v3.26.1
Fair Value (Tables)
 3 Months Ended
Mar. 31, 2026
Short-Term Debt [Line Items]  
Schedule of Assets Subject to Measurement at Fair Value on Recurring Basis

The following table presents, as of March 31, 2026, the Company’s assets and liabilities subject to measurement at fair value on a recurring basis (in thousands):

 

   Fair Value Measurements as of March 31, 2026 
   Level 1   Level 2   Level 3   Total 
Assets:                
Cash equivalents  $14   $-   $-   $14 
Total Assets  $14   $-   $-   $14 
                     
Liabilities:                    
Convertible notes payable, at fair value  $-   $-   $773   $773 
Total Liabilities  $-   $-   $773   $773 

 

 

The following table presents as of December 31, 2025 the Company’s assets and liabilities subject to measurement at fair value on a recurring basis (in thousands):

 

   Fair Value Measurements as of December 31, 2025 
   Level 1   Level 2   Level 3   Total 
Assets:                
Cash equivalents  $739   $-   $-   $739 
Total Assets  $739   $-   $-   $739 
                     
Liabilities:                    
Convertible notes payable, at fair value  $-   $-   $660   $660 
Total Liabilities  $-   $-   $660   $660 
Schedule of Additional Information About the Financial Liabilities Subject To Measurement at Fair Value

The following table presents additional information about the Convertible Notes Payable subject to measurement at fair value on a recurring basis and warrant liabilities, for which the Company used significant unobservable inputs (Level 3) (in thousands):

 

  

Convertible
Notes Payable

  

Liability
Classified Warrants

 
Balance as of December 31, 2025  $660   $         - 
Fair value at issuance   487    - 
Conversion of convertible notes   (200)   - 
Interest expense   45      
Change in fair value   (219)   - 
Balance as of March 31, 2026  $773   $- 
AGP Convertible Note [Member]  
Short-Term Debt [Line Items]  
Schedule of Fair Value of Assumptions

The following table outlines the range of significant unobservable inputs used in calculating the fair value of the A.G.P. Convertible Note as of March 31, 2026, and December 31, 2025:

 

  

March 31, 2026

  

December 31, 2025

 
Stock Price  $5.10   $32 
Term (years)   0.15    0.40 
Corporate bond yield   16.2%   5.5%
Credit Spread   26.2%   26.2%
Probability of default   70%   70%
Recovery upon default   0%   0%
Volatility   185%   135%
Ascent Note [Member]  
Short-Term Debt [Line Items]  
Schedule of Fair Value of Assumptions

The following table outlines the range of significant unobservable inputs used in calculating the fair value of the Ascent Note as of March 31, 2026, and at inception of the Ascent Note on March 3, 2026:

 

   

March 31, 2026

    

March 3, 2026

  
Stock Price   $ 5.10     $ 15.50  
Term (years)     0.26       0.33  
Corporate bond yield     16.2 %     17.9 %
Credit Spread     17.1 %     17.1 %
Probability of default     70 %     70 %
Recovery upon default     20 %     20 %
Volatility     159 %     101 %