The two entities GreeneStone Clinic Muskoka Inc and Addiction Recovery Institute of America, LLC (“ARIA”), do not have assets or share structures of their own that I know of. Cranberry Cove Holdings, Ltd that holds the Canadian Property and American Treatment Holdings, Inc (ATHI), the treatment center, do have share structures which are largely held by debt holders as secured equity. This CEO has taken ownership of the GreeneStone Clinic Muskoka and Addiction Recovery Institute of America, LLC (“ARIA”) entities and may be shielding these by agreement from potential proceedings expected in the future in my opinion. At this point I'm thinking that 2023 is the year for bankruptcy reorganization. The CEO certainly owes shareholders more of an explanation that the vague and deceptive comments in the last press release.
The investors who take the least risk are paid first. For example, secured creditors take less risk because the credit that they extend is usually backed by collateral, such as a mortgage or other assets of the company. They know they will get paid first if the company declares bankruptcy.
...In most instances, the company's plan of reorganization will cancel the existing equity shares...
...The obligations of the Borrower under this Note are secured pursuant to the terms of the security and pledge agreement (The "Security and Pledge Agreement" and collectively the Purchase Agreement, the "Related Documents"...