Company: ACBM
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001640334-25-001279
Chunk: 26

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-23
Form: 10-Q
Item: Item 1
Chunk 26
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 administrative services totaling $3,123,450 represented the amortization of deferred stock compensation issued to the consultants in 2021. We also incurred interest expense to a minority stockholder of $789. As a result, we had a net loss of $3,195,489 or $(0.05) per share (basic and diluted).

For the six months ended June 30, 2024, we had no revenue or cost of revenue.  Our operating expenses were $19,384 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 $2,011. As a result, we had a net loss of $21,395 or $(0.00) per share (basic and diluted).

For the six months ended June 30, 2023, we had no revenues or cost of revenues, and we incurred operating expenses of $7,198,266, of which $4,398,275 represented research and development expenses related primarily to the development of cordyceps-infused chicken feed, $2,799,991 represented selling, general and administrative expenses, of which $2,653,275 related to services provided by our consultants and $146,716 to expenses and professional fees relating to our status as a public company. The compensation to our consultants for research and development services and selling, general and administrative services totaling $7,051,550 represented the amortization of deferred stock compensation issued to the consultants in 2021. We also incurred interest expense to a minority stockholder of $1,577. As a result, we had a net loss of $7,199,843 or $(0.12) per share (basic and diluted).

Liquidity and Capital Resources

The following table summarizes our changes in working capital from December 31, 2023 to June 30, 2024:

  June 302024  December 31,2023  Change  % Change Current assets $926  $1,626  $(700 )  (43.1 )%Current liabilities $308,029  $288,575  $19,454   6.7%Working capital (deficiency)  $(307,103 ) $(286,949 ) $(20,154)   7.0%

The following table summarizes our cash flows for the six months ended June 30, 2024