Regional Health Properties 10-Q Filed

TL;DR

**RHP 10-Q is IN! Check financials for Q2 2024.**

AI Summary

Regional Health Properties, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results and provided updates on its operations. Key financial figures and operational details are disclosed in this quarterly report.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Regional Health Properties, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — Quarterly reports can reveal significant financial shifts or operational challenges that impact stock value.

Key Numbers

• $560,000 — Stock Compensation Expense (For the period April 1, 2023 to June 30, 2023)
• $2,252,000 — Insurance Financing Amortization (As of June 30, 2024)

Key Players & Entities

• REGIONAL HEALTH PROPERTIES, INC (company) — Filer
• ADCARE HEALTH SYSTEMS, INC (company) — Former Company Name
• Newpoint Capital (company) — Senior Debt Obligation
• Glenvue Health and Rehabilitation (company) — Senior Debt Obligation

FAQ

Filing Documents

• rhe-20240630.htm (10-Q) — 2438KB
• rhe-ex31_1.htm (EX-31.1) — 13KB
• rhe-ex31_2.htm (EX-31.2) — 13KB
• rhe-ex32_1.htm (EX-32.1) — 7KB
• rhe-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-24-096210.txt ( ) — 11847KB
• rhe-20240630.xsd (EX-101.SCH) — 1738KB
• rhe-20240630_htm.xml (XML) — 2545KB

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Consolidated Statements of Operations for the three and six and months ended June 30, 2024 and 2023 4 Consolidated Statements of Stockholders' Equity (Deficit) for the three and six and months ended June 30, 2024 and 2023 5 Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 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 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 34 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 35 Item 3. Defaults upon Senior Securities 35 Item 4. Mine Safety Disclosures 35 Item 5. Other Information 36 Item 6. Exhibits 36

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements REGIONAL HEALTH PROPERTIES, INC. AND SUBSIDIARIES CONSOLIDATED B ALANCE SHEETS (Amounts in 000's) June 30, 2024 December 31, 2023 (Unaudited) ASSETS Property and equipment, net $ 39,866 $ 40,398 Asset held for sale, net 4,851 4,939 Cash 679 953 Restricted cash 2,895 3,231 Accounts receivable, net of allowances of $ 2,082 and $ 2,040 1,817 1,403 Prepaid expenses and other 894 609 Notes receivable 1,020 1,044 Intangible assets - bed licenses 2,471 2,471 Intangible assets - lease rights, net 77 87 Right-of-use operating lease assets 2,352 2,556 Goodwill 1,585 1,585 Lease deposits and other deposits 4 4 Straight-line rent receivable 2,809 2,901 Total assets $ 61,320 $ 62,181 LIABILITIES AND EQUITY (DEFICIT) Senior debt, net $ 39,796 $ 40,401 Debt related to asset held for sale, net 3,388 3,454 Bonds, net 5,848 5,991 Other debt, net 1,213 889 Accounts payable 3,615 2,493 Accrued expenses 4,323 4,060 Operating lease obligation 2,693 2,917 Other liabilities 1,861 1,791 Total liabilities 62,737 61,996 Stockholders' (deficit) equity: Common stock and additional paid-in capital, no par value; 55,000 shares authorized; 1,915 shares issued and 1,904 shares outstanding at June 30, 2024; and 1,850 shares issued and 1,839 shares outstanding at December 31, 2023 63,125 63,059 Preferred stock, no par value; 5,000 shares authorized (including amounts authorized for Series A and Series B); shares issued and outstanding designated as follows: Preferred stock, Series A, no par value; 560 shares authorized, issued and outstanding at June 30, 2024 and December 31, 2023, with a redemption amount $ 426 at June 30, 2024 and December 31, 2023 426 426 Preferred stock, Series B, no par value; 2,812 shares authorized; 2,252 shares issued and outstanding at June 30, 2024 and December 31,

View Full Filing

View this 10-Q filing on SEC EDGAR