Company: ACBM
Filing Date: 2025-07-18
Form Type: 10-K
Source: 0001640334-25-001245
Chunk: 481

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-18
Form: 10-K
Item: Item 7A
Chunk 481
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Related Party Transactions

At December 31, 2023 and 2022, we owed $1,100 to our chief executive officer for non-interest-bearing advances made to us or on our behalf. These advances are due on demand.

During the years ended December 31, 2023 and 2022, a minority stockholder advanced $0 and $55,000 and paid expenses of $9,970 and $3,085 on our behalf, all of which was outstanding on December 31, 2023.

At December 31, 2023 and 2022, we owed $87,696 and $77,726 to the minority stockholder referred to in the preceding paragraph for non-interest-bearing advances made to or on our behalf, respectively. These advances are due on demand.

We have imputed interest at the rate of 4% on the advances made to or on our behalf. Imputed interest amounted to $3,206 and $1,706, during the years ended December 31, 2023 and 2022, respectively.

As of December 31, 2023 and 2022, we had amounts due to related parties of $88,796 and $78,826, respectively.

Director Independence

We have no independent directors.

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES

The following table sets forth the fees billed by Prager Metis for the years ended December 31, 2023 and 2022.

  Year Ended December 31,   2023  2022 Audit fees $39,000  $40,500 Audit-related fees  -   - Tax fees  -   - All other fees $-   - 

Audit fees consist of fees related to professional services rendered in connection with the audit and review of our annual financial statements.

Our policy is to pre-approve all audit and permissible non-audit services performed by the independent accountants. These services may include audit services, audit-related services, tax services and other services. 

 26Table of Contents

PART IV

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

EXHIBIT

Exhibit No.Description3.1Amended and Restated Articles of Incorporation of the Company.(1)3.2Bylaws of the Company. (1)4.1 Description of the Company’s Common Stock10.1 Ac