Ethema Releases Third Quarter Results
West Palm Beach, Florida - (NewMediaWire) - November 16, 2020 - Ethema
Health Corporation (OTCPINK: GRST) (“Ethema” “GRST” or the “Company”), is
pleased to have filed today, its third quarter 10-Q within the prescribed
time frame allowed for SEC reporting companies. This is a significant
accomplishment after the Company missed filing within the prescribed time for
SEC reporting companies for the last three reporting periods. The Company
has worked hard with its auditors to get caught up. With this latest filing,
the Company has filed four periodic reports in just over four
months. The Company suffered some major setbacks in 2020 and along
with the restrictions imposed by the Covid-19 pandemic and the complexity of
much of the Company debt, the financial reporting became extremely difficult
and the cause of the late filings earlier in the year.
Included in
the quarterly report is a report on subsequent events to the reported period that
cover recent financings the company has completed. The Company has raised
net proceeds of $305,000.00 after the end of the reported period. There
will be an additional report on form 8K on these financings along with much of
the restructuring documentation and other recent financing details, all of
which have been reported previously in quarterly filings. The Company has
raised sufficient funding to support both the Company’s commitments to its
revised debt payment schedules as well as the cash flow requirements of its
investment in its new treatment center location to date.
Additionally,
the Company has retained the law firm of Fabian Vancott to file for
registration, a form 1-A for a Tier 2 Regulation A+ offering to permit it to
raise additional funds over a one year period from the date of acceptance of
the filing by the SEC, that will be used for Acquisition purposes and partially
for the repayment of the Company’s convertible loans as they become due.
The Company continues to look at acquisition prospects that require cash to
close. There are additional opportunities for organic growth that require
much less cash but still require more cash than currently available from the
Company.
The Company
is pleased with the progress of the new treatment center operated by Evernia
Health Center LLC under the trade name of Addiction Recovery Institute of
America (ARIA) and operating ahead of expectations at this very early
stage. Aria has received a provider number from Blue Cross
well ahead of the time expected and continues to get credentialed by other
insurers as applications for reimbursements are submitted.
The Company
has no new updates at this time on previously announced acquisitions and
expects to make further announcements soon. The Company has been giving
minor updates on Twitter @healthethema.
About
Ethema Health Corporation
Ethema
Health Corporation (OTCPINK: GRST) operates in the behavioral healthcare space
specifically in the treatment of
substance use disorders. Ethema developed a unique style of treatment over the
last eight years and has had much success with in-patient treatment for adults.
Ethema will continue to develop world class programs and techniques for North
America. For more information you can visit our website at www.ethemahealth.com .
Notice
Regarding Forward-Looking Statements
The
information contained herein includes forward-looking statements. These
statements relate to future events or to our future financial performance, and
involve known and unknown risks, uncertainties and other factors that may cause
our actual results, levels of activity, performance, or achievements to be
materially different from any future results, levels of activity, performance
or achievements expressed or implied by these forward-looking statements.
You should not place undue reliance on forward-looking statements since
they involve known and unknown risks, uncertainties and other factors which
are, in some cases, beyond our control and which could, and likely will,
materially affect actual results, levels of activity, performance or
achievements. Any forward-looking statement reflects our current views
with respect to future events and is subject to these and other risks,
uncertainties and assumptions relating to our operations, results of
operations, growth strategy and liquidity. We assume no obligation to publicly
update or revise these forward-looking statements for any reason, or to update
the reasons actual results could differ materially from those anticipated in
these forward-looking statements, even if new information becomes available in
the future.
For
information please contact:
Ethema
Health Corporation
Text to
416-500-0020
shawn@ethemahealth.com
Twitter
@healthethema