Company: ACBM
Filing Date: 2025-07-11
Form Type: 10-Q
Source: 0001640334-25-001169
Chunk: 23

Company: ACRO BIOMEDICAL CO., LTD.
Filing Date: 2025-07-11
Form: 10-Q
Item: Item 1
Chunk 23
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3 and 2022.

NOTE 3 - GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. The Company had minimal cash as of September 30, 2023, had no revenue for the nine months ended September 30, 2023, and incurred a loss from operations for nine months ended September 30, 2023 and losses have continued subsequent to September 30, 2023, had negative cash flow from operations for the nine months ended September 30, 2023 and 2022. To date, the Company has not generated any revenue subsequent to September 30, 2023 and did not generate any products from its research and development activities. Further, the Company’s common stock is presently on the OTC Market Group’s Expert Market, which means that the Company’s common stock is not eligible for proprietary broker-deal quotes, with the result that there are no published quotes for the Company’s common stock.  These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Although the Company proposes to fund operations through sales of its products and equity financing arrangements, it does not presently have any orders for products, it incurred a write-off of accounts receivable of $480,000 with respect to sales previously made, its common stock is reported on the Expert Market as a result of which there are no market makers in the common stock and  it is delinquent in its filings with the Securities and Exchange Commission, as a result of which the Company may not be able to raise funds for capital expenditures, working capital and other cash requirements and will have to rely on advances from a minority stockholder and an officer. If the Company cannot generate revenue from its products, it may not be able to continue in its business.

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NOTE 4 - RELATED PARTY TRANSACTIONS AND BALANCES During the nine months ended September 30, 2023 and 2022, a minority stockholder who is not a 5% stockholder paid expenses of $252 and $2,853 on behalf of the Company, respectively. During the three months ended September 30, 2023 and 2022, such minority stockholder paid expenses of $108 and