10-Q Filing

ETHEMA HEALTH CORP CIK: 792935 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0000721748-14-000443`
Period End Date	20140331
Filing Date	20140514
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	grst-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 92 Income Statement 38 Cash Flow Statement 57 Stockholders Equity 14

Balance Sheet 92 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	47.09M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	29.75M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	41.07M	shares	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	29.75M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	41.07M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$376.64K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$279.71K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$440.92K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	47.09M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$123.41K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$109.85K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$97.35K	USD	Point-in-time
Inventory	`InventoryGross`	$12.55K	USD	Point-in-time
Inventory	`InventoryGross`	$11.94K	USD	Point-in-time
Inventory	`InventoryGross`	$34.92K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$511.99K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$563.32K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$411.98K	USD	Point-in-time
Cash - Restricted	`RestrictedCashAndCashEquivalents`	$90.47K	USD	Point-in-time
Cash - Restricted	`RestrictedCashAndCashEquivalents`	-	USD	Point-in-time
Cash - Restricted	`RestrictedCashAndCashEquivalents`	$94.02K	USD	Point-in-time
FIXED ASSETS	`NoncurrentAssets`	$568.88K	USD	Point-in-time
FIXED ASSETS	`NoncurrentAssets`	$551.64K	USD	Point-in-time
FIXED ASSETS	`NoncurrentAssets`	$536.12K	USD	Point-in-time
Total Assets	`Assets`	$1.05M	USD	Point-in-time
Total Assets	`Assets`	$1.19M	USD	Point-in-time
Total Assets	`Assets`	$1.08M	USD	Point-in-time
Bank indebtedness	`BorrowedFunds`	$144.49K	USD	Point-in-time
Bank indebtedness	`BorrowedFunds`	$126.07K	USD	Point-in-time
Bank indebtedness	`BorrowedFunds`	$46.02K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$846.20K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$703.92K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$657.26K	USD	Point-in-time
Harmonized sales tax payable	`SalesAndExciseTaxPayableCurrent`	$378.83K	USD	Point-in-time
Harmonized sales tax payable	`SalesAndExciseTaxPayableCurrent`	$608.50K	USD	Point-in-time
Harmonized sales tax payable	`SalesAndExciseTaxPayableCurrent`	$594.12K	USD	Point-in-time
Withholding taxes payable	`TaxesPayableCurrent`	$1.80M	USD	Point-in-time
Withholding taxes payable	`TaxesPayableCurrent`	$1.17M	USD	Point-in-time
Withholding taxes payable	`TaxesPayableCurrent`	$1.89M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$140.47K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$55.03K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$107.48K	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayableCurrent`	$1.41M	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayableCurrent`	$139.00K	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayableCurrent`	$246.61K	USD	Point-in-time
Current portion of auto loan payable	`LoansPayableCurrent`	$8.04K	USD	Point-in-time
Current portion of auto loan payable	`LoansPayableCurrent`	$7.95K	USD	Point-in-time
Current portion of auto loan payable	`LoansPayableCurrent`	$7.65K	USD	Point-in-time
Short-Term loan	`ShortTermBankLoansAndNotesPayable`	$64.54K	USD	Point-in-time
Short-Term loan	`ShortTermBankLoansAndNotesPayable`	-	USD	Point-in-time
Short-Term loan	`ShortTermBankLoansAndNotesPayable`	$53.54K	USD	Point-in-time
Related party notes	`NotesPayableRelatedPartiesClassifiedCurrent`	$622.36K	USD	Point-in-time
Related party notes	`NotesPayableRelatedPartiesClassifiedCurrent`	$559.61K	USD	Point-in-time
Related party notes	`NotesPayableRelatedPartiesClassifiedCurrent`	$308.13K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.27M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.41M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.01M	USD	Point-in-time
LOAN PAYABLE	`NotesAndLoansPayable`	$28.45K	USD	Point-in-time
LOAN PAYABLE	`NotesAndLoansPayable`	$25.11K	USD	Point-in-time
LOAN PAYABLE	`NotesAndLoansPayable`	$36.04K	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.44M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.04M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.30M	USD	Point-in-time
Common stock; $0.01 par value, 500,000,000 shares authorized; 47,088,864 shares issued and outstanding	`CommonStockValue`	$470.89K	USD	Point-in-time
Common stock; $0.01 par value, 500,000,000 shares authorized; 47,088,864 shares issued and outstanding	`CommonStockValue`	$410.66K	USD	Point-in-time
Common stock; $0.01 par value, 500,000,000 shares authorized; 47,088,864 shares issued and outstanding	`CommonStockValue`	$297.47K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.16M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.64M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.97M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$49.06K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$458.31K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$264.13K	USD	Point-in-time
Accumulated deficit	`CumulativeEarningsDeficit`	$-12.56M	USD	Point-in-time
Accumulated deficit	`CumulativeEarningsDeficit`	$-10.68M	USD	Point-in-time
Accumulated deficit	`CumulativeEarningsDeficit`	$-11.93M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-2.99M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-3.44M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-3.36M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-3.10M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$1.08M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$1.19M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$1.05M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$1.14M	USD	1 Quarter
Revenues	`Revenues`	$1.44M	USD	1 Quarter
Cost of services provided	`CostOfGoodsAndServicesSold`	$293.09K	USD	1 Quarter
Cost of services provided	`CostOfGoodsAndServicesSold`	$288.57K	USD	1 Quarter
Gross margin	`GrossProfit`	$1.15M	USD	1 Quarter
Gross margin	`GrossProfit`	$851.21K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$34.56K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$44.27K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$242.71K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$149.80K	USD	1 Quarter
Interest	`InterestExpense`	$38.73K	USD	1 Quarter
Interest	`InterestExpense`	$31.39K	USD	1 Quarter
Management fees	`ManagementFeeExpense`	$49.59K	USD	1 Quarter
Management fees	`ManagementFeeExpense`	$54.37K	USD	1 Quarter
Meals and entertainment	`TravelAndEntertainmentExpense`	$1.10K	USD	1 Quarter
Meals and entertainment	`TravelAndEntertainmentExpense`	$36.00	USD	1 Quarter
Professional fees	`ProfessionalFees`	$100.77K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$62.36K	USD	1 Quarter
Rent	`OperatingLeasesRentExpenseNet`	$250.17K	USD	1 Quarter
Rent	`OperatingLeasesRentExpenseNet`	$258.97K	USD	1 Quarter
Salaries and wages	`SalariesWagesAndOfficersCompensation`	$708.24K	USD	1 Quarter
Salaries and wages	`SalariesWagesAndOfficersCompensation`	$818.88K	USD	1 Quarter
Supplies	`SuppliesAndPostageExpense`	$63.55K	USD	1 Quarter
Supplies	`SuppliesAndPostageExpense`	$77.27K	USD	1 Quarter
Travel	`OtherExpenses`	$10.45K	USD	1 Quarter
Travel	`OtherExpenses`	$4.38K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.53M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.47M	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-376.13K	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-623.06K	USD	1 Quarter
Accumulated other comprehensive loss Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossRealized`	$96.79K	USD	1 Quarter
Accumulated other comprehensive loss Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossRealized`	$194.17K	USD	1 Quarter
Total comprehensive loss	`OperatingIncomeLoss`	$-428.89K	USD	1 Quarter
Total comprehensive loss	`OperatingIncomeLoss`	$-279.34K	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.06M	shares	1 Quarter
Weighted average outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	45.94M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-376.13K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-623.06K	USD	1 Quarter
Depreciation	`Depreciation`	$34.56K	USD	1 Quarter
Depreciation	`Depreciation`	$44.27K	USD	1 Quarter
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-331.86K	USD	1 Quarter
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-588.50K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.40K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$161.21K	USD	1 Quarter
Harmonized sales tax	`IncreaseDecreaseInAccruedTaxesPayable`	$65.54K	USD	1 Quarter
Harmonized sales tax	`IncreaseDecreaseInAccruedTaxesPayable`	$14.38K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-12.19K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$12.50K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$4.23K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-22.37K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$-17.66K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$-46.66K	USD	1 Quarter
Withholding taxes payable	`IncreaseDecreaseInOtherEmployeeRelatedLiabilities`	$134.38K	USD	1 Quarter
Withholding taxes payable	`IncreaseDecreaseInOtherEmployeeRelatedLiabilities`	$91.12K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-75.32K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-52.45K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-430.77K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-229.48K	USD	1 Quarter
Purchase of fixed assets	`GainLossOnDispositionOfAssets`	$-50.07K	USD	1 Quarter
Purchase of fixed assets	`GainLossOnDispositionOfAssets`	$4.41K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-50.07K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.41K	USD	1 Quarter
(Repayment of) proceeds from bank indebtedness	`ProceedsFromBankDebt`	$-80.05K	USD	1 Quarter
(Repayment of) proceeds from bank indebtedness	`ProceedsFromBankDebt`	$73.69K	USD	1 Quarter
Net decrease ( increase ) in restricted cash	`IncreaseDecreaseInRestrictedCashAndInvestments`	$3.55K	USD	1 Quarter
Net decrease ( increase ) in restricted cash	`IncreaseDecreaseInRestrictedCashAndInvestments`	-	USD	1 Quarter
Repayment of loan payable	`ProceedsFromRepaymentsOfDebt`	$-3.64K	USD	1 Quarter
Repayment of loan payable	`ProceedsFromRepaymentsOfDebt`	$-2.96K	USD	1 Quarter
Repayment of short term loan	`RepaymentsOfSubordinatedShortTermDebt`	$-11.00K	USD	1 Quarter
Repayment of short term loan	`RepaymentsOfSubordinatedShortTermDebt`	-	USD	1 Quarter
Conversion of convertible notes payable	`InducedConversionOfConvertibleDebtExpense`	$-412.97K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$55.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$25.12K	USD	1 Quarter
Proceeds from additional paid-in capital	`ProceedsFromContributionsFromParent`	$385.55K	USD	1 Quarter
Proceeds from additional paid-in capital	`ProceedsFromContributionsFromParent`	$327.75K	USD	1 Quarter
Advances from related party notes	`ProceedsFromRelatedPartyDebt`	$254.70K	USD	1 Quarter
Advances from related party notes	`ProceedsFromRelatedPartyDebt`	$103.82K	USD	1 Quarter
Repayment of related party notes	`RepaymentOfNotesReceivableFromRelatedParties`	$-137.06K	USD	1 Quarter
Repayment of related party notes	`RepaymentOfNotesReceivableFromRelatedParties`	$-166.56K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$286.67K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$128.28K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCash`	$194.17K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCash`	$96.79K	USD	1 Quarter
Beginning cash balance (deficiency)	`Cash`	-	USD	Point-in-time
Beginning cash balance (deficiency)	`Cash`	-	USD	Point-in-time
Beginning cash balance (deficiency)	`Cash`	-	USD	Point-in-time
Beginning cash balance (deficiency)	`Cash`	-	USD	Point-in-time
Ending cash balance ( Including restricted )	`RestrictedCashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Ending cash balance ( Including restricted )	`RestrictedCashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$31.39K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$38.73K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Value	`StockholdersEquity`	$-2.99M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-3.44M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-3.36M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-3.10M	USD	Point-in-time
Common stock issued for convertible note, Shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	523,298.00	shares	1 Quarter
Common stock issued for convertible note, Value	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$548.16K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$194.17K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$96.79K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-376.13K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-623.06K	USD	1 Quarter
Ending Balance, Value	`StockholdersEquity`	$-2.99M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-3.44M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-3.36M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-3.10M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.