ETHEMA HEALTH Corp Files Q3 2024 10-Q

TL;DR

ETHEMA HEALTH Corp dropped its Q3 2024 10-Q. Check financials.

AI Summary

ETHEMA HEALTH Corp filed its 10-Q for the period ending September 30, 2024. The company, formerly known as GREENESTONE HEALTHCARE CORP, is based in West Palm Beach, Florida. The filing covers financial performance and operational details for the third quarter of 2024.

Why It Matters

This 10-Q filing provides investors with a crucial update on ETHEMA HEALTH Corp's financial standing and operational performance for the third quarter of 2024.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal significant performance changes or risks for the company.

Key Numbers

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

Key Players & Entities

• ETHEMA HEALTH Corp (company) — Filer
• GREENESTONE HEALTHCARE CORP (company) — Former company name
• WEST PALM BEACH, FL (location) — Business and mailing address
• 20240930 (date) — Period of report

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) — 1398KB
• ex31_1.htm (EX-31.1) — 12KB
• ex32_1.htm (EX-32.1) — 5KB
• 0001903596-24-000678.txt ( ) — 6557KB
• grst-20240930.xsd (EX-101.SCH) — 47KB
• grst-20240930_cal.xml (EX-101.CAL) — 68KB
• grst-20240930_def.xml (EX-101.DEF) — 125KB
• grst-20240930_lab.xml (EX-101.LAB) — 351KB
• grst-20240930_pre.xml (EX-101.PRE) — 274KB
• grst_10q_htm.xml (XML) — 1212KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item l.

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of September 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 26 Item 3.

Quantitative and Qualitative Disclosures About Market

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 32

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults Upon Senior Securities 33 Item 4. Mine Safety Disclosures 33 Item 5. Other Information 33 Item 6. Exhibits 33

SIGNATURES

SIGNATURES 34 ETHEMA HEALTH CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2024 December 31, 2023 ASSETS (Unaudited) Current assets Cash $ 60,862 $ 68,573 Accounts receivable, net 381,307 313,338 Prepaid expenses 28,777 18,159 Other current assets 1,478 3,030 Total current assets 472,424 403,100 Non-current assets Property and equipment, net 756,395 508,401 Intangible assets, net 626,467 894,952 Right of use assets 9,988,784 9,323,723 Deposits paid 472,393 389,000 Total non-current assets 11,844,039 11,116,076 Total assets $ 12,316,463 $ 11,519,176 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable and accrued liabilities $ 566,984 $ 352,101 Convertible notes, net of discounts 2,188,631 4,419,927 Short-term notes 2,466,018 680,672 Promissory note 267,500 — Receivables funding, net 480,573 211,961 Related party advance, net 253,596 — Government assistance loans 15,078 14,962 Operating lease liability 287,128 38,563 Finance lease liability 8,861 8,426 Related party payables 1,006,929 2,572,292 Total current liabilities 7,541,298 8,298,904 Non-current liabilities Convertible notes, net of discounts 1,749,300 — Promissory note 167,500 — Government assistance loans 8,874 20,520 Operating lease liability 9,974,227 9,383,557 Finance lease liability 9,736 16,475 Total non-current liabilities 11,909,637 9,420,552 Total liabilities 19,450,935 17,719,456 Preferred stock - Series B; $ 1.00 par value 400,000 authorized, 0 issued and outstanding as of September 30, 2024 and December 31, 2023. — — Stockholders' deficit Preferred stock - Series A; $ 0.01 par value, 10,000,000 authorized, 4,600,000 and 4,000,000 shares issued and outstanding as of September 30, 2024 and December 31, 2023 46,000 40,000 Common stock - $ 0.01 par value, 10,000,000,000 shares authorized; 7,729,053,805 and 3,729,053,8

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