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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025


	June 30, 2025
	Level 1		Level 2		Level 3		Effect of Netting		Net Fair Value
Assets
Derivative contracts	$	—	$	1,348,294	$	—	$	(615,766)	$	732,528
Cash equivalents	$	261,512	$	—	$	—	$	—	$	261,512
Liabilities
Derivative contracts	$	—	$	615,766	$	—	$	(615,766)	$	—


	December 31, 2024
	Level 1		Level 2		Level 3		Effect of Netting		Net Fair Value
Assets
Derivative contracts	$	—	$	403,032	$	—	$	(403,032)	$	—
Cash equivalents	$	298,767	$	—	$	—	$	—	$	298,767
Liabilities
Derivative contracts	$	—	$	890,580	$	—	$	(403,032)	$	487,548

Schedule of non-recurring fair value measurements

The table below summarizes the fair value of the impaired assets at June 30, 2025.


			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable
	June 30,		Identical Assets		Inputs		Inputs
	2025		(Level 1)		(Level 2)		(Level 3)
Nonrecurring fair value measurement
Long-lived assets held and used	$	1,342,942	$	—	$	—	$	1,342,942
Total Nonrecurring fair value measurement	$	1,342,942	$	—	$	—	$	1,342,942

The table below summarizes the fair value of the impaired assets at December 31, 2024.


			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable
	December 31,		Identical Assets		Inputs		Inputs
	2024		(Level 1)		(Level 2)		(Level 3)
Nonrecurring fair value measurement
Long-lived assets held and used	$	492,253	$	—	$	—	$	492,253
Total Nonrecurring fair value measurement	$	492,253	$	—	$	—	$	492,253

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details