Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2025

Commitments and Contingencies

Schedule of Additional Details of Office Space Lease

The table below provides additional details of the office space and vehicle leases presented in the unaudited condensed consolidated balance sheet as of September 30, 2025, and December 31, 2024:

	September 30,			December 31,
	2025			2024
(in thousands)	(unaudited)
Operating lease - right-of-use asset - office space	$	1,006		$	819
Operating lease - right-of-use asset - vehicles		56			117
Total	$	1,062		$	936
Operating lease liability, current		226			299
Operating lease liability, net of the current portion		918			686
Total	$	1,144		$	985
Weighted-average remaining life (years)		4.57			4.44
Weighted-average discount rate		24.07	%		20.75	%

Schedule of Undiscounted Cash Payment Obligations

The following table summarizes the undiscounted cash payment obligations for operating lease liability as of September 30, 2025, and December 31, 2024:

	September 30,			December 31,
	2025			2024
(in thousands)	(unaudited)
2025	$	449		$	455
2026		367			266
2027		376			233
2028		388			240
2029		365			247
2030		—			168
Total undiscounted operating lease payments		1,945			1,609
Imputed interest expenses		(801	)		(624	)
Total operating lease liability		1,144			985
Less: Operating lease liability, current		226			299
Operating lease liability, net of current portion	$	918		$	686

Schedule of Summarized Income Statement Information Using Equity Method

The summarized income statement information for the nine months ended September 30, 2025, of Magdalena is as follows:

	Nine Months Ended
	September 30,
	2025
(in thousands)	(unaudited)
Revenue	$
Operating expenses		(301	)
Loss before income tax		(301	)
Income tax expense		—
Net loss	$	(301	)
Net loss attributable to the Company	$	(120	)