Ethema Health Corp (GRST)

[Bubae]

Well they do not own the property, right? They did a desperate purchase, sale, leaseback refinance deal on the property to cover the defaulted debt which needed Shawn Leon's personal guarantee based on his financial statement. The property they owned and their best performing asset in the Canadian property was handed over to to Leonite for debt. They actually can claim to own very little in the form of percent ownership of the treatment center. This is why the July 2023 press release mentions "...a new focus on an “asset light” business model." Can't wait to see the next filing to see how much more debt they have packed on screwing around trying to get this regulation "A" offering off the ground. 🙄


Ethema Executes Two Real Estate Transactions and Major Debt Repayment
July 17, 2023 09:34
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 Company will emerge from this transaction with a greatly streamlined cap table, an improved balance sheet, and a new focus on an “asset light” business model.