Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash $ 3,937,959 $ 807,538
Rent receivable 50,830 33,618
Rent receivable - related party 71,400 33,600
Deferred financing costs, net 139,170 138,631
Other current assets 250,042 309,655
Total Current Assets 4,449,401 1,323,042
NON-CURRENT ASSETS:    
Operating lease right-of-use assets, net 44,161 145,303
Property and equipment, net 214,135 361,547
Investment in real estate, net 7,402,258 7,528,770
Equity method investment 478,362 515,632
Other non-current assets 322,356 367,922
Total Non-current Assets 8,461,272 8,919,174
Total Assets 12,910,673 10,242,216
CURRENT LIABILITIES:    
Accounts payable 80,585
Accrued professional fees 1,234,846 1,881,349
Accrued research and development fees 708,000 928,111
Accrued payroll liability and directors’ compensation 379,558 307,043
Accrued settlement of lawsuit 450,000  
Accrued liabilities and other payables 330,116 275,320
Accrued liabilities and other payables - related parties 100,000 468,433
Operating lease obligation 44,880 151,402
Note payable - related party 390,000
Total Current Liabilities 3,327,985 4,401,658
NON-CURRENT LIABILITIES:    
Operating lease obligation - noncurrent portion 5,901
Accrued settlement of lawsuit - noncurrent portion 450,000
Note payable, net 4,555,750
Loan payable - related party 2,750,262
Total Non-current Liabilities 5,005,750 2,756,163
Total Liabilities 8,333,735 7,157,821
Commitments and Contingencies (Note 16)
EQUITY:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding at September 30, 2022 and December 31, 2021
Common stock, $0.0001 par value; 490,000,000 shares authorized; 99,735,208 shares issued and 99,215,208 shares outstanding at September 30, 2022; 88,975,169 shares issued and 88,455,169 shares outstanding at December 31, 2021 9,973 8,898
Common stock to be issued 600,000
Additional paid-in capital 65,371,708 54,888,559
Less: common stock held in treasury, at cost; 520,000 shares at September 30, 2022 and December 31, 2021 (522,500) (522,500)
Accumulated deficit (60,645,040) (51,131,874)
Statutory reserve 6,578 6,578
Accumulated other comprehensive loss - foreign currency translation adjustment (243,781) (165,266)
Total Avalon GloboCare Corp. stockholders’ equity 4,576,938 3,084,395
Non-controlling interest
Total Equity 4,576,938 3,084,395
Total Liabilities and Equity $ 12,910,673 $ 10,242,216