ACRO BIOMEDICAL CO., LTD.

2021 Q2 Form 10-Q Financial Statement

#000164033421001236 Filed on May 24, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2021 Q1 2020 Q1

Balance Sheet

Concept 2021 Q2 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $215.5K $24.36K $10.64K
YoY Change 56607.89% 128.95% 2495.12%
Cash & Equivalents $215.5K $24.36K $10.64K
Short-Term Investments
Other Short-Term Assets $24.40K $27.90K $612.0K
YoY Change 28.42% -95.44% 4274.55%
Inventory $448.0K $868.0K $350.0K
Prepaid Expenses $8.167K $11.67K
Receivables
Other Receivables
Total Short-Term Assets $687.9K $920.3K $972.6K
YoY Change -28.15% -5.39% -9.47%
LONG-TERM ASSETS
Property, Plant & Equipment $12.47K $18.62K $42.58K
YoY Change -66.0% -56.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.230K
YoY Change -93.5%
Total Long-Term Assets $12.47K $18.62K $46.81K
YoY Change -69.51% -60.23% -28.06%
TOTAL ASSETS
Total Short-Term Assets $687.9K $920.3K $972.6K
Total Long-Term Assets $12.47K $18.62K $46.81K
Total Assets $700.4K $938.9K $1.019M
YoY Change -29.84% -7.9% -10.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.07K $14.07K $15.07K
YoY Change 1028.04% -6.64% 41.9%
Accrued Expenses $12.15K $18.36K $26.36K
YoY Change -54.32% -30.35%
Deferred Revenue
YoY Change
Short-Term Debt $15.93K $257.6K $62.02K
YoY Change -87.11% 315.3%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $60.16K $310.0K $123.5K
YoY Change -64.88% 151.11% -12.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $16.20K
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $16.20K
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $60.16K $310.0K $123.5K
Total Long-Term Liabilities $0.00 $0.00 $16.20K
Total Liabilities $60.16K $310.0K $139.7K
YoY Change -66.81% 121.98% -1.13%
SHAREHOLDERS EQUITY
Retained Earnings -$1.093M -$298.1K -$40.09K
YoY Change 952.99% 643.79%
Common Stock $20.24M $927.0K $919.9K
YoY Change 42278.54% 0.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $640.2K $628.9K $879.8K
YoY Change
Total Liabilities & Shareholders Equity $700.4K $938.9K $1.019M
YoY Change -29.84% -7.9% -10.53%

Cashflow Statement

Concept 2021 Q2 2021 Q1 2020 Q1

Facts In Submission

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<div> <div> <div> <div> <p style="FONT-SIZE:10pt;FONT-FAMILY:times new roman;MARGIN:0px 0px 0px 0in;text-align:justify">NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS</p> <div> <div> <p style="FONT-SIZE:10pt;FONT-FAMILY:times new roman;MARGIN:0px;text-align:justify">&#160;</p> <p style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:Times New Roman, Times, serif">Acro Biomedical Co., Ltd. (the &#x201c;Company&#x201d;) is a Nevada corporation incorporated on September 24, 2014 under the name Killer Waves Hawaii, Inc. On January 30, 2017, the Company&#x2019;s corporate name was changed to Acro Biomedical Co., Ltd.</p> <p style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:Times New Roman, Times, serif">&#160;</p> <p style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:Times New Roman, Times, serif">The Company&#x2019;s business is the sale of cordyceps related products and, to a significantly lesser extent, metallothionein MT-3 elizer, a protein that in powder form is used in health supplements. Cordyceps is a fungus that is used in traditional Chinese medicine. The Company has not sold metallothionein MT-3 elizer since the quarter ended June 30, 2018, and its present inventory and the purchase deposit for inventory are for cordyceps related products. Although the Company plans to develop a marketing plan to market the product they purchase to its customers, primarily in Hong Kong, and to develop and supply products to customers as of March 31, 2021, the Company has not taken any action with respect to its marketing plans, and it can provide no assurance that it will be able to conduct such activities.</p> </div> </div> </div> </div> </div> </div>
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Files In Submission

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