Ethema Health Corp (GRST)

[Bubae]

Yes I do. Look how hard they have been pumping this to get the offering off the ground. Few are taking the bait. This would have been bankrupt this time last year had the Leons not signed onto the personal guaranty to back the crazy Property, purchase, sale, leaseback scheme to roll that $2.3 million in mostly defaulted debt into a more than $9 million operating lease. It will take more than $9 million to pay that off today and more than $19 million for the full 20 year term. That is some smart business there friend. 😆 Now look at the result in the Q1 filing where the rent expense increased by 131% over Q2 2022 and that is for the first year of the lease agreement. That number goes up every year. The operating loss is up over 400% year over year while the revenue was flat. The short term new debt from Q1 is detailed in post# 50341. It isn't often even with these stinky pinks that you see a company kicking the can down the road with a credit line with a 60% interest rate.



Bubae
Re: None
Tuesday, July 02, 2024 9:04:04 PM
Post# 50341 of 50918
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174697005



For the quarterly period ended March 31, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000792935/000190359624000371/grst_10q.htm

Revenues
Revenues were $1,300,100 and $1,300,046 for the three months ended March 31, 2024 and 2023, respectively, an increase of $54 or 0%.

Operating Expenses
Operating expenses were $1,529,175 and $1,225,020 for the three months ended March 31, 2024 and 2023, respectively, an increase of $304,155 or 24.2%. The increase is primarily due to the following:

Abbreviated list

Rent expense was $265,132 and $114,564 for the three months ended March 31, 2024 and 2023, respectively, an increase of $150,568 or 131.4%.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,...

Salaries and wages were $727,741 and $592,036 for the three months ended March 31, 2024 and 2023, respectively, an increase of $135,678 or 22.9%. The increase is due the increase in staff headcount during the current year.

Operating loss (income)
The operating loss was $(229,074) and operating income was $75,026 for the three months ended March 31, 2024 and 2023, respectively, an increase in loss of $304,100 or 405.3%.

Net loss
Net loss was $374,203 and $175,717 for the three months ended March 31, 2024 and 2023, respectively, an increase of $198,486 or 113.0%