SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of consolidated financial statements reflect the activities

Name	Background	Ownership
Yubo International Biotech Limited (“Yubo New York”)	·      A New York Corporation ·      Incorporated on February 22, 1991 ·      A holding company
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 $1,454,038 (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)

	September 30, 2023			December 31, 2022
Cash	$	912		$	3,922
Receivables (net)		—			624
Prepaid Expenses		145,240			52,804
Inventory		209,746			322,173
Due from related parties		277,432			293,434
Property and equipment (net)		17,901			14,766
Intangible assets (net)		55,584			67,679
Operating lease right of use asset		259,689			499,161
Lease security deposit		81,209			85,372
Investment in Yubo Jingzhi (A)		205,537			217,391
Receivables from other consolidated entities (A)		353,611			337,790
Total assets		1,606,861			1,895,116
Accounts payable and accrued expenses		253,914			276,325
Advances from prospective customers/distributors		422,005			459,970
Due to related parties		1,441,101			1,057,052
Operating lease liabilities		259,689			499,161
Payables to other consolidated entities (A)		412,579			437,826
Total liabilities		2,789,288			2,730,334
Shareholders’ equity	$	(1,182,427	)	$	(835,218	)

Schedule 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