Replies to post #47857 on Ethema Health Corp (GRST)

[Bubae]

What is amusing is that no one is promoting the last press release. Any better indication that Shawn Leon has lost credibility with shareholders? Don't you believe the $3 million in profit out of thin air? Look at Shawn Leon's statement, He was pumping it hard and got zero appreciation in share price. Think maybe they had some new shares queued up that couldn't get into the game?

...binding purchase and sale agreement to sell and leaseback...

Ethema Executes Two Real Estate Transactions and Major Debt Repayment
https://www.globenewswire.com/en/news-release/2023/07/17/2705721/0/en/Ethema-Executes-Two-Real-Estate-Transactions-and-Major-Debt-Repayment.html

First, the Company is pleased to announce that is has signed a binding purchase and sale agreement to sell and leaseback the property located at 950 Evernia Street, West Palm Beach for $8,500,000 contemporaneously with the purchase of the property for $5,500,000. The Company will simultaneously enter into a twenty-year lease on the Property. The agreement became legally binding on July 13, 2023, and it is expected to conclude on or before August 3, 2023. The three million dollar spread is profit to the Company before expenses.


Mr. Shawn Leon, Company CEO, reported, “Our focus on reducing debt has paid off in spades with this combination of transactions. If there was any doubt about our ability to get out from under our debt and succeed, that doubt has certainly been squashed with these developments. We created three million of cash without issuing debt or equity and improved our balance sheet by $8.7 million. These are stellar results for a company that has been trading at market-cap below $2 million. Our balance sheet is cleaner, healthier and stronger. This is a great foundation upon which to continue to grow the Company and is fantastic progress for Ethema.” Mr. Leon further added, “I have been questioned often about what our plans are to consolidate the stock and I can report that there are no near term plans to do so. I can only see that happening in conjunction with an up-listing when that time comes, and I believe it will come, based on our much stronger financial position, fantastic opportunities, and our vast experience in the addiction treatment industry.”