Ethema Health Corp (GRST)

[Bubae]

The company didn't gloat about revenue in the Q3 press release because it is such a dubious number for this business model. I'm thinking that traders were expecting much more than a EBITDA number of only $47,359 for the quarter. Especially given the glowing press release for this latest iteration of the treatment center back in 2019. Now this story is two years old and not near what it was when it was operating out of a 174 bed facility. That isn't manipulation, those are supported facts.

It has been two years now since the letter of intent for this latest iteration of the treatment center. So long that they have moved out of the 174 bed facility and essentially started over bringing along the debt from the past failures. That debt has been converting at an accelerated rate the past couple of quarters and the conversions in the pipeline ensures that it will continue. They need a new story and a fresh share structure because the present situation is running on empty. A reverse split will help get this going again in my opinion.

The Q1 following this letter of intent saw debt holders drop 1.3 billion new shares on traders dropping the price to .0001 where it stayed for four months.


Q3 PR link
https://www.globenewswire.com/news-release/2021/11/23/2339427/0/en/Ethema-Releases-Third-Quarter-Results.html

"The segmented information for the ARIA treatment center was an EBITDA of $47,359 for the quarter. Revenue is recorded based on the adjusted gross billing for the period. The facility has been averaging a net collection of gross billings at a rate of approximately 13%."


Ethema to Focus on Acquisitions for Growth Strategy

https://www.globenewswire.com/news-release/2019/12/24/1964449/0/en/Ethema-to-Focus-on-Acquisitions-for-Growth-Strategy.html

West Palm Beach, FL, Dec. 24, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Ethema Health Corporation (OTCQB: GRST) (“Ethema” “GRST” or the “Company”), a provider of healthcare services, has announced that it has signed a non-binding Letter of Intent to acquire a majority interest in an addiction treatment company. The acquisition target will have approximately $20 million in revenue for 2019 and an EBITDA of $3.6 Million. Under the terms of the LOI the Company would be required to enter into a binding agreement by February 29, 2020 and be closed by April 30, 2020. The purchase price will be determined during the due diligence process and is subject to agreement by both parties.



Q1 2020 filing
https://sec.report/Document/0001721868-20-000426/

Authorized, issued and outstanding

The Company has authorized 10,000,000,000 shares with a par value of $0.01 per share. The company has issued and outstanding common shares of 1,577,862,975 and 155,483,897 as of March 31, 2020 and December 31, 2019, respectively.

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.

Ethema's Addiction Recovery Institute of America (ARIA) Receives Joint Commission's Accreditation

https://www.globenewswire.com/news-release/2019/02/20/1738367/0/en/Ethema-s-Addiction-Recovery-Institute-of-America-ARIA-Receives-Joint-Commission-s-Accreditation.html

February 20th 2019 GRST trading at .088

West Palm Beach, FL, Feb. 20, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Ethema Health Corporation (OTCQB: GRST) (“Ethema” “GRST” or the “Company”), a provider of healthcare services, today announced that Addiction Recovery Institute of America (ARIA), the Company’s 120-bed addiction treatment facility located in West Palm Beach, Florida, has earned The Joint Commission's Gold Seal of Approval for Behavioral Health Care Accreditation.