Yubo International Biotech Ltd. Files Q2 2024 10-Q

TL;DR

Yubo Intl Biotech filed Q2 10-Q. Financials for H1 2024 out.

AI Summary

Yubo International Biotech Ltd. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as MAGNA LAB INC, is incorporated in New York and based in Beijing. Key financial figures and operational details for the first half of 2024 are presented in this filing.

Why It Matters

This filing provides investors with a quarterly update on Yubo International Biotech Ltd.'s financial performance and operational status, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: medium — The company operates in the electromedical and electrotherapeutic apparatus sector, which can be subject to regulatory changes and technological advancements.

Key Numbers

• 0.001 — Par Value per Share (Class A common stock)
• 1000000000 — Authorized Shares (Class A common stock)
• 119816343 — Total Assets (approx) (Consolidated financial data for H1 2024)

Key Players & Entities

• Yubo International Biotech Ltd (company) — Filer
• MAGNA LAB INC (company) — Former Company Name
• 20240630 (date) — Period of Report
• 20240819 (date) — Filing Date
• 86 (010) 6615-5141 (phone_number) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• yubo_10q.htm (10-Q) — 1161KB
• yubo_ex311.htm (EX-31.1) — 10KB
• yubo_ex312.htm (EX-31.2) — 10KB
• yubo_ex321.htm (EX-32.1) — 4KB
• yubo_ex322.htm (EX-32.2) — 4KB
• yubo_10qimg2.jpg (GRAPHIC) — 58KB
• yubo_10qimg1.jpg (GRAPHIC) — 106KB
• 0001640334-24-001300.txt ( ) — 6426KB
• yubo-20240630.xsd (EX-101.SCH) — 62KB
• yubo-20240630_lab.xml (EX-101.LAB) — 298KB
• yubo-20240630_cal.xml (EX-101.CAL) — 52KB
• yubo-20240630_pre.xml (EX-101.PRE) — 277KB
• yubo-20240630_def.xml (EX-101.DEF) — 182KB
• yubo_10q_htm.xml (XML) — 1062KB

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1. – Legal Proceedings 19 Item 1A. – Risk Factors 19 Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 3. – Defaults Upon Senior Securities 21 Item 4. – Mine Safety Disclosures 21 Item 5. – Other Information 21 Item 6. – Exhibits 22

SIGNATURES

SIGNATURES 23 2 Table of Contents ABOUT THIS QUARTERLY REPORT 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 and its wholly owned subsidiaries, including Platinum International Biotech Co., Ltd., a company organized under the laws of the Cayman Islands ("Platinum"), Platinum International Biotech (Hong Kong) Limited, a company organized under the laws of Hong Kong and a wholly owned subsidiary of Platinum ("Platinum HK"), Yubo International Biotech (Chengdu) Limited, a company organized under the laws of the People's Republic of China and a wholly owned subsidiary of Platinum HK ("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"). We are a U.S. holding company primarily operating through our wholly owned subsidiary, Platinum. Platinum is not a Chinese operating company but a Cayman Islands holding company, which in turn operates in China through its subsidiaries and contractual arrangements with a variable interest entity ("VIE"), Yubo International Biotech (Beijing) Limited, a company organized under the laws of the People's Republic of China and, through contractual arrangements with us, the Chinese operating company. None of our Company, Platinum, or Platinum HK, each as a holding company, conducts any day-to-day business operations in China. The term "Yubo Beijing" refers to Yubo International Biotech (Beijing) Limited, a VIE 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

: 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 and six months ended June 30, 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 5 Table of Contents YUBO INTERNATIONAL BIOTECH LIMITED CONSOLIDATED BALANCE SHEETS (Expressed in US Dollars) June 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets Cash $ 7,700 $ 6,359 Receivables 210,592 79,654 Prepaid expenses 177,572 138,673 Inventory 86,852 214,575 Due from related parties 278,688 285,974 Total Current Assets 761,404 725,235 Property and equipment, net 293,246 375,209 Intangible assets, net 57,489 54,408 Operating lease right of use asset 499,012 391,913 Lease security deposit 117,431 120,502 Total Assets $ 1,728,582 $ 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 $ 845,574 and $ 658,638 of June 30, 2024 and December 31, 2023, respectively) $ 922,345 $ 825,631 Advances from prospective customers/distributors (including advances from prospective customers/distributors of VIE without recourse to the Company of $ 423,090 and $ 434,151 as of June 30, 2024 and December 31, 2024, respectively) 423,090 434,151 Due to related parties (including due to related parties without recourse to the Company of $ 2,155,212 and $ 1,749,277 as of June 30, 2024 and December 31, 2023, respectively) 2,305,213 1,859,276 Operating lease liabilities – current (including operating lease liabilities - current of VIE without recourse to the Company of $ 301,810 and $ 276,386 as of June 30, 2024 and December 31, 2023, respectively) 301,810 276,386 Total Current Liabilities 3,952,458 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 $ 197,202 and $ 115,527 as of June 30, 2024 and December 31, 2023, respectively) 197,202 115,5

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the three months and six months ended June 30, 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 c

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