Harbor Custom Development, Inc. is contemplating filing for bankruptcy as of November 14, 2023. According to company's SEC filing, the Company failed to maintain compliance with certain financial covenants within its loan agreements requiring loan amendment or covenant waivers; it has no borrowing availability under its revolving credit facility; it has significant debt of $ 116.7 million maturing over the next 12 months as of September 30, 2023; it had significant uses of cash flows from operations over the past two years; it had a $ 16.9 million net loss during the year ended December 31, 2022, an $ 18.3 million net loss for the third quarter of 2023, and a net loss of $ 27.5 million for the nine months ended September 30, 2023; and the real estate and construction industries are experiencing declining market conditions which have negatively impacted property valuations as well as financing capabilities and terms.