v3.26.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 5,319 $ 8,599
Accounts receivable 3,406 5,613
Inventories 1,973 1,138
Prepaid expenses and other current assets 746 701
Total current assets 11,444 16,051
Property, plant, equipment and water programs, net 97,064 95,384
Long-term deposit/prepaid expenses 420 420
Goodwill 5,714 5,714
Right-of-use asset 3,535 3,394
Long-term restricted cash 2,759 2,759
Other assets 13,827 17,192
Total assets 134,763 140,914
Current liabilities:    
Accounts payable 2,214 3,783
Accrued liabilities 3,146 2,370
Current portion of long-term debt 7 51
Derivative liabilities 2,195 5,050
Dividend payable 1,265 1,265
Deferred revenue 638 305
Operating lease liabilities 394 364
Total current liabilities 9,859 13,188
Long-term debt, net 86,978 72,705
Long-term lease obligations with related party, net 29,446 27,967
Long-term operating lease liabilities 3,136 3,122
Deferred revenue 625 625
Other long-term liabilities 54 51
Total liabilities 130,098 117,658
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Common stock - $.01 par value; 125,000,000 shares authorized at June 30, 2026 and December 31, 2025; shares issued and outstanding – 84,161,245 at June 30, 2026 and 83,213,589 at December 31, 2025 840 830
Additional paid-in capital 716,025 714,616
Accumulated deficit (712,202) (692,192)
Total stockholders’ equity 4,665 23,256
Total liabilities and stockholders’ deficit 134,763 140,914
Series 1 Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock 1 1
Series A Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock $ 1 $ 1