ACRO BIOMEDICAL CO., LTD. SEC 10-Q Report

ACRO Biomedical Co., Ltd., a company engaged in the development of biomedical products, has released its Form 10-Q report for the third quarter of 2023. The report highlights the company's financial performance and operational activities during a challenging period marked by the absence of revenue and significant operational expenses.

Financial Highlights

• Revenues: $0, The company did not generate any revenue during the three and nine months ended September 30, 2023.
• Gross Profit: $0, As there were no revenues, there was no gross profit reported for the three and nine months ended September 30, 2023.
• Loss from operations: $(1,588,700), The company incurred significant operating expenses, including research and development and selling, general and administrative expenses.
• Net loss: $(1,589,490), The net loss for the three months ended September 30, 2023, was primarily due to high operating expenses and the absence of revenue.
• Basic and diluted loss per share of common stock: $(0.03), Reflecting the net loss per share for the three months ended September 30, 2023.

Business Highlights

• Revenue Segments: The company did not generate any revenue during the nine months ended September 30, 2023. In the prior year, all revenue was derived from one customer during the first quarter of 2022.
• Geographical Performance: The company's business was impacted by COVID-19 and the Chinese government's Zero COVID policy, which was relaxed in December 2022. The political instability in Hong Kong also poses a risk to sales, as previous customers were based in Hong Kong and sold products in the PRC.
• Sales Units: There were no sales or purchases of inventory during the nine months ended September 30, 2023, or for any periods subsequent to September 30, 2023.
• New Product Launches: The company engaged in research and development activities for a proposed cordyceps-infused chicken feed product, but these efforts did not result in a marketable product.
• Future Outlook: The company faces significant risks in developing its business, including the ability to raise necessary financing, increase its customer base, and develop marketable products. The company does not have any orders for products and is reliant on advances from a minority stockholder and an officer for funding.

SEC Filing: ACRO BIOMEDICAL CO., LTD. [ ACBM ] - 10-Q - Jul. 11, 2025