Yes, I have seen the nearly $4 million mortgage before. They need to quit fooling around and get the LABRYS fund debt converted in my opinion and 100 million shares here and there isn't going to get it done. Especially soinc ethey are still adding debt to pay the bills.
It doesn't even look like they have done anything to convert the $780K in two financing notes and they have 7 payments left on another LABRYS note maturing at the end of the month totaling $215,600 which converts at twice the face value. We aren't even talking about the other debt holders in line for conversions which is why I'm amazed to not have seen another biannual refinance deal.
7 payments appear to still be left on the LABRYS note maturing on November 30th. 3 payments were made and noted in the May 7th LABRYS financing deal.
"On April 30, 2021 the Company was given notice of three payments of 30,800 due on April 30, 2021 under the note entered into on November 24, 2020 in the aggregate principal amount of $275,000 were going to be converted into common shares of the Company and 100,000,000 restricted shares were issued. The Company still has seven more payments of 30,800 due under the note."
https://sec.report/Document/0001721868-21-000524/ On November 30, 2020, the Company, entered into a Securities Purchase Agreement with Labrys, pursuant to which the Company issued a Convertible Promissory Note in the aggregate principal amount of $275,000 for net proceeds of $239,050 after an original issue discount of $27,500 and certain legal expenses. The Note has a maturity date of November 30, 2021 and bears interest at the rate of twelve percent per annum from the date on which the Note was issued until the same became due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company has the right to prepay the Note in terms of agreement. The outstanding principal amount of the Note was convertible at any time and from time to time at the election of Labrys during the period beginning on the date that is 180 days following the issue date into shares of the Company’s common stock at a conversion price equal to 60% of the lowest closing bid price of the Company’s common stock for the thirty trading days prior to conversion.
Quote: Ethema Health @HealthEthema · Sep 30 Last few days Labrys Fund exercised 2 warrants for restricted shares of 92M which are restricted until Nov and Dec and 60M unrestricted for conversion of debt. $GRST
"On May 7, 2021, the Company, entered into a Securities Purchase Agreement with Labrys, pursuant to which the Company issued a Convertible Promissory Note in the aggregate principal amount of $550,000 for net proceeds of $477,700 after an original issue discount of $55,000 and certain legal expenses of $17,300. The Note has a maturity date of May 7, 2022 and bears interest at the rate of eleven percent per annum from the date on which the Note was issued until the same became due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company has the right to prepay the Note in terms of agreement. The outstanding principal amount of the Note was convertible at any time and from time to time at the election of Labrys during the period beginning on the date that is 180 days following the issue date into shares of the Company’s common stock at a conversion price equal to $0.005, subject to anti-dilution adjustments."
"On June 2, 2021, the Company, entered into a Securities Purchase Agreement with Labrys, pursuant to which the Company issued a Convertible Promissory Note in the aggregate principal amount of $230,000 for net proceeds of $200,000 after an original issue discount of $23,000 and certain legal expenses of $7,000. The Note has a maturity date of June 2, 2022 and bears interest at the rate of eleven percent per annum from the date on which the Note was issued until the same became due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company has the right to prepay the Note in terms of agreement. The outstanding principal amount of the Note was convertible at any time and from time to time at the election of Labrys during the period beginning on the date that is 180 days following the issue date into shares of the Company’s common stock at a conversion price equal to $0.004, subject to anti-dilution adjustments."
anti-dilution adjustment based on par value for conversion is .01
1.1 Conversion Right. The holder on any calendar day, at any time on or following the issue date, to convert all or any portion of the then outstanding and unpaid Principle Amount and interest (including any Default Interest) into fully paid and non-assessable shares of Common Stock.
1.2 Conversion Price
(a) Calculation of Conversion Price The per share conversion price into which Principle Amount and interest (including any Default Interest) under this Note shall be convertible into Common Stock hereunder (the “Conversion Price”) shall equal $0.005. If at any time the Conversion Price as determined hereunder for any conversion would be less than par value of the common stock, then at the sole discretion of the Holder, the conversion price hereunder may equal such par value for such conversion and the Conversion Amount for such conversion may be increased to include Additional Principle, where “Additional Principle” means such additional amount to be added to the conversion amount to the extent necessary to cause the number of conversion shares issuable upon such conversion to equal the same number of conversion shares as would have been issued had the Conversion Price not been adjusted by the Holder to the par value price.
That is what it looks like. Always a point to remember her is that Ethema (GRST) is a self described "investment holding company" The deals that have been made are many and complex to the point that it is very difficult to understand what the company owns and does not own. What they clearly own is the debt and expenses.
Take the mortgage for example. Leonite was awarded $700K in class "A" preferred shares in Cranberry Cove Holdings in the debt restructuring deal last year. So like ARIA, these entities have their own share structure. Ethema (GRST) is actually making very little money so who pays the 10% dividend on the $700K per year. If this company is ever liquidated the debt holders will be walking away with all of it after fleecing shareholders to get it financed in the first place.
On July 19, 2017, CCH, a wholly owned subsidiary, closed on a loan agreement in the principal amount of CDN$5,500,000. The loan is secured by a first mortgage on the premises owned by CCH located at 3571 Muskoka Road 169, Bala, Ontario. The loan bears interest at the fixed rate of 4.2% with a 5-year primary term and a 25-year amortization. The Company has guaranteed the loan and the Company’s chief executive officer and controlling shareholder also has personally guaranteed the Loan. CCH and the Company have granted the Lender a general security interest in its assets to secure repayment of the Loan. The loan is amortized with monthly installments of CDN $29,531.
On July 12, 2020, the company entered into a debt extinguishment agreement with Leonite whereby the following occurred:
1. The total amount outstanding under the note, including principal and interest was reduced to $150,000
2. $700,000 of the note was converted into Series A Redeemable Preferred shares in the Company’s subsidiary, Cranberry Cove Holdings, accruing dividends at 10% per annum.
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