v3.23.3
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
RENTAL REVENUE $ 331,290 $ 317,390 $ 934,360 $ 905,842
OPERATING EXPENSES 288,083 247,152 781,931 677,303
OPERATING INCOME 43,207 70,238 152,429 228,539
INCOME FROM EQUITY METHOD INVESTMENT - LAB SERVICES MSO 354,500 370,060
OTHER OPERATING EXPENSES:        
Advertising and marketing expenses 437,750 150,620 1,634,720 807,821
Professional fees 435,144 628,807 2,659,895 1,886,562
Compensation and related benefits 469,959 488,373 1,375,637 1,514,959
Research and development expenses 170,406 110,160 541,566
Litigation settlement 1,350,000
Other general and administrative expenses 195,990 221,131 704,908 687,243
Total Other Operating Expenses 1,538,843 1,659,337 6,485,320 6,788,151
LOSS FROM OPERATIONS (1,141,136) (1,589,099) (5,962,831) (6,559,612)
OTHER (EXPENSE) INCOME        
Interest expense - amortization of debt discount and debt issuance cost (199,136) (3,248,597) (290,794) (3,303,282)
Interest expense - other (229,144) (46,547) (527,702) (53,751)
Conversion inducement expense (344,264) (344,264)
Loss from equity method investment - Epicon (9,011) (18,564) (33,809)
Change in fair value of derivative liability 87,173 (168,520) 128,894 600,749
Impairment of equity method investment - Epicon (464,406)
Other income 7,880 242 6,527 260,701
Total Other Expense, net (343,939) (3,825,055) (1,189,045) (2,953,554)
LOSS BEFORE INCOME TAXES (1,485,075) (5,414,154) (7,151,876) (9,513,166)
INCOME TAXES
NET LOSS (1,485,075) (5,414,154) (7,151,876) (9,513,166)
LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST
NET LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS (1,485,075) (5,414,154) (7,151,876) (9,513,166)
COMPREHENSIVE LOSS:        
NET LOSS (1,485,075) (5,414,154) (7,151,876) (9,513,166)
OTHER COMPREHENSIVE LOSS        
Unrealized foreign currency translation loss (8,685) (37,033) (16,026) (78,515)
COMPREHENSIVE LOSS (1,493,760) (5,451,187) (7,167,902) (9,591,681)
LESS: COMPREHENSIVE LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST
COMPREHENSIVE LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS $ (1,493,760) $ (5,451,187) $ (7,167,902) $ (9,591,681)
NET LOSS PER COMMON SHARE ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS:        
Basic and diluted (in Dollars per share) $ (0.14) $ (0.56) $ (0.69) $ (1.04)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic and diluted (in Shares) 10,795,489 9,703,603 10,372,447 9,152,168
Related Party        
OTHER (EXPENSE) INCOME        
Interest expense - related party $ (10,712) $ (8,358) $ (23,000) $ (79,898)

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