Company: ACBM
Filing Date: 2025-07-24
Form Type: 10-K
Source: 0001640334-25-001300
Chunk: 235

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-24
Form: 10-K
Item: Item 1B
Chunk 235
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 2023, a minority stockholder advanced $1,000 and $0, and paid expenses of $35,792 and $9,970 on behalf of the Company, all of which was outstanding on December 31, 2024. At December 31, 2024 and 2023, the Company owed $124,488 and $87,696 to the minority stockholder referred to in the preceding paragraph for non-interest-bearing advances made to or expenses paid on behalf of the Company, respectively. These advances are due on demand. The Company has imputed interest at the rate of 4% on the advances made to or expenses paid on behalf of the Company. Imputed interest amounted to $4,339 and $3,206, during the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024 and 2023, the Company had amounts due to related parties of $125,588 and $88,796, respectively.

NOTE 7 – LEASES On November 3, 2021, the Company entered into a lease agreement to rent a storage facility in Hong Kong for a two-year term at HK$17,000 (approximately $2,190) per month and HK$33,000 (approximately $4,230) as a security deposit. These payments were paid by a minority stockholder on behalf of the Company (see Note 6). The lease expired in December 2023. On November 1, 2023, the Company entered into a lease agreement to rent a storage facility in Hong Kong for a two-year term at an annual rental of HK$17,900 (approximately $2,315) per month and HK$35,800 (approximately $4,600) as a security deposit.  These payments were paid by a minority stockholder on behalf of the Company (see Note 6). The lease expires in December 2025. In accordance with ASC 842, the Company recognized operating lease ROU assets and lease liabilities as follows:   December 31,  December 31,   2024  2023 Operating lease ROU asset $26,898  $52,233    December 31,  December 31,   2024  2023 Operating lease liabilities      Current portion $26,898