Company: ACBM
Filing Date: 2025-07-24
Form Type: 10-K
Source: 0001640334-25-001300
Chunk: 387

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-24
Form: 10-K
Item: Item 6
Chunk 387
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024  December 31,2023  Change  % Change Current assets $5,076  $1,626  $3,450   212.2%Current liabilities $326,946  $288,575  $38,371   13.3%Working capital (deficiency)  $(321,870 ) $(286,949 ) $(34,921 )  12.2%

The following table summarizes our cash flows for the years ended December 31, 2024 and 2023: 

  Year EndedDecember 31,   2024  2023 Cash (used in) operating activities $(36,692 ) $(15,446 )Cash provided by financing activities $36,792  $9,970 Cash at end of period $476  $376 

Cash used in operating activities of $36,692 for the year ended December 31, 2024 reflected primarily our net loss of $42,297 increased by imputed interest-related parties of $4,339 and a decrease in prepaid expenses of $1,250.

Cash used in operating activities of $15,446 for the year ended December 31, 2023 reflected primarily our net loss of $8,807,573, increased primarily by stock-based compensation representing the amortization of deferred stock compensation of $8,060,983, and a bad debt provision of accounts receivable of $480,000, a reduction of accounts receivable of $158,500, and an increase in accounts payable and accrued expenses of $77,873.

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Cash provided by financing activities of $36,792 for the year ended December 31, 2024 and $9,970 for the year ended December 31, 2023 reflected advances from a minority stockholder. The advances in 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. The Company had minimal cash as of December 31, 2024, had no revenue for the year ended December 31, 2024, and incurred a loss from operations for the years ended December 31, 2024 and 2023 as well as prior years, and the losses and