ETHEMA HEALTH Corp Files Q2 2024 10-Q

TL;DR

ETHEMA HEALTH Corp's Q2 2024 10-Q is in. Check financials.

AI Summary

ETHEMA HEALTH Corp filed its 10-Q for the period ending June 30, 2024. The filing details financial information for the second quarter of 2024, including balance sheet and income statement data. The company's principal executive offices are located at 950 Evernia Street, West Palm Beach, FL 33401.

Why It Matters

This filing provides investors with the latest financial performance and position of ETHEMA HEALTH Corp, crucial for understanding the company's operational health and future prospects.

Risk Assessment

Risk Level: low — This is a routine financial filing with no immediate red flags or significant new disclosures.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 20240819 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• ETHEMA HEALTH Corp (company) — Filer of the 10-Q
• 950 Evernia Street, West Palm Beach, FL 33401 (location) — Principal executive offices
• 20240630 (date) — End of reporting period

FAQ

Key Financial Figures

• $1,100,000 — ority shareholder for gross proceeds of $1,100,000. The Company paid an initial deposit of
• $25,000 — The Company paid an initial deposit of $25,000 and on closing an additional $600,000.
• $600,000 — of $25,000 and on closing an additional $600,000. The Company issued a non-interest-bear
• $475,000 — ssory note for the remaining balance of $475,000, which promissory note is repayable in
• $10,000 — ry note is repayable in installments of $10,000 a month on each monthly anniversary dat
• $157,500 — n (eight installments), and payments of $157,500 on month nine and month eighteen, for a
• $240,000 — ive Agreement. The purchase price was $240,000 which was settled by a deposit of $20,0
• $20,000 — 0,000 which was settled by a deposit of $20,000 and a cash payment of $220,000 and the
• $220,000 — eposit of $20,000 and a cash payment of $220,000 and the payment to the Seller of $83,39
• $83,393 — 20,000 and the payment to the Seller of $83,393 for the assumption of the security depo
• $1 — ded June 30, 2023, a closing rate of CDN$1 equals US$0.7553 and an average exchang
• $0.7553 — 2023, a closing rate of CDN$1 equals US$0.7553 and an average exchange rate of CDN$1 e
• $0.7420 — average exchange rate of CDN$1 equals US$0.7420. 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) — 1063KB
• ex31_1.htm (EX-31.1) — 13KB
• ex32_1.htm (EX-32.1) — 5KB
• 0001903596-24-000535.txt ( ) — 6325KB
• grst-20240630.xsd (EX-101.SCH) — 52KB
• grst-20240630_cal.xml (EX-101.CAL) — 67KB
• grst-20240630_def.xml (EX-101.DEF) — 159KB
• grst-20240630_lab.xml (EX-101.LAB) — 372KB
• grst-20240630_pre.xml (EX-101.PRE) — 299KB
• grst_10q_htm.xml (XML) — 1120KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item l.

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of June 30, 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 27 Item 3.

Quantitative and Qualitative Disclosures About Market

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 33

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 34

SIGNATURES

SIGNATURES 35 ETHEMA HEALTH CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2024 December 31, 2023 ASSETS (Unaudited) Current assets Cash $ 31,102 $ 68,573 Accounts receivable, net 272,872 313,338 Prepaid expenses 26,453 18,159 Other current assets 1,478 3,030 Related party receivables 13,571 — Total current assets 345,476 403,100 Non-current assets Property and equipment 762,979 508,401 Intangible assets, net 715,961 894,952 Right of use assets 10,052,463 9,323,723 Deposits paid 472,393 389,000 Total non-current assets 12,003,796 11,116,076 Total assets $ 12,349,272 $ 11,519,176 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable and accrued liabilities $ 507,899 $ 352,101 Convertible notes, net of discounts 2,169,570 4,419,927 Short-term notes 2,379,445 680,672 Promissory note 267,500 — Receivables funding 284,064 211,961 Government assistance loans 15,062 14,962 Operating lease liability 275,457 38,563 Finance lease liability 8,714 8,426 Related party payables 2,638,078 2,572,292 Total current liabilities 8,545,789 8,298,904 Non-current liabilities Convertible notes, net of discounts 1,730,048 — Government assistance loans 12,920 20,520 Promissory note 197,500 — Operating lease liability 9,990,756 9,383,557 Finance lease liability 12,017 16,475 Total non-current liabilities 11,943,241 9,420,552 Total liabilities 20,489,030 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 June 30, 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 June 30, 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

View Full Filing

View this 10-Q filing on SEC EDGAR