| ABVC BIOPHARMA, INC. AND SUBSIDIARIES |
| CONSOLIDATED BALANCE SHEETS |
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December 31, |
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December 31, |
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2021 |
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2020 |
| ASSETS |
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| Current Assets |
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Cash and cash equivalents |
$ |
5,828,548 |
|
$ |
4,273,208 |
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Restricted cash and cash equivalents |
|
736,667 |
|
|
728,163 |
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Accounts receivable, net |
|
280,692 |
|
|
159,712 |
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Accounts receivable – related parties, net |
|
145,399 |
|
|
143,435 |
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Due from related parties |
|
1,286,618 |
|
|
696,255 |
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Inventory, net |
|
25,975 |
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|
– |
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Short-term investments |
|
108,147 |
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|
– |
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Prepayment for long-term investments |
|
684,720 |
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|
– |
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Prepaid expense and other current assets |
|
528,354 |
|
|
172,193 |
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Total Current Assets |
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9,625,120 |
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|
6,172,966 |
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| Property and equipment, net |
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525,881 |
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|
514,834 |
| Operating lease right-of-use assets |
|
1,471,899 |
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|
1,772,747 |
| Goodwill, net |
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– |
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– |
| Long-term investments |
|
932,755 |
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|
1,190,727 |
| Deferred tax assets |
|
981,912 |
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|
1,790,597 |
| Prepaid expenses – noncurrent |
|
119,309 |
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|
119,315 |
| Security deposits |
|
41,157 |
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|
45,519 |
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Total Assets |
$ |
13,698,033 |
|
$ |
11,606,705 |
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| LIABILITIES AND EQUITY |
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| Current Liabilities |
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Accounts payable |
$ |
– |
|
$ |
23,044 |
| |
Short-term bank loans |
|
1,640,000 |
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|
1,629,000 |
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Short term loan |
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– |
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|
100,000 |
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Notes payable |
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– |
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|
106,800 |
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Accrued expenses and other current liabilities |
|
1,300,803 |
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|
2,118,854 |
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Advance from customers |
|
10,985 |
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|
12,070 |
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Operating lease liability – current portion |
|
347,100 |
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|
316,178 |
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Due to related parties |
|
393,424 |
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|
288,445 |
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Convertible notes payable – related parties, current portion |
|
– |
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|
250,000 |
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Total Current Liabilities |
|
3,692,312 |
|
|
4,844,391 |
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Paycheck Protection Program Loan Payable |
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– |
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|
124,400 |
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Tenant security deposit |
|
10,580 |
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|
19,280 |
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Operating lease liability – noncurrent portion |
|
1,124,799 |
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1,456,567 |
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Convertible notes payable – noncurrent portion |
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– |
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|
2,500,000 |
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Total Liabilities |
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4,827,691 |
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8,944,638 |
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| Equity |
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Preferred stock, $0.001 par value, 20,000,000 authorized, nil shares issued and outstanding |
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– |
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– |
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Common stock, $0.001 par value, 100,000,000 authorized, 28,926,322 and 24,420,526 shares issued and outstanding |
|
28,926 |
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|
24,420 |
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Additional paid-in capital |
|
58,113,667 |
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40,751,807 |
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Stock subscription receivable |
|
(2,257,400) |
|
|
(3,160,360) |
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Accumulated deficit |
|
(38,481,200) |
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(25,642,387) |
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Accumulated other comprehensive income |
|
539,660 |
|
|
564,860 |
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Treasury stock |
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(9,100,000) |
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(9,100,000) |
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Total Stockholders’ equity |
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8,843,653 |
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|
3,438,340 |
| Noncontrolling Interest |
|
26,689 |
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(776,273) |
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Total Equity |
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8,870,342 |
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|
2,662,067 |
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| Total Liabilities and Equity |
$ |
13,698,033 |
|
$ |
11,606,705 |
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