Company: ACBM
Filing Date: 2025-07-11
Form Type: 10-Q
Source: 0001640334-25-001169
Chunk: 32

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-11
Form: 10-Q
Item: Item 1
Chunk 32
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 of 2022, our revenue in any quarter is dependent upon both the timing of orders from customers and the delivery of products from our suppliers.  We did not generate any revenue during the nine months ended September 30, 2023.

Liquidity and Capital Resources

The following table summarizes our changes in working capital from December 31, 2022 to September 30, 2023:

  September 302023  December 31,2022  Change  % Change Current assets $12,501  $657,537  $(645,036 )  (98.1 )%Current liabilities $258,640  $201,116  $57,524   28.6%Working capital (deficiency)  $(246,139 ) $456,421  $(702,560 )    

The following table summarizes our cash flows for the nine months ended September 30, 2023 and 2022: 

  Nine months EndedSeptember 30,   2023  2022 Cash (used in) operating activities $(2,833 ) $(136,913 )Cash provided by financing activities $252  $57,853 Cash at end of period $3,271  $16,188 

 14Table of Contents

Cash used in operating activities of $2,833 for the nine months ended September 30, 2023 reflected primarily our net loss of $8,789,333, increased primarily by stock-based compensation representing the amortization of deferred stock compensation of $8,060,983, and a write-off of accounts receivable of $480,000, a reduction of accounts receivable of $158,500, and an increase in accounts payable and accrued expenses of $76,465.

Cash used in operating activities of $136,913 for the nine months ended September 30, 2022 reflected primarily our net loss of $11,936,762, increased primarily by amortization of deferred stock-based compensation of $11,784,300, as well as a decrease in inventories of $296,000, offset by an increase in accounts receivable of $319,500.

Cash provided by financing activities of $252 for the nine months ended September 30, 2023 and $57,853 for the nine months ended September 30, 2022 reflected advances from a minority stockholder.

Going Concern