Replies to post #47156 on Ethema Health Corp (GRST)

[Bubae]

Seriously want to post bed counts? Still quoting the CEO after what I have posted this weekend with the press release history. Well here is another about bed counts. There have been many press releases about bed counts with just a few below.

FAQ page July 2021 states that the capacity for the facility is 54 beds. Statement ' ...to be completed by September so that these extra beds should reflect in the fourth quarter numbers'

Lets skip over press releases about bed count and go to March 2022 nearly a year later. Shawn Leon Reports ...“The possibility of getting to 68 beds so soon after opening is empowering.

June 2022 They claim 'The third quarter will therefore have an availability of 62 beds for the full quarter.'

The only SEC filing that mentions be counts is the regulation "A" offering circular. The 1-A POS filing dated May 4th 2023 States that '...Addiction Recovery Institute of America, a 41-bed addiction treatment facility located in West Palm Beach, Florida...' That's right, 41 beds.

At one time I searched and posted about the ridiculous number of times that the company talked about building out that first floor and shuffling things around. The July 2021 FAQ page started it claiming that it would be completed by September that year. Stated the same in the very many press release along the way up to the May 2023 Regulation "A" offering circular where they say it again. Seriously, who believes what this CEO says?


1-A POS filing May 4th 2023
https://www.otcmarkets.com/filing/html?id=16623154&guid=h0T-k6f3Z33aJth

Summary

We operate the Addiction Recovery Institute of America, a 41-bed addiction treatment facility located in West Palm Beach, Florida. This facility is a three-story building with unfinished commercial space on the first floor and two floors of mixed commercial and residential space where clients are treated and sleep. The first-floor space is being completed at which time it will allow the center to expand to 52 beds by moving existing treatment space from the 2nd floor to the 1st Floor.


Company Signs Purchase and Sale Agreement to Acquire Property and Ends Third Quarter Strong
October 05, 2022 13:07 ET
https://www.globenewswire.com/en/news-release/2022/10/05/2528993/0/en/Company-Signs-Purchase-and-Sale-Agreement-to-Acquire-Property-and-Ends-Third-Quarter-Strong.html

On September 30, 2022 the Company’s ARIA subsidiary obtained occupancy of its newly built first floor space and is now in the process of moving offices and staff out of space on the second and third floors, making room to add additional beds on the upper floors. These beds will come on stream early this month. The first-floor space will also provide additional capacity for outpatient services. This is the last step required to reach the full capacity of the property.



Ethema Posts Strong Revenue Guidance for Second Quarter
June 30, 2022 12:07 ET
https://www.globenewswire.com/en/news-release/2022/06/30/2472430/0/en/Ethema-Posts-Strong-Revenue-Guidance-for-Second-Quarter.html

The expected addition of an additional 4 beds has been delayed due to the delays in completion of the first-floor commercial office space renovation. This renovation is complete and an occupancy permit is expected to be issued in the first week of July. The third quarter will therefore have an availability of 62 beds for the full quarter.



Ethema's ARIA Treatment Center Adds More Beds
March 03, 2022 09:10 ET
https://www.globenewswire.com/en/news-release/2022/03/03/2396414/0/en/Ethema-s-ARIA-Treatment-Center-Adds-More-Beds.html

is actively expanding its bed count. With the imminent addition of the ARIA treatment center first-floor treatment space and staff offices,

Mr. Shawn Leon, Company CEO, reported, “The possibility of getting to 68 beds so soon after opening is empowering.

The first-floor space is nearing completion and is now at the paint and finish stage. 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.


Ethema Health FAQ Page Released July 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 has added an FAQ section to its website https://t.co/L97AvfEQy0 and has established a forum for frequently asked shareholder questions. $GRST

— Ethema Health (@HealthEthema) July 27, 2021