No information on the property valuations? ARIA operates in a leased facility. The facts about the Canadian property is that it throws off the only cash flow this company has had at a bit under $100K a quarter. That facility has a lease agreement that can be extended every five years. Who knows what someone would actually pay for it and does Ethema really own 100% of it. They don't even own the 75% of ARIA that it claims because of note holder options.
Lets not conveniently forget that they are servicing over $19 million in current liabilities with less than 100K in revenue as of June 30th 2021.That is pretty sad.
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
Greenestone Muskoka Treatment Facility
The Greenestone Muskoka Treatment Facility is located in Bala, Ontario at 3571 Highway 169. The property is 43 acres in size and contains approximately 48,000 square feet of buildings. The property is owned by Ethema’s wholly owned Canadian subsidiary CCH and has been leased to the new owner of the Muskoka Clinic for a term of five years, which ends on February 28, 2022. The Lease gives the tenant an option to extend for three additional five (5) year terms, an option to purchase the property at any time for a purchase price of $7,000,000 in the first thirty six (36) months of the term and thereafter at a purchase price increased by $1,500,000 for each successive year up to a maximum of $10,000,000, and a right of first refusal in the event of a sale to a third party.
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