Advanced Biomed Inc(US:ADVB)2025-11-19 21:01Financial Performance - Net loss for the three-month period ended September 30, 2025, was US$386,901, compared to a net loss of US$265,580 for the same period in 2024, representing a 45.66% increase in loss year-over-year[18]. - The Company reported a net loss of $386,901 for the three-month period ended September 30, 2025, with net cash outflows from operating activities amounting to $610,342[47]. - The net loss for the fiscal year ended June 30, 2025, was $3,258,969, representing a 17% increase from the net loss of $2,782,278 in 2024[146]. - For the three-month period ended September 30, 2025, the net loss was $386,901, compared to a net loss of $265,580 for the same period in 2024, representing a 45.6% increase in losses year-over-year[118]. - The net loss for the year ended June 30, 2025, was $3.3 million, compared to a loss of $2.8 million for the year ended June 30, 2024[156]. Revenue and Expenses - Total operating expenses for the three-month period ended September 30, 2025, were US$523,914, slightly higher than US$520,027 for the same period in 2024, indicating a marginal increase of 0.56%[18]. - For the fiscal year ended June 30, 2025, total operating expenses increased by 19% to $3,021,036 compared to $2,541,572 in 2024[146]. - General and administrative expenses decreased to $287,922 in the three-month period ended September 30, 2025, from $338,324 in 2024, indicating a reduction of 14.8%[118]. - Research and development expenses increased to US$235,992 for the three-month period ended September 30, 2025, compared to US$181,703 for the same period in 2024, marking an increase of 29.87%[18]. - Research and development expenses for the fiscal year ended June 30, 2025, were $909,771, a 3% increase from $880,193 in 2024[149]. Assets and Liabilities - Total assets decreased from US$6,512,343 as of June 30, 2025, to US$6,242,970 as of September 30, 2025, a decline of approximately 4.14%[13]. - Total stockholders' equity decreased from US$3,477,564 as of June 30, 2025, to US$3,004,124 as of September 30, 2025, a decline of approximately 13.63%[13]. - Cash at the end of the period decreased to US$2,656,519 from US$2,903,915 at the beginning of the period, reflecting a net decrease of 8.51%[22]. - Total accounts payable, accruals, and other current liabilities increased to $3,017,018 as of September 30, 2025, from $2,853,317 as of June 30, 2025, marking an increase of approximately 5.7%[95]. - As of September 30, 2025, the company's working capital surplus was $2,799,181, down from $3,143,443 as of June 30, 2025[167]. Financing Activities - The company raised approximately US$5.49 million in net proceeds from its initial public offering, which closed on March 7, 2025[24]. - The Company completed its initial public offering on March 7, 2025, issuing 1,640,000 shares at a price of $4.00 per share, resulting in gross proceeds of $6.56 million[103]. - The Company has the right to issue and sell up to $25 million of its common stock under the ELOC Agreement with HELENA GLOBAL INVESTMENT OPPORTUNITIES I LTD.[45]. - The Company issued a total of 4,405,625 shares to various stockholders to settle debts amounting to approximately $9.04 million[36]. - For the three-month period ended September 30, 2025, the company recorded net cash generated from financing activities of approximately $0.45 million, mainly from loans and repayments to related parties[179]. Shareholder Information - The Company executed a forward share split on May 16, 2023, resulting in 100,000,000 common shares outstanding[53]. - The Company executed a reverse share split on October 15, 2024, reducing the outstanding shares to 20,000,000[54]. - The Company has a total of 15 million shares subject to the 2023 Stock Incentive Plan, which allows for the granting of stock options to employees and service providers[114]. - As of October 25, 2022, Dr. Yi Lu holds a 33.54% ownership stake in the Company following the reorganization[37]. - The amount due from related party Advance On Ventures Limited was $211 as of September 30, 2025, while the amount due to major stockholders totaled $50,013[115]. Future Plans and Expectations - The Company plans to start clinical research in January 2026, expecting to complete it by June 2026 and obtain the required registration certificate by October 2027[73]. - The company aims to expand into the North American market by January 2026, with site selection and personnel recruitment planned for completion by that date[143]. - The company expects to be in a state of continuous loss for the next two to three years due to ongoing development and regulatory processes[144]. - The company has not generated any revenue from product sales and does not expect to do so until clinical development and regulatory approvals are completed[144]. - The company plans to begin clinical research for the ALCGuard Lung Cancer Early Screening Kit in January 2026, with completion anticipated by June 2026[150]. Accounting and Compliance - The Company’s financial statements are prepared in accordance with U.S. GAAP, assuming continuation as a going concern[43]. - 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[79]. - The Company has assessed that there are no material subsequent events requiring disclosure from September 30, 2025, through November 19, 2025[131]. - The Company has adopted ASC 842 for operating leases, recognizing right-of-use assets and liabilities based on the present value of lease payments[197]. - Recent accounting pronouncements, specifically ASU 2023-06, are not expected to materially impact the Company's consolidated financial statements[212].