v3.26.1
Property, Plant and Equipment, Net
 3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment, Net [Abstract]  
Property, Plant and Equipment, Net

Note 7 - Property, Plant and Equipment, Net

 

Details of property, plant and equipment, net as of March 31, 2026, consisted of the following:

 

in thousands  Useful
Lives		   March 31,
2026		 
Land   
n/a
   $2,942 
Buildings, structures and related equipment   20 to 40    2,192 
Machinery and equipment   5 to 11    1,564 
Vehicles   5 to 7    135 
Furniture and fixtures   5 to 11    268 
Construction in progress   
n/a
    151 
Tools and office equipment   5 to 11    305 
Property, plant, and equipment, gross        7,557 
Less: accumulated depreciation        (114)
Property, plant, and equipment, net       $7,443 

 

Total depreciation for the three months ended March 31, 2026 was $0.1 million. There was no property, plant and equipment, net at December 31, 2025, prior to the Business Combination.

 

As of March 31, 2026, the details of property, plant and equipment, net pledged as collateral is as follows:

 

in thousands  Net
Carrying
Value		   Pledged
Amount		   Creditor
Land, buildings, machinery and equipment  $5,830   $4,206   Industrial Bank of Korea
Land and buildings   417    228   Hana Bank