v3.26.1
Equity Holdings and Fair Value Disclosures (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]  
Schedule of Equity Holdings

   Fair Value Method   Cost Method   FG Merchant Partners, LLC   FGAC Investors LLC   FG Merger Investors LLC   Aldel Investors II LLC   Strong Global Entertainment   GreenFirst Forest Products Holdings LLC   Total 
   As of December 31, 2024 
           Equity Method 
   Fair Value Method   Cost Method   FG Merchant Partners, LLC   FGAC Investors LLC   FG Merger Investors LLC   Aldel Investors II LLC   Strong Global Entertainment   GreenFirst Forest Products Holdings LLC   Total 
Holdings in publicly traded companies:                                             
GreenFirst Forest Products common shares  $5,339   $-   $-   $-   $-   $-   $-   $467   $5,806 
Saltire common and preferred shares and warrants   -    -    969    4,334    -    -    27,227    -    32,530 
iCoreConnect common shares and warrants   112    -    67    -    52    -    -    -    231 
Oppfi warrants   312    -    -    -    -    -    -    -    312 
Aldel II founder shares and warrants   -    -    997    -    -    1,270    -    -    2,267 
Holdings in privately held companies:                                             
FG Communities common and preferred shares   -    2,250    2,041    -    -    -    -    -    4,291 
Firefly preferred shares   -    12,898    -    -    -    -    -    -    12,898 
Craveworthy common shares and note   -    200    1,457    -    -    -    -    -    1,657 
Other   -    81    -    -    -    -    -    -    81 
Total  $5,763   $15,429   $5,531   $4,334   $52   $1,270   $27,227   $467   $60,073 
Schedule of Financial Information for Investments Accounted Under the Equity Method

The summarized financial information presented below reflects the underlying financial information for Saltire, the Company’s sole holding accounted for under the equity method on December 31, 2025, (in thousands):

 

  

As of

September 30, 2025

  

As of

December 31, 2024

 
Current assets  $67,033   $9,225 
Long-term assets   53,023    5,688 
Current liabilities   88,616    21,410 
Long-term liabilities   53,126    4,105 
Shareholders’ equity   (21,686)   (10,602)

 

   Twelve Months Ended
September 30, 2025		 
     
Revenue  $32,683 
Gross profit   12,083 
Net loss   (7,595)
Schedule of Fair Value

The carrying value of fair value method holdings is determined based on the security’s trading price multiplied by the number of shares held. The following table summarizes the Company’s fair value method holdings as of December 31, 2024 (in thousands):

 

As of December 31, 2024  Cost Basis  

Gross

Unrealized

Gains

  

Gross

Unrealized

Losses

  

Carrying

Amount

 
GreenFirst common stock  $8,679   $-   $(3,340)  $5,339 
iCoreConnect common shares   8    104    -    112 
OppFi common stock and warrants   29    283    -    312 
Total fair value method holdings  $8,716   $387   $(3,340)  $5,763 
Schedule of Net Holdings Loss

Net holdings loss for the year ended December 31, 2025 and December 31, 2024 are as follows (in thousands):

 

    December 31, 2025     December 31, 2024  
    Year Ended  
    December 31, 2025     December 31, 2024  
Realized gain on common stock holdings   $ 1,056     $ 306  
Unrealized loss in value on common stock holdings     (2,546 )     (4,749 )
Loss on equity method holdings     (4,935 )     (11,294 )
Dividend income     754       -  
Other     168       1,062  
Net loss on equity holdings and other holdings   $ (5,503 )   $ (14,675 )

 
Schedule of Financial Instruments Measured on Recurring Basis at Fair Value

Financial instruments measured, on a recurring basis, at fair value in accordance with the guidance promulgated by the FASB as of December 31, 2025 and December 31, 2024 are as follows (in thousands):

 

As of December 31, 2025  Level 1   Level 2   Level 3   Total 
ETH digital assets  $119,384    -    -   $119,384 
Financial instrument fair value  $119,384   $     -   $     -   $119,384 

 

As of December 31, 2024  Level 1   Level 2   Level 3   Total 
OppFi warrants  $312   $-   $-   $312 
iCoreConnect common shares and warrants   112    -    -    112 
GreenFirst common stock   5,339    -    -    5,339 
Financial instrument fair value  $5,763   $     -   $       -   $5,763 
Fair Value, Inputs, Level 3 [Member]  
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]  
Schedule of Nonrecurring Level 3 Fair Value Measurements

The following table provides a rollforward of nonrecurring Level 3 fair value measurements for the year ended December 31, 2025 (in thousands):

 

Assets:     
Convertible notes     
Balance, December 31, 2024   248 
Increase in fair value of convertible note   - 
Repayments   (48)
Transfer to CVR Trust   (200)
Balance, December 31, 2025  $-