Company: ACBM
Filing Date: 2025-07-24
Form Type: 10-K
Source: 0001640334-25-001300
Chunk: 146

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-24
Form: 10-K
Item: Item 15
Chunk 146
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 of funds and the Company will have to continue to rely on advances from the minority stockholder. If the Company cannot generate revenue from its products, it may not be able to continue in its business.

 F-11Table of Contents

NOTE 4 - EQUITY Common Stock The Company issued a total of 6,776,000 and 5,506,000 shares of common stock to consultants as stock grants pursuant to agreements with the consultants in May 2021 and August 2021, respectively, of which 11,912,000 shares were issued pursuant to the 2020 equity incentive plan. (the “Plan”) and 370,000 shares were issued as restricted stock outside of the Plan. The agreements provide for the consultants to perform services described in the contracts for the two-year period commencing May 25, 2021 and August 23, 2021. The shares were valued at $19,311,600 and $12,113,200, based on the market price of the common stock on the respective dates of the agreements, which was $2.85 and $2.20 per share, respectively, and was amortized over the two-year period starting from the date of the agreement using the straight-line method. During the year ended December 31, 2023, the Company recorded stock-based compensation of $8,060,983. At December 31, 2023, these stock grants were fully amortized, and accordingly no stock-based compensation was recognized in the year ended December 31, 2024. During the years ended December 31, 2024 and 2023, the Company did not issue any shares of common stock.

NOTE 5 - INCOME TAXES The reconciliation of income tax expense at the U.S. statutory rate of 21% to the Company’s effective tax rate is as follows:   Year ended   December 31,   2024  2023 Income tax expense (benefit) at statutory rate $(8,882) $(1,849,590)Income tax adjustment        Imputed interest  911   673 Change of valuation allowance  7,971   1,848,917 Income tax expense (benefit) $-  $-  Net deferred tax assets consist of the following components as of:   December 31,  December 31,   2024  2023 Operating loss