10-Q - Yong Bai Chao New Retail Corp (0001284454) (Filer)
Tue, Nov 19, 5:42 PM (90 days ago)
Yong Bai Chao New Retail Corporation (ticker: YBCN) reported no revenue for Q3 2024, consistent with the prior year. Operating expenses decreased to $7,653 from $9,970, primarily due to reduced stock transfer and filing fees. The net loss for Q3 2024 was $7,653, a 23.24% decrease from $9,970 in Q3 2023. For the nine months ending September 30, 2024, total operating expenses were $34,889, down 35.11% from $53,767 in the same period last year, with a net loss of $34,889 compared to $53,767 previously. As of September 30, 2024, the company had no cash, total liabilities of $141,548, and a working capital deficit of $141,548, raising doubts about its ability to continue as a going concern. Management aims to identify a profitable business to acquire to improve operations. The company is currently classified as a shell entity with minimal liabilities and no substantial operations. Future operations depend heavily on securing additional capital resources, which may lead to shareholder dilution.