Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES        
Real property rental $ 317,390 $ 355,459 $ 905,842 $ 925,465
Medical related consulting services - related party   131,305   131,305
Total Revenues 317,390 486,764 905,842 1,056,770
COSTS AND EXPENSES        
Real property operating expenses 247,152 215,622 677,303 637,663
Medical related consulting services - related party   102,442   102,442
Total Costs and Expenses 247,152 318,064 677,303 740,105
GROSS PROFIT        
Real property operating income 70,238 139,837 228,539 287,802
Gross profit from medical related consulting services   28,863   28,863
Total Gross Profit 70,238 168,700 228,539 316,665
OTHER OPERATING EXPENSES:        
Advertising and marketing 150,620 27,833 807,821 44,156
Professional fees 628,807 1,221,952 1,886,562 3,960,209
Compensation and related benefits 488,373 434,602 1,514,959 1,544,437
Research and development expenses 170,406 224,072 541,566 676,053
Litigation settlement   1,350,000
Other general and administrative 221,131 225,212 687,243 662,649
Total Other Operating Expenses 1,659,337 2,133,671 6,788,151 6,887,504
LOSS FROM OPERATIONS (1,589,099) (1,964,971) (6,559,612) (6,570,839)
OTHER (EXPENSE) INCOME        
Interest expense - amortization of debt discount and debt issuance cost (3,248,597)   (3,303,282)  
Interest expense - other (46,547) (53,751)
Interest expense - related party (8,358) (50,248) (79,898) (141,528)
Conversion inducement expense (344,264)   (344,264)  
Loss from equity method investment (9,011) (14,203) (33,809) (48,135)
Change in fair value of derivative liability (168,520) 600,749
Other income 242 5,203 260,701 4,255
Total Other Expense, net (3,825,055) (59,248) (2,953,554) (185,408)
LOSS BEFORE INCOME TAXES (5,414,154) (2,024,219) (9,513,166) (6,756,247)
INCOME TAXES    
NET LOSS (5,414,154) (2,024,219) (9,513,166) (6,756,247)
LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST    
NET LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS (5,414,154) (2,024,219) (9,513,166) (6,756,247)
COMPREHENSIVE LOSS:        
NET LOSS (5,414,154) (2,024,219) (9,513,166) (6,756,247)
OTHER COMPREHENSIVE (LOSS) INCOME        
Unrealized foreign currency translation (loss) gain (37,033) 1,285 (78,515) 13,349
COMPREHENSIVE LOSS (5,451,187) (2,022,934) (9,591,681) (6,742,898)
LESS: COMPREHENSIVE LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST    
COMPREHENSIVE LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS $ (5,451,187) $ (2,022,934) $ (9,591,681) $ (6,742,898)
NET LOSS PER COMMON SHARE ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS:        
Basic and diluted (in Dollars per share) $ (0.06) $ (0.02) $ (0.1) $ (0.08)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic and diluted (in Shares) 97,036,029 85,362,416 91,521,683 84,473,569