v3.26.1
Fair Value on a Recurring Basis:
6 Months Ended
Jun. 30, 2026
Fair Value on a Recurring Basis:  
Fair Value on a Recurring Basis:

Note 9 - Fair Value on a Recurring Basis:

The Company follows the guidance in ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. The estimated fair value of the warrant liability and bifurcated embedded derivatives represent Level 3 measurements. The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at June 30, 2026 and December 31, 2025 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

June 30, 

December 31, 

Description

  ​ ​ ​

Level

  ​ ​ ​

2026

  ​ ​ ​

2025

Liabilities:

 

  ​

 

  ​

 

  ​

Warrant liability (Note 6)

 

3

$

9,000

$

9,000

Derivative liability (Note 6)

 

3

$

2,769,000

$

2,114,000

The following table sets forth a summary of the change in the fair value of the Series B Warrant liability that is measured at fair value on a recurring basis:

Balance on December 31, 2025

  ​ ​ ​

$

9,000

Change in fair value of warrant liabilities

 

Balance on June 30, 2026

$

9,000

The following table sets forth a summary of the change in the fair value of the Series D Convertible Preferred Stock bifurcated embedded derivative liability that is measured at fair value on a recurring basis:

Balance on December 31, 2025

  ​ ​ ​

$

2,000

Change in fair value of derivative liability Series D Convertible Preferred Stock

(1,000)

Balance on June 30, 2026

$

1,000

The following table sets forth a summary of the change in the fair value of the Series E Convertible Preferred Stock bifurcated embedded derivative liability that is measured at fair value on a recurring basis:

Balance on December 31, 2025

  ​ ​ ​

$

2,112,000

Change in fair value of derivative liability Series E Convertible Preferred Stock

 

656,000

Balance on June 30, 2026

$

2,768,000