v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Mar. 31, 2026
FAIR VALUE MEASUREMENTS  
Schedule of fair value measurements on recurring and non-recurring basis

March 31, 2026

(thousands of dollars)

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Total

Current assets

 

  ​

 

  ​

 

  ​

 

  ​

Cash equivalent:

Money market account

$

41,260

$

$

$

41,260

Current liabilities

 

  ​

 

  ​

 

  ​

 

  ​

Series A-1 Convertible Notes

(1,602)

(1,602)

Series B-1 Convertible Notes

(2,106)

(2,106)

Total current assets (liabilities), net recorded at fair value

$

41,260

$

$

(3,708)

$

37,552

December 31, 2025

(thousands of dollars)

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Total

Current assets

 

  ​

 

  ​

 

  ​

 

  ​

Cash equivalent:

Money market account

$

48,395

$

$

$

48,395

Current liabilities

 

  ​

 

  ​

 

  ​

 

  ​

Series A-1 Convertible Notes

(1,848)

(1,848)

Series B-1 Convertible Notes

(4,125)

(4,125)

Total current assets (liabilities), net recorded at fair value

$

48,395

$

$

(5,973)

$

42,422

Schedule of estimated fair value of the Convertible Notes

March 31, 2026

  ​ ​ ​

Series A-1 Convertible Notes

  ​ ​ ​

Series B-1 Convertible Notes

Expected volatility

101.0%

99.2%

Expected dividend rate

Risk-free interest rate

3.70%

3.72%

December 31, 2025

  ​ ​ ​

Series A-1 Convertible Notes

  ​ ​ ​

Series B-1 Convertible Notes

Expected volatility

104.2%

99.6%

Expected dividend rate

Risk-free interest rate

3.48%

3.47%

Schedule of the net carrying amounts of the liability

Balances,

For the Three Months Ended March 31, 2026

Balances,

(thousands of dollars)

December 31, 2025

Conversions

Change in Fair Value

March 31, 2026

Series A-1 Convertible Notes

$

(1,848)

$

$

246

$

(1,602)

Series B-1 Convertible Notes

(4,125)

1,615

404

(2,106)

Total

$

(5,973)

$

1,615

$

650

$

(3,708)