10-Q Filing

YUBO INTERNATIONAL BIOTECH LTD CIK: 895464 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001640334-22-001053`
Period End Date	20220331
Filing Date	20220516
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	yubo_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 44 Cash Flow Statement 52 Stockholders Equity 14

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts, receivables	`AllowanceForDoubtfulAccountsReceivables`	$47.11K	USD	Point-in-time
Allowance for doubtful accounts, receivables	`AllowanceForDoubtfulAccountsReceivables`	$94.20K	USD	Point-in-time
Accounts payable and accrued expense VIE without recourse	`AccountsPayableAndAccruedExpenseVieWithoutRecourse1`	$69.74K	USD	Point-in-time
Accounts payable and accrued expense VIE without recourse	`AccountsPayableAndAccruedExpenseVieWithoutRecourse1`	$35.16K	USD	Point-in-time
Cash	`Cash`	$10.44K	USD	Point-in-time
Advances from prospective customers/distributors without recourse to the company	`AdvancesFromProspectiveCustomersDistributorsWithoutRecourseToTheCompany`	$483.93K	USD	Point-in-time
Advances from prospective customers/distributors without recourse to the company	`AdvancesFromProspectiveCustomersDistributorsWithoutRecourseToTheCompany`	$484.96K	USD	Point-in-time
Cash	`Cash`	$27.52K	USD	Point-in-time
Due to related parties without recourse to the company	`DueToRelatedPartiesWithoutResorces`	$843.01K	USD	Point-in-time
Receivables (net of allowance for doubtful accounts of $94,197 and $47,112, respectively)	`ReceivablesNetCurrent`	$152.85K	USD	Point-in-time
Receivables (net of allowance for doubtful accounts of $94,197 and $47,112, respectively)	`ReceivablesNetCurrent`	$161.96K	USD	Point-in-time
Due to related parties without recourse to the company	`DueToRelatedPartiesWithoutResorces`	$532.12K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$306.98K	USD	Point-in-time
Operating lease liabilities current of VIE without recourse to the Company	`OperatingLeaseLiability`	$307.81K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$270.15K	USD	Point-in-time
Operating lease liabilities current of VIE without recourse to the Company	`OperatingLeaseLiability`	$293.99K	USD	Point-in-time
Operating lease liability non current of VIE without recourse to the Company	`NonCurrentOperatingLeaseLiability`	$406.01K	USD	Point-in-time
Operating lease liability non current of VIE without recourse to the Company	`NonCurrentOperatingLeaseLiability`	$288.34K	USD	Point-in-time
Inventory	`InventoryNet`	$164.30K	USD	Point-in-time
Inventory	`InventoryNet`	$152.85K	USD	Point-in-time
Due from related parties	`DueFromRelatedParties`	$397.59K	USD	Point-in-time
Due from related parties	`DueFromRelatedParties`	$318.76K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$910.05K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.06M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$643.87K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$653.48K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$36.76K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$38.88K	USD	Point-in-time
Operating lease right of use asset	`OperatingLeaseRightOfUseAsset`	$2.69M	USD	Point-in-time
Operating lease right of use asset	`OperatingLeaseRightOfUseAsset`	$2.77M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	10.00M	shares	Point-in-time
Lease security deposit	`SecurityDeposit`	$92.68K	USD	Point-in-time
Lease security deposit	`SecurityDeposit`	$152.16K	USD	Point-in-time
Total Assets	`Assets`	$4.47M	USD	Point-in-time
Total Assets	`Assets`	$4.59M	USD	Point-in-time
Accounts payable and accrued expenses (including accounts payable and accrued expenses of VIE without recourse to the Company of $35,158 and $69,741 as of March 31, 2022 and December 31, 2021, respectively)	`AccountsPayableAndOtherAccruedLiabilities`	$275.83K	USD	Point-in-time
Accounts payable and accrued expenses (including accounts payable and accrued expenses of VIE without recourse to the Company of $35,158 and $69,741 as of March 31, 2022 and December 31, 2021, respectively)	`AccountsPayableAndOtherAccruedLiabilities`	$394.71K	USD	Point-in-time
Advances from prospective customers/distributors (including advances from prospective customers/distributors of VIE without recourse to the Company of $483,932 nd $484,956 as of March 31, 2022 and December 31, 2021, respectively)	`CustomerDepositsCurrent`	$483.93K	USD	Point-in-time
Advances from prospective customers/distributors (including advances from prospective customers/distributors of VIE without recourse to the Company of $483,932 nd $484,956 as of March 31, 2022 and December 31, 2021, respectively)	`CustomerDepositsCurrent`	$484.96K	USD	Point-in-time
Due to related parties (including due to related parties without recourse to the Company of $843,013 and $532,121 as of March 31, 2022 and December 31, 2021 respectively)	`DueToRelatedPartiesCurrent`	$1.57M	USD	Point-in-time
Due to related parties (including due to related parties without recourse to the Company of $843,013 and $532,121 as of March 31, 2022 and December 31, 2021 respectively)	`DueToRelatedPartiesCurrent`	$1.26M	USD	Point-in-time
Operating lease liabilities - current (including operating lease liabilities - current of VIE without recourse to the Company of $307,812 and $293,985 as of March 31, 2022 and December 31, 2021, respectively)	`OperatingLeaseLiabilityCurrent`	$859.94K	USD	Point-in-time
Operating lease liabilities - current (including operating lease liabilities - current of VIE without recourse to the Company of $307,812 and $293,985 as of March 31, 2022 and December 31, 2021, respectively)	`OperatingLeaseLiabilityCurrent`	$765.58K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.79M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.31M	USD	Point-in-time
Operating lease liabilities - non-current (including operating lease liability - non- current of VIE without recourse to the Company of $406,013 and $288,337 as of March 31, 2022 and December 31, 2021, respectively)	`OperatingLeaseLiabilityNoncurrent`	$1.93M	USD	Point-in-time
Operating lease liabilities - non-current (including operating lease liability - non- current of VIE without recourse to the Company of $406,013 and $288,337 as of March 31, 2022 and December 31, 2021, respectively)	`OperatingLeaseLiabilityNoncurrent`	$1.91M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.72M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.23M	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`	$2.12M	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$2.12M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.49M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.06M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$68.48K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$118.45K	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$1.17M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$-760.12K	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$-131.20K	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$926.52K	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.59M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.47M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Sales	`Sales`	$462.33K	USD	1 Quarter
Sales	`Sales`	$15.21K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsAndServicesSold`	$146.74K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsAndServicesSold`	$6.95K	USD	1 Quarter
Gross Profit	`GrossProfit`	$8.27K	USD	1 Quarter
Gross Profit	`GrossProfit`	$315.59K	USD	1 Quarter
Sales commissions	`SalesCommissions`	$138.35K	USD	1 Quarter
Sales commissions	`SalesCommissions`	$3.82K	USD	1 Quarter
Employee compensation	`EmployeeCompensation`	$218.23K	USD	1 Quarter
Employee compensation	`EmployeeCompensation`	$202.83K	USD	1 Quarter
Occupancy	`Occupancy`	$259.27K	USD	1 Quarter
Occupancy	`Occupancy`	$107.73K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$47.08K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Depreciation and amortization of property and equipment	`DepreciationAmortizationAndAccretionNet`	$2.77K	USD	1 Quarter
Depreciation and amortization of property and equipment	`DepreciationAmortizationAndAccretionNet`	$3.53K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.15K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.05K	USD	1 Quarter
Other operating expenses	`OtherNonoperatingExpense`	$300.32K	USD	1 Quarter
Other operating expenses	`OtherNonoperatingExpense`	$53.22K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$754.16K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$587.20K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-578.93K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-438.57K	USD	1 Quarter
Interest expense, net	`InterestRevenueExpenseNet`	$-105.00	USD	1 Quarter
Interest expense, net	`InterestRevenueExpenseNet`	$-13.00	USD	1 Quarter
Total Other Income (Expenses)	`OtherNonoperatingIncomeExpense`	$-105.00	USD	1 Quarter
Total Other Income (Expenses)	`OtherNonoperatingIncomeExpense`	$-13.00	USD	1 Quarter
Loss before Provision for Income Tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-438.68K	USD	1 Quarter
Loss before Provision for Income Tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-578.95K	USD	1 Quarter
Provision for Income Tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-578.95K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-438.68K	USD	1 Quarter
Net loss per share basic and diluted	`EarningPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per share basic and diluted	`EarningPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	118.18M	shares	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	118.13M	shares	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-578.95K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-438.68K	USD	1 Quarter
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossBeforeTax`	$70.41K	USD	1 Quarter
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossBeforeTax`	$-49.98K	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-368.26K	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-628.92K	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$578.95K	USD	1 Quarter
Net loss	`ProfitLoss`	$438.68K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.58K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.93K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$47.08K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$37.97K	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$293.73K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$275.41K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-36.83K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-11.45K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$15.80K	USD	1 Quarter
Due from related parties	`IncreaseDecreaseInDueFromRelatedParties`	$-30.14K	USD	1 Quarter
Due from related parties	`IncreaseDecreaseInDueFromRelatedParties`	$-78.83K	USD	1 Quarter
Lease security deposit	`IncreaseDecreaseInLeaseSecurityDeposits`	$-90.48K	USD	1 Quarter
Lease security deposit	`IncreaseDecreaseInLeaseSecurityDeposits`	$59.48K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-101.17K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$118.88K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	-	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-11.03K	USD	1 Quarter
Advances from prospective customers/distributors	`AdvancesFromProspectiveCustomersDistributors`	$-37.05K	USD	1 Quarter
Advances from prospective customers/distributors	`AdvancesFromProspectiveCustomersDistributors`	$1.02K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$151.60K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$310.80K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$50.97K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.00M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.61K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$451.56K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-451.56K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.61K	USD	1 Quarter
Capital Contributions to Yubo Beijing	`ProceedsFromContributedCapital`	$127.16K	USD	1 Quarter
Capital Contributions to Yubo Beijing	`ProceedsFromContributedCapital`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$127.16K	USD	1 Quarter
Effect of exchange rate changes	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-58.44K	USD	1 Quarter
Effect of exchange rate changes	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$70.76K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-17.08K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.26M	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$126.31K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.52K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.38M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.44K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$126.31K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.52K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.38M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.44K	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter
Operating lease right of use asset acquired	`OperatingLeaseRightOfUseAssetAquired`	$1.93M	USD	1 Quarter
Operating lease right of use asset acquired	`OperatingLeaseRightOfUseAssetAquired`	-	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$1.17M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-760.12K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-131.20K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$926.52K	USD	Point-in-time
Capital contirubtions to Yubo Beijing	`CapitalContirubtionToYuboBeijing`	$127.16K	USD	1 Quarter
Reverse acquisition of Yubo International Biotech Limited by Platinum International Biotech Co. Ltd., amount	`ReverseAcquisitionOfYuboInternationalBiotechLimitedByPlatinumInternationalBiotechCoLtdAmount`	-	USD	1 Quarter
Net loss for the three months ended March 31	`NetIncomeLoss`	$-438.68K	USD	1 Quarter
Net loss for the three months ended March 31	`NetIncomeLoss`	$-578.95K	USD	1 Quarter
Foreign currency adjustment	`ForeignCurrencyAdjustment`	$70.41K	USD	1 Quarter
Foreign currency adjustment	`ForeignCurrencyAdjustment`	$-49.98K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$1.17M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-760.12K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-131.20K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$926.52K	USD	Point-in-time

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