so, for an uneducated guy like me, tell me how the company would be worth so little and still drive such a ( in appearance) strong business?

The parent company is the stock, they went public under a SPAC (lots of hype, crazy valuations) so Ruiz became instant rich, billionaire whatever. Buys mansions, Cigarette company, helicopter/737 jet whatever. Those things have liquidity and he can sell/lease them as he needs cash or in the case of CRT hopefully it throws off some cash (income). The core company was supposedly holding 3 trillion in medical debt and they had some scheme to get paid. Some hedge fund type guys jumped on the bandwagon believing the hype but the debt collection business hasn't collected much. It will likely end with bankruptcy, investors lose everything and management will retain their "assets" paid for when the stock was hot.

This was a departure of one of the bigger investors:
Billionaire Sternlicht Bows Out From Cano Health, Skewers Deals With John Ruiz | Miami New Times

And Ruiz will walk away smiling.

John Ruiz’s LifeWallet admits ‘substantial doubt’ about future | Miami Herald

University of Miami booster John H. Ruiz’s insurance claims company LifeWallet told investors Wednesday that there is “substantial doubt” about its ability to continue operating. The admission came as the company reported that it had brought in just over $300,000 in revenue between March and June from its primary business of collecting reimbursement for wrongly paid insurance claims.

MSP Recovery, Inc. (LIFW) Stock Price, News, Quote & History - Yahoo Finance

18 cents

So you could trade 4 shares for one US postage stamp.

In more bad news, Lionheart Capital dumped money into the BurgerFi chain and that is in bankruptcy too: It was also a SPAC leveraged deal

BurgerFi Vacates Four South Florida Restaurants And HQ (therealdeal.com)BurgerFi, led by CEO Carl Bachmann, filed for Chapter 11 protection in Miami federal bankruptcy court on Sept. 11. In its petition, BurgerFi estimated the company had between $50 million to $100 million in assets, and an estimated debt of between $100 million and $500 million owed to 50 creditors.

The filing also shows that a few prominent South Florida real estate developers and investors own a significant amount of stock in BurgerFi. Ophir Sternberg’s Miami-based Lionheart Capital owns 1.1 million shares, Miami Worldcenter master developer Art Falcone owns 94,430 shares and Pebb Capital Chairman Todd Rosenberg owns 28,302 shares, a list of equity holders states.

A 400 million dollar window for the debt?

who do they think they are? the government?

Hey 300-400 million to our government isn’t enough for our respected leaders to raise an eyebrow. They like Billions of dollars unaccounted for.

Hovering around 10 cents but still listed

https://finance.yahoo.com/quote/LIFW/