Replies to post #49561 on Ethema Health Corp (GRST)

[Bubae]

It isn't about the bed counts. When they had as many as a reported 174 beds it was a disaster. That large facility closed in January 2020 and is responsible for the debt that exists today and that which has been converted into the nearly 4 billion outstand shares. This is an expensive business model that has had it day in my opinion. Two closed treatment centers and the current one that stays afloat with Ethema Health (GRST) borrowing. Again the current treatment center has its own identity, its own share structure largely owned by others.

As for the expectations mentionned (500 beds, NY stock exchange, ...) let's prove we can walk before promissing we will run.

Ethema Expands into 174-Bed Florida Facility
June 07, 2018 09:27 ET
https://www.globenewswire.com/en/news-release/2018/06/07/1518496/0/en/Ethema-Expands-into-174-Bed-Florida-Facility.html

Mr. Shawn Leon, president and CEO of the Company, said, "It has taken us longer than we anticipated to be able to move forward with this jewel of a property, but we are now well underway with our licensing to be able to offer a full continuum of care to our clients in one location.

The potential is significant enough that it will support the previously announced intention of up-listing the Company to a more senior exchange and completing a sponsored underwriting in conjunction with the up-listing.

This Property will be the catalyst to growth and prosperity for many years to come and we look forward to establishing ourselves as leaders in the treatment industry.”



Ethema Working on Acquisition Financing and Debt Reduction for 1st Quarter
January 16, 2020 15:31 ET
https://www.globenewswire.com/en/news-release/2020/01/16/1971711/0/en/Ethema-Working-on-Acquisition-Financing-and-Debt-Reduction-for-1st-Quarter.html

The Company has agreed to vacate its existing West Palm Beach property by January 31, 2020. The Company is continuing to negotiate with a local Florida operation to be able to move its operations but has not yet reached any agreements.

The termination of the operation in West Palm Beach will dramatically reduce the negative cash flow of the Company and allow it to focus on cleaning up the debt on the balance sheet as it works towards completing the acquisition.