v3.26.1
DERIVATIVE LIABILITIES
12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE LIABILITIES

NOTE 5. DERIVATIVE LIABILITIES

 

Derivative liabilities consist of common stock warrants with an exercise price in a different currency than the Company’s functional currency. The derivative liabilities are accounted for as separate liabilities measured at their respective fair values as follows:

       
Balance, December 31, 2023   $ 15,526  
Change in fair value of derivative liabilities     875  
Foreign exchange effect on derivative liability     (1,232 )
Balance, December 31, 2024     15,169  
Change in fair value of derivative liabilities     19,791  
Foreign exchange effect on derivative liability     1,064  
Balance, December 31, 2025   $ 36,024  

  

The fair value of the derivative liabilities has been determined using the Black-Scholes option pricing model using the following range of assumptions:

           
    2025   2024   2023
Volatility   645.7%   622.8%   451.9%
Expected life   6.6 to 8.13 years   7.6 to 9.13 years   0.13 to 9.42 years
Risk-free interest rate   2.57% - 3.42%   2.87% - 3.23%   3.09% - 3.88%
Dividend yield   0.00%   0.00%   0.00%