Balance Sheet

v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 18,305,526 $ 8,455,989
Restricted cash 140,400 185,888
Accounts receivable, net 1,813,684 2,645,085
Notes receivable, net 10,326 128,724
Deferred franchise and regional development costs, current portion 828,842 765,508
Prepaid expenses and other current assets 921,559 1,122,478
Total current assets 22,020,337 13,303,672
Property and equipment, net 8,014,676 6,581,588
Operating lease right-of-use asset 11,555,086 12,486,672
Deferred franchise and regional development costs, net of current portion 3,757,799 3,627,225
Intangible assets, net 2,160,944 3,219,791
Goodwill 4,150,461 4,150,461
Deposits and other assets 393,508 336,258
Total assets 52,052,811 43,705,667
Current liabilities:    
Accounts payable 1,239,522 1,525,838
Accrued expenses 894,122 216,814
Co-op funds liability 140,400 185,889
Payroll liabilities 2,584,487 2,844,107
Operating lease liability, current portion 2,756,838 2,313,109
Finance lease liability, current portion 69,380 24,253
Deferred franchise and regional developer fee revenue, current portion 2,813,515 2,740,954
Deferred revenue from company clinics 3,228,368 3,196,664
Debt under the Paycheck Protection Program, current portion 1,656,292 0
Other current liabilities 545,834 518,686
Total current liabilities 15,928,758 13,566,314
Operating lease liability, net of current portion 10,798,802 11,901,040
Finance lease liability, net of current portion 150,524 34,398
Debt under the Credit Agreement and Paycheck Protection Program, net of current portion 3,071,678 0
Deferred franchise and regional developer fee revenue, net of current portion 12,581,885 12,366,322
Deferred tax liability 72,841 89,863
Other liabilities 27,230 27,230
Total liabilities 42,631,718 37,985,167
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, 2020 and December 31, 2019 0 0
Common stock, $0.001 par value; 20,000,000 shares authorized, 14,073,244 shares issued and 14,057,201 shares outstanding as of September 30, 2020 and 13,898,694 shares issued and 13,882,932 outstanding as of December 31, 2019 14,073 13,899
Additional paid-in capital 40,625,128 39,454,937
Treasury stock 16,043 shares as of September 30, 2020 and 15,762 shares as of December 31, 2019, at cost (115,303) (111,041)
Accumulated deficit (31,102,905) (33,637,395)
Total The Joint Corp. stockholders' equity 9,420,993 5,720,400
Non-controlling Interest 100 100
Total equity 9,421,093 5,720,500
Total liabilities and stockholders' equity $ 52,052,811 $ 43,705,667

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