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9. FAIR VALUE DISCLOSURES (Tables) | 3 Months Ended
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Mar. 31, 2021
Fair Value Disclosures [Abstract] |
Schedule of financial assets and liabilities at fair value | Financial assets and liabilities measured at fair value on a recurring basis were as follows:
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  |  |  |  |  |  | (In thousands) |  |  |  |  |
Assets as of March 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |
Equity securities at fair value |  | $ | 122,469 |  |  | $ | 57,851 |  |  | $ | – |
Total recurring fair value measurements as of March 31, 2021 |  | $ | 122,469 |  |  | $ | 57,851 |  |  | $ | – |
Assets as of December 31, 2020: |  |  |  |  |  |  |  |  |  |  |  |
Equity securities at fair value |  | $ | 109,103 |  |  | $ | – |  |  | $ | – |
Investment at fair value - warrants |  |  | – |  |  |  | 2,752 |  |  |  | – |
Total recurring fair value measurements as of December 31, 2020 |  | $ | 109,103 |  |  | $ | 2,752 |  |  | $ | – |
Liabilities as of March 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |
Series A warrants |  | $ | – |  |  | $ | – |  |  | $ | 18,243 |
Series B warrants |  |  | – |  |  |  | – |  |  |  | 225,956 |
Embedded derivative liabilities |  |  | – |  |  |  | – |  |  |  | 40,419 |
Total liabilities as of March 31, 2021 |  | $ | – |  |  | $ | – |  |  | $ | 284,618 |
Liabilities as of December 31, 2020: |  |  |  |  |  |  |  |  |  |  |  |
Series A warrants |  | $ | – |  |  | $ | 6,640 |  |  | $ | – |
Series B warrants |  |  | – |  |  |  | – |  |  |  | 52,341 |
Embedded derivative liabilities |  |  | – |  |  |  | – |  |  |  | 26,728 |
Total liabilities as of December 31, 2020 |  | $ | – |  |  | $ | 6,640 |  |  | $ | 79,069 |
Schedule of changes in fair value Level 3 liabilities | The following table sets forth a summary of the changes in the estimated fair value of the Company’s Level 3 liabilities, which are measured at fair value on a recurring basis:
|  | Series A Warrants Liability |  |  | Series A Preferred Stock Embedded Derivative Liability |  |  | Series B Warrants Liability |
|  |  |  |  | (In thousands) |  |  |  |
Opening balance as of January 1, 2021 |  | $ | – |  |  | $ | 26,728 |  |  | $ | 52,341 |
Transfers into Level 3 |  |  | 6,640 |  |  |  | – |  |  |  | – |
Remeasurement to fair value |  |  | 11,603 |  |  |  | 13,691 |  |  |  | 173,615 |
Balance as of March 31, 2021 |  | $ | 18,243 |  |  | $ | 40,419 |  |  | $ | 225,956 |

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + 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 (b) -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 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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