Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash $ 1,180,208 $ 807,538
Rent receivable 24,778 33,618
Rent receivable - related party 58,500 33,600
Deferred financing costs, net 139,170 138,631
Prepaid expenses and other current assets 250,302 309,655
Total Current Assets 1,652,958 1,323,042
NON-CURRENT ASSETS:    
Rent receivable - noncurrent portion 147,964 163,211
Deferred financing costs - noncurrent portion, net 74,937 74,648
Security deposit 20,271
Deferred leasing costs 97,216 109,792
Operating lease right-of-use assets, net 74,348 145,303
Property and equipment, net 265,709 361,547
Investment in real estate, net 7,444,428 7,528,770
Equity method investment 517,442 515,632
Total Non-current Assets 8,622,044 8,919,174
Total Assets 10,275,002 10,242,216
CURRENT LIABILITIES:    
Accounts payable 376,386
Accrued professional fees 1,485,695 1,881,349
Accrued research and development fees 609,222 928,111
Accrued payroll liability and directors’ compensation 374,601 307,043
Accrued settlement of lawsuit 900,000  
Accrued liabilities and other payables 344,352 275,320
Accrued liabilities and other payables - related parties 539,974 468,433
Operating lease obligation 74,348 151,402
Convertible note payable, net 492,550
Derivative liability 2,013,300
Note payable - related party 390,000
Total Current Liabilities 7,210,428 4,401,658
NON-CURRENT LIABILITIES:    
Operating lease obligation - noncurrent portion 5,901
Accrued settlement of lawsuit - noncurrent portion 450,000
Loan payable - related party 2,440,262 2,750,262
Total Non-current Liabilities 2,890,262 2,756,163
Total Liabilities 10,100,690 7,157,821
Commitments and Contingencies (Note 15)
EQUITY:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding at June 30, 2022 and December 31, 2021
Common stock, $0.0001 par value; 490,000,000 shares authorized; 89,554,766 shares issued and 89,034,766 shares outstanding at June 30, 2022; 88,975,169 shares issued and 88,455,169 shares outstanding at December 31, 2021 8,955 8,898
Additional paid-in capital 56,118,913 54,888,559
Less: common stock held in treasury, at cost; 520,000 shares at June 30, 2022 and December 31, 2021 (522,500) (522,500)
Accumulated deficit (55,230,886) (51,131,874)
Statutory reserve 6,578 6,578
Accumulated other comprehensive loss - foreign currency translation adjustment (206,748) (165,266)
Total Avalon GloboCare Corp. stockholders’ equity 174,312 3,084,395
Non-controlling interest
Total Equity 174,312 3,084,395
Total Liabilities and Equity $ 10,275,002 $ 10,242,216