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ORGANIZATION AND DESCRIPTION OF BUSINESS (Tables)
9 Months Ended
Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
SCHEDULE OF PROCEEDS FROM MERGER

      
Cash—Pono working capital cash  $766,735 
Cash—Pono trust   16,731,409 
Less: transaction costs and advisory fees   5,790,727 
Net proceeds from Pono Merger  $11,707,417 
SCHEDULE OF MAJOR SUBSIDIARIES

As of September 30, 2024, the Company’s major subsidiaries and VIE are as follows:

 

Name  Place of
Incorporation
  Date of
Incorporation or
Acquisition
  Percentage of
Ownership
   Principal Activities
SBC Medical Group, Inc.  United States  January 20, 2023   100%   Investment holding
SBC Medical Group Co., Ltd.  Japan  September 29, 2017   100%   Franchising, procurement and management services for the medical corporations
L’Ange Cosmetique Co., Ltd.  Japan  June 18, 2003   100%   Management and rental services for the medical corporations
Shobikai Co., Ltd.  Japan  June 4, 2014   100%   Procurement, management and rental services for the medical corporations

 

 

SBC MEDICAL GROUP HOLDINGS INCORPORATED
NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

 

NOTE 1 — ORGANIZATION AND DESCRIPTION OF BUSINESS (cont.)

 

Name  Place of
Incorporation
  Date of
Incorporation or
Acquisition
  Percentage of
Ownership
   Principal Activities
Liesta Co., Ltd.  Japan  December 15, 2020   100%   Real estate brokerage services
Skynet Academy Co., Ltd.  Japan  April 1, 2022   78%   Pilot training services
SBC Sealane Co., Ltd.  Japan  June 7, 2022   100%   Construction services
SBC Marketing Co., Ltd.  Japan  June 30, 2022   100%   Internet marketing services
Medical Payment Co., Ltd.  Japan  June 30, 2022   75%   Loan services
SBC Medical Consulting Co., Ltd.  Japan  August 2, 2022   100%   Human resource services
Shoubikai Medical Vietnam Co., Ltd.  Vietnam  August 29, 2013   100%   Cosmetic clinic
SBC Healthcare Inc.  United States  December 16, 2019   100%   Management services for cosmetic clinic in the United States
SBC Irvine, LLC*  United States  December 27, 2018   100%   Management services for cosmetic clinic in the United States
Kijimadairakanko Inc.  Japan  April 3, 2023   100%   Ski resorts and tourism services
Aikawa Medical Management, Inc.  United States  May 10, 2017   VIE   Management services for cosmetic clinic in the United States

 

* A subsidiary of SBC Healthcare Inc.