10-Q Filing

ETHEMA HEALTH CORP CIK: 792935 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001721868-19-000268`
Period End Date	20190331
Filing Date	20190515
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	grst-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 90 Income Statement 42 Cash Flow Statement 64 Stockholders Equity 15

Balance Sheet 90 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 Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	124.37M	shares	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	124.30M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$25.58K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$24.67K	USD	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	124.37M	shares	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	124.30M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$279.93K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$202.65K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$246.53K	USD	Point-in-time
Preferred Stock, Seriea A Par Value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Seriea A Par Value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$147.87K	USD	Point-in-time
Related party Receivables	`DueFromRelatedPartiesCurrent`	$32.65K	USD	Point-in-time
Preferred Stock, Series A Shares Authorized	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Related party Receivables	`DueFromRelatedPartiesCurrent`	$51.01K	USD	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
Assets held for resale	`AssetsHeldForResale`	$1.79M	USD	Point-in-time
Preferred Stock, Series A Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Assets held for resale	`AssetsHeldForResale`	-	USD	Point-in-time
Preferred Stock, Series A Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.39M	USD	Point-in-time
Preferred Stock, Series A Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$407.85K	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
Deposit on real Estate	`EarnestMoneyDeposits`	$2.92M	USD	Point-in-time
Preferred Stock, Series B Shares Authorized	`PreferredStockSeriesBSharesAuthorized`	10.00M	shares	Point-in-time
Deposit on real Estate	`EarnestMoneyDeposits`	$2.94M	USD	Point-in-time
Preferred Stock, Series B Shares Authorized	`PreferredStockSeriesBSharesAuthorized`	10.00M	shares	Point-in-time
Due on sale of subsidiary	`DueOnSaleOfSubsidiary`	$372.37K	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
Due on sale of subsidiary	`DueOnSaleOfSubsidiary`	$74.83K	USD	Point-in-time
Preferred Stock, Series B Shares Outstanding	`PreferredStockSeriesBSharesOutstanding`	0.00	shares	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$7.15M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$8.95M	USD	Point-in-time
Preferred Stock, Series B Shares Outstanding	`PreferredStockSeriesBSharesOutstanding`	0.00	shares	Point-in-time
Right of use assets	`RightOfUseAssets1`	$15.74M	USD	Point-in-time
Right of use assets	`RightOfUseAssets1`	-	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$25.89M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$12.26M	USD	Point-in-time
Total assets	`Assets`	$28.28M	USD	Point-in-time
Total assets	`Assets`	$12.67M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.09M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.62M	USD	Point-in-time
Taxes payable	`AccruedIncomeTaxesCurrent`	$775.39K	USD	Point-in-time
Taxes payable	`AccruedIncomeTaxesCurrent`	$751.90K	USD	Point-in-time
Convertible loans	`ConvertibleLoans`	$4.40M	USD	Point-in-time
Convertible loans	`ConvertibleLoans`	$4.72M	USD	Point-in-time
Mortgage loans	`MortgageLoans`	$172.28K	USD	Point-in-time
Mortgage loans	`MortgageLoans`	$3.03M	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	-	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	$782.80K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$4.62M	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$5.65M	USD	Point-in-time
Related party payables	`NotesPayableRelatedPartiesClassifiedCurrent`	$2.67M	USD	Point-in-time
Related party payables	`NotesPayableRelatedPartiesClassifiedCurrent`	$2.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.68M	USD	Point-in-time
Mortgage loans	`LongTermLoansPayable`	$6.71M	USD	Point-in-time
Mortgage loans	`LongTermLoansPayable`	$3.88M	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability1`	-	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability1`	$15.05M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$6.71M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$18.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$20.39M	USD	Point-in-time
Total liabilities	`Liabilities`	$38.16M	USD	Point-in-time
Preferred stock - Series A; $0.01 par value, 3,000,000 authorized, nil outstanding as of March 31, 2019 and December 31, 2018.	`PreferredStockValueA`	-	USD	Point-in-time
Preferred stock - Series A; $0.01 par value, 3,000,000 authorized, nil outstanding as of March 31, 2019 and December 31, 2018.	`PreferredStockValueA`	-	USD	Point-in-time
Preferred Stock - Series B; $0.01 par value, 10,000,000 authorized, nil outstanding as ofMarch 31, 2019 and December 31, 2018.	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock - Series B; $0.01 par value, 10,000,000 authorized, nil outstanding as ofMarch 31, 2019 and December 31, 2018.	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.01 par value, 500,000,000 shares authorized; 124,371,452 and 124,300,341 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively.	`CommonStockValue`	$1.24M	USD	Point-in-time
Common stock; $0.01 par value, 500,000,000 shares authorized; 124,371,452 and 124,300,341 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively.	`CommonStockValue`	$1.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$20.94M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.82M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$630.41K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$673.51K	USD	Point-in-time
Accumulated deficit	`CumulativeEarningsDeficit`	$-30.53M	USD	Point-in-time
Accumulated deficit	`CumulativeEarningsDeficit`	$-33.62M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-7.72M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-9.88M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-7.72M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-9.88M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$28.28M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$12.67M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$82.02K	USD	1 Quarter
Revenues	`Revenues`	$113.30K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$382.15K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$193.73K	USD	1 Quarter
Rental expense	`EquipmentExpense`	-	USD	1 Quarter
Rental expense	`EquipmentExpense`	$570.07K	USD	1 Quarter
Management fees	`SponsorFees`	-	USD	1 Quarter
Management fees	`SponsorFees`	$46.53K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$44.15K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$38.01K	USD	1 Quarter
Salaries and wages	`SalariesWagesAndOfficersCompensation`	$185.16K	USD	1 Quarter
Salaries and wages	`SalariesWagesAndOfficersCompensation`	$404.26K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$75.88K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$68.42K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$531.85K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.48M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-418.54K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.39M	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$15.28K	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$49.00	USD	1 Quarter
Interest expense	`InterestExpense`	$170.45K	USD	1 Quarter
Interest expense	`InterestExpense`	$345.10K	USD	1 Quarter
Debt discount	`AmortizationOfFinancingCosts`	$752.95K	USD	1 Quarter
Debt discount	`AmortizationOfFinancingCosts`	$761.94K	USD	1 Quarter
Derivative liability movement	`DerivativeLiabilityMovement`	$12.16K	USD	1 Quarter
Derivative liability movement	`DerivativeLiabilityMovement`	$473.30K	USD	1 Quarter
Foreign exchange movements	`EffectOfExchangeRateOnCash`	$129.12K	USD	1 Quarter
Foreign exchange movements	`EffectOfExchangeRateOnCash`	$-137.90K	USD	1 Quarter
Net loss before taxation from continuing operations	`NetLossBeforeTaxationFromContinuingOperations`	$-1.22M	USD	1 Quarter
Net loss before taxation from continuing operations	`NetLossBeforeTaxationFromContinuingOperations`	$-3.09M	USD	1 Quarter
Taxation	`Taxation`	-	USD	1 Quarter
Taxation	`Taxation`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.22M	USD	1 Quarter
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$-53.19K	USD	1 Quarter
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$43.10K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.05M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.27M	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 common shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	124.36M	shares	1 Quarter
Weighted average common shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	123.24M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.22M	USD	1 Quarter
Depreciation	`Depreciation`	$75.88K	USD	1 Quarter
Depreciation	`Depreciation`	$68.42K	USD	1 Quarter
Non cash interest accrual on escrow deposit	`NonCashInterestAccrual`	-	USD	1 Quarter
Non cash interest accrual on escrow deposit	`NonCashInterestAccrual`	$-15.28K	USD	1 Quarter
Non cash compensation for services	`NonCashCompensationForServices`	-	USD	1 Quarter
Non cash compensation for services	`NonCashCompensationForServices`	$11.55K	USD	1 Quarter
Non-cash discount on convertible debt	`NoncashDiscountOnConvertibleDebt`	-	USD	1 Quarter
Non-cash discount on convertible debt	`NoncashDiscountOnConvertibleDebt`	$48.00K	USD	1 Quarter
Amortization of debt discount	`OtherAmortizationOfDeferredCharges`	$752.95K	USD	1 Quarter
Amortization of debt discount	`OtherAmortizationOfDeferredCharges`	$761.94K	USD	1 Quarter
Derivative liability movements	`DerivativeLiabilityMovements`	$473.30K	USD	1 Quarter
Derivative liability movements	`DerivativeLiabilityMovements`	$12.16K	USD	1 Quarter
Non-cash deferral of operating lease liability expense	`NoncashDeferralOfOperatingLeaseLiabilityExpense`	$95.30K	USD	1 Quarter
Non-cash deferral of operating lease liability expense	`NoncashDeferralOfOperatingLeaseLiabilityExpense`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-77.28K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$42.49K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-80.41K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$74.63K	USD	1 Quarter
Deposit released from escrow	`DepositReleasedFromEscrow`	$322.16K	USD	1 Quarter
Deposit released from escrow	`DepositReleasedFromEscrow`	$395.35K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$424.78K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$31.75K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$1.93K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	-	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.11M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$223.07K	USD	1 Quarter
Deposits paid	`DepositsPaid`	$-286.91K	USD	1 Quarter
Deposits paid	`DepositsPaid`	$-2.66K	USD	1 Quarter
Purchase of fixed assets	`PurchaseOfFixedAssets`	-	USD	1 Quarter
Purchase of fixed assets	`PurchaseOfFixedAssets`	$8.18K	USD	1 Quarter
Net cash used in Investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.83K	USD	1 Quarter
Net cash used in Investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-286.91K	USD	1 Quarter
Decrease in bank overdraft	`IncreaseDecreaseInBankOverdraft`	$25.88K	USD	1 Quarter
Decrease in bank overdraft	`IncreaseDecreaseInBankOverdraft`	-	USD	1 Quarter
Repayment of mortgage loans	`RepaymentOfMortgage`	$-33.19K	USD	1 Quarter
Repayment of mortgage loans	`RepaymentOfMortgage`	$-33.40K	USD	1 Quarter
Proceeds from convertible notes	`ProceedsFromConvertibleDebt`	$600.00K	USD	1 Quarter
Proceeds from convertible notes	`ProceedsFromConvertibleDebt`	$1.57M	USD	1 Quarter
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	$523.80K	USD	1 Quarter
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	$330.00K	USD	1 Quarter
Proceeds from related party notes	`ProceedsFromRelatedPartyDebt`	$-1.08K	USD	1 Quarter
Proceeds from related party notes	`ProceedsFromRelatedPartyDebt`	$21.40K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.01M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$232.33K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$111.31K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-141.49K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$905.00	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$27.00K	USD	1 Quarter
Beginning cash balance	`Cash`	$24.67K	USD	Point-in-time
Beginning cash balance	`Cash`	$27.34K	USD	Point-in-time
Beginning cash balance	`Cash`	$339.00	USD	Point-in-time
Beginning cash balance	`Cash`	$25.58K	USD	Point-in-time
Ending cash balance	`Cash`	$24.67K	USD	Point-in-time
Ending cash balance	`Cash`	$27.34K	USD	Point-in-time
Ending cash balance	`Cash`	$339.00	USD	Point-in-time
Ending cash balance	`Cash`	$25.58K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$411.61K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$141.24K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Fair value of warrants issued	`FairValueOfWarrantsIssued1`	-	USD	1 Quarter
Fair value of warrants issued	`FairValueOfWarrantsIssued1`	$874.57K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Value	`StockholdersEquity`	$-7.72M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-9.88M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-7.72M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-9.88M	USD	Point-in-time
Fair value of warrants issued	`FairValueOfWarrantsIssued`	$874.57K	USD	1 Quarter
Shares issued for commitment fee, Amount	`SharesIssuedForCommitmentFeeAmount`	$4.98K	USD	1 Quarter
Shares issued for commitment fee, Amount	`SharesIssuedForCommitmentFeeAmount`	$11.55K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$43.10K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$-53.19K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.22M	USD	1 Quarter
Ending Balance, Value	`StockholdersEquity`	$-7.72M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-9.88M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-7.72M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-9.88M	USD	Point-in-time

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