Advanced Biomed Inc(US:ADVB)2025-05-15 20:01Financial Performance - Total assets increased to $8,287,598 as of March 31, 2025, up from $4,460,247 as of June 30, 2024, representing an 86% growth[12]. - Cash at the end of the period rose to $5,184,100, compared to $2,663,704 at the end of the same period last year, marking a 95% increase[19]. - Net loss for the nine-month period ended March 31, 2025, was $2,557,358, compared to a loss of $1,972,892 for the same period in 2024, reflecting a 30% increase in losses[14]. - Total stockholders' equity increased to $4,129,783 as of March 31, 2025, from $1,663,258 as of June 30, 2024, representing a 148% increase[12]. - The Company reported a net loss of $2,557,358 and net cash outflows of $4,281,093 from operating activities for the nine-month period ended March 31, 2025[37]. - The net loss for the fiscal year ended June 30, 2024, was $2.78 million, a 25% improvement compared to a net loss of $3.73 million in 2023[125]. - The company expects to be in a state of continuous loss for the next two to three years as it has not commenced sales of any products[123]. Research and Development - Research and development expenses decreased to $675,546 for the nine-month period ended March 31, 2025, from $671,081 in the previous year, indicating a slight increase of 0.7%[14]. - The company has not commenced sales of revenue-generating products and does not expect to do so until clinical development and regulatory approvals are completed[66]. - The company developed the ALCGuard Lung Cancer Early Screening Kit, which is a Class III medical device requiring clinical trials before registration, with plans to start clinical research by June 2025[116]. - The company has completed the R&D stage for four immunostaining kits and submitted registration applications in China[115]. - The company reported a 36% decrease in research and development expenses from $1.4 million in 2023 to $0.9 million in 2024, primarily due to a slowdown in clinical development activities[130]. Financing Activities - The company completed its initial public offering on March 7, 2025, issuing 1,640,000 shares at $4.00 per share, raising approximately $6,699,767 in financing activities[21]. - The Company issued 1,640,000 shares of common stock at a price of $4.00 per share, resulting in gross proceeds of $6.56 million before deducting any underwriting discounts or expenses[38]. - The company is exploring additional financing options, including debt and equity, to support its operations and working capital needs[140]. - The company has received waivers from related parties for amounts due totaling $2,820,624 to improve working capital[38]. - The company is in the process of raising debt from related parties, although there is uncertainty regarding the availability of these financings[39]. Operational Efficiency - The Company transferred its inactive subsidiaries at zero consideration to improve operational efficiency, including Nanjing Yitian Biotech Co., Ltd. and Shandong Sglcell Medical Devices Co., Ltd.[24][25]. - Total operating expenses for the nine-month period ended March 31, 2025, were $1,808,495, a decrease from $1,836,959 in the same period of 2024, reflecting a 1.5% reduction[14]. - The Company has implemented cost-cutting measures that are projected to save $5 million annually[211]. - The company has launched a new product line that is expected to contribute an additional $20 million in revenue by the end of the fiscal year[211]. Market Expansion - Advanced Biomed Inc. plans to establish operation centers in North America and Europe to expand its market presence[113]. - The company plans to expand into the North American market, aiming to complete site selection and personnel recruitment by the end of 2025[122]. - Advanced Biomed Inc. plans to enter two new international markets by the end of 2025, aiming to increase its global footprint[211]. Assets and Liabilities - As of March 31, 2025, total prepaid expenses and other current assets increased to $2,547,048 from $443,137 as of June 30, 2024, representing a significant growth of approximately 474%[80]. - Accounts payable and other current liabilities increased to $3,974,986 as of March 31, 2025, compared to $2,670,249 as of June 30, 2024, reflecting an increase of approximately 49%[84]. - The Company reported total net operating loss carry forwards of approximately $10,978,631 as of March 31, 2025, compared to $8,767,393 as of June 30, 2024, indicating an increase of about 25%[92]. - The loan balance due to Well Fancy Development Ltd amounted to approximately US$1,586,860 as of June 30, 2024, which was waived off[99]. - As of March 31, 2025, the total amount due to related parties, including major stockholders, was US$356,759, compared to US$113,812 as of June 30, 2024, reflecting a significant increase[98]. Regulatory and Compliance - The Company’s ability to continue as a going concern depends on its ability to develop and obtain regulatory approval for its products[37]. - The company is in the registration application stage for several products, including ALCGuard, which is currently undergoing the necessary regulatory processes[117]. - The Company accounts for income taxes using the asset and liability approach, recognizing deferred tax assets based on the likelihood of realization of tax benefits in future years[71]. - The Company has not recognized any income tax expense for the three-month and nine-month periods ended March 31, 2025, and 2024, due to operating losses[96]. Strategic Initiatives - Advanced Biomed Inc. reported a significant increase in revenue, achieving $150 million for Q1 2025, representing a 25% year-over-year growth[211]. - The company has expanded its user base to 1.2 million active users, a 30% increase compared to the previous quarter[211]. - Advanced Biomed Inc. projects a revenue growth of 20% for the next quarter, targeting $180 million in Q2 2025[211]. - The company is investing $10 million in R&D for new product development, focusing on innovative biomedicine technologies[211]. - The company is focusing on enhancing customer engagement through digital platforms, aiming for a 15% increase in customer retention rates[211].