Business Organization and Nature of Operations (Tables)

3 Months Ended

Mar. 31, 2026


	As of
	March 31, 2026			December 31, 2025
	$’000			$’000
Cash (includes $0.27 million of restricted cash as of March 31, 2026 and December 31, 2025)		679			653
Accounts Receivable, net		—			383
Other current assets⁽¹⁾		1,697			1,721
Total current assets		2,376			2,757
Accounts payable and accrued expenses		48,961			47,335
Notes payable, net		11,072			10,196
Other current liabilities⁽²⁾		94			27
Total current liabilities		60,127			57,558
Working capital⁽³⁾		(57,751	)		(54,801	)
Current ratio⁽⁴⁾		0.04			0.05

(1) Consists of VAT, prepaid expenses, and current notes receivable.

(2) Consists of Operating lease liability and other current liabilities.

(3) Working Capital is defined as Total current assets less Total current liabilities

(4) Current ratio is defined as Total current assets divided by Total current liabilities