2021 Q4 Form 10-K Financial Statement

#000164033422000809 Filed on April 15, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $95.25K $95.25K $18.12K
YoY Change 425.66% 425.66% 1891.21%
Cash & Equivalents $95.25K $95.25K $18.12K
Short-Term Investments
Other Short-Term Assets $13.17K $13.17K $17.23K
YoY Change -23.56% -23.56%
Inventory $0.00 $0.00 $938.0K
Prepaid Expenses $1.167K $1.000K
Receivables $598.0K $598.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $706.4K $706.4K $973.4K
YoY Change -27.42% -27.42% 10.67%
LONG-TERM ASSETS
Property, Plant & Equipment $50.43K $50.43K $24.70K
YoY Change 104.17% 104.17% -49.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.230K $4.230K
YoY Change
Total Long-Term Assets $54.66K $54.66K $24.70K
YoY Change 121.3% 121.3% -53.09%
TOTAL ASSETS
Total Short-Term Assets $706.4K $706.4K $973.4K
Total Long-Term Assets $54.66K $54.66K $24.70K
Total Assets $761.1K $761.1K $998.1K
YoY Change -23.74% -23.74% 7.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $26.20K $26.20K $20.00K
YoY Change 31.0% 5.94% -16.07%
Accrued Expenses $24.71K $24.71K $24.50K
YoY Change 0.86% 0.86% 2.25%
Deferred Revenue
YoY Change
Short-Term Debt $20.74K $20.74K $243.0K
YoY Change -91.46% -91.46% 824.47%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $91.65K $91.65K $312.2K
YoY Change -70.64% -70.64% 179.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $25.72K $25.72K $0.00
YoY Change -100.0%
Total Long-Term Liabilities $25.72K $25.72K $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $91.65K $91.65K $312.2K
Total Long-Term Liabilities $25.72K $25.72K $0.00
Total Liabilities $117.4K $117.4K $312.2K
YoY Change -62.4% -62.4% 133.17%
SHAREHOLDERS EQUITY
Retained Earnings -$7.936M -$238.7K
YoY Change 3225.52% 96.91%
Common Stock $32.35M $924.5K
YoY Change 3399.49% 0.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $643.7K $643.7K $685.9K
YoY Change
Total Liabilities & Shareholders Equity $761.1K $761.1K $998.1K
YoY Change -23.74% -23.74% 7.07%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 1 -ORGANIZATION AND DESCRIPTION OF BUSINESS</strong></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 0.35pt; 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. Cordyceps is a fungus that is used in traditional Chinese medicine. During the second and third quarters 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>
CY2021 us-gaap Use Of Estimates
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with GAAP 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>
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables that it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high creditworthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits.</p>
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CY2020 us-gaap Operating Lease Expense
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Files In Submission

Name View Source Status
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0001640334-22-000809.txt Edgar Link pending
0001640334-22-000809-xbrl.zip Edgar Link pending
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acro_10k.htm Edgar Link pending
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