Company: ACBM
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001640334-25-001281
Chunk: 7

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-23
Form: 10-Q
Item: Item 1
Chunk 7
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 revenue subsequent to December 31, 2023 through the date of this report, and incurred a loss from operations for the nine months ended September 30, 2024, the years ended December 31, 2023 and 2022 as well as prior years, had negative cash flow from operations for the nine months ended September 30, 2024 and the years ended December 31, 2023 and 2022. To date, the Company has not generated any revenue subsequent to December 31, 2022 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, as a result of which the Company may not be able to raise funds for capital expenditures, working capital and other cash requirements and will have to rely on advances from a minority stockholder and an officer. If the Company cannot generate revenue from its products, it may not be able to continue in its business.

NOTE 4 - RELATED PARTY TRANSACTIONS AND BALANCES During the nine months ended September 30, 2024 and 2023, a minority stockholder who is not a 5% stockholder advanced $1,000 and $0 and paid expenses of $25,502 and $252 on behalf of the Company, respectively. During the three months ended September 30, 2024 and 2023, such minority stockholder paid expenses of $6,110 and $108 on behalf of the Company, respectively. At September 30, 2024 and December 31, 2023, the Company owed $114,198 and $