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 at the extreme quartiles of our ratios to identify credit stresses. The liquidity picture of the psychedelics sector has taken a sharp downturn over the last six months.  The median cash flow adjusted current ratio of the 25 tracked companies is now only .59x indicating that at least half of the group will need to obtain more financing during the year.  The bottom 25% of the companies register a -1.17x on the same ratio, indicating severe liquidity stress.  Most of these companies are pre-revenue and cannot obtain debt financing, so it will be interesting to see if the popular acclaim accorded the sector will translate into additional funding in the constrained capital markets environment.