Balance Sheet

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 8,455,989 $ 8,716,874
Restricted cash 185,888 138,078
Accounts receivable, net 2,645,085 806,350
Income taxes receivable 0 268
Notes receivable, net - current portion 128,724 149,349
Deferred franchise costs - current portion 765,508 611,047
Prepaid expenses and other current assets 1,122,478 882,022
Total current assets 13,303,672 11,303,988
Property and equipment, net 6,581,588  
Property and equipment, net   3,658,007
Operating lease right-of-use asset 12,486,672  
Notes receivable net - net of current portion 0 128,723
Deferred franchise costs, net of current portion 3,627,225 2,878,163
Intangible assets, net 3,219,791 1,634,060
Goodwill 4,150,461 3,225,145
Deposits and other assets 336,258 599,627
Total assets 43,705,667 23,427,713
Current liabilities:    
Accounts payable 1,525,838 1,253,274
Accrued expenses 216,814 266,322
Co-op funds liability 185,889 104,057
Payroll liabilities 2,844,107 2,035,658
Notes payable - current portion 0 1,100,000
Deferred rent - current portion   136,550
Operating lease liability - current portion 2,313,109  
Finance lease liability - current portion 24,253  
Deferred franchise and regional developer fee revenue - current portion 2,740,954 2,370,241
Deferred revenue from company clinics 3,196,664 2,529,497
Other current liabilities 518,686 477,528
Total current liabilities 13,566,314 10,273,127
Deferred rent, net of current portion   721,730
Operating lease liability - net of current portion 11,901,040  
Finance lease liability - net of current portion 34,398  
Deferred franchise and regional developer fee revenue, net of current portion 12,366,322 11,239,221
Deferred tax liability 89,863 76,672
Other liabilities 27,230 389,362
Total liabilities 37,985,167 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 December 31, 2019 and 2018 0 0
Common stock, $0.001 par value; 20,000,000 shares authorized, 13,898,694 shares issued and 13,882,932 shares outstanding as of December 31, 2019 and 13,757,200 shares issued and 13,742,530 outstanding as of December 31, 2018 13,899 13,757
Additional paid-in capital 39,454,937 38,189,251
Treasury stock 15,762 shares as of December 31, 2019 and 14,670 shares as of December 31, 2018, at cost (111,041) (90,856)
Accumulated deficit (33,637,395) (37,384,651)
Total The Joint Corp. stockholders' equity 5,720,400 727,501
Non-controlling Interest 100 100
Total equity 5,720,500 727,601
Total liabilities and stockholders' equity $ 43,705,667 $ 23,427,713

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