SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 31, 2020

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of consolidated financial statements

Name	Background	Ownership
Yubo International Biotech Limited (“Yubo New York”)	·     A holding company ·     Incorporated in New York
Platinum International Biotech Co. LTD (“Platinum”)	·     A Cayman Island company ·     Incorporated on April 7, 2020 ·     A holding company	100% owned by Yubo New York
Platinum International Biotech (Hong Kong) Limited.  (“Platinum HK”)	·     A Hong Kong company ·     Incorporated on May 4, 2020 ·     A holding company	100% owned by Platinum
Yubo International Biotech (Chengdu) Limited (“Yubo Chengdu”)	·     A PRC company and deemed a wholly foreign owned enterprise ·     Incorporated on September 4, 2020 ·     Subscribed capital of $1,500,000 ·     A holding company	100% owned by Platinum HK
Yubo International Biotech (Beijing) Limited (“Yubo Beijing”)	·     A PRC limited liability company ·     Incorporated on June 14, 2016 ·     Subscribed capital of $1,531,722 (RMB 10,000,000) ·     Stem cell storage and bank	VIE of Yubo Chengdu WFOE
Yubo Jingzhi Biotechnology (ChengDu) Co. Ltd. (“Yubo Jingzhi”)	·     A PRC company incorporated on January 21, 2021	100% owned by Yubo Beijing
Yubo Global Biotechnology (Chengdu) Co. Ltd (“Yubo Global)	·     A PRC company incorporated on December 20, 2020	100% owned by Platinum HK

Name	Background		Ownership
Platinum International Biotech Co. LTD (“Platinum”)	· · ·	A Cayman Island company Incorporated on April 7, 2020 A holding company
Platinum International Biotech (Hong Kong) Limited.  (“Platinum HK”)	· · ·	A Hong Kong company Incorporated on May 4, 2020 A holding company	100% owned by Platinum
Yubo International Biotech (Chengdu) Limited (“Yubo Chengdu”)	· · · ·	A PRC company and deemed a wholly foreign owned enterprise Incorporated on September 4, 2020 Subscribed capital of $1,500,000 A holding company	100% owned by Platinum HK
Yubo International Biotech (Beijing) Limited (“Yubo Beijing”)	· · · ·	A PRC limited liability company Incorporated on June 14, 2016 Subscribed capital of $1,531,722 (RMB 10,000,000) Stem cell storage and bank	VIE of Yubo Chengdu WFOE

Schedule of basis of presentation

Name	Periods
Platinum	April 7, 2020 (Inception) – December 31, 2020
Platinum HK	May 4, 2020 (Inception) – December 31, 2020
Yubo Chengdu	September 4, 2020 (Inception) – December 31, 2020
Yubo Beijing	January 1, 2019 – December 31, 2020

Schedule of assets and liabilities

	September 30, 2021		December 31,  2020
Cash	$	45,376	$	746,613
Receivables		202,726		2,316
Prepaid Expenses		189,087		27,160
Inventory		294,572		67,144
Due from related parties		395,526		429,648
Property and equipment (net)		68,664		79,153
Intangible assets (net)		40,346		54,912
Operating lease right of use assets		309,329		315,207
Lease security deposits		79,393		86,811
Investment in Yubo Jingzhi (A)		87,844		-
Receivables from other consolidating entities (A)		283,217		-
Total assets		1,919,309		1,808,964
Accounts payable and accrued expense		44,818		101,175
Customer deposits		-		11,028
Advances from prospective customers/distributors		747,449		757,896
Due to related parties		326,667		91,951
Operating lease liabilities		79,393		315,207
Payables to other consolidating entities (A)		503,876		-
Total liabilities		1,702,203		1,277,257
Shareholders’ equity	$	217,106	$	531,707

Schedule of leasehold improvements

Leasehold improvements	Remaining term  of lease
Air conditioning equipment	5 years
Office equipment	3 years

Leasehold improvements	Remaining term of lease
Air conditioning equipment	5 years
Office equipment	3 years

Schedule of intangible assets

Distribution software	5 years
Patents	20 years

Distribution software	5 years
Patents	20 years