Thursday, December 01, 2022 7:28:31 PM
So the $350K was borrowed likely in Q2 with the short term and very expensive loans which of course also helps the EBITDA number. A big helper will also be the default event on March 1st for the $745K Leonite note defaults with a default interest of 24% calculated back to day one per the note agreement. They have all kinds of good stuff going on to grow the interest expense to support the anticipated EBITDA increases promoted in the last press release. They will grow all the components of the EBITDA except the most important component "Net Income".
Mr. Shawn Leon, Company CEO, reported... We expect to substantially grow the EBITDA in 2023 as growth will become our sole objective after repaying the debt.”... After repaying the debt?!? LOL They will struggle to convert that offering to pay off just the single June Leonite note that will be worth nearly $1 million with expenses when it defaults in 3 months.
For the quarterly period ended September 30, 2022
https://www.otcmarkets.com/filing/html?id=16200583&guid=GxG-kKwX597-B3h
22. Subsequent events
Subsequent to September 30, 2022, the Company re-negotiated the deposit payable for the acquisition of the Evernia building , in which the treatment center is housed from $1,500,000 to $350,000 which was paid on October 3, 2022. The expected closing is expected to be February 1, 2023. The Seller will provide financing of $4,000,000 at a coupon of 6.36% per annum, with interest only payments of $21,217 per month.
or the quarterly period ended June 30, 2022
https://sec.report/Document/0001903596-22-000529/
22. Subsequent events
On July 18, 2022, the Company, through its subsidiary Evernia, entered into an option and Memorandum of Understanding Purchase, Sale and Financing Agreement, with the Evernia landlord, Evernia Station Limited Partnership (“Seller”), whereby the Company paid $50,000 for the option to acquire the building on September 30, 2022 for $5,500,000, with a deposit of $1,500,000 due on September 30, 2022, the $50,000 option price to be applied to the deposit. The expected closing is expected to be February 1, 2023. The current rental of $27,783 was reduced to $20,206 on payment of the option price of $50,000. The Seller will provide financing of $4,000,000 at a coupon of 6.36% per annum, with interest only payments of $21,217 per month. The term of the seller funding will be one year, due and payable on January 31, 2024.
EBITDA = Net Income + Taxes + Interest Expense + Depreciation & Amortization
For the quarterly period ended March 31, 2022
https://sec.report/Document/0001903596-22-000301/
Interest expense $ 80,768
For the quarterly period ended June 30, 2022
https://sec.report/Document/0001903596-22-000529/
Interest expense $122,848
For the quarterly period ended September 30, 2022
https://www.otcmarkets.com/filing/html?id=16200583&guid=wEG-knVR-IG9dth
Interest expense $163,561
Ethema Posts Strong 3rd Quarter Results and SEC Qualifies the Regulation A Form 1A Filing
November 29, 2022 08:00 ET | Source: Ethema Health Corporation
https://www.globenewswire.com/en/news-release/2022/11/29/2563968/0/en/Ethema-Posts-Strong-3rd-Quarter-Results-and-SEC-Qualifies-the-Regulation-A-Form-1A-Filing.html
The Company’s ARIA subsidiary continued its growth and had a $712,839.00 EBITDA for the first nine months of the year. The Company’s wholly owned subsidiary, PB Billing LLC, which started operating in May 2022, had an EBITDA of $34,579.00 for the first 9 months of the year. Companywide EBITDA for the first nine months of the year was $898,920.00.
Mr. Shawn Leon, Company CEO, reported, “We had set a goal at the beginning of the year for our ARIA subsidiary to produce an EBITDA of $1,000,000 for calendar 2022. It looks like we are on track to make that goal and are very proud of our many associates and team members for helping us get there.
...We expect to substantially grow the EBITDA in 2023 as growth will become our sole objective after repaying the debt.”
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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