Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash $ 1,249,101 $ 764,891
Accounts receivable 4,710
Accounts receivable - related party 215,418
Rent receivable 44,220 23,759
Deferred financing costs 271,147 311,177
Prepaid expenses and other current assets 267,220 251,140
Total Current Assets 1,831,688 1,571,095
NON-CURRENT ASSETS:    
Rent receivable - noncurrent portion 98,613 99,235
Right-of-use asset, operating lease 169,578
Property and equipment, net 519,898 601,425
Investment in real estate, net 7,655,076 7,735,680
Equity method investment 484,090 483,101
Total Non-current Assets 8,927,255 8,919,441
Total Assets 10,758,943 10,490,536
CURRENT LIABILITIES:    
Accrued professional fees 969,877 1,243,190
Accrued research and development fees 507,646 650,000
Accrued payroll liability 373,551 373,083
Accrued liabilities and other payables 350,094 303,911
Accrued liabilities and other payables - related parties 270,766 187,042
Operating lease obligation 76,379
Tenants' security deposit 79,180 78,237
Total Current Liabilities 2,627,493 2,835,463
NON-CURRENT LIABILITIES:    
Operating lease obligation - noncurrent portion 99,199
Note payable - related party 390,000 590,000
Loan payable - related party 2,900,000 2,600,000
Total Non-current Liabilities 3,389,199 3,190,000
Total Liabilities 6,016,692 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 June 30, 2020 and December 31, 2019
Common stock, $0.0001 par value; 490,000,000 shares authorized; 80,108,887 shares issued and 79,588,887 shares outstanding at June 30, 2020; 76,730,802 shares issued and 76,210,802 shares outstanding at December 31, 2019 8,011 7,673
Additional paid-in capital 41,215,766 34,593,006
Less: common stock held in treasury, at cost; 520,000 shares at June 30, 2020 and December 31, 2019 (522,500) (522,500)
Accumulated deficit (35,689,100) (29,361,937)
Statutory reserve 6,578 6,578
Accumulated other comprehensive loss - foreign currency translation adjustment (276,504) (257,747)
Total Avalon GloboCare Corp. stockholders' equity 4,742,251 4,465,073
Non-controlling interest
Total Equity 4,742,251 4,465,073
Total Liabilities and Equity $ 10,758,943 $ 10,490,536