I believe that they will get another run soon. The run that was manufactured for February 28th was after a 90 day quiet period. They have dropped two press releases since that 4 day share selling effort and affectively didn't say much of anything. They won't waste real news on retail profit taking and won't have it last long enough for traders to sort through what was really said.
They are saving whatever it is for another shares for debt effort in my opinion. The one for the 28th was 150 million shares at .01 for Leonite and retired some of the 12% short term debt indicated on the current short term debt chart. This wasn't part of the Labrys and Leonite debt mentioned in the March 3rd press release. Of that Leonite 12% interest note $173K still remains.
They have been playing this game with the bed count. Last July they indicated that they would add 2 and 10 more beds for a total of 54. Then in the March 10th press release they claimed to add 4 to the previous count of 42. So really they suggest 42 or 44 beds last July and now 46 beds for February so an increase of 2 or 4 in all that time. Now in the My 16th press release they claim that they will add 14 new beds by the end of May.
They need to keep this story going from press release to press release which is why the play around with the bed count and played the games with the Q4 2021 and Q1 2022 balance sheet reporting in my opinion. If you notice they never say how many beds they really have as a matter of current events. I would say that they have had more then they have been leading on which is why the revenue number has been increasing since Q3 2021 but they need a surprise number for a press release to generate some volume for selling more shares. Watch for a 58 or 60 final bed count for the current facility and call it surprising and amazing. The certificate of occupancy that was expected in March signals the completion of this leased facility and the numbers are as good as it gets for now in my opinion.
For the quarterly period ended March 31, 2022 https://sec.report/Document/0001903596-22-000301/ Leonite Capital, LLC (continued) ...On February 28, 2022, in terms of a conversion notice, Leonite converted the principal sum of $149,250 of the Leonite Note into 150,000,000 shares of common stock at a conversion price of $0.0010 per share....
FAQ page release July 27, 2021 https://ethema.wpengine.com/?page_id=683 What can the total bed count be? The ARIA lease includes approximately 4,000 square feet on the first floor of the building which is currently being built out for staff offices and treatment group rooms. This finished space will allow us to free up space on the second and third floor presently being used for offices and treatment and add 2 more detox beds, and 10 more partial hospitalization beds for a total of 54 beds. This is expected to be completed by September so that these extra beds should reflect in the fourth quarter numbers.
Ethema Releases Third Quarter Results November 22, 2021 19:08 ET | Source: Ethema Health Corporation https://www.globenewswire.com/news-release/2021/11/23/2339427/0/en/Ethema-Releases-Third-Quarter-Results.html The build out on the first floor is well underway and expected to be completed in December allowing the facility to increase the number of beds by 10. The facility was able to add 2 beds to the existing count of 42 in November. The total number of beds will be 54 when the first floor is completed.
ARIA was able to add 4 additional beds to the previous count of 42 in the month of February. ARIA expects to receive the certificate of occupancy in the month of March and this will make way for the addition of 10 more beds on the second and third floor for a total of 58 beds.
We are looking forward to seeing continued positive progress in quarter two with the implementation of the increased billing rates in April and the addition of fourteen new beds at the end of May.
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