Acro Biomedical Reports Zero Revenue for Q3 2024 Amid Ongoing Operational Challenges

Company Overview: Acro Biomedical Co., Ltd. (PINK: ACBM) is a Nevada-based company engaged in developing and marketing nutritional products related to cordyceps, a fungus used in traditional Chinese medicine. The company has struggled significantly, with no revenue generated from product sales since late 2022, attributing its challenges to various operational and market factors, including COVID-19's impact on supply chains and customer financial stability.

Recent Financial Performance:

• Q3 2024 Income Statement Highlights:
  • Revenues: $0
  • Operating Expenses: $9,106 (down from $1,588,700 in Q3 2023)
  • Net Loss: $(10,229) or $(0.00) per share (compared to $(1,589,490) or $(0.03) per share in Q3 2023)
• 2024 Nine-Month Summary:
  • Revenues: $0
  • Operating Expenses: $28,490 (down from $8,786,966 in the same period in 2023)
  • Net Loss: $(31,624) or $(0.00) per share (compared to $(8,789,333) or $(0.15) per share by September 2023)

Balance Sheet Overview:

• Assets (as of September 30, 2024): $38,676, down from $58,459 on December 31, 2023
• Total Liabilities: $324,180, slightly increased from $315,473 as of December 31, 2023
• Stockholders' Deficit: $(285,504) compared to $(257,014) in the previous period

Key Insights:

• No revenue was generated in Q3 2024 or the past nine months, indicating ongoing operational challenges.
• Operational expenses have significantly decreased, mainly due to the expiration of prior consulting agreements and reduced research and development efforts.
• Cash position remains weak, with only $701 on hand as of the end of Q3 2024, down from $3,271 the previous year.
• Reliance on funding from a minority stockholder is crucial, as the firm currently lacks operational revenue.

Positive Aspects:

• Significant reduction in operating expenses during Q3 2024 compared to previous years.
• No cash paid for taxes or significant ongoing interest expenses, reflecting management's tight controls over costs.

Negative Aspects:

• Affirmative growing operational loss and reliance on advances from a minority stockholder raise concerns about sustainability.
• The inability to produce revenue since 2022 further diminishes investor confidence and reflects ongoing strategic failures.
• Company's stock is listed on the OTC Market Group's Expert Market, limiting its tradability and visibility.

Overall, Acro Biomedical faces significant challenges, particularly its lack of revenue generation and heavy reliance on funding from a minority stockholder. Significant changes in strategy will be needed to regain operational viability and investor confidence.