Fair Value (Tables)
|
6 Months Ended |
Jun. 30, 2022 |
|---|
| Convertible Debt [Member] |
|
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |
|
| Schedule of reconciliation of fair values |
|
|
Three Months Ended June 30,
|
|
|
|
2022 |
|
|
2021
|
|
|
Fair value balance at beginning of period
|
|
$ |
15,337,000 |
|
|
$ |
7,705,000 |
|
| Payments on Convertible Notes |
|
|
(2,080,000 |
) |
|
|
(1,572,405 |
) |
| Change in fair value reported in the statements of operations |
|
|
294,000 |
|
|
|
16,405 |
|
|
Change in fair value reported in other comprehensive loss
|
|
|
(163,000 |
) |
|
|
3,000 |
|
|
Fair value balance at end of period
|
|
$ |
13,388,000 |
|
|
$ |
6,152,000
|
|
|
|
Six Months Ended June 30, |
|
|
|
2022 |
|
|
2021
|
|
| Fair value balance at beginning of period |
|
$ |
17,305,000 |
|
|
$ |
13,398,000 |
|
| Payments on Convertible Notes |
|
|
(5,380,000 |
) |
|
|
(9,269,677 |
) |
| Change in fair value reported in the statements of operations |
|
|
1,727,000 |
|
|
|
2,007,677 |
|
| Change in fair value reported in other comprehensive loss |
|
|
(264,000 |
) |
|
|
16,000 |
|
| Fair value balance at end of period |
|
$ |
13,388,000 |
|
|
$ |
6,152,000 |
|
|
| Schedule of fair value by using key inputs |
|
Fair Value Assumptions - Convertible Notes
|
|
June 30, 2022 |
|
|
December 31, 2021 |
|
|
Face value principal payable
|
|
$
|
14,620,000
|
|
|
$
|
20,000,000
|
|
|
Original conversion price (1)
|
|
$
|
0.3105
|
|
|
$
|
4.05
|
|
|
Value of Common Stock
|
|
$
|
0.14
|
|
|
$
|
1.75
|
|
|
Expected term (years)
|
|
|
2.3
|
|
|
|
2.8
|
|
|
Volatility
|
|
|
79
|
%
|
|
|
75
|
%
|
|
Market yield
|
|
|
43.4
|
% |
|
|
37.1
|
%
|
|
Risk free rate
|
|
|
3.0
|
%
|
|
|
1
|
%
|
| Issue date |
|
|
October 5, 2021 |
|
|
|
October 5, 2021 |
|
| Maturity date |
|
|
October 5, 2024 |
|
|
|
October 5, 2024 |
|
| (1) In accordance with the Convertible Notes Amendment, the conversion price has been lowered to $0.3105 per share from $4.05 per share. |
|
|
|
|
|
|
|
|
|
| Private Warrant [Member] |
|
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |
|
| Schedule of reconciliation of fair values |
|
Three Months Ended June 30, |
|
|
2022 |
|
|
2021 |
|
|
Fair value balance at beginning of period
|
$
|
45,127
|
|
|
$ |
487,372 |
|
|
Change in fair value reported in the statements of operations
|
|
(33,845
|
) |
|
|
(133,125 |
) |
|
Fair value balance at end of period
|
$
|
11,282
|
|
|
$ |
354,247 |
|
|
Six Months Ended June 30, |
|
|
2022 |
|
|
2021 |
|
| Fair value balance at beginning of period |
$ |
63,178 |
|
|
$ |
311,376 |
|
| Change in fair value reported in the statements of operations |
|
(51,896 |
) |
|
|
42,871 |
|
| Fair value balance at end of period |
$ |
11,282 |
|
|
$ |
354,247 |
|
|
| Schedule of fair value by using key inputs |
Fair Value Assumptions - Private Warrants
|
|
June 30, 2022
|
|
|
December 31, 2021
|
|
|
Number of Private Warrants
|
|
|
225,635
|
|
|
|
225,635
|
|
|
Original conversion price
|
|
$
|
11.50
|
|
|
$
|
11.50
|
|
|
Value of Common Stock
|
|
$
|
0.14
|
|
|
$
|
1.75
|
|
|
Expected term (years)
|
|
|
1.96
|
|
|
|
2.46
|
|
|
Volatility
|
|
|
107.0
|
%
|
|
|
93.9
|
%
|
|
Risk free rate
|
|
|
2.9
|
%
|
|
|
0.8
|
%
|
|