Company: ACBM
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001640334-25-001257
Chunk: 18

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-22
Form: 10-Q
Item: Item 1
Chunk 18
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 computed by dividing net loss by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per share is computed by dividing net income by the weighted average number of shares of common stock and potentially dilutive outstanding shares of common stock during the period to reflect the potential dilution that could occur from common shares issuable through contingent share arrangements, stock options and warrants unless the result would be antidilutive. There were no potentially dilutive shares of common stock outstanding for the three months ended March 31, 2024 and 2023.

NOTE 3 - GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. The Company had minimal cash as of March 31, 2024, had no revenue for the year ended December 31, 2023 and has not generated any revenue subsequent to December 31, 2023 through the date of this report, and incurred a loss from operations for the three months ended March 31, 2024, the years ended December 31, 2023 and 2022 as well as prior years, had negative cash flow from operations for the three months ended March 31, 2024 and the years ended December 31, 2023 and 2022. To date, the Company has not generated any revenue subsequent to December 31, 2023 and did not generate any products from its research and development activities. Further, the Company’s common stock is presently on the OTC Market Group’s Expert Market, which means that the Company’s common stock is not eligible for proprietary broker-deal quotes, with the result that there are no published quotes for the Company’s common stock.  These factors, among others, raise substantial doubt about the Company’s 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 the Company proposes to fund operations through sales of its products and equity financing arrangements, it does not presently have any orders for products, it incurred a write-off of accounts receivable of $480,000 in the year ended December 31, 2023 with respect to sales previously made, its common stock is reported on the Expert Market as a result of which there are no market makers in the common stock and it is delinquent in its filings with the Securities and Exchange Commission,