ETHEMA HEALTH CORPORATION - GRST STOCK NEWS

Ethema Health Corporation (OTCPINK: GRST) announced its annual report on March 31, 2023, revealing an operating income of $0.5 million for its Evernia subsidiary, slightly below its 2022 target. The company achieved a total operating profit of $0.6 million, despite a depreciation and amortization charge of $0.5 million. They successfully divested two non-core subsidiaries, resulting in a $0.6 million gain and a cleaner balance sheet. Ethema is finalizing an acquisition deal with a target company, with a closing date projected for July 1, 2023. The acquisition of real property for Evernia has been deferred to explore financing alternatives.

Ethema Health Corporation (OTCPINK: GRST) announced an extension to its note payment due on March 1, 2023, now due May 8, 2023. The company continues to pay interest on this note. Additionally, Ethema extended the closing on the real estate purchase at 950 Evernia Street to June 1, 2023, with potential fees reaching $70,000 for full extensions. The company is working on financing through a Reg A+ offering to fund an acquisition. They are also finalizing a lease location in Orlando for a new facility. Although the Aria facility may fall short of its $1,000,000 EBITDA goal for 2022, other subsidiaries remain on budget. The 10-K will reflect divestitures to clean up the balance sheet.

Ethema Health Corporation (OTCPINK: GRST) reported a companywide EBITDA of $898,920 for the first nine months of 2022. Its ARIA subsidiary achieved an EBITDA of $712,839, while PB Billing LLC contributed $34,579. The company has qualified for SEC form 1A, enabling it to raise new equity. Ethema is pursuing a potential acquisition valued at approximately $3.8 million and plans to acquire the property leased by its ARIA subsidiary by January 2023. CEO Shawn Leon expressed confidence in reaching an EBITDA goal of $1 million for the year.

Ethema Health Corporation (OTCPINK: GRST) has signed a purchase and sale agreement for a building at 950 Evernia Street, West Palm Beach, for its ARIA subsidiary. A total deposit of $400,000 has been made, with a closing date set for January 31, 2023. The company plans to finance the purchase with a Regulation A offering. Meanwhile, ARIA has completed its first-floor occupancy and is expanding bed capacity. CEO Shawn Leon reported a record revenue increase of approximately 25% in Q3, despite seasonal industry slowdowns. The full quarterly results will be disclosed in upcoming filings.

Ethema Health Corporation (OTCPINK: GRST) reported a strong second quarter for 2022, with its ARIA subsidiary achieving a remarkable $404,700 EBITDA, marking a 117% increase from the previous quarter. This growth stemmed from added beds and improved reimbursement rates. Additionally, the newly operational PB Billing LLC generated an EBITDA of $3,906. The company is finalizing the purchase of its operational building, and CEO Shawn Leon highlighted record billing claims for July, signaling ongoing expansion plans.