Harbor Diversified is almost exclusively Air Wisconsin operations. The Therapeutics/"medical" side is "...a non-operating entity with no material assets." page 10
Percentage ownership is page 99, Executive compensation is page 97, BOD compensation is page 93.
The operating losses "Loss from Operations" for 2018, 2019 are on page 57. The Net Income/Loss also on this page.
The reason 2018 was also not a Net Loss is because they had a "Gain on extinguishment of debt" of $198M on page 57 and 59. It is a one-time gigantic boost. The company still has an operating loss year over year. The 2018 net income giant gain was essentially a one-time trick.
At the end of 2019, there was only $69M in cash. That plus the PPP/ PSP (Cares Act, SBA loan, etc.) is the only cash available to run ZW in 2020. The way I see it they have 4 options: the owners listed on page 99 inject $M in cash, and/or there is a stock offering (unlikely--HRBR trades at $0.01-0.15 per share and is not listed on a major exchange), and/or they take out $M in loans from large banks, and/or ZW gets more money from the government.
I will add that the CEO got a $300K bonus in 2019 (page 97) for those losses. Please help bring this to the attention of the ALPA reps. If enough of us are saying it, folks will hopefully do something about it.