Company: ACBM
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001640334-25-001281
Chunk: 24

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-23
Form: 10-Q
Item: Item 2
Chunk 24
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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 $8,060,983 represented the amortization of deferred stock compensation issued to the consultants in 2021. We also incurred interest expense to a minority stockholder of $2,367. As a result, we had a net loss of $8,789,333, or $(0.15) per share (basic and diluted).

Liquidity and Capital Resources

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

  September 302024  December 31,2023  Change  % Change Current assets $701  $1,626  $(925 )  (56.9 )%Current liabilities $317,304  $288,575  $28,729   10.0%Working capital (deficiency)  $(316,603 ) $(286,949 ) $(29,654)  10.3%

The following table summarizes our cash flows for the nine months ended September 30, 2024 and 2023: 

  Nine Months EndedSeptember 30,   2024  2023 Cash (used in) operating activities $(26,177 ) $(2,833 )Cash provided by financing activities $26,502  $252 Cash at end of period $701  $3,271 

 13Table of Contents

Cash used in operating activities of $26,177 for the nine months ended September 30, 2024 reflected primarily our net loss of $31,624, increased primarily by imputed interest of $3,134, a reduction of prepaid expenses of $1,250 and by an increase in accounts payable and accrued expenses of $1,063.

Cash used in operating activities of $2,833 for the nine months ended September 30, 2023 reflected primarily our net loss of $8,789,333, increased primarily by stock-based compensation representing the amortization of deferred stock compensation of $8,060,983, a write-off of accounts receivable of $480,000, a reduction of accounts receivable of $158,500, and an increase in accounts payable and accrued expenses of $76