Quarterly report [Sections 13 or 15(d)]

RELATED PARTY TRANSACTIONS (Tables)

v3.25.2
RELATED PARTY TRANSACTIONS (Tables)
 6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The Company had the following related party transactions:
Three Months Ended June 30, Six Months Ended June 30, As of
2025 2024 2025 2024 June 30, 2025 (unaudited) December 31, 2024
Nature of transaction Related Party Expense Related Party Expense Related Party Payable
12% Second Lien Notes - interest expense and principal amount (1)
$ (780) $ (575) $ (1,447) $ (1,152) $ (25,920) $ (20,096)
Term Loans - interest expense and principal amount (2)
$ (489) $ —  $ (972) $ —  $ (16,000) $ (16,000)
(1)The Second Lien Notes payable and the related interest expense include amounts related to the Company’s Chief Executive Officer, as well as a significant investor. In February 2025, an entity affiliated with the Company’s Chief Executive Officer, as well as a significant investor, each purchased additional Second Lien Notes in the principal amount of US$3,719 and C$2,000 respectively, and also received 5,810,938 warrants and 2,199,688 warrants, respectively. Refer to Note 8 - Debt for more information.
(2)The Term Loans payable and the related interest expense include amounts related to the Company’s Chief Executive Officer, as well as a significant investor, who each participated as Term Loan lenders in the Company’s senior secured term loan refinancing completed in July 2024 in the principal amounts of $9,000 and $7,000 respectively, and also received 3,600,000 warrants and 2,800,000 warrants, respectively. Refer to Note 8 - Debt for more information.