Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

v3.20.2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES        
Real property rental $ 301,267 $ 264,889 $ 598,223 $ 531,515
Medical related consulting services - related party 111,434 125,694
Development services and sales of developed products 23,404 26,682
Total Revenues 301,267 399,727 598,223 683,891
COSTS AND EXPENSES        
Real property operating expenses 272,764 192,676 527,265 423,435
Medical related consulting services - related party 95,375 108,466
Development services and sales of developed products 31,784 62,091
Total Costs and Expenses 272,764 319,835 527,265 593,992
REAL PROPERTY OPERATING INCOME 28,503 72,213 70,958 108,080
GROSS PROFIT FROM MEDICAL RELATED CONSULTING SERVICES 16,059 17,228
GROSS LOSS FROM DEVELOPMENT SERVICES AND SALES OF DEVELOPED PRODUCTS (8,380) (35,409)
Total Gross Profit 28,503 79,892 70,958 89,899
OTHER OPERATING EXPENSES:        
Professional fees 1,561,650 792,486 3,115,348 2,260,712
Compensation and related benefits 1,054,052 2,100,178 2,182,520 4,200,333
Research and development expenses 161,101 949,711 436,503 1,102,171
Other general and administrative 254,527 581,269 561,606 1,335,748
Total Other Operating Expenses 3,031,330 4,423,644 6,295,977 8,898,964
LOSS FROM OPERATIONS (3,002,827) (4,343,752) (6,225,019) (8,809,065)
OTHER INCOME (EXPENSE)        
Interest expense (8,822) (34,519)
Interest expense - related party (42,469) (12,639) (84,638) (14,583)
Change in fair value of warrants liabilities 461,493 461,493
Financing expense (525,418) (525,418)
Loss from equity method investment (11,332) (10,344) (20,416) (23,087)
Other income 246 659 2,910 1,427
Total Other Expense, net (53,555) (95,071) (102,144) (134,687)
LOSS BEFORE INCOME TAXES (3,056,382) (4,438,823) (6,327,163) (8,943,752)
INCOME TAXES
NET LOSS (3,056,382) (4,438,823) (6,327,163) (8,943,752)
LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST (81,599) (180,712)
NET LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS (3,056,382) (4,357,224) (6,327,163) (8,763,040)
COMPREHENSIVE LOSS:        
NET LOSS (3,056,382) (4,438,823) (6,327,163) (8,943,752)
OTHER COMPREHENSIVE INCOME (LOSS)        
Unrealized foreign currency translation gain (loss) 3,309 (34,103) (18,757) 9,379
COMPREHENSIVE LOSS (3,053,073) (4,472,926) (6,345,920) (8,934,373)
LESS: COMPREHENSIVE LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST (79,699) (180,010)
COMPREHENSIVE LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS $ (3,053,073) $ (4,393,227) $ (6,345,920) $ (8,754,363)
NET LOSS PER COMMON SHARE ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS:        
Basic and diluted $ (0.04) $ (0.06) $ (0.08) $ (0.12)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic and diluted 78,887,380 75,183,354 77,799,722 74,437,336