10-Q Filing

YUBO INTERNATIONAL BIOTECH LTD CIK: 895464 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001640334-20-002616`
Period End Date	20200831
Filing Date	20201020
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	magaa-20200831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 36 Income Statement 50 Cash Flow Statement 43 Stockholders Equity 19

Balance Sheet 36 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`Cash`	$1.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Notes payable and accrued interest payable to related parties	`NotesPayable`	$1.47M	USD	Point-in-time
Notes payable and accrued interest payable to related parties	`NotesPayable`	$1.41M	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$9.00K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Accounts payable	`AccountsPayableOtherCurrent`	-	USD	Point-in-time
Accounts payable	`AccountsPayableOtherCurrent`	$353.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$40.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$3.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.80M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $.01 per share, 5,000,000 shares authorized, none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.01 per share, 5,000,000 shares authorized, none issued	`PreferredStockValue`	-	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$27.29M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$27.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-29.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.81M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.66M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.80M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.70M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.83M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.73M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.48M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	-	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$1.00K	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	-	USD	2 Qtrs
REVENUES	`Revenues`	-	USD	2 Qtrs
REVENUES	`Revenues`	-	USD	1 Quarter
REVENUES	`Revenues`	-	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$17.00K	USD	2 Qtrs
General and administrative	`SellingGeneralAndAdministrativeExpense`	$21.00K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$28.00K	USD	2 Qtrs
General and administrative	`SellingGeneralAndAdministrativeExpense`	$8.00K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-17.00K	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-21.00K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-28.00K	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-8.00K	USD	1 Quarter
Gain from debt extinguishment	`ExtinguishmentOfDebtAmount`	$191.00K	USD	1 Quarter
Gain from debt extinguishment	`ExtinguishmentOfDebtAmount`	-	USD	2 Qtrs
Gain from debt extinguishment	`ExtinguishmentOfDebtAmount`	$191.00K	USD	2 Qtrs
Gain from debt extinguishment	`ExtinguishmentOfDebtAmount`	-	USD	1 Quarter
Gain from settlement of accounts payable	`GainLossRelatedToLitigationSettlement`	-	USD	1 Quarter
Gain from settlement of accounts payable	`GainLossRelatedToLitigationSettlement`	$167.00K	USD	2 Qtrs
Gain from settlement of accounts payable	`GainLossRelatedToLitigationSettlement`	-	USD	2 Qtrs
Gain from settlement of accounts payable	`GainLossRelatedToLitigationSettlement`	$167.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$52.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$26.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$26.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$53.00K	USD	2 Qtrs
Other income (expense) - net	`InterestExpenseOther`	$305.00K	USD	2 Qtrs
Other income (expense) - net	`InterestExpenseOther`	$-52.00K	USD	2 Qtrs
Other income (expense) - net	`InterestExpenseOther`	$-26.00K	USD	1 Quarter
Other income (expense) - net	`InterestExpenseOther`	$332.00K	USD	1 Quarter
NET INCOME (LOSS) BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-35.00K	USD	1 Quarter
NET INCOME (LOSS) BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$277.00K	USD	2 Qtrs
NET INCOME (LOSS) BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$311.00K	USD	1 Quarter
NET INCOME (LOSS) BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-69.00K	USD	2 Qtrs
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-34.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$311.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-34.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$277.00K	USD	2 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$-69.00K	USD	2 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$-35.00K	USD	1 Quarter
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING BASIC AND DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.18M	shares	2 Qtrs
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING BASIC AND DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.18M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING BASIC AND DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.18M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING BASIC AND DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.18M	shares	2 Qtrs
NET INCOME (LOSS) PER COMMON SHARE, Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
NET INCOME (LOSS) PER COMMON SHARE, Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.26	USD	1 Quarter
NET INCOME (LOSS) PER COMMON SHARE, Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	2 Qtrs
NET INCOME (LOSS) PER COMMON SHARE, Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.23	USD	2 Qtrs

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-34.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$311.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-34.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$277.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-69.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-35.00K	USD	1 Quarter
Gain from debt extinguishment	`ExtinguishmentOfDebtAmount`	$191.00K	USD	1 Quarter
Gain from debt extinguishment	`ExtinguishmentOfDebtAmount`	-	USD	2 Qtrs
Gain from debt extinguishment	`ExtinguishmentOfDebtAmount`	$191.00K	USD	2 Qtrs
Gain from debt extinguishment	`ExtinguishmentOfDebtAmount`	-	USD	1 Quarter
Gain from settlement of accounts payable	`GainLossRelatedToLitigationSettlement`	-	USD	1 Quarter
Gain from settlement of accounts payable	`GainLossRelatedToLitigationSettlement`	$167.00K	USD	2 Qtrs
Gain from settlement of accounts payable	`GainLossRelatedToLitigationSettlement`	-	USD	2 Qtrs
Gain from settlement of accounts payable	`GainLossRelatedToLitigationSettlement`	$167.00K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$9.00K	USD	2 Qtrs
Accrued interest payable to related parties	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$52.00K	USD	2 Qtrs
Accrued interest payable to related parties	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$53.00K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Accounts payable and accrued expenses and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$8.00K	USD	2 Qtrs
Accounts payable and accrued expenses and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	-	USD	2 Qtrs
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-11.00K	USD	2 Qtrs
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-17.00K	USD	2 Qtrs
Proceeds received from notes payable to related parties	`ProceedsFromRelatedPartyDebt`	$14.00K	USD	2 Qtrs
Proceeds received from notes payable to related parties	`ProceedsFromRelatedPartyDebt`	-	USD	2 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$10.00K	USD	2 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$14.00K	USD	2 Qtrs
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.00K	USD	2 Qtrs
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.00K	USD	2 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.00K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.00K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.00K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$4.00K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.00K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.00K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Payment of accounts payable and accrued expenses by Activist Investing LLC on July 2, 2020 pursuant to Stock Purchase Agreement dated June 30, 2020	`PaymentOfAccountsPayableAndAccruedExpensesBy`	-	USD	2 Qtrs
Payment of accounts payable and accrued expenses by Activist Investing LLC on July 2, 2020 pursuant to Stock Purchase Agreement dated June 30, 2020	`PaymentOfAccountsPayableAndAccruedExpensesBy`	$37.00K	USD	2 Qtrs

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-1.66M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.80M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.70M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.83M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.73M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.48M	USD	Point-in-time
NET INCOME (LOSS)	`NetIncomeLoss`	$-34.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$311.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-34.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$277.00K	USD	2 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$-69.00K	USD	2 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$-35.00K	USD	1 Quarter
Payment of accounts payable and accrued expenses by Activist Investing LLC on July 2, 2020 pursuant to Stock Purchase Agreement dated June 30, 2020	`PaymentOfAccountsPayableAndAccruedExpensesByActivistInvestingLlcOnJuly22020PursuantToStockPurchaseAgreementDatedJune302020`	$37.00K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$-1.66M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.80M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.70M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.83M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.73M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.48M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.