Company: ACBM
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001640334-25-001279
Chunk: 35

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-23
Form: 10-Q
Item: Item 8
Chunk 35
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 Company owed $108,088 and $87,696 to the minority stockholder referred to in the preceding paragraph for non-interest-bearing advances made to or expenses paid on behalf of the Company, and these amounts are due on demand. At June 30, 2024 and December 31, 2023, the Company owed $1,100 to its chief executive officer for non-interest-bearing advances made to or paid expenses on behalf of the Company which amounts are due on demand. The Company has imputed interest at the rate of 4% on the advances made to or paid expenses on behalf of the Company in the amount of $2,011 and $1,577 during the six months ended June 30, 2024 and 2023, respectively and in the amount of $1,057 and $789 during the three months ended June 30, 2024 and 2023, respectively.

 9Table of Contents

NOTE 5 - LEASES On November 1, 2023, the Company entered into a lease agreement to rent a storage facility in Hong Kong for a two-year term at an annual rental of HK$17,900 (approximately $2,315) per month and HK$35,800 (approximately $4,600) as a security deposit.  These payments were paid by a minority stockholder on behalf of the Company (see Note 4).  The lease expires in December 2025. In accordance with ASC 842, the Company recognized operating lease ROU assets and lease liabilities, which had balances as follows:   June 30,  December 31,   2024  2023 Operating lease ROU asset $39,755  $52,233    June 30,  December 31, Operating lease liabilities 2024  2023 Current portion $26,105  $25,335 Non-current portion  13,650   26,898 Total $39,755  $52,233  Future minimum lease payments under operating leases at June 30, 2024, were as follows: Remainder of 2024 $13,890 2025  27,780 Thereafter  - Total  41,670 Less Imputed interest  (1,915)Operating lease liabilities $39,755  The Company