YBCC Inc. (fka YBAO)

[Quintessence]

Looks like it's a shell now. Wonder what's next for YBAO?

https://www.otcmarkets.com/filing/html?id=13529806&guid=WCyxUWNUzPjEl3h

Item 1.01 Entry into a Material Definitive Agreement.

On June 30, 2019, Xiuhua Song. (“Song”) previously YBCC’s Majority Stockholder, and YBCC entered into a share purchase agreement (“Yibaoccyb Vend Out”) whereby Song will cancel 2,040,000 shares of YBCC common stock held by it in exchange for 51% of the outstanding shares of Yibaoccyb, Ltd. (“Yibaoccyb”) The Yibaoccyb Vend Out occurred on June 30, 2019. A copy of the Yibaoccyb Vend Out is included as Exhibit 10.1 and filed with this current report on Form 8-K.

Item 2.01 Acquisition or Disposition of Assets

Prior to the Yibaoccyb Vend Out, through our subsidiary Ybaoccyb and its subsidiaries , our primary operations consisted of the business and operations of the Yibao Group, which are conducted by Shandong Confucian Biologics in China.

As of June 30, 2019, YBCC is deemed a public “shell” with nominal assets

Our board of directors (the “ Board ”) and YBCC’s Majority Stockholder, as well as the directors and the shareholders of Yibaoccyb, have each approved the Yibaoccyb Vend Out, including the transactions contemplated thereunder.