FinancialsUpdated 2026-06-25
Use of Funds
The three phases
- Phase 1 — Repair & restart, ~$420k. Climate-resilient water and electrical rebuild ($70k), repairs to roofs, the yoga hall, pumps, and renovation ($200k), and 12 months of operating capital ($150k). The 2026 capital spend is repairs only. This is the mandatory part.
- Phase 2 — Conservation & community, ~$820k. Reserve expansion and community programs that build the moat and the grant pipeline.
- Phase 3 — Growth & innovation, ~$1,100k. Capacity, experience and brand investments that lift occupancy and rate.
The discipline
The business strictly needs only ~$700k to reopen and reach profitability: the peak cumulative cash gap is about $600k at the end of 2027, plus the $100k climate reserve. Phases 2 and 3 are drawn against milestones and are largely self-funded from operating cash (about $9M cumulatively over 2028–2033). In the base model the standby convertible is only partly called — about $505k of the $1.64M — and the remainder is never drawn.
⬇ Download the financial model (XLSX) · Forward-looking figures are management estimates. Confidential.