The company failed in 2023 in my opinion. Shawn Leon had to do the property purchase, sale, leaseback scheme to cover the $2.3 in mostly defaulted debt. Now they are financing not only the debt over 20 years but also the $5.5 million property price and the nearly $1 million in fees. That deal was personally guarnteed by both Shawn Leon, and his spouse Eileen Greene, by Ethema Health and ATHI, the holding company for the treatment centers.
Why they did that was because the Leons and the so called "friendly debt" were owed mote than $7 million that they put into this failed business model. Those people should be realizing losses but they will be converting to equity ownership of the company at some point as stated by Shawn Leon in the podcasts. What they need is to get the offering and subsequent offerings to the point where it can take care of some of the debt so these insiders could possible own something some day. Meanwhile you are sitting on losses you just don't know it yet. Bubae Re: None Monday, August 12, 2024 10:30:08 PM Post# 50912 of 51158 https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174909131 Their ability to continue borrow is running into problems as evidenced by the expensive short term loans taken in Q1. They managed to buy some time in 2023 with the crazy and expensive property purchase, sale, and leaseback scheme which put both Shawn Leon and his spouse Eileen Greene on the hook for a more than $9 million operating lease agreement. There are certain “personal guaranty metrics” under this lease that must be met to relieve them of this personal debt guaranty. Those are detailed below, the largest hurdle appears to be the $5 million of unrestricted cash.
News 
Market Data 
Discover 
AI
