Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.24.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Measurements [Abstract]  
Schedule of Fair Value on a Recurring Basis into the Fair Value Hierarchy The following table classifies the Company’s liabilities measured at fair value on a recurring basis into the fair value hierarchy as of December 31, 2022:
    Fair value measured at December 31, 2022  
    Total
carrying
value at
December 31,
2022		     Quoted
prices in
active
markets
 (Level 1)		     Significant
other
observable
inputs
(Level 2)		     Significant
unobservable
inputs
(Level 3)		  
Liabilities:                        
Convertible notes   $ 1,654      
-
      
-
       1,654  
Warrant liability   $ 972      
-
      
-
       972  
Schedule of Convertible Notes and Warrant Liability The following table provides the changes in fair value of the 2022 Notes and warrant liability (in thousands):
    Convertible
Notes		     Warrant
Liability		  
Balance at December 31, 2022   $ 1,654     $ 972  
Conversion of 2022 Notes     (516 )        
Issuance of 2023 Notes in connection with line of credit     2,000          
Change in fair value of 2022 Notes in connection with March waiver agreement     368          
Senior Secured Notes - reclass to fair value option     1,133          
Conversion of 2022 Notes into Series F in connection with exchange agreements     (243 )        
Conversion of 2022 Notes     (950 )        
Settlement in connection with line of credit     (1,747 )        
Issuance of 2nd 2023 Notes and 3rd 2023 Notes     350          
Repayment of line of credit, 2nd 2023 Notes and 3rd 2023 Notes     (600 )        
Settlement in connection with Senior Secured Notes     (1,107 )        
Warrants issued in connection with Senior Secured Notes             157  
Warrants issued in connection with line of credit             5,593  
Warrants issued in connection with inducement agreement             760  
Warrants issued in connection with February waiver agreement             711  
Fair value of warrants exercised             (759 )
Loss on extinguishment of warrant liability             504  
Warrants Issued in connection with Demand Notes to Series F exchange             140  
Warrants Issued in connection with Senior Secured Notes to Series F exchange             50  
Warrants Issued in connection with 2022 Notes to Series F exchange             639  
Warrants Issued in connection with Series D to Series F exchange             450  
Warrants Issued in connection with Series F-1             956  
Warrants Issued in connection with Series F-2             285  
Change in fair value     (342 )     (10,458 )
Balance at December 31, 2023   $
-
     $
-
  
Schedule of Significant Unobservable Inputs (Level 3 Inputs) A summary of significant unobservable inputs (Level 3 inputs) used in measuring warrants on the issuance dates and as of December 31, 2023 and December 31, 2022 is as follows:
    Series F /
    F-1 / F-2		   2022 Notes   Warrants -
Senior Secured  Note		   Warrants -
Series E -
Line of Credit		   December 31,
2022		  
Date   12/31/2023   12/31/2023   12/31/2023   12/31/2023   12/31/2022  
Dividend yield   0.0%   0.0%   0.0%   0.0%   0.0%  
Expected price volatility   55.0%   55.0%   55.0%   55.0%   48.7%  
Risk free interest rate   3.89%   3.92%   3.92%   3.92%   4.74%  
Expected term (in years)   4.5   4.1   4.0   4.1   0.8