v3.25.2
Financial Instruments Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Liabilities Measured at Fair Value on Recurring Basis

The fair value hierarchy table for the reporting date noted is as follows:

 

  

Level-1

Inputs

  

Level-2

Inputs

   Level-3 Inputs   Total 
  

Fair Value Measurement on a Recurring Basis at Reporting

Date Using1

 
  

Level-1

Inputs

  

Level-2

Inputs

   Level-3 Inputs   Total 
June 30, 2025               
2024 Convertible Notes $   $   $25,300   $25,300 
Totals $   $   $25,300   $25,300 

 

  

Level-1

Inputs

  

Level-2

Inputs

   Level-3 Inputs   Total 
   Level-1 Inputs   Level-2 Inputs   Level-3 Inputs   Total 
December 31, 2024                    
2024 Convertible Notes $   $   $18,600   $18,600 
Totals $   $   $18,600   $18,600 

 

1There were no transfers between the respective Levels during the six months ended June 30, 2025.
Schedule of Fair Value Assumption Used

The estimated fair value of the 2024 Convertible Notes as of each June 30, 2025 and December 31, 2024 was computed using a Monte Carlo simulation of the present value of its cash flows using a synthetic credit rating analysis and a required rate-of-return, using the following assumptions:

 

   2024 Convertible Notes:
June 30, 2025
   2024 Convertible Notes:
December 31, 2024
 
Fair Value  $25,300   $18,600 
Face value principal payable  $21,975   $21,975 
Required rate of return   29.50%   29.00%
Conversion Price  $1.00   $1.00 
Value of common stock  $1.15   $0.819 
Expected term (years)   4.40    4.90 
Volatility   40.00%   40.00%
Risk free rate   3.69%   4.28%
Dividend yield   %   %