Company: ACBM
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001640334-25-001281
Chunk: 25

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-23
Form: 10-Q
Item: Item 2
Chunk 25
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,465.

Cash provided by financing activities for the nine months ended September 30, 2024 and 2023 reflected advances from a minority stockholder. The advances in nine months ended September 30, 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. We had minimal cash as of September 30, 2024, had no revenue for the year ended December 31, 2023 and we have not generated any revenue subsequent to December 31, 2022 through the date of this report, and we incurred a loss from operations for the nine months ended September 30, 2024, the years ended December 31, 2023 and 2022 as well as prior years, had negative cash flow from operations for the nine months ended September 30, 2024 and the years ended December 31, 2023 and 2022. To date, we did not generate any revenue subsequent to December 31, 2022 and did not develop \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.

Although we propose to fund operations through sales of our products and equity financing arrangements, we do not presently have any orders for products, we reserved accounts receivable of $480,000 in the year ended December 31, 2023 with respect to sales previously made, our common stock is reported on the Expert Market as a result of which there are no market makers in the common stock and we are delinquent in our filings with the Securities and Exchange Commission, as a result of which we may not be able to raise funds for capital expenditures, working capital and other cash requirements and will have to rely on advances from a minority stockholder and an officer. If we cannot generate revenue from our products, we may not be able to continue in business. For the years ended December 31, 2023 and 2022 and the nine months ended September