v3.26.3
Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Fair Value Measurement [Abstract]  
Fair value measurements

Note 8. Fair value measurements

 

ASC 820 establishes a three-tier fair value hierarchy for measuring financial instruments, which prioritizes the inputs used in measuring fair value. These tiers include:

 

●Level 1, defined as observable inputs such as quoted prices in active markets;

 

●Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

 

●Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

 

   As of June 30, 2026   As of December 31, 2025   Fair     
USD’000  Carrying amount   Fair
value		   Carrying amount   Fair
value		   value
level		   Note
ref.		 
Recurring fair value measurements                        
Available-for-sale debt securities, noncurrent   128    128    129    129    3    20 
Investment, current   2,449    2,449    10,032    10,032    2    12 

 

In addition to the methods and assumptions we use to record the fair value of financial instruments as discussed in the Fair Value Measurements section above, we used the following methods and assumptions to estimate the fair value of our financial instruments:

 

-Available-for-sale debt securities, noncurrent - fair value remeasured as of reporting period, based on information available.

 

-Investment, current – consists of a managed investment account held with UBS Switzerland AG. Although the account is made up of a diversified, actively managed portfolio, including publicly traded equity securities, investment funds and exchange-traded funds, fixed-income instruments, structured products, and fiduciary call deposits and short-term cash balances, with fair value levels ranging from Level 1 to Level 3, fair value is remeasured as of reporting period, based on the statement of assets made available by UBS at the reporting date, which falls under Level 2.

 

The carrying amounts of accounts receivable, accounts payable, notes payable, and indebtedness to related parties approximate their fair values due to the short-term nature of these instruments. The carrying amount of bonds, mortgages and other long-term debt approximates fair value as the underlying interest rates are consistent with current market rates. These financial instruments are not measured at fair value on a recurring or nonrecurring basis and are accordingly not included in the fair value hierarchy table above; the fair value information above is provided solely in accordance with ASC 825-10-50-10.

 

Investments in SAFEs and equity securities without a readily determinable fair value are accounted for under the measurement alternative in ASC 321 (cost minus impairment) and are therefore not fair value measurements; see Note 23 for the related carrying amounts and impairment assessment.