Though my investment money is substantially used up for now, I am not moving anywhere on this one. I will hold for a number of years for my price. Thanks for all the work.
Same costly story for years and it appears that ARIA has never made anyone much money. The PR links that traders have been chasing for years and the story has gotten much less ambitious as the debt grew.
“This property adds to the property the Company acquired in Delray Beach, Florida earlier this year where the Company has moved its principal office and where it operates a licensed treatment facility with 32 beds of community housing.” “Ethema Health Corporation (OTCQB: GRST) operates in the behavioral healthcare space specifically in the treatment of substance use disorders. Ethema developed a unique style of treatment over the last six years and has had much success with in-patient treatment for adults.”
“Mr. Shawn Leon, president and CEO of the Company, said, "It has taken us longer than we anticipated to be able to move forward with this jewel of a property, but we are now well underway with our licensing to be able to offer a full continuum of care to our clients in one location. This has been our U.S. expansion goal for several years and after exploring dozens of expansion opportunities, this is by far the best opportunity that we have seen to date.”
Ethema to Focus on Acquisitions for Growth Strategy December 24, 2019 10:01 ET | Source: Ethema Health Corporation https://www.globenewswire.com/en/news-release/2019/12/24/1964449/0/en/Ethema-to-Focus-on-Acquisitions-for-Growth-Strategy.html “…a provider of healthcare services, has announced that it has signed a non-binding Letter of Intent to acquire a majority interest in an addiction treatment company. The acquisition target will have approximately $20 million in revenue for 2019 and an EBITDA of $3.6 Million. Under the terms of the LOI the Company would be required to enter into a binding agreement by February 29, 2020 and be closed by April 30, 2020. The purchase price will be determined during the due diligence process and is subject to agreement by both parties.”
“The Company has experienced sustained losses during the development of its business in Florida and is securing new financing that will allow it to stabilize earnings by buying a profitable business with positive cash flow. The Company will raise new capital to make the acquisition and to pay down some current debt. The Company has sold two of its properties in Delray Beach, Florida in 2019, reducing debt significantly and may pursue a sale of its Canadian property to eliminate any remaining debt. The Company expects some of the new capital to be debt secured by the cash flow of the acquisition and some of the additional new equity to be raised directly as equity in the acquisition. Both of these financing methods will be less dilutive on existing shareholders.”
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