Acro Biomedical Co., Ltd. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 17, 2020 at 03:41 pm EST
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Acro Biomedical Co., Ltd. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced operating loss was USD 71,541 compared to USD 64,460 a year ago. Net loss was USD 73,099 compared to USD 75,157 a year ago. For the nine months, sales was USD 687,964. Operating loss was USD 52,755 compared to USD 347,318 a year ago. Net loss was USD 55,682 compared to USD 295,731 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.