Ethema Health Corp (GRST)

[Bubae]

Many tried to call a bottom for this during the January and February 2020 price decline to .0001. It is very instructive to look back at the false narrative based on that letter of intent at the time starting around post #1000.

The year started with 155 million outstanding shares and saw an additional 1.3 billion new shares dumped in less than 8 weeks. All along the way posters kept referring to the letter of intent a the time with the glowing numbers. The price dropped to .0001 and stayed there for four months before the new story gained some traction.

The story was new and fresh after the previous ARIA treatment center at 5400 East Avenue, West Palm Beach closed at the end of January 2020. They had just gone through the debt restructuring and the projected numbers for the letter of intent were impressive. So there was much to speculate about at the time even though the letter of intent, like all others, didn't develop into anything. Now the real numbers on the real story are in for the new ARIA location and the debt related to previus failures has, and will continue to convert.


Ethema to Focus on Acquisitions for Growth Strategy
December 24, 2019 10:01 ET | Source: Ethema Health Corporation
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.




Ethema Working on Acquisition Financing and Debt Reduction for 1st Quarter
January 16, 2020 15:31 ET | Source: Ethema Health Corporation
https://www.globenewswire.com/news-release/2020/01/16/1971711/0/en/Ethema-Working-on-Acquisition-Financing-and-Debt-Reduction-for-1st-Quarter.html

Ethema Health Corporation (“Ethema” “GRST” or the “Company”), a provider of healthcare services, previously announced an LOI for the acquisition of a majority interest in an addiction treatment company. Efforts are underway to secure financing for the acquisition.

Efforts are underway to secure financing for the acquisition. Ethema is working with funders the Company is familiar with, having dealt with many over the last several years. There is a high level of interest in the quality of the acquisition and the Company expects to know which group they will be working with by the end of January 2020.

The Company has agreed to vacate its existing West Palm Beach property by January 31, 2020.

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.

“There is a complete restructuring underway which we expect to stabilize the Company and get it prepared to take on new initiatives in the addiction treatment business



Ethema Releases Third Quarter Results
November 22, 2021 19:08 ET | Source: Ethema Health Corporation

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%."