Ethema Health Corp (GRST)

[Bubae]

It is about to get real in my opinion. Despite new receivables funding for the quarter of $190K they ended the quarter with $27.6K. No new receivables funding indicated in the subsequent events so how do they continue to make the payments on the receivables funding payments let alone the rest? That is $18.5K in payments per WEEK!! I'm thinking that the can kicking is bouncing aganst the wall at the end of the road by now. LOL Something has happened in Q2 and we will see soon I suspect. Stayed tuned!!


For the quarterly period ended March 31, 2023
https://www.otcmarkets.com/filing/html?id=16673787&guid=DCu-kaTrf7_TB3h

11. Receivables funding

September 26, 2022 Funding

On September 26, 2022, the Company, through its 75% held subsidiary, Evernia Health Center, LLC, entered into a Receivables Sale Agreement with Itria Ventures LLC (“Itria”), whereby $310,000 of the Receivables of Evernia were sold to Itria, for gross proceeds of $250,000. The Company also incurred fees of $5,500, resulting in net proceeds of $244,500. The Company is obliged to pay 7.41% of the receivables until the amount of $310,000 is paid in full, with periodic repayments of $6,458 per week. The guarantor of the funding is a minority shareholder in ATHI.

The Company made weekly cash payments of $6,458 totaling $167,917 on the September 26, 2022 funding. The balance outstanding at March 31, 2023 was $147,083, less unamortized discount of $30,949.


December 13, 2022 Funding

On December 13, 2022, the Company, through its 75% held subsidiary, Evernia Health Center, LLC entered into a Receivables Sale Agreement with Itria Ventures LLC (“Itria”), whereby $305,000 of the Receivables of Evernia were sold to Itria, for gross proceeds of $250,000. The Company also incurred fees of $2,500, resulting in net proceeds of $247,500. The Company is obliged to pay 6.08% of the receivables until the amount of $305,000 is paid in full, with periodic repayments of $6,354 per week. The guarantor of the funding is a minority shareholder in ATHI.


The Company made weekly cash payments of $6,354 totaling $88,958 on the December 13, 2022 funding. The balance outstanding at March 31, 2023 was $211,042, less unamortized discount of $40,228.


January 19, 2023 Funding

On January 19, 2023, the Company received funding from an agreement entered into on December 14, 2022 through its 75% held subsidiary, Evernia Health Center, LLC entered into a Receivables Sale Agreement with Bizfund.com (“Bizfund)”), whereby $132,000 of the Receivables of Evernia were sold to Bizfund, for gross proceeds of $100,000. The Company is obliged to pay 15.0% of the receivables until the amount of $132,000 is paid in full, with periodic repayments of $2,750 per week. The guarantor of the funding is a minority shareholder in ATHI.

The Company made weekly cash payments of $2,750 totaling $24,750 on the January 19, 2023 funding. The balance outstanding at March 31, 2023 was $107,250, less unamortized discount of $26,536.


February 14, 2023 Funding

On February 14, 2023, the Company, through its 75% held subsidiary, Evernia Health Center, LLC entered into a Receivables Sale Agreement with Fox Business Funding (“Fox”), whereby $118,800 of the Receivables of Evernia were sold to Fox, for gross proceeds of $90,000. The Company is obliged to pay 8.0% of the receivables until the amount of $118,800 is paid in full, with periodic repayments of $2,970 per week. The guarantor of the funding is a minority shareholder in ATHI.

The Company made weekly cash payments of $2,970 totaling $17,820 on the February 14, 2023 funding. The balance outstanding at March 31, 2023 was $100,980, less unamortized discount of $25,183.