Company: ACBM
Filing Date: 2025-07-18
Form Type: 10-K
Source: 0001640334-25-001245
Chunk: 319

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-18
Form: 10-K
Item: Item 2
Chunk 319
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 have any orders for products, it incurred a write-off of accounts receivable of $480,000 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 - EQUITY Common Stock The Company issued a total of 6,776,000 and 5,506,000 shares of common stock to consultants as stock grants pursuant to agreements with the consultants in May 2021 and August 2021, respectively, of which 11,912,000 shares were issued pursuant to the 2020 equity incentive plan. (the “Plan”) and 370,000 shares were issued as restricted stock outside of the Plan. The agreements provide for the consultants to perform services described in the contracts for the two-year period commencing May 25, 2021 and August 23, 2021. The shares were valued at $19,311,600 and $12,113,200, based on the market price of the common stock on the respective dates of the agreements, which was $2.85 and $2.20 per share, respectively, and was amortized over two-year period starting from the date of the agreement using the straight-line method. During the year ended December 31, 2023 and 2022, the Company recorded stock-based compensation of $8,060,983 and $15,712,400, respectively, and had deferred stock compensation of $0 and $8,060,983 as of December 31, 2023 and 2022, respectively. At December 31, 2023, these stock grants were fully amortized. During the years ended December 31, 2023 and 2022, the Company did not issue any shares of common stock.

 F-12Table of Contents

NOTE 5 - INCOME TAXES The reconciliation of income tax expense at the U.S. statutory rate of 21% to the Company’s effective tax rate is as follows:   Year Ended   December 31