Ethema Health Corp (GRST)

[Bubae]

Addiction Recovery Institute of America, LLC (“ARIA”) is a registered company but wasn't the name of the treatment center. The actual treatment center name is Evernia Health Center owned by American Treatment Holdings Inc( ATHI). Ethema claims to own 75% of the shares of ATHI but the bulk of that is actually tied up in options for secured debt. Why the CEO is splitting ARIA from Ethema Health as the personal owner is a mystery that I believe can be answered by access to the "Security and Pledge Agreement" that was supposed to be attached as exhibit "C" of the June Leonite 8K. The last press release announced a forbearance agreement with Leonite Capital that extends the due date to May 8th. This means that they can go nearly the full 9 months of the year to the Q2 filing in August before revealing what is really happening. Keeping shareholders in the dark as long as possible is very typical of how this company operates.

For the fiscal year ended: December 31, 2022
https://www.otcmarkets.com/filing/html?id=16535244&guid=BpA-knO0tQI-B3h

Corporate Structure
The Company consists of the following entities:
Ethema Health Corporation (Parent company);

Ethema is the publicly traded investment holding company, registered in Colorado, U.S.

American Treatment Holdings, Inc, a US registered company (75% owned);

ATHI owns 100% of the members interest of Evernia.

Evernia Health Center, a US registered company;

Evernia operates a treatment center in West Palm Beach Florida and is a wholly owned subsidiary of ATHI which was acquired by Ethema effective July 1, 2021. The Company has been actively involved in the operation of this treatment center since June 30, 2020.


2023 FLORIDA LIMITED LIABILITY COMPANY ANNUAL REPORT
http://search.sunbiz.org/Inquiry/CorporationSearch/GetDocument?aggregateId=flal-l19000024560-99d564d1-3e44-49e8-af31-9f96fc6fd7ba&transactionId=l19000024560-b305f00c-b1a5-4c32-bd2b-af7f021f8da2&formatType=PDF


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

Leonite Fund I, LP

Effective June 1, 2022, The Company entered into a Note Exchange Agreement whereby

..., were exchanged for a new Senior Secured Convertible Promissory note in the principal amount of $745,375,... .

...The Note matures on March 1, 2023, and bears interest at the minimum of 10% per annum or the Wall Street Journal quoted prime rate plus 5.75%.

The convertible note is secured by all of the assets of Ethema Health Corporation and Addiction Recovery Institute of America, LLC.

June Leonite Note 8K
https://sec.report/Document/0001903596-22-000464/

...The obligations of the Borrower under this Note are secured pursuant to the terms of the security and pledge agreement (The "Security and Pledge Agreement" and collectively the Purchase Agreement, the "Related Documents"...