Ethema Health Corp (GRST)

[Bubae]

Well those are some funny numbers right? Lets see $11.5 million for assets. The Chart on page one of the Quarterly filing indeed does show $11,559,481 in total assets. You will note however that $9,316,039 under that column is listed as "Right of use assets" which is the lease liability as a result of the crazy purchase sale leaseback scheme. That number shows up as $9,427,628 in the liabilities section of teh same chart listed under "Operating lease liability". Total liabilities is $18,133,964. This is called a balance sheet for a reason.

As for your other numbers... The Q1 year over year numbers are below. They rolled the old defaulted debt up into the purchase, sale, leaseback, scheme resulted in an increase of 131% which is now burning badly needed cash. The year over year revenue is flat yet their salaries and wages increased by 23%. Your so called net profit is actually a net loss of $374,203 which is a 113% increase over Q1 2023.


For the quarterly period ended March 31, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000792935/000190359624000371/grst_10q.htm

Revenues
Revenues were $1,300,100 and $1,300,046 for the three months ended March 31, 2024 and 2023, respectively, an increase of $54 or 0%.

Operating Expenses
Operating expenses were $1,529,175 and $1,225,020 for the three months ended March 31, 2024 and 2023, respectively, an increase of $304,155 or 24.2%. The increase is primarily due to the following:

Abbreviated list

Rent expense was $265,132 and $114,564 for the three months ended March 31, 2024 and 2023, respectively, an increase of $150,568 or 131.4%.The increase is primarily due to an increase in rental which arose on the acquisition of the building from our landlord and the immediate disposal of the building to a third party on August 4, 2023,...

Salaries and wages were $727,741 and $592,036 for the three months ended March 31, 2024 and 2023, respectively, an increase of $135,678 or 22.9%. The increase is due the increase in staff headcount during the current year.

Operating loss (income)
The operating loss was $(229,074) and operating income was $75,026 for the three months ended March 31, 2024 and 2023, respectively, an increase in loss of $304,100 or 405.3%.

Net loss
Net loss was $374,203 and $175,717 for the three months ended March 31, 2024 and 2023, respectively, an increase of $198,486 or 113.0%