Often, a 'default' status implies simply missing a date/deadline and is something generally that can be rectified. That said, I wonder why Inmed did not keep this internal. Obviously implies a rather serious status level, and needs to be rectified asap, or else it is over.
My gut on Dr. Patel is perhaps he is assembling some additional funding or cash, as doctors generally are flush with cash and know other doctors who are also well funded, and perhaps they are forming an ownership group of doctors, of sorts. A doctors' ownership group would be ideal here.
Clearly it is still alive but needs immediate action. And the answer, like for most all business problems, is CASH.
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