Ethema Health Corp (GRST)

[Wake Setter]

GRST Update and 10Q GREAT NEWS

Revenue increase almost 1000% yoy
$89,829 to $866,432 per quarter

74% increase of assets
$3,822,466 to $6,656,080


" The facility became profitable in the seventh month of operation and has been profitable every month since. "

The Company has also made the decision to move forward with the purchase of the property at 950 Evernia Street, West Palm Beach, Florida. The purchase will be an off-balance sheet structure whereby the Company will be the General Partner in a limited partnership which will use debt and equity from Limited partners as the structure to own the property.

This will eliminate the need to raise equity in Ethema directly and as the General Partner, Ethema will still benefit from the ownership of the property. Ethema also plans to implement the same structure for its Canadian property which will also improve the Balance sheet. The U.S. limited partnership will be raising $1,500,000 in equity and the Canadian limited partnership will be raising CDN$1,500,000 in equity.


GRST already owns the property in Canada and is now looking to complete the purchase of the property their new ARIA facility is located on in Florida. This mention of a new partnership could be interesting to learn more about.


Press Release November 22, 2021

https://www.globenewswire.com/news-release/2021/11/23/2339427/0/en/Ethema-Releases-Third-Quarter-Results.html

SEC 10Q quarter 3

https://www.sec.gov/ix?doc=/Archives/edgar/data/792935/000172186821000835/f2sgrst10q111721.htm