Mon, May 20, 8:53 PM (425 days ago)
Yong Bai Chao New Retail Corporation reported no revenue or cash flow for the quarter ended March 31, 2024. The company incurred a net loss of $17,833, a slight improvement from the $25,000 loss in the same period the previous year. Operating expenses decreased primarily due to lower audit fees. The company’s balance sheet shows total liabilities of $124,492, up from $106,659 at year-end 2023, with no assets. The accumulated deficit increased to $3,693,541. The company remains a shell with no substantial operations, focusing on identifying a profitable business acquisition. Given the lack of revenue and significant liabilities, there is substantial doubt about the company's ability to continue as a going concern. Management plans to fund ongoing operations through equity sales and shareholder advances.