Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS

v3.24.1
FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The following table provides the fair value measurement hierarchy of the Company’s assets and liabilities, except for those assets and liabilities that are short term in nature and approximate the fair values, as of the periods presented:
Level 1
Level 2
Level 3
  
Total
As of December 31, 2023
Assets:
Investment – Cansativa —  —  —  — 
Total Assets $ —  $ —  $ —  $ — 
Liabilities:
Loans and borrowings —  1,218  —  1,218 
Total Liabilities $ —  $ 1,218  $ —  $ 1,218 
As of December 31, 2022
Assets:
Investment – Cansativa —  —  5,679  5,679 
Total Assets $ —  $ —  $ 5,679  $ 5,679 
Liabilities:
Loans and borrowings $ —  $ 1,530  $ —  $ 1,530 
Warrant Liability —  —  113  $ 113 
Total Liabilities $ —  $ 1,530  $ 113  $ 1,643 
Investment – Cansativa

Our investment in Cansativa’s equity securities was fully divested during the three months ended December 31, 2023. Please refer to Note 7.
The following table provides a summary of changes in fair value of the Company’s Level 3 investments for the year ended December 31, 2023:

Level 3
Balance, December 31, 2022 $ 5,679 
Proceeds from sale of investment $ (1,863)
Loss on sale of investment $ (3,738)
Loss due to foreign exchange fluctuation $ (78)
Balance, December 31, 2023 $ — 

During the years ended December 31, 2023 and December 31, 2022, there were no transfers between fair value measurement levels.