Who knows what the real value is and matters little since they won't be selling it in my opinion. The $10 million was the max in the lease agreement and would amount to a very high valuation per current earnings. They have the property held by Cranberry Cove so leveraged that Ethema (GRST) net ownership would be negligible. When you distill out the actual ownership of ARIA shares it also appears that the company owns very little. Once you account for the debt they are in a huge hole. Now the story is so weak that it isn't selling shares. What to do, what to do...
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.
14. Mortgage loans Within the next twelve months $ 3,874,157
Cranberry Cove Holdings, Ltd.
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.
The man confused Book value (on the book) and market value (assumed value). I bet he will find one of his ridiculous explanation (may be an HISTORIC value) looking at the past as usual.
News 
Market Data 
Discover 
AI
