Company: ACBM
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001640334-25-001302
Chunk: 36

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-24
Form: 10-Q
Item: Item 8
Chunk 36
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 2024 Cash (used in) operating activities $(22,531 ) $(13,513 )Cash provided by financing activities $22,306  $13,288 Cash at end of period $251  $151 

Cash used in operating activities of $22,531 for the three months ended March 31, 2025 reflected primarily our net loss of $10,301, reduced by decreases in accounts payable and accrued expenses $11,282 and operating lease liability of $2,315 and increased by imputed interest of $1,367.

Cash used in operating activities of $13,513 for the three months ended March 31, 2024 reflected primarily our net loss of $11,252, increased primarily by a decrease in accounts payable and accrued expenses of $2,150 and a change in operating lease liability of $2,315.

Cash provided by financing activities for the three months ended March 31, 2025 and 2024 reflected advances from a minority stockholder. These advances 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 March 31, 2025, we have had no revenue subsequent to December 31, 2022 through the date of this report, and we incurred a loss from operations for the three months ended March 31, 2025, the years ended December 31, 2024 and 2023 as well as prior years, had negative cash flow from operations for the three months ended March 31, 2025 and the years ended December 31, 2024 and 2023. 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 during the period from May 2021 through August 2023.  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