GRST · As filed with the SEC

Ethema Health balance sheet, by fiscal year

The statement as Ethema Health presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.

CONSOLIDATED BALANCE SHEETS · USD

USD	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022
Current assets
Cash and Cash Equivalents	59,509	244,771	68,573	140,757
Accounts Receivable	1,446,366	260,841	313,338	337,074
Prepaid Expenses	51,572	23,146	18,159	44,718
Other Non-Operating Current Assets	—	—	3,030	20,347
Total current assets	1,557,447	528,758	403,100	542,896
Non-current assets
Property, Plant and Equipment	1,377,358	699,688	508,401	2,974,395
Total estimated amortization expense	2,972,516	536,971	894,952	1,252,932
Goodwill	3,427,847	—	—	—
Operating Lease Right-of-Use Asset	10,540,982	9,920,592	9,323,723	1,393,071
Right of use assets – Related Parties	8,378,005	—	—	—
Deposits paid	512,824	472,393	389,000	400,000
Total non-current assets	27,209,532	11,629,644	11,116,076	6,020,398
Total assets	28,766,979	12,158,402	11,519,176	6,563,294
Current liabilities
Accounts Payable	1,411,442	764,255	352,101	170,934
Accrued Income Taxes	—	—	—	248,644
Short-Term Debt	—	3,973,245	4,419,927	5,269,250
Short-Term Debt	888,315	—	—	—
Assumed liability	1,624,205	—	—	—
Short-Term Debt	4,017,962	—	—	—
Short-Term Debt	3,253,727	2,575,123	680,672	460,534
Mortgage loans	—	—	—	3,504,605
Receivables funding	—	—	211,961	416,731
Government assistance loans	—	—	—	14,818
Government assistance loans	—	—	14,962	—
Short-Term Debt	265,000	405,000	—	—
Funding arrangements, net	1,165,831	516,247	—	—
Other Non-Operating Current Liabilities	273,461	264,966	—	—
Government assistance loans	21,448	15,088	—	—
Operating Lease Liability, Current	537,884	299,102	38,563	287,017
Operating lease liability – Related parties	540,304	—	—	—
Short-Term Debt	6,195	9,829	8,426	7,891
Dividends Payable	—	—	—	194,829
Related party payables	—	—	2,572,292	—
Short-Term Debt	1,155,217	633,318	—	—
Stock subscription liability	198,600	198,600	—	—
Total current liabilities	15,359,591	9,654,773	8,298,904	13,289,131
Non-current liabilities
Government assistance loans	—	—	—	79,555
Government assistance loans	—	—	20,520	—
Deferred Tax Liabilities, Current	—	—	—	217,451
Third party loans	—	—	—	578,335
Bank loans	3,663,982	—	—	—
Note payable – Related Parties	87,507	—	—	—
Government assistance loans	—	6,149	—	—
Operating lease liability	10,541,565	9,949,454	9,383,557	1,206,413
Operating lease liability – Related parties	8,023,085	—	—	—
Finance lease liability	1,168	6,593	16,475	24,952
Deferred tax liability	726,317	—	—	—
Total non-current liabilities	23,043,624	9,962,196	9,420,552	2,106,706
Total liabilities	38,403,215	19,616,969	17,719,456	15,395,837
Preferred Stock	47,650	47,650	40,000	—
Preferred Class B	—	—	—	400,000
Preferred Class A	—	—	—	40,000
Total Stockholders' Equity	77,262,839	77,290,539	37,290,539	37,290,539
Additional Paid-In Capital	25,013,783	24,986,083	26,187,925	23,419,917
Discount for shares issued below par value	—	—	(27,363,367)	(27,363,367)
Accumulated other comprehensive loss	—	—	—	(5,065)
Discount for shares issued below par value	(65,363,367)	(65,363,367)	—	—
Retained Earnings	(46,597,141)	(44,419,472)	(42,355,377)	(43,484,751)
Total stockholders’ deficit	—	(7,458,567)	(6,200,280)	(10,102,727)
Noncontrolling Interest	—	—	—	870,184
Total stockholders’ deficit	(9,636,236)	—	(6,200,280)	(9,232,543)
Total liabilities and stockholders’ deficit	28,766,979	12,158,402	11,519,176	6,563,294

As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.