Ethema Health Corp (GRST)

[Bubae]

Projecting a doubling of revenue for 2023 from a built out facility with 41 beds? The regulation "A" circular is the only filing that mentions beds and though they have hyped growth. The narrative remains the same as 2021 and this story is 3 years old now.

Who will actually own the purported 75% ownership of the treatment center by the end of Q2? That owner ship was largely held by secured debt holders in the form of options even before the June Leonite note which is secures by "all of the assets of Ethema Health Corporation and Addiction Recovery Institute of America, LLC".

Revenues for 2023 will be 8 TIMES today's market cap!

Ethema Health FAQ Page
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.

Latest Reg. "A" filing
https://www.otcmarkets.com/filing/html?id=16623154&guid=0Qu-kpw7lR_cwch

Summary

Ethema Health Corporation aims to develop world class centers of excellence in addiction treatment for adults....

...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...


For the quarterly period ended June 30, 2022
https://www.otcmarkets.com/filing/html?id=16018411&guid=kOu-kKnUE8dfJth

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://www.otcmarkets.com/filing/html?id=15961451&guid=kOu-kKnUE8dfJth

...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"...