text from excel into autocad problem with distance between lines of text that come in

I am trying to export text from excel into autocad. I have been able
to achieve this task.
I specified the distance between lines and the text height.
The first line comes in at a point twice the y distance from where I
specified. Subsequent lines come in correctly at the distance
specified.
What am I doing wrong?
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Dim dist As Double
Dim dist1 As Double
Dim textstring As String
Dim height1 As Double
Dim excel As Object
Dim inspt As Variant
Dim lastrow As Long
Dim rng As Range
Dim endrow
Dim endcol
Dim begrow
Dim begcol
Dim acad As Object
Private Sub CommandButton1_Click()
Set excel = GetObject(, "Excel.Application")
If Err <> 0 Then

Err.Clear
Set excel = CreateObject("Excel.Application")
If Err <> 0 Then
MsgBox "Could not load Excel.", vbExclamation
End
End If
End If

On Error GoTo 0
excel.Visible = True
excel.Sheets("Sheet1").Select
Set excelsheet = excel.ActiveWorkbook.Sheets("Sheet1")
Set rng = excel.Application.InputBox(Prompt:="Select range", Type:=8)
begrow = rng(1).Row
begcol = rng(1).Column
endrow = rng(rng.Count).Row
endcol = rng(rng.Count).Column
excelacadform.Hide
Set acad = GetObject(, "autocad.Application")
height1 = ThisDrawing.Utility.GetReal("text height: ")
dist1 = ThisDrawing.Utility.GetReal("space between lines: ")

PtFlag1 = True
col = begcol
rownum = begrow

While PtFlag1 = True

inspt = ThisDrawing.Utility.GetPoint(, "Enter a point: ")
'inspt(1) = inspt(1) - dist

PtFlag = True
rownum = 1
dist = 0


While PtFlag = True

textstring = excelsheet.Cells(rownum, col).Value
'inspt(1) = inspt(1) - dist
Set textObj = ThisDrawing.ModelSpace.AddText(textstring, inspt,
height1)
textObj.HorizontalAlignment = acHorizontalAlignmentMiddle
textObj.TextAlignmentPoint = inspt

inspt(1) = inspt(1) - dist

rownum = rownum + 1
dist = dist1
'inspt(1) = inspt(1) - dist
If rownum = (endrow + 1) Then PtFlag = False
'inspt(1) = inspt(1) - dist

Wend
col = col + 1
'inspt(1) = inspt(1) - dist

If col = (endcol + 1) Then PtFlag1 = False
'inspt(1) = inspt(1) - dist


Wend
End Sub