Yong Bai Chao New Retail (YBCN) 10-K 31 Mar 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 28, 2022	Jun. 30, 2021
Cover [Abstract]
Entity Registrant Name	YONG BAI CHAO NEW RETAIL CORPORATION
Entity Central Index Key	0001284454
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Dec. 31, 2021
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Entity Common Stock Shares Outstanding		135,569,068
Entity Public Float			$ 1,500,364
Document Annual Report	true
Document Transition Report	false
Entity File Number	000-56129
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	20-3626387
Entity Interactive Data Current	Yes
Entity Address Address Line 1	3209, South Building
Entity Address Address Line 2	Building 3, No. 39 Hulan
Entity Address Address Line 3	West Road, Boashan District
Entity Address City Or Town	Shanghai
Auditor Firm Id	5041
City Area Code	186
Local Phone Number	21601569
Auditor Name	BF Borgers CPA PC
Auditor Location	Lakewood, CO

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Dec. 31, 2021	Dec. 31, 2020
CURRENT ASSETS
Cash	$ 0	$ 0
TOTAL CURRENT ASSETS	0	0
TOTAL ASSETS	0	0
CURRENT LIABILITIES
Accounts payable and accrued liabilities	2,431	53,118
Accounts payable and accrued liabilities - related parties	252,341	227,339
Due to related party	13,716	0
Convertible Debentures	0	50,000
Convertible Debentures - Related Parties	250,000	250,000
TOTAL CURRENT LIABILITIES	518,488	580,457
STOCKHOLDER'S EQUITY
Preferred stock ($.001 par value; 10,000,000 shares authorized; 0 share issued and outstanding at December 31, 2021 and December 31, 2020)	0	0
Common stock ($0.001 par value; 180,000,000 shares authorized; 135,569,068 and 105,569,068 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively)	141,945	111,945
Common Stock to be Issued	2,282	2,282
Treasury Stock	375	0
Additional Paid in Capital	2,854,388	2,071,913
Accumulated deficit	(3,517,478)	(2,766,597)
TOTAL STOCKHOLDERS' DEFICIT	(518,488)	(580,457)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 0	$ 0

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
CONDENSED BALANCE SHEETS
Common stock, shares par value	$ 0.001	$ 0.001
Common stock shares authorized	180,000,000	180,000,000
Common stock shares issued	135,569,068	105,569,068
Common stock shares outstanding	135,569,068	105,569,068
Preferred stock, shares par value	$ 0.001	$ 0.001
Preferred stock shares authorized	10,000,000	10,000,000
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CONDENSED STATEMENTS OF OPERATIONS
Revenue	$ 0	$ 0
Operating Expenses:
Consulting fees	753,000	0
Professional fees	24,931	23,375
Other general and administrative	1,066	2,457
Total Operating Expenses	778,997	25,832
Loss from Operations	(778,997)	(25,832)
Other Income (Expense):
Gain on extinguishment of debt and related interest	54,368	378,527
Interest expense	(26,252)	(63,928)
Total Other Income (Expense)	28,116	314,599
Income (Loss) Before Income Taxes	(750,881)	288,767
Income Taxes	0	0
Net Income (Loss)	$ (750,881)	$ 288,767
Net income (loss) per common share:
Net income (loss) per common share Basic	$ (0.01)	$ 0
Net income (loss) per common share Diluted	$ (0.01)	$ 0
Weighted average number of common shares outstanding:
Weighted average number of common shares outstanding Basic	128,171,808	105,569,068
Weighted average number of common shares outstanding Diluted	128,171,808	105,569,068

CONDENSED STATEMENT OF CHANGES

CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS DEFICIT - USD ($)	Total	Preferred Stock	Common Stock	Common Stock To Be Issued	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Treasury Stock
Balance, shares at Dec. 31, 2019			105,569,068
Balance, amount at Dec. 31, 2019	$ (1,341,282)	$ 0	$ 111,945	$ 2,282	$ 1,599,855	$ (3,055,364)
Contributions to pay expenses	25,832	0	0	0	25,832	0
Write off debts	446,226	0	$ 0	0	446,226	0
Net income/(loss)	288,767					288,767
Conversion of related party payable to equity	0
Balance, shares at Dec. 31, 2020			105,569,068
Balance, amount at Dec. 31, 2020	(580,457)	0	$ 111,945	2,282	2,071,913	(2,766,597)	$ 0
Write off debts	50,000	0	0	0	50,000	0	0
Net income/(loss)	(750,881)	0	$ 0		0	(750,881)	0
Common stock issued for services, shares			30,000,000
Common stock issued for services, amount	753,000	0	$ 30,000	0	723,000	0	$ 0
Treasury Stock, shares							375,000
Treasury Stock, amount	0	0	0	0	(375)	0	$ 375
Conversion of related party payable to equity	9,850	0	$ 0	0	9,850	0	$ 0
Balance, shares at Dec. 31, 2021			135,569,068				375,000
Balance, amount at Dec. 31, 2021	$ (518,488)	$ 0	$ 141,945	$ 2,282	$ 2,854,388	$ (3,517,478)	$ 375

CONDENSED STATEMENT OF CASH FLO

CONDENSED STATEMENT OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (750,881)	$ 288,767
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based service fees	753,000	0
Write off of Accrued Interest on Extinguished Debt	(54,368)	(378,527)
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	(50,687)	0
Accounts payable and accrued liabilities - related parties	79,370	0
Due to related party	23,566	63,928
NET CASH USED IN OPERATING ACTIVITIES	0	(25,832)
CASH FLOWS TO/(FROM) FINANCING ACTIVITIES
Contributions of Capital	0	25,832
NET CASH PROVIDED BY/(USED IN) FINANCING ACTIVITES	0	25,832
NET INCREASE IN CASH	0	0
Cash, beginning of period	0	0
Cash, end of period	0	0
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	0	0
Cash paid for income tax	0	0
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Conversion of related party payable to equity	$ 9,850	$ 0

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and Description of Business Yong Bai Chao New Retail Corporation (“we”, “us”, or the “Company”) (formerly knowns as Boss Minerals, Inc. and Environmental Control Corp., respectively) was organized under the laws of the State of Nevada on February 17, 2004. The Company’s fiscal year end is December 31 st Currently, the Company only possesses minimal assets and liabilities with no substantial business operations. There were no significant revenues or positive cash flows for the years ended December 31, 2021. The Company’s management efforts are focused on seeking out a new and profitable operating business with strong growth potential. Unless and until the Company’s successful acquisition of an operating business, we expect our expenses to consist of legal fees, accounting fees, and administrative costs related to maintaining a public company. Basis of Presentation The accompanying unaudited condensed financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The interim unaudited condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission from the accounts of the Company without audit. The condensed balance sheet at December 31, 2021 was derived from audited financial statements but may not include all disclosures required by accounting principles generally accepted in the United States of America. The other information in these condensed financial statements is unaudited; however, in the opinion of management, the information presented reflects all adjustments of a normal recurring nature which are necessary to present fairly the Company’s financial position and results of operations and cash flows for the period presented. It is recommended that these condensed financial statements be read in conjunction with the financial statements and the notes thereto included in the Company’s year 2021 Annual Report on Form 10-K and other financial reports filed by the Company from time to time. Cash and Cash Equivalents The Company considers all highly liquid short-term investments with a maturity of three months or less at time of purchase to be cash equivalents. There were no cash equivalents as of December 31, 2021 and December 31, 2020. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Significant estimates during the years ended December 31, 2021 and 2020 include valuation of deferred tax assets and the associated valuation allowances, and valuation of stock-based compensation. Income Taxes Income taxes are provided in accordance with Accounting Standards Codification (“ASC”) 740 Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Per Share Data ASC Topic 260, Earnings per Share, requires presentation of both basic and diluted earnings per share (“EPS”) with a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. Basic EPS excludes dilution. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. Basic net earnings per share are computed by dividing net earnings available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted net earnings per share is computed by dividing net earnings applicable to common stockholders by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. Diluted earnings per share reflects the potential dilution that could occur if securities were exercised or converted into common stock or other contracts to issue common stock resulting in the issuance of common stock that would then share in the Company’s earnings subject to anti-dilution limitations. In a period in which the Company has a net loss, all potentially dilutive securities are excluded from the computation of diluted shares outstanding as they would have an anti-dilutive impact. For the years ended December 31, 2021 and 2020, potentially dilutive common shares consist of common stock issuable upon the conversion of convertible debentures (using the if-converted method). The following is a reconciliation of the basic and diluted net income (loss) per share computations for the years ended December 31, 2021 and 2020: Basic net income (loss) per share Year Ended December 31, 2021 Year Ended December 31, 2020 Net income (loss) available to common stockholders for basic net income (loss) per share of common stock) $ (750,881 ) $ 288,767 Weighted average common stock outstanding - basic 121,171,808 105,569,068 Net income (loss) per share: Basic $ (0.01 ) $ 0.00 Diluted net income (loss) per share Year Ended December 31, 2021 Year Ended December 31, 2020 Net income (loss) available to common stockholders for basic net income (loss) per share of common stock $ (750,881 ) $ 288,757 Add: interest expense for convertible debentures - - Net income (loss) available to common stockholders for diluted net income (loss) per share of common stock $ (750,881 ) $ 288,757 Weighted average common stock outstanding - basic 125,678,958 105,569,068 Effect of dilutive securities: Convertible debentures - - Weighted average common stock outstanding - diluted 125,678,958 105,569,068 Net income (loss) per share: Diluted $ (0.01 ) $ 0.00 The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the accompanying unaudited condensed interim financial statements, primarily due to their short-term nature. Stock-based Compensation The Company accounts for its stock-based compensation awards in accordance with ASC Topic 718, Compensation—Stock Compensation (“ASC 718”). ASC 718 requires all stock-based payments to employees and non-employees to be recognized as expense in the statements of operations based on their grant date fair values. The Company issued common stock to consultants for services in April 2021. Costs of these transactions are measured at the fair value of the service received or the fair value of the equity instrument issued, whichever is more reliably measurable. The value of the common stock is measured at the earlier of (i) the date at which a firm commitment for performance by the counterparty to earn the equity instrument is reached or (ii) the date at which the counterparty’s performance is complete. Concentration of Credit Risk There are no financial instruments that potentially subject the Company to concentration of credit risk. The Company has not experienced losses and management believes the Company is not exposed to significant credit risks. Going Concern Risk As reflected in the accompanying unaudited condensed financial statements, the Company had working capital deficit of $518,488 at December 31, 2021 and has incurred recurring net loss of $750,881 for the years ended December 31, 2021. The Company has no current operating activities. These factors raise substantial doubt about the Company’s ability to continue as a going concern for at least next twelve months from the date the Company’s interim financial statements are released. Management intends to fund the ongoing operations of the Company while seeking potential business acquisition opportunities. Recent Accounting Pronouncements Accounting standards that have been issued or proposed by Financial Accounting Standards Board (“FASB”) that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its financial condition, results of operations, cash flows or disclosures.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2021
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 2 - RELATED PARTY TRANSACTIONS Convertible Debentures Issued to Related Parties and Accrued Interest On July 15, 2010, the Company entered into a convertible debenture agreement with a company controlled by the former President of the Company. The Company received $50,000 which is due five years from the advancement date. The loan is interest free for the first year, after which it bears interest at a rate of 10% per annum. The accrued interest is payable annually on the anniversaries of the advancement date, commencing on the second anniversary. Any portion of the loan and unpaid interest are convertible at any time at the option of the lender into shares of common stock of the Company at a conversion price of $0.35 per share. The Company recognized the intrinsic value of the embedded beneficial conversion feature of $7,143 as additional paid-in capital and reduced the carrying value of the convertible debenture to $42,857. The carrying value had been accreted over the term of the convertible debenture up to its face value of $50,000. The Company can repay any portion of the loan and accrued interest at any time without penalty. On November 30, 2010, the Company entered into a convertible debenture agreement with a company controlled by the former President of the Company. The Company received $50,000 which is due five years from the advancement date. The loan is interest free for the first year, after which it bears interest at a rate of 10% per annum. The accrued interest is payable annually on the anniversaries of the advancement date, commencing on the second anniversary. Any portion of the loan and unpaid interest are convertible at any time at the option of the lender into shares of common stock of the Company at a conversion price of $0.35 per share. The Company recognized the intrinsic value of the embedded beneficial conversion feature of $21,429 as additional paid-in capital and reduced the carrying value of the convertible debenture to $28,571. The carrying value has been accreted over the term of the convertible debenture up to its face value of $50,000. The Company can repay any portion of the loan and accrued interest at any time without penalty. On April 21, 2011, the Company entered into a convertible debenture agreement with a company controlled by the former President of the Company. The Company received $50,000 which is due five years from the advancement date. The loan is interest free for the first year, after which it bears interest at a rate of 10% per annum. The accrued interest is payable annually on the anniversaries of the advancement date, commencing on the second anniversary. The loan is secured by a patent held by the Company. Any portion of the loan and unpaid interest are convertible at any time at the option of the lender into shares of common stock of the Company at a conversion price of $0.035 per share. The Company recognized the intrinsic value of the embedded beneficial conversion feature of $28,571 as additional paid-in capital and reduced the carrying value of the convertible debenture to $21,429. The carrying value has been accreted over the term of the convertible debenture up to its face value of $50,000. The Company can repay any portion of the loan and accrued interest at any time without penalty. On August 29, 2011, the Company entered into a convertible debenture agreement with a company controlled by a former Vice President of the Company. The Company received $100,000 which is due five years from the advancement date. The loan is interest free for the first year, after which it bears interest at a rate of 10% per annum. The accrued interest is payable annually on the anniversaries of the advancement date, commencing on the second anniversary. Any portion of the loan and unpaid interest are convertible at any time at the option of the lender into shares of common stock of the Company at a conversion price of $0.025 per share. The Company can repay any portion of the loan and accrued interest at any time without penalty. As of December 31, 2021, and December 31, 2020, the related accrued and unpaid interest for these related party loans was $302,341 and $227,339, respectively, and has been included in accounts payable and accrued liabilities – related parties on the accompanying condensed balance sheets. Due to Related Party During the first half of 2021, the Company’s former CEO, Lili Xin, paid certain expenses on behalf of the Company. As of June 30, 2021, the Company had a payable to Ms. Xin of $9,850. The amount of $9,850 was converted into equity on June 30, 2021.

CONVERTIBLE DEBENTURE

CONVERTIBLE DEBENTURE	12 Months Ended
	Dec. 31, 2021
CONVERTIBLE DEBENTURE	NOTE 3 - CONVERTIBLE DEBENTURE On May 18, 2010, the Company entered into a convertible loan agreement. The Company received $50,000 which bore interest at 10% per annum and was due five years from the advancement date. Interest was accrued from the advancement date and was payable on the fifth anniversary of the advancement date. Any portion of the loan and unpaid interest were convertible at any time at the option of the lender into shares of common stock of the Company at a conversion price of $0.035 per share. The Company recognized the intrinsic value of the embedded beneficial conversion feature of $21,429 as additional paid-in capital and reduced the carrying value of the convertible debenture to $28,571. The carrying value had been accreted over the term of the convertible debenture up to its face value of $50,000. This loan and related accrued interest were written off on March 31, 2021 (see Note 4 below).

WRITE-OFF OF PAYABLES RELATED P

WRITE-OFF OF PAYABLES RELATED PARTY TRANSACTIONS AND ACCRUED INTEREST OCCURING PRIOR TO THE COMPANY ABANDONMENT	12 Months Ended
	Dec. 31, 2021
WRITE-OFF OF PAYABLES RELATED PARTY TRANSACTIONS AND ACCRUED INTEREST OCCURING PRIOR TO THE COMPANY ABANDONMENT
WRITE-OFF OF PAYABLES, RELATED PARTY TRANSACTIONS AND ACCRUED INTEREST OCCURING PRIOR TO THE COMPANY ABANDONMENT	NOTE 4 - WRITE-OFF OF PAYABLES, RELATED PARTY TRANSACTIONS AND ACCRUED INTEREST OCCURING PRIOR TO THE COMPANY ABANDONMENT All of the Liabilities existed as of the June 2012 10-Q. With respect to Liabilities that represent amounts owed pursuant to written instruments, as stated in the notes to the financial statements included in the June 2012 10-Q, each of such Liabilities were required to be paid five years from the date on which the debt was created. The last such Liability evidenced by a written instrument was created on December 31, 2009 and said debt matured, by the terms of the written instrument, on December 31, 2014. Pursuant to NRS 11.010(2), which provides that an action for collection “upon a contract, obligation or liability founded upon an instrument in writing, except those mentioned in the preceding sections of this chapter” must be commenced within six years of the date of the written instrument. None of the Liabilities evidenced by a written instrument is subject to any of the exceptions described in Chapter 11 of the Nevada Revised Statutes. The accounts payable and accrued liabilities comprising the Liabilities do not have a maturity date and are subject to NRS 11.010(1) which provides that an action for collection “upon a contract, obligation or liability not founded upon an instrument in writing” must be commenced within four years of the date on which the debt was incurred. Given the foregoing, the following existing liabilities would be time barred by the statute of limitations: Nature of Liability Amount Date Created Written Instrument Maturity Date Date on which Statute of Limitations Expired Convertible Debt – Principal and Accrued Interest $ 81,575 7/30/08 Yes 7/30/08 7/30/19 Convertible Debt – Principal and Accrued Interest 111,061 10/16/08 Yes 10/16/08 10/16/19 Convertible Debt – Principal and Accrued Interest 420,275 4/9/09 Yes 4/9/09 4/9/20 Related Party Loan 25,000 12/9/08 No 12/9/08 12/9/12 Related Party Loan 25,000 9/5/08 Yes 9/5/08 9/5/19 Convertible Debt – Principal and Accrued Interest 104,911 12/31/09 Yes 12/31/09 12/31/20 Payment of Expenses 1,501 12/9/08 Yes 12/9/08 12/9/19 Accounts payable 53,804 Prior to 6/30/12 No None 6/30/16 Accrued liabilities 1,625 Prior to 6/30/12 No None 6/30/16 Total $ 824,752 Therefore, the Company made the decision to write-off the Related Party Loans, Accrued Interest and Other Payables totaling $824,752. As of December 31, 2020, the Principal amount of the Debts totaling $446,225 were written off against Additional Paid in Capital —per ASC Section 470-50-40. ASC Section 470-50-40 (Debt Modification and Extinguishments), considers Related Party Transactions to be capital transactions and the extinguishment of the debt is in effect a capital transaction and it is not a gain or loss recognition event and should be excluded from the determination of net income. The related Accrued Interest totaling $378,527 resulted in a Gain on Extinguishment of Debt which has been reported on the Statement of Operations for the year ended December 31, 2020. In addition to the above, the following existing liabilities are now also considered time barred by the statute of limitations: Nature of Liability Amount Date Created Written Instrument Maturity Date Date on which Statute of Limitations Expired Convertible Debt – Principal and Accrued Interest $ 104,368 5/18/2010 Yes 5/18/2010 5/18/2021 Therefore, the Company made the decision to write-off the Related Party Loans, Accrued Interest and Other Payables totaling $104,368 on March 31, 2021. On March 31, 2021, the Principal amount of the Debts totaling $50,000 was written off against Additional Paid in Capital —per ASC Section 470-50-40. ASC Section 470-50-40 (Debt Modification and Extinguishments), considers Related Party Transactions to be capital transactions and the extinguishment of the debt is in effect a capital transaction and it is not a gain or loss recognition event and should be excluded from the determination of net income. The related Accrued Interest totaling $54,368 resulted in a Gain on Extinguishment of Debt which has been reported on the Statement of Operations.

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
	Dec. 31, 2021
CAPITAL STOCK
CAPITAL STOCK	NOTE 5 - CAPITAL STOCK Common Shares Issued for Services During the years ended December 31, 2021, the Company issued a total of 30,000,000 shares of its common stock for services rendered. These shares were valued at $753,000, the fair market values on the grant dates using the reported closing share prices on the dates of grant, and the Company recorded stock-based consulting fees of $753,000 for the year ended December 31, 2021.

MATERIAL EVENTS

MATERIAL EVENTS	12 Months Ended
	Dec. 31, 2021
MATERIAL EVENTS
MATERIAL EVENTS	NOTE 7 - MATERIAL EVENTS On September 14, 2021, the Company entered into an Acquisition Agreement (the “Acquisition Agreement”) with Yong Bai Chao New Retail (Shenzhen) Co. Ltd. (“YBC”). Pursuant to the terms of the Acquisition Agreement, the Company agreed to acquire all of the issued and outstanding securities of YBC in exchange for 50 million shares of its common stock. The closing of this transaction is subject to certain terms and conditions described in the Acquisition Agreement.

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	The accompanying unaudited condensed financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The interim unaudited condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission from the accounts of the Company without audit. The condensed balance sheet at December 31, 2021 was derived from audited financial statements but may not include all disclosures required by accounting principles generally accepted in the United States of America. The other information in these condensed financial statements is unaudited; however, in the opinion of management, the information presented reflects all adjustments of a normal recurring nature which are necessary to present fairly the Company’s financial position and results of operations and cash flows for the period presented. It is recommended that these condensed financial statements be read in conjunction with the financial statements and the notes thereto included in the Company’s year 2021 Annual Report on Form 10-K and other financial reports filed by the Company from time to time.
Cash and Cash Equivalents	The Company considers all highly liquid short-term investments with a maturity of three months or less at time of purchase to be cash equivalents. There were no cash equivalents as of December 31, 2021 and December 31, 2020.
Management's Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Significant estimates during the years ended December 31, 2021 and 2020 include valuation of deferred tax assets and the associated valuation allowances, and valuation of stock-based compensation.
Net Income per Common Share	ASC Topic 260, Earnings per Share, requires presentation of both basic and diluted earnings per share (“EPS”) with a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. Basic EPS excludes dilution. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. Basic net earnings per share are computed by dividing net earnings available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted net earnings per share is computed by dividing net earnings applicable to common stockholders by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. Diluted earnings per share reflects the potential dilution that could occur if securities were exercised or converted into common stock or other contracts to issue common stock resulting in the issuance of common stock that would then share in the Company’s earnings subject to anti-dilution limitations. In a period in which the Company has a net loss, all potentially dilutive securities are excluded from the computation of diluted shares outstanding as they would have an anti-dilutive impact. For the years ended December 31, 2021 and 2020, potentially dilutive common shares consist of common stock issuable upon the conversion of convertible debentures (using the if-converted method). The following is a reconciliation of the basic and diluted net income (loss) per share computations for the years ended December 31, 2021 and 2020: Basic net income (loss) per share Year Ended December 31, 2021 Year Ended December 31, 2020 Net income (loss) available to common stockholders for basic net income (loss) per share of common stock) $ (750,881 ) $ 288,767 Weighted average common stock outstanding - basic 121,171,808 105,569,068 Net income (loss) per share: Basic $ (0.01 ) $ 0.00 Diluted net income (loss) per share Year Ended December 31, 2021 Year Ended December 31, 2020 Net income (loss) available to common stockholders for basic net income (loss) per share of common stock $ (750,881 ) $ 288,757 Add: interest expense for convertible debentures - - Net income (loss) available to common stockholders for diluted net income (loss) per share of common stock $ (750,881 ) $ 288,757 Weighted average common stock outstanding - basic 125,678,958 105,569,068 Effect of dilutive securities: Convertible debentures - - Weighted average common stock outstanding - diluted 125,678,958 105,569,068 Net income (loss) per share: Diluted $ (0.01 ) $ 0.00 The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the accompanying unaudited condensed interim financial statements, primarily due to their short-term nature.
Stock-Based Compensation	The Company accounts for its stock-based compensation awards in accordance with ASC Topic 718, Compensation—Stock Compensation (“ASC 718”). ASC 718 requires all stock-based payments to employees and non-employees to be recognized as expense in the statements of operations based on their grant date fair values. The Company issued common stock to consultants for services in April 2021. Costs of these transactions are measured at the fair value of the service received or the fair value of the equity instrument issued, whichever is more reliably measurable. The value of the common stock is measured at the earlier of (i) the date at which a firm commitment for performance by the counterparty to earn the equity instrument is reached or (ii) the date at which the counterparty’s performance is complete.
Recently Issued Accounting Pronouncements	Accounting standards that have been issued or proposed by Financial Accounting Standards Board (“FASB”) that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its financial condition, results of operations, cash flows or disclosures.
Income Taxes	Income taxes are provided in accordance with Accounting Standards Codification (“ASC”) 740 Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Going Concern Risk	As reflected in the accompanying unaudited condensed financial statements, the Company had working capital deficit of $518,488 at December 31, 2021 and has incurred recurring net loss of $750,881 for the years ended December 31, 2021. The Company has no current operating activities. These factors raise substantial doubt about the Company’s ability to continue as a going concern for at least next twelve months from the date the Company’s interim financial statements are released. Management intends to fund the ongoing operations of the Company while seeking potential business acquisition opportunities.
Concentration of Credit Risk	There are no financial instruments that potentially subject the Company to concentration of credit risk. The Company has not experienced losses and management believes the Company is not exposed to significant credit risks.

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2021
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basic net income (loss) per share	Year Ended December 31, 2021 Year Ended December 31, 2020 Net income (loss) available to common stockholders for basic net income (loss) per share of common stock) $ (750,881 ) $ 288,767 Weighted average common stock outstanding - basic 121,171,808 105,569,068 Net income (loss) per share: Basic $ (0.01 ) $ 0.00 Year Ended December 31, 2021 Year Ended December 31, 2020 Net income (loss) available to common stockholders for basic net income (loss) per share of common stock $ (750,881 ) $ 288,757 Add: interest expense for convertible debentures - - Net income (loss) available to common stockholders for diluted net income (loss) per share of common stock $ (750,881 ) $ 288,757 Weighted average common stock outstanding - basic 125,678,958 105,569,068 Effect of dilutive securities: Convertible debentures - - Weighted average common stock outstanding - diluted 125,678,958 105,569,068 Net income (loss) per share: Diluted $ (0.01 ) $ 0.00

WRITE-OFF OF PAYABLES RELATED_2

WRITE-OFF OF PAYABLES RELATED PARTY TRANSACTIONS AND ACCRUED INTEREST OCCURING PRIOR TO THE COMPANY ABANDONMENT (Tables)	12 Months Ended
	Dec. 31, 2021
WRITE-OFF OF PAYABLES RELATED PARTY TRANSACTIONS AND ACCRUED INTEREST OCCURING PRIOR TO THE COMPANY ABANDONMENT
Schedule of existing liabilities	Nature of Liability Amount Date Created Written Instrument Maturity Date Date on which Statute of Limitations Expired Convertible Debt – Principal and Accrued Interest $ 81,575 7/30/08 Yes 7/30/08 7/30/19 Convertible Debt – Principal and Accrued Interest 111,061 10/16/08 Yes 10/16/08 10/16/19 Convertible Debt – Principal and Accrued Interest 420,275 4/9/09 Yes 4/9/09 4/9/20 Related Party Loan 25,000 12/9/08 No 12/9/08 12/9/12 Related Party Loan 25,000 9/5/08 Yes 9/5/08 9/5/19 Convertible Debt – Principal and Accrued Interest 104,911 12/31/09 Yes 12/31/09 12/31/20 Payment of Expenses 1,501 12/9/08 Yes 12/9/08 12/9/19 Accounts payable 53,804 Prior to 6/30/12 No None 6/30/16 Accrued liabilities 1,625 Prior to 6/30/12 No None 6/30/16 Total $ 824,752 Nature of Liability Amount Date Created Written Instrument Maturity Date Date on which Statute of Limitations Expired Convertible Debt – Principal and Accrued Interest $ 104,368 5/18/2010 Yes 5/18/2010 5/18/2021

ORGANIZATION AND SUMMARY OF S_4

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Net income (loss) per share: Basic	$ (0.01)	$ 0
Basic net income (loss) per share [Member]
Net income (loss) available to common stockholders for basic net income (loss) per share of common stock	$ (750,881)	$ 288,767
Weighted average common stock outstanding - basic	121,171,808	105,569,068
Net income (loss) per share: Basic	$ (0.01)	$ 0

ORGANIZATION AND SUMMARY OF S_5

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Net income (loss) per share: Diluted	$ (0.01)	$ 0
Diluted net income (loss) per share [Member]
Net income (loss) available to common stockholders for basic net income (loss) per share of common stock	$ (750,881)	$ 288,757
Add: interest expense for convertible debentures	0	0
Net income (loss) available to common stockholders for diluted net income (loss) per share of common stock	$ (750,881)	$ 288,757
Weighted average common stock outstanding - basic	125,678,958	105,569,068
Convertible debentures	$ 0	$ 0
Weighted average common stock outstanding - diluted	125,678,958	105,569,068
Net income (loss) per share: Diluted	$ (0.01)	$ 0

ORGANIZATION AND SUMMARY OF S_6

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	12 Months Ended
	Dec. 31, 2021USD ($)
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)
Working capital deficit	$ (518,488)
Net loss	$ (750,881)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)) - USD ($)	12 Months Ended
	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Due to related party	$ 13,716		$ 0
Converted conversion amount	0		50,000
Due to Related Party [Member]
Due to related party	13,716	$ 9,850
Converted conversion amount		$ 9,850
July 15, 2010 [Member]
Beneficial conversion feature additional paid in capital	7,143
Carrying value of convertible debenture	42,857
Convertible debenture face value	$ 50,000
Conversion price per share	$ 0.35
Convertible debentures descriptions	The Company received $50,000 which is due five years from the advancement date. The loan is interest free for the first year, after which it bears interest at a rate of 10% per annum.
November 30, 2010 [Member]
Beneficial conversion feature additional paid in capital	$ 21,429
Carrying value of convertible debenture	28,571
Convertible debenture face value	$ 50,000
Conversion price per share	$ 0.35
Convertible debentures descriptions	The Company received $50,000 which is due five years from the advancement date. The loan is interest free for the first year, after which it bears interest at a rate of 10% per annum.
April 21, 2011 [Member]
Beneficial conversion feature additional paid in capital	$ 21,429
Carrying value of convertible debenture	28,571
Convertible debenture face value	$ 50,000
Conversion price per share	$ 0.035
Convertible debentures descriptions	The Company received $50,000 which is due five years from the advancement date. The loan is interest free for the first year, after which it bears interest at a rate of 10% per annum.
August 29, 2011 [Member]
Conversion price per share	$ 0.025
Convertible debentures descriptions	The Company received $100,000 which is due five years from the advancement date. The loan is interest free for the first year, after which it bears interest at a rate of 10% per annum.
Related party loans	$ 302,341		$ 227,339

CONVERTIBLE DEBENTURE (Details

CONVERTIBLE DEBENTURE (Details Narrative) - Convertible Loan Agreement [Member]	1 Months Ended
	May 18, 2010USD ($)$ / shares
Proceeds from convertible debenture	$ 50,000
Interest rate	10.00%
Debt term	5 years
Debt instrument, conversion price | $ / shares	$ 0.035
Beneficial conversion feature as additional paid in capital	$ 21,429
Reduced carrying value of convertible debenture	28,571
Face Value of convertible debenture	$ 50,000

WRITEOFF OF PAYABLES RELATED PA

WRITEOFF OF PAYABLES RELATED PARTY TRANSACTIONS AND ACCRUED INTEREST OCCURING PRIOR TO THE COMPANY ABANDONMENT (Details)	12 Months Ended
	Dec. 31, 2021USD ($)
Related Party Loans, Accrued Interest and Other Payables	$ 824,752
Convertible Debt - Principal and Accrued Interest [Member]
Date Created	Jul. 30, 2008
Written Instrument	Yes
Maturity Date	Jul. 30, 2008
Date on which Statute of Limitations Expired	Jul. 30, 2019
Convertible Debt - Principal and Accrued Interest	$ 81,575
Convertible Debt - Principal and Accrued Interest One [Member]
Date Created	Oct. 16, 2008
Written Instrument	Yes
Maturity Date	Oct. 16, 2008
Date on which Statute of Limitations Expired	Oct. 16, 2019
Convertible Debt - Principal and Accrued Interest	$ 111,061
Convertible Debt - Principal and Accrued Interest Two [Member]
Date Created	Apr. 9, 2009
Written Instrument	Yes
Maturity Date	Apr. 9, 2009
Date on which Statute of Limitations Expired	Apr. 9, 2020
Convertible Debt - Principal and Accrued Interest	$ 420,275
Convertible Debt - Principal and Accrued Interest Three [Member]
Date Created	Dec. 31, 2009
Written Instrument	Yes
Maturity Date	Dec. 31, 2009
Date on which Statute of Limitations Expired	Dec. 31, 2020
Convertible Debt - Principal and Accrued Interest	$ 104,911
Convertible Debt - Principal and Accrued Interest Four [Member]
Date Created	May 18, 2010
Written Instrument	Yes
Maturity Date	May 18, 2010
Date on which Statute of Limitations Expired	May 18, 2021
Convertible Debt - Principal and Accrued Interest	$ 104,368
Related Party Loan [Member]
Date Created	Dec. 9, 2008
Written Instrument	No
Maturity Date	Dec. 9, 2008
Date on which Statute of Limitations Expired	Dec. 9, 2012
Related Party Loan	$ 25,000
Related Party Loan One [Member]
Date Created	Sep. 5, 2008
Written Instrument	Yes
Maturity Date	Sep. 5, 2008
Date on which Statute of Limitations Expired	Sep. 5, 2019
Related Party Loan	$ 25,000
Payment of Expenses [Member]
Date Created	Dec. 9, 2008
Written Instrument	Yes
Maturity Date	Dec. 9, 2008
Date on which Statute of Limitations Expired	Dec. 9, 2019
Payment of Expenses	$ 1,501
Accounts payable [Member]
Date Created	Jun. 30, 2012
Written Instrument	No
Date on which Statute of Limitations Expired	Jun. 30, 2016
Accounts payable	$ 53,804
Accrued liabilities [Member]
Date Created	Jun. 30, 2012
Written Instrument	No
Date on which Statute of Limitations Expired	Jun. 30, 2016
Accrued liabilities	$ 1,625

WRITEOFF OF PAYABLES RELATED _2

WRITEOFF OF PAYABLES RELATED PARTY TRANSACTIONS AND ACCRUED INTEREST OCCURING PRIOR TO THE COMPANY ABANDONMENT (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
WRITE-OFF OF PAYABLES RELATED PARTY TRANSACTIONS AND ACCRUED INTEREST OCCURING PRIOR TO THE COMPANY ABANDONMENT
Write-off the Related Party Loans, Accrued Interest and Other Payables	$ 104,368	$ 824,752
Gain on Extinguishment of Debt	54,368	$ 54,368	$ 378,527
Written off debt additional paid in capital	$ 50,000		$ 446,225

CAPITAL STOCK (Details Narrativ

CAPITAL STOCK (Details Narrative)	12 Months Ended
	Dec. 31, 2021USD ($)shares
CAPITAL STOCK
Common stock value issued for services	$ 753,000
Common stock shares issued for services | shares	30,000,000
Stock based consulting fees	$ 753,000

COMMITMENTS (Details Narrative)

COMMITMENTS (Details Narrative) - USD ($)	Feb. 08, 2010	Jul. 01, 2009	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2010	Dec. 31, 2009
COMMITMENTS (Details Narrative)
Investor relations agreement description		Pursuant to the agreement, the Company agreed to pay a fee of $ 1,000 per month for a period of six months beginning on August 1, 2009 and ending January 1, 2010. The Company must also issue 75,000 shares within 7 days of signing the agreement. Any payments over 45 days will be subject to a penalty fee of 10% per week.
Consulting fee per month		$ 1,000
Penalty fees per week		10.00%
Shares issued for services, shares		75,000
Common stock shares issued during the period, shares	75,000
Common Stock to be Issued			$ 2,282	$ 2,282		$ 2,282
Additional shares issued					75,000

MATERIAL EVENTS (Details Narrat

MATERIAL EVENTS (Details Narrative) shares in Millions	Sep. 14, 2021shares
Acquisition Agreement [Member]
Comon stock shares sold	50