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Derivative Liabilities (Tables) | 9 Months Ended
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Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of changes in the fair value of Level 3 derivative liabilities that are measured at fair value on a recurring basis |
|  | For the Nine Months Ended September 30, 2021 |
|  | Warrants |  |  |  |  |  |  |
|  | Public |  |  | Private |  |  |  |  |  |  |  |  | Convertible |  |  |  |
|  | SPAC |  |  | SPAC |  |  | PIPE |  |  | Other |  |  | Notes |  |  | Total |
Balance as of January 1, 2021 |  | $ | 3,795,000 |  |  | $ | 256,275 |  |  | $ | - |  |  | $ | 165,895 |  |  | $ | 225,800 |  |  | $ | 4,442,970 |
Extinguishment of derivative liabilities in connection with conversion of debt [1] |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (591,203 | ) |  |  | (591,203 | )
Warrants issued in connection with the financing |  |  | - |  |  |  | - |  |  |  | 7,294,836 |  |  |  | - |  |  |  | - |  |  |  | 7,294,836 |
Change in fair value of derivative liabilities |  |  | 7,130,000 |  |  |  | 624,600 |  |  |  | 4,581,868 |  |  |  | 237,436 |  |  |  | 655,404 |  |  |  | 13,229,308 |
Balance as of March 31, 2021 |  |  | 10,925,000 |  |  |  | 880,875 |  |  |  | 11,876,704 |  |  |  | 403,331 |  |  |  | 290,001 |  |  |  | 24,375,911 |
Change in fair value of derivative liabilities |  |  | 10,350,000 |  |  |  | 629,325 |  |  |  | 7,712,770 |  |  |  | 55,025 |  |  |  | 409,300 |  |  |  | 19,156,420 |
Balance as of June 30, 2021 |  |  | 21,275,000 |  |  |  | 1,510,200 |  |  |  | 19,589,474 |  |  |  | 458,356 |  |  |  | 699,301 |  |  |  | 43,532,331 |
Warrants issued relates to Alpha settlement [1] |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 95,677 |  |  |  | - |  |  |  | 95,677 |
Extinguishment of derivative liabilities in connection with the Alpha settlement [1] |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (699,301 | ) |  |  | (699,301 | )
Change in fair value of derivative liabilities |  |  | (10,695,000 | ) |  |  | (831,825 | ) |  |  | (10,232,374 | ) |  |  | (284,192 | ) |  |  | - |  |  |  | (22,043,391 | )
Balance as of September 30, 2021 |  | $ | 10,580,000 |  |  | $ | 678,375 |  |  | $ | 9,357,100 |  |  | $ | 269,841 |  |  | $ | - |  |  | $ | 20,885,316 |
Schedule of option pricing models to derivatives assumed |
|  | September 30, 2021 |
Risk-free interest rate |  |  | 0.53% - 0.85% |
Expected term in years |  |  | 2.84 - 4.40 |
Expected volatility |  |  | 85% - 90% |
Expected dividends |  |  | 0% |
|  | February 23, 2021 |
Risk-free interest rate |  |  | 0.59% |
Expected term in years |  |  | 5.00 |
Expected volatility |  |  | 85% |
Expected dividends |  |  | 0% |
|  | July 29, 2021 |
Risk-free interest rate |  |  | 0.37% |
Expected term in years |  |  | 3.00 |
Expected volatility |  |  | 85% |
Expected dividends |  |  | 0% |
|  | January 15, 2021 to |
|  | February 5, 2021 |
Risk-free interest rate |  |  | 0.00% - 0.14% |
Expected term in years |  |  | 0.02 - 0.18 |
Expected volatility |  |  | 120% - 161% |
Expected dividends |  |  | 0% |
Schedule of warrants activity |
|  |  | Number of Warrants |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Life in Years |  |  | Intrinsic Value |
Outstanding, December 31, 2020 |  |  |  | 6,001,250 |  |  |  | 11.50 |  |  |  |  |  |  |  |  |
Issued |  |  |  | 5,152,658 |  |  |  | 6.23 |  |  |  |  |  |  |  |  |
Exercised |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Cancelled |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Expired |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding, September 30, 2021 |  |  |  | 11,153,908 |  |  | $ | 9.06 |  |  |  | 4.3 |  |  | $ | 1,059,516 |
Exercisable, September 30, 2021 |  |  |  | 11,153,908 |  |  | $ | 9.06 |  |  |  | 4.3 |  |  | $ | 1,059,516 |
Schedule of outstanding and exercisable warrants |
Warrants Outstanding |  |  | Warrants Exercisable |
|  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  |  | Average |  |  |  |
Exercise |  |  | Number of |  |  | Remaining |  |  | Number of |
Price |  |  | Shares |  |  | Life in Years |  |  | Shares |
$ | 5.00 |  |  |  | 2,564,000 |  |  |  | 4.4 |  |  |  | 2,564,000 |
$ | 5.28 |  |  |  | 63,658 |  |  |  | 3.6 |  |  |  | 63,658 |
$ | 7.07 |  |  |  | 25,000 |  |  |  | 2.8 |  |  |  | 25,000 |
$ | 7.50 |  |  |  | 2,500,000 |  |  |  | 4.9 |  |  |  | 2,500,000 |
$ | 11.50 |  |  |  | 6,001,250 |  |  |  | 4.1 |  |  |  | 6,001,250 |
|  |  |  |  | 11,153,908 |  |  |  | 4.3 |  |  |  | 11,153,908 |

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- Definition Tabular disclosure of all significant concentrations of risk, including credit risk and market risk, arising from all financial instruments (as defined), whether from an individual counterparty or groups of counterparties. The disclosure concerning concentrations of risk may consist of the following information: (1) for concentrations of credit risk disclosure may include: (a) information about the (shared) activity, region, or economic characteristic that identifies the concentration, (b) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity, (c) the policy of requiring collateral or other security to support financial instruments subject to credit risk, information about the entity's access to that collateral or other security, and the nature and a brief description of the collateral or other security supporting those financial instruments, and (d) the policy of entering into master netting arrangements to mitigate the credit risk of financial instruments, information about the arrangements for which the entity is a party, and a brief description of the terms of those arrangements, including the extent to which they would reduce the entity's maximum amount of loss due to credit risk and (2) for disclosure of quantitative information about the market risks of financial instruments that is consistent with the way the company manages or adjusts those risks, disclosure may include: (a) more details about current positions and perhaps activity during the period, (b) the hypothetical effects on comprehensive income (or net assets), or annual income, of several possible changes in market prices, (c) a gap analysis of interest rate re-pricing or maturity dates, (d) the duration of the financial instruments, (e) the entity's value at risk from derivatives and from other positions at the end of the reporting period and the average value at risk during the year, or (f) other ways of reporting quantitative information as internally developed. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13572-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13531-108611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13587-108611 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13537-108611 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 + Details
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