Ethema Health Corp (GRST)

[Bubae]

The only property that they own is the Canadian property which is heavily mortgaged. The 5 year mortgage was due in July and they haven't yet refinanced per the Q3 filing. Leonite owns $700K in series "A" shares of Cranberry Cove which holds the property. 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. Sorry, nothing left there for the company to leverage.


For the quarterly period ended September 30, 2022
https://www.otcmarkets.com/filing/html?id=16200583&guid=wEG-knVR-IG9dth

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 Company has guaranteed the loan and the Company’s chief executive officer and controlling shareholder also has personally guaranteed the Loan. CCH and the Company have granted the Lender a general security interest in its assets to secure repayment of the Loan. The loan is amortized with monthly installments of CDN $29,531.

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 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...


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:

....2. $700,000 of the note was converted into Series A Redeemable Preferred shares in the Company’s subsidiary, Cranberry Cove Holdings, accruing dividends at 10% per annum....