Ethema Health Corp (GRST)

[Bubae]

The also do not own the original property that the original Evernia treatment center sits on. The Leons guaranteed the crazy property purchase, sale, leaseback deal to refinance the defaulted debt at that time. Shawn Leon proposed to do the same for the Kentucky Edgewater properties buy instead set himself up with that property deal. Ever see a stinky pink is such straights that they are not able to leverage their stock to raise capital. This has been going on for several years now with defaulted debt wrapped up in endless refinance deal only to acquire more debt going into default. How does Shawn Leon deal with the current defaulted debt. I have said before, Shawn Leon is a professional defaulted debt cultivator. He loves paying the ridiculous defaulted debt penalties, He can't stop himself.


Bubae
Re: pual post# 51295
Saturday, October 12, 2024 7:39:34 AM
Post# 51299 of 52303 
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175219655&txt2find=lease%20back

Ethema Health was bankrupt and done in 2023 Paul. I was absolutely correct that the business was bankrupt. The Leons had to personally guarantee the the crazy property purchase, sale, leaseback deal of August 2023 to bail it out. They refinanced that $2.3 million in mostly defaulted debt into a lease liability of more than $9 million, more than $19 million over the 20 year term. Leonite held a note that refinanced defaulted debt the previous year secured by all assets of ATHI the holding company for the treatment centers and Ethema Health which finally forced their hand. Now Shawn Leon has so badly fumbled the regulation "A" offering and taken out a couple of more million in debt in 2024 that he claims to be trying another property purchase, sale, leaseback deal with the Edgewater properties. Think the Leons have enough on their personal ledger to underwrite another disaster? 😆

For the quarterly period ended September 30, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000792935/000190359624000678/grst_10q.htm

Page 31
Over the next twelve months we estimate that we will require approximately $3.5 million for working capital and to repay existing short-term notes as the business continues to develop its rehab business in the US market. We have convertible notes, short term loans and promissory notes which will mature or have already matured during the current year and may have to raise equity or secure debt.