Balance Sheet

v3.19.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 8,086,426 $ 8,716,874
Restricted cash 111,065 138,078
Accounts receivable, net 1,078,558 806,350
Income taxes receivable 159 268
Notes receivable - current portion 153,114 149,349
Deferred franchise costs - current portion 644,560 611,047
Prepaid expenses and other current assets 830,571 882,022
Total current assets 10,904,453 11,303,988
Property and equipment, net 4,211,550 3,658,007
Operating lease right-of-use asset 9,977,018
Notes receivable, net of current portion and reserve 89,004 128,723
Deferred franchise costs, net of current portion 3,034,372 2,878,163
Intangible assets, net 2,167,522 1,634,060
Goodwill 3,225,145 3,225,145
Deposits and other assets 330,653 599,627
Total assets 33,939,717 23,427,713
Current liabilities:    
Accounts payable 1,216,513 1,253,274
Accrued expenses 152,127 266,322
Co-op funds liability 111,065 104,057
Payroll liabilities 884,006 2,035,658
Notes payable - current portion 1,000,000 1,100,000
Deferred rent - current portion 136,550
Operating lease liability - current portion 1,831,056
Finance lease liability - current portion 22,507
Deferred franchise revenue - current portion 2,521,297 2,370,241
Deferred revenue from company clinics 2,527,032 2,529,497
Other current liabilities 598,276 477,528
Total current liabilities 10,863,879 10,273,127
Notes payable, net of current portion
Deferred rent, net of current portion 721,730
Long-term lease obligation 9,031,909
Finance lease liability - net of current portion 52,812
Deferred franchise revenue, net of current portion 11,811,665 11,239,221
Deferred tax liability 79,962 76,672
Other liabilities 27,230 389,362
Total liabilities 31,867,457 22,700,112
Commitments and contingencies
Equity:    
Series A preferred stock, $0.001 par value; 50,000 shares authorized, 0 issued and outstanding, as of March 31, 2019 and December 31, 2018
Common stock, $0.001 par value; 20,000,000 shares authorized, 13,800,004 shares issued and 13,785,334 shares outstanding as of March 31, 2019 and 13,757,200 shares issued and 13,742,530 outstanding as of December 31, 2018 13,800 13,757
Additional paid-in capital 38,581,223 38,189,251
Treasury stock 14,670 shares as of March 31, 2019 and December 31, 2018, at cost (90,856) (90,856)
Accumulated deficit (36,431,807) (37,384,451)
Total The Joint Corp. stockholders' equity 2,072,360 727,701
Non-controlling Interest 100 100
Total equity 2,072,260 727,601
Total liabilities and equity $ 33,939,717 $ 23,427,713

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