Don't even get me started about the very costly mistakes this CEO has made moving ARIA around. The $3 million in forfeited deposits from the failed purchase deal for the previous West Palm Beach location can not be over stated. That $3 million is easily more than $6 million in toxic share conversions and warrants etc. That is what is being paid for here.
Traders probably don't realize that this story is so old that it has changed significantly in only a year. From 174 beds to 40...etc, etc... They have sold a lot of shares off this story and when they still don't own a treatment center and still have a debt problem.
On November 2, 2017, the Company entered into an agreement to purchase from AREP 5400 East Avenue LLC certain buildings in West Palm Beach, Florida, totaling approximately 80,000 square feet, on which the Company planned to operate a substance abuse treatment center. The purchase price of the Property was $20,530,000. The Company made a series of nonrefundable down payments totaling $2,940,546 in 2017 and 2018. The Company could not get the necessary financing to close on the deal.
November 2020 ARIA treatment facility; Covid Clear; the Rise of Ethema Health Corp (OTCMKTS: GRST)
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