Ethema Health Corp (GRST)

[Bubae]

I see you had no comments to add to the link for the Q1 filing. That is because you will find nothing good to comment on. Let me help. 😆 Who told you last year that the crazy property, sale, leaseback scheme to deal with the defaulted debt would show up in a serious cash burn going forward. Cash generated by operating activities was $105,874 for Q1 2023 and a negative $106,569 for Q1 2024, a $212,443 swing in fortunes.

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

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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%

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Liquidity and Capital Resources
Cash used in operating was $106,569 and cash generated by operating activities was $(105,874) for the three months ended March 31, 2024 and 2023, respectively, an increase of $212,443.