FAIR VALUE ACCOUNTING (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Measurements, Recurring and Nonrecurring


	September 30,
	2023		2022
Current assets	$	7,522	$	16,586
Non-current assets	$	31,717	$	17,437
Current liabilities	$	3,589	$	2,285
Non-current liabilities	$	319	$	—


	Twelve Months Ended September 30,
	2023		2022		2021
Loss from continuing operations	$	(8,817)	$	(23,103)	$	(4,253)
Net loss and net loss attributable to the entity	$	(8,902)	$	(17,890)	$	(4,570)

In accordance with Rule 4-08(g), summarized financial information for Virginia Energy is set forth below on a one-quarter lag. Virginia Energy prepares its financial statements in accordance with IFRS. The Company determined that no adjustments to Virginia Energy’s summarized financial information were necessary to address differences between IFRS and GAAP that materially impact the summarized financial information.


	January 23, 2023		September 30, 2022
Current assets	$	133	$	163
Non-current assets	$	4,253	$	3,753
Current liabilities	$	2	$	223
Non-current liabilities	$	2	$	2


	For the Period October 1, 2022 to January 23, 2023		Twelve Months Ended September 30,
			2022		2021
Loss from continuing operations, net loss and net loss attributable to the entity	$	(226)	$	(371)	$	(275)

The following tables set forth the fair value of the Company’s assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.


	Level 1		Level 2		Level 3		Total
December 31, 2023
Cash equivalents(1)	$	—	$	40,512	$	—	$	40,512

Marketable equity securities	25,554		24		—		25,578
Marketable debt securities	—		107,466		—		107,466


	$	25,554	$	148,002	$	—	$	173,556

December 31, 2022
Cash equivalents(1)	$	—	$	30,336	$	—	$	30,336
Investments accounted for at fair value	19,263		66		—		19,329
Marketable equity securities	1,033		34		—		1,067
Marketable debt securities	—		11,125		—		11,125


	$	20,296	$	41,561	$	—	$	61,857

(1) Cash and cash equivalents are comprised of U.S. Treasury Bills, Government Agency Bonds, U.S. Non-Redeemable Term Deposits and mutual funds purchased within three months of their maturity date.

Changes in Level 3 Fair Value Measurements

The following table is a reconciliation of the beginning and ending balance recorded for the Convertible Note classified as Level 3 in the fair value hierarchy:


Beginning balance, February 14, 2023	$	59,457
Principal redeemed and sale	(60,887)
Realized gain included in other income (loss)	1,430

Ending balance, December 31, 2023	$	—