Balance Sheet

v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash $ 1,395,510 $ 764,891
Accounts receivable 4,710
Accounts receivable - related party 215,418
Rent receivable 97,385 23,759
Deferred financing costs 228,309 311,177
Prepaid expenses and other current assets 432,295 251,140
Total Current Assets 2,153,499 1,571,095
NON-CURRENT ASSETS:    
Rent receivable - noncurrent portion 135,905 99,235
Prepaid realtors’ commission - noncurrent portion 74,822
Right-of-use asset, operating lease 153,556
Property and equipment, net 500,513 601,425
Investment in real estate, net 7,649,441 7,735,680
Equity method investment 488,374 483,101
Total Non-current Assets 9,002,611 8,919,441
Total Assets 11,156,110 10,490,536
CURRENT LIABILITIES:    
Accrued professional fees 963,084 1,243,190
Accrued research and development fees 442,435 650,000
Accrued payroll liability 246,469 373,083
Accrued liabilities and other payables 369,495 303,911
Accrued liabilities and other payables - related parties 262,452 187,042
Operating lease obligation 76,379  
Tenants’ security deposit 79,180 78,237
Total Current Liabilities 2,439,494 2,835,463
NON-CURRENT LIABILITIES:    
Operating lease obligation - noncurrent portion 83,177  
Note payable - related party 390,000 590,000
Loan payable - related party 2,900,000 2,600,000
Total Non-current Liabilities 3,373,177 3,190,000
Total Liabilities 5,812,671 6,025,463
Commitments and Contingencies - (Note 13)
EQUITY:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding at September 30, 2020 and December 31, 2019
Common stock, $0.0001 par value; 490,000,000 shares authorized; 81,876,855 shares issued and 81,356,855 shares outstanding at September 30, 2020; 76,730,802 shares issued and 76,210,802 shares outstanding at December 31, 2019 8,188 7,673
Additional paid-in capital 45,029,038 34,593,006
Less: common stock held in treasury, at cost; 520,000 shares at September 30, 2020 and December 31, 2019 (522,500) (522,500)
Accumulated deficit (38,941,059) (29,361,937)
Statutory reserve 6,578 6,578
Accumulated other comprehensive loss - foreign currency translation adjustment (236,806) (257,747)
Total Avalon GloboCare Corp. stockholders’ equity 5,343,439 4,465,073
Non-controlling interest
Total Equity 5,343,439 4,465,073
Total Liabilities and Equity $ 11,156,110 $ 10,490,536

Source