SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of owned subsidiary

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

Schedule of assets and liabilities of Yubo Beijing (VIE)

	March 31, 2022			December 31, 2021
Cash	$	2,569		$	8,812
Receivables (net)		154,703			158,807
Prepaid Expenses		170,722			207,521
Inventory		152,850			164,302
Due from related parties		318,764			397,590
Property and equipment (net)		56,349			63,055
Intangible assets (net)		36,762			38,876
Operating lease right of use assets		713,825			582,322
Lease security deposits		92,741			152,219
Investment in Yubo Jingzhi (A)		236,157			236,220
Receivables from other consolidated entities (A)		345,852			287,677
Total assets		2,281,294			2,297,401
Accounts payable and accrued expense		35,158			69,746
Advances from prospective customers/distributors		483,932			484,956
Due to related parties		843,013			532,121
Operating lease liabilities		713,825			582,322
Payables to other consolidated entities (A)		511,674			511,811
Total liabilities		2,587,602			2,180,956
Shareholders’ equity	$	(306,308	)	$	116,445

Schedule for remaining term of lease of property and equipment

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

Schedule of amortization period of intangible assets

Distribution software	5 years
Patents	20 years