Company: ACBM
Filing Date: 2025-07-18
Form Type: 10-K
Source: 0001640334-25-001245
Chunk: 128

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-18
Form: 10-K
Item: Item 13
Chunk 128
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 taxable income during the periods in which those temporary differences become deductible. Management considers projected future taxable income and tax planning strategies in making this assessment. Based on the assessment, management has established a full valuation allowance against all of the deferred tax assets for the year ended December 31, 2023 and 2022 because it is more likely than not that all of the deferred tax assets will not be realized.

 F-13Table of Contents

NOTE 6 - RELATED PARTY TRANSACTIONS At December 31, 2023 and 2022, the Company owed $1,100 to its chief executive officer for non-interest-bearing advances made to or on behalf of the Company, respectively. These advances are due on demand. During the years ended December 31, 2023 and 2022, a minority stockholder advanced $0 and $55,000 paid expenses of $9,970 and $3,085 on behalf of the Company, all of which was outstanding on December 31, 2023. At December 31, 2023 and 2022, the Company owed $87,696 and $77,726 to the minority stockholder referred to in the preceding paragraph for non-interest-bearing advances made to or 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 on behalf of the Company. Imputed interest amounted to $3,206 and $1,706, during the years ended December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, the Company had amounts due to related parties of $88,796 and $78,826, 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