SIF contribution liability (Tables)
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6 Months Ended |
12 Months Ended |
Jun. 30, 2026 |
Dec. 31, 2025 |
| SIF contribution liability |
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| Schedule of activity of convertible notes |
| | | | | | | | Convertible Notes Continuity | | Total | Balance, January 1, 2025 | | $ | 21,412 | Accrued interest | | | 909 | Gain on the change in fair value of Convertible Notes | | | 508 | Change in fair value attributable to changes in credit risk | | | (57) | Foreign currency translation adjustment | | | 1,137 | Balance, June 30, 2025 | | $ | 23,909 |
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| Schedule of Warrant activity |
| | | | | | | | | | | | | | Number | | Exercise Price | Warrants outstanding December 31, 2024 | | 15,191,077 | | $ | — | Issuance of SIF Warrants | | 5,918,058 | | | — | Warrants outstanding December 31, 2025 | | 21,109,135 | | $ | — | Issuance of SIF Warrants | | 1,048,211 | | | — | Preferred Share Warrants | | 30,918,673 | | | — | Warrants outstanding, June 30, 2026 | | 53,076,019 | | $ | — |
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| | | | | | | | | | | | | | Class B Common | | | Number | | Exercise Price | Warrants outstanding December 31, 2023 | | 11,090,146 | | $ | — | Issuance of SIF Warrants | | 4,100,931 | | | — | Warrants outstanding December 31, 2024 | | 15,191,077 | | $ | — | Issuance of SIF Warrants | | 5,918,058 | | | — | Warrants outstanding, December 31, 2025 | | 21,109,135 | | $ | — |
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| SIF contribution liability |
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| SIF contribution liability |
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| Schedule of activity of convertible notes |
| | | | | | | | | | | | | | | | | | | | | | Warrant obligation | | Funding liability | | Total | Balance, January 1, 2025 | | $ | 1,553 | | $ | 14,128 | | $ | 15,681 | SIF Warrant obligation | | | 4,570 | | | — | | | 4,570 | Issuance of SIF Warrants | | | (5,494) | | | 5,494 | | | — | Change in fair value | | | 548 | | | 6,773 | | | 7,321 | Foreign currency translation | | | 180 | | | 617 | | | 797 | Balance, December 31, 2025 | | | 1,357 | | | 27,012 | | | 28,369 | SIF Warrant obligation | | | 3,624 | | | — | | | 3,624 | Issuance of SIF Warrants | | | (5,008) | | | 5,008 | | | — | Change in fair value | | | 184 | | | 57,858 | | | 58,042 | Foreign currency translation | | | (157) | | | (2,461) | | | (2,618) | Balance, June 30, 2026 | | $ | — | | $ | 87,417 | | $ | 87,417 |
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| | | | | | | | | | | | | | | | | | | | | | Warrant | | Funding | | | | | | obligation | | liability | | Total | Balance, January 1, 2024 | | $ | 3,802 | | $ | 10,314 | | $ | 14,116 | SIF Warrant obligation | | | 1,548 | | | — | | | 1,548 | Issuance of SIF Warrants | | | (3,789) | | | 3,789 | | | — | Change in fair value | | | 182 | | | 1,040 | | | 1,222 | Foreign currency translation | | | (190) | | | (1,015) | | | (1,205) | Balance, December 31, 2024 | | | 1,553 | | | 14,128 | | | 15,681 | SIF Warrant obligation | | | 4,570 | | | — | | | 4,570 | Issuance of SIF Warrants | | | (5,494) | | | 5,494 | | | — | Change in fair value | | | 548 | | | 6,773 | | | 7,321 | Foreign currency translation | | | 180 | | | 617 | | | 797 | Balance, December 31, 2025 | | $ | 1,357 | | $ | 27,012 | | $ | 28,369 |
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| Schedule of assumptions used for calculation of convertible note |
| | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | Amount funded (CAD) | | $ | 74,275 | | $ | 69,275 | | Market debt recovery rate | | | 14 – 28 | % | | 14 – 28 | % | Risk-adjusted discount rate | | | 13 – 20 | % | | 13 – 20 | % |
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| | | | | | | | | | | | | | | | | | December 31, | | December 31, | | | | 2025 | | 2024 | | Amount funded | | $ | 50,544 | | $ | 41,113 | | Term (years) | | | 0.25 | | | 0.3 | | Market debt recovery rate | | | 14 – 28 | % | | 14 – 28 | % | Risk-adjusted discount rate | | | 13 – 20 | % | | 15 – 23 | % |
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