That is an excellent example of Shawn misinformation. technically a couple of million in defaulted debt was settled but it was rolled into the lease deal along with $1 million in associated fees and the cost of purchasing the property in order to leverage it. Chart below compares the Q2 lease obligation with that of Q3. The triple net lease leaves the landlord responsible for practically nothing other than to calculate additional expenses and collect the monthly rent. Looks like the treatment center will be paying a minimum of $24K a month for their lease, the rest essentially represents the debt financed in this deal. Ethema Health (GRST) already must borrow every quarter and they just lost the cash flow from the Canadian property for debt. That is where the regulation "A" offering come in from what I see. This offering looks like it will serve as a line of credit to service the new obligations.
Offering Period and Expiration Date This Offering will start on or after the Qualification Date and will terminate at our discretion or, on the Termination Date.
This real estate deal has eliminated a lot of debt, including all variable rate convertible debt and the Company is now free to focus on growth."