Yosen Group, Inc.

CIK:0001076784|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE GAIN (LOSS) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Revenue
Cost of sales
Gross profit
General and administrative expenses	682,949	201,689	1,322,806	338,180
Loss from operations	(682,949)	(201,689)	(1,322,806)	(338,180)
Other (income) expense:
Interest income	234	617	637	617
Interest expense	(189,099)		(449,981)
Bank charge	(620)		(3,415)
Other income	54,817	1,193	102,686	813
Total other income (expenses), net	(134,668)	1,810	(350,073)	1,430
Loss from continuing operations before income taxes	(817,617)	(199,879)	(1,672,879)	(336,750)
Income taxes
Loss from continuing operations	(817,617)	(199,879)	(1,672,879)	(336,750)
Loss from operations of discontinued entities, net of income taxes
Gain from disposition of discontinued operations, net of income taxes				3,855,189
Net income (loss) including noncontrolling interest	(817,617)	(199,879)	(1,672,879)	3,518,439
Net loss attributable to noncontrolling interest				(39,923)
Net income (loss) attributable to DBUB Group	(817,617)	(199,879)	(1,672,879)	3,558,362
Other comprehensive items:
Foreign currency translation loss attributable to DBUB Group	59,360	12,922	60,004	13,229
Foreign currency translation loss attributable to noncontrolling interest
Comprehensive income (loss) attributable to DBUB Group	(758,257)	(186,957)	(1,612,875)	3,571,591
Comprehensive loss attributable to noncontrolling interest				$ (39,923)
Basic and diluted earnings (loss) per share:
Continuing operations	$ (0.04)	$ (0.01)	$ (0.08)	$ (0.02)
Discontinued operations				0.24
Net income (loss) per share	$ (0.04)	$ (0.01)	$ (0.08)	$ 0.22
Weighted average shares outstanding:
Basic	20,965,106	20,036,736	20,945,875	16,213,976
Diluted	20,965,106	20,036,736	20,945,875	16,213,976

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss including noncontrolling interest	$ (1,672,879)	$ 3,518,439
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation	119,000	119,000
Depreciation and amortization	45,446	37,991
Net gain on disposal of discontinued operations		(4,076,277)
Changes in assets and liabilities
Other receivables	294,911	(2,893,359)
Prepaid expenses and deposits	599,286	(808,430)
Advance to suppliers	4,200	(81,409)
Change in assets of discontinued operations		269,147
Accounts payable	(11,864)
Accrued expenses and other payable	(199,242)	258,628
Advance from customers	(4,372)
Income tax payable	(898)	40
Change in liabilities of discontinued operations		787,946
Net cash used in operating activities	(826,412)	(2,868,284)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(162,250)	(106,230)
Purchase of property and equipment - discontinued operations		(4,967)
Payment for intangible asset		(82,901)
Net cash used in investing activities	(165,250)	(194,098)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of short-term loans - discontinued operations		(29,369)
Proceeds from common stock and warrant subscriptions	2,100	299,000
Advance from related parties	5,232,782	4,900,127
Repayment to related parties	(4,535,499)
Interest accrued on advance from related parties	446,251
Repayment to unrelated parties	(104,913)
Changes in advance from / to related parties - discontinued operations		(841,690)
Net cash used in financing activities	1,040,721	4,328,068
Effect of exchange rate changes on cash and equivalents	(44,173)	29,413
Net increase decrease in cash and equivalents	4,886	1,295,099
Cash and equivalents, beginning of period	1,554,049	23,048
Cash and equivalents, end of period	1,558,935	1,318,147
Supplemental disclosure of cash flow information:
Income taxes paid
Interest paid	$ 183,221	$ 79,204

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and equivalents	$ 1,558,935	$ 1,554,049
Other receivables	7,114	305,523
Prepaid expenses	81,607	341,089
Deposits	325	606,336
Advance to related party	221,154	33,693
Total current assets	1,869,135	2,840,690
NON-CURRENT ASSETS
Fix assets, net	240,829	108,006
Intangible assets, net	114,722	20,354
Total noncurrent assets	355,551	128,360
Total assets	2,224,686	2,969,050
Current liabilities:
Accounts payable		11,837
Advance from customers		4,362
Accrued expenses and other payable	257,266	402,976
Income tax payable	91	990
Advance from related parties	4,261,090	3,231,871
Total Liabilities	4,518,447	3,652,036
Stockholders' deficit:
Common stock, $0.001 par value, 50,000,000 shares authorized, 20,965,106 and 20,935,106 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively	20,965	20,935
Additional paid-in capital	29,147,316	29,145,246
Other accumulated comprehensive income	82,943	22,939
Accumulated deficit	(31,544,985)	(29,872,106)
Total stockholders' deficit	(2,293,761)	(682,986)
Total liabilities and stockholders' deficit	$ 2,224,686	$ 2,969,050