2023 Q1 Form 10-K Financial Statement

#000121390023024687 Filed on March 30, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $296.2K $300.0K $1.202M
YoY Change -0.49% -10.23% -13.57%
Cost Of Revenue $250.0K $250.0K $930.0K
YoY Change 14.44% 5.78% -4.76%
Gross Profit $47.72K $40.00K $272.7K
YoY Change -39.73% -59.12% -34.21%
Gross Profit Margin 16.11% 13.33% 22.69%
Selling, General & Admin $2.620M $2.090M $6.980M
YoY Change 25.39% 3.88% 2.22%
% of Gross Profit 5490.36% 5225.0% 2559.33%
Research & Development $92.35K $190.0K $731.3K
YoY Change -20.85% -45.55% -18.74%
% of Gross Profit 193.52% 475.0% 268.15%
Depreciation & Amortization $61.06K $80.00K $330.7K
YoY Change -28.15% -5.9% 6.08%
% of Gross Profit 127.95% 200.0% 121.26%
Operating Expenses $2.712M $2.280M $9.066M
YoY Change 22.93% -3.42% 907.29%
Operating Profit -$2.664M -$2.240M -$8.793M
YoY Change 25.26% -1.02% 1711.18%
Interest Expense $2.021K -$150.0K $176.0K
YoY Change -103.84% 110.44% -167.45%
% of Operating Profit
Other Income/Expense, Net $36.55K -$40.00K -$11.93M
YoY Change -66.47% -200100.0% -279510.94%
Pretax Income -$2.784M -$2.420M -$11.93M
YoY Change 34.45% 3.67% 31.25%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.784M -$2.420M -$11.93M
YoY Change 34.45% 3.67% 31.25%
Net Earnings / Revenue -939.99% -806.67% -992.44%
Basic Earnings Per Share -$0.28 -$1.28
Diluted Earnings Per Share -$0.28 -$0.25 -$1.28
COMMON SHARES
Basic Shares Outstanding 10.16M shares 99.22M shares 9.329M shares
Diluted Shares Outstanding 10.02M shares 9.329M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $890.0K $1.990M $1.990M
YoY Change 69.11% 146.43% 146.43%
Cash & Equivalents $887.0K $1.991M
Short-Term Investments
Other Short-Term Assets $40.43K $34.03K $250.0K
YoY Change -85.38% -91.99% -41.13%
Inventory
Prepaid Expenses $248.0K
Receivables $130.0K $60.00K $60.00K
Other Receivables $0.00 $80.00K $80.00K
Total Short-Term Assets $1.391M $2.374M $2.370M
YoY Change 52.31% 79.4% 79.13%
LONG-TERM ASSETS
Property, Plant & Equipment $140.1K $138.3K $7.510M
YoY Change -98.23% -61.75% -6.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $21.39M $485.0K $9.480M
YoY Change 4143.84% -5.94% 1738.53%
Other Assets $378.2K $384.4K $380.0K
YoY Change 113.86% 414.93% 85.63%
Total Long-Term Assets $29.58M $17.38M $17.38M
YoY Change 237.87% 94.84% 94.86%
TOTAL ASSETS
Total Short-Term Assets $1.391M $2.374M $2.370M
Total Long-Term Assets $29.58M $17.38M $17.38M
Total Assets $30.97M $19.75M $19.75M
YoY Change 220.34% 92.85% 92.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $102.0K $100.0K $1.220M
YoY Change -94.85% -26.95%
Accrued Expenses $2.890M $2.360M $2.360M
YoY Change -8.86% 0.86% 0.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.176M $3.580M $3.580M
YoY Change 0.56% -18.67% -18.67%
LONG-TERM LIABILITIES
Long-Term Debt $5.340M $4.560M $4.560M
YoY Change 64.8% 65.8% 65.8%
Other Long-Term Liabilities $550.0K $450.0K $450.0K
YoY Change 7527.12% 7527.12%
Total Long-Term Liabilities $5.885M $5.013M $5.010M
YoY Change 81.63% 81.89% 81.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.176M $3.580M $3.580M
Total Long-Term Liabilities $5.885M $5.013M $5.010M
Total Liabilities $11.06M $8.593M $8.590M
YoY Change 31.88% 20.05% 20.01%
SHAREHOLDERS EQUITY
Retained Earnings -$65.85M -$63.06M
YoY Change 23.33%
Common Stock $66.48M $65.95M
YoY Change 20.13%
Preferred Stock
YoY Change
Treasury Stock (at cost) $522.5K $522.5K
YoY Change 0.0%
Treasury Stock Shares 52.00K shares
Shareholders Equity $19.91M $11.16M $11.16M
YoY Change
Total Liabilities & Shareholders Equity $30.97M $19.75M $19.75M
YoY Change 220.34% 92.85% 92.83%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$2.784M -$2.420M -$11.93M
YoY Change 34.45% 3.67% 31.25%
Depreciation, Depletion And Amortization $61.06K $80.00K $330.7K
YoY Change -28.15% -5.9% 6.08%
Cash From Operating Activities -$1.835M -$1.970M -$7.037M
YoY Change 258.92% 14.74% 40.06%
INVESTING ACTIVITIES
Capital Expenditures $20.19K $0.00 $1.749K
YoY Change -1253.43% -100.0% -106.28%
Acquisitions
YoY Change
Other Investing Activities -$9.000M -$9.050M
YoY Change 7499900.0% 22356.58%
Cash From Investing Activities -$20.19K -$9.000M -$9.053M
YoY Change 1053.43% 4999900.0% 13186.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $750.0K 9.000M $17.26M
YoY Change 223.97% 351.85% 233.92%
NET CHANGE
Cash From Operating Activities -$1.835M -1.970M -$7.037M
Cash From Investing Activities -$20.19K -9.000M -$9.053M
Cash From Financing Activities $750.0K 9.000M $17.26M
Net Change In Cash -$1.104M -1.970M $1.183M
YoY Change 292.2% -817.28% 1426.73%
FREE CASH FLOW
Cash From Operating Activities -$1.835M -$1.970M -$7.037M
Capital Expenditures $20.19K $0.00 $1.749K
Free Cash Flow -$1.855M -$1.970M -$7.039M
YoY Change 264.11% 14.74% 40.87%

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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
3084395 usd
CY2022 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
362328 usd
CY2022 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
498509 usd
CY2022 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
4072958 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
2181820 usd
CY2022 avco Issuance Of Common Stock For Settlement Of Loan Payable And Accrued Interest Related Party
IssuanceOfCommonStockForSettlementOfLoanPayableAndAccruedInterestRelatedParty
2888593 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
350000 usd
CY2022 us-gaap Convertible Preferred Stock Converted To Other Securities
ConvertiblePreferredStockConvertedToOtherSecurities
9000000 usd
CY2022 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
340950 usd
CY2022 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
358113 usd
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-47871 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-11930847 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
11158948 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-11930847 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-9090499 usd
CY2022 us-gaap Provision For Other Losses
ProvisionForOtherLosses
2295 usd
CY2021 us-gaap Provision For Other Losses
ProvisionForOtherLosses
8091 usd
CY2022 us-gaap Depreciation
Depreciation
330723 usd
CY2021 us-gaap Depreciation
Depreciation
311761 usd
CY2022 us-gaap Straight Line Rent
StraightLineRent
6821 usd
CY2021 us-gaap Straight Line Rent
StraightLineRent
51246 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
135557 usd
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
127020 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
1106634 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
2110169 usd
CY2022 avco Loss On Equity Method Investment
LossOnEquityMethodInvestment
41863 usd
CY2021 avco Loss On Equity Method Investment
LossOnEquityMethodInvestment
60463 usd
CY2022 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-22285 usd
CY2022 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
3281078 usd
CY2022 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
29606 usd
CY2022 us-gaap Other Noncash Expense
OtherNoncashExpense
344264 usd
CY2022 us-gaap Line Of Credit Assumed1
LineOfCreditAssumed1
600749 usd
CY2022 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
3265 usd
CY2021 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
168 usd
CY2022 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
40500 usd
CY2021 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
33600 usd
CY2022 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
-416 usd
CY2021 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
6847 usd
CY2022 avco Deferred Leasing Costs
DeferredLeasingCosts
27298 usd
CY2021 avco Deferred Leasing Costs
DeferredLeasingCosts
21203 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
45996 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-95133 usd
CY2022 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
331425 usd
CY2021 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
1330890 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
79898 usd
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
200477 usd
CY2022 avco Increase Decrease Operating Lease
IncreaseDecreaseOperatingLease
141556 usd
CY2021 avco Increase Decrease Operating Lease
IncreaseDecreaseOperatingLease
121020 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7037224 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5024479 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1749 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17502 usd
CY2021 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
10332 usd
CY2022 avco Additional Investment In Equity Method Investment
AdditionalInvestmentInEquityMethodInvestment
51999 usd
CY2021 avco Additional Investment In Equity Method Investment
AdditionalInvestmentInEquityMethodInvestment
40301 usd
CY2022 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
8999722 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9053470 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-68135 usd
CY2022 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
390000 usd
CY2022 us-gaap Proceeds From Construction Loans Payable
ProceedsFromConstructionLoansPayable
100000 usd
CY2021 us-gaap Proceeds From Construction Loans Payable
ProceedsFromConstructionLoansPayable
2550262 usd
CY2022 us-gaap Repayments Of Construction Loans Payable
RepaymentsOfConstructionLoansPayable
410000 usd
CY2022 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
3718943 usd
CY2022 avco Proceeds From Issuance Of Balloon Promissory Note
ProceedsFromIssuanceOfBalloonPromissoryNote
4800000 usd
CY2022 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
266454 usd
CY2022 avco Proceeds Received From Equity Offering
ProceedsReceivedFromEquityOffering
735567 usd
CY2021 avco Proceeds Received From Equity Offering
ProceedsReceivedFromEquityOffering
2860304 usd
CY2022 avco Disbursements For Equity Offering Costs
DisbursementsForEquityOfferingCosts
24067 usd
CY2021 avco Disbursements For Equity Offering Costs
DisbursementsForEquityOfferingCosts
240434 usd
CY2022 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
9000000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17263989 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5170132 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10077 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3443 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1183372 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
80961 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
807538 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
726577 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1990910 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
807538 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
176000 usd
CY2021 avco Common Stock Issued For Future Services
CommonStockIssuedForFutureServices
155700 usd
CY2022 avco Common Stock Issued For Accrued Liabilities
CommonStockIssuedForAccruedLiabilities
30000 usd
CY2021 avco Common Stock Issued For Accrued Liabilities
CommonStockIssuedForAccruedLiabilities
276032 usd
CY2021 us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
57599 usd
CY2021 avco Accrued Professional Fees Relieved For Shares Issued
AccruedProfessionalFeesRelievedForSharesIssued
202500 usd
CY2022 avco Warrants Issued With Convertible Note Payable
WarrantsIssuedWithConvertibleNotePayable
498509 usd
CY2022 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
2782569 usd
CY2022 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
4072958 usd
CY2022 avco Reclassification Of Derivative Liability To Equity
ReclassificationOfDerivativeLiabilityToEquity
2181820 usd
CY2022 avco Related Party Loan And Accrued Interest Settled In Shares
RelatedPartyLoanAndAccruedInterestSettledInShares
2888593 usd
CY2021 avco Related Party Loan And Accrued Interest Settled In Shares
RelatedPartyLoanAndAccruedInterestSettledInShares
3000000 usd
CY2016Q4 avco Exchange For Common Stock
ExchangeForCommonStock
50000000 shares
CY2022 avco Percentage Of Capital Stock
PercentageOfCapitalStock
1 pure
CY2022Q4 avco Working Capital Deficit
WorkingCapitalDeficit
1206279 usd
CY2022 avco Negative Cash Flow From Operating Activities
NegativeCashFlowFromOperatingActivities
11930847 usd
CY2021 avco Negative Cash Flow From Operating Activities
NegativeCashFlowFromOperatingActivities
-7037224 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><b>Use of Estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Changes in these estimates and assumptions may have a material impact on the consolidated financial statements and accompanying notes. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. Significant estimates during the years ended December 31, 2022 and 2021 include the useful life of property and equipment and investment in real estate, assumptions used in assessing impairment of long-term assets, valuation of deferred tax assets and the associated valuation allowances, valuation of stock-based compensation, and assumptions used to determine fair value of warrants and embedded conversion features of convertible note payable.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; "><b> </b></p>
CY2022Q4 us-gaap Cash And Due From Banks
CashAndDueFromBanks
1990910 usd
CY2022Q4 avco Cash Percentage
CashPercentage
1 pure
CY2021Q4 us-gaap Cash And Due From Banks
CashAndDueFromBanks
807538 usd
CY2021Q4 avco Cash Percentage
CashPercentage
1 pure
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
8999722 usd
CY2022 avco Cash And Cash Equivalents Description
CashAndCashEquivalentsDescription
Balances at state-owned banks within the PRC are covered by insurance up to RMB 500,000 (approximately $72,000) per bank. Any balance over RMB 500,000 per bank in PRC will not be covered.
CY2022Q4 avco Cash And Due From Bank
CashAndDueFromBank
1274920 cny
CY2022Q4 avco Cash And Due From Bank
CashAndDueFromBank
185000 usd
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
722573 cny
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
105000 usd
CY2022 avco Federallyinsured Limits
FederallyinsuredLimits
250000 usd
CY2022Q4 us-gaap Cash
Cash
4952000 usd
CY2022 avco Deferred Financing Costs
DeferredFinancingCosts
174107 usd
CY2021 avco Deferred Financing Costs
DeferredFinancingCosts
213279 usd
CY2022Q4 us-gaap Other Restricted Assets Current
OtherRestrictedAssetsCurrent
34821 usd
CY2021Q4 us-gaap Other Restricted Assets Current
OtherRestrictedAssetsCurrent
138 usd
CY2022Q4 us-gaap Other Restricted Assets Noncurrent
OtherRestrictedAssetsNoncurrent
139286 usd
CY2021Q4 us-gaap Other Restricted Assets Noncurrent
OtherRestrictedAssetsNoncurrent
74648 usd
CY2022Q4 us-gaap Accumulated Amortization Of Current Deferred Finance Costs
AccumulatedAmortizationOfCurrentDeferredFinanceCosts
236848 usd
CY2022Q4 us-gaap Deferred Income
DeferredIncome
27685 usd
CY2021Q4 us-gaap Deferred Income
DeferredIncome
8638 usd
CY2022 avco Rent Receivable And Allowance For Doubtful Accounts
RentReceivableAndAllowanceForDoubtfulAccounts
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><b>Revenue Recognition</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>The Company recognizes revenue under Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px">●</td> <td style="text-align: justify">Step 1: Identify the contract with the customer</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px">●</td> <td style="text-align: justify">Step 2: Identify the performance obligations in the contract</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px">●</td> <td style="text-align: justify">Step 3: Determine the transaction price</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px">●</td> <td style="text-align: justify">Step 4: Allocate the transaction price to the performance obligations in the contract</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px">●</td> <td style="text-align: justify">Step 5: Recognize revenue when the company satisfies a performance obligation</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>In order to identify the performance obligations in a contract with a customer, a company must assess the promised goods or services in the contract and identify each promised goods or service that is distinct. A performance obligation meets ASC 606’s defi<span style="font-family: Times New Roman, Times, Serif">nition of a “distinct” goods or service (or bundle of goods or services) if both of the following criteria are met:</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font-family: Times New Roman, Times, Serif; vertical-align: top"> <td style="font-family: Times New Roman, Times, Serif; width: 18pt"/><td style="font-family: Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; ">The customer can benefit from the goods or service either on its own or together with other resources that are readily available to the customer (i.e., the goods or service is capable of being distinct).</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font-family: Times New Roman, Times, Serif; vertical-align: top"> <td style="font-family: Times New Roman, Times, Serif; width: 18pt"/><td style="font-family: Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; ">The entity’s promise to transfer the goods or service to the customer is separately identifiable from other promises in the contract (i.e., the promise to transfer the goods or service is distinct within the context of the contract).</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; ">If a goods or service is not distinct, the goods or service is combined with other promised goods or services until a bundle of goods or services is identified that is distinct.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties (for example, some sales taxes). The consideration promised in a contract with a customer may include fixed amounts, variable amounts, or both. Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>The transaction price is allocated to each performance obligation on a relative standalone selling price basis. The transaction price allocated to each performance obligation is recognized when that performance obligation is satisfied, at a point in time or over time as appropriate.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>The Company’s revenues are derived from providing medial related consulting services for its’ related parties. Revenues related to its service offerings are recognized at a point in time when service is rendered. Any payments received in advance of the performance of services are recorded as deferred revenue until such time as the services are performed.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>The Company has determined that the ASC 606 does not apply to rental contracts, which are within the scope of other revenue recognition accounting standards.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>Rental income from operating leases is recognized on a straight-line basis under the guidance of ASC 842. Lease payments under tenant leases are recognized on a straight-line basis over the term of the related leases. The cumulative difference between lease revenue recognized under the straight-line method and contractual lease payments are included in rent receivable on the consolidated balance sheets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>The Company does not offer promotional payments, customer coupons, rebates or other cash redemption offers to its customers.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
731328 usd
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1025009 usd
CY2022Q4 us-gaap Deferred Advertising Costs
DeferredAdvertisingCosts
1325313 usd
CY2021Q4 us-gaap Deferred Advertising Costs
DeferredAdvertisingCosts
328565 usd
CY2022 us-gaap Foreign Currency Translation Adjustment Description
ForeignCurrencyTranslationAdjustmentDescription
Asset and liability accounts at December 31, 2022 and 2021 were translated at 6.8979 RMB and 6.3559 RMB to $1.00, respectively, which were the exchange rates on the balance sheet dates. Equity accounts were stated at their historical rates. The average translation rates applied to the statements of operations for the years ended December 31, 2022 and 2021 were 6.7309 RMB and 6.4515 RMB to $1.00, respectively.
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2454609 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
800000 shares
CY2022 us-gaap Common Stock Convertible Conversion Price Increase
CommonStockConvertibleConversionPriceIncrease
6.5
CY2022 us-gaap Reclassifications
Reclassifications
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><b>Reclassification</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications have no effect on the previously reported financial position, results of operations and cash flows.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022 us-gaap Fiscal Period
FiscalPeriod
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; "><b>Fiscal Year End</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><span>The Company has adopted a fiscal year end of December 31st.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><b> </b></p>
CY2022 avco Reverse Stock Split
ReverseStockSplit
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><b>Reverse Stock Split</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; ">The Company effected a one-for-ten reverse stock split of its outstanding shares of common stock on January 5, 2023. The reverse split did not change the number of authorized shares of common stock or par value. All references in these consolidated financial statements to shares, share prices, exercise prices, and other per share information in all periods have been adjusted, on a retroactive basis, to reflect the reverse stock split.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p>
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<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">For the Years Ended<br/> December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-203">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-204">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-205">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-206">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Loss from operation</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">104,688</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">151,158</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">104,657</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">151,158</td><td style="text-align: left"> </td></tr> </table>
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CY2022 avco Schedule Of Differences Between Us Statutory Rate And Companys Effective Tax Rate
ScheduleOfDifferencesBetweenUSStatutoryRateAndCompanysEffectiveTaxRate
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">Years Ended December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">U.S. federal rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21.0</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">U.S. state rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.6</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.7</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Permanent difference</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.8</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Non-US rate differential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.3</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">True ups</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5.3</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.9</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">U.S. valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(17.6</td><td style="padding-bottom: 1.5pt; text-align: left">)%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(32.9</td><td style="padding-bottom: 1.5pt; text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Total provision for income taxes</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.0</td><td style="padding-bottom: 4pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.0</td><td style="padding-bottom: 4pt; text-align: left">%</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.056 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.067 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
EffectiveIncomeTaxRateReconciliationDispositionOfBusiness
-0.038 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
EffectiveIncomeTaxRateReconciliationDispositionOfBusiness
0 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.001 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.003 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
-0.053 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
0.049 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.176 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.329 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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0 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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3499969 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3696463 usd
CY2021Q4 us-gaap Deferred Tax Asset Interest Carryforward
DeferredTaxAssetInterestCarryforward
103567 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
137864 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
47787 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
80816 usd
CY2022Q4 avco Deferred Tax Accrued Settlement
DeferredTaxAccruedSettlement
126495 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1687 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
23156 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
13634920 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
11441503 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
17448722 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
15345505 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
17329708 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
15224188 usd
CY2022Q4 avco Total Deferred Tax Assets Net
TotalDeferredTaxAssetsNet
119014 usd
CY2021Q4 avco Total Deferred Tax Assets Net
TotalDeferredTaxAssetsNet
121317 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Other Finite Lived Assets
DeferredTaxLiabilitiesOtherFiniteLivedAssets
119014 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Other Finite Lived Assets
DeferredTaxLiabilitiesOtherFiniteLivedAssets
101534 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Regulatory Assets
DeferredTaxLiabilitiesRegulatoryAssets
19783 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
-119014 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
-121317 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
46969776 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
38420422 usd
CY2022 avco Net Operating Los Carry Forward Expiration Date
NetOperatingLosCarryForwardExpirationDate
As of December 31, 2022, the Company has $44,482,221 of U.S. federal net operating loss carryovers that have no expiration date, and $2,487,555 of the federal net operating loss and state net operating loss carry-forwards begin to expire in 2034.
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
61847 usd
CY2022 us-gaap Income Tax Examination Penalties Expense
IncomeTaxExaminationPenaltiesExpense
10000 usd
CY2022 us-gaap Other Information Pertaining To Income Taxes
OtherInformationPertainingToIncomeTaxes
The Company has not been audited by any jurisdiction since its inception. The Company is open for audit by the U.S. Internal Revenue Service and U.S. state tax jurisdictions from 2019 to 2022, and open for audit by the Chinese Ministry of Finance from 2018 to 2022. 
CY2022 avco Designated Shares
DesignatedShares
15000 shares
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022 us-gaap Stockholders Equity Note Changes In Capital Structure Subsequent Changes To Number Of Common Shares
StockholdersEquityNoteChangesInCapitalStructureSubsequentChangesToNumberOfCommonShares
9 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
0.50 pure
CY2022 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.10 pure
CY2022 us-gaap Deferred Compensation Arrangement With Individual Cash Awards Granted Percentage
DeferredCompensationArrangementWithIndividualCashAwardsGrantedPercentage
0.50 pure
CY2022 avco Aggregate Share
AggregateShare
9000 shares
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
9000000 shares
CY2022 avco Conversion Price Percentage
ConversionPricePercentage
0.90 pure
CY2022Q3 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
44872 shares
CY2022Q3 avco Purchase Price
PurchasePrice
7.8
CY2022Q3 us-gaap Proceeds From Fees Received
ProceedsFromFeesReceived
250000 usd
CY2022 us-gaap Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
40896 shares
CY2022 us-gaap Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
340950 usd
CY2022 avco Shares Based Compensation
SharesBasedCompensation
310950 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
30000 usd
CY2021 us-gaap Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
140568 shares
CY2021 us-gaap Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
1507488 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
276032 usd
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
155700 usd
CY2021Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
16736 shares
CY2021Q2 avco Unpaid Professional Fees
unpaidProfessionalFees
202500 usd
CY2021Q2 avco Issuance Of Shares
IssuanceOfShares
16736 shares
CY2021Q2 avco Issuance Of Fair Value
IssuanceOfFairValue
202500 usd
CY2022Q3 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
3718943 usd
CY2022Q3 avco Unpaid Interest
UnpaidInterest
9751 usd
CY2022Q3 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
573645 shares
CY2022Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
6.5
CY2022Q3 avco Conversion Agreement
ConversionAgreement
344264 usd
CY2022Q3 avco Debt Settlement Agreement Description
DebtSettlementAgreementDescription
the Company and Mr. Lu entered into and closed a Debt Settlement Agreement and Release pursuant to which the Company settled $2,440,262 debt owed under the Line of Credit and unpaid interest of $448,331 by issuance of 444,399 shares of common stock of the Company (see Note 12 - Borrowings from Related Party – Line of Credit). The total amount of the debt settled of $2,888,593 exceeded the fair market value of the shares issued by $888,353 which was treated as a capital transaction due to Mr. Lu’s relationship with the Company.
CY2021Q4 us-gaap Line Of Credit
LineOfCredit
3000000 usd
CY2021Q4 avco Shares Of Common Stock
SharesOfCommonStock
240000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Other Share Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherShareIncreaseDecrease
240000 shares
CY2021Q4 avco Fair Market Value
FairMarketValue
3000000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
59000 usd
CY2022 avco Stock Options Exercisable
StockOptionsExercisable
40634 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
421428 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
726952 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
358113 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
769334 usd
CY2021 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
234856 usd
CY2021Q3 us-gaap Professional Fees
ProfessionalFees
84064 usd
CY2022Q3 us-gaap Professional Fees
ProfessionalFees
157207 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
123964 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
12.5
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
123964 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
12.5
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
12.5
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
123964 shares
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y3M21D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
123964 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
12.5
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
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0 usd
CY2022 avco Statutory Reserve Percent
StatutoryReservePercent
0.10 pure
CY2022 avco Registered Capital Percentage
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0.50 pure
CY2022Q4 us-gaap Statutory Accounting Practices Statutory Amount Available For Dividend Payments
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6578 usd
CY2021Q4 us-gaap Statutory Accounting Practices Statutory Amount Available For Dividend Payments
StatutoryAccountingPracticesStatutoryAmountAvailableForDividendPayments
6578 usd
CY2022Q4 us-gaap Other Restricted Assets
OtherRestrictedAssets
1006578 usd
CY2021Q4 us-gaap Other Restricted Assets
OtherRestrictedAssets
706578 usd
CY2022Q4 avco Net Assets Percentage
NetAssetsPercentage
0.25 pure
CY2022Q4 srt Financing Receivable Nonaccrual To Outstanding Percent
FinancingReceivableNonaccrualToOutstandingPercent
0.814 pure
CY2021 avco Concentration Risk Percentage
ConcentrationRiskPercentage
0.806 pure
CY2022 us-gaap Revenues
Revenues
1202169 usd
CY2021 us-gaap Revenues
Revenues
1390972 usd
CY2022 us-gaap Costs And Expenses
CostsAndExpenses
929441 usd
CY2021 us-gaap Costs And Expenses
CostsAndExpenses
976454 usd
CY2022 us-gaap Gross Profit
GrossProfit
272728 usd
CY2021 us-gaap Gross Profit
GrossProfit
414518 usd
CY2022 us-gaap Operating Expenses
OperatingExpenses
9065623 usd
CY2021 us-gaap Operating Expenses
OperatingExpenses
9248348 usd
CY2022 avco Interest Expens Related Party
InterestExpensRelatedParty
3576333 usd
CY2021 avco Interest Expens Related Party
InterestExpensRelatedParty
200477 usd
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
438381 usd
CY2021 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-56192 usd
CY2022 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-3137952 usd
CY2021 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-256669 usd
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-11930847 usd
CY2021 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-9090499 usd
CY2022Q4 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
7498381 usd
CY2021Q4 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
7890317 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7498381 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7890317 usd
CY2017Q4 us-gaap Dividends Share Based Compensation Cash
DividendsShareBasedCompensationCash
450000 usd
CY2022Q2 avco Research Institute
ResearchInstitute
450000 usd
CY2022Q4 avco Issued And Outstanding Interest Percentage
IssuedAndOutstandingInterestPercentage
0.60 pure
CY2022 us-gaap Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
900000 usd
CY2022 avco Gain Loss On Condemnation Description
GainLossOnCondemnationDescription
In addition, the Company agreed to pay the Research Institute 30% of the Company’s initial pre-tax profit of $3,333,333, 20% of the Company’s second pre-tax profit of $3,333,333 and 10% of the Company’s third pre-tax profit of $3,333,333. The parties provided a mutual release as well.
CY2022Q3 us-gaap-sup Dividend Income Operating Paid In Cash
DividendIncomeOperatingPaidInCash
450000 usd
CY2022Q3 us-gaap Litigation Reserve
LitigationReserve
900000 usd
CY2022 avco Operating Leases Rent Expense
OperatingLeasesRentExpense
141000 usd
CY2021 avco Operating Leases Rent Expense
OperatingLeasesRentExpense
143000 usd
CY2022 avco Operating Cash Flow Paid For Operating Lease
OperatingCashFlowPaidForOperatingLease
150577 usd
CY2021 avco Operating Cash Flow Paid For Operating Lease
OperatingCashFlowPaidForOperatingLease
130071 usd
CY2021 avco Operating Lease
OperatingLease
133879 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y1M28D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0488 pure
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
11448 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
11448 usd
CY2022Q4 avco Amount Of Lease Payments Representing Interest
AmountOfLeasePaymentsRepresentingInterest
-11 usd
CY2022Q4 avco Operating Lease Liabilities
OperatingLeaseLiabilities
11437 usd
CY2022 avco Current Portion
CurrentPortion
11437 usd
CY2022Q4 avco Total
Total
11437 usd
CY2018Q2 us-gaap Investments And Cash
InvestmentsAndCash
8000000 cny
CY2018Q2 us-gaap Investments And Cash
InvestmentsAndCash
1100000 usd
CY2022Q4 us-gaap Investments And Cash
InvestmentsAndCash
5110000 cny
CY2022Q4 us-gaap Investments And Cash
InvestmentsAndCash
700000 usd
CY2022 us-gaap Cash Flows Between Transferee And Transferor Servicing Fees
CashFlowsBetweenTransfereeAndTransferorServicingFees
10000000 usd
CY2022 us-gaap Noncash Contribution Expense
NoncashContributionExpense
6660000 usd
CY2022 us-gaap Partners Capital Account Contributions
PartnersCapitalAccountContributions
5000000 cny
CY2022 us-gaap Partners Capital Account Contributions
PartnersCapitalAccountContributions
700000 usd
CY2022 us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
300000 usd
CY2022 us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
300000 usd
CY2022Q4 avco Interest Purchase Agreement Description
InterestPurchaseAgreementDescription
The consideration to be paid for the Purchased Interests consists of up to thirty-one million dollars ($31,000,000), of which (i) five million dollars ($5,000,000) was paid as a refundable prepayment at signing, (ii) ten million dollars ($10,000,000) will be paid in cash at the closing, (iii) fifteen million dollars ($15,000,000) will be paid pursuant to the issuance of 15,000 shares of the Company’s newly designated Series B Convertible Preferred Stock (the “Series B Preferred Stock”), stated value $1,000 (the “Series B Stated Value”), which Series B Preferred Stock will be convertible into shares of the Company’s common stock at a conversion price per share equal to $5.75 or an aggregate of 2,608,696 shares of the Company’s common stock, which are subject to the Lock Up Period and the restrictions on sale, and (iv) one million dollars ($1,000,000) will be paid on the first anniversary of the closing date (the “Anniversary Payment”). The Seller is also eligible to receive certain earnout payments upon achievement of certain operating results, which may be comprised of up to ten million dollars ($10,000,000) of which (x) five million dollars ($5,000,000) will be paid in cash and (y) five million dollars ($5,000,000) will be paid pursuant to the issuance of the number of shares of Company common stock valued at five million dollars ($5,000,000), calculated using the closing price of the Company’s common stock on December 31, 2023 (collectively, the “Earnout Payments”).
CY2022 avco Interest Purchase Agreement Description
InterestPurchaseAgreementDescription
The consideration paid by Buyer to Seller for the Purchased Interests consisted of $21,000,000, which comprised of (i) $9,000,000 in cash, (ii) $11,000,000 pursuant to the issuance of 11,000 shares of the Company’s newly designated Series B Convertible Preferred Stock (the “Series B Preferred Stock”), stated value $1,000 (the “Series B Stated Value”), and (iii) a $1,000,000 cash payment on February 9, 2024 (the “Anniversary Payment”). The Series B Preferred Stock will be convertible into shares of the Company’s common stock at a conversion price per share equal to $3.78 or an aggregate of 2,910,053 shares of the Company’s common stock and are subject to the Lock Up Period and the restrictions on sale. The Seller is also eligible, under the terms set forth in the Amended MIPA, to receive certain earnout payments upon achievement of certain operating results, which may be comprised of up to $10,000,000 of which (x) up to $5,000,000 will be paid in cash and (y) up to $5,000,000 will be paid pursuant to the issuance of the number of shares of Company common stock valued at $5,000,000, calculated using the closing price of the Company’s common stock on December 31, 2023, rounded down to the nearest whole share (collectively, the “Earnout Payments”).
CY2022Q4 us-gaap Percentage Of Weighted Average Cost Inventory
PercentageOfWeightedAverageCostInventory
0.20 pure
CY2022Q4 avco Cash And Due Banks
CashAndDueBanks
6000000 usd
CY2022 avco Additional Shares
AdditionalShares
4000 shares
CY2022Q4 avco Preferred Stock Values
PreferredStockValues
4000000 usd
CY2022Q4 us-gaap Line Of Credit
LineOfCredit
20000000 usd
CY2022Q4 us-gaap Derivative Fixed Interest Rate
DerivativeFixedInterestRate
0.05 pure
CY2022 avco Term Loan Payable
TermLoanPayable
P3Y
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
usd
CY2022Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
usd
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q4 avco Preferred Stock Value1
PreferredStockValue1
usd
CY2021Q4 avco Preferred Stock Value1
PreferredStockValue1
usd
CY2022Q4 us-gaap Minority Interest
MinorityInterest
usd
CY2021Q4 us-gaap Minority Interest
MinorityInterest
usd
CY2022 avco Medical Related Consulting Services Related Party
MedicalRelatedConsultingServicesRelatedParty
usd
CY2022 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
usd
CY2021 avco Loss From Lawsuit
LossFromLawsuit
usd
CY2021 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
usd
CY2021 us-gaap Interest Expense Other
InterestExpenseOther
usd
CY2021 us-gaap Other Expenses
OtherExpenses
usd
CY2021 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
usd
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8491103 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9328609 shares
CY2021 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
usd
CY2021 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
usd
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
usd
CY2021 us-gaap Other Noncash Expense
OtherNoncashExpense
usd
CY2021 us-gaap Line Of Credit Assumed1
LineOfCreditAssumed1
usd
CY2022 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
usd
CY2021 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
usd
CY2021 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
usd
CY2021 us-gaap Repayments Of Construction Loans Payable
RepaymentsOfConstructionLoansPayable
usd
CY2021 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
usd
CY2021 avco Proceeds From Issuance Of Balloon Promissory Note
ProceedsFromIssuanceOfBalloonPromissoryNote
usd
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
usd
CY2021 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
usd
CY2022 avco Common Stock Issued For Future Services
CommonStockIssuedForFutureServices
usd
CY2022 us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
usd
CY2022 avco Accrued Professional Fees Relieved For Shares Issued
AccruedProfessionalFeesRelievedForSharesIssued
usd
CY2021 avco Warrants Issued With Convertible Note Payable
WarrantsIssuedWithConvertibleNotePayable
usd
CY2021 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
usd
CY2021 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
usd
CY2021 avco Reclassification Of Derivative Liability To Equity
ReclassificationOfDerivativeLiabilityToEquity
usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
usd
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment Current
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentCurrent
usd
CY2022 avco Equity Method Investment Summarized Financial Information Of Revenue
EquityMethodInvestmentSummarizedFinancialInformationOfRevenue
usd
CY2021 avco Equity Method Investment Summarized Financial Information Of Revenue
EquityMethodInvestmentSummarizedFinancialInformationOfRevenue
usd
CY2022 avco Equity Method Investment Summarized Financial Information Of Gross Profit Loss
EquityMethodInvestmentSummarizedFinancialInformationOfGrossProfitLoss
usd
CY2021 avco Equity Method Investment Summarized Financial Information Of Gross Profit Loss
EquityMethodInvestmentSummarizedFinancialInformationOfGrossProfitLoss
usd
CY2022Q4 us-gaap Other Ownership Interests Offering Costs
OtherOwnershipInterestsOfferingCosts
usd
CY2021 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
usd
CY2022 avco Services Revenue
ServicesRevenue
usd
CY2022 us-gaap Related Party Costs
RelatedPartyCosts
usd
CY2022Q4 avco Line Of Credits Facility Average Outstanding Amount
LineOfCreditsFacilityAverageOutstandingAmount
usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
usd
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2022Q4 us-gaap Deferred Tax Asset Interest Carryforward
DeferredTaxAssetInterestCarryforward
usd
CY2022Q4 us-gaap Deferred Tax Liabilities Regulatory Assets
DeferredTaxLiabilitiesRegulatoryAssets
usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
usd
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
CY2022 avco Operating Lease
OperatingLease
usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
usd
CY2022 dei Amendment Flag
AmendmentFlag
false
CY2022 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2022 dei Entity Central Index Key
EntityCentralIndexKey
0001630212
CY2022 dei Entity Registrant Name
EntityRegistrantName
AVALON GLOBOCARE CORP.

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