Swapping a $23M business for $1M cash while banking on locked WLFI tokens shows how dire crypto balance sheets have become

AI Financial Corp. has swapped ALT5 Sigma Canada for a secured note and restricted shares. As a result, only $1 million of note principal is due in the near term, while a separate, conditional WLFI transferability window approaches. On Aug. 3, the company sold its indirect, wholly owned subsidiary to Prime Delta. Under the terms disclosed Aug. 7, AI Financial received a $12 million secured promissory note and 11,551,…