Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

v3.21.2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUES        
Real property rental $ 355,459 $ 324,982 $ 925,465 $ 923,205
Medical related consulting services - related party 131,305 131,305
Total Revenues 486,764 324,982 1,056,770 923,205
COSTS AND EXPENSES        
Real property operating expenses 215,622 135,821 637,663 663,086
Medical related consulting services - related party 102,442 102,442
Total Costs and Expenses 318,064 135,821 740,105 663,086
GROSS PROFIT        
Real property operating income 139,837 189,161 287,802 260,119
Gross profit from medical related consulting services 28,863 28,863
Total Gross Profit 168,700 189,161 316,665 260,119
OTHER OPERATING EXPENSES:        
Professional fees 1,221,952 1,753,182 3,960,209 4,868,530
Compensation and related benefits 434,602 1,058,570 1,544,437 3,241,090
Research and development expenses 224,072 238,432 676,053 674,935
Other general and administrative 253,045 329,535 706,805 891,141
Total Other Operating Expenses 2,133,671 3,379,719 6,887,504 9,675,696
LOSS FROM OPERATIONS (1,964,971) (3,190,558) (6,570,839) (9,415,577)
OTHER INCOME (EXPENSE)        
Interest expense - related party (50,248) (41,531) (141,528) (126,169)
Loss from equity method investment (14,203) (14,966) (48,135) (35,382)
Other income (expense) 5,203 (4,904) 4,255 (1,994)
Total Other Expense, net (59,248) (61,401) (185,408) (163,545)
LOSS BEFORE INCOME TAXES (2,024,219) (3,251,959) (6,756,247) (9,579,122)
INCOME TAXES
NET LOSS (2,024,219) (3,251,959) (6,756,247) (9,579,122)
LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST
NET LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS (2,024,219) (3,251,959) (6,756,247) (9,579,122)
COMPREHENSIVE LOSS:        
NET LOSS (2,024,219) (3,251,959) (6,756,247) (9,579,122)
OTHER COMPREHENSIVE INCOME        
Unrealized foreign currency translation gain 1,285 39,698 13,349 20,941
COMPREHENSIVE LOSS (2,022,934) (3,212,261) (6,742,898) (9,558,181)
LESS: COMPREHENSIVE LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST
COMPREHENSIVE LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS $ (2,022,934) $ (3,212,261) $ (6,742,898) $ (9,558,181)
NET LOSS PER COMMON SHARE ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS:        
Basic and diluted (in Dollars per share) $ (0.02) $ (0.04) $ (0.08) $ (0.12)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic and diluted (in Shares) 85,362,416 80,622,003 84,473,569 78,747,345