Avalon GloboCare Corp. (AVCO) financial statements (2022 and earlier)

Company profile

Business Address 4400 ROUTE 9
FREEHOLD, NJ 07728
State of Incorp. DE
Fiscal Year End December 31
SIC 8742 - Management Consulting Services (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments8087277652,2523,0272,8860
Cash and cash equivalents8087277652,2523,0272,8860
Receivables34 24423870 
Inventory, net of allowances, customer advances and progress billings   133  
Inventory   133  
Prepaid expense18731631693650 
Deferred costs139222     
Other undisclosed current assets1573077191,149131700 
Total current assets:1,3231,2861,5713,6253,2353,7060
Noncurrent Assets
Operating lease, right-of-use asset145137 
Property, plant and equipment362479601250480 
Long-term investments and receivables   385   
Long-term investments   385   
Intangible assets, net (including goodwill), including:   1,2561,583  
Goodwill    (924)  
Intangible assets, net (excluding goodwill)   1,5832,593  
Other undisclosed intangible assets, net (including goodwill)   (328)(86)  
Deferred costs110144     
Other noncurrent assets75      
Other undisclosed noncurrent assets8,2288,3198,3187,8807,803  
Total noncurrent assets:8,9199,0808,9199,7709,4340 
TOTAL ASSETS:10,24210,36610,49113,39612,6693,7070
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:2,2031,4541,816870224221
Accounts payable 878470  
Accrued liabilities1,8961,2131,2432548314 
Employee-related liabilities307154488529   
Taxes payable   5321 
Interest and dividends payable   75138  
Other undisclosed accounts payable and accrued liabilities     (13)1
Debt    1,500  
Deferred rent credit 241314
Due to related parties390  100450975
Deferred revenue and credits13  
Other undisclosed current liabilities1,8091,1151,0071583,17341 
Total current liabilities:4,4022,5922,8351,1425,3601606
Noncurrent Liabilities
Long-term debt and lease obligation2,7563,2672,6001,000   
Long-term debt, excluding current maturities2,7503,2002,6001,000   
Operating lease, liability667 
Liabilities, other than long-term debt 390590    
Due to related parties 390590    
Other undisclosed noncurrent liabilities(6)      
Total noncurrent liabilities:2,7563,6573,1901,000   
Total liabilities:7,1586,2496,0252,1425,3601606
Stockholders' equity
Stockholders' equity attributable to parent, including:3,0844,1174,46512,1167,8943,546(5)
Common stock9887761
Treasury stock, value(523)(523)(523)(523)   
Additional paid in capital54,88946,85634,59324,15311,4903,68128
Accumulated other comprehensive loss(165)(191)(258)(237)(92)(95) 
Accumulated deficit(51,132)(42,041)(29,362)(11,292)(3,518)(53)(35)
Other undisclosed stockholders' equity attributable to parent777777 
Stockholders' equity attributable to noncontrolling interest   (862)(585)  
Total stockholders' equity:3,0844,1174,46511,2547,3093,546(5)
TOTAL LIABILITIES AND EQUITY:10,24210,36610,49113,39612,6693,7070

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues1,3911,3781,5461,5621,078616 
Revenue, net1,051616 
Revenue from related parties401,2071,1561,121
Other undisclosed gross profit(976)(988)(1,206)(1,581)(1,028)(73) 
Gross profit:415390340(19)50543 
Operating expenses(9,248)(12,844)(19,717)(8,019)(4,126)(466)(31)
Other undisclosed operating income   407198  
Operating income (loss):(8,834)(12,454)(19,377)(7,631)(3,878)77(31)
Nonoperating income (expense)
(Foreign Currency Transaction Gain (Loss), before Tax)
  13(107)(57)(95) 
Interest and debt expense(200)(169)(83)(315)(138)  
Loss from continuing operations before equity method investments, income taxes:(9,034)(12,623)(19,447)(8,053)(4,073)(18)(31)
Loss from equity method investments  (56)(53)   
Other undisclosed income (loss) from continuing operations before income taxes(56)(57)1,4335324  
Loss from continuing operations before income taxes:(9,090)(12,679)(18,070)(8,052)(4,050)(18)(31)
Income tax expense (benefit)2,5753,2567,316  (22) 
Loss before gain (loss) on sale of properties:(6,515)(9,423)(10,755)(8,052)(4,050)(40)(31)
Other undisclosed net loss (3,256)(7,316)    
Net loss:(6,515)(12,679)(18,070)(8,052)(4,050)(40)(31)
Net income attributable to noncontrolling interest9,090      
Other undisclosed net income (loss) attributable to parent(11,666)    95 
Net income (loss) attributable to parent:(9,090)(12,679)(18,070)(8,052)(4,050)56(31)
Other undisclosed net income available to common stockholders, basic9,151  278585  
Net income (loss) available to common stockholders, basic:60(12,679)(18,070)(7,774)(3,464)56(31)
Other undisclosed net loss available to common stockholders, diluted    (97)  
Net income (loss) available to common stockholders, diluted:60(12,679)(18,070)(7,774)(3,562)56(31)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net loss:(6,515)(12,679)(18,070)(8,052)(4,050)(40)(31)
Other comprehensive income (loss)(25)(67)(21)143(3)  
Other undisclosed comprehensive income (loss)(2,525)134 (10)590  
Comprehensive loss:(9,065)(12,612)(18,091)(7,919)(3,462)(40)(31)
Comprehensive income, net of tax, attributable to noncontrolling interest9,090  277585  
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(9,090)  (554)(1,171)1 
Comprehensive loss, net of tax, attributable to parent:(9,065)(12,612)(18,091)(8,196)(4,047)(39)(31)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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