v3.26.1
Note 4 - Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
  

Fair Value Measurement

 
  

(in thousands)

 
  

Level 1

  

Level 2

  

Level 3

  

Total

 

Convertible and other notes measured at fair value

  -   -   2,098   2,098 

Warrant liability

  -   -   -   - 

Put Option Liability (Series D)

  -   -   62   62 

Total

 $-  $-  $2,160  $2,160 
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
  

Convertible

 
  

Loan Notes

 

Risk-free rate

  3.67%

Underlying stock price

 $- 

Expected volatility

  55%

Term (years)

  0.50 

Dividend yield

  0%
  

Warrant

 
  

Liability

 

Risk-free rate

  3.67%

Underlying stock price

 $- 

Expected volatility

  55%

Term (years)

  3.80 

Dividend yield

  0%
  Put 
  Option 
No. Shares (subject to Put Option)  1,150 
Expiration date March 27, 2027 
Risk free rate  3.68%
Discount for lack of marketability (DLOM)  12.5%
Put purchase price per share $1,000 
Probability of qualifying PIPE  50%
Probability of liquidation  10%
  

Series C

  

Series D

  

Series E

 

No Shares

  2,625   9,733   684 

Initial Conversion Price

 $0.10  $0.10  $0.10 

ALCE Closing Price

 $0.0011  $0.0011  $0.0011 

Holding Period (yrs)

  2.75   0.99   1.00 

Face Value of Preferred

 $1,000  $1,000  $1,000 

Risk-free rate

  3.81%  3.68%  3.68%

Volatility

  55.00%  55.00%  55.00%

Liquidation (probability)

  10.00%  10.00%  10.00%

DLOM

  12.5%  12.5%  12.5%
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
  

Convertible

 
  

Notes

  

OID

     
  

April 2024

  

Notes

  

Total

 
  

(in thousands)

 

Balance at December 31, 2025

 $565  $9,335  $9,900 

Movement in fair value

  67   2,296   2,363 

Series D Convertible Preferred shares issued for debt

  -   (5,755)  (5,755)

Series E Convertible Preferred shares issued for debt

  -   (519)  (519)

Gain on settlement of debt

  -   (5,257)  (5,257)

Balance at March 31, 2026

 $632  $100  $732 

New notes issued in period

  -   1,230   1,230 

FX movements

  -   (2)  (2)

Movement in fair value

  75   63   138 

Balance at June 30, 2026

 $707  $1,391  $2,098 
  

Warrants

         
  

Issued with

  

April 2025

     
  

Convertible Notes

  

Warrants

  

Total

 

Balance at December 31, 2025

 $-  $-   - 

Balance at March 31, 2026

 $-  $-  $- 

Balance at June 30, 2026

 $-  $-  $-