ACRO BIOMEDICAL CO., LTD.

2021 Q3 Form 10-Q Financial Statement

#000164033421002018 Filed on August 23, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q4

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $154.7K $215.5K $18.12K
YoY Change 96562.5% 56607.89% 1891.21%
Cash & Equivalents $154.7K $215.5K $18.12K
Short-Term Investments
Other Short-Term Assets $20.90K $24.40K $17.23K
YoY Change 30.63% 28.42%
Inventory $448.0K $448.0K $938.0K
Prepaid Expenses $4.667K $8.167K $1.000K
Receivables
Other Receivables
Total Short-Term Assets $623.6K $687.9K $973.4K
YoY Change -34.65% -28.15% 10.67%
LONG-TERM ASSETS
Property, Plant & Equipment $6.270K $12.47K $24.70K
YoY Change -79.59% -66.0% -49.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $6.268K $12.47K $24.70K
YoY Change -82.07% -69.51% -53.09%
TOTAL ASSETS
Total Short-Term Assets $623.6K $687.9K $973.4K
Total Long-Term Assets $6.268K $12.47K $24.70K
Total Assets $629.8K $700.4K $998.1K
YoY Change -36.32% -29.84% 7.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.07K $12.07K $20.00K
YoY Change 216.96% 1028.04% -16.07%
Accrued Expenses $5.890K $12.15K $24.50K
YoY Change -78.06% -54.32% 2.25%
Deferred Revenue
YoY Change
Short-Term Debt $19.65K $15.93K $243.0K
YoY Change -89.55% -87.11% 824.47%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $61.61K $60.16K $312.2K
YoY Change -74.32% -64.88% 179.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.61K $60.16K $312.2K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $61.61K $60.16K $312.2K
YoY Change -74.71% -66.81% 133.17%
SHAREHOLDERS EQUITY
Retained Earnings -$4.084M -$1.093M -$238.7K
YoY Change 2208.68% 952.99% 96.91%
Common Stock $32.35M $20.24M $924.5K
YoY Change 3407.65% 42278.54% 0.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $568.2K $640.2K $685.9K
YoY Change
Total Liabilities & Shareholders Equity $629.8K $700.4K $998.1K
YoY Change -36.32% -29.84% 7.07%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q4

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2020Q4 us-gaap Cash
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CY2021Q2 us-gaap Assets Current
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CY2021Q2 us-gaap Liabilities
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CY2020Q4 us-gaap Liabilities
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CY2021Q2 us-gaap Preferred Stock Shares Authorized
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CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
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CY2020Q4 us-gaap Common Stock Shares Issued
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CY2020Q4 us-gaap Common Stock Value
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CY2021Q2 us-gaap Liabilities And Stockholders Equity
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CY2020Q4 us-gaap Liabilities And Stockholders Equity
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CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2020Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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0 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
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599500 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2021Q2 us-gaap Cost Of Revenue
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420000 USD
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us-gaap Cost Of Revenue
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us-gaap Cost Of Revenue
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us-gaap Gross Profit
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us-gaap Gross Profit
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159404 USD
CY2021Q2 us-gaap Selling General And Administrative Expense
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CY2020Q2 us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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CY2021Q2 us-gaap Research And Development Expense
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CY2020Q2 us-gaap Research And Development Expense
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us-gaap Research And Development Expense
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us-gaap Research And Development Expense
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CY2020Q2 us-gaap Operating Expenses
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us-gaap Operating Expenses
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us-gaap Operating Expenses
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CY2021Q2 us-gaap Operating Income Loss
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-793320 USD
CY2020Q2 us-gaap Operating Income Loss
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-62771 USD
us-gaap Operating Income Loss
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-850311 USD
us-gaap Operating Income Loss
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18786 USD
CY2021Q2 us-gaap Interest Expense Related Party
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CY2020Q2 us-gaap Interest Expense Related Party
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us-gaap Interest Expense Related Party
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3870 USD
us-gaap Interest Expense Related Party
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1369 USD
CY2021Q2 us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
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CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Tax Expense Benefit
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CY2021Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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CY2020Q2 us-gaap Income Tax Expense Benefit
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CY2021Q2 us-gaap Net Income Loss
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CY2020Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
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us-gaap Earnings Per Share Basic And Diluted
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us-gaap Earnings Per Share Basic And Diluted
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CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Net Income Loss
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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acbm Change Of Rou Asset And Lease Liabilities
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
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acbm Increase Decrease In Purchase Deposit For Inventory
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acbm Increase Decrease In Purchase Deposit For Inventory
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us-gaap Use Of Estimates
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ from these good faith estimates and judgments.</p>
us-gaap Income Taxes Paid
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us-gaap Income Taxes Paid
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us-gaap Increase Decrease In Deferred Revenue
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us-gaap Increase Decrease In Deferred Revenue
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Repayments Of Related Party Debt
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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us-gaap Nature Of Operations
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<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><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">Acro Biomedical Co., Ltd. (the “Company”) is a Nevada corporation incorporated on September 24, 2014 under the name Killer Waves Hawaii, Inc. On January 30, 2017, the Company’s corporate name was changed to Acro Biomedical Co., Ltd.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company’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. During the second quarter of 2021, the Company engaged consultants to take the initial steps to develop and implement a research and development and marketing program.  These consultants are working independently and report to the chief executive officer.  The Company cannot give any assurance that the marketing and research development activities will generate any new product or new marketing opportunities or generate any significant revenue.</p>
us-gaap Repayments Of Related Party Debt
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241851 USD
us-gaap Repayments Of Related Party Debt
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CY2021Q2 us-gaap Deferred Compensation Liability Current
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18506950 USD

Files In Submission

Name View Source Status
0001640334-21-002018-index-headers.html Edgar Link pending
0001640334-21-002018-index.html Edgar Link pending
0001640334-21-002018.txt Edgar Link pending
0001640334-21-002018-xbrl.zip Edgar Link pending
acbm-20210630.xsd Edgar Link pending
acbm-20210630_cal.xml Edgar Link unprocessable
acbm-20210630_def.xml Edgar Link unprocessable
acbm-20210630_lab.xml Edgar Link unprocessable
acbm-20210630_pre.xml Edgar Link unprocessable
acbm_10q.htm Edgar Link pending
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acbm_ex311.htm Edgar Link pending
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