Balance Sheet

v3.20.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 10,712,846 $ 8,455,989
Restricted cash 256,623 185,888
Accounts receivable, net 1,835,522 2,645,085
Notes receivable, net 89,004 128,724
Deferred franchise and regional development costs - current portion 789,968 765,508
Prepaid expenses and other current assets 1,140,551 1,122,478
Total current assets 14,824,514 13,303,672
Property and equipment, net 8,059,393 6,581,588
Operating lease right-of-use asset 12,430,910 12,486,672
Deferred franchise and regional development costs, net of current portion 3,692,387 3,627,225
Intangible assets, net 2,863,172 3,219,791
Goodwill 4,150,461 4,150,461
Deposits and other assets 393,284 336,258
Total assets 46,414,121 43,705,667
Current liabilities:    
Accounts payable 1,946,474 1,525,838
Accrued expenses 436,512 216,814
Co-op funds liability 256,624 185,889
Payroll liabilities 1,117,086 2,844,107
Operating lease liability - current portion 2,497,097 2,313,109
Finance lease liability - current portion 46,607 24,253
Deferred franchise and regional developer fee revenue - current portion 2,817,069 2,740,954
Deferred revenue from company clinics 3,288,156 3,196,664
Other current liabilities 481,338 518,686
Total current liabilities 12,886,963 13,566,314
Operating lease liability - net of current portion 11,856,766 11,901,040
Finance lease liability - net of current portion 156,227 34,398
Debt under the Credit Agreement 2,000,000 0
Deferred franchise and regional developer fee revenue, net of current portion 12,508,515 12,366,322
Deferred tax liability 55,457 89,863
Other liabilities 27,229 27,230
Total liabilities 39,491,157 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 March 31, 2020 and December 31, 2019 0 0
Common stock, $0.001 par value; 20,000,000 shares authorized, 13,949,772 shares issued and 13,933,759 shares outstanding as of March 31, 2020 and 13,898,694 shares issued and 13,882,932 outstanding as of December 31, 2019 13,950 13,899
Additional paid-in capital 39,846,177 39,454,937
Treasury stock 16,013 shares as of March 31, 2020 and 15,762 shares as of December 31, 2019, at cost (114,815) (111,041)
Accumulated deficit (32,822,448) (33,637,395)
Total The Joint Corp. stockholders' equity 6,922,864 5,720,400
Non-controlling Interest 100 100
Total equity 6,922,964 5,720,500
Total liabilities and stockholders' equity $ 46,414,121 $ 43,705,667

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