital to complete anticipated future human clinical trials in the U.S. We anticipate the primary sources of this additional financing will be from proceeds of our at-the-market offering program, pursuant to our Form S-3 Registration Statement, debt financing and other forms of equity placements. However, no assurance can be given that we will receive any funds in addition to the funds we have received to date. The successful outcome of future activities cannot be determined at this time and there is no assurance that, if achieved, we will have sufficient funds to execute our intended business plan or generate positive operating results. The unaudited condensed consolidated financial statements do not include any adjustments related to this uncertainty and as to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result should the Company be unable to continue as a going concern.

2. LOSS PER COMMON SHARE

2. LOSS PER COMMON SHARE	6 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
LOSS PER COMMON SHARE	2. LOSS PER COMMON SHARE Basic loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the period of computation. The weighted average number of common shares outstanding for the three and six months ended September 30, 2019 and 2018 included common shares underlying 2,857 and 3,075 vested restricted stock units, respectively. Diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional dilutive common shares that would have been outstanding if potential common shares had been issued, if such additional common shares were dilutive. Since we had net losses for all periods presented, basic and diluted loss per share are the same, and additional potential common shares have been excluded as their effect would be antidilutive. As of September 30, 2019 and 2018, an aggregate of 386,220 and 437,113 potential common shares, respectively, consisting of shares underlying outstanding stock options, warrants, unvested restricted stock units and convertible notes payable, were excluded as their inclusion would be antidilutive.

3. RESEARCH AND DEVELOPMENT EXP

3. RESEARCH AND DEVELOPMENT EXPENSES	6 Months Ended
	Sep. 30, 2019
Research and Development [Abstract]
RESEARCH AND DEVELOPMENT EXPENSES	3. RESEARCH AND DEVELOPMENT EXPENSES Our research and development costs are expensed as incurred. We incurred research and development expenses during the three and six month periods ended September 30, 2019 and 2018, which are included in various operating expense line items in the accompanying condensed consolidated statements of operations. Our research and development expenses in those periods were as follows: September 30, September 30, 2019 2018 Three months ended $ 222,857 $ 178,800 Six months ended $ 470,882 $ 402,566

4. RECENT ACCOUNTING PRONOUNCEM

4. RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Sep. 30, 2019
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	4. Recent Accounting Pronouncements The Company adopted ASU Topic 842 on April 1, 2019 utilizing the alternative transition method allowed for under this guidance. As a result, the Company recorded lease liabilities and right-of-use lease assets of $228,694 on its balance sheet as of April 1, 2019. The lease liabilities represent the present value of the remaining lease payments of the Company’s corporate headquarters lease (see Note 13), discounted using the Company’s incremental borrowing rate as of April 1, 2019. The corresponding right-of-use lease assets are recorded based on the lease liabilities and the cumulative difference between rent expense and amounts paid under its corporate headquarters lease. The Company also elected the short-term lease recognition exemption for its laboratory lease. For the laboratory lease that qualified as short-term, the Company did not recognize ROU assets or lease liabilities at adoption. The adoption of ASU 2016-02 did not have a material impact on either the statement of operations or statement of cash flows for the six months ended September 30, 2019. Topic 842 also allows lessees and lessors to elect certain practical expedients. The Company elected the following practical expedients: · Transitional practical expedients, which must be elected as a package and applied consistently to all of the Company’s leases: ° The Company need not reassess whether any expired or existing contracts are or contain leases. ° The Company need not reassess the lease classification for any expired or existing leases (that is, all existing leases that were classified as operating leases in accordance with the previous guidance will be classified as operating leases, and all existing leases that were classified as capital leases in accordance with the previous guidance will be classified as finance leases). ° The Company need not reassess initial direct costs for any existing leases. · Hindsight practical expedient. The Company elected the hindsight practical expedient in determining the lease term (that is, when considering lessee options to extend or terminate the lease and to purchase the underlying asset) and in assessing impairment of the Company’s right-of-use assets.

5. CONVERTIBLE NOTES PAYABLE, N

5. CONVERTIBLE NOTES PAYABLE, NET	6 Months Ended
	Sep. 30, 2019
Convertible Notes Payable [Abstract]
CONVERTIBLE NOTES PAYABLE, NET	5. CONVERTIBLE NOTES PAYABLE, NET In July 2019, we paid off our Convertible Notes Payable. We paid the remaining principal balance of $892,591 and accrued interest of $11,352. As a result, we did not incur any interest expense related to the Convertible Notes in the three months ended September 30, 2019. For the six months ended September 30, 2019, we recorded interest expense of $23,759 related to the contractual interest rates of our convertible notes and interest expense of $30,287 related to the amortization of the note discount for a total interest expense of $54,046 related to our convertible notes. Convertible Notes Payable, Net consisted of the following at March 31, 2019: Principal Unamortized Net Accrued Convertible Notes Payable, Net: November 2014 10% Convertible Notes (due July 1, 2019) $ 612,811 $ (18,701 ) $ 594,110 $ 37,309 December 2016 10% Convertible Notes (due July 1, 2019) 379,780 (11,589 ) 368,191 22,264 Total Convertible Notes Payable, Net $ 992,591 $ (30,290 ) $ 962,301 $ 59,573 During the six months ended September 30, 2018, we recorded interest expense of $49,630 related to the contractual interest rates of our convertible notes and interest expense of $60,574 related to the amortization of the note discount for a total interest expense of $110,204 related to our convertible notes in the six months ended September 30, 2018. All of the unamortized discount at September 30, 2018 related to the note discount established upon the June 2017 amendment to the November 2014 10% Convertible Notes and to the December 2016 10% Convertible Notes.

6. EQUITY TRANSACTIONS

6. EQUITY TRANSACTIONS	6 Months Ended
	Sep. 30, 2019
Equity [Abstract]
EQUITY TRANSACTIONS	6. EQUITY TRANSACTIONS IN THE SIX MONTHS ENDED SEPTEMBER 30, 2019 Common Stock Sales Agreement with H.C. Wainwright On June 28, 2016, we entered into a Common Stock Sales Agreement, or the Agreement, with H.C. Wainwright & Co., LLC, or H.C. Wainwright, which established an at-the-market equity program pursuant to which we may offer and sell shares of our common stock from time to time as set forth in the Agreement. The Agreement provides for the sale of shares of our common stock having an aggregate offering price of up to $12,500,000, or the Shares. On August 6, 2019, we executed Amendment No. 1 to the Agreement with H.C. Wainwright, effective as of August 5, 2019. The amendment provides that references in the Agreement to the registration statement shall refer to the registration statement on Form S-3 (File No. 333-231397), originally filed with the Securities and Exchange Commission on May 10, 2019, declared effective by the Securities and Exchange Commission on August 1, 2019. Subject to the terms and conditions set forth in the Agreement, H.C. Wainwright agreed to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell the Shares from time to time, based upon our instructions. We have provided H.C. Wainwright with customary indemnification rights, and H.C. Wainwright is entitled to a commission at a fixed rate equal to three percent (3.0%) of the gross proceeds per Share sold. In addition, we agreed to pay certain expenses incurred by H.C. Wainwright in connection with the Agreement, including up to $50,000 of the fees and disbursements of their counsel. The Agreement will terminate upon the sale of all of the Shares under the Agreement, unless terminated earlier by either party as permitted under the Agreement. Sales of the Shares, if any, under the Agreement will be made in transactions that are deemed to be “at the market offerings” as defined in Rule 415 under the Securities Act, including sales made by means of ordinary brokers’ transactions, including on the Nasdaq Capital Market, at market prices or as otherwise agreed with H.C. Wainwright. We have no obligation to sell any of the Shares, and, at any time, we may suspend offers under the Agreement or terminate the Agreement. In the six months ended September 30, 2019, we raised aggregate net proceeds of $423,234 (net of $13,213 in commissions to H.C. Wainwright and $3,997 in other offering expenses) under this Agreement through the sale of 62,427 shares at an average price of $6.78 per share of net proceeds. Restricted Stock Unit Grants Our Board of Directors established the 2012 Non-Employee Directors Compensation Program, as amended through August 2016, or the Non-Employee Directors Plan, pursuant to which, in addition to cash compensation, directors of the Company who are not also employees may be granted stock-based compensation in the form of restricted stock units, or RSU’s. The RSUs represent the right to be issued on a future date shares of our common stock for RSUs which have then vested. In April 2019, pursuant to the Non-Employee Directors Plan, we issued RSUs with a value of $35,000 to each of our non-employee directors, as the stock-based compensation element of their overall directors’ compensation, for the fiscal year ending March 31, 2020. Those grants were based on the closing price of our common stock on the one business day prior to the grant date, $14.25 per share. Therefore, 2,456 RSUs were issued to each of our five non-employee directors, for a total of 12,280 RSUs. All of the RSUs are subject to vesting in equal quarterly installments on June 30, 2019, September 30, 2019, December 31, 2019 and March 31, 2020. In April 2019, 2,859 vested RSUs held by our current and former executive officers were exchanged for the same number of shares of our common stock. As these executives elected to net settle a portion of their vested RSUs in exchange for the Company paying the related withholding taxes of $18,318 on the share issuance, 1,512 of the vested RSUs were cancelled and we issued a net 1,347 shares to the executives and former executive. In June 2019, 3,075 vested RSUs held by our non-employee directors were exchanged into the same number of shares of our common stock. Four of our five non-employee directors elected to return 40% of their vested RSUs in exchange for cash, in order to pay their withholding taxes on the share issuances, resulting in 984 of the vested RSUs being cancelled in exchange for $5,453 in aggregate cash proceeds to those independent directors. In July 2019, 2,861 vested RSUs held by our current and former executive officers were exchanged for the same number of shares of our common stock. As these executives elected to net settle a portion of their vested RSUs in exchange for the Company paying the related withholding taxes of $4,979 on the share issuance, 1,510 of the vested RSUs were cancelled and we issued a net 1,351 shares to the executives and former executive. In September 2019, 3,075 vested RSUs held by our non-employee directors were exchanged into the same number of shares of our common stock. Four of our five non-employee directors elected to return 40% of their vested RSUs in exchange for cash, in order to pay their withholding taxes on the share issuances, resulting in 984 of the vested RSUs being cancelled in exchange for $3,463 in aggregate cash proceeds to those independent directors. RSUs outstanding that have vested as of, and are expected to vest subsequent to, September 30, 2019 are as follows: Number of RSUs Vested 2,857 Expected to vest 8,997 Total 11,854 Common Stock for Warrant Cancellation During the six months ended September 30, 2019, we agreed with five accredited investors to issue 1,078 shares of our common stock to these investors in exchange for the cancellation of outstanding warrants then held by the investors to purchase 10,759 shares of our common stock. We measured the fair value of the shares issued and the fair value of the warrants exchanged for those shares and recorded a loss of $4,403 on those exchanges based on the changes in fair value between the instruments exchanged.

7. RELATED PARTY TRANSACTIONS

7. RELATED PARTY TRANSACTIONS	6 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	7. RELATED PARTY TRANSACTIONS During the three months ended September 30, 2019, we accrued unpaid fees of $69,750 owed to our non-employee directors as of September 30, 2019. For the six months ended September 30, 2019, we recorded $139,500 in fees to our non-employee directors. Amounts due to related parties were comprised of the following items: September 30, 2019 March 31, 2019 Accrued Board fees $ 69,750 $ 69,750 Accrued vacation to all employees 31,712 13,904 Total due to related parties $ 101,462 $ 83,654

8. OTHER CURRENT LIABILITIES

8. OTHER CURRENT LIABILITIES	6 Months Ended
	Sep. 30, 2019
Other Liabilities Disclosure [Abstract]
OTHER CURRENT LIABILITIES	8. OTHER CURRENT LIABILITIES Other current liabilities were comprised of the following items: September 30, March 31, 2019 2019 Accrued interest $ – $ 59,573 Accrued separation expenses for former executives 109,930 355,189 Accrued professional fees 175,281 231,238 Total other current liabilities $ 285,211 $ 646,000

9. STOCK COMPENSATION

9. STOCK COMPENSATION	6 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
STOCK COMPENSATION	9. STOCK COMPENSATION The following tables summarize share-based compensation expenses relating to RSUs and stock options and the effect on basic and diluted loss per common share during the three and six month periods ended September 30, 2019 and 2018: Three Months Three Months Six Months Six Months Vesting of stock options and restricted stock units $ 326,536 $ 336,496 $ 653,072 $ 599,658 Total stock-based compensation expense $ 326,536 $ 336,496 $ 653,072 $ 599,658 Weighted average number of common shares outstanding – basic and diluted 1,317,418 1,185,949 1,294,206 1,184,795 Basic and diluted loss per common share attributable to stock-based compensation expense $ (0.25 ) $ (0.28 ) $ (0.50 ) $ (0.51 ) All of the stock-based compensation expense recorded during the six months ended September 30, 2019 and 2018, which totaled $653,072 and $599,658, respectively, is included in payroll and related expense in the accompanying condensed consolidated statements of operations. Stock-based compensation expense recorded during the six months ended September 30, 2019 and 2018 represented an impact on basic and diluted loss per common share of $(0.50) and $(0.51), respectively. We review share-based compensation on a quarterly basis for changes to the estimate of expected award forfeitures based on actual forfeiture experience. The cumulative effect of adjusting the forfeiture rate for all expense amortization is recognized in the period the forfeiture estimate is changed. The effect of forfeiture adjustments for the six months ended September 30, 2019 was insignificant. Stock Option Activity We did not issue any stock options during the six months ended September 30, 2019 and September 30, 2018. Options outstanding that have vested and are expected to vest as of September 30, 2019 are as follows: Number of Weighted Weighted Vested 13,684 $ 113.27 3.21 Expected to vest 37,440 $ 18.85 8.24 Total 51,124 A summary of stock option activity during the six months ended September 30, 2019 is presented below: Amount Range of Weighted Stock options outstanding at March 31, 2019 59,111 $ 18.75 - 187.50 $ 56.85 Adjustment for reverse split 14 n/a n/a Exercised – $ – $ – Granted – $ – $ – Cancelled/Expired (8,001 ) $ 75.00 - 142.50 $ 138.75 Stock options outstanding at September 30, 2019 51,124 $ 18.75 - 187.50 $ 44.12 Stock options exercisable at September 30, 2019 13,684 $ 25.20 - 187.50 $ 113.27 On September 30, 2019, our stock options had no intrinsic value since the closing price on that date of $3.45 per share was below the weighted average exercise price of our outstanding stock options. At September 30, 2019, there was approximately $1,520,729 of unrecognized compensation cost related to share-based payments, which is expected to be recognized over a weighted average period of 1.2 years.

10. WARRANTS

10. WARRANTS	6 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
WARRANTS	10. WARRANTS During the six months ended September 30, 2019 and 2018, we did not issue any warrants. During the six months ended September 30, 2019, we agreed with five accredited investors to issue 1,078 shares of our common stock to these investors in exchange for the cancellation of outstanding warrants then held by the investors to purchase 10,759 shares of our common stock. We measured the fair value of the shares issued and the fair value of the warrants exchanged for those shares and recorded a loss of $4,403 on those exchanges based on the changes in fair value between the instruments exchanged. A summary of warrant activity during the six months ended September 30, 2019 is presented below: Amount Range of Weighted Warrants outstanding at March 31, 2019 342,992 $ 16.50 - 180.75 $ 38.10 Adjustment for reverse split 73 n/a n/a Cancelled/Expired (19,823 ) $ 64.50 - 180.75 $ 99.85 Warrants outstanding at September 30, 2019 323,242 $ 16.50 - 135.00 $ 38.26 Warrants exercisable at September 30, 2019 323,242 $ 16.50 - 135.00 $ 38.26

11. GOVERNMENT CONTRACTS AND GR

11. GOVERNMENT CONTRACTS AND GRANTS AND RELATED REVENUE RECOGNITION	6 Months Ended
	Sep. 30, 2019
Revenue Recognition [Abstract]
Government Contracts and Grants and Related Revenue Recognition	11. GOVERNMENT CONTRACTS AND RELATED REVENUE RECOGNITION We have entered into the following three contracts/grants with the National Cancer Institute, or NCI, part of the National Institutes of Health, or NIH, over the past two years: Phase 2 Melanoma Cancer Contract On September 12, 2019, the NCI awarded to us an SBIR Phase II Award Contract, for NIH/NCI Topic 359, entitled “A Device Prototype for Isolation of Melanoma Exosomes for Diagnostics and Treatment Monitoring”, or the Award Contract. The Award Contract amount is $1,860,561 and runs for the period from September 16, 2019 through September 15, 2021. The work to be performed pursuant to this Award Contract will focus on melanoma exosomes. This work follows from our completion of a Phase I contract for the Topic 359 solicitation that ran from September 2017 through June 2018 (see Phase 1 Melanoma Cancer Contract below). Following on the Phase I work, the deliverables in the Phase II program will involve the design and testing of a pre-commercial prototype of a more advanced version of the exosome isolation platform. No revenue was recognized under this contract in the three and six month periods ended September 30, 2019. Phase 1 Melanoma Cancer Contract We entered into a contract with the NIH on September 15, 2017. This award was under the NIH’s SBIR program which is designed to fund early stage small businesses that are seeking to commercialize innovative biomedical technologies. The title of the award is SBIR Topic 359 Phase 1 Device Strategy for Selective Isolation of Oncosomes and Non-Malignant Exosomes. The award from NIH was a firm, fixed-price contract with potential total payments to us of $299,250 over the course of nine months. Fixed price contracts require the achievement of multiple, incremental milestones to receive the full award during each period of the contract. The NIH also had the unilateral right to require us to perform additional work under an option period for an additional fixed amount of $49,800. Under the terms of the contract, we were required to perform certain incremental work toward the achievement of specific milestones against which we invoiced the government for fixed payment amounts. In the six months ended September 30, 2018, we performed work under the contract covering the remainder of the technical objectives of the contract Aim 1: To validate the Hemopurifier as a device for capture and recovery of melanoma exosomes from plasma, and Aim 2: To validate a method of melanoma exosome isolation consisting of the Hemopurifier followed by mab-based immunocapture to select out the tumor-derived exosomes from non-malignant exosomes and Aim 3: To evaluate the functional integrity of melanoma exosomes purified by the Hemopurifier and immunocapture isolation steps. As a result, we invoiced NIH for $149,625 during the six months ended September 30, 2018. The Phase 1 Melanoma Cancer Contract is now completed. Breast Cancer Grant In September 2018, the NCI awarded us a government grant (number 1R43CA232977-01). The title of this SBIR Phase I grant is “The Hemopurifier Device for Targeted Removal of Breast Cancer Exosomes from the Blood Circulation.” This NCI Phase I grant period originally ran from September 14, 2018 through August 31, 2019. In August 2019, we applied for and received a no cost, twelve month extension on this grant, so the expiration date was extended to August 31, 2020. The total amount of the firm grant is $298,444. The grant calls for two subcontractors to work with us. Those subcontractors are University of Pittsburgh and Massachusetts General Hospital. During the six months ended September 30, 2019, we recognized $30,000 in government contract revenue under this grant as a result of the work involved in one of the three technical objectives of the contract (Aim 2. “Elution of a population of breast cancer exosomes from Hemopurifier cartridges that bear the signatures of malignancy based on expression of CSPG4 and HER2, for triple-negative or HER2-overexpressing cancers, respectively”). We also invoiced the NCI an additional $100,000 in the six month period ended September 30, 2019 in order to pay our subcontractors under the contract. As we did not complete any of the technical objectives beyond Aim 2 noted above during the September period, we recorded this $100,000 as deferred revenue as of September 30, 2019.

12. SEGMENTS

12. SEGMENTS	6 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
SEGMENTS	12. SEGMENTS We operate our businesses principally through two reportable segments: Aethlon, which represents our therapeutic business activities, and Exosome Sciences, Inc., or ESI, which represents our diagnostic business activities. Our reportable segments have been determined based on the nature of the potential products being developed. We record discrete financial information for ESI and our chief operating decision maker reviews ESI’s operating results in order to make decisions about resources to be allocated to the ESI segment and to assess its performance. Aethlon’s revenue is generated primarily from government contracts to date and ESI does not yet have any revenues. We have not included any allocation of corporate overhead to the ESI segment. The following tables set forth certain information regarding our segments: Six Months Ended September 30, 2019 2018 Revenues: Aethlon $ 30,000 $ 149,625 ESI – – Total Revenues $ 30,000 $ 149,625 Operating Losses: Aethlon $ (3,256,142 ) $ (2,369,907 ) ESI (12,249 ) (74,319 ) Total Operating Loss $ (3,268,391 ) $ (2,444,226 ) Net Losses: Aethlon $ (3,761,662 ) $ (2,480,117 ) ESI (12,249 ) (74,319 ) Net Loss Before Non-Controlling Interests $ (3,773,911 ) $ (2,554,436 ) Cash: Aethlon $ 785,461 $ 5,076,872 ESI 197 1,733 Total Cash $ 785,658 $ 5,078,605 Total Assets: Aethlon $ 1,281,593 $ 5,270,690 ESI 197 1,733 Total Assets $ 1,281,790 $ 5,272,423 Capital Expenditures: Aethlon $ 119,981 $ – ESI – – Capital Expenditures $ 119,981 $ – Depreciation and Amortization: Aethlon $ 5,751 $ 16,040 ESI – – Total Depreciation and Amortization $ 5,751 $ 16,040 Interest Expense: Aethlon $ (54,106 ) $ (110,210 ) ESI – – Total Interest Expense $ (54,106 ) $ (110,210 )

13. COMMITMENTS AND CONTINGENCI

13. COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	13. COMMITMENTS AND CONTINGENCIES CONTRACTUAL OBLIGATIONS AND COMMITMENTS There have been no material changes to our contractual obligations and commitments outside the ordinary course of business from those disclosed under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations-Contractual Obligations and Commitments” as contained in our Annual Report on Form 10-K for the year ended March 31, 2019 filed by us with the SEC on July 1, 2019. LEASE COMMITMENTS We currently lease approximately 2,600 square feet of executive office space at 9635 Granite Ridge Drive, Suite 100, San Diego , We also rent approximately 1,700 square feet of laboratory space at 11585 Sorrento Valley Road, Suite 109, San Diego, California 92121 at the rate of $4,700 per month on a one-year lease that expires on November 30, 2019. In October 2019, we entered into a lease extension for an additional twelve months running from December 1, 2019 through November 30, 2020 at the rate of $5,961 per month (see Note 14). Rent expense, which is included in general and administrative expenses, approximated $47,000 and $34,000 for the three month periods ended September 30, 2019 and 2018, respectively. For the six month periods ended September 30, 2019 and 2018, rent expense approximated $87,000 and $84,000, respectively. Future minimum lease payments under the Granite Ridge Lease as of September 30, 2019, are as follows: October 1, 2019 through March 31, 2020 $ 49,591 April 1, 2020 through March 31, 2021 102,074 April 1, 2021 through August 31, 2021 43,670 Total future minimum lease payments 195,335 Less: discount (7,850 ) Total lease liability $ 187,485 On April 1, 2019, we recorded a lease liability and ROU lease asset for the Granite Ridge Lease based on the present value of lease payments over the expected remaining lease term of 2.2 years, discounted using our estimated incremental borrowing rate of 4%. For the six months ended September 30, 2019, reduction of the right-of-use lease asset was $45,676 and reduction of the lease liability was $44,916, which resulted in a net increase in the right-of-use lease asset of $760 during the period (See Note 4). LEGAL MATTERS From time to time, claims are made against us in the ordinary course of business, which could result in litigation. Claims and associated litigation are subject to inherent uncertainties and unfavorable outcomes could occur, such as monetary damages, fines, penalties or injunctions prohibiting us from selling one or more products or engaging in other activities. The occurrence of an unfavorable outcome in any specific period could have a material adverse effect on our results of operations for that period or future periods. We are not presently a party to any pending or threatened legal proceedings.

14. SUBSEQUENT EVENTS

14. SUBSEQUENT EVENTS	6 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	14. SUBSEQUENT EVENTS Management has evaluated events subsequent to September 30, 2019 through the date that the accompanying condensed consolidated financial statements were filed with the SEC for transactions and other events which may require adjustment of and/or disclosure in such financial statements. Reverse Split – FDA Approval of IDE for Oncology Indications – Restricted Stock Unit (“RSU”) Issuances ATM Sales Government Contract Funding – In October 2019, we billed the NCI for $206,729 after achieving the first milestone in our Phase 2 Melanoma Cancer Contract.

1. NATURE OF BUSINESS AND BAS_2

1. NATURE OF BUSINESS AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Leases	Leases At lease commencement, the Company records a lease liability based on the present value of lease payments over the expected lease term. The Company calculates the present value of lease payments using the discount rate implicit in the lease, unless that rate cannot be readily determined. In that case, the Company uses its incremental borrowing rate, which is the rate of interest that the Company would have to pay to borrow on a collateralized basis an amount equal to the lease payments over the expected lease term. The Company records a corresponding right-of-use lease asset based on the lease liability, adjusted for any lease incentives received and any initial direct costs paid to the lessor prior to the lease commencement date. After lease commencement, the Company measures its leases as follows: (i) the lease liability based on the present value of the remaining lease payments using the discount rate determined at lease commencement; and (ii) the right-of-use lease asset based on the remeasured lease liability, adjusted for any unamortized lease incentives received, any unamortized initial direct costs and the cumulative difference between rent expense and amounts paid under the lease agreement. Rent expense is recorded on a straight-line basis over the expected lease term (See Note 4).
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 8 of the Securities and Exchange Commission (SEC) Regulation S-X. Accordingly, they should be read in conjunction with the audited financial statements and notes thereto for the fiscal year ended March 31, 2019, included in the Company's Annual Report on Form 10-K filed with the SEC on July 1, 2019. The accompanying unaudited condensed consolidated financial statements include the accounts of Aethlon Medical, Inc. and its majority-owned subsidiary. All significant inter-company transactions and balances have been eliminated in consolidation. The unaudited condensed consolidated financial statements contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the condensed consolidated financial statements as of and for the three and six months ended September 30, 2019, and the condensed consolidated statement of cash flows for the six months ended September 30, 2019. Estimates were made relating to useful lives of fixed assets, impairment of assets, share-based compensation expense and accruals for clinical trial and research and development expenses. Actual results could differ materially from those estimates. The accompanying condensed consolidated balance sheet at March 31, 2019 has been derived from the audited consolidated balance sheet at March 31, 2019, contained in the above referenced 10-K. The results of operations for the three and six months ended September 30, 2019 are not necessarily indicative of the results to be expected for the full year or any future interim periods.
Reclassifications	Reclassifications Certain prior year balances within the unaudited condensed consolidated financial statements have been reclassified to conform to the current year presentation.
LIQUIDITY AND GOING CONCERN	LIQUIDITY AND GOING CONCERN The accompanying condensed consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the ordinary course of business. We have incurred continuing losses from operations and at September 30, 2019 had an accumulated deficit of approximately $109,424,000. These factors, among other matters, raise substantial doubt about our ability to continue as a going concern for the twelve months from the issuance of these financial statements. A significant amount of additional capital will be necessary to advance the development of our products to the point at which they may become commercially viable. We intend to fund operations, working capital and other cash requirements through at least twelve months from the issuance date of these condensed consolidated financial statements through equity and/or debt financing arrangements as well as through revenues and related cash receipts under our government contracts (see Note 11). Significant additional financing must be obtained in order to provide a sufficient source of operating capital and to allow us to continue to operate as a going concern and to meet our liquidity needs for a twelve month period from the date of this filing. In addition, we will need to raise capital to complete anticipated future human clinical trials in the U.S. We anticipate the primary sources of this additional financing will be from proceeds of our at-the-market offering program, pursuant to our Form S-3 Registration Statement, debt financing and other forms of equity placements. However, no assurance can be given that we will receive any funds in addition to the funds we have received to date. The successful outcome of future activities cannot be determined at this time and there is no assurance that, if achieved, we will have sufficient funds to execute our intended business plan or generate positive operating results. The unaudited condensed consolidated financial statements do not include any adjustments related to this uncertainty and as to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result should the Company be unable to continue as a going concern.

3. RESEARCH AND DEVELOPMENT E_2

3. RESEARCH AND DEVELOPMENT EXPENSES (Tables)	6 Months Ended
	Sep. 30, 2019
Research and Development [Abstract]
Research and Development expenses	September 30, September 30, 2019 2018 Three months ended $ 222,857 $ 178,800 Six months ended $ 470,882 $ 402,566

5. CONVERTIBLE NOTES PAYABLE (T

5. CONVERTIBLE NOTES PAYABLE (Tables)	6 Months Ended
	Sep. 30, 2019
Convertible Notes Payable [Abstract]
Convertible notes payable	Principal Unamortized Net Accrued Convertible Notes Payable, Net: November 2014 10% Convertible Notes (due July 1, 2019) $ 612,811 $ (18,701 ) $ 594,110 $ 37,309 December 2016 10% Convertible Notes (due July 1, 2019) 379,780 (11,589 ) 368,191 22,264 Total Convertible Notes Payable, Net $ 992,591 $ (30,290 ) $ 962,301 $ 59,573

6. EQUITY TRANSACTIONS (Tables)

6. EQUITY TRANSACTIONS (Tables)	6 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Schedule of RSU activity	Number of RSUs Vested 2,857 Expected to vest 8,997 Total 11,854

7. RELATED PARTY TRANSACTIONS (

7. RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Due to related parties	September 30, 2019 March 31, 2019 Accrued Board fees $ 69,750 $ 69,750 Accrued vacation to all employees 31,712 13,904 Total due to related parties $ 101,462 $ 83,654

8. OTHER CURRENT LIABILITIES (T

8. OTHER CURRENT LIABILITIES (Tables)	6 Months Ended
	Sep. 30, 2019
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	September 30, March 31, 2019 2019 Accrued interest $ – $ 59,573 Accrued separation expenses for former executives 109,930 355,189 Accrued professional fees 175,281 231,238 Total other current liabilities $ 285,211 $ 646,000

9. STOCK COMPENSATION (Tables)

9. STOCK COMPENSATION (Tables)	6 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-based compensation expense relating to RSUs	Three Months Three Months Six Months Six Months Vesting of stock options and restricted stock units $ 326,536 $ 336,496 $ 653,072 $ 599,658 Total stock-based compensation expense $ 326,536 $ 336,496 $ 653,072 $ 599,658 Weighted average number of common shares outstanding – basic and diluted 1,317,418 1,185,949 1,294,206 1,184,795 Basic and diluted loss per common share attributable to stock-based compensation expense $ (0.25 ) $ (0.28 ) $ (0.50 ) $ (0.51 )
Options outstanding that have vested and are expected to vest	Number of Weighted Weighted Vested 13,684 $ 113.27 3.21 Expected to vest 37,440 $ 18.85 8.24 Total 51,124
Schedule of stock option activity	Amount Range of Weighted Stock options outstanding at March 31, 2019 59,111 $ 18.75 - 187.50 $ 56.85 Adjustment for reverse split 14 n/a n/a Exercised – $ – $ – Granted – $ – $ – Cancelled/Expired (8,001 ) $ 75.00 - 142.50 $ 138.75 Stock options outstanding at September 30, 2019 51,124 $ 18.75 - 187.50 $ 44.12 Stock options exercisable at September 30, 2019 13,684 $ 25.20 - 187.50 $ 113.27

10. WARRANTS (Tables)

10. WARRANTS (Tables)	6 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Schedule of Warrant Activity	Amount Range of Weighted Warrants outstanding at March 31, 2019 342,992 $ 16.50 - 180.75 $ 38.10 Adjustment for reverse split 73 n/a n/a Cancelled/Expired (19,823 ) $ 64.50 - 180.75 $ 99.85 Warrants outstanding at September 30, 2019 323,242 $ 16.50 - 135.00 $ 38.26 Warrants exercisable at September 30, 2019 323,242 $ 16.50 - 135.00 $ 38.26

12. SEGMENTS (Tables)

12. SEGMENTS (Tables)	6 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of segments	Six Months Ended September 30, 2019 2018 Revenues: Aethlon $ 30,000 $ 149,625 ESI – – Total Revenues $ 30,000 $ 149,625 Operating Losses: Aethlon $ (3,256,142 ) $ (2,369,907 ) ESI (12,249 ) (74,319 ) Total Operating Loss $ (3,268,391 ) $ (2,444,226 ) Net Losses: Aethlon $ (3,761,662 ) $ (2,480,117 ) ESI (12,249 ) (74,319 ) Net Loss Before Non-Controlling Interests $ (3,773,911 ) $ (2,554,436 ) Cash: Aethlon $ 785,461 $ 5,076,872 ESI 197 1,733 Total Cash $ 785,658 $ 5,078,605 Total Assets: Aethlon $ 1,281,593 $ 5,270,690 ESI 197 1,733 Total Assets $ 1,281,790 $ 5,272,423 Capital Expenditures: Aethlon $ 119,981 $ – ESI – – Capital Expenditures $ 119,981 $ – Depreciation and Amortization: Aethlon $ 5,751 $ 16,040 ESI – – Total Depreciation and Amortization $ 5,751 $ 16,040 Interest Expense: Aethlon $ (54,106 ) $ (110,210 ) ESI – – Total Interest Expense $ (54,106 ) $ (110,210 )

13. COMMITMENTS AND CONTINGEN_2

13. COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Lease commitments	October 1, 2019 through March 31, 2020 $ 49,591 April 1, 2020 through March 31, 2021 102,074 April 1, 2021 through August 31, 2021 43,670 Total future minimum lease payments 195,335 Less: discount (7,850 ) Total lease liability $ 187,485

1. NATURE OF BUSINESS AND BAS_3

1. NATURE OF BUSINESS AND BASIS OF PRESENTATION (Details Narrative) - USD ($)	6 Months Ended
	Sep. 30, 2019	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reverse stock split	On October 14, 2019, the Company completed a 1-for-15 reverse stock split. Accordingly, 15 shares of outstanding common stock held by stockholders were combined into one share of common stock
Accumulated deficit	$ (109,423,894)	$ (105,652,433)

2. LOSS PER COMMON SHARE (Detai

2. LOSS PER COMMON SHARE (Details- Narrative) - shares	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Weighted average common shares outstanding	1,317,418	1,185,949	1,294,206	1,184,795
Antidilutive shares			386,220	437,113
Vested Stock Units [Member]
Weighted average common shares outstanding	2,857	2,857	3,075	3,075

3. RESEARCH AND DEVELOPMENT E_3

3. RESEARCH AND DEVELOPMENT EXPENSES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Research and Development [Abstract]
Research and development expense	$ 222,857	$ 178,800	$ 470,882	$ 402,566

4. RECENT ACCOUNTING PRONOUNC_2

4. RECENT ACCOUNTING PRONOUNCEMENTS (Details- Narrative) - USD ($)	Sep. 30, 2019	Apr. 02, 2019	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
Right of use assets	$ 183,018	$ 228,694	$ 0

5. CONVERTIBLE NOTES PAYABLE (D

5. CONVERTIBLE NOTES PAYABLE (Details - Convertible notes)	Mar. 31, 2019USD ($)
Convertible notes payable, principal	$ 992,591
Unamortized discount	(30,290)
Convertible notes payable, net	962,301
Accrued interest	59,573
November 2014 10% Convertible Notes [Member]
Convertible notes payable, principal	612,811
Unamortized discount	(18,701)
Convertible notes payable, net	594,110
Accrued interest	37,309
December 2016 10% Convertible Notes [Member]
Convertible notes payable, principal	379,780
Unamortized discount	(11,589)
Convertible notes payable, net	368,191
Accrued interest	$ 22,264

5. CONVERTIBLE NOTES PAYABLE _2

5. CONVERTIBLE NOTES PAYABLE (Details Narrative) - USD ($)	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Convertible Notes Payable [Abstract]
Repayment of convertible notes	$ 992,591	$ 0
Repayment of accrued interest	11,352
Interest expense, debt	23,759	49,630
Amortization of debt discounts	30,287	60,574
Total interest expense	$ 54,046	$ 110,204

6. EQUITY TRANSACTIONS (Details

6. EQUITY TRANSACTIONS (Details - RSU's outstanding) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Sep. 30, 2019shares
RSU's vested	2,857
RSU's expected to vest	8,997
Total RSU's outstanding	11,854

6. EQUITY TRANSACTIONS (Detai_2

6. EQUITY TRANSACTIONS (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended			4 Months Ended	6 Months Ended
	Apr. 30, 2019	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2018	Jul. 31, 2019	Sep. 30, 2019	Sep. 30, 2018
Payments to satify tax withholding						$ 32,212	$ 85,769
Loss on share for warrant exchanges		$ 4,403		$ 0		$ 4,403	$ 0
Restricted Stock Units (RSUs) [Member] | Non-Employee Directors Plan [Member]
Stock issued for compensation, value	$ 35,000
RSU's granted	12,280
RSU's exchanged for common stock, RSU's exchanged	2,859		3,075		2,861	3,075
RSU's exchanged for common stock, Common stock issued	2,859		3,075		2,861	3,075
Stock cancelled in exchange for withholding tax, shares	1,512		984		1,510	984
Stock issued as net settlement	1,347				1,351
Payments to satify tax withholding	$ 18,318		$ 5,453		$ 7,979	$ 3,463
Five Accredited investors [Member] | Warrants [Member]
Warrants cancelled						5,390
Loss on share for warrant exchanges						$ 4,403
Common Stock Sales Agreement [Member]
Proceeds from issuance of common stock and warrants						$ 423,234
Stock issued new, shares issued						62,427
Stock sale - average price per share						$ 6.78
Common Stock Sales Agreement [Member] | H.C. Wainwright [Member]
Payment of commissions						$ 13,213
Payment of stock issuance costs						$ 3,997

7. RELATED PARTY TRANSACTIONS_2

7. RELATED PARTY TRANSACTIONS (Details) - USD ($)	Sep. 30, 2019	Mar. 31, 2019
Due to related parties	$ 101,462	$ 83,654
Accrued board fees [Member]
Due to related parties	69,750	69,750
Accrued vacation [Member]
Due to related parties	$ 31,712	$ 13,904

7. RELATED PARTY TRANSACTIONS_3

7. RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Related Party Transactions [Abstract]
Director fees	$ 69,750	$ 139,500

8. OTHER CURRENT LIABILITIES (D

8. OTHER CURRENT LIABILITIES (Details) - USD ($)	Sep. 30, 2019	Mar. 31, 2019
Other Liabilities, Current [Abstract]
Accrued interest	$ 0	$ 59,573
Accrued separation expense for former executives	109,930	355,189
Accrued professional fees	175,281	231,238
Total other current liabilities	$ 285,211	$ 646,000

9. STOCK COMPENSATION (Details

9. STOCK COMPENSATION (Details - Stock compensation) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Total stock-based compensation expense	$ 326,536	$ 336,496	$ 653,072	$ 599,658
Weighted average number of common shares outstanding- basic and diluted	1,317,418	1,185,949	1,294,206	1,184,795
Basic and diluted loss per common share attributable to stock-based compensation expense	$ (1.29)	$ (1.17)	$ (2.91)	$ (2.14)
Vesting of stock options and restricted stock units [Member]
Total stock-based compensation expense	$ 326,536	$ 336,496	$ 653,072	$ 599,658
Share-Based Compensation [Member]
Basic and diluted loss per common share attributable to stock-based compensation expense	$ (0.25)	$ (0.28)	$ (0.50)	$ (0.51)

9. STOCK COMPENSATION (Detail_2

9. STOCK COMPENSATION (Details - Options vested and expected to vest) - Options [Member]	6 Months Ended
	Sep. 30, 2019$ / sharesshares
Options vested	13,684
Options expected to vest	37,440
Total options outstanding	51,124
Weighted average exercise price options vested | $ / shares	$ 113.27
Weighted average exercise price options expected to vest | $ / shares	$ 18.85
Weighted average remaining contractual term options vested	3 years 2 months 16 days
Weighted average remaining contractual term options expected to vest	8 years 2 months 27 days

9. STOCK COMPENSATION (Detail_3

9. STOCK COMPENSATION (Details - Option activity) - Stock Options [Member] - $ / shares	6 Months Ended
	Sep. 30, 2019	Mar. 31, 2019
Stock options Outstanding, beginning balance	59,111
Adjustment for reverse split	14
Stock options granted	0
Stock options exercised	0
Stock options cancelled/forfeited	(8,001)
Stock options outstanding, ending balance	51,124
Stock options exercisable		13,684
Range of exercise prices, Option beginning	$18.75- $187.50
Range of exercise prices, Option cancelled/expired	$75.00 - $142.50
Range of exercise prices, Option ending	$18.75 - $187.50
Range of exercise prices, Option exercisable	$25.20 - $187.50
Outstanding, Weighted Average Exercise Price, beginning price	$ 56.85
Cancelled/Forfeited, Weighted Average Exercise Price	138.75
Outstanding Weighted Average Exercise Price, ending price	$ 44.12
Exercisable, Weighted Average Exercise Price		$ 113.27

9. STOCK COMPENSATION (Details-

9. STOCK COMPENSATION (Details- Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Stock based compensation	$ 326,536	$ 336,496	$ 653,072	$ 599,658
Unrecognized compensation costs	1,520,729		$ 1,520,729
Unrecognized compensation cost amortization period			1 year 2 months 12 days
Stock Options [Member]
Intrinsic value	$ 0		$ 0

10. WARRANTS (Details)

10. WARRANTS (Details) - Warrants [Member]	6 Months Ended
	Sep. 30, 2019$ / sharesshares
Number of Warrants
Number of Warrants Outstanding, Beginning	342,992
Adjustment for reverse split	73
Number of Warrants Cancelled/Expired	(19,823)
Number of Warrants Outstanding, Ending	323,242
Number of Warrants Exercisable, Ending	323,242
Weighted Average Exercise Price
Weighted Average Exercise Price Outstanding, Beginning	$16.50 - $180.75
Weighted Average Exercise Price Expired	$64.50 - $180.75
Weighted Average Exercise Price Outstanding, Ending	$16.50 - $135.00
Weighted Average Exercise Price Exercisable	$16.50 - $135.00
Weighted Average Exercise Price Outstanding, Beginning | $ / shares	$ 38.10
Weighted Average Exercise Price Expired | $ / shares	99.85
Weighted Average Exercise Price Outstanding, Ending | $ / shares	38.26
Weighted Average Exercise Price Exercisable | $ / shares	$ 38.26

10. WARRANTS (Details Narrative

10. WARRANTS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Loss on share for warrant exchanges	$ 4,403	$ 0	$ 4,403	$ 0
Five Accredited investors [Member] | Warrants [Member]
Warrants cancelled			5,390
Loss on share for warrant exchanges			$ 4,403

11. GOVERNMENT CONTRACTS AND _2

11. GOVERNMENT CONTRACTS AND GRANTS AND RELATED REVENUE RECOGNITION (Details) - USD ($)	3 Months Ended	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Mar. 31, 2019
Deferred revenue	$ 100,000	$ 100,000	$ 0
Melanoma Cancer Contract Phase 2 [Member]
Contract revenue	0	0
Melanoma Cancer Contract Phase 1 [Member]
Contract revenue	149,625
Breast Cancer Grant [Member]
Contract revenue		30,000
Deferred revenue	$ 100,000	$ 100,000

12. SEGMENTS (Details)

12. SEGMENTS (Details) - USD ($)	3 Months Ended				6 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 0		$ 0		$ 30,000	$ 149,625
Operating Losses	(1,702,202)		(1,346,954)		(3,268,391)	(2,444,226)
Net Losses	(1,706,626)	$ (2,067,284)	(1,402,060)	$ (1,152,376)	(3,773,911)	(2,554,436)
Cash	785,658		5,078,605		785,658	5,078,605	$ 3,828,074	$ 6,974,070
Total Assets	1,281,790		5,272,423		1,281,790	5,272,423	$ 4,122,964
Capital Expenditures					119,981	0
Depreciation and Amortization					5,751	16,040
Interest Expense	21		55,106		54,106	110,210
Aethlon
Revenues					30,000	149,625
Operating Losses					(3,256,142)	(2,369,907)
Net Losses					(3,761,662)	(2,480,117)
Cash	785,461		5,076,872		785,461	5,076,872
Total Assets	1,281,593		5,270,690		1,281,593	5,270,690
Capital Expenditures					119,981	0
Depreciation and Amortization					5,751	16,040
Interest Expense					54,106	110,210
ESI [Member]
Revenues					0	0
Operating Losses					(12,249)	(74,319)
Net Losses					(12,249)	(74,319)
Cash	197		1,733		197	1,733
Total Assets	$ 197		$ 1,733		197	1,733
Capital Expenditures					0	0
Depreciation and Amortization					0	0
Interest Expense					$ 0	$ 0

13. COMMITMENTS AND CONTINGEN_3

13. COMMITMENTS AND CONTINGENCIES (Details - Rent) - 9635 Granite Ridge Drive [Member]	Sep. 30, 2019USD ($)
Operating lease payments year 2020	$ 49,591
Operating lease payments year 2021	102,074
Operating lease payments year 2022	43,670
Total lease payments	195,335
Less: Discount	(7,850)
Total lease liability	$ 187,485

13. COMMITMENTS AND CONTINGEN_4

13. COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 47,000	$ 34,000	$ 87,000	$ 84,000
Operating lease term	2 years 2 months 12 days		2 years 2 months 12 days
Operating lease discount rate	4.00%		4.00%
Amortization of right to use asset			$ 45,676
Amortization of lease liability			44,916
Accretion of right to use asset			$ 760