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. Liquidity continues to be tight for many of the sectors. Liquidity in the psychedelics sector has decreased with the release of Q1 numbers. The 3^rd quartile of free cash flow adjusted current ratio for the 26 sector companies has risen from 4.5x to 5.0x, indicating excellent liquidity and ability to fund all current liabilities and cash burn for the year. The median value, however, is now -.17x indicating severe liquidity stress. More than ½ of the companies will need financing during the year. Will financing be available in a severely constrained capital market? The key will be positive momentum in clinical trials. Companies that show progress toward commercialization will likely find the financing to get there. But make no mistake, the environment is unforgiving, and those that stumble may not get up. The Viridian Chart of the Week looked at the stock trading liquidity to better gauge which companies are likely to be able to issue sufficient equity.