Annual report [Section 13 and 15(d), not S-K Item 405]

Note 24 - Fair Value Measurements

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Note 24 - Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

NOTE 24 – FAIR VALUE MEASUREMENTS

 

The following tables present the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 and 2023:

 

    (in thousands)  
   

December 31, 2024

  
   

Amount

    

Level 1

    

Level 2

    

Level 3

  

Financial Assets:

                                

Cash

   $ 1,040     $ 1,040     $ —     $ —  
                                 

Financial Liabilities:

                                

Derivative Liabilities

   $ 4,102     $ —     $ —     $ 4,102  

 

    (in thousands)  
   

December 31, 2023

  
   

Amount

    

Level 1

    

Level 2

    

Level 3

  

Financial Assets:

                                

Cash

   $ 416     $ 416     $ —     $ —  

Investments

   $ 2,067     $ 2,067     $ —     $ —  

 

There have been no transfers between fair value levels during the year ended  December 31, 2024 and 2023.

 
The fair value of cash and cash equivalents and investments is based on quoted prices in active markets for identical assets (Level 1).  Refer to “Refer to "Note 6 - Investments" for further information. The fair value of derivative liabilities is determined using valuation models which rely on unobservable inputs such volatility, correlations, and market assumptions that are based on management's judgment and estimates (Level 3). Refer to “ Note 14 – Derivative Liabilities” for assumptions used to value derivative liabilities.