Balance Sheet

v3.19.3
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 7,826,949 $ 8,716,874
Restricted cash 169,044 138,078
Accounts receivable, net 1,339,499 806,350
Income taxes receivable
Notes receivable - current portion 164,640 149,349
Deferred franchise costs - current portion 738,341 611,047
Prepaid expenses and other current assets 1,055,135 882,290
Total current assets 11,293,608 11,303,988
Property and equipment, net 5,698,143 3,658,007
Operating lease right-of-use asset 13,149,467
Notes receivable, net of current portion and reserve 2,827 128,723
Deferred franchise costs, net of current portion 3,618,751 2,878,163
Intangible assets, net 3,566,105 1,634,060
Goodwill 4,123,176 3,225,145
Deposits and other assets 326,633 599,627
Total assets 41,778,710 23,427,713
Current liabilities:    
Accounts payable 1,682,685 1,253,274
Accrued expenses 320,821 266,322
Co-op funds liability 169,044 104,057
Payroll liabilities 1,960,536 2,035,658
Notes payable - current portion 1,000,000 1,100,000
Deferred rent - current portion 136,550
Operating lease liability - current portion 2,195,852
Finance lease liability - current portion 23,656
Deferred franchise and regional developer fee revenue - current portion 2,750,944 2,370,241
Deferred revenue from company clinics 2,818,320 2,529,497
Other current liabilities 446,277 477,528
Total current liabilities 13,368,135 10,273,127
Notes payable, net of current portion
Deferred rent, net of current portion 721,730
Operating lease liability - net of current portion 11,798,120
Finance lease liability - net of current portion 40,689
Deferred franchise and regional developer fee revenue, net of current portion 12,654,095 11,239,221
Deferred tax liability 86,633 76,672
Other liabilities 27,230 389,362
Total liabilities 37,974,902 22,700,112
Commitments and contingencies
Stockholders' equity:    
Series A preferred stock, $0.001 par value; 50,000 shares authorized, 0 issued and outstanding, as of September 30, 2019 and December 31, 2018
Common stock, $0.001 par value; 20,000,000 shares authorized, 13,894,621 shares issued and 13,878,859 shares outstanding as of September 30, 2019 and 13,757,200 shares issued and 13,742,530 outstanding as of December 31, 2018 13,895 13,757
Additional paid-in capital 39,253,617 38,189,251
Treasury stock 15,762 shares as of September 30, 2019 and 14,670 shares as of December 31, 2018, at cost (111,040) (90,856)
Accumulated deficit (35,352,764) (37,384,651)
Total The Joint Corp. stockholders' equity 3,803,708 727,501
Non-controlling Interest (100) (100)
Total equity 3,803,808 727,601
Total liabilities and stockholders' equity $ 41,778,710 $ 23,427,713

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