Wednesday, July 05, 2023 6:15:04 PM
The history of press releases is littered with exaggerated statements related to revenue. Q2 2022 boasted a 117% increase over the first quarter of 2022. They loved the EBITDA number back then. So 117% increase for the quarter Q2 2022 over Q1 2022 and then the Q1 2023 has a net earnings number that is essentially the same as Q1 2022. What happened to that 117% increase?
This is what they do each and every quarter. The press release history link is below. Who benefits from the ...will set new highs for profitability... after the deals are done. What is the holdup with the Leonite negotiations? Did Leonite take a better look at the business? Leonite answers to their own investors.
Globenewswire Press Release History
https://www.globenewswire.com/en/search/organization/Ethema%2520Health%2520Corporation?page=1&pageSize=10
Ethema Reports Updates and Extends Forbearance
June 08, 2023 13:50 ET
https://www.globenewswire.com/en/news-release/2023/06/08/2685133/0/en/Ethema-Reports-Updates-and-Extends-Forbearance.html
The Company further reports that its ARIA subsidiary achieved extremely strong results in April and May with over 1 million in revenue for the two months. The company expects this revenue rate to continue for June. If revenue continues as projected, the second quarter will set new highs for profitability.
Ethema Reports Second Quarter Results
August 15, 2022 15:00 ET
https://www.globenewswire.com/en/news-release/2022/08/15/2498474/0/en/Ethema-Reports-Second-Quarter-Results.html
The Company’s ARIA subsidiary continued its growth and had a $404,700.00 EBITDA for the second quarter which was a 117% increase over the first quarter of 2022.
For the quarterly period ended March 31, 2023
https://www.otcmarkets.com/filing/html?id=16673787&guid=-HT-kenyprHRB3h
For the quarterly period ended March 31, 2022
https://www.otcmarkets.com/filing/html?id=15821144&guid=-HT-kenyprHRB3h
Q1 2022 - Q1 2023 comparison
Revenue up 21%
Rent expense up 21%
General Administrative up 13%
Salaries and wages up 26%
Professional Fees up 55%
Operating income essentially unchanged Q1 2023 = $75,026 -- Q1 2022 = $74,940
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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