2023 Q4 Form 10-Q Financial Statement

#000121390023087270 Filed on November 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q4
Revenue $2.170K $15.88K $589.0K
YoY Change -99.63% -62.42% 65.54%
Cost Of Revenue $139.2K $29.61K $265.4K
YoY Change -47.55% 175.71% 5114.34%
Gross Profit -$137.0K -$13.73K $323.6K
YoY Change -142.35% -143.55% -7.74%
Gross Profit Margin -6315.21% -86.44% 54.94%
Selling, General & Admin $1.752M $1.182M $1.961M
YoY Change -10.63% -63.25% -82.26%
% of Gross Profit 605.97%
Research & Development $72.19K $141.3K $1.496M
YoY Change -95.17% -53.74% 49.01%
% of Gross Profit 462.26%
Depreciation & Amortization $7.580K $7.459K $6.440K
YoY Change 17.7% 15.43% 97.55%
% of Gross Profit 1.99%
Operating Expenses $1.825M $2.141M $3.457M
YoY Change -47.21% -42.86% -71.33%
Operating Profit -$1.962M -$2.155M -$3.133M
YoY Change -37.39% -42.01% -73.24%
Interest Expense -$1.209M $1.219M -$358.8K
YoY Change 237.09% 863.07% 1202.72%
% of Operating Profit
Other Income/Expense, Net $16.56K -$1.214M $63.86K
YoY Change -74.07% 2050.52% -87.78%
Pretax Income -$3.154M -$3.369M -$3.538M
YoY Change -10.84% -10.69% -68.44%
Income Tax $175.3K -$999.00 $962.9K
% Of Pretax Income
Net Earnings -$3.111M -$3.318M -$4.864M
YoY Change -36.04% -10.46% -62.12%
Net Earnings / Revenue -143360.83% -20885.9% -825.81%
Basic Earnings Per Share -$0.82
Diluted Earnings Per Share -$0.47 -$0.82 -$0.15
COMMON SHARES
Basic Shares Outstanding 7.232M shares 3.951M shares 32.63M shares
Diluted Shares Outstanding 4.055M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $139.5K $568.6K $161.1K
YoY Change -13.4% -59.42% -97.29%
Cash & Equivalents $60.16K $500.1K $85.27K
Short-Term Investments $79.31K $68.52K $75.80K
Other Short-Term Assets $757.7K $764.0K $1.457M
YoY Change -47.99% -18.18% -25.29%
Inventory
Prepaid Expenses
Receivables $1.530K $1.530K $98.33K
Other Receivables $747.6K $535.0K $513.8K
Total Short-Term Assets $1.657M $2.494M $2.987M
YoY Change -44.54% -14.11% -68.96%
LONG-TERM ASSETS
Property, Plant & Equipment $7.969M $7.954M $574.0K
YoY Change 1288.43% 1303.43% 9.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.528M $2.677M $842.1K
YoY Change 200.18% 228.05% -9.72%
Other Assets $1.416M $1.636M $4.291M
YoY Change -67.0% -66.95% 275.62%
Total Long-Term Assets $12.84M $14.10M $6.868M
YoY Change 86.89% 86.05% 68.63%
TOTAL ASSETS
Total Short-Term Assets $1.657M $2.494M $2.987M
Total Long-Term Assets $12.84M $14.10M $6.868M
Total Assets $14.49M $16.59M $9.855M
YoY Change 47.05% 58.31% -28.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $3.696M $3.558M $2.910M
YoY Change 27.04% 196.15% 123.68%
Deferred Revenue $79.50K $79.50K $10.99K
YoY Change 623.71%
Short-Term Debt $899.3K $852.5K $1.894M
YoY Change -52.51% -54.32% 15.47%
Long-Term Debt Due $569.5K
YoY Change
Total Short-Term Liabilities $5.932M $5.363M $5.820M
YoY Change 1.94% 37.72% 57.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.654M $0.00
YoY Change
Other Long-Term Liabilities $429.1K $512.8K $799.8K
YoY Change -46.34% -42.58% -29.56%
Total Long-Term Liabilities $429.1K $2.167M $799.8K
YoY Change -46.34% 142.63% -29.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.932M $5.363M $5.820M
Total Long-Term Liabilities $429.1K $2.167M $799.8K
Total Liabilities $6.362M $7.530M $6.619M
YoY Change -3.89% 57.29% 37.11%
SHAREHOLDERS EQUITY
Retained Earnings -$65.42M -$62.31M -$54.90M
YoY Change 19.15% 24.52% 42.68%
Common Stock $7.940K $4.823K $32.86K
YoY Change -75.83% -85.22% 13.59%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.902M $9.100M $9.100M
YoY Change -2.18% 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $8.388M $9.100M $3.099M
YoY Change
Total Liabilities & Shareholders Equity $14.49M $16.59M $9.855M
YoY Change 47.05% 58.31% -28.05%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q4
OPERATING ACTIVITIES
Net Income -$3.111M -$3.318M -$4.864M
YoY Change -36.04% -10.46% -62.12%
Depreciation, Depletion And Amortization $7.580K $7.459K $6.440K
YoY Change 17.7% 15.43% 97.55%
Cash From Operating Activities -$479.5K -$1.356M -$461.1K
YoY Change 3.99% 164.04% -77.58%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $21.20K $90.00
YoY Change -100.0% -587.36%
Acquisitions
YoY Change
Other Investing Activities $154.2K -$53.16K -$83.20K
YoY Change -285.3% -96.5% 100.05%
Cash From Investing Activities $154.2K -$74.36K -$83.28K
YoY Change -285.12% -95.12% 100.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 87.42K 1.652M -253.5K
YoY Change -134.49% 173.66% -105.96%
NET CHANGE
Cash From Operating Activities -479.5K -1.356M -461.1K
Cash From Investing Activities 154.2K -74.36K -83.28K
Cash From Financing Activities 87.42K 1.652M -253.5K
Net Change In Cash -237.9K 220.8K -797.9K
YoY Change -70.19% -115.4% -137.02%
FREE CASH FLOW
Cash From Operating Activities -$479.5K -$1.356M -$461.1K
Capital Expenditures $0.00 $21.20K $90.00
Free Cash Flow -$479.5K -$1.378M -$461.2K
YoY Change 3.97% 170.46% -77.57%

Facts In Submission

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us-gaap Increase Decrease In Due From Related Parties
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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us-gaap Increase Decrease In Due To Related Parties
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us-gaap Profit Loss
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us-gaap Prior Period Reclassification Adjustment Description
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Reclassifications of Prior Year Presentation</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Certain prior year unaudited consolidated balance sheet and unaudited consolidated cash flow statement amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.</span></p>
us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Use of Estimates</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">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 unaudited consolidated financial statements and the amount of revenues and expenses during the reporting periods. Actual results could differ materially from those results.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p>
us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
forward split at a ratio of 1 to 3.141 and increase the number of our authorized shares of Common Stock
CY2016Q1 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.001
CY2016Q1 us-gaap Excess Stock Shares Authorized
ExcessStockSharesAuthorized
360000000 shares
us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
On July 25, 2023, the Company filed a Certificate of Amendment to its Articles of Incorporation authorizing a 1-for-10 reverse stock split of the issued and outstanding shares of its common stock.
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CashAndCashEquivalentsAtCarryingValue
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CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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us-gaap Concentration Risk Credit Risk
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Concentration of Credit Risk</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash and temporary cash investments in high quality credit institutions, but these investments may be in excess of Taiwan Central Deposit Insurance Corporation and the U.S. Federal Deposit Insurance Corporation’s insurance limits. The Company does not enter into financial instruments for hedging, trading or speculative purposes.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Company performs ongoing credit evaluation of our customers and requires no collateral. An allowance for doubtful accounts is provided based on a review of the collectability of accounts receivable. The Company determines the amount of allowance for doubtful accounts by examining its historical collection experience and current trends in the credit quality of its customers as well as its internal credit policies. Actual credit losses may differ from our estimates.</span></p>
us-gaap Health Care Organization Allowance For Doubtful Accounts Percentage Of Accounts Receivable
HealthCareOrganizationAllowanceForDoubtfulAccountsPercentageOfAccountsReceivable
0.9976 pure
CY2022 us-gaap Health Care Organization Allowance For Doubtful Accounts Percentage Of Accounts Receivable
HealthCareOrganizationAllowanceForDoubtfulAccountsPercentageOfAccountsReceivable
0.7189 pure
abvc Total Revenues Percentage
TotalRevenuesPercentage
0.8119 pure
abvc Total Revenues Percentage
TotalRevenuesPercentage
0.7918 pure
abvc Schedule Of Ownership Percentages Of Investee Table Text Blocks
ScheduleOfOwnershipPercentagesOfInvesteeTableTextBlocks
<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The ownership percentages of each investee are listed as follows:</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Ownership percentage</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="white-space: nowrap; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="white-space: nowrap; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30,</span></td><td style="white-space: nowrap; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="white-space: nowrap; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31,</span></td><td style="white-space: nowrap; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="white-space: nowrap; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Accounting</span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold; text-align: left; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Name of related party</span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">treatments</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Braingenesis Biotechnology Co., Ltd.</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.22</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.22</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 11%; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Cost Method</span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Genepharm Biotech Corporation</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.92</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.92</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">Cost Method</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">BioHopeKing Corporation</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">8.03</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">8.03</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">Cost Method</span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">BioFirst Corporation</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">23.53</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">21.77</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">Equity Method</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Rgene Corporation</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">28.85</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">28.85</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">Equity Method</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p>
us-gaap Income Taxes Paid
IncomeTaxesPaid
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ImpairmentOfEquityInvestments
0 usd
abvc Impairment Of Equity Investments
ImpairmentOfEquityInvestments
0 usd
abvc Share Of Equity Method Investee Losses
ShareOfEquityMethodInvesteeLosses
usd
abvc Labour Pension Fund Percentage
LabourPensionFundPercentage
0.06 pure
abvc Percentage Of Monthly Contributions
PercentageOfMonthlyContributions
0.06 pure
CY2023Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
2566 usd
CY2022Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
3302 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
7825 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
9948 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
0 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
0 usd
CY2023Q3 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
0 usd
CY2022Q3 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
0 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
817740 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
225740 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1409969 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5143483 usd
abvc Beneficial Conversion Feature
BeneficialConversionFeature
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Beneficial Conversion Feature</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">From time to time, the Company may issue convertible notes that may contain an imbedded beneficial conversion feature. A beneficial conversion feature exists on the date a convertible note is issued when the fair value of the underlying common stock to which the note is convertible into is in excess of the remaining unallocated proceeds of the note after first considering the allocation of a portion of the note proceeds to the fair value of the warrants, if related warrants have been granted. The intrinsic value of the beneficial conversion feature is recorded as a debt discount with a corresponding amount to additional paid in capital. The debt discount is amortized to interest expense over the life of the note using the effective interest method.</span></p>
abvc Defined Benefit Plan Funded Percentages
DefinedBenefitPlanFundedPercentages
0.50 pure
CY2023Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
852500 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
1893750 usd
CY2023Q3 abvc Principal Amount
principalAmount
7500000 twd
CY2023Q3 abvc Principal Amount
principalAmount
232500 usd
abvc Debt Instrument I Effectiventerest Rate Percentage
DebtInstrumentIEffectiventerestRatePercentage
0.0285 pure
CY2019Q1 us-gaap Debt Instrument Repurchased Face Amount
DebtInstrumentRepurchasedFaceAmount
1000000 usd
abvc Milestone Payments Royalty Percentage
MilestonePaymentsRoyaltyPercentage
0.12 pure
abvc Collaborative Agreements Description
CollaborativeAgreementsDescription
In addition to the total of NT$50 million, approximately equivalent to $1.64 million, BioLite Taiwan is entitled to receive 50% of the future net licensing income or net sales profit.
abvc Co Dev Agreement Description
CoDevAgreementDescription
the Company received the remaining balance of $2,550,000 in the form of newly issued shares of Rgene’s Common Stock, at the price of NT$50 (approximately equivalent to $1.64 per share), for an aggregate number of 1,530,000 shares, which accounted for equity method long-term investment as of December 31, 2018. During the year ended December 31, 2018, the Company has recognized investment loss of $549.
CY2022Q2 abvc Eligible To Receive Payments
EligibleToReceivePayments
3000000 usd
CY2022Q2 abvc Milestone Regulatory Payment Amount Period
MilestoneRegulatoryPaymentAmountPeriod
P3Y
CY2023Q3 us-gaap Loans Payable
LoansPayable
1000000 usd
abvc Working Capital Convertible Loan Percentage
WorkingCapitalConvertibleLoanPercentage
0.05 pure
us-gaap Conversion Of Stock Description
ConversionOfStockDescription
The Company may convert the Note at any time into shares of Rgene’s common stock at either (i) a fixed conversion price equal to $1.00 per share or (ii) 20% discount of the stock price of the then most recent offering, whichever is lower; the conversion price is subject to adjustment as set forth in the Note.
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11264530 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3878435 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3310594 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3304457 usd
CY2023Q3 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
7953936 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
573978 usd
CY2023Q3 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
37000000 usd
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
7400000 usd
CY2023Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
370000 shares
CY2023Q3 us-gaap Share Price
SharePrice
20
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7459 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6462 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
20949 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
17364 usd
CY2023Q3 abvc Nonmarketable Cost Method Investments Net
NonmarketableCostMethodInvestmentsNet
803205 usd
CY2022Q4 abvc Nonmarketable Cost Method Investments Net
NonmarketableCostMethodInvestmentsNet
842070 usd
CY2023Q3 us-gaap Equity Method Investments
EquityMethodInvestments
2677395 usd
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
842070 usd
CY2022Q4 us-gaap Temporary Equity Aggregate Amount Of Redemption Requirement
TemporaryEquityAggregateAmountOfRedemptionRequirement
618150 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.2885 pure
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.2885 pure
CY2023Q1 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
3175000 usd
CY2023Q1 us-gaap Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
1.05
CY2023Q1 us-gaap Shares Issued
SharesIssued
5291667 shares
CY2023Q1 us-gaap Deferred Compensation Arrangement With Individual Exercise Price
DeferredCompensationArrangementWithIndividualExercisePrice
1.05
abvc Percentage Of Average Amount
PercentageOfAverageAmount
0.90 pure
abvc Percentage Of Cash Permium
PercentageOfCashPermium
0.05 pure
CY2023Q3 abvc Percentage Of Outstanding Principal Amount
PercentageOfOutstandingPrincipalAmount
1.15 pure
CY2023Q3 us-gaap General Partners Capital Account
GeneralPartnersCapitalAccount
12500000 usd
CY2023Q3 us-gaap Warrant Exercise Price Increase
WarrantExercisePriceIncrease
3.5
CY2019Q1 us-gaap Debt Instrument Interest Rate Increase Decrease
DebtInstrumentInterestRateIncreaseDecrease
0.05 pure
CY2020Q2 abvc Received Loan Amount
ReceivedLoanAmount
350000 usd
CY2020Q4 abvc Received Loan Amount
ReceivedLoanAmount
350000 usd
CY2021Q4 abvc Principal Amount
principalAmount
650000 usd
CY2022 abvc Outstanding Balance
OutstandingBalance
1000000 usd
CY2023Q3 us-gaap Other Receivables
OtherReceivables
624373 usd
CY2022Q4 us-gaap Other Receivables
OtherReceivables
757343 usd
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
1900 usd
CY2022 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
307788 usd
CY2023Q3 abvc Due From Other Related Parties Noncurrent Amount
DueFromOtherRelatedPartiesNoncurrentAmount
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CY2022Q4 abvc Due From Other Related Parties Noncurrent Amount
DueFromOtherRelatedPartiesNoncurrentAmount
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CY2022Q2 us-gaap Accounts Payable Interest Bearing Interest Rate
AccountsPayableInterestBearingInterestRate
0.05 pure
CY2022Q2 abvc Working Capital Percentage
WorkingCapitalPercentage
0.064 pure
us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
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abvc Share Of Equity Method Investee Losses
ShareOfEquityMethodInvesteeLosses
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abvc Description Of Conversion Price
DescriptionOfConversionPrice
The Company may convert the Note at any time into shares of Rgene’s common stock at either (i) a fixed conversion price equal to $1.00 per share or (ii) 20% discount of the stock price of the then most recent offering, whichever is lower; the conversion price is subject to adjustment as set forth in the Note. The Note includes standard events of default, as well as a cross default provision pursuant to which a breach of the Service Agreement will trigger an event of default under the convertible note if not cured after 5 business days of written notice regarding the breach is provided.
us-gaap Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
500000 usd
us-gaap Accounts Receivable Noncurrent Accrued Interest Writeoff
AccountsReceivableNoncurrentAccruedInterestWriteoff
32518 usd
CY2022 us-gaap Accounts Receivable Noncurrent Accrued Interest Writeoff
AccountsReceivableNoncurrentAccruedInterestWriteoff
13819 usd
CY2022Q4 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
507000 usd
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DerivativeFixedInterestRate
0.065 pure
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
107615 usd
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RelatedPartyTransactionPurchasesFromRelatedParty
112822 usd
abvc Schedule Of Related Party Transactions Amount Due To Related Party
ScheduleOfRelatedPartyTransactionsAmountDueToRelatedParty
<span style="font-family: Times New Roman, Times, Serif">Amount due to related parties consisted of the following as of the periods indicated:</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">September 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">BioFirst Corporation</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">315,947</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">188,753</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">The Jiangs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,789</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,789</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Due to shareholders</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">144,460</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">151,450</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; padding-left: 9pt">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">480,196</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">359,992</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>
CY2023Q3 abvc Due To Related Party Current And Noncurrent
DueToRelatedPartyCurrentAndNoncurrent
480196 usd
CY2022Q4 abvc Due To Related Party Current And Noncurrent
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359992 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
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CY2022 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
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CY2023Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
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CY2022Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
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us-gaap Interest Expense Debt
InterestExpenseDebt
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us-gaap Interest Expense Debt
InterestExpenseDebt
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CY2023Q3 abvc Outstanding Principal And Accrued Interests
OutstandingPrincipalAndAccruedInterests
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CY2022Q4 abvc Outstanding Principal And Accrued Interests
OutstandingPrincipalAndAccruedInterests
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CY2023Q3 us-gaap Interest And Debt Expense
InterestAndDebtExpense
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CY2022Q3 us-gaap Interest And Debt Expense
InterestAndDebtExpense
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us-gaap Interest And Debt Expense
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us-gaap Interest And Debt Expense
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us-gaap Deferred State And Local Income Tax Expense Benefit
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us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1600 usd
us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
80696 usd
us-gaap Deferred Foreign Income Tax Expense Benefit
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-166696 usd
us-gaap Deferred Income Taxes And Tax Credits
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80696 usd
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-166696 usd
us-gaap Other Tax Expense Benefit
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80696 usd
us-gaap Asset Impairment Charges
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679428 usd
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CY2022Q1 us-gaap Deferred Offering Costs
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4296763 usd
CY2022Q1 abvc Unrestricted Common Shares
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1306007 shares
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
3.29
CY2022Q2 us-gaap Conversion Of Stock Shares Issued1
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2000000 shares
CY2022Q2 abvc Gross Proceeds
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4220000 usd
CY2022Q2 us-gaap Legal Fees
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556075 usd
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2.45 shares
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CY2023Q1 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
3704167 usd
CY2023Q3 us-gaap Investment Sold Not Yet Purchased Balance Shares
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614912 shares
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1814800 usd
CY2023Q3 us-gaap Warrant Exercise Price Increase
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3.5
CY2023Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
300000 shares
CY2023Q3 abvc Purchase Price Per Share
PurchasePricePerShare
3.5
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
545182 shares
CY2020Q4 abvc Conversion Price
ConversionPrice
2
CY2020Q4 abvc Consulting Fees
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1090361 usd
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
545182 shares
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P10Y
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2021Q4 us-gaap Stock Option Exercise Price Increase
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3
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022Q2 us-gaap Stock Option Exercise Price Increase
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3
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
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P10Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0279 pure
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8386 pure
CY2022 abvc Fair Value Of Options Granted
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2.79 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
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us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
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us-gaap Proceeds From Notes Payable
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us-gaap Proceeds From Short Term Debt
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us-gaap Repayments Of Short Term Debt
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CY2023Q3 us-gaap Operating Lease Expense
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us-gaap Operating Lease Expense
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288751 usd
us-gaap Operating Lease Expense
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us-gaap Operating Lease Lease Income Lease Payments
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CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.0153 pure
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0.0149 pure
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q3 us-gaap Operating Lease Right Of Use Asset
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CY2022Q4 us-gaap Convertible Long Term Notes Payable
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling After Year Five
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dei Amendment Flag
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false
dei Current Fiscal Year End Date
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dei Entity Central Index Key
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Files In Submission

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0001213900-23-087270-index.html Edgar Link pending
0001213900-23-087270.txt Edgar Link pending
0001213900-23-087270-xbrl.zip Edgar Link pending
abvc-20230930.xsd Edgar Link pending
f10q0923ex10-40_abvcbio.htm Edgar Link pending
f10q0923ex10-41_abvcbio.htm Edgar Link pending
f10q0923ex31-1_abvcbio.htm Edgar Link pending
abvc-20230930_cal.xml Edgar Link unprocessable
abvc-20230930_def.xml Edgar Link unprocessable
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