v3.23.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash $ 887,031 $ 1,990,910
Rent receivable 133,749 134,626
Prepaid expense and other current assets 370,601 247,990
Total Current Assets 1,391,381 2,373,526
NON-CURRENT ASSETS:    
Operating lease right-of-use assets, net 220,247 10,885
Property and equipment, net 140,086 138,294
Investment in real estate, net 7,317,916 7,360,087
Equity method investments 21,524,364 485,008
Advances for equity interest purchase 8,999,722
Other non-current assets 378,248 384,383
Total Non-current Assets 29,580,861 17,378,379
Total Assets 30,972,242 19,751,905
CURRENT LIABILITIES:    
Accrued professional fees 2,086,952 1,673,411
Accrued research and development fees 900,473 838,001
Accrued payroll liability and directors’ compensation 236,290 223,722
Accrued litigation settlement 450,000 450,000
Accrued liabilities and other payables 279,611 283,234
Accrued liabilities and other payables - related parties 102,021 100,000
Operating lease obligation 121,124 11,437
Equity method investment payable 1,000,000
Total Current Liabilities 5,176,471 3,579,805
NON-CURRENT LIABILITIES:    
Operating lease obligation - noncurrent portion 100,073
Accrued litigation settlement - noncurrent portion 450,000 450,000
Note payable, net 4,585,356 4,563,152
Loan payable - related party 750,000
Total Non-current Liabilities 5,885,429 5,013,152
Total Liabilities 11,061,900 8,592,957
Commitments and Contingencies (Note 13)
EQUITY:    
Series A Convertible Preferred Stock, 9,000 shares issued and outstanding at March 31, 2023 and December 31, 2022. Liquidation preference $9 million at March 31, 2023 and December 31, 2022 9,000,000 9,000,000
Series B Convertible Preferred Stock, 11,000 and 0 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively. Liquidation preference $11 million at March 31, 2023 11,000,000  
Common stock, $0.0001 par value; 490,000,000 shares authorized; 10,216,307 shares issued and 10,164,307 shares outstanding at March 31, 2023; 10,013,576 shares issued and 9,961,576 shares outstanding at December 31, 2022 1,026 1,005
Additional paid-in capital 66,481,340 65,949,723
Less: common stock held in treasury, at cost; 52,000 shares at March 31, 2023 and December 31, 2022 (522,500) (522,500)
Accumulated deficit (65,846,635) (63,062,721)
Statutory reserve 6,578 6,578
Accumulated other comprehensive loss (209,467) (213,137)
Total Avalon GloboCare Corp. stockholders’ equity 19,910,342 11,158,948
Non-controlling interest
Total Equity 19,910,342 11,158,948
Total Liabilities and Equity $ 30,972,242 $ 19,751,905

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