Quarterly report [Sections 13 or 15(d)]

Note 21 - Fair Value Measurements

v3.25.1
Note 21 - Fair Value Measurements
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

NOTE 21 - 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:

 

   

(in thousands)

  
   

March 31, 2025

  
   

Amount

    

Level 1

    

Level 2

    

Level 3

  

Financial Assets:

                                

Cash

   $ 430     $ 430     $ —     $ —  
                                 

Financial Liabilities:

                                

Derivative Liabilities

   $ 3,602     $ —     $ —     $ 3,602  

 

   

(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  

 

There have been no transfers between fair value levels during the three months ended March 31, 2025.
 
The fair value of cash and cash equivalents is based on quoted prices in active markets for identical assets (Level 1). 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.