Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Loss

v3.20.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
REVENUES    
Real property rental $ 1,155,677 $ 1,121,483
Medical related consulting services - related parties 355,544 269,287
Development services and sales of developed products 35,084 171,516
Total Revenues 1,546,305 1,562,286
COSTS AND EXPENSES    
Real property operating expenses 818,662 793,714
Medical related consulting services - related parties 284,472 250,320
Development services and sales of developed products 103,258 130,238
Total Costs and Expenses 1,206,392 1,174,272
REAL PROPERTY OPERATING INCOME 337,015 327,769
GROSS PROFIT FROM MEDICAL RELATED CONSULTING SERVICES 71,072 18,967
GROSS (LOSS) PROFIT FROM DEVELOPMENT SERVICES AND SALES OF DEVELOPED PRODUCTS (68,174) 41,278
Total Gross Profit 339,913 388,014
OTHER OPERATING EXPENSES:    
Compensation and related benefits 8,743,691 2,715,323
Research and development expenses 1,781,869 39,061
Other general and administrative 8,181,572 5,264,765
Impairment loss 1,010,011
Total Other Operating Expenses 19,717,143 8,019,149
LOSS FROM OPERATIONS (19,377,230) (7,631,135)
OTHER INCOME (EXPENSE)    
Interest expense (33,714) (314,653)
Interest expense - related party (49,194)
Change in fair value of warrants liabilities 2,817,241
Financing expense (525,418)
Loss from equity-method investment (55,776) (52,969)
Foreign currency transaction gain (loss) 12,868 (106,929)
Loss from noncontrolling interest deficit adjustment (862,200)
Other income 3,262 53,390
Total Other Income (Expense), net 1,307,069 (421,161)
LOSS BEFORE INCOME TAXES (18,070,161) (8,052,296)
INCOME TAXES
NET LOSS (18,070,161) (8,052,296)
LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST (278,174)
NET LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS (18,070,161) (7,774,122)
COMPREHENSIVE LOSS:    
NET LOSS (18,070,161) (8,052,296)
OTHER COMPREHENSIVE LOSS    
Unrealized foreign currency translation loss (20,887) (143,498)
COMPREHENSIVE LOSS (18,091,048) (8,195,794)
LESS: COMPREHENSIVE LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST (276,806)
COMPREHENSIVE LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS $ (18,091,048) $ (7,918,988)
NET LOSS PER COMMON SHARE ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS:    
Basic and diluted $ (0.24) $ (0.11)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:    
Basic and diluted 75,116,895 72,004,081