Improvements in credit quality have mirrored the significant increases in valuation in the Agriculture Technology sector. The median of the 19 companies on Viridian’s free cash flow adjusted current ratio is now .19x, still showing crisis-level liquidity issues but slightly better than the .06x we saw at the end of August. Similarly, the median total liabilities to market cap has improved from 1.83x in August to 1.7x currently. Cash flow has also improved a bit:  Funds from operation to total liabilities are still negative at -.37x, which is better than the -.57x observed in August. The sector relies on increased cultivation, which depends on new state legalization but also on the ability of cultivators to finance growth. Both of these are hopeful but not yet in the bag. The sector will most likely have to struggle through another less-than-robust year. The critical liquidity indicators suggest dilutive financing or sector consolidation.