Ethema Health Corp (GRST)

[Bubae]

Some of the new debt below. They have a $250K six month note that matured March 15th and another for $150K that was convertible starting in February. Of course having a convertible note with this share current structure is hopeless. Where does Shawn Leon expect to get all this cash from? He should be at the end of the line after personally guaranteeing the crazy leaseback scheme. This stock is a disaster for existing shareholders in my opinion.

That regulation "A" offering should have been done a year and half ago and won't go far to pay the new bills. Where is Shawn's quarterly promotional press release? I guess it would be in bad taste to roll out another BS promo press release just before flushing this with the split. Don't let the two notes concern anyone, all recent notes have gone into default. he just pays the premium with a new refinance scheme and kicks the can down the road. That road must be coming to an end very soon. See that automatic conversion feature with anti-dilution language dated August 9th? That automatic feature is unusual and might give you an idea of the time frame for the reverse split because you sure as he77 wouldn't want it to happen before. 😆


For the quarterly period ended September 30, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000792935/000190359623000912/grst_10q.htm

8. Short-term Convertible Notes (continued)
Joshua Bauman

On August 9, 2023, the Company issued a convertible promissory note to Bauman, in the aggregate principal amount of $150,000. The note bears interest at 10.0% per annum and matures on August 9, 2024. The note is convertible into shares of common stock at a conversion price at the option of the holder at $0.001 per share, adjusted for anti-dilution provisions. The note is convertible into common stock at the option of the holder after the expiration of six months from the issuance date, in addition, should the note reach its maturity date, August 9, 2024, the note will automatically convert into shares of common stock at the conversion price, subject to anti-dilution provisions.

9. Subsequent events

On November 15, 2023, the Company, entered into a senior secured Promissory Note in the aggregate principal amount of $250,000 for net proceeds of $223,500 after an original issue discount and fees of $26,500. The note earns interest at 10% per annum and matures on March 15, 2024.