Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash $ 764,891 $ 2,252,287
Accounts receivable 4,710 9,739
Accounts receivable - related party 215,418
Straight-line rent receivable 23,759 42,484
Security deposit 24,847 127,263
Prepaid expenses - related parties 34,190
Prepaid expenses and other current assets 537,470 1,159,469
Total Current Assets 1,571,095 3,625,432
NON-CURRENT ASSETS:    
Straight-line rent receivable - noncurrent portion 99,235
Property and equipment, net 601,425 249,555
Investment in real estate, net 7,735,680 7,879,885
Intangible assets, net 1,255,689
Equity method investment 483,101 385,162
Total Non-current Assets 8,919,441 9,770,291
Total Assets 10,490,536 13,395,723
CURRENT LIABILITIES:    
Accrued professional fees 1,243,190 166,077
Accrued research and development fees 650,000
Accrued payroll liability 373,083 529,472
Accrued liabilities and other payables 303,911 264,642
Accrued liabilities and other payables - related parties 187,042 114,829
Tenants' security deposit 78,237 66,700
Total Current Liabilities 2,835,463 1,141,720
NON-CURRENT LIABILITIES:    
Loan payable 1,000,000
Note payable - related party 590,000
Loan payable - related party 2,600,000
Total Non-current Liabilities 3,190,000 1,000,000
Total Liabilities 6,025,463 2,141,720
Commitments and Contingencies - (Note 20)  
EQUITY:    
Common stock, $0.0001 par value; 490,000,000 shares authorized; 76,730,802 shares issued and 76,210,802 shares outstanding at December 31, 2019; 73,830,751 shares issued and 73,310,751 shares outstanding at December 31, 2018 7,673 7,383
Additional paid-in capital 34,593,006 24,153,378
Less: common stock held in treasury, at cost; 520,000 shares at December 31, 2019 and 2018 (522,500) (522,500)
Accumulated deficit (29,361,937) (11,291,776)
Statutory reserve 6,578 6,578
Accumulated other comprehensive loss - foreign currency translation adjustment (257,747) (236,860)
Total Avalon GloboCare Corp. stockholders' equity and non-controlling interest 4,465,073 12,116,203
Non-controlling interest (862,200)
Total Equity 4,465,073 11,254,003
Total Liabilities and Equity $ 10,490,536 $ 13,395,723