Overview
- IndustryServices-General Medical & Surgical Hospitals, NEC1
- HeadquartersWest Palm Beach, Florida1
- Incorporated inCO2
- Business address950 Evernia Street, West Palm Beach, Fl 334012
- Filer categoryNon-accelerated filer, Smaller reporting company2
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2010, offering various medical services, including endoscopy, cardiology and executive medicals, which services were subsequently sold.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs100¢$18.7M
- Income tax0¢$52.6K
Out of $18.8M in revenue.4 The company lost money this year.
Financial statements
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $359.9K5 | $339.0K6 | $1.9M7 | $4.8M8 | $5.3M9 | $6.0M4 | $18.8M4 |
| Operating expenses | $1.9M7 | $4.3M8 | $5.9M9 | $7.4M4 | $19.0M4 | ||
| Operating income | -$4.2M5 | -$163.3K6 | $2.1K7 | $489.1K8 | -$541.9K9 | -$1.3M4 | -$260.1K4 |
| Interest | $1.1M5 | $631.4K5 | |||||
| Income before tax | -$1.9M7 | $407.4K8 | $614.5K9 | -$2.2M4 | -$2.2M4 | ||
| Income tax | $280.9K7 | -$112.2K8 | -$392.0K9 | -$52.6K4 | |||
| Net income | -$15.0M5 | $3.1M6 | -$1.5M7 | $295.2K8 | $1.0M9 | -$2.1M4 | -$2.2M4 |
| Earnings per share | $0.009 | $0.004 | $0.004 | ||||
| Earnings per share (diluted) | $0.009 | $0.004 | $0.004 | ||||
| Shares (weighted, basic) | 3.7B shares9 | 5.6B shares4 | 7.7B shares4 | ||||
| Shares (weighted, diluted) | 3.9B shares9 | 5.6B shares4 | 7.7B shares4 |
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash | $3.0K5 | $90.5K6 | $48.8K7 | $140.8K8 | $68.6K9 | $244.8K4 | $59.5K4 |
| Receivables | $176.0K7 | $337.1K8 | $313.3K9 | $260.8K4 | $1.4M4 | ||
| Current assets | $255.4K5 | $935.2K6 | $271.8K7 | $542.9K8 | $403.1K9 | $528.8K4 | $1.6M4 |
| Property, plant and equipment | $3.0M7 | $3.0M8 | $508.4K9 | $699.7K4 | $1.4M4 | ||
| Goodwill | $3.4M4 | ||||||
| Intangible assets | $1.6M7 | $1.3M8 | $895.0K9 | $537.0K4 | $3.0M4 | ||
| Total assets | $3.2M5 | $3.8M6 | $6.6M7 | $6.6M8 | $11.5M9 | $12.2M4 | $28.8M4 |
| Short-term debt | $122.2K7 | $460.5K8 | $4.4M9 | $4.0M9 | $4.6M4 | ||
| Current liabilities | $18.6M5 | $13.9M6 | $13.5M7 | $13.3M8 | $8.3M9 | $9.7M4 | $15.4M4 |
| Long-term liabilities | $2.5M7 | $2.1M8 | $9.4M9 | $10.0M4 | $23.0M4 | ||
| Total liabilities | $23.2M5 | $18.4M6 | $16.0M7 | $15.4M8 | $17.7M9 | $19.6M4 | $38.4M4 |
| Retained earnings | -$44.1M7 | -$43.5M8 | -$42.4M9 | -$44.4M4 | -$46.6M4 | ||
| Shareholders’ equity | -$20.0M5 | -$15.7M6 | -$10.7M7 | -$9.2M9 | -$6.2M4 | -$7.5M4 | -$9.6M4 |
| Shares outstanding | 155.5M shares5 | 2.2B shares6 | 3.6B shares7 | 3.7B shares8 | 3.7B shares9 | 7.7B shares4 | 7.7B shares4 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash from operations | -$2.9M5 | -$102.0K6 | -$85.6K7 | $1.6M8 | -$530.2K9 | -$455.7K4 | -$32.9K4 |
| Depreciation and amortization | $325.4K7 | $540.1K8 | $498.9K9 | $467.0K4 | $812.3K4 | ||
| Capital spending | -$120.0K5 | $132.8K6 | $315.8K8 | $40.6K9 | $60.3K4 | $277.7K4 | |
| Free cash flow | -$3.0M | -$218.4K | $1.3M | -$570.8K | -$516.0K | -$310.6K | |
| Cash from investing | -$573.0K7 | -$712.3K8 | $2.5M9 | -$1.0M4 | -$253.7K4 | ||
| Cash from financing | $590.2K7 | $303.7K8 | -$2.1M9 | $1.7M4 | $81.9K4 |
What it owns
What ETHEMA HEALTH Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $1.9M4 Dec 31, 2025 | $975.4K9 Dec 31, 2024 | +95.3% |
| Accumulated depreciation | $527.5K4 Dec 31, 2025 | $275.7K9 Dec 31, 2024 | +91.3% |
| Property and equipment, net | $1.4M4 Dec 31, 2025 | $699.7K4 Dec 31, 2024 | +96.9% |
| Operating-lease assets (leased space) | $10.5M4 Dec 31, 2025 | $9.9M4 Dec 31, 2024 | +6.3% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $59.5K4 Dec 31, 2025 | $244.8K4 Dec 31, 2024 | −75.7% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $3.4M4 Dec 31, 2025 | ||
| Finite-lived intangibles, gross | $4.8M4 Dec 31, 2025 | $1.8M9 Dec 31, 2024 | +167.4% |
| Accumulated amortization | $1.8M4 Dec 31, 2025 | $1.3M9 Dec 31, 2024 | +44.7% |
| Finite-lived intangibles, net | $3.0M4 Dec 31, 2025 | $537.0K4 Dec 31, 2024 | +453.6% |
Properties, in its own words
Ethema Executive Offices
The Company’s executive offices are located at 950 Evernia Street, West Palm Beach, Florida, 33401.
The rest of Item 2
West Palm Beach Treatment Operations
The Company, through its acquisition of ATHI, effectively acquired an initial 75% of the Evernia treatment facility located at 950 Evernia Street, West Palm Beach Florida. On May 15, 2024, the Company acquired the remaining 25% of ATHI. The Company has been actively involved in the operation of the Evernia treatment facility since June 2020.
On March 22, 2024, the Company through its subsidiary Evernia Health Center LLC, entered into a Definitive Agreement whereby the Company assumed the lease for suites 100, 101, 201, 202 and 203, located at 899 Meadows Road, Boca Raton, Florida (the “Boca Leased Premises”). The company began operating a treatment facility at the Boca Lease Premises during January 2025.
Kentucky Treatment Operations
The Company through the acquisition of the business, certain assets and liabilities of Edgewater Recovery Center, LLC, operates treatment centers in Morehead, Kentucky and Paducah, Kentucky through 11 leased properties, of which two are in Paducah and the remaining in Morehead.
Item 2 of the 10-K filed Jul 1, 2026.3
Leadership
Who has led ETHEMA HEALTH Corp, and when. Pick a name to see everywhere that person has worked.
- Chief executive officerShawn Edward Leon Dec 12, 2018 to Jul 29, 202412
- Chief financial officerWilliam L. Sklar Nov 14, 2014 to Nov 14, 201413
Board members and other officers (1)
- Board memberShawn Edward Leon Dec 12, 2018 to Jul 29, 202412
Former names
Timeline
- Jan 23, 20258-K Entered a material agreement; Completed an acquisition or sale; New debt or obligation14
- Jan 10, 20258-K Shareholder vote15
- Oct 29, 20248-K Entered a material agreement16
- Jul 12, 20248-K Entered a material agreement; Unregistered sale of shares17
- Jun 18, 20248-K Completed an acquisition or sale; New debt or obligation18
- Feb 7, 20248-K Entered a material agreement19
- Dec 22, 20238-K Change of auditor20
- Aug 11, 20238-K Entered a material agreement; Completed an acquisition or sale; New debt or obligation21
- Jul 18, 20238-K Change of auditor22
- May 10, 20238-K Change of auditor23
- Mar 21, 20238-K Change of auditor24
- Jul 22, 20228-K Entered a material agreement25
- Dec 12, 2018New chief executive Shawn Edward Leon becomes CEO12
Filings
70 filings to the SEC since October 2021: 5 annual reports, 13 quarterly reports, 12 major events, 7 insider forms, 33 other. The latest 20:
- Aug 17, 2026NT 10-Q EDGAR
- Jul 1, 202610-K EDGAR
- May 15, 2026NT 10-Q EDGAR
- Apr 13, 2026NT 10-K EDGAR
- Mar 30, 2026NT 10-K EDGAR
- Dec 3, 202510-Q EDGAR
- Nov 14, 2025NT 10-Q EDGAR
- Nov 3, 202510-Q EDGAR
- Oct 17, 202510-Q EDGAR
- May 23, 202510-K EDGAR
- May 15, 2025NT 10-Q EDGAR
- Mar 31, 2025NT 10-K EDGAR
- Jan 23, 20258-K EDGAR
- Jan 23, 2025DEF 14C EDGAR
- Jan 10, 2025PRE 14C EDGAR
- Jan 10, 20258-K EDGAR
- Nov 22, 20244 EDGAR
- Nov 14, 202410-Q EDGAR
- Oct 29, 20248-K EDGAR
- Aug 19, 202410-Q EDGAR
The 70 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
10 open-market trades by officers, directors and large owners since October 2021: 10 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Nov 21, 2024 | Greene Eileen Maria | Buy | 10,000,000 | Form 4 | ||
| Nov 20, 2024 | Greene Eileen Maria | Buy | 34,092,551 | Form 4 | ||
| Jul 12, 2024 | Leon Shawn EdwardCEO | Buy | 3,000,000,000 | Form 4 | ||
| Jul 12, 2024 | Greene Eileen Maria | Buy | 1,000,000,000 | Form 4 | ||
| Jun 20, 2024 | Greene Eileen Maria | Buy | 5,000,000 | Form 4 | ||
| Jun 18, 2024 | Greene Eileen Maria | Buy | 5,000,000 | Form 4 | ||
| Jun 6, 2024 | Greene Eileen Maria | Buy | 26,425,000 | Form 4 | ||
| Jun 6, 2024 | Greene Eileen Maria | Buy | 26,425,000 | $0.04 | $1.1M | Form 4 |
| Jun 5, 2024 | Greene Eileen Maria | Buy | 10,005,000 | Form 4 | ||
| Jun 5, 2024 | Greene Eileen Maria | Buy | 10,005,000 | $0.04 | $400.2K | Form 4 |
From Forms 4 filed with the SEC.
SEC filer profile
How ETHEMA HEALTH Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARETHEMA HEALTH Corp1
- CIK0000792935
- Employer ID (EIN)84-12273283
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
- Incorporated inColorado3
- Fiscal year endsDecember 311
- Industry code (SIC)8062 Services-General Medical & Surgical Hospitals, NEC1
- SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
- Business address950 Evernia Street, West Palm Beach, FL 334011
- Phone561-593-83651
- Shares outstanding7,726,283,805 shares as of Jun 29, 20263
- Public float$1.4M as of Jun 30, 20253
- AuditorRBSM LLP, Boca Raton, FL PCAOB ID 5873
- On EDGAR sinceAug 11, 19951
- Filings339 in all: 8-K (86), 10-Q (53), 10QSB (38), NT 10-Q (32), 10-K (18), NT 10-K (16), 10KSB (12), UPLOAD (10)1
All 36 form types
8-K/A (7), CORRESP (7), 4 (6), 10-K/A (5), PRE 14A (4), SC 13D (4), 1-A POS (3), 1-A/A (3), 10-Q/A (3), 10KSB/A (3), 144 (3), D (3), PRER14A (3), S-8 (3), 10QSB/A (2), 3 (2), QUALIF (2), 1-A (1), 1-A-W (1), 4/A (1), 8-K12G3 (1), AW (1), DEF 14A (1), DEF 14C (1), DEFA14A (1), PRE 14C (1), SC 13D/A (1), SC 13E4 (1)
- Latest filingsAnnual report (10-K) Jul 1, 2026
Quarterly report (10-Q) Dec 3, 2025
Proxy statement (DEF 14A) Aug 10, 2015
Latest 8-K (8-K) Jan 23, 2025
Risk factors and legal proceedings
Legal proceedings
We are currently not involved in any litigation that we believe could have a material adverse effect on our financial condition or results of operations. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of our company or any of our subsidiaries, threatened against or affecting our company, our common stock, any of our subsidiaries or of our companies or our subsidiaries’ officers or directors in their capacities as such, in which an adverse decision could have a material adverse effect.
The opening of Item 3, Legal Proceedings.3
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15SEC EDGARShareholder vote
- 16SEC EDGAREntered a material agreement
- 17
- 18
- 19SEC EDGAREntered a material agreement
- 20SEC EDGARChange of auditor
- 21
- 22SEC EDGARChange of auditor
- 23SEC EDGARChange of auditor
- 24SEC EDGARChange of auditor
- 25SEC EDGAREntered a material agreement