Ethema Health Corporation Updates Shareholders on Financial Filings and Expansion Efforts

Ethema Health Corporation has informed shareholders about delays in its 2024 10-K filing, which has postponed the release of its first quarter results. The company anticipates filing these results by the end of the month, enabling timely submission of the second quarter's financials. Ethema's application for listing on the OTC-ID market has been approved, pending the first quarter 10-Q filing, with its current Pink market listing transitioning to the Expert Market on July 18, 2025.

The company reported first quarter revenues of approximately $3.5 million, with $2.1 million stemming from its newly acquired Kentucky operations. Second quarter revenues are estimated at $4.4 million, awaiting audit review. Ethema projects third quarter revenues to reach $5.5 million, aiming for optimal efficiency at $6.3 million quarterly revenues through expansion and organic growth.

Ethema's Florida facilities received re-certification from the Joint Commission, underscoring its commitment to quality care and regulatory compliance. The Boca Raton facility has reached full capacity, with Florida operations at 93% occupancy. In Kentucky, Ethema is progressing with Medicaid certification and has been approved as a provider by the Department of Corrections, enhancing its service offerings and patient intake capabilities.

CEO Shawn Leon praised the integration of Kentucky operations and the successful Joint Commission audit in Florida, expressing optimism for continued growth and profitability. The company's efforts in both states reflect its strategic focus on expanding its footprint and improving operational efficiency in the behavioral healthcare sector.