Company: ACBM
Filing Date: 2025-07-24
Form Type: 10-K
Source: 0001640334-25-001300
Chunk: 272

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-24
Form: 10-K
Item: Item 2
Chunk 272
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 ) $(15,446 )Cash provided by financing activities $36,792  $9,970 Cash at end of period $476  $376 

Cash used in operating activities of $36,692 for the year ended December 31, 2024 reflected primarily our net loss of $42,297 increased by imputed interest-related parties of $4,339 and a decrease in prepaid expenses of $1,250.

Cash used in operating activities of $15,446 for the year ended December 31, 2023 reflected primarily our net loss of $8,807,573, increased primarily by stock-based compensation representing the amortization of deferred stock compensation of $8,060,983, and a bad debt provision of accounts receivable of $480,000, a reduction of accounts receivable of $158,500, and an increase in accounts payable and accrued expenses of $77,873.

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Cash provided by financing activities of $36,792 for the year ended December 31, 2024 and $9,970 for the year ended December 31, 2023 reflected advances from a minority stockholder. The advances in 2024 provided us with funds to cover our cash used in operations

Going Concern

The accompanying financial statements have been prepared assuming that we will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. The Company had minimal cash as of December 31, 2024, had no revenue for the year ended December 31, 2024, and incurred a loss from operations for the years ended December 31, 2024 and 2023 as well as prior years, and the losses and the absence of revenue have continued through the date of this annual report. We had negative cash flow from operations for the years ended December 31, 2024 and 2023, have not actively engaged in its business subsequent to December 31, 2022, and did not generate 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.