Ethema Health Corp (GRST)

[Bubae]

I forgot what happened between 2017 and 2019? It is the time frame for which most of the current debt was accumulated through the previous failed ARIA facility which closed in January 2020.

They sold the treatment center in Canada and retained the property in 2017. They brought those funds to Florida and in a relatively short period racked up an accumulated deficit of over $45 million by the end of 2019. That debt after the closure of the ARIA facility at 5400 East Avenue, West Palm Beach. That debt was restructured and is detailed in the 31 documents of the December 2020 8K. That debt is what has run the share count up and continues to be a serious problem.

...You forgot what happenned between 2017 and 2019...

December 2020 debt restructuring 8K
https://sec.report/Document/0001721868-20-000600/

2019 annual 10K filing
https://sec.report/Document/0001721868-20-000304/

Operating loss
The operating loss was $4,199,735 and $2,884,317 for the years ended December 31, 2019 and 2018, respectively, an increase of $1,315,418 or 45.6%. The increase is attributable to the decreased revenues and the movements in operating expenses discussed above.

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.

Going Concern
...As described in Note 3 to the consolidated financial statements, the Company had accumulated deficit of approximately $45.5 million and negative working capital of approximately $18.3 million at December 31, 2019, which raises substantial doubt about its ability to continue as a going concern...