For me there is too much debt and the balance sheet has a lot of intangibles.
Debt to equity is 121%. Debt to market cap is 38%
Balance sheet has $41M in liabilities. Only $15M in current assets. $49M non-current assets. Most of this goodwill, then leases and then loans to partners.
Not sure what the debt covernants are, but in a falling market this is not for me.