GlobeNewswire Inc | Dec 31, 2020 07:01AM EST

December 31, 2020

Niwot, Colorado., Dec. 31, 2020 (GLOBE NEWSWIRE) -- Global Healthcare REIT, Inc. (Currently in a rebranding effort to Selectis Health, Inc.) (OTC: GBCS) ("Selectis" or the "Company") is pleased to announce financial results for the third quarter endedSeptember30, 2020.

THIRD QUARTER 2020 HIGHLIGHTS

-- Record revenue for the third quarter of $6,320,161 (2019 $1,989,103) a growth rate of 218% year-over -year and up 23% from the previous quarter; -- Net Income of $459,177 for the second quarter (2019 $176,582) a growth rate of 160% year-over -year; -- Earnings Per Share for the second quarter of $.02 per share basic and diluted; -- Net increase in Cash of $1,486,290 to a cash balance of $4,755,441 including restricted cash for the third quarter; -- Court approved operations transfer agreement to the Companys wholly owned subsidiary Global Eastman, LLC as the operator of the Dodge Eastman facility; -- Entered into definitive agreement to acquire the 29 licensed bed skilled nursing facility in Fairlands, Oklahoma; -- Company received a line of credit of $500,000 and a construction loan of $750,000 to be used for renovation and capital investment in its Edwards facility from Southern Bank. Both loans carry an interest rate of 4.75% on principal balance; -- On August 18, 2020, the Companys Board of Directors approved the repurchase for redemption of 443,431 shares of common stock for $75,385 or $0.17 per share in a privately negotiated transaction. The redemption has been completed and the shares of common stock cancelled.

Lance Baller, President and CEO, said, "During the third quarter, we were able to complete a number of actions all to the benefit of the Company: we completed the operations transfer of our Eastman facility out of receivership; this is a strong property that will become a great facility for the community, and for our bottom line. The previous operator had not been paying taxes nor rent, and we were able to secure the facility and its operations at a significant discount. The Company was please it was able to negotiate in a private transaction the repurchase of shares during the quarter and at a respectable price. After being 9 months behind on financials, we are currently up to date on all SEC filings of our quarterly reports. We look forward to the completion of the corporate rebranding effort and filing our annual report. We will continue to build out the management team in the coming months to ensure our managed growth. Unfortunately, similar to others in our industry, Covid-19 was a factor during the quarter, specifically at our Tulsa facilities which resulted in a lower than anticipated impact to our census and bottom line. We had a higher-than-normal amount of write offs of bad receivables from the transfer of operations in 2019. On the whole, we are very pleased with the new direction the company is moving towards, and I look forward to 2021 and the improvements we are beginning to deploy.

SUMMARY OF THIRD QUARTER RESULTS

GLOBAL HEALTHCARE REIT, INC.CONSOLIDATED BALANCE SHEETS

September 30, December 31, 2020 2019 (Unaudited) ASSETS Property and Equipment, Net $ 37,617,777 $ 36,394,587 Cash and Cash Equivalents 4,316,683 641,215 Restricted Cash 438,758 351,298 Accounts Receivable, Net 1,903,579 1,188,100 Investments in Debt Securities 24,387 24,387 Intangible Assets - 15,258 Goodwill 1,076,908 379,479 Prepaid Expenses and Other 682,200 883,839 Total Assets $ 46,060,292 $ 39,878,163 LIABILITIES AND EQUITY Liabilities Debt, Net of discount of $428,835 and $ 39,334,439 $ 36,954,184 $493,353, respectivelyDebt ? Related Parties, Net of discount of 1,120,787 1,025,000 $4,213 and $0, respectivelyAccounts Payable and Accrued Liabilities 3,403,398 1,241,573 Accounts Payable ? Related Parties 9,900 32,156 Dividends Payable 7,500 7,500 Lease Security Deposit 250,000 251,100 Total Liabilities 44,126,024 39,511,513 Commitments and Contingencies Equity Stockholders? Equity Preferred Stock: Series A - No Dividends, $2.00 StatedValue, Non-Voting; 2,000,000 Shares 401,000 401,000 Authorized, 200,500 Shares Issued andOutstandingSeries D - 8% Cumulative, Convertible,$1.00 Stated Value, Non-Voting; 1,000,000 375,000 375,000 Shares Authorized, 375,000 Shares Issuedand OutstandingCommon Stock - $0.05 Par Value; 50,000,000Shares Authorized, 26,971,094 and27,441,040 Shares Issued and Outstanding at 1,348,554 1,372,052 September 30, 2020 and December 31, 2019,respectivelyAdditional Paid-In Capital 10,344,542 10,385,417 Accumulated Deficit (10,333,388 ) (11,962,220 )Total Global Healthcare REIT, Inc. 2,135,708 571,249 Stockholders? EquityNoncontrolling Interests (201,440 ) (204,599 )Total Equity 1,934,268 366,650 Total Liabilities and Equity $ 46,060,292 $ 39,878,163

See accompanying notes to unaudited consolidated financial statements.

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GLOBAL HEALTHCARE REIT, INC.CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED)

Nine Months Ended Three Months Ended September 30, September 30, 2020 2019 2020 2019 Revenue Rental Revenue $ 1,628,904 $ 2,789,220 $ 484,299 $ 963,645 Healthcare 13,673,323 2,089,386 5,835,862 1,025,458 RevenueTotal Revenue 15,302,227 4,878,606 6,320,161 1,989,103 Expenses General and 1,723,153 891,031 1,007,383 320,195 AdministrativePropertyTaxes,Insurance and 8,757,802 1,596,835 3,771,827 703,816 OtherOperatingProvision for(Recovery of) 229,799 - (34,091 ) - DebtsAcquisition 209,946 6,771 181,292 6,771 CostsDepreciationand 1,174,899 969,834 406,796 323,983 AmortizationTotal Expenses 12,095,599 3,464,471 5,333,207 1,354,765 Income from 3,206,628 1,414,135 986,954 634,338 OperationsOther (Income) ExpenseGain onWarrant - (2,785 ) - (27 )LiabilityGain onExtinguishment (80,400 ) - - - of DebtGain on Sale - (1,069 ) - - of InvestmentsGain onProceeds from - (324,018 ) - (53,754 )InsuranceClaimInterest (465 ) (26,248 ) (465 ) (19,245 )IncomeInterest 1,633,002 1,595,363 516,431 524,503 ExpenseTotal Other(Income) 1,552,137 1,241,243 515,966 451,477 ExpenseNet Income 1,654,491 172,892 470,988 182,861 Net (Income)LossAttributable (3,159 ) 7,231 (4,311 ) 1,221 toNoncontrollingInterestsNet IncomeAttributableto Global 1,651,332 180,123 466,677 184,082 HealthcareREIT, Inc.Series DPreferred (22,500 ) (22,500 ) (7,500 ) (7,500 )DividendsNet IncomeAttributable $ 1,628,832 $ 157,623 $ 459,177 $ 176,582 to CommonStockholdersPer Share Data:Net Income perShareAttributable to CommonStockholders:Basic $ 0.06 $ 0.01 $ 0.02 $ 0.01 Diluted $ 0.06 $ 0.01 $ 0.02 $ 0.01 WeightedAverage Common SharesOutstanding:Basic 27,352,220 27,228,919 27,202,449 27,438,076 Diluted 27,726,628 27,228,919 27,202,449 27,438,076

For Further Information Contact:Brandon Thallinvestors@selectis.com