Yong Bai Chao New Retail Corp Files Q3 2024 10-Q

TL;DR

Yong Bai Chao (YBCC) filed its Q3 2024 10-Q. Financials are in.

AI Summary

Yong Bai Chao New Retail Corp filed its 10-Q for the period ending September 30, 2024. The company, previously known as ENVIRONMENTAL CONTROL CORP. and BOSS MINERALS INC., is in the motor vehicle parts & accessories industry. Its principal executive offices are located in Shanghai, China. The filing details financial information for the third quarter of 2024.

Why It Matters

This filing provides investors with an update on the financial performance and position of Yong Bai Chao New Retail Corp for the third quarter of 2024, crucial for understanding the company's ongoing operations and future prospects.

Risk Assessment

Risk Level: medium — The company has a history of name changes and operates in a specific industry, requiring further investigation into its financial health and market position.

Key Numbers

• $190,000,000 — Total Assets (Reported for the period ending 2024-09-30)
• $189,120,068 — Total Liabilities (Reported for the period ending 2024-09-30)
• $189,495,068 — Total Equity (Reported for the period ending 2024-09-30)

Key Players & Entities

• Yong Bai Chao New Retail Corp (company) — Filer of the 10-Q
• ENVIRONMENTAL CONTROL CORP. (company) — Former company name
• BOSS MINERALS INC. (company) — Former company name
• MOTOR VEHICLE PARTS & ACCESSORIES (industry) — Standard Industrial Classification
• Shanghai (location) — Business and mailing address city
• 20240930 (date) — Conformed period of report

FAQ

Key Financial Figures

• $1,000 — ent, the Company agreed to pay a fee of $1,000 per month for a period of six months be
• $60,000 — to Mr. Glass for an aggregate price of $60,000, which sum was paid by the performance
• $6,685 — n the Company's behalf in the amount of $6,685. The expenses incurred by Mr. Glass inc
• $5,160 — expenses incurred by Mr. Glass included $5,160 to the state of Nevada for fees in conn
• $1,250 — e requirements of Nevada corporate law; $1,250 to the transfer agent for outstanding f
• $275 — ransfer agent for outstanding fees; and $275 to the state of Nevada as a filing fee
• $90,000 — ommon stock, to Lili Xin for the sum of $90,000. Ms. Chang became acquainted with Mr. G
• $350,000 — f Three Hundred Fifty Thousand Dollars ($350,000). The seller relied on the exemption fr

Filing Documents

• ybcn_10q.htm (10-Q) — 364KB
• ybcn_ex311.htm (EX-31.1) — 9KB
• ybcn_ex312.htm (EX-31.2) — 9KB
• ybcn_ex321.htm (EX-32.1) — 4KB
• ybcn_ex322.htm (EX-32.2) — 3KB
• 0001477932-24-007407.txt ( ) — 1528KB
• ybcn-20240930.xsd (EX-101.SCH) — 16KB
• ybcn-20240930_lab.xml (EX-101.LAB) — 94KB
• ybcn-20240930_cal.xml (EX-101.CAL) — 18KB
• ybcn-20240930_pre.xml (EX-101.PRE) — 69KB
• ybcn-20240930_def.xml (EX-101.DEF) — 16KB
• ybcn_10q_htm.xml (XML) — 140KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 10 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 14 Item 4

Controls and Procedures

Controls and Procedures 14

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 15 Item 1A.

Risk Factors

Risk Factors 15 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 15 Item 3. Defaults upon Senior Securities 15 Item 4. Mine Safety Disclosures 15 Item 5. Other Information 15 Item 6. Exhibits 16 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. YONG BAI CHAO NEW RETAIL CORPORATION CONDENSED BALANCE SHEETS September 30, December 31, 2024 2023 (Unaudited) ASSETS CURRENT ASSETS: Cash $ - $ - TOTAL CURRENT ASSETS - - TOTAL ASSETS $ - $ - LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES: Accounts payable and accrued liabilities $ 14,155 $ 7,322 Due to related party 127,393 99,337 TOTAL CURRENT LIABILITIES 141,548 106,659 Commitments and contingencies STOCKHOLDERS' DEFICIT: Preferred stock ($ 0.001 par value; 10,000,000 shares authorized; 0 share issued and outstanding at September 30, 2024 and December 31, 2023) - - Common stock ($ 0.001 par value; 190,000,000 shares authorized; 189,495,068 shares issued and 189,120,068 shares outstanding at September 30, 2024 and December 31, 2023) 195,496 195,496 Common stock to be issued 2,282 2,282 Treasury Stock - - Additional paid-in capital 3,371,271 3,371,271 Accumulated deficit ( 3,710,597 ) ( 3,675,708 ) TOTAL STOCKHOLDERS' DEFICIT ( 141,548 ) ( 106,659 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ - $ - The accompanying notes are an integral part of these unaudited condensed financial statements. 3 Table of Contents YONG BAI CHAO NEW RETAIL CORPORATION CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 Revenue $ - $ - $ - $ - Operating Expenses: Professional fees 7,653 9,970 34,889 53,767 Total Operating Expenses 7,653 9,970 34,889 53,767 Loss from Operations ( 7,653 ) ( 9,970 ) ( 34,889 ) ( 53,767 ) Other Income (Expense): Interest expense - - - - Total Other Income (Expense) - - - - Loss Before Income Taxes ( 7,653 ) ( 9,970 ) ( 34,889 ) ( 53,767 ) Income Taxes - - - - Net Loss $ ( 7,653 ) $ ( 9,970 ) $ ( 34,889 ) $ ( 53,767 ) Net los

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis of financial condition and results of operations relates to the operations and financial condition reported in the unaudited condensed financial statements of the Company for the three and nine months ended September 30, 2024 and 2023 should be read in conjunction with such financial statements and related notes included in this report. Except for the historical information contained herein, the following discussion, as well as other information in this report, contain "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the "safe harbor" created by those sections. Actual results and the timing of the events may differ materially from those contained in these forward-looking statements due to a number of factors, including those discussed in the "Forward-Looking Statements" set forth elsewhere in this Quarterly Report on Form 10-Q. Overview Yong Bai Chao New Retail Corporation f/k/a Environmental Control Corp. ("we," "us," the "Company" or like terms) was incorporated in the State of Nevada on February 17, 2004 under the name Boss Minerals, Inc. to pursue the exploration and development of mining claims located in British Columbia, Canada. During the quarter ended June 30, 2004, the Company filed a registration statement on Form SB-2 with the Securities and Exchange Commission ("SEC") to register shares of common stock for public resale by certain stockholders identified in the registration statement. Upon the effective date of the registration statement, the Company became subject to the reporting requirements of Section 12(b) under the Securities Exchange Act of 1934, as amended (the "Exchange Act") and commenced filing reports under the Exchange Act through the quarter ended June 30, 2012

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View this 10-Q filing on SEC EDGAR