Ethema Health Corp (GRST)

[Bubae]

You do realize that March before that CEO quote they posted that they would be paying the variable rate LABRYS notes through the payment schedule listed in the press release. None of those payments were made despite heavy borrowing that quarter. That debt ended up in the expensive June Leonite note which itself was variable rate with price protections that allowed it to reset to the price of any subsequent debt conversions. LOL

How about some year over year growth from that period. Q1 2022 and Q1 2023 net earnings are nearly identical despite another year of boasting about growth. Maybe we can check on the same Q2 numbers soon with an eye on net earnings and the statement of cash flows.

The Company growth is real and the elimination of variable rate debt is real.

Ethema Continues to Reduce Debt
March 01, 2022 10:19 ET
https://www.globenewswire.com/en/news-release/2022/03/01/2394545/0/en/Ethema-Continues-to-Reduce-Debt.html

The amendment which also altered the Maturity Date to May 31, 2022 calls for the balance to be paid in the following amounts on the following dates; $100,000.00 on March 31, 2022, $150,000.00 on April 30, 2022 and $136,000.00 on May 31, 2022.

A similar amendment was made to the Labrys $230,000.00 note dated June 2, 2021 such that there will be no conversions under the note as long as the note is repaid in two equal payments of $127,650.00 on May 31, 2022 and June 30, 2022. The maturity date of the note was amended to June 30, 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
[color=red]Revenue up 21%[/color]
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