Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash $ 532,251 $ 726,577
Rent receivable 47,073 35,395
Rent receivable - related party 21,000  
Deferred financing costs 171,535 222,141
Prepaid professional fees 335,023 78,639
Prepaid expenses and other current assets 151,049 223,585
Total Current Assets 1,257,931 1,286,337
NON-CURRENT ASSETS:    
Rent receivable - noncurrent portion 157,477 111,840
Deferred leasing costs 117,647 144,197
Operating lease right-of-use assets, net 177,806 137,333
Property and equipment, net 399,865 479,115
Investment in real estate, net 7,570,940 7,685,686
Equity method investment 520,569 521,758
Other noncurrent assets 191,521
Total Non-current Assets 9,135,825 9,079,929
Total Assets 10,393,756 10,366,266
CURRENT LIABILITIES:    
Accrued professional fees 2,206,445 1,212,822
Accrued research and development fees 740,308 513,533
Accrued payroll liability and directors’ compensation 301,343 154,292
Accrued liabilities and other payables 339,548 367,411
Accrued liabilities and other payables - related parties 409,484 267,956
Operating lease obligation 148,749 76,379
Note payable - related party 390,000  
Total Current Liabilities 4,535,877 2,592,393
NON-CURRENT LIABILITIES:    
Operating lease obligation - noncurrent portion 41,057 66,954
Note payable - related party   390,000
Loan payable - related party 3,963,189 3,200,000
Total Non-current Liabilities 4,004,246 3,656,954
Total Liabilities 8,540,123 6,249,347
Commitments and Contingencies (Note 14)
EQUITY:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding at September 30, 2021 and December 31, 2020
Common stock, $0.0001 par value; 490,000,000 shares authorized; 86,052,367 shares issued and 85,532,367 shares outstanding at September 30, 2021; 82,795,297 shares issued and 82,275,297 shares outstanding at December 31, 2020 8,605 8,279
Additional paid-in capital 51,335,733 46,856,447
Less: common stock held in treasury, at cost; 520,000 shares at September 30, 2021 and December 31, 2020 (522,500) (522,500)
Accumulated deficit (48,797,622) (42,041,375)
Statutory reserve 6,578 6,578
Accumulated other comprehensive loss - foreign currency translation adjustment (177,161) (190,510)
Total Avalon GloboCare Corp. stockholders’ equity 1,853,633 4,116,919
Non-controlling interest
Total Equity 1,853,633 4,116,919
Total Liabilities and Equity $ 10,393,756 $ 10,366,266