SEGMENT REPORTING

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

SEGMENT REPORTING

12. SEGMENT REPORTING

The Company had two primary reporting segments during the years ended December 31, 2021 and 2020, which include real estate services and healthcare services. The Company reports segment information based on the “management approach” defined in ASC 280, Segment Reporting. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of our reportable segments.

Total assets for the healthcare services and real estate services segments were $15,760,764 and $32,427,627, respectively, as of December 31, 2021, and $11,859,440 and $34,073,043, respectively, as of December 31, 2020.

	Statements of Operations Items for the Year Ended
	December 31, 2021									December 31, 2020
	Real Estate Services			Healthcare Services			Consolidated			Real Estate Services			Healthcare Services			Consolidated
Rental Revenue	$	626,808		$	-			626,808		$	2,112,459		$	-		$	2,112,459
Healthcare Revenue		-			26,921,547			26,921,547			-			17,436,047			17,436,047
Healthcare Grant Revenue		-			1,514,728			1,514,728			-			1,380,192			1,380,192
Management Revenue		-			224,143			224,143			-			-			-
Total Revenue		626,808			28,660,418			29,287,226			2,112,459			18,816,239			20,928,698
Expenses
Property Taxes, Insurance and Other Operating		1,268,523			20,204,874			21,473,397			580,265			12,804,057			13,384,322
General and Administrative		2,811,409			3,100,525			5,911,934			866,787			1,221,935			2,088,722
Provision for Bad Debts		-			897,538			897,538			-			292,529			292,529
Acquisition Costs		-			-			-			207,899			-			207,899
Depreciation and Amortization		1,099,385			633,964			1,733,349			1,343,109			237,191			1,580,300
Total Expenses		5,179,317			24,836,901			30,016,218			2,998,060			14,555,712			17,553,772
Income (Loss) from Operations		(4,552,509	)		3,823,517			(728,992	)		(885,601	)		4,260,527			3,374,926
Other (Income) Expense
Interest Expense		1,673,796			824,097			2,497,893			1,905,106			234,795			2,139,901
Gain on Forgiveness of PPP Loan		-			(675,598	)		(675,598	)		-			-			-
Gain on Extinguishment of Debt		-			65,623			65,623			(107,500	)		(1,619,849	)		(1,727,349	)
Other (Income) Expense		(98,506	)		(536,017	)		(634,523	)		-			-			-
Lease Termination Expense		258,943			-			258,943			-			-			-
Total Other (Income) Expense		1,834,233			(321,895	)		1,512,338			1,797,606			(1,385,054	)		412,552
Net Income (Loss)		(6,386,742	)		4,145,412			(2,241,330	)		(2,683,207	)		5,645,581			2,962,374
Net (Income) Loss Attributable to Noncontrolling Interests		(10,650	)		-			(10,650	)		(6,554	)		-			(6,554	)
Net Income (Loss) Attributable to Selectis Health, Inc.	$	(6,397,392	)	$	4,145,412		$	(2,251,980	)	$	(2,689,761	)	$	5,645,581		$	2,955,820