Selectis Health Files Q2 2024 10-Q

TL;DR

SELECTIS HEALTH (SLHI) FILED Q2 10-Q. FINANCIALS SHOWING PERFORMANCE VS LAST YEAR.

AI Summary

Selectis Health, Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as Global Healthcare REIT, Inc., is a real estate investment trust. The filing covers financial information for the second quarter and first half of 2024, comparing it to the same periods in 2023.

Why It Matters

This filing provides investors with the latest financial performance and position of Selectis Health, Inc., crucial for understanding its ongoing operations and investment value.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks disclosed.

Key Players & Entities

• SELECTIS HEALTH, INC. (company) — Filer
• GLOBAL HEALTHCARE REIT, INC. (company) — Former Company Name
• 20240630 (date) — Reporting Period End Date
• 20240816 (date) — Filing Date

FAQ

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) — 998KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• 0001493152-24-032893.txt ( ) — 4815KB
• gbcs-20240630.xsd (EX-101.SCH) — 32KB
• gbcs-20240630_cal.xml (EX-101.CAL) — 44KB
• gbcs-20240630_def.xml (EX-101.DEF) — 174KB
• gbcs-20240630_lab.xml (EX-101.LAB) — 279KB
• gbcs-20240630_pre.xml (EX-101.PRE) — 234KB
• form10-q_htm.xml (XML) — 703KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024, and 2023 (Unaudited) 4 Condensed Consolidated Statements of Changes in Equity for the Three and Six Months Ended June 30, 2024, and June 30, 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 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 20 Item 4.

Controls and Procedures

Controls and Procedures 20

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 21 Item 1A.

Risk Factors

Risk Factors 21 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 3. Defaults Upon Senior Securities 21 Item 4. Mine Safety Disclosures 21 Item 5. Other Information 21 Item 6 . Exhibits 21 2 PART 1. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) SELECTIS HEALTH, INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2024 December 31, 2023 Unaudited ASSETS Current Assets Cash $ 3,220,581 $ 1,484,599 Accounts Receivable, Net 2,188,073 2,091,536 Prepaid Expenses and Other Current Assets 586,414 1,380,570 Total Current Assets 5,995,068 4,956,705 Long Term Assets: Restricted Cash 802,730 820,124 Property and Equipment, Net 28,855,644 33,817,718 Goodwill 1,076,908 1,076,908 Total Assets $ 36,730,350 $ 40,671,455 LIABILITIES AND EQUITY Liabilities: Accounts Payable and Accrued Liabilities $ 6,722,171 $ 6,045,365 Dividends Payable 45,600 30,600 Short-Term Debt, Related Parties 900,000 900,000 Current Maturities of Long-Term Debt, Net of Discount of $ 459,485 and $ 524,704 , respectively 10,596,535 11,170,100 Total Current Liabilities 18,264,306 18,146,065 Debt, Net of Discount of $ 0 and $ 30,663 , respectively 21,600,065 25,176,435 Lease Security Deposit 85,150 312,750 Total Liabilities $ 39,949,521 $ 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 Shares Issued and Outstanding at June 30, 2024 and December 31, 2023, respectively 153,352 153,352 Additiona

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View this 10-Q filing on SEC EDGAR