Ethema Health Corp (GRST)

[Bubae]

So why would they now suddenly be communicating with shareholders? Why the Orwellian rewrite of their history which is misinformation in the same vein as their promotional press releases? Maybe to soften the punch of what is to come?

A good example of how they work can be seen in the December 2019 press release. Big announcement for a acquisition with numbers they could not possibly afford. One month following the December press release they closed their only operating treatment center. Less than eight weeks into 2020 they dumped 1.3 billion new shares in debt conversions only raising roughly $500K. The real story of moving to a much smaller facility is in there and it took a year and a half from the the letter of intent that was never publicly announced for the 950 Evernia address to close the deal in mid 2021. This is a technically bankrupt company in my opinion. So broken that they can't even get a regulation "A" offering off the ground after over a year of announcing one.

Ethema to Focus on Acquisitions for Growth Strategy
December 24, 2019 10:01 ET
https://www.globenewswire.com/en/news-release/2019/12/24/1964449/0/en/Ethema-to-Focus-on-Acquisitions-for-Growth-Strategy.html

The acquisition target will have approximately $20 million in revenue for 2019 and an EBITDA of $3.6 Million.

We are very excited that we now have an opportunity to jump start our growth with this platform,” said Shawn Leon, CEO of the Company.

The Company has not generated the client levels necessary to fill the current location and must make changes to reduce its operating costs. With the acquisition, the Company will have an opportunity to produce tremendous cost savings.

The Company expects to relocate its principle office into the same space as the acquisition target head office and will likely relocate its operation in West Palm Beach into a smaller facility nearby. The Company is negotiating with another provider to lease a smaller site in West Palm Beach.

We have worked hard and invested a lot into the development of the business in Florida but it is now time to make these changes...
...said Shawn Leon, CEO of the Company.