Fair Value (Tables)
|
9 Months Ended |
Sep. 30, 2022 |
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 |
% |
|
Convertible Debt [Member] |
|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |
|
Schedule of reconciliation of fair values |
|
|
Three Months Ended September 30,
|
|
|
|
2022 |
|
|
2021
|
|
Fair value balance at beginning of period
|
|
$ |
13,388,000 |
|
|
$ |
6,152,000 |
|
Payments of principal |
|
|
— |
|
|
|
(2,344,226 |
) |
Change in fair value reported in the statements of operations |
|
|
1,113,000 |
|
|
|
23,227 |
|
Change in fair value reported in other comprehensive loss
|
|
|
(26,000 |
) |
|
|
3,000 |
|
Fair value balance at end of period
|
|
$ |
14,475,000 |
|
|
$ |
3,834,001
|
|
|
|
Nine Months Ended September 30, |
|
|
|
2022 |
|
|
2021
|
|
Fair value balance at beginning of period |
|
$ |
17,305,000 |
|
|
$ |
13,398,000 |
|
Payments of principal |
|
|
(5,380,000 |
) |
|
|
(11,613,903 |
) |
Change in fair value reported in the statements of operations |
|
|
2,840,000 |
|
|
|
2,030,904 |
|
Change in fair value reported in other comprehensive loss |
|
|
(290,000 |
) |
|
|
19,000 |
|
Fair value balance at end of period |
|
$ |
14,475,000 |
|
|
$ |
3,834,001 |
|
|
Schedule of fair value by using key inputs |
Fair Value Assumptions - Convertible Notes
|
|
September 30, 2022 |
|
|
December 31, 2021 |
|
Face value principal payable
|
|
$
|
14,660,000
|
|
|
$
|
20,000,000
|
|
Original conversion price (1)
|
|
$
|
6.2100
|
|
|
$
|
81.00
|
|
Value of Common Stock
|
|
$
|
1.80
|
|
|
$
|
35.00
|
|
Expected term (years)
|
|
|
2.0
|
|
|
|
2.8
|
|
Volatility
|
|
|
92
|
%
|
|
|
75
|
%
|
Market yield
|
|
|
45.3
|
% |
|
|
37.1
|
%
|
Risk free rate
|
|
|
4.2
|
%
|
|
|
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 was lowered to $6.21 per share from $81.00 per share through October 4, 2022 (see Note 10).
|
Private Warrant [Member] |
|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |
|
Schedule of reconciliation of fair values |
|
Three Months Ended September 30, |
|
|
2022 |
|
|
2021 |
|
Fair value balance at beginning of period
|
$
|
11,282
|
|
|
$ |
354,247 |
|
Change in fair value reported in the statements of operations
|
|
(2,257
|
) |
|
|
(194,046 |
) |
Fair value balance at end of period
|
$
|
9,025
|
|
|
$ |
160,201 |
|
|
Nine Months Ended September 30, |
|
|
2022 |
|
|
2021 |
|
Fair value balance at beginning of period |
$ |
63,178 |
|
|
$ |
311,376 |
|
Change in fair value reported in the statements of operations |
|
(54,153 |
) |
|
|
(151,175 |
)
|
Fair value balance at end of period |
$ |
9,025 |
|
|
$ |
160,201 |
|
|
Schedule of fair value by using key inputs |
Fair Value Assumptions - Private Warrants
|
|
September 30, 2022
|
|
|
December 31, 2021
|
|
Number of Private Warrants
|
|
|
225,635
|
|
|
|
225,635
|
|
Original conversion price
|
|
$
|
230.00
|
|
|
$
|
230.00
|
|
Value of Common Stock
|
|
$
|
1.80
|
|
|
$
|
35.00
|
|
Expected term (years)
|
|
|
1.71
|
|
|
|
2.46
|
|
Volatility
|
|
|
87.6
|
%
|
|
|
85.8
|
%
|
Risk free rate
|
|
|
4.1
|
%
|
|
|
0.8
|
%
|
|