Thursday, June 30, 2022 7:32:24 PM
If you go back to the July 2021 FAQ page again they claim to be working on the same first floor renovation causing this delay. They have been talking about the first floor in many press releases. The first floor is only 4000 square feet since half of the first floor is a single lane drive through parking garage. Reference the google drive by for 950 Evernia street.
The reason that I mention this because I question every thing they say and how they couch their comments. Second, bed counts is how many here measure and promote the progress for this company rather that the balance sheet numbers.
Globenewswire Press release summary for Ethem Health
https://www.globenewswire.com/search/organization/Ethema%2520Health%2520Corporation
FAQ page release July 27, 2021
https://ethema.wpengine.com/?page_id=683
What can the total bed count be?
The ARIA lease includes approximately 4,000 square feet on the first floor of the building which is currently being built out for staff offices and treatment group rooms. This finished space will allow us to free up space on the second and third floor presently being used for offices and treatment and add 2 more detox beds, and 10 more partial hospitalization beds for a total of 54 beds. This is expected to be completed by September so that these extra beds should reflect in the fourth quarter numbers.
Ethema's ARIA Treatment Center Adds More Beds
March 03, 2022 09:10 ET | Source: Ethema Health Corporation
https://www.globenewswire.com/news-release/2022/03/03/2396414/0/en/Ethema-s-ARIA-Treatment-Center-Adds-More-Beds.html
...ARIA was able to add 4 additional beds to the previous count of 42 in the month of February...
ARIA expects to receive the certificate of occupancy in the month of March
Ethema Posts Positive Q1 Results
May 16, 2022 16:00 ET | Source: Ethema Health Corporation
https://www.globenewswire.com/news-release/2022/05/16/2444282/0/en/Ethema-Posts-Positive-Q1-Results.html
We are looking forward to seeing continued positive progress in quarter two with the implementation of the increased billing rates in April and the addition of fourteen new beds at the end of May.
...The expected addition of an additional 4 beds has been delayed due to the delays in completion of the first-floor commercial office space renovation. This renovation is complete and an occupancy permit is expected to be issued in the first week of July...
950 Evernia Street property card
https://www.pbcgov.org/papa/Asps/PropertyDetail/PropertyDetail.aspx?parcel=74434321010430050
950 Evernia Street google drive by
https://www.google.com/maps/place/950+Evernia+St,+West+Palm+Beach,+FL+33401/@26.711356,-80.0620764,3a,75y,101.16h,106.31t/data=!3m6!1e1!3m4!1s6RAKg3DRwssDvi2a7X1m_g!2e0!7i16384!8i8192!4m5!3m4!1s0x88d8d66689891069:0x9eb47c2ec2a516a3!8m2!3d26.7113012!4d-80.0617434
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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