Disclosure Statement Pursuant to the Pink Basic Disclosure
Guidelines
Advanced Biomedical Technologies Inc.
200 Park Avenue, Suite 1700
New York City, NY 10166
_______________________________
(718) 766-7898
www.abtbiomedical.com
info@abtbiomedical.com
3842
AnnualReport
For the Period Ending: October 31, 2021
(the "Reporting Period")
As of October 31, 2021, the number of shares outstanding of our Common Stock was:
70,604,850
As of July 31, 2021, the number of shares outstanding of our Common Stock was:
70,224,850
As of October 31, 2020, the number of shares outstanding of our Common Stock was:
70,224,850
Indicate by check mark whether the company is a shell company (as defined in Rule 405 of the Securities Act of 1933 and Rule 12b-2 of the Exchange Act of 1934):
Yes: ☐ | No: ☒ |
Indicate by check mark whether the company's shell status has changed since the previous reporting period:
Yes: ☐ | No: ☒ |
Indicate by check mark whether a Change in Control1 of the company has occurred over this reporting period:
Yes: ☐ | No: ☒ |
- Name and address(es) of the issuer and its predecessors (if any)
Advanced Biomedical Technologies, INC. (fka "Geostar Mineral Corporation") ("ABMT", the "Company", "we", "our," or "us") was incorporated in Nevada on September 12, 2006.
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The state of incorporation or registration of the issuer and of each of its predecessors (if any) during the past five years; Please also include the issuer's current standing in its state of incorporation (e.g. active, default, inactive):
Active
Describe any trading suspension orders issued by the SEC concerning the issuer or its predecessors since inception:
None
List any stock split, stock dividend, recapitalization, merger, acquisition, spin-off, or reorganization either currently anticipated or that occurred within the past 12 months:
None
The address(es) of the issuer's principal executive office:
200 Park Avenue, Suite 1700, New York City, NY 10166
The address(es) of the issuer's principal place of business:
Check box if principal executive office and principal place of business are the same address: ☒
Has the issuer or any of its predecessors been in bankruptcy, receivership, or any similar proceeding in the past five years?
Yes: ☐ | No: ☒ |
If this issuer or any of its predecessors have been the subject of such proceedings, please provide additional details in the space below:
- Security Information
Trading symbol: | ABMT | ||||
Exact title and class of securities outstanding: | Common Stock | ||||
CUSIP: | 37364M103 | ||||
Par or stated value: | 0.00001 | ||||
Total shares authorized: | 100,000,000 | as of date: October 31, 2021 | |||
Total shares outstanding: | 70,604,850 | as of date: October 31, 2021 | |||
Number of shares in the Public Float2: | 9,375,209 | as of date: October 31, 2021 | |||
Total number of shareholders of record: | 57 | as of date: October 31, 2021 | |||
Transfer Agent | |||||
Name: | Securities Transfer Corporation | ||||
Phone: | (469) 633-0101 | ||||
Email: | www.stctransfer.com | ||||
Address: 2901 N. Dallas Parkway, Suite 380, Plano, TX 75093 | |||||
Is the Transfer Agent registered under the Exchange Act?3 Yes: ☒ | No: ☐ |
- Issuance History
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A. Changes to the Number of Outstanding Shares
Check this box to indicate there were no changes to the number of outstanding shares within the past two completed fiscal years and any subsequent periods: ☐
Shares Outstanding as of Second Most Recent
Fiscal Year End:
Opening Balance
Date October 31, 2019 | ||||||||||
Common: 69,874,850 | ||||||||||
Preferred: 0 | ||||||||||
Date of | Transaction | Number of | Class of | Value of | Were the | Individual/ Entity | Reason for share | Restricted or | Exemption | |
Transaction | type (e.g. new | Shares | Securities | shares | shares | Shares were | issuance (e.g. for | Unrestricted | or | |
issuance, | Issued (or | issued | issued at | issued to | cash or debt | as of this | Registration | |||
cancellation, | cancelled) | ($/per | a discount | (entities must | conversion) | filing. | Type. | |||
shares | share) at | to market | have individual | -OR- | ||||||
returned to | Issuance | price at | with voting / | Nature of | ||||||
treasury) | the time | investment | Services | |||||||
of | control | Provided | ||||||||
issuance? | disclosed). | |||||||||
(Yes/No) | ||||||||||
03/01/2020 | New | 100,000 | Common | 0.042 | No | Puyi Sheng | Advisory | Restricted | NA | |
Issuance | Stock | Service | ||||||||
10/27/2020 | New | 100,000 | Common | 0.153 | No | Chiming Yu | Directors' | Restricted | NA | |
Issuance | Stock | Service | ||||||||
10/27/2020 | New | 150,000 | Common | 0.153 | No | Kai Gui | Directors' | Restricted | NA | |
Issuance | Stock | Service | ||||||||
09/24/2021 | New | 80,000 | Common | 0.117 | No | Puyi Sheng | Advisory | Restricted | NA | |
Issuance | Stock | Service | ||||||||
10/26/2021 | New | 100,000 | Common | 0.0731 | No | Chiming Yu | Directors' | Restricted | NA | |
Issuance | Stock | Service | ||||||||
10/26/2021 | New | 200,000 | Common | 0.0731 | No | Kai Gui | Directors' | Restricted | NA | |
Issuance | Stock | Service | ||||||||
Shares Outstanding on Date of This Report: | ||||||||||
Ending Balance | ||||||||||
Date 10/31/2021 | ||||||||||
Common: 70,604,850 | ||||||||||
Preferred: 0 | ||||||||||
During the fiscal year ended October 31, 2020, the Company issued 350,000 new shares of its common stock as compensation for Advisory Service and Directors' Service. During the fiscal year ended October 31, 2021, the Company issued 380,000 new shares of its common stock as compensation for Advisory Service and Directors' Service.
B. Debt Securities, Including Promissory and Convertible Notes
Check this box if there are no outstanding promissory, convertible notes or debt arrangements: ☒
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Date of | Outstanding | Principal | Interest | Maturity | Conversion Terms (e.g. | Name of Noteholder | Reason for | ||||||||||||||||
Note | Balance ($) | Amount | Accrued | Date | pricing mechanism for | (entities must have | Issuance (e.g. | ||||||||||||||||
Issuance | at | ($) | determining conversion of | individual with voting | Loan, Services, | ||||||||||||||||||
Issuance | instrument to shares) | / investment control | etc.) | ||||||||||||||||||||
($) | disclosed). | ||||||||||||||||||||||
- Financial Statements
A. The following financial statements were prepared in accordance with:
☒ U.S. GAAP ☐ IFRS
- The financial statements for this reporting period were prepared by (name of individual)4:
Name: | Kai Gui |
Title: | Chief Financial Officer |
Relationship to Issuer: | Principal Financial Officer |
The following consolidated financial statements of the Company and its subsidiaries are included in this Annual Report at the pages noted below:
Page | |
Consolidated Balance Sheets as of | 12 |
October 31, 2021 and 2020 | |
Consolidated Statements of Operations and Comprehensive Loss for the | 13 |
years ended October 31, 2021 and 2020 | |
Consolidated Statements of Changes in Shareholders' Equity for the | 14 |
years ended October 31, 2021 and 2020 | |
Consolidated Statements of Cash Flows for the | 15 |
years ended October 31, 2021 and 2020 | |
Notes to Consolidated Financial Statements | 16 |
Management's Discussion and Analysis | 24 |
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- Issuer's Business, Products and Services Organizational History
Advanced Biomedical Technologies, Inc. has one direct wholly owned subsidiary, Masterise Holdings Ltd., a limited liability company organized under the laws of British Virgin Islands ("Masterise"). Masterise, owns seventy percent (70%) of the issued and outstanding equity or voting interests in Shenzhen Changhua, a company formed under the laws of the People's Republic of China. (ABMT, Masterise, and Shenzhen Changhua are collectively referred to throughout this document as "We, "Us," "Our" (and similar pronouns), "ABMT" and the "Company").
We were incorporated in the State of Nevada on September 12, 2006. We maintain our statutory registered agent's office at The Corporation Trust Company of Nevada, 311 S Division Street, Carson City, Nevada 89703, and our business office is located at 200 Park Avenue, Suite 1700, New York City, NY 10166. We have not been subject to any bankruptcy, receivership, or similar proceeding, or any material reclassification or consolidation.
Our primary business is carried out by Masterise through Shenzhen Changhua, as set forth in the following diagram:
Shenzhen Changhua does not have any subsidiary.
Organizational History of Masterise and Shenzhen Changhua
Masterise is a wholly owned subsidiary of Advanced Biomedical Technologies, Inc.
Masterise is a limited liability company which was organized under the laws of British Virgin Islands ("BVI") on May 31, 2007, and owns 70% of the capital stock of Shenzhen Changhua.
Shenzhen Changhua is a limited liability company which was organized under the laws of PRC on September 25, 2002.
Since their founding, Shenzhen Changhua has been involved in the development of polymer screws, rods and binding wires for fixation on human fractured bones. The Company is currently involved in researching, manufacturing, marketing and conducting clinical trials on its products and intends to raise additional capital to produce and market its products commercially. The Company holds one Class III permit and one Class
- permit from the China Food and Drug Administration ("CFDA"), now the National Medical Products Administration of the PRC ("NMPA"). The Company holds three patents issued by the State Intellectual Property Office of the P.R.C. ("SIPO") and further patent applications are currently under review by the SIPO.
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Advanced BioMedical Technologies Inc. published this content on 17 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 February 2022 19:17:01 UTC.