Acro Biomedical Co., Ltd. Reports Earnings Results for the Third Quarter Ended June 30, 2019
August 14, 2019 at 02:21 pm EDT
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Acro Biomedical Co., Ltd. announced earnings results for the third quarter ended June 30, 2019. For the third quarter, the company announced sales was USD 0 compared to USD 2.199 million a year ago. Net loss was USD 50,824 compared to net income of USD 116,309 a year ago. For the nine months, sales was USD 1.354 million compared to USD 5.608 million a year ago. Net loss was USD 295,590 compared to net income of USD 265,988 a year ago. Basic loss per share was USD 0.01 compared to basic earnings per share of USD 0.01 a year ago.
Acro Biomedical Co., Ltd. is principally engaged in the business is the sale of cordyceps related products. The Company is focused on developing and marketing nutritional products that promote wellness and a healthy lifestyle. The Company's business consists of selling cordyceps related products that is used in traditional Chinese medicine. Cordyceps is a fungus, which is a combination of a caterpillar and a fungus, which is found at altitudes above 4500 meters (m) in Sikkim. The Company is involved in the purchase of products from three suppliers in Taiwan and the sale of these products to four unrelated customers. It sells products in bulk to companies who may use the Company's products as ingredients in their products or sell the products they purchase from the Company to their own customers.
ACRO BIOMEDICAL CO., LTD. 
