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INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2024

Investments, All Other Investments [Abstract]

SCHEDULE OF PROCEEDS RECEIVED, GROSS REALIZED GAINS AND LOSSES FROM SALE OF EQUITY SECURITIES

There were no sales of equity securities for three months ended September 30, 2024, nor the three- and nine-month periods ended September 30, 2023. Proceeds received, and the gross realized gains and losses from sale of equity securities, for the nine-month period ended September 30, 2024 are as follows:

 SCHEDULE OF PROCEEDS RECEIVED, GROSS REALIZED GAINS AND LOSSES FROM SALE OF EQUITY SECURITIES

		Equity securities, Gross proceeds from sales				Equity securities, Gross Realized Gains				Equity securities, Gross Realized Losses
		Gross proceeds from sales				Gross Realized Gains				Gross Realized Losses
		($ in thousands)
Nine Months Ended September 30, 2024
Equity securities		$	307			$	-			$	-

SCHEDULE OF OTHER INVESTMENTS

Other investments as of September 30, 2024 and December 31, 2023 consist of the following (in thousands):

 SCHEDULE OF OTHER INVESTMENTS

		September 30, 2024				December 31, 2023
Jet.AI. Series A-1 Preferred Shares		$	285			$	285
Jet.AI common stock (2022: Class B Ordinary Shares)			256				2,193
Total		$	541			$	2,478
Beginning of year		$	2,478			$	11,423
Unrealized loss on investment in affiliate			(1,937	)			(8,945	)
End of year		$	541			$	2,478

SCHEDULE OF FAIR VALUE OF ASSETS MEASURED ON RECURRING BASIS

 SCHEDULE OF FAIR VALUE OF ASSETS MEASURED ON RECURRING BASIS

		Fair Value Measurements Using
		(Level 1)				(Level 2)				(Level 3)				Total
As of September 30, 2024		($ in thousands)
Financial Assets:
Cash and cash equivalents		$	1,406			$	-			$	-			$	1,406
Restricted cash and cash equivalents		$	3,412			$	-			$	-			$	3,412
Other investments		$	256			$	-			$	285			$	541
Equity securities		$	185			$	-			$	-			$	185
Total		$	5,259			$	-			$	285			$	5,544

		Fair Value Measurements Using
		(Level 1)				(Level 2)				(Level 3)				Total
As of December 31, 2023		($ in thousands)
Financial Assets:
Cash and cash equivalents		$	495			$	-			$	-			$	495
Restricted cash and cash equivalents		$	3,250			$	-			$	-			$	3,250
Other investments		$	2,193			$	-			$	285			$	2,478
Equity securities		$	680			$	-			$	-			$	680
Total		$	6,618			$	-			$	285			$	6,903

SCHEDULE OF RECONCILIATION OF CHANGES IN FAIR VALUE

The following table provides a reconciliation of changes in fair value of the beginning and ending balances for the other investments classified as Level 3:

SCHEDULE OF RECONCILIATION OF CHANGES IN FAIR VALUE

		Other
		Investments
		(in thousands)
Fair value of Level 3 other investment at January 1, 2024		$	285
Investment in affiliate			-
Change in valuation inputs or other assumptions			-
Fair value of Level 3 other investment at September 30, 2024		$	285

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
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Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

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