Yubo International Biotech Ltd. (YBGJ)

[db7]

10-Q filed; excerpt:
"Additionally, in connection with the closing of the Stock Purchase Agreement, the Seller agreed to pay approximately $37,000 to settle certain liabilities of the Company for stock transfer, Edgarizing and other services (approximately $18,000) and approximately $19,000 to settle a liability for the services of our Treasurer and Secretary (Chief Financial Officer) over an extended period of time aggregating approximately $186,000. Further, upon closing of the transaction, the Purchaser performed a review of certain accounts and accruals payable (approximately $173,000 and $18,000, respectively) and received a legal opinion that such outstanding accounts payable and accrued liabilities aggregating approximately $191,000 were time-barred by the Statute of Limitations and has recorded the relief of those liabilities, and a gain on debt extinguishment, as of the closing date of the transaction"