Some may have been rightfully spooked by the unusual correspondence. I found it odd that the company sent out emails to existing shareholders restating previous historical information through an Orwellian lens. Looks like it could be a plea to shareholders to continue to hold the stock through an impending reverse split to support the regulation "A" offering. They are creating an email list to hold their hands through direct correspondence in the future. A one on one disinformation campaign if you will.
They have failed treatment centers at two previous locations and the current one limps along with constant cash flow supplements from Ethema Health (GRST) who claims 75% ownership of American Treatment Holdings, Inc, a US registered company (75% owned). Once you take out the percent that is secured debt by options for direct ownership of the treatment center shares and the 25% owned by the original seller they actually own relatively little.
Though this business model has shown itself to be a dismal failure they claim that the offering will be to support growth and acquisition of the same treatment center business interests? No mention in that entire writeup about the more than $4 million in defaulted series "N" notes or the roughly $3.8 million owed to the Leons themselves. Italia77 Thursday, October 05, 2023 4:49:10 AM Post# 48936 of 48947 https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172963130 $GRST today I received an email as a shareholder:
September 26, 2023...
The Company is also about to embark on a capital raising campaign which will attempt to raise $5,000,000 in new equity. The Company will deploy this capital to expand or acquire new addiction treatment center properties.
I wanted to update you on all the exciting news about various Company developments and to encourage you to keep up with future developments by registering for our regular email updates and news.
18. Commitments and contingencies a. Options granted to purchase shares in ATHI
On July 12, 2020, the Company entered into a five year option agreement with Leonite Capital LLC (“Leonite”) and other investors (collectively the “Transferees”). The Company agreed to sell to Leonite a portion of the total outstanding shares of ATHI from the shares of ATHI held by the company. The Company provided Leonite an option to purchase 4,000,000 shares of ATHI from the Company for a purchase consideration of $0.0001 per share (a total consideration of $400), based on the advances that Leonite made to the Company totaling $396,000. Leonite shall share in all distributions by ATHI to the Company, on an as exercised basis, equal to the advances made by Leonite to the Company, thereafter the option will be reduced to 50% of the shares exercisable under the option.
On September 14, 2020, the Company entered into a five year option agreement with Ed Blasiak (“Blasiak”) whereby the Company agreed to sell to Blasiak a portion of the total outstanding shares of ATHI. The Company provided Blasiak an option to purchase 571,428 shares of ATHI from the Company for a purchase consideration of $0.0001 per share (a total consideration of $57), based on the advances that Blasiak made to the Company totaling $50,000. Blasiak shall share in all distributions by ATHI to the Company, on an as exercised basis, equal to the advances made by Blasiak to the Company, thereafter the option will be reduced to 50% of the shares exercisable under the option.
On October 29, 2020, the Company entered into a five year option agreement with First Fire whereby the Company agreed to sell to First Fire a portion of the total outstanding shares of ATHI. The Company provided First Fire an option to purchase 1,428,571 shares of ATHI from the Company for a purchase consideration of $0.0001 per share (a total consideration of $143), based on the advances that First Fire made to the Company totaling $120,000. First Fire shall share in all distributions by ATHI to the Company, on an as exercised basis, equal to the advances made by First Fire to the Company, thereafter the option will be reduced to 50% of the shares exercisable under the option.
On October 29, 2020, the Company entered into a five year option agreement entered into with Bauman, so that the Company agreed to sell to Bauman a portion of the total outstanding shares of ATHI. The Company provided Bauman an option to purchase 1,428,571 shares of ATHI from the Company for a purchase consideration of $0.0001 per share (a total consideration of $143), based on the advances that Bauman made to the Company totaling $120,000. Bauman shall share in all distributions by ATHI to the Company, on an as exercised basis, equal to the advances made by Bauman to the Company, thereafter the option will be reduced to 50% of the shares exercisable under the option.
Sound big but it's only a less than $3,000 worth of shares dumped. Someone obviously decided to take his loss and he may either endup being happy he did ... or not. That's life when one BETS on a sub-sub-sub penny stock.
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