Ethema Health Corp (GRST)

[Bubae]

Ok 🙄 So the Leons convert debt to common at a price of $0.0012 and the new trading price rises to $0.0013 and remains there after an announcement of a 2500:1 reverse split and the post split dilution needed to raise cash from the offering. Yeah, that isn't is the realm of possibility right? That over the rainbow scenario of debt reduction does nothing for the real problem and that is the debt that is consuming cash flow to the extent that borrowing is required every quarter to cover it. The debt owed to the Leons doesn't effect cash flow because they are paying nothing on it.

The company has taken on $1.2 million in bridge loans, $300K for the acquisition, $450K on the very expensive revolving credit line, so roughly $2 million in the past couple of months to buy this new narrative that isn't getting retail excited. They need a good narrative to attract subscribers for those regulation "A" shares because those shares will be dumped on retail traders. I see no reverse split until they get the story right. They have a lot riding on that offering and the continuation of desperate measures should be expected.


Bubae
Re: None
Tuesday, June 11, 2024 8:40:21 PM
Post# 50025 of 50163
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174583740

Took another look at that Mirage Realty note. I can't find the actual note filed but it doesn't look to be a convertible note. Explains why they keep pushing the maturity out a month at a time. Make you wonder how they intend to pay it and why another 30 days matters. The new maturity date according to the chart on page 17 is June 15th. The accrued amount due as of March 31st is $259,514. They needed to draw $450K from the very expensive credit line in May so they are spending like drunken sailors on leave while they have notes that have matured. The balance on the Bauman note as of March 31st was $124,769 and can convert at any time.