Company: ACBM
Filing Date: 2025-07-11
Form Type: 10-Q
Source: 0001640334-25-001169
Chunk: 4

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-11
Form: 10-Q
Item: Item 8
Chunk 4
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 2022 Operating lease ROU asset $6,526  $25,719    September 30,  December 31,   2023  2022 Operating lease liabilities – all current portion $6,526  $25,719  Future minimum lease payments under operating leases at September 30, 2023, were as follows: Remainder of 2023 $6,570 2024 and thereafter  - Total $6,570  The Company recognized total lease expenses of $19,710 and $19,710 for the nine months ended September 30, 2023 and 2022, respectively and of $6,570 and $6,570 for the three months ended September 30, 2023 and 2022, 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