Company: ACBM
Filing Date: 2025-07-18
Form Type: 10-K
Source: 0001640334-25-001245
Chunk: 314

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-18
Form: 10-K
Item: Item 2
Chunk 314
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ivable at December 31, 2022 are not collectible and wrote off $480,000 of such accounts receivable during the year ended December 31, 2023. There was no impairment of accounts receivable during the year ended December 31, 2022.

 F-8Table of Contents

Inventories Inventories consist of finished goods. Inventories are valued at the lower of cost or net realizable value. The Company determines cost on the basis of first-in, first-out methods. The Company periodically reviews inventories for obsolescence and any inventories identified as obsolete are written down or written off. The Company has no inventory at December 31, 2023 or 2022. The Company wrote off of purchase deposit for inventory of $12,000 for the year ended December 31, 2023.  Leases The Company determines if an arrangement is a lease at inception. Operating leases with a term of longer than one year are included in operating lease right-of-use (“ROU”) assets, other current liabilities, and operating lease liabilities in the Company’ balance sheets. Finance leases are included in property and equipment, other current liabilities, and other long-term liabilities in the Company’s balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company generally uses its incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Leases with a lease term of one year or less at inception are not recorded on the Company’s balance sheet and are expensed on a straight-line basis over the lease term in the statement of operations. Net (Loss) Per Share of Common Stock The Company has adopted ASC Topic 260, ”Earnings per Share” which requires presentation of basic earnings per share on the face of the statements of operations for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic earnings