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

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-23
Form: 10-Q
Item: Item 2
Chunk 23
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 ended September 30, 2024, we had no revenue or cost of revenue.  Our operating expenses were $9,106, which are primarily relating to expenses and professional fees relating to our status as a public company. We also incurred interest expense to a minority stockholder of $1,123. As a result, we had a net loss of $10,229, or $(0.00) per share (basic and diluted).

For the three months ended September 30, 2023, we had no revenue or cost of revenue.  Our operating expenses were $1,588,700, of which $396,550 represented research and development expenses related primarily to development work on our proposed cordyceps-infused chicken feed product, $700,150 represented selling, general and administrative expenses, of which $612,883 related to services provided by our consultants and the balance was primarily to expenses and professional fees relating to our status as a public company, $480,000 to the write-off of accounts receivable and $12,000 to the write-off of a deposit for inventory. The compensation to our consultants for research and development services and selling, general and administrative services totaling $1,009,433 represented the amortization of deferred stock compensation issued to the consultants in 2021. We also incurred interest expense to a minority stockholder of $790. As a result, we had a net loss of $1,589,490 or $(0.03) per share (basic and diluted).

For the nine months ended September 30, 2024, we had no revenue or cost of revenue.  Our operating expenses were $28,490, which are primarily relating to expenses and professional fees relating to our status as a public company. We also incurred interest expense to a minority stockholder of $3,134. As a result, we had a net loss of $31,624 or $(0.00) per share (basic and diluted).

For the nine months ended September 30, 2023, we had no revenues or cost of revenue, and we incurred operating expenses of $8,786,966, of which $4,794,825 represented research and development expenses related primarily to the cordyceps-infused chicken feed development project, $3,500,141 represented selling, general and administrative expenses, of which $3,266,158 related to services provided by our consultants and the balance primarily to expenses and professional fees relating to our status as a public company, $