Ethema Health Corp (GRST)

[Bubae]

Leonite has been the company's primary financier since the beginning. They have gotten caught sideways on their debt arrangements with this company before when they had to accept the Delray Beach properties for debt settlement in October 2019. It looks like they are there again since they aren't able to convert the debt.

Leonite hasn't converted for cash or extended any more financing for over a year now. Other toxic lenders appear to have steered clear as well which has forced the company to seek out the expensive Receivables Funding lenders. It appears that they simply take out the new loans to make payments on the older Receivables Funding notes. I'm sure that Leonite, the parasite, doesn't want to kill the host. In this case months of inaction by the company may lead to their own demise. Particularly in a very tight capital market and OTC traders who typically have the sense to run from a regulation "A" offering.

For the fiscal year ended: December 31, 2019
https://www.otcmarkets.com/filing/html?id=14268515&guid=OhT-kHI_yPDaJth

11. Short-term Convertible Notes (continued)

Leonite Capital, LLC (continued)

On October 10, 2019, the Company transferred a warranty deed to the real property located at 810 Andrews Avenue, Delray Beach, Florida to Leonite Capital, LLC, in settlement of indebtedness of $1,398,514 and additional expenses related to the disposal of the property of $36,470. These expenses of $36,470 were provided for resulting in net proceeds recognized on the transfer of the property of $1,362,044.