v3.25.1
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Mar. 31, 2025
FAIR VALUE MEASUREMENTS  
Schedule of asset retirement obligation liabilities measured at fair value on a non-recurring basis

March 31, 2025

    

Level 1

    

Level 2

    

Level 3

    

Total

Asset:

Equity facility derivative asset

$

$

$

1,596

$

1,596

Liability:

ARO liabilities

$

$

$

2,252,996

$

2,252,996

Embedded derivative liability

$

$

$

381,216

$

381,216

December 31, 2024

Level 1

    

Level 2

    

Level 3

    

Total

Asset:

Equity facility derivative asset

$

$

$

16,999

$

16,999

Liabilities:

ARO liabilities

$

$

$

2,198,064

$

2,198,064

Embedded derivative liability

$

$

$

309,181

$

309,181

Schedule of level 3 fair value measurements for the embedded derivatives

    

Equity Facility

 

Embedded

 

Embedded

Equity Facility

Embedded

Derivative Asset

Derivative Liability

Derivative Liability

Derivative Asset

Derivative Liability

    

March 31, 2025

    

March 31, 2025

    

January 15, 2025 (Initial Measurement)

    

December 6, 2024 (Initial Measurement)

    

December 6, 2024 (Initial Measurement)

Conversion price

$

$

10.00

$

10.00

$

$

10.00

Share price

$

1.14

$

1.14

$

3.00

$

9.88

$

9.88

Volatility

 

36.0

%

 

32.0

%

32.0

%

29.0

%

28.0

%

Probability of default

 

 

38.72

%

41.0

%

41.0

%

Risk-free rate

 

4.23

%

 

3.95

%

4.12

%

4.23

%

4.08

%

Dividend yield

 

 

Schedule of changes in the fair value of Level 3 embedded derivative liabilities and equity facility derivative asset

    

Embedded

    

Equity

Derivative

Facility

Liabilities

Derivative Asset

Fair value as of January 1, 2025

$

309,181

$

16,999

Initial fair value as of January 15, 2025

263,012

Change in valuation inputs or other assumptions

(190,977)

(15,403)

Fair value as of March 31, 2025

$

381,216

$

1,596