Company: ACBM
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001640334-25-001257
Chunk: 26

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-22
Form: 10-Q
Item: Item 1
Chunk 26
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 for the three months ended March 31, 2024, the years ended December 31, 2023 and 2022 as well as prior years, had negative cash flow from operations for the three months ended March 31, 2024 and the years ended December 31, 2023 and 2022. To date, we did not generate any revenue subsequent to December 31, 2023 and did not develop \any products from our research and development activities. Further, our common stock is presently on the OTC Market Group’s Expert Market, which means that our common stock is not eligible for proprietary broker-deal quotes, with the result that there are no published quotes for our common stock.  These factors, among others, raise substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Although we propose to fund operations through sales of our products and equity financing arrangements, we do not presently have any orders for products, we reserve of accounts receivable of $480,000 in the year ended December 31, 2023 with respect to sales previously made, our common stock is reported on the Expert Market as a result of which there are no market makers in the common stock and we are delinquent in our filings with the Securities and Exchange Commission, as a result of which we may not be able to raise funds for capital expenditures, working capital and other cash requirements and will have to rely on advances from a minority stockholder and an officer. If we cannot generate revenue from our products, we may not be able to continue in business. For the years ended December 31, 2023 and 2022 and the three months ended March 31, 2024, funds have provided by a minority stockholder, which, as of the date of this report, remains our source of funds.

Critical Accounting Policy and Estimates

Our critical accounting policies are disclosed in Note 2 of Notes to Financial Statements.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Item 3: Quantitative and Qualitative Disclosures About Market Risk

Smaller reporting companies are not required to provide the information required by this item. 

Item 4: Controls and Procedures