Company: ACBM
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001640334-25-001257
Chunk: 25

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-22
Form: 10-Q
Item: Item 1
Chunk 25
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 (basic and diluted).

Liquidity and Capital Resources

The following table summarizes our changes in working capital from December 31, 2023 to March 31, 2024:

  March 312024  December 31,2023  Change  % Change Current assets $151  $1,626  $(1,475 )  (90.7 )%Current liabilities $297,780  $288,575  $9,205   3.2%Working capital (deficiency)  $(297,629 ) $(286,949 ) $(10,680 )  3.7%

The following table summarizes our cash flows for the three months ended March 31, 2024 and 2023: 

  Three months EndedMarch 31,   2024  2023 Cash (used in) operating activities $(13,513 ) $(5,566 )Cash provided by financing activities $13,288  $36 Cash at end of period $151  $322 

 13Table of Contents

Cash used in operating activities of $13,513 for the three months ended March 31, 2024 reflected primarily our net loss of $11,252, increased primarily by a decrease in accounts payable and accrued expenses of $2,150 and a change in operating lease liability of $2,315.

Cash used in operating activities of $5,566 for the three months ended March 31, 2023 reflected primarily our net loss of $4,004,354, increased primarily by stock-based compensation representing the amortization of deferred stock compensation of $3,928,100, as well as an increase in accounts payable and accrued expenses of $51,215 and a decrease in accounts receivable of $30,000.

Cash provided by financing activities for the three months ended March 31, 2024 and 2023 reflected advances from a minority stockholder.

Going Concern

The accompanying financial statements have been prepared assuming that we will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. We had minimal cash as of March 31, 2024, had no revenue for the year ended December 31, 2023 and has not generated any revenue subsequent to December 31, 2023 through the date of this report, and incurred a loss from operations