ACRO BIOMEDICAL CO., LTD.

2020 Q1 Form 10-Q Financial Statement

#000164033420001279 Filed on May 19, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.64K $410.00
YoY Change 2495.12% -99.91%
Cash & Equivalents $10.64K $412.00
Short-Term Investments
Other Short-Term Assets $612.0K $13.99K
YoY Change 4274.55% -84.46%
Inventory $350.0K $1.060M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $972.6K $1.074M
YoY Change -9.47% 24.93%
LONG-TERM ASSETS
Property, Plant & Equipment $42.58K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.230K $65.07K
YoY Change -93.5%
Total Long-Term Assets $46.81K $65.07K
YoY Change -28.06% 550.7%
TOTAL ASSETS
Total Short-Term Assets $972.6K $1.074M
Total Long-Term Assets $46.81K $65.07K
Total Assets $1.019M $1.139M
YoY Change -10.53% 30.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.07K $10.62K
YoY Change 41.9% -46.9%
Accrued Expenses $26.36K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $62.02K $0.00
YoY Change
Long-Term Debt Due $18.41K
YoY Change
Total Short-Term Liabilities $123.5K $141.3K
YoY Change -12.6% -32.74%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $16.20K
YoY Change
Total Long-Term Liabilities $16.20K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $123.5K $141.3K
Total Long-Term Liabilities $16.20K $0.00
Total Liabilities $139.7K $141.3K
YoY Change -1.13% -32.74%
SHAREHOLDERS EQUITY
Retained Earnings -$40.09K
YoY Change
Common Stock $919.9K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $879.8K $998.2K
YoY Change
Total Liabilities & Shareholders Equity $1.019M $1.139M
YoY Change -10.53% 30.97%

Cashflow Statement

Concept 2020 Q1 2019 Q1

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
37607 USD
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
412 USD
CY2019Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
26279 USD
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2019Q4 us-gaap Common Stock Value
CommonStockValue
47760 USD
CY2020Q1 us-gaap Common Stock Value
CommonStockValue
47760 USD
CY2019Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
871680 USD
CY2020Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
872121 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-121201 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
1167860 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
998218 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
687964 USD
CY2020Q1 us-gaap Cost Of Revenue
CostOfRevenue
528560 USD
CY2020Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2020Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2020Q1 acbm Imputed Interest
ImputedInterest
93 USD
CY2019Q1 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 USD
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-40085 USD
CY2020Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2020Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2020Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
47760000 shares
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
47760000 shares
CY2020Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
47760000 shares
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
47760000 shares
CY2019Q1 acbm Imputed Interest Related Parties
ImputedInterestRelatedParties
-108 USD
CY2019Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3036 USD
CY2020Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-17464 USD
CY2019Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
20000 USD
CY2020Q1 us-gaap Gross Profit
GrossProfit
159404 USD
CY2020Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
77847 USD
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
214766 USD
CY2020Q1 us-gaap Operating Expenses
OperatingExpenses
77847 USD
CY2019Q1 us-gaap Operating Expenses
OperatingExpenses
214766 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
81557 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-214766 USD
CY2020Q1 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
441 USD
CY2019Q1 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
108 USD
CY2020Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-441 USD
CY2019Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-108 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
81116 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-214874 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-45124 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
81116 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-169750 USD
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.00
CY2019Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.00
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
47760000 shares
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
47760000 shares
CY2019Q1 acbm Adjustments To Additional Paid In Capital Imputed Interest On Related Party Loans
AdjustmentsToAdditionalPaidInCapitalImputedInterestOnRelatedPartyLoans
108 USD
CY2020Q1 acbm Adjustments To Additional Paid In Capital Imputed Interest On Related Party Loans
AdjustmentsToAdditionalPaidInCapitalImputedInterestOnRelatedPartyLoans
441 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
148395 USD
CY2020Q1 acbm Imputed Interest Related Parties
ImputedInterestRelatedParties
-441 USD
CY2019Q1 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
45124 USD
CY2020Q1 acbm Increase Decrease In Right Of Use Asset And Lease Liability
IncreaseDecreaseInRightOfUseAssetAndLeaseLiability
2095 USD
CY2020Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-528560 USD
CY2020Q1 acbm Increase Decrease In Purchase Deposit For Inventory
IncreaseDecreaseInPurchaseDepositForInventory
600000 USD
CY2020Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
12000 USD
CY2019Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
9000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-8762 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-26014 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-52335 USD
CY2020Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
35739 USD
CY2019Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
15140 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
35739 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
15140 USD
CY2020Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
9725 USD
CY2019Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-37195 USD
CY2020Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2019Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
0 USD
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
0 USD
CY2019Q1 acbm Imputed Interest
ImputedInterest
0 USD
CY2020Q1 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-17127 USD
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
6285 USD
CY2020Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
39248 USD
CY2020Q1 acbm Net Operating Losses Utilized
NetOperatingLossesUtilized
-17127 USD
CY2020Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
22121 USD
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
39248 USD
CY2019Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
7560 USD

Files In Submission

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0001640334-20-001279-index-headers.html Edgar Link pending
0001640334-20-001279-index.html Edgar Link pending
0001640334-20-001279.txt Edgar Link pending
0001640334-20-001279-xbrl.zip Edgar Link pending
acbm-20200331.xml Edgar Link completed
acbm-20200331.xsd Edgar Link pending
acbm-20200331_cal.xml Edgar Link unprocessable
acbm-20200331_def.xml Edgar Link unprocessable
acbm-20200331_lab.xml Edgar Link unprocessable
acbm-20200331_pre.xml Edgar Link unprocessable
acbm_10q.htm Edgar Link pending
acbm_ex311.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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