Sunday, November 26, 2023 4:34:38 PM
Ethema Executes Two Real Estate Transactions and Major Debt Repayment
July 17, 2023 09:34 ET
https://www.globenewswire.com/en/news-release/2023/07/17/2705721/0/en/Ethema-Executes-Two-Real-Estate-Transactions-and-Major-Debt-Repayment.html
The great results continued in October and claims billed set another record monthly high for ARIA. We have delivered on our commitment to grow revenue and cut debt and expect to continue to deliver on these two fronts.”
For the quarterly period ended September 30, 2023
https://www.otcmarkets.com/filing/html?id=17070521&guid=aPJ-kWiGKgSidth
2. Summary of significant accounting policies (continued)
l) Revenue recognition
The Company’s provision for doubtful accounts are recorded as a direct reduction to revenue instead of being presented as a separate line item on the consolidated statements of operations and comprehensive loss.
The Company derives a significant portion of its revenue from other payors that receive discounts from established billing rates. The various managed care contracts under which these discounts must be calculated are complex, subject to interpretation and adjustment,...
Settlements with third-party payors are estimated and recorded in the period in which the related services are rendered and are adjusted in future periods as final settlements are determined. In the opinion of management, adequate provision has been made for any adjustments and final settlements. However, there can be no assurance that any such adjustments and final settlements will not have a material effect on the Company’s financial condition or results of operations. The Company’s receivables were $681,072, $337,074 and $176,011 at September 30, 2023, December 31, 2022 and December 31, 2021, respectively. Management believes that these receivables are properly stated and are not likely to be settled for a significantly different amount.
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