Yubo International Biotech Changes Certifying Accountant
Ticker: YBGJ · Form: 8-K · Filed: Jan 6, 2025 · CIK: 895464
| Field | Detail |
|---|---|
| Company | Yubo International Biotech Ltd (YBGJ) |
| Form Type | 8-K |
| Filed Date | Jan 6, 2025 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, 8-K
TL;DR
Yubo International Biotech swapped auditors, filing an 8-K on Jan 6, 2025.
AI Summary
Yubo International Biotech Ltd. filed an 8-K on January 6, 2025, reporting a change in its certifying accountant. The company, formerly known as Magna Lab Inc., is incorporated in New York and based in Beijing, China. This filing indicates a change in their auditor, which could be related to financial reporting or internal control assessments.
Why It Matters
A change in a company's auditor can signal potential issues with financial reporting or internal controls, warranting closer scrutiny by investors.
Risk Assessment
Risk Level: medium — Changes in certifying accountants can sometimes precede or coincide with financial irregularities or restatements, necessitating a review of the company's financial health.
Key Players & Entities
- Yubo International Biotech Ltd (company) — Registrant
- Magna Lab Inc (company) — Former company name
- New York (jurisdiction) — State of incorporation
- Beijing, China (location) — Principal executive offices
- December 26, 2024 (date) — Date of earliest event reported
- January 6, 2025 (date) — Filing date
FAQ
What is the primary reason for the change in Yubo International Biotech Ltd.'s certifying accountant?
The filing does not explicitly state the reason for the change in certifying accountant, only that it occurred.
When was the change in the certifying accountant reported?
The change was reported on an 8-K filing dated January 6, 2025, with the earliest event reported as December 26, 2024.
What was Yubo International Biotech Ltd. formerly known as?
Yubo International Biotech Ltd. was formerly known as Magna Lab Inc.
Where are Yubo International Biotech Ltd.'s principal executive offices located?
The principal executive offices are located at Room 105, Building 5, 31 Xishiku Avenue, Xicheng District, Beijing, China.
In which jurisdiction was Yubo International Biotech Ltd. incorporated?
Yubo International Biotech Ltd. was incorporated in New York.
Filing Stats: 847 words · 3 min read · ~3 pages · Grade level 12.9 · Accepted 2025-01-06 16:15:26
Filing Documents
- yubo_8k.htm (8-K) — 26KB
- yubo_ex161.htm (EX-16.1) — 2KB
- 0001640334-25-000025.txt ( ) — 147KB
- yubo-20241226.xsd (EX-101.SCH) — 6KB
- yubo-20241226_lab.xml (EX-101.LAB) — 14KB
- yubo-20241226_cal.xml (EX-101.CAL) — 1KB
- yubo-20241226_pre.xml (EX-101.PRE) — 9KB
- yubo-20241226_def.xml (EX-101.DEF) — 2KB
- yubo_8k_htm.xml (XML) — 4KB
01 Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant. (a) Dismissal of Independent Registered Public Accounting Firm On December 26, 2024, Yubo International Biotech Limited, a New York corporation (the "Company"), dismissed Michael T. Studer CPA P.C. ("MTS CPA") as the Company's independent registered public accounting firm in light of the retirement of Mr. Studer, the president of MTS CPA. The dismissal was approved by the board of directors (the "Board") of the Company and became effective on January 2, 2025. MTS CPA's report on the financial statements of the Company for the years ended December 31, 2023 and 2022 did not contain an adverse opinion or a disclaimer of opinion, nor was such report qualified or modified as to uncertainty, audit scope, or accounting principle, other than an explanatory paragraph regarding the Company's ability to continue as a going concern. During the Company's fiscal years ended December 31, 2023 and December 31, 2022 and the subsequent interim period from January 1, 2024 to December 26, 2024, (i) there were no disagreements with MTS CPA on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of MTS CPA, would have caused MTS CPA to make reference to the subject matter of the disagreements in connection with its report, and (ii) there were no "reportable events" as such term is defined in Item 304(a)(1)(v) of Regulation S-K. The Company has requested that MTS CPA furnish to the Company a letter addressed to the U.S. Securities and Exchange Commission stating whether or not MTS CPA agrees with the above statements. A copy of such letter, dated January 6, 2025, is filed as Exhibit 16.1 to this current report on Form 8-K. (b) Engagement of New Independent Registered Public Accounting Firm On December 26, 2024, the Company engaged HHL Advisors Group ("HHL") as its new independent registered public accounta
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 16.1 Letter from Michael T. Studer CPA P.C. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: January 6, 2025 Yubo International Biotech Limited By: /s/ Lina Liu Name: Lina Liu Title: Chief Financial Officer 3