Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

v3.20.1
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
REVENUES    
Real property rental $ 296,956 $ 266,626
Medical related consulting services - related party 14,260
Development services and sales of developed products 3,278
Total Revenues 296,956 284,164
COSTS AND EXPENSES    
Real property operating expenses 254,501 230,759
Medical related consulting services - related party 13,091
Development services and sales of developed products 30,307
Total Costs and Expenses 254,501 274,157
REAL PROPERTY OPERATING INCOME 42,455 35,867
GROSS PROFIT FROM MEDICAL RELATED CONSULTING SERVICES 1,169
GROSS LOSS FROM DEVELOPMENT SERVICES AND SALES OF DEVELOPED PRODUCTS (27,029)
Total Gross Profit 42,455 10,007
OTHER OPERATING EXPENSES:    
Professional fees 1,553,698 1,468,226
Compensation and related benefits 1,128,468 2,100,155
Research and development expenses 275,402 152,460
Other general and administrative 307,079 754,479
Total Other Operating Expenses 3,264,647 4,475,320
LOSS FROM OPERATIONS (3,222,192) (4,465,313)
OTHER INCOME (EXPENSE)    
Interest expense (25,697)
Interest expense - related party (42,169) (1,944)
Loss from equity-method investment (9,084) (12,743)
Other income 2,664 768
Total Other Expense, net (48,589) (39,616)
LOSS BEFORE INCOME TAXES (3,270,781) (4,504,929)
INCOME TAXES
NET LOSS (3,270,781) (4,504,929)
LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST (99,113)
NET LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS (3,270,781) (4,405,816)
COMPREHENSIVE LOSS:    
NET LOSS (3,270,781) (4,504,929)
OTHER COMPREHENSIVE (LOSS) INCOME    
Unrealized foreign currency translation (loss) gain (22,066) 43,482
COMPREHENSIVE LOSS (3,292,847) (4,461,447)
LESS: COMPREHENSIVE LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST (100,311)
COMPREHENSIVE LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS $ (3,292,847) $ (4,361,136)
NET LOSS PER COMMON SHARE ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS:    
Basic and diluted $ (0.04) $ (0.06)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:    
Basic and diluted 76,712,054 73,690,461