Balance Sheet

v3.19.2
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 9,485,212 $ 8,716,874
Restricted cash 129,220 138,078
Accounts receivable, net 1,033,479 806,350
Notes receivable - current portion 163,573 149,349
Deferred franchise costs - current portion 710,796 611,047
Prepaid expenses and other current assets 887,676 882,290
Total current assets 12,409,956 11,303,988
Property and equipment, net 4,963,037 3,658,007
Operating lease right-of-use asset 10,030,737
Notes receivable, net of current portion and reserve 41,683 128,723
Deferred franchise costs, net of current portion 3,485,644 2,878,163
Intangible assets, net 1,975,835 1,634,060
Goodwill 3,225,145 3,225,145
Deposits and other assets 337,379 599,627
Total assets 36,469,416 23,427,713
Current liabilities:    
Accounts payable 1,199,341 1,253,274
Accrued expenses 178,949 266,322
Co-op funds liability 129,220 104,057
Payroll liabilities 1,602,916 2,035,658
Notes payable - current portion 1,000,000 1,100,000
Deferred rent - current portion 136,550
Operating lease liability - current portion 1,827,233
Finance lease liability - current portion 23,075
Deferred franchise and regional developer fee revenue - current portion 2,697,669 2,370,241
Deferred revenue from company clinics 2,677,782 2,529,497
Other current liabilities 540,279 477,528
Total current liabilities 11,876,464 10,273,127
Deferred rent, net of current portion 721,730
Long-term lease obligation 9,049,948
Finance lease liability - net of current portion 46,826
Deferred franchise and regional developer fee revenue, net of current portion 12,652,780 11,239,221
Deferred tax liability 83,294 76,672
Other liabilities 27,230 389,362
Total liabilities 33,736,542 22,700,112
Stockholders' equity:    
Series A preferred stock, $0.001 par value; 50,000 shares authorized, 0 issued and outstanding, as of June 30, 2019 and December 31, 2018
Common stock, $0.001 par value; 20,000,000 shares authorized, 13,838,016 shares issued and 13,823,346 shares outstanding as of June 30, 2019 and 13,757,200 shares issued and 13,742,530 outstanding as of December 31, 2018 13,838 13,757
Additional paid-in capital 38,779,538 38,189,251
Treasury stock 14,670 shares as of June 30, 2019 and December 31, 2018, at cost (90,856) (90,856)
Accumulated deficit (35,969,746) (37,384,651)
Total The Joint Corp. stockholders' equity 2,732,774 727,501
Non-controlling Interest (100) (100)
Total equity 2,732,874 727,601
Total liabilities and stockholders' equity $ 36,469,416 $ 23,427,713

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