Avalon GloboCare Files Q2 2024 10-Q

TL;DR

Avalon GloboCare filed its Q2 10-Q. Financials and operations update.

AI Summary

Avalon GloboCare Corp. filed its 10-Q for the quarterly period ended June 30, 2024. The company, incorporated in Delaware, operates in the Biological Products sector. Its principal executive offices are located at 4400 Route 9 South, Suite 3100, Freehold, New Jersey.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Avalon GloboCare Corp. during the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly filing providing financial and operational information, not indicating immediate high risk.

Key Numbers

• 000-38728 — Commission File Number (Identifies the company's filing with the SEC.)
• 07728 — ZIP Code (Part of the company's principal executive office address.)

Key Players & Entities

• Avalon GloboCare Corp. (company) — Registrant
• June 30, 2024 (date) — Quarterly period end date
• Delaware (location) — State of incorporation
• 4400 Route 9 South, Suite 3100, Freehold, New Jersey 07728 (location) — Principal executive offices address
• 000-38728 (dollar_amount) — Commission File Number

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share ALBT The Nasdaq Capital Marke
• $7 — orking capital deficit of approximately $7, 880,000 at June 30, 2024 and had incur

Filing Documents

• ea0210837-10q_avalon.htm (10-Q) — 1546KB
• ea021083701ex31-1_avalon.htm (EX-31.1) — 11KB
• ea021083701ex31-2_avalon.htm (EX-31.2) — 12KB
• ea021083701ex32-1_avalon.htm (EX-32.1) — 4KB
• ea021083701ex32-2_avalon.htm (EX-32.2) — 4KB
• 0001213900-24-070762.txt ( ) — 8724KB
• avco-20240630.xsd (EX-101.SCH) — 83KB
• avco-20240630_cal.xml (EX-101.CAL) — 48KB
• avco-20240630_def.xml (EX-101.DEF) — 429KB
• avco-20240630_lab.xml (EX-101.LAB) — 714KB
• avco-20240630_pre.xml (EX-101.PRE) — 423KB
• ea0210837-10q_avalon_htm.xml (XML) — 1005KB

– Financial Information

Part I – Financial Information

Unaudited Financial Statements

Item 1. Unaudited Financial Statements 1 Condensed Consolidated Balance Sheets – At June 30, 2024 (Unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) – For the Three and Six Months Ended June 30, 2024 and 2023 2 Condensed Consolidated Statements of Changes in Equity (Unaudited) — For the Three and Six Months Ended June 30, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows (Unaudited) – For the Six Months Ended June 30, 2024 and 2023 5 Notes to Unaudited Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 33

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 44

Controls and Procedures

Item 4. Controls and Procedures 44

– Other Information

Part II – Other Information

Legal Proceedings

Item 1. Legal Proceedings 45

Risk Factors

Item 1A. Risk Factors 45

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 45

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 45

Other Information

Item 5. Other Information 45

Exhibits

Item 6. Exhibits 46 Exhibit Index 46

Signatures

Signatures 47 i PART 1 - FINANCIAL INFORMATION Item 1. Financial Statements. AVALON GLOBOCARE CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2024 2023 (Unaudited) ASSETS CURRENT ASSETS: Cash $ 200,572 $ 285,400 Rent receivable 89,441 197,473 Prepaid expense and other current assets 422,868 367,994 Total Current Assets 712,881 850,867 NON-CURRENT ASSETS: Operating lease right-of-use assets, net 67,373 128,250 Property and equipment, net 33,418 38,083 Investment in real estate, net 7,107,062 7,191,404 Equity method investments, net 11,399,899 12,095,020 Other non-current assets 195,339 278,912 Total Non-current Assets 18,803,091 19,731,669 Total Assets $ 19,515,972 $ 20,582,536 LIABILITIES AND EQUITY CURRENT LIABILITIES: Accrued professional fees $ 1,626,863 $ 1,804,100 Accrued research and development fees 208,772 208,772 Accrued payroll liability and compensation 611,440 588,722 Accrued litigation settlement 424,450 450,000 Accrued liabilities and other payables 450,167 272,915 Accrued liabilities and other payables - related parties 721,570 206,458 Operating lease obligation 85,373 129,396 Advance from pending sale of noncontrolling interest - related party 2,486,241 485,714 Equity method investment payable - 666,667 Derivative liability 292,715 24,796 Convertible note payable, net 1,685,595 1,925,146 Total Current Liabilities 8,593,186 6,762,686 NON-CURRENT LIABILITIES: Operating lease obligation - noncurrent portion - 4,855 Note payable, net 5,655,833 5,596,219 Loan payable - related party 850,000 850,000 Total Non-current Liabilities 6,505,833 6,451,074 Total Liabilities 15,099,019 13,213,760 Commitments and Contingencies (Note 15) EQUITY: Preferred stock, $ 0.0001 par value; 10,000,000 shares authorized; Series A Convertible Preferred Stock, 9,000 shares issued and outstanding a

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View this 10-Q filing on SEC EDGAR