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I don't expect to hear anything good about our ceo, all the predictions u made, none has become true. Want to run a business, get your own, most important, have u confronted Shawn Leon with all your findings...We know why!
No need to make it a rights issue. Shawn Leon is free to spin the story any way he likes within the rules but he should expect to be fact checked by the filings. There is a reason that companies are required to report. I support all my posts with links to the information for those conducting their own due diligence and the information speaks for itself. This is why the messenger needs not be credible, the credibility comes from the source of the information which is the SEC filings and the previous public comments from the company. The reliability and credibility of that information is the responsibility of government regulators. I know its free speech but to deframe someones character without providing proof.
How all that reflects on the company and Shawn Leon is of their own doing. Proof? My favorite Ethema Health scheme to unload debt conversions happened at the end of February 2022 and is described with links in my post # 49668 below. This is what the company is capable of and if it reflects badly on the company who's fault is that? That was the last time Ethema Health was able to con traders into buying debt conversions. The story is no longer selling so Shawn Leon is trying to find new funding to keep this borrowing Ponzi scheme going.Bubae
Re: None
Thursday, February 08, 2024 8:07:56 AM
Post# 49668 of 50221
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173800424
Those new to this stock should be aware of the nature of those who run this company. They will need to fix this share structure soon in order to move those reg "A" shares and we may see a final dump of shares before this happens. An example is the Leonite share dump of February 28th 2022. February 27th Ethema Health announces a series of press releases to come. Twitter followers showed up the next morning to the tune of 200 million shares traded in the first 30 minutes running it up just over .001 where Leonite hammered it with the new shares. Four press releases and 654 million shares for the week and by the following Friday it was trading right back where it started. It was a pretty good tactic and shows what happens when a company and toxic lender collaborate.
I know its free speech but to deframe someones character without providing proof. Don't know why you are here wasting your time bad mouthing the ceo of a company you no longer own stock in. Do you not beleive our ceo deserve any pay?
Interesting post in May 2022. GRST - I received a Replay From Mr. Shawn Leon that Might Clear some Peoples mind???.....- I did sent him few posts and did asked few questions???.....
janetcanada
Re: None
Tuesday, May 24, 2022 12:13:02 PM
Post# 42737 of 51142
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168956778
In Q3 2021 not only was I not paid a management fee, I reversed an old accrual for management fees owed to me from many years previous. So instead of taking money I cancelled a debt owed to me. This was a benefit to the company of $229,175.
Lets break down what you call Shawn Leon' "good money" Looks like the Leons needed to acquire more than 50% of Ethema Health for voting control because they need to make some moves here to protect what they call "friendly debt" held by themselves and these series "N" and now "R" note holders. So Shawn Leon takes the debt owed to him and Leon Developments by the company and writes himself a Regulation "D" offering for $1.5 million. Where did this debt owed to Shawn Leon come from? He is claiming the $420K is accrued management fees citing an agreement with Addiction Recovery of America (ARIA) which Shawn Leon took for himself in December 2022 for $0. In the 2023 deal to hand over Cranberry Cove, the holding company for the Canadian to Leonite for debt owed Shawn Leon was awarded "approximately $185,503" in so called accrued management fees. That is $605,503 in management fees. Yet what we see owed to Leon Developments jumped $242K from the end of 2022 to the end of Q2 2023. The balance of the debt owed to Leon Development comes from the sale of assets to Ethema Health by Leon Developments back in 2017. Shawn Leon is not gonna put his good money into a bad company, he's smarter than that! Some of the series "N" notes "friendly debt" was reworked in Q1 using newly created series "R" notes. Looks like one note holder exited with interest while others paid interest from these notes. Excerpts below full text in on page 24 of the filing. The previously defaulted series "N" notes have new expiration dates of December 2024 and December 2025. The series "N: balance as of June 30th $3,701,846 down from $4,228,161 as of December 31st 2023, chart page 17 of Q2 filing. Add in the new series "R" notes totaling $1,081,578 as of June 30th, page 18, we have a new total $4,783,424 of so called "friendly debt". Filings going back years state that management fees were forfeited. The language is pretty unambiguous concerning this subject in the filings. Looks to me like he is trying to take the $420K as part of the conversions to acquire more than a 52% stake in this to take the sting out of it. They must believe that they need controlling interest to work the plan. That plan is in the interest of those who held more than $7 million in what Shawn Leon calls "friendly debt".
The Leons use a couple of regulation "D" offerings to move the debt owed them to equity ownership priced at only $0.0005 a share giving them more than 52% ownership. That $0.0005 price exemption for these insiders was carved out in the Leonite warrant exchange agreement in 2023. I have many questions about this including the use of the regulation "D" offering for unregistered shares which is normally used to raise new capital. Questions about management fees which is income being converted full value to equity when there should have been tax consequences. The conversion of debt owed from the sale of the Canadian assets to Ethema Health which should have also had tax consequences at least in Canada. The awarding of management fees to Shawn Leon after years of filings stating that such fees were were "forfeited". Very sloppy, waiting to see if the Leons are going to compound the problems by acting on their majority ownership to the detriment of existing shareholders. Hey, this is only the cliff notes version, this whole deal is layered for a reason and sloppy in my opinion. Take a look at the title of Exhibit 10.02 of the July 2023 8K. It is titled " Management Agreement Completed July 10, 2024'" it is actually the regulation "D" securities purchase agreement.
https://www.otcmarkets.com/filing/html?id=17679613&guid=aoL-kKMwM2vCJth#ex10_2_htm
SECURITIES PURCHASE AGREEMENT
NOW THEREFORE, in consideration of the foregoing and of the agreements and covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Buyer hereby agree as follows:
Bubae
Re: pual post# 51205
Sunday, September 08, 2024 10:28:13 AM
Post# 51209 of 51307
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175050042&txt2find=series%2Bnotes
Bubae
Re: janetcanada post# 50744
Wednesday, July 31, 2024 10:48:11 AM
Post# 50749 of 50826
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174841515&txt2find=management%2Bfees
For the quarterly period ended June 30, 2023
https://www.otcmarkets.com/filing/html?id=16878947&guid=aoL-kKMwM2vCJth
14. Related party transactions
Shawn E. Leon
As of June 30, 2023 and December 31, 2022, the Company had a payable to Shawn Leon of $365,126 and $411,611, respectively. Mr. Leon is a director and CEO of the Company. The balances payable are non-interest bearing and have no fixed repayment terms.
On December 30, 2022, the Company sold its wholly-owned subsidiaries, Greenestone Muskoka and ARIA, to Mr. Leon for gross proceeds of $0. The Company realized a gain on disposal of $628,567 which was recorded as an increase in Additional Paid in Capital due to the related party nature of the transaction.
Due to the current financial position of the Group, Mr. Leon forfeited the management fees due to him for the six months ended June 30, 2023 and the year ended December 31, 2022.
Leon Developments, Ltd.
Leon Developments is owned by Shawn Leon, the Company’s CEO and director. As of June 30, 2023 and December 31, 2022, the Company owed Leon Developments, Ltd., $1,092,701 and $850,607, respectively.
The Company paid Leon Developments a management fee of CDN$250,000 (approximately $185,503) and $0 for the six months ended June 30, 2023 and 2022, respectively.
On June 30, 2023, the Company assumed the liability owing to Leon developments of CDN$1,974,012 (approximately $1,490,946) from its subsidiary, CCH, immediately prior to the disposal of CCH to a related party, Leonite Capital LLC.
Shawn Leon is not gonna put his good money into a bad company, he's smarter than that!
I found your comment about Shawn Leon being a current board member for Sparta Capital Ltd to be comical. I googled who the current board members are for this company and sure enough there it is, Shawn E. Leon: Independent Director. The problem is that Sparta Capital Ltd (SCAXF) is another stinky pink ticker that only trades on the expert market. 🙄Maybe you can list the eight companies that he headed up according to your post. That should be a hoot. 😆 ***Presently, he holds the position of President, Chief Executive Officer, CFO & Director at Ethema Health Corp. Mr. Leon is also on the board of Sparta Capital Ltd. Shawn E. Leon is a Canadian Businessperson who has been the head of 8 Different Companies.
Sparta Capital Corp. SCAXF
https://www.otcmarkets.com/stock/SCAXF/overview
https://finance.yahoo.com/quote/SCAXF/profile/
Have to quit listening to Shawn Leon, the year over year numbers tell the real story. The cash burn consequences from the crazy property purchase, sale, leaseback deal of August 2023 finally showed up in the Q1 and Q2 numbers to cover what was $2.3 million in mostly defaulted debt. The Evernia treatment center is fine, they have a separate lease agreement with Ethema Health. That is the business model, the debt and liabilities to get the treatment center up and running belong to Ethema Health shareholders. They keep the treatment center balance sheet clean in secure the new debt. If things go sideways these lenders will walk away with the treatment center operations used to secure the new debt.
More consequences to come with the crazy property, purchase, sale, leaseback deal of August 2023. That base payment increases 2.75% a year on the August anniversary date and the leaseback company covered themselves against inflation by tying the payment to the annual CPI. The expensive promotion for Q2 to sell the regulation "A" offering failed. Now Shawn Leon is trying to find a way to do another property purchase, sale, lease back deal to cover the new very short term debt he took on already for 2024. There is a $600K note that matures on November 15th with some nasty default terms to include ownership of 25% of ATHI direct shares, the holding company for the treatment center. Ethema just did a ridiculous deal in Q1 with Lawrence Hawkins for $1.1 million for his 25%. Yeah, they are still trying to buy the Evernia treatment center that they financed beginning in 2020. 🙄
August 4th 2023 Lease Agreement
https://www.otcmarkets.com/filing/html?id=16855888&guid=iEN-kF378EVAB3h#ex10_6_htm
For the quarterly period ended June 30, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000792935/000190359624000535/grst_10q.htm
Page 29 and 30
For the six months ended June 30, 2024 and June 30, 2023.
Revenues
Revenues were $2,790,200 and $2,866,005 for the six months ended June 30, 2024 and 2023, respectively, a decrease of $75,805 or 2.6%...
Operating Expenses
Operating expenses were $3,296,785 and $2,758,833 for the six months ended June 30, 2024 and 2023, respectively, an increase of $537,952 or 19.5%. The increase is primarily due to the following:...
Operating (loss) income
The operating loss was $(506,585) and the operating income was $107,172 for the six months ended June 30, 2024 and 2023, respectively, an increase of $613,757 or 572.7%.
Page 32
Over the next twelve months we estimate that the company will require approximately $3.5 million for working capital and to repay existing short-term notes as the business continues to develop its rehab business in the US market. The Company has convertible notes, short term loans and promissory notes which will mature or have already matured during the current year and may have to raise equity or secure debt. There is no assurance that the Company will be successful with future financing ventures, and the inability to secure such financing may have a material adverse effect on the Company’s financial condition. In the opinion of management, the Company’s liquidity risk is assessed as high due to this uncertainty.
Nevermind, I got what u are saying now!
Hey Janet, thanks for your post, can u send me info, why u think or say that?
Ethema Health was bankrupt and done in 2023 Paul. I was absolutely correct that the business was bankrupt. The Leons had to personally guarantee the the crazy property purchase, sale, leaseback deal of August 2023 to bail it out. They refinanced that $2.3 million in mostly defaulted debt into a lease liability of more than $9 million, more than $19 million over the 20 year term. Leonite held a note that refinanced defaulted debt the previous year secured by all assets of ATHI the holding company for the treatment centers and Ethema Health which finally forced their hand. Now Shawn Leon has so badly fumbled the regulation "A" offering and taken out a couple of more million in debt in 2024 that he claims to be trying another property purchase, sale, leaseback deal with the Edgewater properties. Think the Leons have enough on their personal ledger to underwrite another disaster? 😆 In any case, according to your smart analysises, comments and repetitions, this company should have died at least a dozen times (conservatively) within the last 3 years. The company failed in 2023 in my opinion. Shawn Leon had to do the property purchase, sale, leaseback scheme to cover the $2.3 in mostly defaulted debt. Now they are financing not only the debt over 20 years but also the $5.5 million property price and the nearly $1 million in fees. That deal was personally guarnteed by both Shawn Leon, and his spouse Eileen Greene, by Ethema Health and ATHI, the holding company for the treatment centers. They have been funding this Evernia treatment center for four years now and they still can't say Ethema Health shareholders own the operation and will never own the property even after paying for it. Ethema Health has taken on the debt and funded the build out of the treatment center and still are paying out Lawrence Hawkins with $1.1 million for the last 25%. That makes no sense if you know the history here. The man has already made a small fortune off of this.
Now it would appear that these people are fools but I would like someone with the means to follow the cash. Millions of Ethema Health cash has went into the Evernia treatment center and now Shawn Leon is paying Lawrence Hawkins $1.1 million for the last 25%. No way should that be possible in my opinion given what Shawn Leon bought into in 2020 which was really nothing of a treatment center. Go to 9:00 in the January podcast linked below where Shawn Leon is talking about the Evernia treatment center purchase negotiated 51% ownership for zero dollars in return for financing to open the new facility. Compare the millions that went into Evernia to the $240K for the hard assets and a lease that they just took over the Boca treatment center for with roughly half the beds of Evernia. Now Ethema Health went from a slight cash flow positive position in 2023 when they weren't paying on that defaulted debt to one of a serious quarterly cash burn because now they must pay. OTC retail traders aren't bailing out the Leons and their so called "friendly debt holders" anymore.
Bubae
Member Level
Re: janetcanada post# 51157
Tuesday, September 03, 2024 6:18:11 AM
Post# 51159 of 51298
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175023681&txt2find=guaranty
Bubae
Re: Welcome2Pinkyland post# 50921
Wednesday, August 14, 2024 9:16:24 AM
Post# 50922 of 51298
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174917110&txt2find=lease%2Bback
Then sell your shares (if you have some) and go to the casino if you really believe the risk-reward is the same. GOOD LUCK ...
Janet, you are so right, it's a very good point!
Shawn Leon got schooled when he came to the U.S. and got mugged by Leonite and others. We are looking at $4,783,424 of so called "friendly debt" that doesn't include the money owed to the Leons and other lenders. That debt and cash from teh sale of the Canadian clinic is money lost in operations since 2017 just from these people. Now these insiders have plans according to Shawn Leon's podcasts to reposition themselves with moves to equity to exit from what I see. The problem is that the orchestrated promotion to convert debt using the offering never materialized. These insiders are stuck until they can convince retail traders to buy the debt. Otherwise the stock and the company is worth very little. The treatment centers are all leveraged by lenders and have good balance sheets thanks to the losses of Ethema Health (GRST) shareholders. So whoever ends up with the treatment centers will do well with all the liabilities and debt owned by Ethema Health shareholders. A financial genius Shawn Leon is clearly NOT! So now Ethema Health is paying Lawrence Hawkins another $1.1 million for his 25% of the Evernia Treatment Center. This wasn't anything of a treatment center when purchased and is why they refer to it as a start-up in the 2021 press release. So they acquired the assets of the Boca facility for only $240K and assumed the lease which has about half of the number of beds as the Evernia facility. 🙄 Where did the money spent on Evernia go folks. Lawrence Hawkins now walks away with $1.1 million while Ethema Health bleeds cash? Just in case any of you Ethema longs were wondering where your current and future losses are going. That is just one example. 😆 I have posted what the moves that the Leons have made but said little about the repositioning of those series "N" note holders that Shawn Leon dubbed "friendly debt" and we have also learned are "advisors" to the company. Shawn Leon talked about this debt being converted to equity and in the January podcast. In the July 18th podcast he talks about the creation of a new series of preferred shares.
Bubae
Re: None
Thursday, September 19, 2024 4:15:19 PM
Post# 51251 of 51290
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175110973
Bubae
Re: pual post# 51205
Sunday, September 08, 2024 10:28:13 AM
Post# 51209 of 51290
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175050042&txt2find=series%2Bnotes
'
👀***GRST - In all "Honesty you see (50-50)" ....."In all Honesty and Logic".... I think that by taking into Consideration MR. Shawn Leon: " Background- Education- and Large Investment into the Company".... ***The Probability to Succeed are Better than to the ones that he will Fail!.....
👀 Shawn E. Leon is a Canadian Businessperson who has been the head of 8 Different Companies.
👀***Presently, he holds the position of President, Chief Executive Officer, CFO & Director at Ethema Health Corp. Mr. Leon is also on the board of Sparta Capital Ltd.
👀***In the past he was President of Leon Developments Ltd., President for Port Carling Inn Developments Ltd., President for Locks Developments Ltd., President at JLeon Developments Ltd., President at 1816191 Ontario Ltd., President of 1816191 Ontario Ltd. and President of Greenestone Clinic Muskoka Inc.
Shawn E. Leon Received an Undergraduate Degree from Wilfrid Laurier University.
👀***https://www.lflgroup.ca/English/home/default.aspx
=======================================================
👀 *** MR. Shawn Leon did also buy shares at 0.079
***LINK*****https://www.secform4.com/filings/792935/0001721868-18-000742.htm
👀***Insider Trading Screener - Enter C0. Symbol........
SecForm4.Com
https://www.secform4.com/insider-trading/1605331.htm
🍀*** ARIA *** https://www.ariafl.com/
👀***The Company growth is real and the elimination of variable rate debt is real.
👀***We will continue to focus on growth while improving our balance sheet.
👀***Please Read Post #42737 & 42751 - Interesting Reply from The CEO!
👀.https://nz.finance.yahoo.com ›
👀***Time will Tell The Story!.....
There is only one way to interpret a CEO's comments about stock consolidation, and SEC qualified regulation "A" offering. So the assumptions and link to data you provided is all you need to know to make a bet on a OTC ticker? That explains your underwater position in this for the last several years. I didn't see anything in there about the CEO's comments. I also do not see anything in there about the crushing debt. Nothing about the expensive short term note of $600K due November 15th. Nothing about the Bauman note with anti-dilution language that is currently eligible. And so on. The new Mirage Realty note for $600K in the Q2 filing appears to be the same $600K note in the subsequent events section of the Q1 filing. The Q1 filing didn't say who held the note but did include the default language while the Q2 filing identified the note holder yet conveniently left off the default language. The default calculation is essentially the 25% of ATHI shares that Ethema Health just paid $1.1 million for. Details that you aren't suppose to notice. Shawn Leon need to go shopping for new loans because the offering is dead. At 11:00 in to the segment Shawn Leon starts talking about the current offering and the creation of a new series of convertible preferred shares. He says We have no convertible, we have no variable rate debt, then admits finally that they do have this small note that um.... Reality is as of March 31st they have a $124K Bauman note balance with an automatic conversion feature dated August 9th that Shawn Leon now claims will be settled without conversion.
Shawn Leon's reg "A" offering has failed once again so he is working on another property leaseback deal to refinance. He has no choice at this point but to pursue some more expensive debt to cover. This has been a borrowing Ponzi scheme for years now and their luck may be running pout if they can't get the property leaseback deal as part of the Edgewater letter of intent. The other option is to go ahead and split the stock and burn it down with the subsequent dilution to get what funds they can.
Bubae
Re: None
Thursday, August 22, 2024 10:05:19 PM
Post# 51036 of 51288
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174970951&txt2find=mirage
Bubae
Re: None
Thursday, July 18, 2024 8:20:54 PM
Post# 50636 of 50903
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174776225&txt2find=bauman%2Bconvert
AI
