10-Q Filing

ETHEMA HEALTH CORP CIK: 792935 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0000721748-16-001252`
Period End Date	20160331
Filing Date	20160513
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	grst-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 40 Cash Flow Statement 61 Stockholders Equity 6

Balance Sheet 80 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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$174.00	USD	Point-in-time
Common Stock Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.54K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$263.79K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$183.58K	USD	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	47.74M	shares	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	47.74M	shares	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	47.74M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$23.41K	USD	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	47.74M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$15.49K	USD	Point-in-time
Related party Receivables	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Related party Receivables	`DueFromRelatedPartiesCurrent`	$75.19K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$199.25K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$365.93K	USD	Point-in-time
Preferred Stock, Series A Shares Authorized	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Preferred Stock, Series A Shares Authorized	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Preferred Stock, Series A Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Series A Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Series A Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Series A Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash - Restricted	`RestrictedCashAndCashEquivalents`	$77.10K	USD	Point-in-time
Cash - Restricted	`RestrictedCashAndCashEquivalents`	$72.25K	USD	Point-in-time
Deposits	`CustomerDepositsNoncurrent`	-	USD	Point-in-time
Deposits	`CustomerDepositsNoncurrent`	$-8.22K	USD	Point-in-time
Preferred Stock, Series B Par Value	`PreferredStockSeriesBParValue`	$0.01	USD	Point-in-time
Preferred Stock, Series B Par Value	`PreferredStockSeriesBParValue`	$0.01	USD	Point-in-time
Preferred Stock, Series B Shares Authorized	`PreferredStockSeriesBSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Series B Shares Authorized	`PreferredStockSeriesBSharesAuthorized`	10.00M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$177.80K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$193.13K	USD	Point-in-time
Preferred Stock, Series B Shares Issued	`PreferredStockSeriesBSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Series B Shares Issued	`PreferredStockSeriesBSharesIssued`	0.00	shares	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$254.90K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$273.60K	USD	Point-in-time
Preferred Stock, Series B Shares Outstanding	`PreferredStockSeriesBSharesOutstanding`	0.00	shares	Point-in-time
Total assets	`Assets`	$472.84K	USD	Point-in-time
Total assets	`Assets`	$620.83K	USD	Point-in-time
Preferred Stock, Series B Shares Outstanding	`PreferredStockSeriesBSharesOutstanding`	0.00	shares	Point-in-time
Bank overdraft	`BankOverdrafts`	$44.91K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	$15.80K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$606.27K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$442.47K	USD	Point-in-time
Taxes payable	`AccruedIncomeTaxesCurrent`	$2.70M	USD	Point-in-time
Taxes payable	`AccruedIncomeTaxesCurrent`	$2.49M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$99.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$181.07K	USD	Point-in-time
Current portion of loan payable	`NotesAndLoansPayableCurrent`	$7.21K	USD	Point-in-time
Current portion of loan payable	`NotesAndLoansPayableCurrent`	$6.68K	USD	Point-in-time
Short Term loan	`ShortTermBorrowings`	$41.33K	USD	Point-in-time
Short Term loan	`ShortTermBorrowings`	$21.68K	USD	Point-in-time
Related party payables	`NotesPayableRelatedPartiesClassifiedCurrent`	$492.93K	USD	Point-in-time
Related party payables	`NotesPayableRelatedPartiesClassifiedCurrent`	$274.50K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.83M	USD	Point-in-time
Loan payable	`LongTermLoansPayable`	$7.54K	USD	Point-in-time
Loan payable	`LongTermLoansPayable`	$8.79K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.83M	USD	Point-in-time
Preferred stock - Series A; $0.01 par value, 3,000,000 authorized, nil outstanding as of March 31, 2016 and December 31, 2015.	`PreferredStockValueA`	-	USD	Point-in-time
Preferred stock - Series A; $0.01 par value, 3,000,000 authorized, nil outstanding as of March 31, 2016 and December 31, 2015.	`PreferredStockValueA`	-	USD	Point-in-time
Preferred Stock - Series B; $0.01 par value, 10,000,000 authorized, nil outstanding as of March 31, 2015 and December 31, 2015.	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock - Series B; $0.01 par value, 10,000,000 authorized, nil outstanding as of March 31, 2015 and December 31, 2015.	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.01 par value, 500,000,000 shares authorized; 47,738,855 shares issued and outstanding as of March 31, 2016 and December 31, 2015.	`CommonStockValue`	$477.39K	USD	Point-in-time
Common stock; $0.01 par value, 500,000,000 shares authorized; 47,738,855 shares issued and outstanding as of March 31, 2016 and December 31, 2015.	`CommonStockValue`	$477.39K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.18M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.18M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$933.83K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$710.72K	USD	Point-in-time
Accumulated deficit	`CumulativeEarningsDeficit`	$-20.58M	USD	Point-in-time
Accumulated deficit	`CumulativeEarningsDeficit`	$-20.72M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.21M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.13M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$620.83K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$472.84K	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$822.84K	USD	1 Quarter
Revenues	`Revenues`	$680.71K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$20.99K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$15.33K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$163.12K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$298.20K	USD	1 Quarter
Management fees	`SponsorFees`	-	USD	1 Quarter
Management fees	`SponsorFees`	$48.37K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$84.01K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$27.64K	USD	1 Quarter
Rent	`LeaseAndRentalExpense`	$74.39K	USD	1 Quarter
Rent	`LeaseAndRentalExpense`	$88.75K	USD	1 Quarter
Salaries and wages	`SalariesWagesAndOfficersCompensation`	$394.52K	USD	1 Quarter
Salaries and wages	`SalariesWagesAndOfficersCompensation`	$444.47K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$675.01K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$984.80K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$147.83K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-304.09K	USD	1 Quarter
Interest expense	`InterestExpense`	$51.54K	USD	1 Quarter
Interest expense	`InterestExpense`	$38.19K	USD	1 Quarter
Foreign exchange movements	`EffectOfExchangeRateOnCash`	-	USD	1 Quarter
Foreign exchange movements	`EffectOfExchangeRateOnCash`	$-33.89K	USD	1 Quarter
Net income (loss) before taxation	`NetLossBeforeTaxationFromContinuingOperations`	$-355.63K	USD	1 Quarter
Net income (loss) before taxation	`NetLossBeforeTaxationFromContinuingOperations`	$143.53K	USD	1 Quarter
Taxation	`Taxation`	-	USD	1 Quarter
Taxation	`Taxation`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$143.53K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-355.63K	USD	1 Quarter
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$315.18K	USD	1 Quarter
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$-223.10K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-79.57K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-40.45K	USD	1 Quarter
Basic Income (loss) per common share	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic Income (loss) per common share	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Diluted Income (loss) per common share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted Income (loss) per common share	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Weighted average common shares outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	47.74M	shares	1 Quarter
Weighted average common shares outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	46.39M	shares	1 Quarter
Weighted average common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	46.39M	shares	1 Quarter
Weighted average common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.01M	shares	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`NetIncomeLoss1`	$-355.63K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss1`	$143.53K	USD	1 Quarter
Depreciation	`Depreciation`	$15.33K	USD	1 Quarter
Depreciation	`Depreciation`	$20.99K	USD	1 Quarter
Provision for bad debts	`AllowanceForLoanAndLeaseLossRecoveryOfBadDebts`	$10.44K	USD	1 Quarter
Provision for bad debts	`AllowanceForLoanAndLeaseLossRecoveryOfBadDebts`	-	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$56.91K	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Other foreign currency movements	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.46K	USD	1 Quarter
Other foreign currency movements	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-207.00	USD	1 Quarter
Non cash movement in deposits	`NonCashMovementInDeposits`	-	USD	1 Quarter
Non cash movement in deposits	`NonCashMovementInDeposits`	$8.22K	USD	1 Quarter
Amortization of beneficial conversion feature	`OtherAmortizationOfDeferredCharges`	$9.61K	USD	1 Quarter
Amortization of beneficial conversion feature	`OtherAmortizationOfDeferredCharges`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-31.09K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-80.21K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-7.92K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$14.63K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$-161.54K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$-109.31K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$206.96K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-72.69K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-82.08K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$34.20K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-422.14K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$40.83K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.61K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used in Investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	-	USD	1 Quarter
Net cash used in Investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-9.61K	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCashAndInvestmentsForOperatingActivities`	-	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCashAndInvestmentsForOperatingActivities`	$-7.35K	USD	1 Quarter
Increase in bank overdraft	`IncreaseDecreaseInBankOverdraft`	$-9.76K	USD	1 Quarter
Increase in bank overdraft	`IncreaseDecreaseInBankOverdraft`	$-29.11K	USD	1 Quarter
Repayment of loan payable	`RepaymentsOfLongtermLoansFromVendors`	$3.94K	USD	1 Quarter
Repayment of loan payable	`RepaymentsOfLongtermLoansFromVendors`	$1.66K	USD	1 Quarter
Proceeds from short-term notes	`ProceedsFromIssuanceOfDebt`	-	USD	1 Quarter
Proceeds from short-term notes	`ProceedsFromIssuanceOfDebt`	$36.81K	USD	1 Quarter
Repayment of short-term notes	`RepaymentOfShorttermNotes`	$18.68K	USD	1 Quarter
Repayment of short-term notes	`RepaymentOfShorttermNotes`	$21.87K	USD	1 Quarter
Proceeds from related party notes	`ProceedsFromRelatedPartyDebt`	$143.24K	USD	1 Quarter
Proceeds from related party notes	`ProceedsFromRelatedPartyDebt`	$25.40K	USD	1 Quarter
Net cash (used by) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$185.64K	USD	1 Quarter
Net cash (used by) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$19.88K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-223.10K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$329.23K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-82.64K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.37K	USD	1 Quarter
Beginning cash balance	`Cash`	$3.54K	USD	Point-in-time
Beginning cash balance	`Cash`	$174.00	USD	Point-in-time
Beginning cash balance	`Cash`	$88.15K	USD	Point-in-time
Beginning cash balance	`Cash`	$5.51K	USD	Point-in-time
Ending cash balance	`Cash`	$3.54K	USD	Point-in-time
Ending cash balance	`Cash`	$174.00	USD	Point-in-time
Ending cash balance	`Cash`	$88.15K	USD	Point-in-time
Ending cash balance	`Cash`	$5.51K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$1.26K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$38.19K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Common stock ussed on conversion of convertible notes	`StockIssuedDuringPeriodValueConversionOfUnits`	$8.12K	USD	1 Quarter

Stockholders Equity 6 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$-3.21M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-3.13M	USD	Point-in-time
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$-223.10K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss2`	$143.53K	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquity`	$-3.21M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-3.13M	USD	Point-in-time

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