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Anyone who has dealt with a company selling a regulation "A" offering knows to stay out of this. Ethema Health is such sad shape that they can't get the offering sold after a year and a half. The original offering was filed in October 2022 and the amended offerings since was qualified November 3rd 2023.
The SEC is widening its war on toxic funders
Published on August 24, 2021
https://www.linkedin.com/pulse/sec-widening-its-war-toxic-funders-steve-taylor/
...it also increasingly utilized qualified Reg A offerings to acquire free-trading stock which they then dumped into the market without disclosure....
...This was a significant concern, as Reg A shares are immediately free-trading. That makes it much more attractive to many investors compared to restricted securities sold under Reg D exemptions, but it also is definitely more attractive to those looking to make a quick buck by breaking the law. This case demonstrates the SEC may not have been looking hard enough at the Reg A market for fraud, as certain financiers and funders have been scalping stock without disclosure in the filings....
...Section 17(b) of the Securities Act of 1933 requires anyone that is paid to promote a stock must disclose the amount of the payment and who paid them. This is probably the most violated SEC regulation, which is not a surprise as it is also the least enforced. Toxic funders routinely pay promoters to pump the stocks in which they are funding. ...
...To make money on their toxic convertible loan, these funders require volume to dump into. Lots of volume, because they have a lot of stock to sell. Thus the need for lots of promoters, most of whom are non-disclosing as telling the public they are getting paid to pump, and who paid them to do it, would scare even the most die-hard penny plunger away....
I will not sell at that price but I would not buy either if I had no shares here in. Leon seems to be unable to do what is required to grow the business. He must invest and/or find a way to acquire capital to at least make the current business profitable before investing for growth.
I'm still at 50-50 and I believe our friend is disappointed to see that Leon did produce his financials again (better late than never). I hope Leon will get more agressive toward getting new funds from either a new large investor or thru a grant from a government. Our market cap is way under water because our debt but we have a huge growth potential if a new investment come in, operating successfully in a market offering infinite growth potential.
I wish Leon the best (very selfishly) but hope he will do more than playing with current financial numbers.
Man you need to take a course....
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000792935/000190359624000279/grst_10k.htm
Companies borrow money to grow! The money GRST borrows brings up multiple times the amount.
GRST is getting more and more out of the mess from the past. It is good to see they start to think about expanding the clinic.
The 50-50 chance is becoming 60-40... GRST might indeed be the best investment in years.
You need to borrow money to grow! Even if you have the cash, it is better to borrow the money.
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000792935/000190359624000279/grst_10k.htm
All with links, so it must be true 👍🏼
They continue to borrow for 2024 to keep it going. Have to wonder where Shawn Leon was planning to get the cash to pay that four month note dated November 15th 2023. The maturity date was extended to April 15th 2024 and no mention of its disposition in the subsequent events section of the filing. Will he ever get that regulation "A" offering off the ground? They can't convert debt because their shares are practically worthless and they continue to burn cash. What to do 🤔
For the fiscal year ended: December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000792935/000190359624000279/grst_10k.htm
Page F-20
Mirage Realty, LLC
On November 15, 2023, the Company, entered into a senior secured promissory note in the aggregate principal amount of $250,000 for net proceeds of $223,500 after an original issue discount and fees of $26,500. The note earns interest at 10% per annum and originally matured on March 15, 2024. The maturity date was extended to April 15, 2024, with no change to the terms of the note or any additional consideration paid to the noteholder.
$GRST Pink Current Information
Thank you Mr. Leon!
Great job
Revenues up 5000% since 2018!!!
Shawn Leon has always kept a letter of intent for something going up until around July of last year. Link to press releases below going back to 2018 and not a single one was ever completed. They are good for the quarterly promo. The question for the moment is when is split to support the regulation "A" offering. Also, how is Ethema Health able to put up the all the treatment center (ATHI) assets to secure the new $1 million line of credit when the 75% ownership they claim is already leveraged for debt. The more than $4 million is series "N" notes have been in default since 2022.
https://www.globenewswire.com/en/search/organization/Ethema%2520Health%2520Corporation
Ethema Executes Two Real Estate Transactions and Major Debt Repayment
July 17, 2023 09:34 ET
https://www.globenewswire.com/en/news-release/2023/07/17/2705721/0/en/Ethema-Executes-Two-Real-Estate-Transactions-and-Major-Debt-Repayment.html
The previous announced LOI for the purchase of an acquisition in South Carolina was terminated due to an inability to extend it any further without a commitment of funds to close. Until such time as the Company has the resources and cash on hand to consummate such an acquisition, it will defer entering into any further LOI.
Leon operates in the behavioral healthcare space specifically in the treatment of substance use disorders. This is a huge market and the potential for growth is almost unlimited. However Leon also is stuck with a huge debt. On the otherhand, the market value of the company is currently only $1,500,000 or so. What I hope for is for someon to join Leon with some millions, to help him reduce significantly the debt and at the sametime to expand the business. That scenario with enormously increase the market value, the investor would see its value of his investment multiplied by a factor of more than 10 times (Higher revenue potential, lower debt, increased growt opportunity). That's why I believe we have a 50-50 chance to see that toy becoming a real business offering growth potential. (the other 50 of the 50-50 is for Leon to keep operating a small company (many petshops have a higher market value than our current one) till there is no hope for him to acquire the capital required for him to succeed That's why I consider the GRST stock a fun BET. Let the dices roll!
Thanks and believe me I do
Non-binding Letter Of Intent (”LOI”) to acquire assets and assignment of lease and sub lease for Boca cove Detox Center
On March 22, 2024, the Company executed a LOI to acquire certain assets, including furniture, equipment inventory and supplies of Boca Cove Detox, LLC, along with the assignment of lease and sub-lease for premises located at 899 Meadow Avenue, Boca Raton, Florida.
https://bocacovedetox.com/
The purchase price is $240,000 with monthly repayment of $20,000 per month beginning on the Effective Date, defined below, of the agreement for a period of 12 months. The Company paid a non-refundable Exclusivity Deposit (“Exclusivity Deposit”) to the Seller, which deposit will be applied to the purchase price. In addition, upon the execution of the transaction documents, the Company will pay to the seller a Security Deposit (“Security Deposit”) of $83,393 which will be applied to the purchase price if the assignment of the lease is completed within 12 months of the effective date, if not completed within 11 months of the effective date, than $20,000 will be applied to the 12 installment of the purchase price, with the remaining balance of $63,393 remaining as the Security Deposit and applied to the last month of the sub-lease agreement.
The Effective Date is the earlier of the Company obtaining a license for the premises or 30 days from the signing of the LOI and the payment of the Exclusivity Deposit.
The Exclusivity period is to last as long as the parties are negotiating the terms of the transaction documents or 30 days from the date of execution of the LOI, which was executed on Match 25, 2024, whichever date is later.
===============================
Let show our support to the ceo
Let's give him ,our full support
Enjoy every day as much as you can. No time to waste. 🫡
Company just let me know it will be tomorrow 7May
YOU'RE LUCKY ... I Shall be dead in 10 years or even much earlier considering statistics.
I can't wait to see the filling of $OMID, cause in 40years I'm dead.
😂
What will be less fun will be your byass and negative tainted analysis of whatever it is the facts will really tell. As for shareholders they already know what kind of revenues they can expect and that the company is still carrying enormous debts. They however will be happy to see that Leon is still working his a.. off, trying to improve the situation and the company is still operating normally.
What we all (including you) probably will not know is: whatever Leon is trying to do to save the company long term.
All of that being said, any honest shareholer will keep looking at that as a bet (instead of an investment) and accept to wait on what side the coin will drop???
Can't wait to see the filing. 😆 Should be a fun read. While you were talking to them did you ask why they can't get the regulation "A" offering off the ground after a year and a half. When is the split to support it?
Hope you are right and (take no offense) may be Leon will give a detailled explanation of why this happenned. I (we) want to trust Leon but maybe a little more transparancy could help his shareholders ???
I contacted Mr Leon again... filling will be out today.
Maybe you should contact people iso talking out of your butt...
I just provided the info I got from the company. I contacted them again today. They apologized.
It took some longer as they expected and we know why... but the filling will be out TODAY.
Posting a filling out on a Monday... always good!
@Bubae when is OMID going to fill? 😂
GRST - In all Fairness.....Why any one should Take your Word???...You are Not a Shareholder....Regardless the News....You "Systematically" Defame the Company!!!......🤥
Did you really take declaes's word for what they said after two and a half years of BS they have spewed on this board? Maybe you should have asked for the source for the information that they posted or given their history, dismissed it out of hand. 🙄
That's 10 days ago? Any update or what? Thanks!
The last time they filed the 10K late was in 2020 and didn't release it until July 10th 2020. What happened that year was the closing of their second failed treatment center. They dumped 1.3 billion shares in the first eight weeks of 2020. Look what they said about the Canadian property in January 2020 while they were closing their only treatment center. That property was their best performing asset and they handed it over to Leonite for Debt in 2023. That was the second property that Leonite acquired for debt from Ethema Health. Has Shawn Leon's Ethema Health finally hit the end of the road?
Ethema Working on Acquisition Financing and Debt Reduction for 1st Quarter
January 16, 2020 15:31 ET
https://www.globenewswire.com/en/news-release/2020/01/16/1971711/0/en/Ethema-Working-on-Acquisition-Financing-and-Debt-Reduction-for-1st-Quarter.html
The termination of the operation in West Palm Beach will dramatically reduce the negative cash flow of the Company and allow it to focus on cleaning up the debt on the balance sheet as it works towards completing the acquisition. As part of these efforts to reduce debt, the Company is in talks with certain lenders and shareholders of the Company, around the possible sale of the Canadian subsidiary that owns the real estate of the Company’s former operations in Canada. This could help reduce the majority of the debt in one step.
For the fiscal year ended: December 31, 2019
https://www.sec.gov/Archives/edgar/data/792935/000172186820000304/f2sgrst10k070620.htm
Net loss
Net loss of $(14,962,841) and $(8,178,643) for the years ended December 31, 2019 and 2018, respectively, an increase of $6,784,198 or 83.0%, is primarily due to the increase in operating expenses in the current year, the loss on the sale of assets, the loss on debt conversions, the penalty on convertible notes and the deposit forfeited, offset by the increased credit on the derivative liability movement during the current year.
On December 20, 2019, the Company entered into an agreement to terminate the lease agreement on January 30, 2020. The deposit forfeited was $1,665,078 for the year ended December 31, 2019. The deposit forfeited represents deposits initially paid for the acquisition of the West Palm Beach treatment facility located at 5400, 5402 and 5410 East Avenue West Palm Beach. We were unable to consummate the purchase transaction and entered into a lease agreement with the landlord, the deposit initially paid was offset against outstanding rental. The excess was recorded as a forfeiture.
For the quarterly period ended March 31, 2020
https://www.sec.gov/Archives/edgar/data/792935/000172186820000426/f2sgrst10q092120.htm
12. Stockholders' deficit
a) Common shares
Between January 6, 2020 and February 27, 2020, the Company issued 1,316,679,078 shares of common stock in terms of conversion notices received from convertible note holders. The shares issued were issued below par based on the market price of the stock on the date of conversion and were valued at $531,005.
What an incompetent CEO, if that's what you want to call him. Never trust a convicted felon.
They have some problems filling bc the old auditor has to sign off the 2022 part and had to wait till the 2023 numbers were final. It wil probably take a few (5) more days.
Did he mention which week? Month? Year? 🙈😅😂
Yeah, you provide links, but write misleading bullshit about the links.
I provide a link too. GRST going to $1 soon...
https://www.sec.gov/ix?doc=/Archives/edgar/data/792935/000190359623000912/grst_10q.htm
Maybe it is better to do your own DD iso listen to an idiot that has been writing posts every day for the past 5 years on a MB of a penny stock, of a stock he does not even owns, for the 10 people that are looking here.
Gaflm
Since you know as much as any, you and those believing that this is a lost cause have 50% chance of being right. On the otherhand, those wishing this to become very profitable have 50% chances of being right.
Those wanting to do their due diligence should not decide based on the herein expressed opinions promoting one out come or another (That applies to your stupid posts trying to prove that only a desastrous outcome is possible (you obviously having a secret agenda).
Any serious due diligence will made a potencial shareholders to conclude that BETTING on this stock offers a 50-50 chance of being successful (a real operation is behind this stock) or desastrous (the company most find a way to solve its debt issue.
If one is not a gambler, he should just stay away from this stock or BET money he can afford to lose with no serious consequences.
Only a fool will play the expert analyzing such a high risk OTC sub-sub-sub penny stock as if it was a blue chip.;
I provide links for the quotes that I post and form opinions around. You are correct, in some countries you can go to jail for that. This one however is different though it is headed in that direction. Those who cannot debate the truth will certainly try to have it censored. Meanwhile my posts are for those who are conducting their own due diligence. You are not one off them and never was.
Nobody should read your posts here... all misinformation and misleading info posted with official link like what you write is the truth...
You can go to jail for that.
You should probably read a few of my posts to understand what Shawn Leon has in store if he ever gets around to it. 😆 I'll get back to you soon and we can discuss how much is left of your $3000 buy.
Shawn Leon is delinquent in his filing now. First time that I know of. This trash may finally be headed for the bin. There must be some very bad news in the annual. Can't wait to see it. 😃
O no o no o no no no no no...
28,000,000 at the bid now 😀
But in the meanwhile, we already know what an idiot you are.
Bye-bye
Just like $OMID... the stock you bought 😁
Difference is, we do know GRST will fill by Friday... $OMID seems to be a total limited info stock 🤣
UH OH! Ethema Health is now pink limited - Delinquent SEC Reporting. This could go on for a while because there won't be good news in that filing. It is beginning to look like that regulation "A" offering will fail even with the split.
https://www.otcmarkets.com/stock/GRST/overview
This stock is more locked up than one might think.
A lot of the daily trade action in the 3’s is between MM’s and not retail, they are simply keeping the stock flowing/liquid.
I say this because I literally had an open order for 10M shares placed on Feb 6th 2024 and it finally filled today after week upon week of partial fills.
Looking forward to seeing all that Mr. Leon has in store for us in these next 12 months :D
Good Luck to ALL
All IMO of Course.
Raport will be out on Friday. 👍🏼
Wow, only six million shares on the bid at $0.0003. Looks like Shawn Leon's game of wait and borrow has run its course. That regulation "A" offering is a year and a half old now and I doubt the split will serve them up much at this point. Most are on to their game. Normally people would be buying for the latest press release declaring the best year for the company EVER! While it fails to attract much interest at $0.0003. 🤣 No annual? Are they finally BK?
A sample of Shawn Leon's press releases below. Q2 2023 was "...ARIA’s highest quarterly profit to date..." yet while the revenue number increased by 37.7% the bottom line operating income decreased by 37.9 percent YOY. That operating income for the quarter was only $32K which is but a pittance for this very expensive business model. Is Shawn Leon's fictional tale of success for years finally been laid bare? Where is that annual?
Ethema Executes Two Real Estate Transactions and Major Debt Repayment
July 17, 2023 09:34 ET
https://www.globenewswire.com/en/news-release/2023/07/17/2705721/0/en/Ethema-Executes-Two-Real-Estate-Transactions-and-Major-Debt-Repayment.html
The Company further reports that its ARIA subsidiary’s extremely strong results in April and May continued in June and overall revenue for the ARIA subsidiary will be approximately $1,450,000 for the quarter, which will result in ARIA’s highest quarterly profit to date. The second quarter results will be released before August 14, 2023.
For the quarterly period ended June 30, 2023
https://www.otcmarkets.com/filing/html?id=16878947&guid=kvN-kHadOtVaJth
Revenues
Revenues were $1,565,959 and $1,138,032 for the three months ended June 30, 2023 and 2022, respectively, an increase of $427,927 or 37.6%.
Operating Expenses
Operating expenses were $1,533,813 and $1,086,270 for the three months ended June 30, 2023 and 2022, respectively, an increase of $447,543 or 41.2%.
Operating income
Operating income was $32,146 and $51,762 for the three months ended June 30, 2023 and 2022, respectively, a decrease of $19,616 or 37.9%.
Yes, 15 days was Monday. It should be a fun read when Shawn ever gets around to it.
So today we should expect some news? It’s 15 days after the extension?
Strong buy!
https://stockinvest.us/stock/GRST
I hope so...thats our local news! So many fentanyl deaths among teenagers and adults, here in Florida. Two teenage girls at school took fentanyl, one made it home and one died in school bathroom. Fentanyl is just one drug, you got meth and that dangerous because they will go on killing spree if they get angry. Grst is very much needed maybe government will step in and help
I wonder if that could turn out as public funding to help GRT to expand?
GRST. Great time to buy
Wish all my shares were bought at today's prices. For the trolls I would not tell anyone to risk their life savings here. But .0004 is a fair risk for a functioning company in a business that sadly (meant for the people who are addicts or lost souls who haunt OTC stock message boards) has room for growth.
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