Thu, Apr 10, 10:02 AM (16 days ago)
**Yong Bai Chao New Retail Corporation (YBCN)** is a Nevada-based company with no meaningful operations or subsidiaries. The company is currently seeking new business opportunities through acquisitions or mergers. Here's a concise summary of its financial performance, strategic overview, and other key aspects: **Financial Performance (in thousands):** - **Revenue:** $0 for both 2024 and 2023. - **Net Income:** Net loss of $39,794 in 2024 and $62,017 in 2023. - **Operating Expenses:** $39,794 in 2024 and $62,017 in 2023, primarily consisting of accounting, legal, and filing fees. - **Earnings per Share (EPS):** Negative $0.00 for both years. - **Cash Flow:** No cash flow from operating activities in 2024. The company has a working capital deficit of $146,453 and no cash as of December 31, 2024. **Financial Condition:** - The company has minimal liabilities and no substantial business operations. - It relies on equity sales and shareholder advances to fund operations. - The company's auditor has expressed substantial doubt about its ability to continue as a going concern. **Strategic Overview:** - YBCN is a blank check and shell company, seeking a business combination with an operating or development-stage company. - The company has broad discretion in identifying and selecting a prospective business opportunity. - It may enter into a business transaction with a financially unstable company or a foreign entity. **Future Outlook:** - The company's success depends on its ability to identify and consummate a business transaction. - It faces intense competition from other entities seeking similar opportunities. - The company's lack of diversification and financial resources may negatively impact its ability to consummate an attractive transaction. **Risk Factors:** - The company's status as a blank check and shell company impacts its ability to raise capital and attract investors. - It faces risks associated with foreign operations and the use of variable interest entities (VIEs). - The company's lack of diversification and financial resources may negatively impact its ability to consummate an attractive transaction. **Market Position Changes:** - The company's shares are quoted on the OTC Markets under the symbol "YBCN." - The company's shares are considered penny stocks, which may limit trading activity and make it more difficult to sell shares. - The company's shares may be prohibited from trading on a national exchange or over-the-counter markets under the Holding Foreign Companies Accountable Act. **Management and Governance:** - The company has one executive officer who is not obligated to devote any specific number of hours to its matters. - The company's board of directors has not established any committees, including an audit committee. - The company has not adopted a code of ethics or established a process for identifying and evaluating director nominees. **Shareholder Matters:** - As of April 7, 2025, the company had 189,120,068 shares of common stock outstanding. - The company has never declared or paid cash dividends on its capital stock. - The company's principal shareholder and former CEO, Fei Wang, owns 80,000,000 shares, representing 42.30% of the outstanding shares.