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Tuesday, August 01, 2023 9:16:16 AM
For years he was always promoting a new acquisition with the most recent with a deposit and closing date shot down in the last press release. The situation is bad enough that he now claims that they have no plans for another attempt.
Every quarter the CEO talked about the treatment center property, how valuable it is because of 'development of a new University of Florida campus on the same block', about how much they have already invested in the development of the treatment center. In the end they ended up with an extended lease and what appears to be a $5.5 million lease deal for $3 million cash to pay some of the toxic debt earning default interest, penalties, fees. Did they hand over the $400K deposit as part of this deal that was squirreled away from those very expensive short term loans?
Debt retirement is always a press release talking point. Shawn Leon went so far to say in July 2022 'steadily increasing cash flow and should generate enough to repay the note in full prior to maturity.” ' Of course we know how that played out.
Regulation "A" offering which isn't good news existing shareholders promoted every quarter for nearly a year. Without a reverse split, forget about it.
What does he have after the last highly anticipated press release failed? What does he have to promote now? I'm not sure a one of two tick flip will work now though I have faith in those who will chase a press release no matter what.
Ethema Executes Two Real Estate Transactions and Major Debt Repayment
July 17, 2023 09:34 ET
https://www.globenewswire.com/en/news-release/2023/07/17/2705721/0/en/Ethema-Executes-Two-Real-Estate-Transactions-and-Major-Debt-Repayment.html
The previous announced LOI for the purchase of an acquisition in South Carolina was terminated due to an inability to extend it any further without a commitment of funds to close. Until such time as the Company has the resources and cash on hand to consummate such an acquisition, it will defer entering into any further LOI.
Ethema Signs Contract to Purchase Property
July 26, 2022 13:05 ET
https://www.globenewswire.com/en/news-release/2022/07/26/2486269/0/en/Ethema-Signs-Contract-to-Purchase-Property.html
Mr. Shawn Leon, Company CEO, reported, “We have worked hard to secure a manageable agreement to purchase the property.
We have made significant investments in the renovation of the property and those expenditures will now be amortized over a longer term.
Company Signs Purchase and Sale Agreement to Acquire Property and Ends Third Quarter Strong
October 05, 2022 13:07 ET
https://www.globenewswire.com/en/news-release/2022/10/05/2528993/0/en/Company-Signs-Purchase-and-Sale-Agreement-to-Acquire-Property-and-Ends-Third-Quarter-Strong.html
On October 3, 2022, Ethema signed a purchase and sale agreement (“Agreement”) to purchase the building and paid a $350,000.00 deposit as part of the Agreement, bringing the total deposit to $400,000 after getting credit for the $50,000.00 option payment.
Ethema Files 8K on Debt Restructure
July 22, 2022 15:09 ET
https://www.globenewswire.com/en/news-release/2022/07/22/2484639/0/en/Ethema-Files-8K-on-Debt-Restructure.html
The Company’s ARIA subsidiary is steadily increasing cash flow and should generate enough to repay the note in full prior to maturity.”
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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