Ethema Updates Shareholders on Public Filings and Interim Results
The Company experienced audit related delays in its filing of its 2024 10-K which has caused a further delay in filing its first quarter results. The first quarter review is currently underway and is expected to be filed before month end which will then allow the Company to get its second quarter filed on time.
The Company filed for listing on the new OTC-ID market in June and was approved for listing as soon as it files its first quarter financials on form 10-Q. The current listing on the Pink market will switch to the Expert Market on July 18, 2025 and will be restored to the OTC-ID market as soon as the first quarter 10-Q is filed.
2025 GUIDANCE
Revenues for the first quarter ended March 31, 2025, was approximately $3.5 million, including revenue of approximately $2.1 million from our Kentucky operations that was acquired with effect from January 9, 2025.
Revenues for the second quarter ended June 2025, was approximately $4.4 million, subject to audit review.
Our current revenue projection and trend for the quarter ending September 30, 2025 is expected to be $5.5 million, subject to any unforeseen circumstances. We expect our facilities to reach optimum efficiency when quarterly revenues are approximately $6.3 million The Company is quickly approaching maximum efficiency levels and will look for further expansion through acquisition and organic growth.
FLORIDA RE-CERTIFICATION AND EXPANSION
Ethema was recently re-certified for another three years by the internationally recognized Joint Commission accrediting body. The Joint Commission completed its audit of our West Palm Beach and Boca Raton locations, with minimal and minor findings, demonstrating our commitment to the safety and quality of our care for our patients and the successful outcome of our treatment regimens. In addition, the accreditation ensures we maintain and exceed state and local regulatory compliance requirements. The Boca Raton facility recently reached capacity and total occupancy in Florida reached 93% in July. The Company is working on improvements to its properties and staff to further enhance and improve customer experience.
KENTUCKY LICENSING AND EXPANSION
We are pleased to report that we have completed at least 70% of the process of certification and listing with the Managed Care Organizations representing Medicaid in Kentucky. We have completed the process with Humana and Aetna and expect to be added to the Passport Molina system in the next two weeks. The process with United and Wellcare is well underway but may take a few weeks longer. These processes will complete the transition from Edgewater Recovery Centers to ARIA Kentucky. In addition, we are pleased to announce that we have been added as an approved provider to the Department of Corrections ('DOC') in Kentucky allowing the DOC to refer clients to ARIA Kentucky for treatment.
Our Kentucky operations have a total of 347 licensed beds of which 275 are fully staffed and operational, the remaining 72 will become operational and staffed when our patient count increases. In addition to this, we have an additional 36 beds available to outpatients that have completed our programs and are in a transitional period. The current total census has reached approximately 230 customers, allowing for significant further growth.
Mr. Shawn Leon, Company CEO, reported, 'The Kentucky operations are significant to the group and the integration has gone very smoothly, primarily attributable to our very dedicated teams in Florida and Kentucky. The Joint Commission audit in Florida was one of our best ever results for an accrediting audit and I am very proud of the Florida team for that accomplishment. We will continue to optimize the Florida and Kentucky assets and increase our patient count in our facilities, which will improve our profitability prospects.'
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 decade 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
[email protected]
Text to 416-500-0020
Twitter @healthethema
View the original release on www.newmediawire.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
26 minutes ago
- Business Wire
BNED Investors Have Opportunity to Join Barnes & Noble Education, Inc. Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Barnes & Noble Education, Inc. ('Barnes & Noble' or 'the Company') (NYSE: BNED) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Barnes & Noble filed a Form 8-K with the SEC on July 18, 2025, stating that it had 'filed a Notification of Late Filing on Form 12b-25 ('Form 12b-25') with the [SEC] to report that [Barnes & Noble] is unable to file its Annual Report on Form 10-K for the year ended May 3, 2025 within the prescribed time period without unreasonable effort or expense. The Form 12b-25 included selected preliminary and unaudited financial results for the fiscal year ended May 3, 2025 and included the following information: Certain information regarding the recording of cost of digital sales was brought to the attention of management in July 2025, which promptly informed the Audit Committee (the 'Committee') of the Board of Directors of the Company, that caused the Committee to commence an internal investigation with the assistance of outside counsel and advisors.' Based on this news, shares of Barnes & Noble fell by 21% on July 21, 2025. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Forbes
27 minutes ago
- Forbes
Real Estate Set To Soar After Trump's One Big Beautiful Bill
WASHINGTON, DC - JULY 04: U.S. President Donald Trump, joined by Republican lawmakers, signs the ... More One, Big Beautiful Bill Act into law during an Independence Day military family picnic on the South Lawn of the White House on July 04, 2025 in Washington, DC. After weeks of negotiations with Republican holdouts Congress passed the One, Big Beautiful Bill Act into law, President Trump's signature tax and spending bill. The bill makes permanent President Donald Trump's 2017 tax cuts, increase spending on defense and immigration enforcement and temporarily cut taxes on tips, while cutting funding for Medicaid, food assistance and other social safety net programs. (Photo by) The One Big Beautiful Bill Act, signed into law by President Donald Trump on July 4, 2025, is not without its critics. From concerns about ballooning deficits to controversial cuts to Medicaid, many see the legislation as a step backward. However, for those in the commercial real estate industry, the bill is a potential game-changer. New tax provisions offer clarity and long-term stability for developers and investors, setting the stage for what could be the next major boom in the sector. While the provisions of the OBBBA will have significant implications for the entire commercial real estate market, two sectors stand to benefit particularly: low-income multifamily housing and industrial development. A Permanent Boost for Affordable Housing There is a growing housing shortage in the United States, especially in the low-income end of the market. The lack of affordable units drives homelessness, deepens poverty, strains public services, and weakens the economy by limiting workforce mobility and long-term social stability. The OBBBA specifically targets this crisis with the new incentives and provisions to jumpstart development. According to DLP Capital, a private real estate investment company specializing in affordable housing development, the gap between qualified income and actual income has grown to 54.6% from -3.7% since 2021. DLP believes the new incentives will have a significant impact on the market. "The OBBBA may be the most pro-housing CRE legislation in a generation," says DLP's head of growth, Bo Parfet. The OBBBA includes a significant boost to the Low-Income Housing Tax Credit program, which is the nation's primary tool for creating affordable housing. Before the OBBBA, it operated with annual allocations that were subject to congressional approval and extension. While effective, this approach created uncertainty for long-term project planning and limited states' ability to address the housing shortage with consistent, predictable funding. The OBBBA provides a permanent 12% increase in the annual amount of 9% LIHTC allocations. Another provision created under the OBBBA is the Fast-Track Permitting Fund, which allows developers to pay a fee to expedite federal environmental reviews under the National Environmental Policy Act. This fund is particularly beneficial for low-income housing projects that rely on federal funding or tax-exempt bonds, as it helps reduce delays that often derail or inflate the development costs. By streamlining the approval process, the fund enables affordable housing projects to meet financing deadlines more easily, improve predictability, and bring much-needed units to market more quickly. The hope is that the Fast-Track Permitting Fund will put political and market pressure on states and cities to follow suit, further reducing bottlenecks. The lengthy permitting process is often a deal-killer for developers, and reducing the timeline to construction should improve investment returns. "Multifamily—especially workforce housing—is the clear winner. More deals will move forward, faster," says Parfet. In addition to adjustments to the Low-Income Housing Tax Credit program and the introduction of the Fast-Track Permitting Fund, changes to opportunity zones are also expected to fuel growth in affordable housing. The Qualified Opportunity Zone program, designed to incentivize long-term investments in low-income communities, was created with a sunset date of December 31, 2026, for capital gain deferral. The OBBBA makes the deferral feature permanent. It also introduces new 10-year designation periods for new zones, starting in 2027, and includes provisions for rural opportunity zones with enhanced benefits. The introduction of rural opportunity zones should help direct capital into underserved rural areas, potentially spurring new industrial and multifamily developments in these regions. Investors who may have been hesitant due to the previous program's limited lifespan will likely re-evaluate Qualified Opportunity Zone projects, leading to new capital flowing into underserved communities and regions. Ben Reinberg, CEO of real estate investment firm Alliance Consolidated Group of Companies, believes the new legislation will re-energize OZ investments. "For long-term investors looking to reduce exposure and amplify yield, OZs just became very relevant again," he says. Massive Incentives For Domestic Manufacturing The Trump administration has made domestic manufacturing a central focus, using tariffs to try to shift supply chains and incentivize production at home. The OBBBA complements that strategy, combining new tax incentives with the renewal of other programs to accelerate industrial development and attract capital back to U.S. soil. The biggest incentive in the bill targets Qualified Production Property. Before the OBBBA, nonresidential buildings, such as factories, were typically depreciated over a lengthy 39-year period. While equipment and other tangible personal property qualified for bonus depreciation, the buildings themselves did not. The OBBBA introduces a new, temporary provision that allows for a 100% immediate deduction of the cost of QPP. To qualify, construction must be completed before January 1, 2029, and the property must be placed in service before January 1, 2031. QPP excludes offices, administrative areas, lodging, and parking within the building. The ability to immediately deduct the cost of eligible manufacturing facilities provides a powerful tax incentive. The QPP provision should stimulate the construction of new factories, assembly plants, and processing facilities across the U.S., encouraging companies to reshore production from overseas or nearshore from other countries to the U.S. The growth of manufacturing facilities should lead to increased demand for other logistics assets such as distribution centers and warehousing. "The opportunity lies in overlooked industrial corridors, characterized by land availability, low regulation, and favorable tax structures," Reinberg notes. "Industrial CRE is the sleeping giant. This bill just woke it up." Permanent 100% bonus depreciation, which allowed businesses to deduct the full cost of eligible qualified property immediately, was also introduced in the OBBBA. The previous law had 100% bonus depreciation phasing down. For property placed in service in 2025, the rate was set at 40%, declining further in subsequent years. The phase-down created urgency for capital expenditures to take advantage of the higher deduction rates. Another positive provision for commercial real estate is the change to the deductibility of interest costs. The previous law restricted the deduction of business interest expense to 30% of adjusted taxable income and excluded the add-back of depreciation and amortization from the calculation, lowering the amount of deductible interest for capital-intensive businesses. The OBBBA permanently amends the calculation for the business interest expense limitation to include depreciation and amortization. By including these expenses in the determination of adjustable taxable income, real estate businesses will generally be able to deduct a larger portion of their business interest expense, increasing cash flow and improving the overall profitability of debt-financed projects. In a higher-interest-rate environment, this change makes borrowing more attractive. The Revival of Commercial Real Estate The OBBBA is undoubtedly positive for the commercial real estate market. By enhancing incentives such as 100% bonus depreciation, LIHTC, fast-track permitting, and opportunity zones, the OBBBA can provide clarity and predictability to investors and developers, ultimately helping to address the affordable housing problem. Meanwhile, the new Qualified Production Property deduction is expected to reinvigorate the industrial market and promote domestic manufacturing. The OBBBA is indeed beautiful, especially for commercial property.
Forbes
an hour ago
- Forbes
Trump Approval Rating Increases 2 Points From Last Week
July 28 -3 net approval rating: The president's approval rating increased two points, to 47%, and his disapproval rating declined two points, to 50% in Morning Consult's weekly survey compared to last week's poll. The last time Trump had a net positive approval rating in Morning Consult's poll was in March. July 24 -21: Trump's 37% approval rating is down from 47% in January, while 58% disapprove of his job performance, compared to 48% in January, according to a July 7-21 Gallup poll of 1,002 adults (margin of error 4). Trump's average approval rating for the second quarter of his second term, April 20-July 19, is 40% in Gallup polling, compared to a 39% average in the second quarter of his first term but below second-term averages for every post-World War II president. July 22 -14: Trump's approval rating is unchanged from last week in the latest Economist/YouGov survey of 1,729 U.S. adults taken July 18-21 (margin of error 3.4), with 41% approving of his job performance and 55% disapproving, compared to a 49% approval rating and 43% disapproval rating at the start of his term, according to Economist/YouGov polling. An overwhelming majority, 81% of respondents, said the government should release all documents related to its probe into Jeffrey Epstein, while 69% said they believe the government is covering up evidence about Epstein, and 56% disapprove of Trump's handling of the Epstein investigation. July 16 -16: A total of 42% approve of Trump's job performance, while 58% disapprove in a new CNN/SSRS poll of 1,057 respondents conducted July 10-13 (margin of error 3.5), representing a one-point improvement in Trump's approval rating since April and a one-point drop in his disapproval rating. The majority, 61%, of Americans said they oppose Trump's signature policy bill that would pay for tax breaks and additional border security, among other measures, in part, by cutting Medicaid, while 39% said they approve of the so-called megabill. July 15 -14: Trump's net approval rating dipped to its lowest point of his second term in Economist/YouGov polling, with 41% approving and 55% disapproving, according to the survey of 1,506 registered voters (margin of error 3.1)—consistent with his lowest approval rating of his first term, according to Economist/YouGov polling. July 14 -3: Trump's approval rating improved two points, to 47%, while his disapproval rating also improved two points, to 50%, in Morning Consult's weekly survey of 2,201 registered voters with a two-point margin of error. July 2 -16: Trump's approval rating stands at 40% in a Yahoo/YouGov poll of 1,597 U.S. adults conducted June 26-30 (margin of error 3.2), a four-point decrease from the groups' March poll, while 56% disapprove. Trump's -16 net approval rating is three points worse than it was at this point during his first term, according to YouGov data, while former President Barack Obama had a +14 net approval rating and former President Joe Biden had a +7 approval rating halfway through their first years in office. June 30 -3: Trump's disapproval rating improved from 53% to 50% in Morning Consult's weekly poll compared to its survey last week, while his approval rating increased from 45% to 47% (the survey of 2,202 registered voters was conducted June 27-29 and has a two-point margin of error). The rating was Trump's best since May and coincides with an uptick in respondents' approval of his handling of national security issues since last week, following a cease-fire agreement between Israel and Iran. June 23 -16: Trump's approval rating dipped one point, to 41%, in a Reuters/Ipsos survey of 1,139 U.S. adults taken June 21-23 from its June 11-16 survey, with 57% disapproving (the latest poll has a 3-point margin of error). The poll also found a plurality, 45%, of U.S. adults surveyed do not support the airstrikes on Iranian nuclear facilities over the weekend, while 36% support them and 19% said they were unsure. June 17 -13: An Economist/YouGov poll found 54% of voters disapprove of Trump's job performance, while 41% approve (the survey of 1,512 U.S. adults was conducted June 13-16 and has a 3.3-point margin of error). The survey also found Trump's approval rating is underwater when it comes to his handling of Iran, with 37% approving and 41% disapproving, while 60% of respondents, including 53% of 2024 Trump voters, say the U.S. should not get involved in the conflict between Israel and Iran, as Trump has repeatedly threatened U.S. military intervention. June 17 -17: Trump's net approval rating improved two points in the latest Pew Research survey taken June 2-8, compared to the group's last poll in April, with the latest survey showing 41% approve and 58% disapprove (the survey of 5,044 U.S. adults has a 1.6-point margin of error). June 16 -6: Trump's net approval rating dipped two points in Morning Consult's latest weekly survey of 2,207 registered U.S. voters (margin of error 2), with 46% approving and 52% disapproving of his job performance, numbers the pollster notes are on par with his ratings in April and early May, during a downward spiral that coincided with his shock tariffs. June 16 -12: Trump's approval rating remained stagnant at 42% in a Reuters/Ipsos poll taken June 11-16, compared to the groups' May poll, but his disapproval rating increased two points, to 54%, in the latest survey of 4,258 U.S. adults (margin of error 2). June 16 -4: Trump's approval rating declined one point, from 47% to 46%, in the latest Harvard CAPS/Harris survey, compared to the groups' poll taken last month, while 50% of respondents said they disapprove of his job performance (the online survey of 2,097 registered voters was conducted June 11-12 and has a 2.2-point margin of error). Trump's approval rating in the Harvard CAPS/Harris poll has dropped every month since February, when he had a 52% approval rating. Trump's approval rating for nine separate issues also declined from May to June, with less than half of voters saying they approve of each of them, with tariffs and trade policy receiving the lowest marks (41%) and immigration receiving the highest (49%). June 15 -10 net approval rating: More than half, 55%, of voters said they disapprove of Trump's job performance and 45% said they approve in an NBC survey of 19,410 U.S. adults conducted May 30-June 10 (margin of error 2.1). June 11 -16: Trump's approval rating dipped three points, to 38%, in Quinnipiac University's latest poll conducted June 5-9 among 1,265 registered voters (margin of error 2.8), compared to its previous poll in April, when he had a 41% approval rating, while his disapproval rating dropped one point, to 54%. The survey also found more voters, 57%, have an unfavorable opinion of Elon Musk, while 53% have an unfavorable opinion of Trump, though more than half, 53%, oppose Trump's 'One Big Beautiful Bill Act' that was the source of Musk's rant against Trump last week. June 9 -10: A CBS/YouGov poll conducted June 4-6 found 45% approve of Trump's job performance, while 55% disapprove (the poll of 2,428 U.S. adults has a, 2.4-point margin of error). In a separate, one-day YouGov survey conducted June 5, amid Trump's feud with Musk, the majority of 3,812 U.S. adults (52%) said they side with neither Musk nor Trump, while 28% said they side with Trump, 8% said they side with Musk and 11% said they aren't sure. June 9 -4 net approval rating: Trump's approval rating improved one point, to 47%, in Morning Consult's weekly poll, while 51% disapprove of his job performance for the third week in a row (the survey of 1,867 registered U.S. voters has a 2-point margin of error). Trump's feud with Musk doesn't appear to have dented his approval ratings in the first two polls that overlapped with their public spat—though it's unclear how Americans perceive his response to protests in Los Angeles over his aggressive deportation push, as no reliable polling has been released since the protests began over the weekend. June 4 -4: For the first time in two months, less than half (49%) of U.S. adults surveyed by the Economist/YouGov disapprove of Trump's job performance, compared to 45% who strongly or somewhat approve, representing a significant improvement from the groups' April 19-22 poll, when Trump had a net -13 approval rating (the latest poll of 1,610 U.S. adults conducted May 30-June 2 has a 3-point margin of error). June 2 -5: Trump's approval rating dropped from 48% to 46% in this week's Morning Consult poll compared to its previous survey, while his disapproval rating was stagnant at 51% (the May 30-June 2 poll of 2,205 registered voters has a 2-point margin of error). The share of registered voters who say they identify with Trump's Make America Great Again movement has increased sharply during Trump's second term, according to NBC polling. A total of 36% of 1,000 registered voters polled March 7-11 said they consider themselves part of the MAGA coalition, compared to a 23% average in NBC's March polling and 27% in the network's 2024 polls (the most recent poll has a 3.1-point margin of error). 42%. That's Trump's average approval rating so far during his second term, higher than his 41% average approval rating throughout the duration of his first term, according to Gallup. Just after marking his sixth month in office, Trump is facing arguably the biggest public relations crisis of his second term as his base has broken with him over the Justice Department's refusal to release documents detailing its investigation into Epstein. Among other major moments of his second term: Trump launched a military strike against Iran's nuclear facilities, leading to a cease-fire agreement during Iran and Israel. Congress also approved his signature policy legislation that will enact some of his most significant campaign promises, including an extension of his 2017 tax cuts and tighter border control. Trump's approval rating has declined since the start of his term, with a notable plunge coinciding with his wide-ranging 'Liberation Day' tariffs he announced on April 2 against nearly all U.S. trading partners, though he has largely backed off most of the levies. Prior to the Epstein controversy, the leak of U.S. military attack plans to Atlantic editor-in-chief Jeffrey Goldberg was widely considered the first big crisis of Trump's second term. His efforts to slash the federal workforce with the help of the Musk-led Department of Government Efficiency and his mass deportation push are two other controversial hallmarks of his second term that have prompted numerous legal actions.
