FAIR VALUE MEASUREMENTS |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| FAIR VALUE MEASUREMENTS | |
| FAIR VALUE MEASUREMENTS | NOTE 5. - FAIR VALUE MEASUREMENTS Fair value measurement standards apply to certain financial assets and liabilities that are measured at fair value on a recurring basis (each reporting period). The Company does not have any non-financial assets or liabilities that are measured at fair value on a recurring basis. Warrants During 2024, the Company issued the Omnia 2024 warrants to its former subordinated lender in connection with the extinguishment of amounts outstanding under the former Omnia subordinated note. The Omnia 2024 contained a put provision and were previously measured at fair value, resulting in changes in warrant liability fair value being recorded as Other operating expense, net. For the six-months ended June 30, 2025, the Company recorded $162 loss on change in fair value of warrant liability. The Omnia 2024 warrants were subsequently exercised on September 29, 2025. The Omnia 2024 warrants were measured at fair value using certain estimated factors which are classified within Level 3 of the valuation hierarchy. Significant unobservable inputs that were used in the fair value measurement of the Company’s warrants include the volatility factor and contingent put option. Significant increases or decreases in the volatility factor would have resulted in a significantly higher or lower fair value measurement. Additionally, a change in probability regarding the put option would have resulted in a significantly higher or lower fair value measurement. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Fair value standards also apply to certain assets and liabilities that are measured at fair value on a nonrecurring basis. During the three and six months ended June 30, 2026 and 2025, the Company did not have any financial assets or liabilities measured at fair value on a non-recurring basis. |