Ethema Health Corp (GRST)

[Bubae]

The company doesn't BS people??? Try to reconcile the bed count statements from the past year. The bed narrative from the latest filing which is the only filing that mentions bed counts and states that the treatment center has 41 beds currently. That would be one less than the FAQ page indicated in July 2021. Looks to me like the reverse split is on the way IF they can get the offering certified.

- GRST is managed by a successful executive who doesn’t try to BS people,

PRELIMINARY OFFERING CIRCULAR DATED SEPTEMBER 8, 2022,
https://sec.report/Document/0001903596-22-000650/
Summary
...We operate the Addiction Recovery Institute of America, a 41-bed addiction treatment facility located in West Palm Beach, Florida. This facility is a three-story building with unfinished commercial space on the first floor and two floors of mixed commercial and residential space where clients are treated and sleep. The first-floor space is being completed at which time it will allow the center to expand to 52 beds by moving existing treatment space from the 2nd floor to the 1st Floor.


FAQ Page July 27th 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/en/news-release/2022/03/03/2396414/0/en/Ethema-s-ARIA-Treatment-Center-Adds-More-Beds.html

Mr. Shawn Leon, Company CEO, reported, “The possibility of getting to 68 beds so soon after opening is empowering. With all of the build out at the West Palm Beach location soon to be completed and behind us, we can turn our attention to the constant pursuit of increasing the quality of our service and achieving our ultimate goal of saving and improving more lives.”


Company Signs Purchase and Sale Agreement to Acquire Property and Ends Third Quarter Strong
October 05, 2022 13:07 ET | Source: Ethema Health Corporation
https://www.globenewswire.com/en/news-release/2022/10/05/2528993/0/en/Company-Signs-Purchase-and-Sale-Agreement-to-Acquire-Property-and-Ends-Third-Quarter-Strong.html

On September 30, 2022 the Company’s ARIA subsidiary obtained occupancy of its newly built first floor space and is now in the process of moving offices and staff out of space on the second and third floors, making room to add additional beds on the upper floors. These beds will come on stream early this month. The first-floor space will also provide additional capacity for outpatient services. This is the last step required to reach the full capacity of the property.