Change Agents Corporation.

For the period ended Mar 31, 2025. Filed May 13, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 13, 2025

CHGA$0.78-4.4%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Financial Statements

	March 31,	December 31,
	2025	2024
(Unaudited)
ASSETS
CURRENT ASSETS:
Cash	$1,369,586	$2,856,309
Rent receivable	81,854	80,829
Receivable from sale of equity method investment, current portion	975,000	-
Prepaid expense and other current assets	367,818	299,360
Total Current Assets	2,794,258	3,236,498
NON-CURRENT ASSETS:
Operating lease right-of-use assets, net	113,253	4,709
Receivable from sale of equity method investment, noncurrent portion	675,000	-
Property and equipment, net	10,660	12,912
Investment in real estate, net	6,980,551	7,022,721
Equity method investments, net	-	10,636,544
Other non-current assets	36,067	71,794
Total Non-current Assets	7,815,531	17,748,680
Total Assets	$10,609,789	$20,985,178
LIABILITIES AND (DEFICIT) EQUITY
CURRENT LIABILITIES:
Accrued professional fees	$984,869	$611,462
Accrued research and development fees	153,772	153,772
Accrued payroll liability and compensation	550,931	501,258
Accrued litigation settlement	373,450	373,450
Accrued liabilities and other payables	524,872	434,117
Accrued liabilities and other payables - related parties	100,000	732,916
Operating lease obligation, current portion	67,547	10,709
Advance from pending sale of noncontrolling interest - related party	3,328,078	3,108,106
Derivative liability	223,052	127,545
Note payable, net	5,745,254	5,715,447
Convertible note payable, net	2,397,528	2,113,773
Total Current Liabilities	14,449,353	13,882,555
NON-CURRENT LIABILITIES:
Operating lease obligation, noncurrent portion	51,706	-
Total Non-current Liabilities	51,706	-
Total Liabilities	14,501,059	13,882,555
Commitments and Contingencies (Note 15)
(DEFICIT) EQUITY:
Preferred stock, $0.0001 par value; 10,000,000 shares authorized;
Series A convertible preferred stock, 0 and 9,000 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively	-	9,000,000
Series B convertible preferred stock, 0 and 11,000 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively	-	11,000,000
Series C convertible preferred stock, 3,500 shares issued and outstanding at March 31, 2025 and December 31, 2024; Liquidation preference $3.5 million at March 31, 2025	3,500,000	3,500,000
Series D convertible preferred stock, 5,000 and 0 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively; Liquidation preference $5 million at March 31, 2025	8,837,527	-
Common stock, $0.0001 par value; 100,000,000 shares authorized;
1,655,134 shares issued and 1,651,667 shares outstanding at March 31, 2025; 1,445,979 shares issued and 1,442,512 shares outstanding at December 31, 2024	166	145
Additional paid-in capital	74,673,916	72,023,525
Less: common stock held in treasury, at cost;
3,467 shares at March 31, 2025 and December 31, 2024	(522,500)	(522,500)
Accumulated deficit	(90,155,236)	(87,673,125)
Statutory reserve	6,578	6,578
Accumulated other comprehensive loss	(231,721)	(232,000)
Total Avalon GloboCare Corp. stockholders’ (deficit) equity	(3,891,270)	7,102,623
Noncontrolling interest	-	-
Total (Deficit) Equity	(3,891,270)	7,102,623
Total Liabilities and (Deficit) Equity	$10,609,789	$20,985,178

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

	For the Three Months Ended
	March 31,
	2025	2024
REAL PROPERTY RENTAL REVENUE	$349,800	$314,588
REAL PROPERTY OPERATING EXPENSES	280,390	263,126
REAL PROPERTY OPERATING INCOME	69,410	51,462
INCOME FROM EQUITY METHOD INVESTMENT - LAB SERVICES MSO	392,677	107,469
OTHER OPERATING EXPENSES:
Advertising and marketing expenses	71,150	45,000
Professional fees	1,691,579	442,335
Compensation and related benefits	340,420	353,571
Other general and administrative expenses	165,713	161,087
Total Other Operating Expenses	2,268,862	1,001,993
LOSS FROM OPERATIONS	(1,806,775)	(843,062)
OTHER (EXPENSE) INCOME
Interest expense - amortization of debt discount and debt issuance costs	(313,562)	(272,196)
Interest expense - other	(246,456)	(236,215)
Interest expense - related party	-	(10,596)
Change in fair value of derivative liability	(114,360)	31,212
Other expense	(958)	(36,656)
Total Other Expense, net	(675,336)	(524,451)
LOSS BEFORE INCOME TAXES	(2,482,111)	(1,367,513)
INCOME TAXES	-	-
NET LOSS	$(2,482,111)	$(1,367,513)
LESS: NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST	-	-
NET LOSS AFTER NONCONTROLLING INTEREST	(2,482,111)	(1,367,513)
DEEMED CONTRIBUTION ON EXCHANGE OF EQUITY INSTRUMENTS	162,473	-
NET LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS	$(2,319,638)	$(1,367,513)
NET LOSS PER COMMON SHARE ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS:
Basic and diluted	$(1.43)	$(1.86)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic and diluted	1,624,629	735,225
COMPREHENSIVE LOSS:
NET LOSS	$(2,482,111)	$(1,367,513)
OTHER COMPREHENSIVE INCOME (LOSS)
Unrealized foreign currency translation gain (loss)	279	(2,920)
COMPREHENSIVE LOSS	(2,481,832)	(1,370,433)
LESS: COMPREHENSIVE LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST	-	-
COMPREHENSIVE LOSS ATTRIBUTABLE TO AVALON GLOBOCARE CORP. COMMON SHAREHOLDERS	$(2,481,832)	$(1,370,433)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN (DEFICIT) EQUITY

For the Three Months Ended March 31, 2025

	Avalon GloboCare Corp. Stockholders’ (Deficit) Equity
Series A Preferred Stock · Series B Preferred Stock · Series C Preferred Stock · Series D Preferred Stock · Common Stock · Treasury Stock · Accumulated
Number · Number · Number · Number · Number · Additional · Number · Other · Total
of · of · of · of · of · Paid-in · of · Accumulated · Statutory · Comprehensive · Noncontrolling · Equity
Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount · Capital · Shares · Amount · Deficit · Reserve · Loss · Interest · (Deficit)
Balance, January 1, 2025	9,000		$9,000,000	11,000		$11,000,000	3,500	$3,500,000	-	$	-	1,445,979	$145	$72,023,525	(3,467)	$(522,500)	$(87,673,125)	$6,578	$(232,000)	$	-	$7,102,623
Issuance of common stock upon cashless exercise of stock warrants	-		-	-		-	-	-	-		-	186,877	19	(19)	-	-	-	-	-		-	-
Issuance of common stock for services	-		-	-		-	-	-	-		-	22,278	2	111,230	-	-	-	-	-		-	111,232
Reclassification of derivative liability to equity	-		-	-		-	-	-	-		-	-	-	18,853	-	-	-	-	-		-	18,853
Series D Convertible Preferred Stock issued in exchange of Series A Convertible Preferred Stock	(9,000)		(9,000,000)	-		-	-	-	5,000		8,837,527	-	-	162,473	-	-	-	-	-		-	-
Series B Convertible Preferred Stock extinguished related to sale of equity method investment	-		-	(11,000)		(11,000,000)	-	-	-		-	-	-	2,348,695	-	-	-	-	-		-	(8,651,305)
Stock-based compensation	-		-	-		-	-	-	-		-	-	-	9,159	-	-	-	-	-		-	9,159
Foreign currency translation adjustment	-		-	-		-	-	-	-		-	-	-	-	-	-	-	-	279		-	279
Net loss for the three months ended March 31, 2025	-		-	-		-	-	-	-		-	-	-	-	-	-	(2,482,111)	-	-		-	(2,482,111)
Balance, March 31, 2025	-	$	-	-	$	-	3,500	$3,500,000	5,000		$8,837,527	1,655,134	$166	$74,673,916	(3,467)	$(522,500)	$(90,155,236)	$6,578	$(231,721)	$	-	$(3,891,270)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

For the Three Months Ended March 31, 2024

	Avalon GloboCare Corp. Stockholders’ Equity
Series A Preferred Stock · Series B Preferred Stock · Common Stock · Treasury Stock · Accumulated
Number · Number · Number · Additional · Number · Other
of · of · of · Paid-in · of · Accumulated · Statutory · Comprehensive · Noncontrolling · Total
Shares · Amount · Shares · Amount · Shares · Amount · Capital · Shares · Amount · Deficit · Reserve · Loss · Interest · Equity
Balance, January 1, 2024	9,000	$9,000,000	11,000	$11,000,000	736,769	$74	$67,886,082	(3,467)	$(522,500)	$(79,769,731)	$6,578	$(231,727)	$	-	$7,368,776
Issuance of common stock as convertible note payable commitment fee	-	-	-	-	7,000	1	41,999	-	-	-	-	-		-	42,000
Stock-based compensation	-	-	-	-	-	-	13,533	-	-	-	-	-		-	13,533
Foreign currency translation adjustment	-	-	-	-	-	-	-	-	-	-	-	(2,920)		-	(2,920)
Net loss for the three months ended March 31, 2024	-	-	-	-	-	-	-	-	-	(1,367,513)	-	-		-	(1,367,513)
Balance, March 31, 2024	9,000	$9,000,000	11,000	$11,000,000	743,769	$75	$67,941,614	(3,467)	$(522,500)	$(81,137,244)	$6,578	$(234,647)	$	-	$6,053,876

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.