Quarterly report pursuant to Section 13 or 15(d)

Fair Value (Tables)

v3.23.1
Fair Value (Tables)
3 Months Ended
Mar. 31, 2023
Convertible Debt [Member]  
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Schedule of reconciliation of fair values

Three Months Ended March 31,




2023

2022

Fair value balance at beginning of period 


$ 14,607,000

$ 17,305,000
Principal payments in cash and Common Stock

(6,314,457 )

(3,300,000 )
Change in fair value reported in the statements of operations 

155,457


1,433,000

Change in fair value reported in other comprehensive loss 



14,000

(101,000 )

Fair value balance at end of period


$ 8,462,000

$ 15,337,000

Schedule of fair value by using key inputs

Fair Value Assumptions - Convertible Notes

 

March 31, 2023

 

 

December 31, 2022

 

Face value principal payable

  

$

8,348,270

  

  

$

14,662,727

  

Original conversion price 

 

$

4.75

 

 

$

4.75

 

Value of Common Stock

 

$

0.80

 

 

$

0.69

 

Expected term (years)

 

 

1.6

 

 

 

1.8

 

Volatility

 

 

99

%

 

 

77

%

Market yield 

 

 

43.0
%

 

 

44.3 to 43.9

Risk free rate

 

 

4.2

%

 

 

4.4

%

Issue date

October 5, 2021


October 5, 2021
Maturity date

October 5, 2024


October 5, 2024
Private Warrant [Member]  
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Schedule of reconciliation of fair values

Three Months Ended March 31,

2023

2022

Fair value balance at beginning of period

$



$ 63,178

Change in fair value reported in the statements of operations

 



(18,051 )

Fair value balance at end of period

$



$ 45,127
Schedule of fair value by using key inputs

Fair Value Assumptions - Private Warrants

 

March 31, 2023

 

 

December 31, 2022

 

Number of Private Warrants 

  


225,635

  

  


225,635

  

Original conversion price

 

$

230.00

 

 

$

230.00

 

Value of Common Stock

 

$

0.80

 

 

$

0.69

 

Expected term (years)

 

 

1.21

 

 

 

1.46

 

Volatility

 

 

NM

%

 

 

NM

%

Risk free rate

 

 

NM

%

 

 

NM

%

Common Warrants and Underwriter Warrants [Member]  
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Schedule of fair value measurement unit offering common and underwriter warrants
Fair Value Assumptions - 2022 Common and Underwriter Warrants
July 5, 2022

Exercise price $ 4.60
Expected term (years)
5.0
Volatility
136.9 %