v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash, cash equivalents $ 1,096 $ 4,904
Restricted cash 3,715 3,274
Advance receivables, net 4,948 7,237
Prepaid expense 728 516
Loan commitment asset 3,719 6,710
Note receivable 1,706 0
Total current assets 16,525 23,447
Fixed assets, net 154,067 150,992
Operating lease right-of-use asset 18 46
Intangible assets, net 985 2,508
Goodwill 1,219 1,219
Other assets 1,162 151
TOTAL ASSETS 173,976 178,363
CURRENT LIABILITIES    
Accounts payable and accrued liabilities 7,302 6,248
Syndicate payable 3,231 4,356
Deferred consideration - current 270 214
Operating lease liabilities - current 15 40
Notes payable, net - current 2,622 2,722
Warrants and rights outstanding 3,719 8,230
Mortgage loan - current 0 73,625
Total current liabilities 19,371 97,586
Deferred consideration 39 185
Notes payable, net 38,761 34,620
Mortgage loan 77,588 0
Other non-current liabilities $ 291 $ 309
Other Liability, Noncurrent, Related Party [Extensible Enumeration] Related Party Related Party
Total liabilities $ 136,050 $ 132,700
Commitments and contingencies (Note 14)
MEZZANINE EQUITY    
Redeemable nonparticipating noncontrolling interest 8,462 8,462
STOCKHOLDERS’ EQUITY    
Common stock, par value $0.0001 per share; 500,000,000 shares authorized; 211,133,297 and 207,102,106 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 21 21
Paid-in capital 73,619 67,396
Stock subscription receivable 0 (521)
Accumulated deficit (71,639) (58,201)
Accumulated other comprehensive income 3 3
Nonparticipating noncontrolling interest 27,452 28,495
Total stockholders’ equity 29,464 37,201
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY 173,976 178,363
Related Party    
CURRENT ASSETS    
Other current assets 64 139
CURRENT LIABILITIES    
Other current liabilities 1,883 1,850
Nonrelated Party    
CURRENT ASSETS    
Other current assets 549 667
CURRENT LIABILITIES    
Other current liabilities 329 301
Series A Preferred Stock    
STOCKHOLDERS’ EQUITY    
Preferred stock 7 7
Series B Preferred Stock    
STOCKHOLDERS’ EQUITY    
Preferred stock $ 1 $ 1