Ethema Health Corp (GRST)

[Bubae]

Revenue doesn't mean much for this company. $2600 net operating income for the treatment center for the first 6 months of the year. Nice cash flow from the leased Canadian property relatively speaking. The $3.9 million mortgage for this property matured in July and as of the Q2 filing it has not been refinanced. With this balance sheet, the $700K that Leonite holds against Cranberry Cove which holds the property, and notes in default, it may be tough to get refinanced. We know the purchase price offered in the lease renewal in February was $7 million Canadian or roughly $5.4 million U.S. That doesn't leave much meat on the bone if they could find a buyer.


For the quarterly period ended June 30, 2022
https://sec.report/Document/0001903596-22-000529/

Cranberry Cove Holdings, Ltd.

On July 19, 2017, CCH, a wholly owned subsidiary, closed on a loan agreement in the principal amount of CDN$5,500,000. The loan is secured by a first mortgage on the premises owned by CCH located at 3571 Muskoka Road 169, Bala, Ontario. The loan bears interest at the fixed rate of 4.2% with a 5-year primary term and a 25-year amortization...

The loan matured on July 19, 2022, and is currently being renegotiated with the lender, no new terms have been presented to the Company as yet.


For the quarterly period ended March 31, 2022
https://sec.report/Document/0001903596-22-000301/

20. Commitments and contingencies (continued)
b. Mortgage loans

The company has a mortgage loan as disclosed in note 12 above. The mortgage loan matures on July 19, 2022 and the Company currently owes $3,890,306.


For the fiscal year ended: December 31, 2021
https://sec.report/Document/0001903596-22-000192/

Muskoka Treatment Facility

The Muskoka Treatment Facility is located in Bala, Ontario, 3571 Highway 169. The property is 43 acres and contains approximately 48,000 square feet of buildings. The property is wholly owned by CCH and has been leased to CART for an initial term of five years, which ended on February 28, 2022. The tenant exercised its option to extend the lease term for an additional five years. The lease gives the tenant an option to extend for two additional five (5) year terms, an option to purchase the property at any time for a purchase price of CDN$7,000,000 in the first thirty six (36) months...


For the quarterly period ended June 30, 2022
https://sec.report/Document/0001903596-22-000529/