ETHEMA HEALTH Corp Files Q1 2024 10-Q

TL;DR

ETHEMA HEALTH Corp's Q1 2024 10-Q is in, showing financial details for preferred and common stock.

AI Summary

ETHEMA HEALTH Corp filed its 10-Q for the period ending March 31, 2024. The company, formerly known as GREENESTONE HEALTHCARE CORP, is incorporated in Colorado and operates in the healthcare sector. The filing details financial data for the first quarter of 2024, including preferred stock, common stock, and retained earnings.

Why It Matters

This filing provides a snapshot of ETHEMA HEALTH Corp's financial position and performance for the first quarter of 2024, which is crucial for investors to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — This filing is a standard quarterly report and does not contain immediate red flags or significant negative developments.

Key Numbers

• Q1 2024 — Reporting Period (Covers the first three months of 2024)
• 2024-03-31 — As of Date (Financial data is reported as of this date)

Key Players & Entities

• ETHEMA HEALTH Corp (company) — Filer of the 10-Q
• GREENESTONE HEALTHCARE CORP (company) — Former name of ETHEMA HEALTH Corp
• 20240331 (date) — End of the reporting period
• 20240531 (date) — Filing date

FAQ

Key Financial Figures

• $240,000 — Raton, Florida. The purchase price is $240,000 with monthly repayment of $20,000 per m
• $20,000 — e is $240,000 with monthly repayment of $20,000 per month beginning on the Effective Da
• $83,393 — ecurity Deposit ("Security Deposit") of $83,393 which will be applied to the purchase p
• $63,393 — se price, with the remaining balance of $63,393 remaining as the Security Deposit and a
• $1 — ed March 31, 2023, a closing rate of CDN$1 equals US$0.7389 and an average exchang
• $0.7389 — 2023, a closing rate of CDN$1 equals US$0.7389 and an average exchange rate of CDN$1 e
• $0.7394 — average exchange rate of CDN$1 equals US$0.7394. c) Cash and cash equivalents For p
• $100,000 — surance Corporation up to a limit of CDN$100,000 per institution. d) Accounts receivab

Filing Documents

• grst_10q.htm (10-Q) — 990KB
• ex31_1.htm (EX-31.1) — 13KB
• ex32_1.htm (EX-32.1) — 5KB
• 0001903596-24-000371.txt ( ) — 5475KB
• grst-20240331.xsd (EX-101.SCH) — 49KB
• grst-20240331_cal.xml (EX-101.CAL) — 55KB
• grst-20240331_def.xml (EX-101.DEF) — 115KB
• grst-20240331_lab.xml (EX-101.LAB) — 292KB
• grst-20240331_pre.xml (EX-101.PRE) — 226KB
• grst_10q_htm.xml (XML) — 1066KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item l.

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 1 Unaudited Condensed Consolidated 2 Unaudited Condensed Consolidated 3 Unaudited Condensed Consolidated 4 Notes to the Unaudited Condensed Consolidated Financial 5 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures About Market

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 29 Item 4. Mine Safety Disclosures 29 Item 5. Other Information 29 Item 6. Exhibits 29

SIGNATURES

SIGNATURES 30 ETHEMA HEALTH CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 December 31, 2023 ASSETS (Unaudited) Current assets Cash $ 137,497 $ 68,573 Accounts receivable, net 356,929 313,338 Prepaid expenses 12,249 18,159 Other current assets 3,158 3,030 Total current assets 509,833 403,100 Non-current assets Property and equipment 519,152 508,401 Intangible assets, net 805,457 894,952 Right of use assets 9,316,039 9,323,723 Deposits paid 409,000 389,000 Total non-current assets 11,049,648 11,116,076 Total assets $ 11,559,481 $ 11,519,176 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable and accrued liabilities $ 336,401 $ 352,101 Convertible notes, net of discounts 4,471,232 4,419,927 Short-term notes 1,037,617 680,672 Receivables funding 101,848 211,961 Government assistance loans 14,999 14,962 Operating lease liability 44,485 38,563 Finance lease liability 8,570 8,426 Related party payables 2,660,190 2,572,292 Total current liabilities 8,675,342 8,298,904 Non-current liabilities Government assistance loans 16,732 20,520 Operating lease liability 9,427,628 9,383,557 Finance lease liability 14,262 16,475 Total non-current liabilities 9,458,622 9,420,552 Total liabilities 18,133,964 17,719,456 Preferred stock - Series B; $ 1.00 par value 10,000,000 authorized, 0 and 400,000 shares issued and outstanding as of March 31, 2024 and December 31, 2023. — — Stockholders' deficit Preferred stock - Series A; $ 0.01 par value, 10,000,000 authorized, 4,000,000 shares issued and outstanding as of March 31, 2024 and December 31, 2023 40,000 40,000 Common stock - $ 0.01 par value, 10,000,000,000 shares authorized; 3,729,053,805 and 3,729,053,805 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 37,290,539 37,290,539 Additional paid-in capital 26,187,925 26,187,92

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View this 10-Q filing on SEC EDGAR