Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash $ 807,538 $ 726,577
Rent receivable 33,618 35,395
Rent receivable - related party 33,600
Deferred financing costs, net 138,631 222,141
Prepaid professional fees 186,609 78,639
Prepaid expenses and other current assets 123,046 223,585
Total Current Assets 1,323,042 1,286,337
NON-CURRENT ASSETS:    
Rent receivable - noncurrent portion 163,211 111,840
Deferred financing costs - noncurrent portion, net 74,648
Security deposit 20,271
Deferred leasing costs 109,792 144,197
Operating lease right-of-use assets, net 145,303 137,333
Property and equipment, net 361,547 479,115
Investment in real estate, net 7,528,770 7,685,686
Equity method investment 515,632 521,758
Total Non-current Assets 8,919,174 9,079,929
Total Assets 10,242,216 10,366,266
CURRENT LIABILITIES:    
Accrued professional fees 1,881,349 1,212,822
Accrued research and development fees 928,111 513,533
Accrued payroll liability and directors’ compensation 307,043 154,292
Accrued liabilities and other payables 275,320 367,411
Accrued liabilities and other payables - related parties 468,433 267,956
Operating lease obligation 151,402 76,379
Note payable - related party 390,000
Total Current Liabilities 4,401,658 2,592,393
NON-CURRENT LIABILITIES:    
Operating lease obligation - noncurrent portion 5,901 66,954
Note payable - related party 390,000
Loan payable - related party 2,750,262 3,200,000
Total Non-current Liabilities 2,756,163 3,656,954
Total Liabilities 7,157,821 6,249,347
Commitments and Contingencies (Note 17)
EQUITY:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding at December 31, 2021 and 2020
Common stock, $0.0001 par value; 490,000,000 shares authorized; 88,975,169 shares issued and 88,455,169 shares outstanding at December 31, 2021; 82,795,297 shares issued and 82,275,297 shares outstanding at December 31, 2020 8,898 8,279
Additional paid-in capital 54,888,559 46,856,447
Less: common stock held in treasury, at cost; 520,000 shares at and December 31, 2021 and 2020 (522,500) (522,500)
Accumulated deficit (51,131,874) (42,041,375)
Statutory reserve 6,578 6,578
Accumulated other comprehensive loss - foreign currency translation adjustment (165,266) (190,510)
Total Avalon GloboCare Corp. stockholders’ equity 3,084,395 4,116,919
Non-controlling interest
Total Equity 3,084,395 4,116,919
Total Liabilities and Equity $ 10,242,216 $ 10,366,266