Company: ACBM
Filing Date: 2025-07-24
Form Type: 10-K
Source: 0001640334-25-001300
Chunk: 7

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-24
Form: 10-K
Item: Item 1
Chunk 7
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 require significant funding for us to conduct our business.

At December 31, 2024, we had nominal cash, no accounts receivable and no inventory.  Although we may seek to raise funds in the equity market, we have no agreements or understandings with respect to any funding,. and we can give no assurance as to the availability or terms of any such financing. Because of our financial condition, the lack of sales subsequent to December 31, 2022 through the date of this annual report, along with the absence of an active market for our stock and our stock being traded 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, together with risk related to political and legal situation in Hong Kong, it may be difficult for us to raise funds in the equity market, and, if we are able to raise funds our stockholders may suffer significant dilution. All of our funding, which was used for working capital, since January 1, 2021 has been in the form of advances from a minority stockholder and, to a lesser extent, from our chief executive officer.  We cannot assure you that they will continue to fund our operations.

We incurred significant research and development expenses and such research and development did not result in a marketable product.

A key element in the loss for both 2023 and 2022 is stock-based compensation relating to research and development  and marketing of approximately $8.1 million in 2023 and approximately $15.7 million in 2022, reflecting the amortized portion of the value of common stock issued in 2021 to consultants for research and development and selling, general and administrative services relating to our proposed chicken feed product.  The deferred stock compensation is fully amortized at December 31, 2023, and, accordingly, there was no amortization during 2024.

Our financial statements include a going concern paragraph.

Our financial statements for the year ended December 31, 2024 include a going concern paragraph. We had minimal cash at December 31, 2024 and no revenues or gross profit for the year ended December 31, 2024, we incurred a loss of approximately $42,000 and $8.8 million for the years ended December 31, 2024 and 2023, respectively, had negative cash flow from operations for the years ended December 31,