Thursday, June 30, 2022 6:27:05 PM
Ethema Posts Strong Revenue Guidance for Second Quarter
June 30, 2022 12:07 ET | Source: Ethema Health Corporation
https://www.globenewswire.com/news-release/2022/06/30/2472430/0/en/Ethema-Posts-Strong-Revenue-Guidance-for-Second-Quarter.html
The Company also reports that it is in the process of formalizing extensions on its debts, some of which were coming due on June 30. The Company is experiencing strong cash flow and expects to be able to begin debt repayments in the third quarter from cash flow. The final terms will be announced as soon as the documentation on extensions is complete.
For the quarterly period ended March 31, 2022
https://sec.report/Document/0001903596-22-000301/
Auctus Fund, LLC
During March 2022, the Company paid $20,000 of principal on the convertible note, thereby reducing the principal outstanding to $80,000. The note matured May 7, 2020, Auctus Fund LLC has not declared a default and we are in constant discussion with the lender on settling the note.
Effective December 29, 2021, the Company entered into a modification of the convertible note agreement with Labrys whereby the May 7, 2021 note were amended as follows:
Labrys Fund, LP
>The Maturity date of the note was extended to May 31, 2022.
· >The triggering of the dilutive event on October 25, 2021 which reduced the conversion price of the convertible note to $0.001 per share, will not be utilized as long as any events of default under the note are not triggered.
· The Company agreed to make monthly payments under the note totaling $536,000 between January 10, and May 31, 2022.
Effective December 29, 2021, the Company entered into a modification of the convertible note agreement with Labrys whereby the May 7, 2021 note were amended as follows:
· >The Maturity date of the note was extended to June 30, 2022.
· The Company agreed to make two equal payments of $127,650 on the note on May 31, and June 30, 2022.
Leonite Capital, LLC
Secured Promissory Notes
On March 1, 2022, the Company entered into a secured Promissory Note in the aggregate principal amount of $124,000 for net proceeds of $100,000 after an original issue discount of $24,000. The Note had a maturity date of April 1, 2022. and no default has been declared. We are in discussions with Leonite on the repayment of this note and the advancement of additional funds for business purposes.
21. Subsequent events
On May 3, 2022, the Company, entered into a secured Promissory Note in the aggregate principal amount of $76,250 for net proceeds of $61,000 after an original issue discount of $15,250. The Note had a maturity date of June 17, 2022 and bears interest at the rate of zero percent per annum from the date on which the Note was issued until the same became due and payable.
Ethema Continues to Reduce Debt
March 01, 2022 10:19 ET | Source: Ethema Health Corporation
https://www.globenewswire.com/news-release/2022/03/01/2394545/0/en/Ethema-Continues-to-Reduce-Debt.html
The Company has made four payments due on the $95,200.00 Geneva Roth Remark Holdings Inc. note dated September 30, 2021 including the latest payment on February 15, 2022 in the amount of $11,424.00.
The Company entered into a forbearance agreement with Leonite Capital Inc. (“Leonite”) for their note dated July 12, 2020 which limits certain collection activities for payment defaults until June 28, 2022. The current conversion price being employed on the note is $.001 per share.
December 2020 debt restructuring 8K
https://sec.report/Document/0001721868-20-000600/
Leonite Capital LLC
On July 12, 2020, the company entered into a debt extinguishment agreement with Leonite whereby the following occurred:
...On July 12, 2020, the Company entered into a Senior Secured Convertible Note agreement with Leonite for $440,000 with an original issue discount of $40,000 for gross proceeds of $400,000, the initial tranche advanced will be for cash of $200,000 plus the OID of $20,000, the remaining advances will be at the discretion of the Leonite...
...or after a six month period from the effective date at 60% of the lowest trading price during the preceding 21 consecutive trading days...
Everything that I post is just my informed opinion and is simply an invitation to debate. Trade on your own due diligence please..
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