Company: ACBM
Filing Date: 2025-07-11
Form Type: 10-Q
Source: 0001640334-25-001169
Chunk: 25

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-11
Form: 10-Q
Item: Item 1
Chunk 25
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, respectively.

 10Table of Contents

NOTE 6 – STOCKHOLDERS' EQUITY The Company issued a total of 6,776,000 and 5,506,000 shares of common stock to consultants as stock grants pursuant to two-year consulting agreements with the consultants entered into 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 were issued as restricted stock grants 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 is being amortized over the two-year period starting from the date of agreement using the straight-line method. During the nine months ended September 30, 2023 and 2022, the Company recorded stock-based compensation of $8,060,983 and $11,784,300, respectively, and during the three months ended September 30, 2023 and 2022, the Company recorded stock-based compensation of $1,009,433 and $3,928,100, respectively. The Company had deferred stock compensation of $0 and $8,060,983 as of September 30, 2023 and December 31, 2022, respectively. The deferred stock compensation was fully amortized at September 30, 2023.

NOTE 7 - CONCENTRATION Revenue During the three and nine months ended September 30, 2023, the Company did not generate revenue. During the three months ended September 30, 2022, the Company did not generate revenue. During the nine months ended September 30, 2022, all revenue was derived from one customer which was generated during the first quarter of 2022. Purchases During the three and nine months ended September 30, 2023, the Company did not purchase inventory. During the three months ended September 30, 2022, the Company did not purchase inventory. During the nine months