Cash-strapped Chalice has made a habit of defaulting not only on interest payments but continues to default on the debt payments as well.
The debt-laden micro company Chalice financials show operating cash flows were not sufficient to service its term loans and interests, the debt has increased by 70% since Q2/2021 to reach over $25MM compared to $11MM reported in Q2
Chalice needs to be evaluating various options for a viable restructuring, including sale /monetization of assets, sale of locations, equity infusion, and even more borrowing via debt refinancing by investors which will further dilute investors’ equity. The alternative in 2022 is either receivership or a hostile takeover by debt holders. One of the best alternatives, company acquisition is not attractive because of the continued failure for 8 years and the failure of any gimmicks to push the stock upwards but down 80% in 8 months record time