Selectis Health, Inc. Files Q3 2024 10-Q

TL;DR

SELECTIS HEALTH (SLCT) FILED Q3 10-Q. FINANCIALS OUT.

AI Summary

Selectis Health, Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Global Healthcare REIT, Inc., is incorporated in Utah and operates in the Real Estate Investment Trusts sector. Its business address is 8480 E. Orchard Road, Suite 4900, Greenwood Village, CO 80111.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Selectis Health, Inc. for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard 10-Q filing with no immediate red flags or significant new disclosures.

Key Numbers

• 20240930 — Reporting Period End Date (The 10-Q covers financial information up to this date.)
• 20241114 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• SELECTIS HEALTH, INC. (company) — Filer
• GLOBAL HEALTHCARE REIT, INC. (company) — Former company name
• GLOBAL CASINOS INC (company) — Former company name
• MORGRO CHEMICAL CO (company) — Former company name
• 8480 E. ORCHARD ROAD (location) — Business and Mail Address
• GREENWOOD VILLAGE, CO 80111 (location) — Business and Mail Address

FAQ

Filing Documents

• form10-q.htm (10-Q) — 855KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• 0001493152-24-046045.txt ( ) — 4669KB
• gbcs-20240930.xsd (EX-101.SCH) — 32KB
• gbcs-20240930_cal.xml (EX-101.CAL) — 45KB
• gbcs-20240930_def.xml (EX-101.DEF) — 173KB
• gbcs-20240930_lab.xml (EX-101.LAB) — 279KB
• gbcs-20240930_pre.xml (EX-101.PRE) — 234KB
• form10-q_htm.xml (XML) — 705KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024, and 2023 (Unaudited) 4 Condensed Consolidated Statements of Changes in Equity for the Three and Nine Months Ended September 30, 2024, and September 30, 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024, and 2023 (Unaudited) 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8 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 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults Upon Senior Securities 22 Item 4. Mine Safety Disclosures 22 Item 5. Other Information 22 Item 6 . Exhibits 22 2 PART 1. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) SELECTIS HEALTH, INC. CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2024 December 31, 2023 Unaudited ASSETS Current Assets Cash $ 984,373 $ 1,484,599 Accounts Receivable, Net 1,904,432 2,091,536 Prepaid Expenses and Other Current Assets 644,353 1,380,570 Total Current Assets 3,533,158 4,956,705 Long Term Assets: Restricted Cash 838,223 820,124 Property and Equipment, Net 28,480,891 33,817,718 Goodwill 1,076,908 1,076,908 Total Assets $ 33,929,180 $ 40,671,455 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Liabilities: Accounts Payable and Accrued Liabilities $ 6,481,446 $ 6,045,365 Dividends Payable 53,100 30,600 Short-Term Debt, Related Parties 900,000 900,000 Current Maturities of Long-Term Debt, Net of Discount of $ 455,711 and $ 524,704 , respectively 12,761,635 11,170,100 Total Current Liabilities 20,196,181 18,146,065 Debt, Net of Discount of $ 0 and $ 30,663 , respectively 18,465,042 25,176,435 Lease Security Deposit 101,750 312,750 Total Liabilities $ 38,762,973 $ 43,635,250 Commitments and Contingencies - - Stockholders' Equity (deficit): 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 153,352 153,352 Additio

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