Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.20.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash $ 635,271 $ 764,891
Accounts receivable 4,710
Accounts receivable - related party 127,076 215,418
Rent receivable 31,361 23,759
Deferred financing costs 275,551 311,177
Prepaid expenses and other current assets 279,182 251,140
Total Current Assets 1,348,441 1,571,095
NON-CURRENT ASSETS:    
Rent receivable - noncurrent portion 98,378 99,235
Right-of-use asset, operating lease 185,401
Property and equipment, net 554,627 601,425
Investment in real estate, net 7,695,378 7,735,680
Equity method investment 466,014 483,101
Total Non-current Assets 8,999,798 8,919,441
Total Assets 10,348,239 10,490,536
CURRENT LIABILITIES:    
Accrued professional fees 1,425,234 1,243,190
Accrued research and development fees 475,000 650,000
Accrued payroll liability 376,811 373,083
Accrued liabilities and other payables 373,254 303,911
Accrued liabilities and other payables - related parties 215,232 187,042
Operating lease obligation 88,379
Tenants' security deposit 79,180 78,237
Total Current Liabilities 3,033,090 2,835,463
NON-CURRENT LIABILITIES:    
Operating lease obligation - noncurrent portion 115,022
Note payable - related party 590,000 590,000
Loan payable - related party 2,900,000 2,600,000
Total Non-current Liabilities 3,605,022 3,190,000
Total Liabilities 6,638,112 6,025,463
Commitments and Contingencies - (Note 13)
EQUITY:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding at March 31, 2020 and December 31, 2019
Common stock, $0.0001 par value; 490,000,000 shares authorized; 77,933,737 shares issued and 77,413,737 shares outstanding at March 31, 2020; 76,730,802 shares issued and 76,210,802 shares outstanding at December 31, 2019 7,793 7,673
Additional paid-in capital 37,130,787 34,593,006
Less: common stock held in treasury, at cost; 520,000 shares at March 31, 2020 and December 31, 2019 (522,500) (522,500)
Accumulated deficit (32,632,718) (29,361,937)
Statutory reserve 6,578 6,578
Accumulated other comprehensive loss - foreign currency translation adjustment (279,813) (257,747)
Total Avalon GloboCare Corp. stockholders' equity and non-controlling interest 3,710,127 4,465,073
Non-controlling interest
Total Equity 3,710,127 4,465,073
Total Liabilities and Equity $ 10,348,239 $ 10,490,536