Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.8.0.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (1,690,570) $ 102,403
Adjustments to reconcile net (loss) income from operations to net cash (used in) provided by operating activities:    
Depreciation expense 58,478
Options granted for service 602,224
Changes in operating assets and liabilities:    
Accounts receivable - related parties (91,463)
Tenants receivable (56,239)
Prepaid expenses and other 14,151 (5,125)
Security deposit (30,081)
Accounts payable 21,600
Accrued liabilities and other payables 320,505 (2,790)
Accrued liabilities and other payables - related parties 22,990 6,226
Deferred rental income 19,914
Advance from customers - related parties 227,184
Income taxes payable (21,400)
VAT and other taxes payable (9,453)
Tenants' security deposit 92,288
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES (747,056) 327,898
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of Avalon GloboCare Corp.'s shares (230,000)
Purchase of property, plant and equipment (50,994) (395)
Purchase of commercial real estate (7,008,571)
NET CASH USED IN INVESTING ACTIVITIES (7,059,565) (230,395)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds received from loan payable 2,100,000
Proceeds received from related parties' advance 210,000 9,000
Repayment for related parties' advance (500)
Proceeds received from AHS's founders' contribution 141,000
Refundable deposit in connection with Share Subscription Agreement 3,000,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 5,309,500 150,000
EFFECT OF EXCHANGE RATE ON CASH (32,246) (1,262)
NET (DECREASE) INCREASE IN CASH (2,529,367) 246,241
CASH - beginning of period 2,886,189 109,586
CASH - end of period 356,822 355,827
Cash paid for:    
Interest
Income taxes 21,400
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Stock issued in connection with Share Subscription Agreement 300
Distribution of Avalon GloboCare Corp.'s shares to owners 230,000
Acquisition of real estate by decreasing prepayment for property $ 700,000