Company: ACBM
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001640334-25-001279
Chunk: 5

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-23
Form: 10-Q
Item: Item 2
Chunk 5
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ization of deferred stock compensation issued to the consultants in 2021. We also incurred interest expense to a minority stockholder of $1,577. As a result, we had a net loss of $7,199,843 or $(0.12) per share (basic and diluted).

Liquidity and Capital Resources

The following table summarizes our changes in working capital from December 31, 2023 to June 30, 2024:

  June 302024  December 31,2023  Change  % Change Current assets $926  $1,626  $(700 )  (43.1 )%Current liabilities $308,029  $288,575  $19,454   6.7%Working capital (deficiency)  $(307,103 ) $(286,949 ) $(20,154)   7.0%

The following table summarizes our cash flows for the six months ended June 30, 2024 and 2023: 

  Six Months EndedJune 30,   2024  2023 Cash (used in) operating activities $(19,842 ) $(3,316 )Cash provided by financing activities $20,392  $144 Cash at end of period $926  $2,680 

Cash used in operating activities of $19,842 for the six months ended June 30, 2024 reflected primarily our net loss of $21,395, increased primarily by imputed interest of $2,011, a reduction of prepaid expenses of $1,250 and decreased by a reduction of accounts payable and accrued expenses of $1,708.

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Cash used in operating activities of $3,316 for the six months ended June 30, 2023 reflected primarily our net loss of $7,199,843, increased primarily by stock-based compensation representing the amortization of deferred stock compensation of $7,051,550 and a decrease in accounts receivable of $140,000.

Cash provided by financing activities for the six months ended June 30, 2024 and 2023 reflected advances from a minority stockholder. The advances in six months ended June 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