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 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES        
Real property rental $ 324,982 $ 264,141 $ 923,205 $ 795,656
Medical related consulting services - related party   108,520   234,214
Development services and sales of developed products   10,555   37,237
Total Revenues 324,982 383,216 923,205 1,067,107
COSTS AND EXPENSES        
Real property operating expenses 135,821 193,738 663,086 617,173
Medical related consulting services - related party   94,442   202,908
Development services and sales of developed products   41,808   103,899
Total Costs and Expenses 135,821 329,988 663,086 923,980
REAL PROPERTY OPERATING INCOME 189,161 70,403 260,119 178,483
GROSS PROFIT FROM MEDICAL RELATED CONSULTING SERVICES   14,078   31,306
GROSS LOSS FROM DEVELOPMENT SERVICES AND SALES OF DEVELOPED PRODUCTS   (31,253)   (66,662)
Total Gross Profit 189,161 53,228 260,119 143,127
OTHER OPERATING EXPENSES:        
Professional fees 1,753,182 1,630,827 4,868,530 3,891,539
Compensation and related benefits 1,058,570 2,187,959 3,241,090 6,388,292
Research and development expenses 238,432 265,139 674,935 1,367,310
Other general and administrative 329,535 435,639 891,141 1,771,387
Impairment loss   1,010,011   1,010,011
Total Other Operating Expenses 3,379,719 5,529,575 9,675,696 14,428,539
LOSS FROM OPERATIONS (3,190,558) (5,476,347) (9,415,577) (14,285,412)
OTHER INCOME (EXPENSE)        
Interest expense   (2,356)   (36,875)
Interest expense - related party (41,531) (8,842) (126,169) (23,425)
Change in fair value of warrants liabilities   1,160,137   1,621,630
Financing expense       (525,418)
Loss from equity method investment (14,966) (25,266) (35,382) (48,353)
Other (expense) income (4,904) 18,616 (1,994) 20,043
Total Other Income (Expense), net (61,401) 1,142,289 (163,545) 1,007,602
LOSS BEFORE INCOME TAXES (3,251,959) (4,334,058) (9,579,122) (13,277,810)
INCOME TAXES
NET LOSS (3,251,959) (4,334,058) (9,579,122) (13,277,810)
LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST   (475,863)   (656,575)
NET LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS (3,251,959) (3,858,195) (9,579,122) (12,621,235)
COMPREHENSIVE LOSS:        
NET LOSS (3,251,959) (4,334,058) (9,579,122) (13,277,810)
OTHER COMPREHENSIVE INCOME (LOSS)        
Unrealized foreign currency translation gain (loss) 39,698 (69,388) 20,941 (60,009)
COMPREHENSIVE LOSS (3,212,261) (4,403,446) (9,558,181) (13,337,819)
LESS: COMPREHENSIVE LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST   (471,411)   (651,421)
COMPREHENSIVE LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS $ (3,212,261) $ (3,932,035) $ (9,558,181) $ (12,686,398)
NET LOSS PER COMMON SHARE ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS:        
Basic and diluted (in Dollars per share) $ (0.04) $ (0.05) $ (0.12) $ (0.17)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic and diluted (in Shares) 80,622,003 75,665,676 78,747,345 74,859,871