| Schedule of reconciliation of fair values |
|
Three Months Ended September 30,
|
|
|
2021 |
|
|
2020 |
|
|
Fair value balance at beginning of period
|
$
|
6,152,000
|
|
|
$ |
14,131,000 |
|
| Payments on Convertible Notes |
|
(2,344,226 |
) |
|
|
— |
|
| Change in fair value reported in the statements of operations |
|
23,227 |
|
|
|
(778,000 |
) |
|
Change in fair value reported in other comprehensive loss
|
|
3,000
|
|
|
|
70,000 |
|
|
Fair value balance at end of period
|
$
|
3,834,001
|
|
|
$ |
13,423,000 |
|
|
Nine Months Ended September 30,
|
|
|
2021 |
|
|
2020 |
|
|
Fair value balance at beginning of period or issue date (June 9, 2020)
|
$
|
13,398,000
|
|
|
$ |
14,960,000 |
|
| Payments on Convertible Notes |
|
(11,613,903 |
) |
|
|
— |
|
| Change in fair value reported in the statements of operations |
|
2,030,904 |
|
|
|
(1,544,000 |
) |
|
Change in fair value reported in other comprehensive loss
|
|
19,000
|
|
|
|
7,000 |
|
|
Fair value balance at end of period
|
$
|
3,834,001
|
|
|
$ |
13,423,000 |
|
|
| Schedule of fair value by using key inputs |
|
Fair Value Assumptions - Convertible Notes
|
|
September 30, 2021 |
|
|
December 31, 2020 |
|
|
Face value principal payable (in thousands)
|
|
$
|
3,558,824
|
|
|
$
|
15,172,272
|
|
|
Original conversion price
|
|
$
|
11.50
|
|
|
$
|
11.50
|
|
|
Value of Common Stock
|
|
$
|
2.82
|
|
|
$
|
3.24
|
|
|
Expected term (years)
|
|
|
0.1
|
|
|
|
2.3
|
|
|
Volatility
|
|
|
99
|
%
|
|
|
77
|
%
|
|
Market yield
|
|
|
|
25.1 |
% |
|
|
27.1% |
to 27.2
|
%
|
|
Risk free rate
|
|
|
0.1
|
%
|
|
|
0.1
|
%
|
|
| Schedule of reconciliation of fair values |
|
Three Months Ended September 30, |
|
|
2021 |
|
|
2020 |
|
|
Fair value balance at beginning of period
|
$
|
354,247
|
|
|
$ |
1,058,228 |
|
|
Change in fair value reported in the statements of operations
|
|
(194,046
|
) |
|
|
(762,646 |
) |
|
Fair value balance at end of period
|
$
|
160,201
|
|
|
$ |
295,582 |
|
|