Yubo International Biotech Ltd Files Q1 2024 10-Q

TL;DR

Yubo Intl Biotech Q1 2024 10-Q filed. Check financials.

AI Summary

Yubo International Biotech Ltd filed its Q1 2024 10-Q report on May 20, 2024, for the period ending March 31, 2024. The company, incorporated in NY, operates in the electromedical and electrotherapeutic apparatus sector. Financial details and specific business segment performance are outlined in the filing.

Why It Matters

This filing provides investors with a quarterly update on Yubo International Biotech Ltd's financial health and operational performance, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the company operates in a specialized industry, and specific financial performance details are not fully elaborated in the provided header information.

Key Numbers

• 119816343 — Class A common stock shares outstanding (As of the reporting period)
• 4447 — Par value per share (For Class A common stock)
• 500000000 — Authorized shares (For Class A common stock)

Key Players & Entities

• Yubo International Biotech Ltd (company) — Filer of the 10-Q report
• 0001640334-24-000849 (other) — Accession Number for the filing
• 20240520 (date) — Filing date of the report
• 20240331 (date) — Period of report for the 10-Q
• NY (state) — State of incorporation
• 3845 (other) — Standard Industrial Classification code for Electromedical & Electrotherapeutic Apparatus
• BEIJING (city) — Business and mailing address city

FAQ

Key Financial Figures

• $0.001 — e – May 16, 2024 Class A Common Stock, $0.001 par value 119,816,343 Class B Common

Filing Documents

• yubo_10q.htm (10-Q) — 803KB
• yubo_ex311.htm (EX-31.1) — 9KB
• yubo_ex312.htm (EX-31.2) — 9KB
• yubo_ex321.htm (EX-32.1) — 4KB
• yubo_ex322.htm (EX-32.3) — 4KB
• 0001640334-24-000849.txt ( ) — 4573KB
• yubo-20240331.xsd (EX-101.SCH) — 55KB
• yubo-20240331_lab.xml (EX-101.LAB) — 272KB
• yubo-20240331_cal.xml (EX-101.CAL) — 50KB
• yubo-20240331_pre.xml (EX-101.PRE) — 245KB
• yubo-20240331_def.xml (EX-101.DEF) — 153KB
• yubo_10q_htm.xml (XML) — 697KB

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1. – Legal Proceedings 14 Item 1A. – Risk Factors 14 Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 14 Item 3. – Defaults Upon Senior Securities 14 Item 4. – Mine Safety Disclosures 14 Item 5. – Other Information 14 Item 6. – Exhibits 15

SIGNATURES

SIGNATURES 16 In this Quarterly Report on Form 10-Q (this "Quarterly Report"), unless otherwise specified, the terms "we," "our," "us," our "Company," the "Company," or the "Registrant" refer to Yubo International Biotech Limited, a U.S. holding company and a New York corporation (formerly known as Magna-Lab, Inc.) and its wholly owned subsidiaries, including without limitation, Platinum International Biotech Co., Ltd., a company organized under the laws of the Cayman Islands, and Yubo International Biotech (Chengdu) Limited, a company organized under the laws of the People's Republic of China ("Yubo Chengdu" or the "WFOE"), and Yubo Global Biotechnology (Chengdu) Co., Ltd., a company organized under the laws of the People's Republic of China ("Yubo Global"). The term "Yubo Beijing" refers to Yubo International Biotech (Beijing) Limited, a variable interest entity organized under the laws of the People's Republic of China, including its wholly-owned subsidiary, Phoenix Club Bio-Medical Technology (Chengdu) Co., Ltd, a company organized under the laws of the People's Republic of China ("Yubo Phoenix"), and two other PRC subsidiaries, Yubo Jingzhi Biotechnology (Chengdu) Co., Ltd. ("Yubo Jingzhi") and EpiAis Biomedical Engineering Co., Ltd. ("Yubo Shenzhen"). 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements YUBO INTERNATIONAL BIOTECH LIMITED INDEX TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2024 and 2023 Table of Contents Consolidated Balance Sheets (Unaudited) F-1 Consolidated Statements of Operations and Comprehensive Loss (Unaudited) F-2 Consolidated Statements of Changes in Shareholders' Equity (Unaudited) F-3 Consolidated Statements of Cash Flows (Unaudited) F-4

Notes to Consolidated Financial Statements (Unaudited)

Notes to Consolidated Financial Statements (Unaudited) F-5 4 Table of Contents CONSOLIDATED BALANCE SHEETS (Expressed in US Dollars) (Unaudited) March 31, December 31, 2024 2023 (Unaudited) ASSETS Current assets Cash $ 57,024 $ 6,359 Receivables 114,723 79,654 Prepaid expenses 70,842 138,673 Inventory 211,803 214,575 Due from related parties 280,468 285,974 Total Current Assets 734,860 725,235 Property and equipment, net 343,398 375,209 Intangible assets, net 61,242 54,408 Operating lease right of use asset 291,599 391,913 Lease security deposit 118,181 120,502 Total Assets $ 1,549,280 $ 1,667,269 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses (including accounts payable and accrued expenses of VIE without recourse to the Company of $ 458,796 and $ 454,411 of March 31, 2024 and December 31, 2023, respectively) $ 822,995 $ 825,632 Advances from prospective customers/distributors (including advances from prospective customers/distributors of VIE without recourse to the Company of $ 425,792 and $ 434,151 as of March 31, 2024 and December 31, 2023, respectively) 425,792 434,151 Due to related parties (including due to related parties without recourse to the Company of $ 1,887,254 and $ 1,690,922 as of March 31, 2024 and December 31, 2023, respectively) 2,069,485 1,859,276 Operating lease liabilities – current (including operating lease liabilities - current of VIE without recourse to the Company of $ 105,108 and $ 182,856 as of March 31, 2024 and December 31, 2023, respectively) 200,292 276,386 Total Current Liabilities 3,518,564 3,395,445 Non-current liabilities Operating lease liabilities - non-current (including operating lease liability – non- current of VIE without recourse to the Company of $ 0 and $ 0 as of March 31, 2024 and December 31, 2023, respectively) 91,306 115,527 Total Liabilities 3

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2024 and 2023 (Unaudited) NOTE 1 – ORGANIZATION Yubo International Biotech Limited (formerly Magna-Lab Inc.) (the "Company"), a New York corporation, acquired Platinum International Biotech Co. Ltd. ("Platinum") in a "reverse merger" transaction on January 14, 2021. On January 14, 2021 (the "Closing Date"), the Company closed a voluntary share exchange transaction with Platinum International Biotech Co., Ltd., a company organized under the laws of the Cayman Islands ("Platinum"), pursuant to that certain Agreement and Plan of Share Exchange, dated January 14, 2021 (the "Exchange Agreement"), by and among the Company, Platinum, Yubo International Biotech (Beijing) Limited, a company organized under the laws of the People's Republic of China ("PRC") ("Yubo Beijing"), and certain selling stockholders named therein. In accordance with the terms of the Exchange Agreement, on the Closing Date, the Company issued a total of 117,000,000 shares of its Class A common stock to the Selling Stockholders, who were then stockholders of Platinum (the "Selling Stockholders"), in exchange for 100% of the issued and outstanding capital stock of Platinum (the "Exchange Transaction"). As a result of the Exchange Transaction, the Selling Stockholders acquired more than 99 % of the Company's issued and outstanding capital stock, Platinum became the Company's wholly-owned subsidiary, and the Company acquired the business and operations of Platinum and Yubo Beijing. Immediately prior to the Exchange Transaction, the Company had 117,875,323 shares of Class A common stock and 4,447 shares of Class B common stock issued and outstanding. Immediately after the Exchange Transaction and the surrender and cancellation of 116,697,438 shares held by Lina Liu, the controlling shareholder, Chief Financial Officer, Treasurer and Secretary of the Company, the Company had 118,177,885 shares of Class A common stock an

Financial Statements of Yubo Beijing (VIE)

Financial Statements of Yubo Beijing (VIE) The assets and liabilities of Yubo Beijing (VIE) at March 31, 2024 and December 31, 2023 consist of: March 31, 2024 December 31, 2023 (Unaudited) Cash $ 707 $ 1,115 Receivables (net) 27,705 28,249 Prepaid Expenses 33,756 107,921 Inventory 209,536 214,575 Due from related parties 280,468 285,974 Property and equipment (net) 28,144 13,806 Intangible assets (net) 61,242 54,409 Operating lease right of use asset 105,108 182,856 Lease security deposit 81,599 83,201 Investment in Yubo Jingzhi and Yubo Phoenix (A) 254,883 259,887 Receivables from other consolidated entities (A) 377,095 357,860 Total assets 1,460,243 1,589,853 Accounts payable and accrued expenses 458,796 454,411 Advances from prospective customers/distributors 425,792 434,151 Due to related parties 1,887,254 1,690,922 Operating lease liabilities 105,108 182,856 Payables to other consolidated entities (A) 426,271 459,181 Total liabilities 3,303,221 3,221,521 Shareholders' equity $ ( 1,842,978 ) $ ( 1,631,668 ) (A) Eliminated in consolidation. F-7 Table of Contents Except for $ 56,402 occupancy expense, $ 41,513 depreciation expense and $ 53,297 other operating expenses for the three months ended March 31, 2024 and except for $ 25,288 occupancy expense, $ 4,634 depreciation expense and $ 5,589 other operating expenses for the three months ended March 21, 2023, all revenues and expenses included in the accompanying Consolidated Statements of Operations for the three months ended March 31, 2024 and March 31, 2023 represent revenues and expenses of Yubo Beijing. Foreign Currency Translation The accompanying consolidated financial statements are presented in United States dollars ("

View Full Filing

View this 10-Q filing on SEC EDGAR