v3.26.1
Derivative Liabilities (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value Measurement Inputs and Valuation Techniques
In measuring the embedded derivative liability, the Company used the following inputs:

June 30, 2026December 31, 2025
Conversion price (1)
$1.28 (2)
$1.21 (3)
Common Stock price
$1.25 (2)
$1.70 (3)
Contractual term to maturity (years)5.5 years6.0 years
Expected market volatility %170.0%165.0%
Risk-free interest rate4.2%3.8%
Traded WHLRL price, % of par316.3%350.0%
   (1) Represents the volume weighted average of the Company's closing Common Stock price for the 10 trading days
         preceding the valuation, less a discount of 45%.
   (2) Value as of June 30, 2026 and was not restated for any subsequent stock splits.
   (3) Value as of December 31, 2025 and was not restated for any subsequent stock splits.
Schedule of the Changes in Fair Value of the Company's Derivative Liabilities
The following table sets forth a summary of the changes in fair value of the Company's derivative liabilities, which include both the warrant and embedded derivative liabilities (in thousands):

Six Months Ended June 30, 2026Year Ended December 31, 2025
Balance at the beginning of period$7,243 $11,985 
Changes in fair value - Warrants(10)— 
Changes in fair value - Convertible Notes conversion features(4,186)(4,742)
Balance at end of period$3,047 $7,243