Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

v3.22.2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUES        
Real property rental $ 290,821 $ 280,232 $ 588,452 $ 570,006
Total Revenues 290,821 280,232 588,452 570,006
COSTS AND EXPENSES        
Real property operating expenses 211,703 205,147 430,151 422,041
Total Costs and Expenses 211,703 205,147 430,151 422,041
GROSS PROFIT        
Real property operating income 79,118 75,085 158,301 147,965
Total Gross Profit 79,118 75,085 158,301 147,965
OTHER OPERATING EXPENSES:        
Advertising and marketing 130,395 7,500 657,201 16,323
Professional fees 436,447 1,357,079 1,257,755 2,738,257
Compensation and related benefits 503,541 547,829 1,026,586 1,109,835
Research and development expenses 254,476 238,793 371,160 451,981
Litigation settlement 1,350,000 1,350,000
Other general and administrative 247,830 226,164 466,112 437,437
Total Other Operating Expenses 2,922,689 2,377,365 5,128,814 4,753,833
LOSS FROM OPERATIONS (2,843,571) (2,302,280) (4,970,513) (4,605,868)
OTHER (EXPENSE) INCOME        
Interest expense (61,889) (61,889)
Interest expense - related party (31,854) (46,131) (71,540) (91,280)
Loss from equity method investment (11,882) (15,418) (24,798) (33,932)
Change in fair value of derivative liability 769,269 769,269
Other income (expense) 151,453 (1,081) 260,459 (948)
Total Other Income (Expense), net 815,097 (62,630) 871,501 (126,160)
LOSS BEFORE INCOME TAXES (2,028,474) (2,364,910) (4,099,012) (4,732,028)
INCOME TAXES    
NET LOSS (2,028,474) (2,364,910) (4,099,012) (4,732,028)
LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST    
NET LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS (2,028,474) (2,364,910) (4,099,012) (4,732,028)
COMPREHENSIVE LOSS:        
NET LOSS (2,028,474) (2,364,910) (4,099,012) (4,732,028)
OTHER COMPREHENSIVE (LOSS) INCOME        
Unrealized foreign currency translation (loss) gain (43,503) 14,786 (41,482) 12,064
COMPREHENSIVE LOSS (2,071,977) (2,350,124) (4,140,494) (4,719,964)
LESS: COMPREHENSIVE LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST    
COMPREHENSIVE LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS $ (2,071,977) $ (2,350,124) $ (4,140,494) $ (4,719,964)
NET LOSS PER COMMON SHARE ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS:        
Basic and diluted (in Dollars per share) $ (0.02) $ (0.03) $ (0.05) $ (0.06)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic and diluted (in Shares) 88,932,809 84,623,723 88,718,812 84,021,787