Company: ACBM
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001640334-25-001347
Chunk: 7

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 7
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 due on demand. At June 30, 2025 and December 31, 2024, the Company owed $1,100 to its chief executive officer for non-interest-bearing advances made to or paid expenses on behalf of the Company which amounts are due on demand.

 9Table of Contents

The Company has imputed interest at the rate of 4% on the advances made to or paid expenses on behalf of the Company in the amount of $3,315 and $2,011 during the six months ended June 30, 2025 and 2024, respectively, and in the amount of $1,948 and $1,057 during the three months ended June 30, 2025 and 2024, respectively.

NOTE 5 - LEASES 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) per month and HK$35,800 (approximately $4,600) as a security deposit.  These payments were paid by a minority stockholder on behalf of the Company (see Note 4).  The lease expires in December 2025. In accordance with ASC 842, the Company recognized operating lease ROU assets and lease liabilities, which had balances as follows:   June 30,  December 31,   2025  2024 Operating lease ROU asset $13,651  $26,898    June 30,  December 31, Operating lease liabilities 2025  2024 Current portion $13,651  $26,898 Non-current portion  -   - Total $13,651  $26,898  Future minimum lease payments under operating leases at June 30, 2025, were as follows: Remainder of 2025 $13,890 Thereafter  - Total  13,890 Less Imputed interest  (239)Operating lease liabilities $13,651  The Company recognized total lease expenses of $13,890 and $13,890 for the six months ended June 30, 2025 and 2024, respectively and $6,945 and $6,945 for the three months ended June