10-K Filing

ETHEMA HEALTH CORP CIK: 792935 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001721868-20-000304`
Period End Date	20191231
Filing Date	20200710
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	grst-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 55 Cash Flow Statement 72 Stockholders Equity 19

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	10.00B	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	10.00B	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$24.67K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	155.48M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	124.30M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.98K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$202.65K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	155.48M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$105.84K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	124.30M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$26.62K	USD	Point-in-time
Preferred stock, seriea A, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$147.87K	USD	Point-in-time
Preferred stock, seriea A, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	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
Other current assets	`OtherAssetsCurrent`	$120.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	-	USD	Point-in-time
Preferred stock, series A shares, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Related party Receivables	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Related party Receivables	`DueFromRelatedPartiesCurrent`	$32.65K	USD	Point-in-time
Preferred stock, series A shares, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$407.85K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$255.44K	USD	Point-in-time
Preferred stock, series B, par value (in dollars per share)	`PreferredStockSeriesBParValue`	$0.00	USD	Point-in-time
Preferred stock, series B, par value (in dollars per share)	`PreferredStockSeriesBParValue`	$0.00	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
Deposit on real Estate	`EarnestMoneyDeposits`	-	USD	Point-in-time
Deposit on real Estate	`EarnestMoneyDeposits`	$2.94M	USD	Point-in-time
Preferred stock, series B shares, outstanding	`PreferredStockSeriesBSharesOutstanding`	-	shares	Point-in-time
Preferred stock, series B shares, outstanding	`PreferredStockSeriesBSharesOutstanding`	-	shares	Point-in-time
Due on sale of subsidiary	`DueOnSaleOfSubsidiary`	$372.37K	USD	Point-in-time
Due on sale of subsidiary	`DueOnSaleOfSubsidiary`	$4.97K	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$8.95M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$2.95M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$2.96M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$12.26M	USD	Point-in-time
Total assets	`Assets`	$12.67M	USD	Point-in-time
Total assets	`Assets`	$3.21M	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	-	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	$11.08K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.09M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.02M	USD	Point-in-time
Taxes payable	`AccruedIncomeTaxesCurrent`	$792.91K	USD	Point-in-time
Taxes payable	`AccruedIncomeTaxesCurrent`	$775.39K	USD	Point-in-time
Convertible loans, net of discounts	`ConvertibleLoans`	$4.40M	USD	Point-in-time
Convertible loans, net of discounts	`ConvertibleLoans`	$5.04M	USD	Point-in-time
Short term loans	`ShortTermBorrowings`	$106.93K	USD	Point-in-time
Short term loans	`ShortTermBorrowings`	-	USD	Point-in-time
Mortgage loans	`MortgageLoans`	$172.28K	USD	Point-in-time
Mortgage loans	`MortgageLoans`	$114.29K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$8.69M	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$4.62M	USD	Point-in-time
Related party payables	`NotesPayableRelatedPartiesClassifiedCurrent`	$2.62M	USD	Point-in-time
Related party payables	`NotesPayableRelatedPartiesClassifiedCurrent`	$2.79M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.68M	USD	Point-in-time
Third party loans	`ThirdPartyLoan`	$774.82K	USD	Point-in-time
Third party loans	`ThirdPartyLoan`	-	USD	Point-in-time
Mortgage loans, net of current portion	`LongTermLoansPayable`	$6.71M	USD	Point-in-time
Mortgage loans, net of current portion	`LongTermLoansPayable`	$3.88M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$4.66M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$6.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$23.23M	USD	Point-in-time
Total liabilities	`Liabilities`	$20.39M	USD	Point-in-time
Preferred stock - Series A; $0.01 par value, 3,000,000 authorized, nil outstanding at December 31, 2019 and 2018.	`PreferredStockValueA`	-	USD	Point-in-time
Preferred stock - Series A; $0.01 par value, 3,000,000 authorized, nil outstanding at December 31, 2019 and 2018.	`PreferredStockValueA`	-	USD	Point-in-time
Preferred Stock - Series B; $0.0001 par value, 10,000,000 authorized, nil outstanding at December 31, 2019 and 2018.	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock - Series B; $0.0001 par value, 10,000,000 authorized, nil outstanding at December 31, 2019 and 2018.	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.01 par value, 10,000,000,000 shares authorized; 155,483,897 and 124,300,341 shares issued and outstanding at December 31, 2019 and 2018, respectively.	`CommonStockValue`	$1.55M	USD	Point-in-time
Common stock; $0.01 par value, 10,000,000,000 shares authorized; 155,483,897 and 124,300,341 shares issued and outstanding at December 31, 2019 and 2018, respectively.	`CommonStockValue`	$1.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.19M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$20.94M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$727.98K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$630.41K	USD	Point-in-time
Accumulated deficit	`CumulativeEarningsDeficit`	$-45.49M	USD	Point-in-time
Accumulated deficit	`CumulativeEarningsDeficit`	$-30.53M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-7.72M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-20.02M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$12.67M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$3.21M	USD	Point-in-time

Income Statement 55 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$432.51K	USD	Annual
Revenues	`Revenues`	$359.95K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$909.61K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$664.78K	USD	Annual
Rental expense	`LeaseAndRentalExpense`	$1.36M	USD	Annual
Rental expense	`LeaseAndRentalExpense`	$731.82K	USD	Annual
Management fees	`SponsorFees`	-	USD	Annual
Management fees	`SponsorFees`	$182.43K	USD	Annual
Professional fees	`ProfessionalFees`	$510.72K	USD	Annual
Professional fees	`ProfessionalFees`	$550.62K	USD	Annual
Salaries and wages	`SalariesWagesAndOfficersCompensation`	$1.28M	USD	Annual
Salaries and wages	`SalariesWagesAndOfficersCompensation`	$953.43K	USD	Annual
Depreciation expense	`DepreciationDepletionAndAmortization`	$217.02K	USD	Annual
Depreciation expense	`DepreciationDepletionAndAmortization`	$273.65K	USD	Annual
Impairment expense	`UtilitiesOperatingExpenseImpairments`	$242.51K	USD	Annual
Total operating expenses	`CostsAndExpenses`	$3.32M	USD	Annual
Total operating expenses	`CostsAndExpenses`	$4.56M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-4.20M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-2.88M	USD	Annual
Other income	`OtherIncome`	$6.01K	USD	Annual
Other income	`OtherIncome`	$6.60K	USD	Annual
Other expense	`OtherExpenses`	$8.00K	USD	Annual
Other expense	`OtherExpenses`	-	USD	Annual
Loss on sale of property	`GainLossOnSaleOfProperties`	-	USD	Annual
Loss on sale of property	`GainLossOnSaleOfProperties`	$-1.02M	USD	Annual
Penalty on convertible notes	`PenaltyOnConvertibleNotes`	-	USD	Annual
Penalty on convertible notes	`PenaltyOnConvertibleNotes`	$569.63K	USD	Annual
Loss on conversion of convertible debentures	`ConversionOfStockAmountConverted1`	$203.98K	USD	Annual
Loss on conversion of convertible debentures	`ConversionOfStockAmountConverted1`	-	USD	Annual
Deposit forfeited	`RestrictedStockAwardForfeituresDividends`	-	USD	Annual
Deposit forfeited	`RestrictedStockAwardForfeituresDividends`	$1.67M	USD	Annual
Interest income	`InterestIncomeOperating`	$17.23K	USD	Annual
Interest income	`InterestIncomeOperating`	$5.33K	USD	Annual
Interest expense	`InterestExpense`	$696.94K	USD	Annual
Interest expense	`InterestExpense`	$1.08M	USD	Annual
Debt discount	`AmortizationOfFinancingCosts`	$4.50M	USD	Annual
Debt discount	`AmortizationOfFinancingCosts`	$3.34M	USD	Annual
Derivative liability movement	`DerivativeLiabilityMovement`	$2.60M	USD	Annual
Derivative liability movement	`DerivativeLiabilityMovement`	$422.54K	USD	Annual
Foreign exchange movements	`EffectOfExchangeRateOnCash`	$-428.05K	USD	Annual
Foreign exchange movements	`EffectOfExchangeRateOnCash`	$311.61K	USD	Annual
Net loss before taxation	`NetLossBeforeTaxation`	$-14.96M	USD	Annual
Net loss before taxation	`NetLossBeforeTaxation`	$-8.08M	USD	Annual
Taxation	`Taxation`	-	USD	Annual
Taxation	`Taxation`	$-102.23K	USD	Annual
Net loss	`NetIncomeLoss`	$-8.18M	USD	Annual
Net loss	`NetIncomeLoss`	$-14.96M	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$-166.04K	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$97.56K	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-8.34M	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-14.87M	USD	Annual
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	Annual
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	Annual
Weighted average common shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	123.85M	shares	Annual
Weighted average common shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	136.17M	shares	Annual

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Proceeds on disposal of property	`GainLossOnSaleOfPropertyPlantEquipment`	$182.34K	USD	Annual
Net loss	`NetIncomeLoss`	$-8.18M	USD	Annual
Net loss	`NetIncomeLoss`	$-14.96M	USD	Annual
Depreciation expense	`Depreciation`	$273.65K	USD	Annual
Depreciation expense	`Depreciation`	$217.02K	USD	Annual
Impairment expense	`OtherAssetImpairmentCharges`	$242.51K	USD	Annual
Loss on disposal of property	`GainLossOnSaleOfProperty`	$-1.02M	USD	Annual
Loss on convertible debt conversion	`LossOnDebtConversion`	$-60.48K	USD	Annual
Penalty on convertible debt	`PenaltyOnConvertibleDebt`	$-410.87K	USD	Annual
Bonus shares issued to investors	`BonusSharesIssuedToInvestors`	$-143.50K	USD	Annual
Deposit forfeited	`DepositForfeited`	$1.67M	USD	Annual
Stock based compensation for services	`StockBasedCompensationForServices`	$-375.98K	USD	Annual
Stock based compensation for services	`StockBasedCompensationForServices`	$-8.00K	USD	Annual
Amortization of debt discount	`OtherAmortizationOfDeferredCharges`	$3.34M	USD	Annual
Amortization of debt discount	`OtherAmortizationOfDeferredCharges`	$4.50M	USD	Annual
Derivative liability movements	`DerivativeLiabilityMovements`	$2.60M	USD	Annual
Derivative liability movements	`DerivativeLiabilityMovements`	$422.54K	USD	Annual
Non-cash interest income	`InterestIncomeOther`	$17.19K	USD	Annual
Movement in bad debt reserve	`MovementInBadDebtReserve`	$308.69K	USD	Annual
Movement in bad debt reserve	`MovementInBadDebtReserve`	$520.09K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-536.30K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-405.57K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$52.09K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-121.25K	USD	Annual
Escrow receivable	`IncreaseDecreaseInFinanceReceivables`	$-541.49K	USD	Annual
Escrow receivable	`IncreaseDecreaseInFinanceReceivables`	$-395.16K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$1.40M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayable`	$914.00K	USD	Annual
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$87.31K	USD	Annual
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	-	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.90M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.46M	USD	Annual
Proceeds on disposal of property, net of closing costs of $182,344	`ProceedsOnDisposalOfPropertyNetOfClosingCostsOf183344`	$-4.76M	USD	Annual
Investment in promissory note	`PaymentsToAcquirePropertyPlantAndEquipment`	$120.00K	USD	Annual
Deposits refunded	`DepositRefunded`	$15.59K	USD	Annual
Deposit on property	`DepositOnProperty`	$-1.11M	USD	Annual
Deposit on property	`DepositOnProperty`	-	USD	Annual
Purchase of fixed assets	`PurchaseOfFixedAssets`	$320.12K	USD	Annual
Purchase of fixed assets	`PurchaseOfFixedAssets`	$95.25K	USD	Annual
Net cash generated by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.56M	USD	Annual
Net cash generated by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.43M	USD	Annual
Increase (decrease) in bank overdraft	`IncreaseDecreaseInBankOverdraft`	$28.82K	USD	Annual
Increase (decrease) in bank overdraft	`IncreaseDecreaseInBankOverdraft`	$-11.08K	USD	Annual
Repayment of mortgage	`RepaymentOfMortgage`	$-3.07M	USD	Annual
Repayment of mortgage	`RepaymentOfMortgage`	$-123.14K	USD	Annual
Proceeds from convertible notes	`ProceedsFromConvertibleDebt`	$4.04M	USD	Annual
Proceeds from convertible notes	`ProceedsFromConvertibleDebt`	$2.91M	USD	Annual
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	$2.44M	USD	Annual
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	$697.11K	USD	Annual
Proceeds from promissory notes	`ProceedsFromUnsecuredNotesPayable`	$907.17K	USD	Annual
Repayment of promissory notes	`RepaymentsOfNotesPayable`	$63.23K	USD	Annual
(Repayment) proceeds from related party notes	`ProceedsFromRelatedPartyDebt`	$174.84K	USD	Annual
(Repayment) proceeds from related party notes	`ProceedsFromRelatedPartyDebt`	$-203.66K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.95M	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.36M	USD	Annual
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-440.77K	USD	Annual
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$268.18K	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-21.70K	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$24.34K	USD	Annual
Beginning cash balance	`Cash`	$2.98K	USD	Point-in-time
Beginning cash balance	`Cash`	$24.67K	USD	Point-in-time
Beginning cash balance	`Cash`	$339.00	USD	Point-in-time
Ending cash balance	`Cash`	$2.98K	USD	Point-in-time
Ending cash balance	`Cash`	$24.67K	USD	Point-in-time
Ending cash balance	`Cash`	$339.00	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$551.61K	USD	Annual
Cash paid for interest	`InterestPaid`	$542.58K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Annual
Conversion of debt to equity	`ConversionOfDebtToEquity`	$1.05M	USD	Annual
Fair value of warrants issued	`FairValueOfWarrantsIssued1`	$1.32M	USD	Annual
Fair value of warrants issued	`FairValueOfWarrantsIssued1`	$2.33M	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Value	`StockholdersEquity`	$-7.72M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-20.02M	USD	Point-in-time
Fair value of warrants issued	`FairValueOfWarrantsIssued`	$2.33M	USD	Annual
Fair value of warrants issued	`FairValueOfWarrantsIssued`	$1.32M	USD	Annual
Shares issued for commitment fee, Amount	`SharesIssuedForCommitmentFeeAmount`	$67.59K	USD	Annual
Shares issued for commitment fee, Amount	`SharesIssuedForCommitmentFeeAmount`	$4.98K	USD	Annual
Conversion of convertible notes, Amount	`ConversionOfDebtToEquityAmount`	$1.05M	USD	Annual
Bonus shares issued to investors, Amount	`BonusSharesIssuedToInvestorsValue`	$143.50K	USD	Annual
Shares based compensation, Amount	`StockIssuedDuringPeriodValueShareBasedCompensation`	$8.00K	USD	Annual
Shares based compensation, Amount	`StockIssuedDuringPeriodValueShareBasedCompensation`	$371.00K	USD	Annual
Cancelation of shares	`AdjustmentsToAdditionalPaidInCapitalCancelationOfShares`	$-332.86K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$97.56K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$-166.04K	USD	Annual
Net loss	`NetIncomeLoss`	$-8.18M	USD	Annual
Net loss	`NetIncomeLoss`	$-14.96M	USD	Annual
Ending Balance, Value	`StockholdersEquity`	$-7.72M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-20.02M	USD	Point-in-time

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