Real numbers from the last filing for a little context. Also consider that they borrow every quarter and are not making any payments on much of their debt which is now earning default interest of 24%, has had default penalties applied with a couple earning, what if referred to as, a $2000 monthly "monitoring" fee.
The $745K Leonite June note has been extended twice and today, June 8th, is the second date for the forbearance agreement. You can bet that Leonite is exercising their clause for default interest dating back to June 1st 2022 in those agreements. That would be one note now valued at over $1 million earning 24% interest that was exchanged for the $596K in Labrys debt. Note is secured by what is left of the company's assets that aren't already secured for debt.
Bottom line is that one can claim to be prosperous while living on their credit cards and not paying the minimum, but a some point you lose your house. The only path forward is to convince retail traders to to buy that debt because there really isn't much meat on the bone when it comes to equity from the assets. What will it take to convince retail traders to pour more money into this rabbit hole.
***Income statement (USD) Year on year Ethema Health Corp grew revenues 148.16% from 1.94m to 4.82m while net income improved from a loss of 1.54m to a gain of 247.88k.
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