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Friday, May 17, 2024 2:12:51 AM
Shawn Leon has packed on so much new debt since the refinance deal that the regulation "A" offering will only help them limp along a bit longer. He will be lucky to raise a couple of million off of it after the split. He has committed all the assets of Ethema Health which is really nothing at this point and that of ATHI the holding company for the treatment center to secure the $1 million credit line. How did he manage to do that when Ethema Health can only claim 75% of the treatment center ownership and the bulk of that is held in options to secure debt. What is he telling these other stake holders?
For the fiscal year ended: December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000792935/000190359624000279/grst_10k.htm
Page 5
Revenue
Revenue was $5,344,976 and $4,820,747 for the years ended December 31, 2023 and 2022, respectively, an increase of $524,229 or 10.9%.
Operating Expenses
Operating expenses was $5,886,896 and $4,331,630 for the years ended December 31, 2023 and 2022, respectively, an increase of $1,555,266 or 35.9%. The increase in operating expenses is attributable to:
- Rent expense was $614,793 and $427,482 for the years ended December 31, 2023 and 2022 an increase of $187,311 or 43.8%. The increase is primarily due to an increase in rental which arose on the acquisition of the building from our landlord and the immediate disposal of the building to a third party on August 4, 2023,...
Operating (loss) profit
The operating (loss) profit was $(541,920) and $489,117 for the years ended December 31, 2023 and 2022, respectively, an increase in loss of $1,031,037 or 210.8%. The increase in loss is due to the increase in operating expenses of $1,555,266, discussed in detail above,...
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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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