Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash $ 526,290 $ 807,538
Rent receivable 44,065 33,618
Rent receivable - related party 46,200 33,600
Deferred financing costs, net 139,170 138,631
Prepaid expenses and other current assets 157,791 309,655
Total Current Assets 913,516 1,323,042
NON-CURRENT ASSETS:    
Rent receivable - noncurrent portion 155,266 163,211
Deferred financing costs - noncurrent portion, net 74,937 74,648
Security deposit 20,271
Deferred leasing costs 101,936 109,792
Operating lease right-of-use assets, net 111,223 145,303
Property and equipment, net 321,206 361,547
Investment in real estate, net 7,486,599 7,528,770
Equity method investment 503,994 515,632
Total Non-current Assets 8,755,161 8,919,174
Total Assets 9,668,677 10,242,216
CURRENT LIABILITIES:    
Accrued professional fees 2,567,620 1,881,349
Accrued research and development fees 811,867 928,111
Accrued payroll liability and directors’ compensation 480,226 307,043
Accrued liabilities and other payables 656,830 275,320
Accrued liabilities and other payables - related parties 508,120 468,433
Operating lease obligation 123,223 151,402
Note payable - related party 390,000
Total Current Liabilities 5,147,886 4,401,658
NON-CURRENT LIABILITIES:    
Operating lease obligation - noncurrent portion 5,901
Note payable - related party 390,000  
Loan payable - related party 2,850,262 2,750,262
Total Non-current Liabilities 3,240,262 2,756,163
Total Liabilities 8,388,148 7,157,821
Commitments and Contingencies (Note 13)
EQUITY:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding at March 31, 2022 and December 31, 2021
Common stock, $0.0001 par value; 490,000,000 shares authorized; 89,145,809 shares issued and 88,625,809 shares outstanding at March 31, 2022; 88,975,169 shares issued and 88,455,169 shares outstanding at December 31, 2021; 8,915 8,898
Additional paid-in capital 55,153,193 54,888,559
Less: common stock held in treasury, at cost; 520,000 shares at March 31, 2022 and December 31, 2021 (522,500) (522,500)
Accumulated deficit (53,202,412) (51,131,874)
Statutory reserve 6,578 6,578
Accumulated other comprehensive loss - foreign currency translation adjustment (163,245) (165,266)
Total Avalon GloboCare Corp. stockholders’ equity 1,280,529 3,084,395
Non-controlling interest
Total Equity 1,280,529 3,084,395
Total Liabilities and Equity $ 9,668,677 $ 10,242,216