ACRO BIOMEDICAL CO., LTD.

$ Overview Financials Valuation SEC Filings Company Website

2022 Q2 Form 10-Q Financial Statement

#000164033422001037 Filed on May 16, 2022

Income Statement

Concept	2022 Q2	2022 Q1	2021 Q1

Balance Sheet

Concept	2022 Q2	2022 Q1	2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$12.11K	$357.7K	$24.36K
YoY Change	-94.38%	1368.27%	128.95%
Cash & Equivalents	$12.11K	$357.7K	$24.36K
Short-Term Investments
Other Short-Term Assets	$20.30K	$23.85K	$27.90K
YoY Change	-16.8%	-14.52%	-95.44%
Inventory	$296.0K		$868.0K
Prepaid Expenses	$8.295K	$11.85K	$11.67K
Receivables	$298.5K	$298.5K
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$626.9K	$680.0K	$920.3K
YoY Change	-8.87%	-26.11%	-5.39%
LONG-TERM ASSETS
Property, Plant & Equipment	$38.20K	$44.35K	$18.62K
YoY Change	206.34%	138.18%	-56.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$4.230K	$4.230K
YoY Change
Total Long-Term Assets	$42.43K	$48.58K	$18.62K
YoY Change	240.14%	160.91%	-60.23%
TOTAL ASSETS
Total Short-Term Assets	$626.9K	$680.0K	$920.3K
Total Long-Term Assets	$42.43K	$48.58K	$18.62K
Total Assets	$669.3K	$728.6K	$938.9K
YoY Change	-4.43%	-22.4%	-7.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$15.00K	$0.00	$14.07K
YoY Change	24.28%	-100.0%	-6.64%
Accrued Expenses	$25.21K	$24.96K	$18.36K
YoY Change	107.49%	35.95%	-30.35%
Deferred Revenue
YoY Change
Short-Term Debt	$21.25K	$21.03K	$257.6K
YoY Change	33.4%	-91.84%	315.3%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$81.46K	$65.99K	$310.0K
YoY Change	35.4%	-78.71%	151.11%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$12.99K	$19.39K
YoY Change
Total Long-Term Liabilities	$12.99K	$19.39K	$0.00
YoY Change			-100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities	$81.46K	$65.99K	$310.0K
Total Long-Term Liabilities	$12.99K	$19.39K	$0.00
Total Liabilities	$94.44K	$85.38K	$310.0K
YoY Change	56.99%	-72.46%	121.98%
SHAREHOLDERS EQUITY
Retained Earnings	-$15.86M	-$11.87M	-$298.1K
YoY Change	1351.45%	3879.66%	643.79%
Common Stock	$60.04K	$60.04K	$927.0K
YoY Change	-99.7%	-93.52%	0.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$574.9K	$643.2K	$628.9K
YoY Change
Total Liabilities & Shareholders Equity	$669.3K	$728.6K	$938.9K
YoY Change	-4.43%	-22.4%	-7.9%

Cashflow Statement

Concept	2022 Q2	2022 Q1	2021 Q1

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2022Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	60042000	shares
CY2021Q4	us-gaap	Accounts Receivable Net AccountsReceivableNet	598000	USD
CY2022Q1	acro	Purchase Deposit For Inventory PurchaseDepositForInventory	12000	USD
CY2021Q4	acro	Purchase Deposit For Inventory PurchaseDepositForInventory	12000	USD
CY2021Q4	us-gaap	Assets Current AssetsCurrent	706415	USD
CY2021Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	50432	USD
CY2021Q4	us-gaap	Security Deposit SecurityDeposit	4230	USD
CY2021Q4	us-gaap	Assets Assets	761077	USD
CY2022Q1	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	0	USD
CY2021Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	26197	USD
CY2022Q1	us-gaap	Deferred Revenue DeferredRevenue	20000	USD
CY2021Q4	us-gaap	Deferred Revenue DeferredRevenue	20000	USD
CY2022Q1	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	21029	USD
CY2021Q4	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	20741	USD
CY2022Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	24961	USD
CY2021Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	24713	USD
CY2022Q1	us-gaap	Liabilities Current LiabilitiesCurrent	65990	USD
CY2021Q4	us-gaap	Liabilities Current LiabilitiesCurrent	91651	USD
CY2022Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	19385	USD
CY2021Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	25719	USD
CY2022Q1	us-gaap	Liabilities Liabilities	85375	USD
CY2021Q4	us-gaap	Liabilities Liabilities	117370	USD
CY2022Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	25000000	shares
CY2022Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2022Q1	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2021Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2022Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
CY2022Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2022Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	60042000	shares
CY2022Q1	us-gaap	Common Stock Value CommonStockValue	60042	USD
CY2021Q4	us-gaap	Common Stock Value CommonStockValue	60042	USD
CY2022Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	32293739	USD
CY2021Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	32293530	USD
CY2022Q1	us-gaap	Deferred Compensation Liability Current DeferredCompensationLiabilityCurrent	19845283	USD
CY2021Q4	us-gaap	Deferred Compensation Liability Current DeferredCompensationLiabilityCurrent	23773383	USD
CY2022Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-11865279	USD
CY2021Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-7936482	USD
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	643219	USD
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	643707	USD
CY2022Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	728594	USD
CY2021Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	761077	USD
CY2022Q1	us-gaap	Revenues Revenues	298500	USD
CY2021Q1	us-gaap	Revenues Revenues	99500	USD
CY2022Q1	us-gaap	Cost Of Revenue CostOfRevenue	222000	USD
CY2021Q1	us-gaap	Cost Of Revenue CostOfRevenue	70000	USD
CY2022Q1	us-gaap	Gross Profit GrossProfit	76500	USD
CY2021Q1	us-gaap	Gross Profit GrossProfit	29500	USD
CY2022Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	1485088	USD
CY2021Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	86491	USD
CY2022Q1	us-gaap	Research And Development In Process ResearchAndDevelopmentInProcess	2520000	USD
CY2021Q1	us-gaap	Research And Development In Process ResearchAndDevelopmentInProcess	0	USD
CY2022Q1	us-gaap	Operating Expenses OperatingExpenses	4005088	USD
CY2021Q1	us-gaap	Operating Expenses OperatingExpenses	86491	USD
CY2022Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-3928588	USD
CY2021Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-56991	USD
CY2022Q1	us-gaap	Interest Expense Related Party InterestExpenseRelatedParty	209	USD
CY2021Q1	us-gaap	Interest Expense Related Party InterestExpenseRelatedParty	2503	USD
CY2022Q1	us-gaap	Other Expenses OtherExpenses	209	USD
CY2021Q1	us-gaap	Other Expenses OtherExpenses	2503	USD
CY2022Q1	us-gaap	Income Loss From Subsidiaries Before Tax IncomeLossFromSubsidiariesBeforeTax	-3928797	USD
CY2021Q1	us-gaap	Income Loss From Subsidiaries Before Tax IncomeLossFromSubsidiariesBeforeTax	-59494	USD
CY2022Q1	us-gaap	Income Tax Credits And Adjustments IncomeTaxCreditsAndAdjustments	0	USD
CY2021Q1	us-gaap	Income Tax Credits And Adjustments IncomeTaxCreditsAndAdjustments	0	USD
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-3928797	USD
CY2021Q1	us-gaap	Net Income Loss NetIncomeLoss	-59494	USD
CY2022Q1	acro	Earnings Per Shares Basic And Diluted EarningsPerSharesBasicAndDiluted	-0.07
CY2021Q1	acro	Earnings Per Shares Basic And Diluted EarningsPerSharesBasicAndDiluted	-0.00
CY2022Q1	acro	Weighted Average Number Of Shares Outstanding Basic And Diluted WeightedAverageNumberOfSharesOutstandingBasicAndDiluted	60042000	shares
CY2021Q1	acro	Weighted Average Number Of Shares Outstanding Basic And Diluted WeightedAverageNumberOfSharesOutstandingBasicAndDiluted	47760000	shares
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	643707	USD
CY2022Q1	acro	Amortization Of Deferred Stock Compensation AmortizationOfDeferredStockCompensation	3928100	USD
CY2022Q1	acro	Imputed Interest On Related Party Loans ImputedInterestOnRelatedPartyLoans	209	USD
CY2020Q4	us-gaap	Stockholders Equity StockholdersEquity	685868	USD
CY2021Q1	acro	Imputed Interest On Related Party Loans ImputedInterestOnRelatedPartyLoans	2503	USD
CY2021Q1	us-gaap	Net Income Loss NetIncomeLoss	-59494	USD
CY2021Q1	us-gaap	Stockholders Equity StockholdersEquity	628877	USD
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-3928797	USD
CY2021Q1	us-gaap	Net Income Loss NetIncomeLoss	-59494	USD
CY2022Q1	us-gaap	Interest Expense Related Party InterestExpenseRelatedParty	209	USD
CY2021Q1	us-gaap	Interest Expense Related Party InterestExpenseRelatedParty	2503	USD
CY2022Q1	acro	Amortization Of Deferred Stock Compensation AmortizationOfDeferredStockCompensation	3928100	USD
CY2021Q1	acro	Amortization Of Deferred Stock Compensation AmortizationOfDeferredStockCompensation	0	USD
CY2022Q1	acro	Change Of Rou And Lease Liabilities ChangeOfRouAndLeaseLiabilities	0	USD
CY2021Q1	acro	Change Of Rou And Lease Liabilities ChangeOfRouAndLeaseLiabilities	-60	USD
CY2022Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	299500	USD
CY2021Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	0	USD
CY2022Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	0	USD
CY2021Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	70000	USD
CY2022Q1	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-10683	USD
CY2021Q1	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-10667	USD
CY2022Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-26197	USD
CY2021Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-10662	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	262132	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-8380	USD
CY2022Q1	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	288	USD
CY2021Q1	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	14616	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	288	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	14616	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	262420	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	6236	USD
CY2021Q4	us-gaap	Cash Cash	95248	USD
CY2020Q4	us-gaap	Cash Cash	18123	USD
CY2022Q1	us-gaap	Cash Cash	357668	USD
CY2021Q1	us-gaap	Cash Cash	24359	USD
CY2022Q1	us-gaap	Income Taxes Paid IncomeTaxesPaid	0	USD
CY2021Q1	us-gaap	Income Taxes Paid IncomeTaxesPaid	0	USD
CY2022Q1	us-gaap	Interest Paid Net InterestPaidNet	0	USD
CY2021Q1	us-gaap	Interest Paid Net InterestPaidNet	0	USD
CY2022Q1	us-gaap	Nature Of Operations NatureOfOperations	<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; 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; 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>
CY2022Q1	dei	Entity Incorporation Date Of Incorporation EntityIncorporationDateOfIncorporation	2014-09-24
CY2022Q1	us-gaap	Use Of Estimates UseOfEstimates	<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; 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>
CY2022Q1	us-gaap	Earnings Per Share Potentially Dilutive Securities EarningsPerSharePotentiallyDilutiveSecurities	no
CY2022Q1	us-gaap	Related Party Transaction Expenses From Transactions With Related Party RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty	288	USD
CY2021Q1	us-gaap	Related Party Transaction Expenses From Transactions With Related Party RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty	14616	USD
CY2022Q1	us-gaap	Due To Officers Or Stockholders Current And Noncurrent DueToOfficersOrStockholdersCurrentAndNoncurrent	19929	USD
CY2021Q4	us-gaap	Due To Officers Or Stockholders Current And Noncurrent DueToOfficersOrStockholdersCurrentAndNoncurrent	19641	USD
CY2022Q1	us-gaap	Related Party Transaction Rate RelatedPartyTransactionRate	0.05	pure
CY2022Q1	acro	Percentage Of Inputed Interest PercentageOfInputedInterest	0.04	pure
CY2022Q1	acro	Imputed Interest Related Parties ImputedInterestRelatedParties	209	USD
CY2021Q1	acro	Imputed Interest Related Parties ImputedInterestRelatedParties	2503	USD
CY2022Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	44346	USD
CY2021Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	50432	USD
CY2021Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	24713	USD
CY2022Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	19385	USD
CY2022Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	44346	USD
CY2021Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	50432	USD
CY2022Q1	us-gaap	Operating Leases Future Minimum Payments Remainder Of Fiscal Year OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear	19710	USD
CY2022Q1	us-gaap	Operating Leases Future Minimum Payments Due In Two Years OperatingLeasesFutureMinimumPaymentsDueInTwoYears	26280	USD
CY2022Q1	us-gaap	Operating Leases Future Minimum Payments Due Thereafter OperatingLeasesFutureMinimumPaymentsDueThereafter	0	USD
CY2022Q1	us-gaap	Operating Leases Future Minimum Payments Due OperatingLeasesFutureMinimumPaymentsDue	45990	USD
CY2022Q1	us-gaap	Operating Lease Expense OperatingLeaseExpense	6570	USD
CY2021Q1	us-gaap	Operating Lease Expense OperatingLeaseExpense	6285	USD
CY2022Q1	acro	Restricted Stock Grants Issued RestrictedStockGrantsIssued	370000	USD
CY2022Q1	us-gaap	Share Based Compensation ShareBasedCompensation	3928100	USD
CY2022Q1	acro	Deferred Stock Compensations DeferredStockCompensations	19845283	USD

Files In Submission

Name	View Source	Status
0001640334-22-001037-index-headers.html	Edgar Link	pending
0001640334-22-001037-index.html	Edgar Link	pending
0001640334-22-001037.txt	Edgar Link	pending
0001640334-22-001037-xbrl.zip	Edgar Link	pending
acro-20220331.xsd	Edgar Link	pending
acro-20220331_cal.xml	Edgar Link	unprocessable
acro-20220331_def.xml	Edgar Link	unprocessable
acro-20220331_lab.xml	Edgar Link	unprocessable
acro-20220331_pre.xml	Edgar Link	unprocessable
acro_10q.htm	Edgar Link	pending
acro_10q_htm.xml	Edgar Link	completed
acro_ex311.htm	Edgar Link	pending
acro_ex321.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
R17.htm	Edgar Link	pending
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
R21.htm	Edgar Link	pending
R22.htm	Edgar Link	pending
R23.htm	Edgar Link	pending
R24.htm	Edgar Link	pending
R25.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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ACRO BIOMEDICAL CO., LTD.

2022 Q2 Form 10-Q Financial Statement

#000164033422001037 Filed on May 16, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission