Advanced Biomedical Technologies Inc.

CIK:0001385799|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Income Statement [Abstract]
SALES	$ 180	$ 961	$ 47,508	$ 61,251
Cost of sales	(38)	(820)	(10,217)	(33,831)
Gross margin	142	141	37,291	27,420
OPERATING EXPENSES
General and administrative expenses	54,433	54,772	137,255	166,833
Research and development	54,633	42,773	178,086	140,858
Depreciation on property and equipment	3,175	3,938	10,885	13,014
Depreciation on operating lease right-of-use assets	3,404	10,699	23,836	32,268
Stock-based compensation expenses	(3,731)	4,400	793	10,867
Total Operating Expenses	111,914	116,582	350,855	363,840
LOSS FROM OPERATIONS	(111,772)	(116,441)	(313,564)	(336,420)
OTHER (EXPENSES) INCOME
Government grants		(329)		125,237
Interest income	5	8	94	18
Interest paid to a stockholder and related parties	(76,885)	(79,615)	(225,581)	(239,946)
Interest on car loan	(592)		(906)
Interest on operating lease liabilities	(232)	(903)	(1,132)	(3,300)
Imputed interest	(4,049)	(3,409)	(11,428)	(10,205)
Other, net	(5,188)	(4,536)	(7,329)	(14,050)
Total Other Expenses, net	(86,941)	(88,784)	(246,282)	(142,246)
LOSS BEFORE TAXES	(198,713)	(205,225)	(559,846)	(478,666)
Income tax expense
NET LOSS	(198,713)	(205,225)	(559,846)	(478,666)
Net loss attributable to non-controlling interests
NET LOSS ATTRIBUTABLE TO ABMT COMMON STOCKHOLDERS	(198,713)	(205,225)	(559,846)	(478,666)
OTHER COMPREHENSIVE LOSS
Foreign currency translation loss	(14,788)	(75,542)	(232,900)	(54,248)
Total other comprehensive loss	(14,788)	(75,542)	(232,900)	(54,248)
COMPREHENSIVE LOSS ATTRIBUTABLE TO ABMT COMMON STOCKHOLDERS	$ (213,501)	$ (280,767)	$ (792,746)	$ (532,914)
Net loss per share-basic and diluted - basic and diluted	$ (0.00)	$ (0.00)	$ (0.01)	$ (0.01)
Weighted average number of shares outstanding during the period - in issue	70,224,850	69,974,850	70,224,850	69,929,959
Weighted average number of shares outstanding during the period - vested, but not yet issued	80,000		44,835
Weighted average number of shares outstanding during the period - basic	70,304,850	69,974,850	70,269,685	69,929,959
Weighted average number of shares outstanding during the period - diluted	70,464,850	70,214,850	70,464,850	70,062,222

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss attributable to ABMT common stockholders	$ (559,846)	$ (478,666)
Adjustments to reconcile net loss to cash used in operating activities
Depreciation on property & equipment	10,885
Depreciation on operating lease right-of-use assets	23,836	13,014
Imputed interest	11,428	32,268
Interest on operating lease liabilities	1,132	10,205
Interest on car loans	906	3,300
Stock-based compensation expenses	793	10,867
Loss on disposal of property and equipment	24
Net exchange difference	2	(3)
Changes in operating assets and liabilities (Increase)/Decrease in:
Inventory	(84,772)	(15,557)
Other receivables and prepaid expenses	(18,421)	15,329
Depreciation allocated to inventory	6,018	6,901
Increase/(Decrease) in:
Trade payables and contract liabilities	(230,449)	305,359
Other payables and accrued expenses	95,426	(8,529)
Net cash used in operating activities	(743,038)	(105,512)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(51,449)	(29,692)
Net cash used in investing activities	(51,449)	(29,692)
CASH FLOWS FROM FINANCING ACTIVITIES
Due to a stockholder	35,774	41,753
Due to directors	29,576	16,226
Due to related parties	555,811	121,864
Principal element of operating lease payments	(25,363)	(32,568)
Interest element of operating lease payments	(1,132)	(3,300)
Interest on car loan	(906)
Net cash provided by financing activities	593,760	143,975
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	6,046	111
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(194,681)	8,882
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF PERIOD	201,664	5,592
CASH AND CASH EQUIVALENTS AT THE END OF PERIOD	6,983	14,474
Supplemental of cash flow information
Interest income	94	18
Other non cash items
Interest expenses	$ 226,713	$ 243,246

Condensed Consolidated Balance Sheets - USD ($)	Jul. 31, 2021	Oct. 31, 2020
CURRENT ASSETS
Cash and cash equivalents	$ 6,983	$ 201,664
Other receivables and prepaid expenses	46,808	29,260
Inventory	188,780	100,026
Total current assets	242,571	330,950
NON-CURRENT ASSETS
Property and equipment, cost	623,144	552,423
Less: Accumulated depreciation	(479,232)	(446,949)
Property and equipment, net	143,912	105,474
Operating lease right-of-use assets	10,025	32,802
Total non-current assets	153,937	138,276
TOTAL ASSETS	396,508	469,226
CURRENT LIABILITIES
Trade payables and contract liabilities	1,160,001	1,343,515
Other payables and accrued expenses	710,948	598,801
Operating lease liabilities, current portion	10,826	28,028
Due to directors	347,889	308,031
Due to a stockholder	915,627	880,108
Advances from related parties	5,433,540	4,705,512
Total current liabilities	8,578,831	7,863,995
NON-CURRENT LIABILITIES
Operating lease liabilities, less current portion		7,029
STOCKHOLDERS’ DEFICIT
Common stock, $0.00001 par value, 100,000,000 shares authorized, 70,224,850 issued and outstanding as of July 31, 2021 and October 31, 2020	702	702
Additional paid-in capital	2,835,707	2,824,279
Stock-based compensation reserves	8,953	8,160
Accumulated deficit	(10,816,210)	(10,256,364)
Accumulated other comprehensive income/(loss)	(211,475)	21,425
Total stockholders’ deficit	(8,182,323)	(7,401,798)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 396,508	$ 469,226