Selectis Health, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Selectis Health, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial status and business operations.</b>

AI Summary

SELECTIS HEALTH, INC. (GBCS) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Selectis Health, Inc. (formerly Global Healthcare REIT, Inc.) filed a 10-Q for the quarter ended March 31, 2024. The company's business address is 8480 E. Orchard Road, Suite 4900, Greenwood Village, CO 80111. Selectis Health, Inc. was formerly known as Global Healthcare REIT, Inc. and Global Casinos Inc. The filing covers the period from January 1, 2024, to March 31, 2024. The SIC code for the company is 6798 (Real Estate Investment Trusts).

Why It Matters

For investors and stakeholders tracking SELECTIS HEALTH, INC., this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial performance and operational updates for Selectis Health, Inc. for the first quarter of 2024. Understanding the company's financial health, including its revenue streams and balance sheet, is crucial for assessing its current market position and future prospects.

Risk Assessment

Risk Level: low — SELECTIS HEALTH, INC. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not indicate any unusual or high-risk events.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand Selectis Health's performance and outlook.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly filing)
• 2024-05-15 — Filed As Of Date (Quarterly filing)
• 6798 — Standard Industrial Classification (Real Estate Investment Trusts)
• 2013-10-04 — Date of Name Change (From Global Healthcare REIT, Inc.)

Key Players & Entities

• SELECTIS HEALTH, INC. (company) — Filer name
• GLOBAL HEALTHCARE REIT, INC. (company) — Former company name
• GLOBAL CASINOS INC (company) — Former company name
• 8480 E. ORCHARD ROAD (company) — Business street address
• GREENWOOD VILLAGE (company) — Business city
• UT (company) — State of incorporation
• 2024-03-31 (date) — Period of report
• 2024-05-15 (date) — Filed as of date

FAQ

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-15: Filing Date — Date the 10-Q was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and condition for the quarter.)

REIT

Real Estate Investment Trust, a company that owns, operates, or finances income-generating real estate. (Indicates the company's primary business sector and regulatory framework.)

Key Financial Figures

• $10.00 — their original maturity date. For every $10.00 in principal amount of note, investors

Filing Documents

• form10-q.htm (10-Q) — 715KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 8KB
• 0001493152-24-019963.txt (&nbsp;) — 4086KB
• gbcs-20240331.xsd (EX-101.SCH) — 31KB
• gbcs-20240331_cal.xml (EX-101.CAL) — 42KB
• gbcs-20240331_def.xml (EX-101.DEF) — 156KB
• gbcs-20240331_lab.xml (EX-101.LAB) — 259KB
• gbcs-20240331_pre.xml (EX-101.PRE) — 210KB
• form10-q_htm.xml (XML) — 563KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024, and 2023 (Unaudited) 4 Condensed Consolidated Statements of Changes in Equity for the Three Months Ended March 31, 2024, and March 31, 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024, and 2023 (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 19 Item 4.

Controls and Procedures

Controls and Procedures 19

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 20 Item 1A.

Risk Factors

Risk Factors 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults Upon Senior Securities 20 Item 4. Mine Safety Disclosures 20 Item 5. Other Information 20 Item 6 . Exhibits 20 2 PART 1. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) SELECTIS HEALTH, INC. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 December 31, 2023 Unaudited ASSETS Current Assets Cash $ 1,265,613 $ 1,484,599 Accounts Receivable, Net 1,825,507 2,091,536 Prepaid Expenses and Other Current Assets 1,110,776 1,380,570 Total Current Assets 4,201,896 4,956,705 Long Term Assets: Restricted Cash 767,226 820,124 Property and Equipment, Net 33,510,748 33,817,718 Goodwill 1,076,908 1,076,908 Total Assets $ 39,556,778 $ 40,671,455 LIABILITIES AND EQUITY Liabilities: Accounts Payable and Accrued Liabilities $ 6,284,271 $ 6,045,365 Dividends Payable 38,100 30,600 Short-Term Debt, Related Parties 900,000 900,000 Current Maturities of Long-Term Debt, Net of Discount of $ 467,609 and $ 524,704 , respectively 10,926,610 11,170,100 Total Current Liabilities 18,148,981 18,146,065 Debt, Net of Discount of $ 7,871 and $ 30,663 , respectively 25,095,062 25,176,435 Lease Security Deposit 318,750 312,750 Total Liabilities $ 43,562,793 $ 43,635,250 Commitments and Contingencies - - Equity: Preferred Stock: Series A - No Dividends, $ 2.00 Stated Value, Non-Voting; 2,000,000 Shares Authorized, 200,500 Shares Issued and Outstanding 401,000 401,000 Series D - 8 % Cumulative, Convertible, $ 1.00 Stated Value, Non-Voting; 1,000,000 Shares Authorized, 375,000 Shares Issued and Outstanding 375,000 375,000 Preferred stock value 375,000 375,000 Common Stock - $ 0.05 Par Value; 800,000,000 Shares Authorized, 3,067,059 and 3,067,059 Shares Issued and Outstanding at March 31, 2024 and December 31, 2023, respectively 153,35

View Full Filing

View this 10-Q filing on SEC EDGAR