The numbers aren't good. A lot of debt is waiting to convert with a $1 million coming in November alone. Over $2 million is in vested warrants that convert on a regular basis. Their liabilities actually increased the first 6 months of the year despite 600 million in new shares. They now own up to 75% or ARIA but have 30% promised away in options to note holders. That is the only real revenue potential to look forward to in Q3 and no one really knows how much net earnings will bubble up to Ethema (GRST). They just loaned ARIA a bit over 1.1 million, so there is no reason not to retain as much as possible within that operation.
Total liabilities $19,105,744 June 31, 2021 18,448,565 Dec 30, 2020 Total assets $4,193,033 Revenues were $96,158 three months ended June 30, 2021 Net loss was $(2,626,438) for the three months ended June 30, 2021
Outstanding warrants as of June 30, 2021 932,034,450
"All of the warrants outstanding at June 30, 2021 are vested. The warrants outstanding at June 30, 2021 have an intrinsic value of $2,219,035".
Gain on debt extinguishment
Gain on debt extinguishment was $0 and $12,683,678 for the three months ended June 30, 2021 and 2020, respectively. In the prior period, the Company entered into several debt extinguishment agreements with convertible debt holders whereby the amounts payable and the payment terms under these convertible notes were renegotiated, this also resulted in the extinguishment of derivative liabilities related to these convertible notes.
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