Yubo International Biotech Ltd. Files Q3 2024 10-Q

TL;DR

Yubo Intl Biotech filed 10-Q for Q3 2024. Based in Beijing.

AI Summary

Yubo International Biotech Ltd. filed its 10-Q for the period ending September 30, 2024. The company, incorporated in NY, operates in the electromedical and electrotherapeutic apparatus sector. Its principal business address is in Beijing, China.

Why It Matters

This filing provides investors with an update on Yubo International Biotech Ltd.'s financial performance and operational status for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial and operational information.

Key Numbers

• 0.001 — Par Value per Share (Class A common stock)
• 500000000 — Authorized Shares (Class A common stock)
• 119816343 — Shares Outstanding (Consolidated Total)

Key Players & Entities

• Yubo International Biotech Ltd (company) — Filer
• 0000895464 (company) — Central Index Key
• NY (company) — State of Incorporation
• 86 (010) 6615-5141 (company) — Business Phone
• MAGNA LAB INC (company) — Former Company Name
• 19940722 (date) — Date of Former Company Name Change
• 20240930 (date) — Period of Report
• 20241113 (date) — Filing Date

FAQ

Key Financial Figures

• $0.001 — vember 13, 2024. Class A Common Stock, $0.001 par value 119,816,343 Class B Common

Filing Documents

• yubo_10q.htm (10-Q) — 1195KB
• yubo_ex311.htm (EX-31.1) — 12KB
• yubo_ex312.htm (EX-31.2) — 12KB
• yubo_ex321.htm (EX-32.1) — 5KB
• yubo_ex322.htm (EX-32.2) — 5KB
• yubo_10qimg2.jpg (GRAPHIC) — 46KB
• yubo_10qimg1.jpg (GRAPHIC) — 88KB
• 0001640334-24-001693.txt ( ) — 6342KB
• yubo-20240930.xsd (EX-101.SCH) — 61KB
• yubo-20240930_lab.xml (EX-101.LAB) — 301KB
• yubo-20240930_cal.xml (EX-101.CAL) — 52KB
• yubo-20240930_pre.xml (EX-101.PRE) — 280KB
• yubo-20240930_def.xml (EX-101.DEF) — 181KB
• yubo_10q_htm.xml (XML) — 1033KB

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements F-6 Item 2. – Management's Discussion and Analysis of Financial Condition and Results of Operations 6 Item 3. – Quantitative and Qualitative Disclosures about Market Risk 18 Item 4. – Controls and Procedures 18

- OTHER INFORMATION

PART II - OTHER INFORMATION 19 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 nine months ended September 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-5

Notes to Consolidated Financial Statements (Unaudited)

Notes to Consolidated Financial Statements (Unaudited) F-6 5 Table of Contents YUBO INTERNATIONAL BIOTECH LIMITED CONSOLIDATED BALANCE SHEETS (Expressed in US Dollars) (Unaudited) September 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets Cash $ 8,034 $ 6,359 Receivables 218,014 79,654 Prepaid expenses 202,625 138,673 Inventory 6,574 214,575 Due from related parties 288,718 285,974 Total Current Assets 723,965 725,235 Property and equipment, net 256,778 375,209 Intangible assets, net 56,073 54,408 Operating lease right of use asset 579,444 391,913 Lease security deposits 37,659 120,502 Total Assets $ 1,653,919 $ 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 $ 830,334 and $ 658,638 as of September 30, 2024 and December 31, 2023, respectively) $ 909,869 $ 825,632 Advances from prospective customers/distributors (including advances from prospective customers/distributors of VIE without recourse to the Company of $ 438,318 and $ 434,151 as of September 30, 2024 and December 31, 2023, respectively) 438,318 434,151 Due to related parties (including due to related parties without recourse to the Company of $ 2,618,041 and $ 1,749,277 as of September 30, 2024 and December 31, 2023, respectively) 2,768,041 1,859,276 Operating lease liabilities – current (including operating lease liabilities - current of VIE without recourse to the Company of $ 373,367 and $ 276,386 as of September 30, 2024 and December 31, 2023, respectively) 373,367 276,386 Total Current Liabilities 4,489,595 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 $ 206,077 and $ 115,527 as of September 30, 2024 and Dec

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the three months and nine months ended September 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 Cla

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