Annual report [Section 13 and 15(d), not S-K Item 405]

Fair value measurements

v3.25.1
Fair value measurements
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair value measurements

Note 11 – Fair value measurements

 

The carrying amounts of cash and cash equivalents, trade accounts receivable, notes receivable and other current assets, accounts payable and accrued expenses approximate fair value because of the short-term nature of these financial instruments. The carrying amounts of borrowings under credit facilities approximates fair value because of the short-term nature and variable interest rates on these instruments approximates current market rates.

 

The Company estimates the fair value of the term loan based on a discounted cash flow method. The carrying value of the term loan was based on an accounting entry where proceeds from the loan were first allocated to the warrants liabilities. The following table presents the carrying amount and fair value of the Company’s term note and line of credit by hierarchy level:

 

            December 31, 2024     December 31, 2023  
    Fair Value Hierarchy       Carrying Amount     Fair Value     Carrying Amount     Fair Value  
Term loan, net     Level 3   (1)   $     $     $ 2,881     $ 3,314  

 

(1) the fair value estimates are based on unobservable inputs reflecting management’s assumptions about inputs used in pricing the asset or liability