v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash $ 42,548 $ 2,824
Restricted cash 7,500 0
Accounts receivable, net of allowance for credit losses 1,253 730
Inventory 3 0
Prepaid expenses 19,794 34,987
Project deposits 2,400 0
Total current assets 73,498 38,541
Non-current assets:    
Goodwill 2,077 2,077
Intangible assets, net 1,257 1,316
Mineral Properties 50,532 50,532
Machinery and equipment, net 306 321
Operating lease right-of-use asset, net 789 602
Investments 2,000 0
Total non-current assets 56,961 54,848
Total assets 130,458 93,389
Current liabilities:    
Deposit Liability 7,500 0
Unearned subscriptions 630 0
Current portion of operating lease liabilities 278 2
Total current liabilities 14,573 7,154
Non-current liabilities:    
Contingent consideration 0 34,561
Deferred tax liability 13,644 13,644
Long-term debt 154 154
Long-term operating lease liabilities 518 536
Total non-current liabilities 14,316 48,895
Total liabilities 28,890 56,049
Mezzanine equity 0 1,506
Stockholders’ equity    
Preferred stock 3 0
Common stock 60 12
Additional paid in capital 289,348 116,946
Accumulated deficit (187,843) (81,125)
Total Stockholders’ equity 101,568 35,834
Total liabilities and Stockholders’ equity 130,458 93,389
Nonrelated Party    
Current liabilities:    
Accounts payable and accrued expenses 5,004 3,433
Notes payable 317 0
SAFE liability 0 1,695
Related Party    
Current liabilities:    
Accounts payable and accrued expenses 700 610
Notes payable 144 94
SAFE liability $ 0 $ 1,320