The Viridian Credit Tracker utilizes 11 different bespoke credit ratios to evaluate four aspects of credit quality: Liquidity, Leverage, Profitability, and Size. We are looking carefully at liquidity, given the challenging environment for capital raises. The median cash flow adjusted current ratio for the 95 Cultivation & Retail companies in our database is only .65x, indicating that more than half of the companies will require financing to make it through the following year. Even the highest 25% of the group is only above 1.48x, not particularly liquid. The SAFE+ Act, if passed, has the potential to revolutionize cannabis liquidity. Cannabis companies now have to maintain balance sheet liquidity because, unlike most American corporations, they have not been able to keep committed but unfunded credit lines as a source of liquidity. We do not expect SAFE to make this difference immediately, but it will be a meaningful start in the right direction.