Replies to post #44152 on Ethema Health Corp (GRST)

[Bubae]

That has been the pattern. this year. They like to throw out a juicy EBITDA number like it means something and they do manage to get 100 million share trading days. Every run this year didn't get far and quickly returned to the previous low trading level.

It took a 400 million share day on March 1st after the Sunday evening tweet that they were coming with multiple press releases. 200 million shares traded the first half hour and the price died just above .001 where Leonite dumped 150 million shares to partially convert a note. It didn't take but a couple of weeks or so for the price to sell off to the new 52 week low. There is 177K left on that Leonite note per the Q1 filing updating the outstanding balance.

Another note mentioned in the March 1st "Ethema Continues to Reduce Debt" press release converts at .001. They were specific about the amounts and payment schedule for the Labrys fund notes that later defaulter. But conveniently they failed to mention the amount owed in the Leonite "forbearance agreement". This note was more of a line of credit for as much as $440K. We haven't heard anything about this note since but it converts at .001.

The 150K Joshua Bauman note is eligible to convert on October 21st. That is right, it converts at .001.

for·bear·ance
/fôr'ber?ns,f?r'ber?ns/
noun
patient self-control; restraint and tolerance.
"forbearance from taking action"

Joshua Bauman

On October 21, 2021, the Company entered into a Securities Purchase Agreement with Joshua Bauman (“Bauman”), pursuant to which the Company issued a senior secured convertible promissory note in the aggregate principal amount of $150,000, including an original issue discount of $16,250. The note bears interest at 11.0% per annum, which is guaranteed and earned in full on issue date and matures on October 21, 2022. The note may be prepaid at certain prepayment penalties and is convertible into shares of common stock at a conversion price at the option of the holder at $0.001 per share, adjusted for anti-dilution provisions.


On July 12, 2020, the Company entered into a Senior Secured Convertible Note agreement with Leonite for $440,000 with an original issue discount of $40,000 for gross proceeds of $400,000, the initial tranche advanced will be for cash of $200,000 plus the OID of $20,000, the remaining advances will be at the discretion of the Leonite. The loan bears interest at 6.5% per annum and matures on June 12, 2021. The Company is required to make monthly payments of the accrued interest on the advances made.


Ethema Continues to Reduce Debt
March 01, 2022 10:19 ET | Source: Ethema Health Corporation
https://www.globenewswire.com/en/news-release/2022/03/01/2394545/0/en/Ethema-Continues-to-Reduce-Debt.html

...The Company entered into a forbearance agreement with Leonite Capital Inc. (“Leonite”) for their note dated July 12, 2020 which limits certain collection activities for payment defaults until June 28, 2022. The current conversion price being employed on the note is $.001 per share...