FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) |
3 Months Ended | ||
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Mar. 31, 2025 |
Mar. 31, 2024 |
Dec. 31, 2024 |
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Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Life settlement policies, at cost | $ 1,096,866 | $ 1,083,977 | |
Total change in fair value of debt | 3,362,103 | ||
(Gain) loss on change in fair value of debt | (3,362,103) | $ 2,712,627 | |
Available-for-sale securities, at fair value | 2,743,338 | 2,205,904 | |
Private Placement Warrant | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Warrants outstanding | $ 8,900,000 | $ 8,900,000 | |
Number of securities called by each warrant (in shares) | 1 | ||
Exercise price of warrants (in dollars per share) | $ 11.50 | ||
Discount rate | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Life settlement policies, measurement input | 18.00% | ||
Discount rate | Discounted cash flow method | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Life settlement policies, measurement input | 18.00% | 20.00% |
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- Definition Fair Value, Option, Change In Fair Value Gain (Loss) And Credit Risk, Gains (Losses) On Assets No definition available.
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- Definition Life Settlement Contracts, Measurement Input No definition available.
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- Definition Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Exercise price per share or per unit of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of securities into which each warrant or right may be converted. For example, but not limited to, each warrant may be converted into two shares. No definition available.
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition For each line item in the statement of financial position, the amounts of gains and losses from fair value changes included in earnings. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Carrying amount of life settlement contracts accounted for under the investment method. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Value of outstanding derivative securities that permit the holder the right to purchase securities (usually equity) from the issuer at a specified price. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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