SUBSEQUENT EVENTS |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | 17. SUBSEQUENT EVENTS
From April 1, 2026 to May 14, 2026, the Company repurchased an additional common shares in the open market for a total cost of $88.5 thousand pursuant to the Repurchase Program.
As discussed in Note 1, “Nature of Operations, Business Overview, “ on April 6, 2026, the Company announced the execution of a Front End Engineering & Design (“FEED”) proposal for the development of a 10 megawatt (MW) artificial intelligence / high performance compute (“AI/HPC”) Micro-Grid Data Center at the 4-31 Battery site in Alberta, Canada. On April 20, 2026, the Company executed a letter of intent with BlueFlare Energy Solutions Inc. (“BlueFlare”), an Alberta-based infrastructure developer, for the development of powered land capable of supporting a 10 MW AI/HPC micro-grid data center in Alberta, Canada. The Company also engaged BlueFlare as the infrastructure development partner for the project, and on May 6, 2026, ASCENT Consulting Ltd. was selected to lead engineering and design services for the Alberta site.
As discussed in Note 1, “Nature of Operations, NASDAQ Compliance,” the Company presented its appeal to the Hearing Panel (the “Panel”), and the hearing was held on April 21, 2026. On May 8, 2026, the Company received from the Panel an exception to cure its listing deficiencies and provides for the continued listing on The Nasdaq Stock Market subject to certain conditions. The conditions include, among other things, that the Company must demonstrate compliance with the minimum bid price of $ per share for a minimum of 10 consecutive trading days on or before July 6, 2026. The Company plans to complete a reverse stock split (the “RSS”) to cure the deficiency and will seek approval for the RSS at the annual shareholder meeting on May 29, 2026. |