v3.26.1
Business Combinations
 3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combinations

(5) Business Combinations

 

On December 31, 2024, the Company completed the acquisition of California Precious Metals LLC and Peeples, Inc. The Peeples acquisition was accounted for as a business combination under ASC 805. The California Precious Metals acquisition, which involved mineral leases without supporting infrastructure or business activity, was treated as an asset acquisition.

 

The Peeples acquisition was originally accounted for as a business combination under ASC 805; however, as described in Note 20, the Company is re-evaluating this treatment and expects to reclassify the transaction as an asset acquisition under ASC 805-50 in connection with its amended Form 10-K. The purchase price allocation for Peeples remains subject to refinement and will be updated in future reporting periods as further information becomes available.

 

No goodwill was recognized in connection with these acquisitions.

 

See Note 1 for additional information.