Aethlon Medical (AEMD) 10-Q 14 Feb 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Dec. 31, 2021	Feb. 11, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--03-31
Entity File Number	001-37487
Entity Registrant Name	AETHLON MEDICAL, INC.
Entity Central Index Key	0000882291
Entity Tax Identification Number	13-3632859
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	11555 SORRENTO VALLEY ROAD
Entity Address, Address Line Two	SUITE 203
Entity Address, City or Town	SAN DIEGO
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92121
City Area Code	619
Local Phone Number	941-0360
Title of 12(b) Security	Common Stock
Trading Symbol	AEMD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,408,231

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Dec. 31, 2021	Mar. 31, 2021
Current assets
Cash	$ 20,394,536	$ 9,861,575
Accounts receivable	131,966	149,082
Prepaid expenses and other current assets	683,722	341,081
Total current assets	21,210,224	10,351,738
Property and equipment, net	254,024	160,976
Right-of-use lease asset	328,869	40,363
Patents, net	2,338	56,954
Restricted cash	87,506	46,726
Deposits	33,305	12,159
Total assets	21,916,266	10,668,916
Current liabilities
Accounts payable	234,118	337,678
Due to related parties	130,375	118,520
Deferred revenue	229,698	114,849
Lease liability, current portion	53,545	42,543
Other current liabilities	421,956	761,636
Total current liabilities	1,069,692	1,375,226
Lease liability, less current portion	287,221
Total liabilities	1,356,913	1,375,226
Stockholders’ Equity
Common stock, par value $0.001 per share; 30,000,000 shares authorized; 15,408,231 and 12,150,597 shares issued and outstanding as of December 31, 2021 and March 31, 2021, respectively	15,410	12,152
Additional paid-in capital	147,229,134	129,331,542
Accumulated deficit	(126,544,103)	(119,913,090)
Total Aethlon Medical, Inc. stockholders’ equity before noncontrolling interests	20,700,441	9,430,604
Noncontrolling interests	(141,088)	(136,914)
Total stockholders’ equity	20,559,353	9,293,690
Total liabilities and stockholders’ equity	$ 21,916,266	$ 10,668,916

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2021	Mar. 31, 2021
Statement of Financial Position [Abstract]
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	15,408,231	12,150,597
Common stock outstanding	15,408,231	12,150,597

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
REVENUES
Government contract revenue	$ 17,117	$ 624,871	$ 281,049	$ 624,871
OPERATING EXPENSES
Professional fees	433,404	624,979	1,666,333	1,845,659
Payroll and related expenses	999,500	1,523,650	2,821,850	2,520,805
General and administrative	1,112,159	920,632	2,428,053	1,885,332
Total operating expenses	2,545,063	3,069,261	6,916,236	6,251,796
OPERATING LOSS	(2,527,946)	(2,444,390)	(6,635,187)	(5,626,925)
NET LOSS	(2,527,946)	(2,444,390)	(6,635,187)	(5,626,925)
LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(2,214)	(1,498)	(4,174)	(3,186)
NET LOSS ATTRIBUTABLE TO AETHLON MEDICAL, INC.	$ (2,525,732)	$ (2,442,892)	$ (6,631,013)	$ (5,623,739)
BASIC AND DILUTED LOSS PER COMMON SHARE	$ (0.16)	$ (0.20)	$ (0.46)	$ (0.50)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING – BASIC AND DILUTED	15,397,418	12,093,361	14,543,787	11,265,725

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Mar. 31, 2020	$ 9,368	$ 121,426,563	$ (112,026,381)	$ (132,124)	$ 9,277,426
Balance at beginning, shares at Mar. 31, 2020	9,366,873
Issuances of common stock for cash under at the market program	$ 2,686	7,258,183			7,260,869
Issuances of common stock for cash under at the market program, shares	2,685,600
Issuance of common shares upon vesting of restricted stock units	$ 18	(24,269)			(24,251)
Issuance of common shares upon vesting of restricted stock units, shares	17,920
Stock-based compensation expense		84,207			84,207
Net loss			(1,410,283)	(863)	(1,411,146)
Ending balance, value at Jun. 30, 2020	$ 12,072	128,744,684	(113,436,664)	(132,987)	15,187,105
Balance at ending, shares at Jun. 30, 2020	12,070,393
Issuance of common shares upon vesting of restricted stock units	$ 17	(16,145)			(16,128)
Issuance of common shares upon vesting of restricted stock units, shares	17,920
Stock-based compensation expense		167,042			167,042
Net loss			(1,770,564)	(825)	(1,771,389)
Ending balance, value at Sep. 30, 2020	$ 12,089	128,895,581	(115,207,228)	(133,812)	13,566,630
Balance at ending, shares at Sep. 30, 2020	12,088,313
Issuance of common shares upon vesting of restricted stock units and net stock option exercise	$ 36	(66,048)			(66,012)
Issuance of common shares upon vesting of restricted stock units and net stock option exercise, shares	35,211
Stock-based compensation expense		377,958			377,958
Net loss			(2,442,892)	(1,498)	(2,444,390)
Ending balance, value at Dec. 31, 2020	$ 12,125	129,207,491	(117,650,120)	(135,310)	11,434,186
Balance at ending, shares at Dec. 31, 2020	12,123,524
Beginning balance, value at Mar. 31, 2021	$ 12,152	129,331,542	(119,913,090)	(136,914)	9,293,690
Balance at beginning, shares at Mar. 31, 2021	12,150,597
Issuances of common stock for cash under at the market program	$ 626	4,947,159			4,947,785
Issuances of common stock for cash under at the market program, shares	626,000
Issuances of common stock for cash in registered direct financing	$ 1,381	11,657,663			11,659,044
Issuances of common stock for cash in registered direct financing, shares	1,380,555
Issuances of common stock for cash under warrant exercises	$ 531	820,407			820,938
Issuances of common stock for cash under warrant exercises, shares	531,167
Issuances of common stock for cash under stock option exercises	$ 11	28,314			28,325
Issuances of common stock for cash under stock option exercises, shares	11,562
Issuances of common stock under cashless warrant exercises	$ 676	(676)
Issuances of common stock under cashless warrant exercises, shares	675,554
Issuance of common shares upon vesting of restricted stock units	$ 11	(35,797)			(35,786)
Issuance of common shares upon vesting of restricted stock units, shares	10,932
Stock-based compensation expense		120,154			120,154
Net loss			(2,097,303)	(1,135)	(2,098,438)
Ending balance, value at Jun. 30, 2021	$ 15,388	146,868,766	(122,010,393)	(138,049)	24,735,712
Balance at ending, shares at Jun. 30, 2021	15,386,367
Beginning balance, value at Mar. 31, 2021	$ 12,152	129,331,542	(119,913,090)	(136,914)	9,293,690
Balance at beginning, shares at Mar. 31, 2021	12,150,597
Ending balance, value at Dec. 31, 2021	$ 15,410	147,229,134	(126,544,103)	(141,088)	20,559,353
Balance at ending, shares at Dec. 31, 2021	15,408,231
Beginning balance, value at Jun. 30, 2021	$ 15,388	146,868,766	(122,010,393)	(138,049)	24,735,712
Balance at beginning, shares at Jun. 30, 2021	15,386,367
Issuance of common shares upon vesting of restricted stock units	$ 11	(28,145)			(28,134)
Issuance of common shares upon vesting of restricted stock units, shares	10,932
Stock-based compensation expense		201,062			201,062
Net loss			(2,007,978)	(825)	(2,008,803)
Ending balance, value at Sep. 30, 2021	$ 15,399	147,041,683	(124,018,371)	(138,874)	22,899,837
Balance at ending, shares at Sep. 30, 2021	15,397,299
Issuance of common shares upon vesting of restricted stock units	$ 11	(13,568)			(13,557)
Stock-based compensation expense		201,019			201,019
Net loss			(2,525,732)	(2,214)	(2,527,946)
Ending balance, value at Dec. 31, 2021	$ 15,410	$ 147,229,134	$ (126,544,103)	$ (141,088)	$ 20,559,353
Balance at ending, shares at Dec. 31, 2021	15,408,231

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows used in operating activities:
Net loss	$ (6,635,187)	$ (5,626,925)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	98,363	28,775
Stock based compensation	522,234	629,207
Accretion of right-of-use lease asset	9,717	(1,723)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(342,641)	153,775
Accounts receivable	17,116	91,880
Deposits	(21,146)
Accounts payable and other current liabilities	(443,239)	278,663
Deferred revenue	114,849	(100,000)
Due to related parties	11,855	20,039
Net cash used in operating activities	(6,668,079)	(4,526,309)
Cash flows used in investing activities:
Purchases of property and equipment	(136,795)	(54,630)
Net cash used in investing activities	(136,795)	(54,630)
Cash flows provided by financing activities:
Proceeds from the issuance of common stock, net	17,456,092	7,260,869
Tax withholding payments or tax equivalent payments for net share settlement of restricted stock units and net stock option expense	(77,477)	(106,391)
Net cash provided by financing activities	17,378,615	7,154,478
Net increase in cash and restricted cash	10,573,741	2,573,539
Cash and restricted cash at beginning of period	9,908,301	9,604,780
Cash and restricted cash at end of period	20,482,042	12,178,319
Supplemental disclosures of non-cash investing and financing activities:
Issuance of common stock under cashless warrant exercises	676	0
Par value of shares issued for vested restricted stock units and net stock option exercise	33	71
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents	20,394,536	12,131,593
Restricted cash	87,506	46,726
Cash and restricted cash	$ 20,482,042	$ 12,178,319

NATURE OF BUSINESS AND BASIS OF

NATURE OF BUSINESS AND BASIS OF PRESENTATION ORGANIZATION	9 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
NATURE OF BUSINESS AND BASIS OF PRESENTATION ORGANIZATION	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 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 is designed to deplete 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 conducting a clinical trial in patients with advanced and metastatic head and neck cancer. We are initially focused on the treatment of solid tumors, including head and neck cancer, gastrointestinal cancers and other cancers. As we advance our clinical trials, we are in close contact with our clinical sites to navigate and assess the impact of the COVID-19 global pandemic on our clinical trials and current timelines. 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 is designed to enroll 10 to 12 subjects at a single center, is safety, with secondary endpoints including measures of exosome clearance and characterization, as well as response and survival rates. This study, which is being conducted at the UPMC Hillman Cancer Center in Pittsburgh, PA, has treated two patients and is in the process of recruiting additional patients. We are considering adding one or more additional sites to this trial to accelerate patient recruitment and we are also considering starting additional trials in other forms of cancer. We also believe the Hemopurifier can be 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 in the past to treat individuals infected with human immunodeficiency virus, or HIV, hepatitis-C, and Ebola. Additionally, in vitro, On June 17, 2020, the FDA approved a supplement to our open IDE for the Hemopurifier in viral disease to allow for the testing of the Hemopurifier in patients with SARS-CoV-2/COVID-19 in a New Feasibility Study. That study is designed to enroll up to 40 subjects at up to 20 centers in the U.S. Subjects will have established laboratory diagnosis of COVID-19, be admitted to an intensive care unit, or ICU, and will have acute lung injury and/or severe or life-threatening disease, among other criteria. Endpoints for this study, in addition to safety, will include reduction in circulating virus as well as clinical outcomes (NCT # 04595903). Under Single Patient Emergency Use regulations, the Company has also treated two patients with COVID-19 with the Hemopurifier. In September 2021, we entered into an agreement with PPD, Inc., or PPD, a leading global contract research organization, or CRO, to oversee our U.S. clinical studies investigating the Hemopurifier for critically ill COVID-19 patients. We now have three hospitals, Hoag Newport Beach, Hoag Irvine, and Loma Linda Medical Center, fully activated for patient enrollment and they are actively screening patients for the trial. Together with PPD, we are currently advancing site readiness for LSU Shreveport, Valley Baptist Medical Center in Texas, University of California Davis, University of Miami Medical Center, and Thomas Jefferson Medical Center. We are in discussions to bring on board other key U.S. medical centers. We also obtained ethics review board approval and entered into a clinical trial agreement with Medanta Medicity Hospital, a multi-specialty hospital in Delhi NCR, India, for a COVID-19 clinical trial at that location. We have completed all site initiation activities at Medanta Medicity Hospital and this site is now open for enrollment and is actively screening patients. We are also the majority owner of Exosome Sciences, Inc., or ESI, a company formed to focus on the discovery of exosomal biomarkers to diagnose and monitor life-threatening diseases. We consolidate ESI’s activities in our consolidated financial statements. 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. In addition to the foregoing, we are monitoring closely the impact of the COVID-19 global pandemic on our business and have taken steps designed to protect the health and safety of our employees while continuing our operations. Given the level of uncertainty regarding the duration and impact of the COVID-19 pandemic on capital markets and the U.S. economy, we are unable to assess the impact of the worldwide spread of SARS-CoV-2 and the resulting COVID-19 pandemic on our timelines and future access to capital. We are continuing to monitor the spread of COVID-19 and its potential impact on our operations. The full extent to which the COVID-19 pandemic will impact our business, results of operations, financial condition, clinical trials, and preclinical research will depend on future developments that are highly uncertain, including actions taken to contain or treat COVID-19 and their effectiveness, as well as the economic impact on national and international markets. Our executive offices are located at 11555 Sorrento Valley Road, Suite 203, San Diego, California 92121. Our telephone number is (619) 941-0360. Our website address is www.aethlonmedical.com. Our common stock is listed on the Nasdaq Capital Market under the symbol “AEMD.” SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES During the three months ended December 31, 2021, there were no changes to our significant accounting policies as described in our Annual Report on Form 10-K for the fiscal year ended March 31, 2021. 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, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 8 of the Securities and Exchange Commission, or 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, 2021, included in the Company’s Annual Report on Form 10-K filed with the SEC on June 24, 2021. 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 nine months ended December 31, 2021, and the condensed consolidated statement of cash flows for the nine months ended December 31, 2021. 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, 2021 has been derived from the audited consolidated balance sheet at March 31, 2021, contained in the above referenced 10-K. The results of operations for the nine months ended December 31, 2021 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 Management expects existing cash as of December 31, 2021 to be sufficient to fund the Company’s operations for at least twelve months from the issuance date of these condensed consolidated financial statements. Restricted Cash To comply with the terms of our laboratory and office lease and our new lease for our manufacturing space, see Note 12, we caused our bank to issue two standby letters of credit, or the L/Cs, in the aggregate amount of $ 87,506

LOSS PER COMMON SHARE

LOSS PER COMMON SHARE	9 Months Ended
	Dec. 31, 2021
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. 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 December 31, 2021 and 2020, an aggregate of 1,587,759 2,626,485

RESEARCH AND DEVELOPMENT EXPENS

RESEARCH AND DEVELOPMENT EXPENSES	9 Months Ended
	Dec. 31, 2021
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 nine month periods ended December 31, 2021 and 2020, 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: Research and Development expenses December 31, December 31, 2021 2020 Three months ended $ 354,571 $ 461,176 Nine months ended $ 1,403,891 $ 1,367,333

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Dec. 31, 2021
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	4. RECENT ACCOUNTING PRONOUNCEMENTS None.

EQUITY TRANSACTIONS IN THE NINE

EQUITY TRANSACTIONS IN THE NINE MONTHS ENDED DECEMBER 31, 2021	9 Months Ended
	Dec. 31, 2021
Equity [Abstract]
EQUITY TRANSACTIONS IN THE NINE MONTHS ENDED DECEMBER 31, 2021	5. EQUITY TRANSACTIONS IN THE NINE MONTHS ENDED DECEMBER 31, 2021 Common Stock Sales Agreement with H.C. Wainwright & Co., LLC On March 22, 2021, we entered into an At the Market Offering Agreement, or the Offering Agreement, with H.C. Wainwright & Co., LLC, or Wainwright, as sales agent, pursuant to which we could offer and sell shares of our common stock, from time to time as set forth in the Offering Agreement. The offering was registered under the , pursuant to our shelf registration statement on Form pursuant to which we could offer and sell shares of common stock having an aggregate offering price of up to $5,080,000 from time to time. Subject to the terms and conditions set forth in the Offering Agreement, Wainwright agreed to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell the shares under the Offering Agreement from time to time, based upon our instructions. We provided Wainwright with customary indemnification rights under the Offering Agreement, and Wainwright was entitled to a commission at a fixed rate equal to three percent of the gross proceeds per share sold. In addition, we agreed to reimburse Wainwright for certain specified expenses in connection with entering into the Offering Agreement. The Offering Agreement provided that it would terminate upon the written termination by either party as permitted thereunder. Sales of the shares, under the Offering Agreement are 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 Wainwright. The Offering Agreement provided that we have no obligation under the Offering Agreement to sell any of the shares, and, at any time, we could suspend offers under the Offering Agreement or terminate the agreement. In the nine months ended December 31, 2021, we raised aggregate net proceeds under the Offering Agreement described above of $ 4,947,785 126,922 2,154 626,000 7.90 Registered Direct Financing In the nine months ended December 31, 2021, we sold an aggregate of 1,380,555 9.00 11,659,044 Warrant Exercises In the nine months ended December 31, 2021, pursuant to the exercise of outstanding warrants to purchase 531,167 820,938 Also in the nine months ended December 31, 2021, pursuant to the exercise of 874,664 675,554 199,110 Stock Option Exercises In the nine months ended December 31, 2021, former employees paid us an aggregate of $ 28,325 11,562 Restricted Stock Unit Grants In 2012, as amended through October 30, 2020, our Board of Directors established the Non-Employee Directors Compensation Program, to provide for cash and equity compensation for persons serving as non-employee directors of the Company. Under this program, each new director receives either stock options or a grant of restricted stock units, or RSUs, as well as an annual grant of RSUs at the beginning of each fiscal year. The RSUs are subject to vesting and represent the right to be issued on a future date shares of our common stock upon vesting. On April 1, 2021, pursuant to the terms of the Company’s 2012 Non-Employee Directors Compensation Program, as amended, or the Directors Plan, the Compensation Committee of the Board granted RSUs under the Company’s 2020 Equity Incentive Plan, or the 2020 Plan, to each non-employee director of the Company. The Director’s Plan provides for a grant of $50,000 worth of RSUs at the beginning of each fiscal year, priced at the average for the closing prices for the five days preceding and including the date of grant, or $2.06 per share as of April 1, 2021. Each eligible director was granted an RSU in the amount of 24,295 In June 2021, 18,221 7,289 35,786 In September 2021, 18,221 7,289 28,134 In December 2021, 18,221 7,289 13,557 RSUs outstanding that have vested as of, and are expected to vest subsequent to, December 31, 2021 are as follows: Schedule of RSU activity Number of RSUs Vested – Expected to vest 18,221 Total 18,221

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	6. RELATED PARTY TRANSACTIONS During the three months ended December 31, 2021, we accrued unpaid fees of $ 52,000 200,041 Due to related parties December 31, March 31, Accrued Board fees $ 52,000 $ 52,000 Accrued vacation to all employees 78,375 66,520 Total due to related parties $ 130,375 $ 118,520

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	9 Months Ended
	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
OTHER CURRENT LIABILITIES	7. OTHER CURRENT LIABILITIES Other current liabilities were comprised of the following items: Other Current Liabilities December 31, March 31, 2021 2021 Accrued separation expenses for former executive (see Note 12) $ – $ 284,270 Accrued professional fees 421,956 477,366 Total other current liabilities $ 421,956 $ 761,636

STOCK COMPENSATION

STOCK COMPENSATION	9 Months Ended
	Dec. 31, 2021
Equity [Abstract]
STOCK COMPENSATION	8. 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 nine month periods ended December 31, 2021 and 2020: Share-based compensation expense relating to RSUs Three Months Three Months Nine Months Nine Months Vesting of stock options and restricted stock units $ 201,019 $ 377,958 $ 522,234 $ 629,207 Total stock-based compensation expense $ 201,019 $ 377,958 $ 522,234 $ 629,207 Weighted average number of common shares outstanding – basic and diluted 15,397,418 12,093,361 14,543,787 11,265,725 Basic and diluted loss per common share attributable to stock-based compensation expense $ (0.01 ) $ (0.03 ) $ (0.04 ) $ (0.06 ) All of the stock-based compensation expense recorded during the nine months ended December 31, 2021 and 2020, an aggregate of $ 522,234 629,207 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 nine months ended December 31, 2021 was insignificant. Stock Option Activity During the nine months ended December 31, 2021, we issued a stock option grant to our Chief Executive Officer, or CEO, for the purchase of 266,888 5.17 From February 2020 through May 2020, our compensation committee granted 521,476 Under the 2020 Plan, up to 1,842,556 Stock options outstanding that have vested as of December 31, 2021 and stock options that are expected to vest subsequent to December 31, 2021 are as follows: Options outstanding that have vested and are expected to vest Number of Weighted Weighted Vested 166,717 $ 2.92 8.43 Expected to vest 824,931 $ 2.93 8.97 Total 991,648 A summary of stock option activity during the nine months ended December 31, 2021 is presented below: Schedule of stock option activity Amount Range of Weighted Stock options outstanding at March 31, 2021 844,089 $ 1.28 - 142.50 $ 3.07 Exercised (11,562 ) $ 2.45 $ 2.45 Granted 266,888 $ 5.17 $ 5.17 Cancelled/Expired (107,767 ) $ 2.45 – 142.50 $ 9.66 Stock options outstanding at December 31, 2021 991,648 $ 1.28 - 142.50 $ 2.93 Stock options exercisable at December 31, 2021 166,717 $ 1.28 - 142.50 $ 2.92 On December 31, 2021, our outstanding stock options had no intrinsic value since the closing share price on that date of $ 1.86 At December 31, 2021, there was approximately $ 3,320,000 4.1

WARRANTS

WARRANTS	9 Months Ended
	Dec. 31, 2021
Warrants
WARRANTS	9. WARRANTS During the nine months ended December 31, 2021 and 2020, we did not issue any warrants. A summary of warrant activity during the nine months ended December 31, 2021 is presented below: Schedule of Warrant Activity Amount Range of Weighted Warrants outstanding at March 31, 2021 1,991,973 $ 1.50 – 99.00 $ 5.23 Exercised (1,206,721 ) $ 1.50 – 2.50 $ 2.21 Cancelled/Expired (207,362 ) $ 2.50 – 99.00 $ 5.78 Warrants outstanding at December 31, 2021 577,890 $ 1.50 – 65.63 $ 11.32 Warrants exercisable at December 31, 2021 577,890 $ 1.50 – 65.63 $ 11.32

GOVERNMENT CONTRACTS AND RELATE

GOVERNMENT CONTRACTS AND RELATED REVENUE RECOGNITION	9 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
GOVERNMENT CONTRACTS AND RELATED REVENUE RECOGNITION	10. GOVERNMENT CONTRACTS AND RELATED REVENUE RECOGNITION We entered into the following contract 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 The work to be performed pursuant to this Award Contract is focused 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, as described below. Following on the Phase I work, the deliverables in the Phase II program involve the design and testing of a pre-commercial prototype of a more advanced version of the exosome isolation platform. We recorded $ 229,698 During the period ended December 31, 2020, we completed all of the milestones relevant to that time period. As a result, we recorded $ 436,427 117,849 318,578 Subaward with University of Pittsburgh In December 2020, we entered into a cost reimbursable subaward arrangement with the University of Pittsburgh in connection with an NIH contract entitled “Depleting Exosomes to Improve Responses to Immune Therapy in HNNCC.” Our share of the award is $ 256,750 51,351

SEGMENTS

SEGMENTS	9 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
SEGMENTS	11. SEGMENTS We operate our businesses principally through two reportable segments: Aethlon, which represents our therapeutic business activities, and ESI, which represents our diagnostic subsidiary. 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 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: Schedule of segment activity Nine Months Ended December 31, 2021 2020 Revenues: Aethlon $ 281,049 $ 624,871 ESI – – Total Revenues $ 281,049 $ 624,871 Operating Losses: Aethlon $ (6,614,318 ) $ (5,610,994 ) ESI (20,869 ) (15,931 ) Total Operating Loss $ (6,635,187 ) $ (5,626,925 ) Net Losses: Aethlon $ (6,614,318 ) $ (5,610,994 ) ESI (20,869 ) (15,931 ) Net Loss Before Non-Controlling Interests $ (6,635,187 ) $ (5,626,925 ) Depreciation and Amortization: Aethlon $ 98,363 $ 28,775 ESI – – Total Depreciation and Amortization $ 98,363 $ 28,775 Capital Expenditures: Aethlon $ 136,795 $ 54,630 ESI – – Capital Expenditures $ 136,795 $ 54,630 December 31, 2021 December 31, 2020 Cash: Aethlon $ 20,394,339 $ 12,131,396 ESI 197 197 Total Cash $ 20,394,536 $ 12,131,593 Total Assets: Aethlon $ 21,916,069 $ 12,669,552 ESI 197 197 Total Assets $ 21,916,266 $ 12,669,749

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	12. COMMITMENTS AND CONTINGENCIES CONTRACTUAL OBLIGATIONS AND COMMITMENTS On September 29, 2021, we entered into an agreement with PPD, Inc., a leading global contract research organization, for PPD to oversee our clinical studies investigating the Hemopurifier (the PPD Agreement). Pursuant to the PPD Agreement, PPD agreed to manage our ongoing study of the Hemopurifier for patients who are critically ill with COVID-19 (NCT04595903), with the option for the parties to agree to include additional studies under the PPD Agreement. The agreement has a five year term, but may be extended by mutual agreement. The PPD Agreement also may be terminated by Aethlon without cause upon 30 days’ prior written notice and may be terminated by either party following notice for breach or insolvency of the other party. SEPARATION AGREEMENT On October 30, 2020, we entered into a Separation Agreement with Timothy Rodell, M.D., our former Chief Executive Officer, or the Separation Agreement. Under the Separation Agreement, we agreed to pay Dr. Rodell a total cash amount of $ 444,729 LEASE COMMITMENTS Previous Office and Lab Leases In September 2021, our lease of approximately 2,600 square feet of our previous executive office space at 9635 Granite Ridge Drive, Suite 100, San Diego , Through December 31, 2021, we rented approximately 1,700 square feet of laboratory space at 11585 Sorrento Valley Road, Suite 109, San Diego, California 92121, at the rate of $6,148 per month on a one-year lease that originally was to expire on November 30, 2020. In December 2020, we entered into a short-term lease extension running from December 1, 2020 through the completion date of our construction of our new laboratory space which is adjacent to our current laboratory. New Office and Lab Leases In December 2020, we entered into an agreement to lease approximately 2,823 square feet of office space and 1,807 square feet of laboratory space. The agreement carries a term of 63 months and we took possession of the office space effective October 1, 2021. We took possession of the lab space effective January 1, 2022 (see Note 13). On October 1, 2021, we recorded a $ 343,633 63 4.25 6,121 328,869 During the three months ended March 31, 2022, we will record a $ 400,797 4.25 7,456 In addition, the new lease agreement of the new office and lab required us to post a standby letter of credit in favor of the landlord in the amount of $ 46,726 Manufacturing Space Lease In October 2021, we entered into another lease for an initial period of 58 months for (i) approximately 22,260 square feet of space located at 11588 Sorrento Valley Road, San Diego, California 92121 (the “Building”), and (ii) 2,655 square feet of space located in the Building and commonly known as Suite 18 to house our manufacturing operations. That manufacturing space is located at 11588 Sorrento Valley Road, San Diego, California 92121 and it is near our new lab and office locations. We anticipate that the landlord will complete construction on this new space in the second or third quarter of 2022 and we will take occupancy at that time. The initial base rent for the manufacturing space will be $12,080 per month. Based on the assumptions that we used to calculate the right-of-use lease asset for the new office and lab spaces, we estimate that we will record a right- of- use lease asset of $614,240 and associated lease liability for the manufacturing space lease when we take possession of that space. The lease for the manufacturing space also required us to post a standby letter of credit in favor of the landlord in the amount of $ 40,780 Mobile Clean Room In addition, we rent a mobile clean room on a short term, month-to-month basis, where we will house our manufacturing operations until our permanent manufacturing space is completed. The mobile clean room is located on leased land near our office and lab and we pay $ 2,000 119,000 Overall, our rent expense, which is included in general and administrative expenses, approximated $ 288,000 144,000 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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	13. SUBSEQUENT EVENTS Management has evaluated events subsequent to December 31, 2021 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. Lab Lease In December 2020, we entered into an agreement to lease approximately 2,823 square feet of office space and 1,807 square feet of laboratory space. The agreement carries a term of 63 months and we took possession of the office space effective October 1, 2021. We took possession of the lab space effective January 1, 2022 (see Note 12). During the three months ending March 31, 2022, we will record a $400,797 right-of-use lease asset and associated lease liability related to the lab space component of the lease based on the present value of lease payments over the expected lease term of 60 months, discounted using our estimated incremental borrowing rate of 4.25%. The initial monthly base rent under the lab component of the lease is $7,456. 2021 Target Bonus Awards On February 10, 2022, the Compensation Committee of the Board (the “Committee”) approved cash bonus awards to the Company’s executive officers in accordance with the terms of their respective employment agreements with the Company after review of Company and individual performance for 2021 and review of data from the Company’s independent compensation consultant. The Committee approved cash bonuses for the Company’s Chief Executive Officer, Chief Medical Officer, Chief Operating Officer and Chief Financial Officer in the amount of $215,000, $160,000, $136,000 and $110,000, respectively. The awards were based on a percentage of their respective 2021 annual base salaries. 2022 Annual Base Salaries and Target Bonus Levels On February 10, 2022, after review of data provided by the Company’s independent compensation consultant, the Committee approved annual base salaries for its executive officers for 2022, as follows, Chief Executive Officer $460,000, Chief Medical Officer, $400,000, Chief Operating Officer $340,000, and Chief Financial Officer $325,000, effective January 1, 2022. The Committee also approved target bonus levels for its executive officers for 2022 as follows, Chief Executive Officer, 50% bonus target, Chief Medical Officer, Chief Operating Officer and Chief Financial Officer each at 40% bonus target for 2022. The Committee targeted the 50 th Stock Option Grants On February 10, 2022, after review of data provided by the Company’s independent compensation consultant, the Committee awarded stock option grants to each of its executive officers. Each executive officer was granted an option to purchase shares of the Company’s common stock under the Company’s 2020 Equity Incentive Plan (the “Plan”), at an exercise price equal to the fair market value on the date of grant, or $[1.41] per share. The Committee awarded the grants as follows: the Chief Executive Officer was granted an option to purchase 192,600 shares of common stock, and the Chief Medical Officer, Chief Operating Officer and Chief Financial Officer each were granted an option to purchase 100,200 shares of common stock. The options are subject to vesting over four years at the rate of 25% at the end of the first year following the grant date, then monthly vesting over the following 36 months, subject to Continuous Service with the Company, as defined in the Plan. Non-Employee Director Compensation Policy On February 10, 2022, at the recommendation of the Company’s independent compensation consultant, the Committee approved an amendment to the Company’s Non-Employee Director Compensation Policy to increase the annual Board service retainer from $35,000 to $40,000, effective as of January 1, 2022.

NATURE OF BUSINESS AND BASIS _2

NATURE OF BUSINESS AND BASIS OF PRESENTATION ORGANIZATION (Policies)	9 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
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, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 8 of the Securities and Exchange Commission, or 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, 2021, included in the Company’s Annual Report on Form 10-K filed with the SEC on June 24, 2021. 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 nine months ended December 31, 2021, and the condensed consolidated statement of cash flows for the nine months ended December 31, 2021. 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, 2021 has been derived from the audited consolidated balance sheet at March 31, 2021, contained in the above referenced 10-K. The results of operations for the nine months ended December 31, 2021 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 Management expects existing cash as of December 31, 2021 to be sufficient to fund the Company’s operations for at least twelve months from the issuance date of these condensed consolidated financial statements.
Restricted Cash	Restricted Cash To comply with the terms of our laboratory and office lease and our new lease for our manufacturing space, see Note 12, we caused our bank to issue two standby letters of credit, or the L/Cs, in the aggregate amount of $ 87,506

RESEARCH AND DEVELOPMENT EXPE_2

RESEARCH AND DEVELOPMENT EXPENSES (Tables)	9 Months Ended
	Dec. 31, 2021
Research and Development [Abstract]
Research and Development expenses	Research and Development expenses December 31, December 31, 2021 2020 Three months ended $ 354,571 $ 461,176 Nine months ended $ 1,403,891 $ 1,367,333

EQUITY TRANSACTIONS IN THE NI_2

EQUITY TRANSACTIONS IN THE NINE MONTHS ENDED DECEMBER 31, 2021 (Tables)	9 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of RSU activity	Schedule of RSU activity Number of RSUs Vested – Expected to vest 18,221 Total 18,221

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Due to related parties	Due to related parties December 31, March 31, Accrued Board fees $ 52,000 $ 52,000 Accrued vacation to all employees 78,375 66,520 Total due to related parties $ 130,375 $ 118,520

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities December 31, March 31, 2021 2021 Accrued separation expenses for former executive (see Note 12) $ – $ 284,270 Accrued professional fees 421,956 477,366 Total other current liabilities $ 421,956 $ 761,636

STOCK COMPENSATION (Tables)

STOCK COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Share-based compensation expense relating to RSUs	Share-based compensation expense relating to RSUs Three Months Three Months Nine Months Nine Months Vesting of stock options and restricted stock units $ 201,019 $ 377,958 $ 522,234 $ 629,207 Total stock-based compensation expense $ 201,019 $ 377,958 $ 522,234 $ 629,207 Weighted average number of common shares outstanding – basic and diluted 15,397,418 12,093,361 14,543,787 11,265,725 Basic and diluted loss per common share attributable to stock-based compensation expense $ (0.01 ) $ (0.03 ) $ (0.04 ) $ (0.06 )
Options outstanding that have vested and are expected to vest	Options outstanding that have vested and are expected to vest Number of Weighted Weighted Vested 166,717 $ 2.92 8.43 Expected to vest 824,931 $ 2.93 8.97 Total 991,648
Schedule of stock option activity	Schedule of stock option activity Amount Range of Weighted Stock options outstanding at March 31, 2021 844,089 $ 1.28 - 142.50 $ 3.07 Exercised (11,562 ) $ 2.45 $ 2.45 Granted 266,888 $ 5.17 $ 5.17 Cancelled/Expired (107,767 ) $ 2.45 – 142.50 $ 9.66 Stock options outstanding at December 31, 2021 991,648 $ 1.28 - 142.50 $ 2.93 Stock options exercisable at December 31, 2021 166,717 $ 1.28 - 142.50 $ 2.92

WARRANTS (Tables)

WARRANTS (Tables)	9 Months Ended
	Dec. 31, 2021
Warrants
Schedule of Warrant Activity	Schedule of Warrant Activity Amount Range of Weighted Warrants outstanding at March 31, 2021 1,991,973 $ 1.50 – 99.00 $ 5.23 Exercised (1,206,721 ) $ 1.50 – 2.50 $ 2.21 Cancelled/Expired (207,362 ) $ 2.50 – 99.00 $ 5.78 Warrants outstanding at December 31, 2021 577,890 $ 1.50 – 65.63 $ 11.32 Warrants exercisable at December 31, 2021 577,890 $ 1.50 – 65.63 $ 11.32

SEGMENTS (Tables)

SEGMENTS (Tables)	9 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of segment activity	Schedule of segment activity Nine Months Ended December 31, 2021 2020 Revenues: Aethlon $ 281,049 $ 624,871 ESI – – Total Revenues $ 281,049 $ 624,871 Operating Losses: Aethlon $ (6,614,318 ) $ (5,610,994 ) ESI (20,869 ) (15,931 ) Total Operating Loss $ (6,635,187 ) $ (5,626,925 ) Net Losses: Aethlon $ (6,614,318 ) $ (5,610,994 ) ESI (20,869 ) (15,931 ) Net Loss Before Non-Controlling Interests $ (6,635,187 ) $ (5,626,925 ) Depreciation and Amortization: Aethlon $ 98,363 $ 28,775 ESI – – Total Depreciation and Amortization $ 98,363 $ 28,775 Capital Expenditures: Aethlon $ 136,795 $ 54,630 ESI – – Capital Expenditures $ 136,795 $ 54,630 December 31, 2021 December 31, 2020 Cash: Aethlon $ 20,394,339 $ 12,131,396 ESI 197 197 Total Cash $ 20,394,536 $ 12,131,593 Total Assets: Aethlon $ 21,916,069 $ 12,669,552 ESI 197 197 Total Assets $ 21,916,266 $ 12,669,749

NATURE OF BUSINESS AND BASIS _3

NATURE OF BUSINESS AND BASIS OF PRESENTATION ORGANIZATION (Details Narrative)	Dec. 31, 2021USD ($)
Restricted Cash [Member]
Security deposit	$ 87,506

LOSS PER COMMON SHARE (Details

LOSS PER COMMON SHARE (Details Narrative) - shares	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Antidilutive shares	1,587,759	2,626,485

RESEARCH AND DEVELOPMENT EXPE_3

RESEARCH AND DEVELOPMENT EXPENSES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Research and Development [Abstract]
Research and development expense	$ 354,571	$ 461,176	$ 1,403,891	$ 1,367,333

EQUITY TRANSACTIONS (Details -

EQUITY TRANSACTIONS (Details - RSU's outstanding) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Dec. 31, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU's vested	0
RSU's expected to vest	18,221
Total RSU's outstanding	18,221

EQUITY TRANSACTIONS IN THE NI_3

EQUITY TRANSACTIONS IN THE NINE MONTHS ENDED DECEMBER 31, 2021 (Details Narrative) - USD ($)	Apr. 02, 2021	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Subsidiary, Sale of Stock [Line Items]
Warrants Cancelled						199,110
Payments to satify tax withholding						$ 77,477		$ 106,391
Equity Option [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from options exercised						$ 28,325
Stock issued for exercise of options						11,562
Restricted Stock Units (RSUs) [Member]
Subsidiary, Sale of Stock [Line Items]
Conversion of Stock, Shares Converted		18,221			18,221
Conversion of Stock, Shares Issued							18,221
Restricted Stock Units (RSUs) [Member] | Non Employee Directors [Member]
Subsidiary, Sale of Stock [Line Items]
Stock cancelled in exchange for withholding tax, shares		7,289	7,289	7,289
Payments to satify tax withholding		$ 13,557	$ 28,134	$ 35,786
Restricted Stock Units (RSUs) [Member] | Plan 2020 [Member]
Subsidiary, Sale of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	24,295
Warrants [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants exercised, common shares issued						531,167
Proceeds from warrant exercises						$ 820,938
Warrants Cashless Basis [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants exercised cashless basis						874,664
Stock issued from exercise of warrants cashless basis						675,554
Maxim Group L L C [Member]
Subsidiary, Sale of Stock [Line Items]
Share price		$ 9				$ 9
Maxim Group L L C [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of equity						$ 11,659,044
Stock issued new, shares issued						1,380,555
Offering Agreement [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of equity						$ 4,947,785
Stock issued new, shares issued						626,000
Stock sale - average price per share						$ 7.90
Offering Agreement [Member] | Hc Wainwright [Member]
Subsidiary, Sale of Stock [Line Items]
Payment of commissions						$ 126,922
Offering Agreement [Member] | Other Offering Expense [Member]
Subsidiary, Sale of Stock [Line Items]
Payment of stock issuance costs						$ 2,154

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Dec. 31, 2021	Mar. 31, 2021
Related Party Transaction [Line Items]
Due to related parties	$ 130,375	$ 118,520
Accrued Board Fees [Member]
Related Party Transaction [Line Items]
Due to related parties	52,000	52,000
Accrued Vacation [Member]
Related Party Transaction [Line Items]
Due to related parties	$ 78,375	$ 66,520

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details Narrative)	Dec. 31, 2021USD ($)
Related Party Transactions [Abstract]
Accrued unpaid fees	$ 52,000
Income tax	$ 200,041

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - USD ($)	Dec. 31, 2021	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
Accrued separation expenses for former executive (see Note 12)		$ 284,270
Accrued professional fees	421,956	477,366
Total other current liabilities	$ 421,956	$ 761,636

STOCK COMPENSATION (Details - S

STOCK COMPENSATION (Details - Stock compensation) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Interim Period, Costs Not Allocable [Line Items]
Total stock-based compensation expense	$ 201,019	$ 377,958	$ 522,234	$ 629,207
Weighted average number of common shares outstanding- basic and diluted	15,397,418	12,093,361	14,543,787	11,265,725
Basic and diluted loss per common share attributable to stock-based compensation expense	$ (0.16)	$ (0.20)	$ (0.46)	$ (0.50)
Vesting Options [Member]
Interim Period, Costs Not Allocable [Line Items]
Total stock-based compensation expense	$ 201,019	$ 377,958	$ 522,234	$ 629,207
Share Based Compensation [Member]
Interim Period, Costs Not Allocable [Line Items]
Basic and diluted loss per common share attributable to stock-based compensation expense	$ (0.01)	$ (0.03)	$ (0.04)	$ (0.06)

STOCK COMPENSATION (Details - O

STOCK COMPENSATION (Details - Options vested and expected to vest) - Equity Option [Member]	9 Months Ended
	Dec. 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vested	166,717
Weighted average exercise price options vested | $ / shares	$ 2.92
Weighted average remaining contractual term options vested	8 years 5 months 4 days
Options expected to vest	824,931
Weighted average exercise price options expected to vest | $ / shares	$ 2.93
Weighted average remaining contractual term options expected to vest	8 years 11 months 19 days
Total options outstanding	991,648

STOCK COMPENSATION (Details -_2

STOCK COMPENSATION (Details - Option activity) - Options Held [Member] - $ / shares	9 Months Ended
	Dec. 31, 2021	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding, ending balance	991,648	844,089
Range of exercise prices, Option beginning	1.28 - 142.50
Outstanding Weighted Average Exercise Price, ending price	$ 2.93	$ 3.07
Stock options exercised	(11,562)
Range of exercise prices, Option Exercised	2.45
Exercised, Weighted Average Exercise Price	$ 2.45
Stock options granted	266,888
Range of exercise prices, Option Granted	5.17
Granted, Weighted Average Exercise Price	$ 5.17
Stock options cancelled/forfeited	(107,767)
Range of exercise prices, Option cancelled/expired	2.45 – 142.50
Cancelled/Forfeited, Weighted Average Exercise Price	$ 9.66
Range of exercise prices, Option ending	1.28 - 142.50
Stock options exercisable	166,717
Range of exercise prices, Option exercisable	1.28 - 142.50
Exercisable, Weighted Average Exercise Price	$ 2.92

STOCK COMPENSATION (Details Nar

STOCK COMPENSATION (Details Narrative) - USD ($)	3 Months Ended		4 Months Ended	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	May 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation	$ 201,019	$ 377,958		$ 522,234	$ 629,207
Unrecognized compensation costs	$ 3,320,000			$ 3,320,000
Unrecognized compensation cost amortization period				4 years 1 month 6 days
Options Held [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price				$ 5.17
Share price	$ 1.86			$ 1.86
Equity 2020 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted			521,476
Number of shares authorized	1,842,556			1,842,556
Equity 2020 Plan [Member] | C E O [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted				266,888
Share price				$ 5.17

WARRANTS (Details)

WARRANTS (Details) - Warrant [Member] - $ / shares	9 Months Ended
	Dec. 31, 2021	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Warrants Outstanding, Beginning	1,991,973
Range of Exercise Price Outstanding, Beginning	1.50 – 99.00
Weighted Average Exercise Price Outstanding, Ending	$ 11.32	$ 5.23
Number of Warrants Exercised	(1,206,721)
Range of Exercise Price, Exercised	1.50 – 2.50
Weighted Average Exercise Price, Exercised	$ 2.21
Number of Warrants Cancelled/Expired	(207,362)
Range of Exercise Price Cancelled/Expired	2.50 – 99.00
Weighted Average Exercise Price Cancelled/Expired	$ 5.78
Number of Warrants Outstanding, Ending	577,890
Range of Exercise Price Outstanding, Ending	1.50 – 65.63
Number of Warrants Exercisable, Ending	577,890
Range of Exercise Price Exercisable	1.50 – 65.63
Weighted Average Exercise Price Exercisable	$ 11.32

GOVERNMENT CONTRACTS AND RELA_2

GOVERNMENT CONTRACTS AND RELATED REVENUE RECOGNITION (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue recognized				$ 117,849
Deferred revenue		$ 318,578
Revenue	$ 17,117	$ 624,871	$ 281,049	624,871
Melanoma Cancer Contract Phase 2 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Award Contract amount			1,860,561
Contract revenue			229,698	$ 436,427
Subaward With University Of Pittsburgh [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Award Contract amount			256,750
Revenue			$ 51,351

SEGMENTS (Details)

SEGMENTS (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2021
Segment Reporting Information [Line Items]
Revenues	$ 17,117	$ 624,871	$ 281,049	$ 624,871
Operating Losses	(2,527,946)	(2,444,390)	(6,635,187)	(5,626,925)
Net Losses	(2,527,946)	(2,444,390)	(6,635,187)	(5,626,925)
Depreciation and Amortization			98,363	28,775
Capital Expenditures			136,795	54,630
Cash	20,394,536	12,131,593	20,394,536	12,131,593	$ 9,861,575
Total Assets	21,916,266	12,669,749	21,916,266	12,669,749	$ 10,668,916
Aethlon [Member]
Segment Reporting Information [Line Items]
Revenues			281,049	624,871
Operating Losses			(6,614,318)	(5,610,994)
Net Losses			(6,614,318)	(5,610,994)
Depreciation and Amortization			98,363	28,775
Capital Expenditures			136,795	54,630
Cash	20,394,339	12,131,396	20,394,339	12,131,396
Total Assets	21,916,069	12,669,552	21,916,069	12,669,552
ESI [Member]
Segment Reporting Information [Line Items]
Revenues			0	0
Operating Losses			(20,869)	(15,931)
Net Losses			(20,869)	(15,931)
Depreciation and Amortization			0	0
Capital Expenditures			0	0
Cash	197	197	197	197
Total Assets	$ 197	$ 197	$ 197	$ 197

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended	7 Months Ended	9 Months Ended
	Dec. 31, 2021	Mar. 31, 2022	Oct. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Oct. 02, 2021	Mar. 31, 2021
Other Commitments [Line Items]
Right-of-use lease asset	$ 328,869			$ 328,869			$ 40,363
Payment for rent per month				2,000
Rent expense				288,000	$ 144,000
Office Space [Member]
Other Commitments [Line Items]
Right-of-use lease asset	328,869			328,869		$ 343,633
Operating Lease, Liability						$ 343,633
Lease term						63 months
Borrowing rate						4.25%
Payments for rent	6,121
Lab Space [Member] | Subsequent Event [Member]
Other Commitments [Line Items]
Right-of-use lease asset		$ 400,797
Operating Lease, Liability		$ 400,797
Borrowing rate		4.25%
Payments for rent		$ 7,456
New Office And Lab Space [Member]
Other Commitments [Line Items]
Line of credit	46,726			46,726
Manufacturing Space [Member]
Other Commitments [Line Items]
Line of credit	$ 40,780			40,780
Mobile Clean Room [Member]
Other Commitments [Line Items]
Payments for rent				$ 119,000
Timothy Rodell [Member]
Other Commitments [Line Items]
Lease payment			$ 444,729