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NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
SCHEDULE OF EFFECTS OF THE RESTATEMENT TO AMOUNTS IN THE PREVIOUSLY REPORTED CONSOLIDATED FINANCIAL STATEMENTS

The following tables present the effects of the correction of the prior period error to the condensed consolidated statement of operations and comprehensive loss (in thousands, except for per share data):

             
   For the three months ended June 30, 2022 
Condensed Consolidated Statement of Operations and Comprehensive Loss  As Reported   Adjustment   As Revised 
             
Change in fair value of warrant liabilities  $—   $4,198   $4,198 
Net loss  $(8,295)  $4,198   $(4,097)
Net loss attributable to Common Shareholders  $(12,077)  $4,198   $(7,879)
Basic and diluted loss per common share  $(2.08)  $0.72   $(1.36)
Comprehensive loss  $(12,081)  $4,198   $(7,883)

 

 

             
   For the six months ended June 30, 2022 
Condensed Consolidated Statement of Operations and Comprehensive Loss  As Reported   Adjustment   As Revised 
             
Change in fair value of warrant liabilities  $—   $2,945   $2,945 
Net loss  $(29,086)  $2,945   $(26,141)
Net loss attributable to Common Shareholders  $(32,868)  $2,945   $(29,923)
Basic and diluted loss per common share  $(5.67)  $0.51   $(5.16)
Comprehensive loss  $(32,875)  $2,945   $(29,930)

 

The following tables present the effects of the correction of the prior period error to the condensed consolidated cash flow statement (in thousands):

 

   For the six months ended June 30, 2022 
Condensed Consolidated Cash Flow Statement  As Reported   Adjustment   As Revised 
             
Net loss  $(29,086)  $2,945   $(26,141)
Adjustments to reconcile net loss to cash used in operating activities:               
Change in fair value of warrant liabilities  $—   $(2,945)  $(2,945)
Net cash provided by operating activities  $(22,700)  $—   $(22,700)

 

The following tables present the effects of the correction of the prior period error to the condensed consolidated statement of stockholders’ equity (in thousands):

 

   As of June 30, 2022 
Condensed Consolidated Statement of Stockholders’ Equity  As Reported   Adjustment   As Revised 
             
Additional paid-in capital, December 31, 2021  $705,570   $(9,007)  $696,563 
Total stockholders’ equity, December 31, 2021  $51,375   $(9,007)  $42,368 
Additional paid-in capital, March 31, 2022  $706,433   $(9,007)  $697,426 
Additional paid-in capital, March 31, 2022  $31,443   $(10,260)  $21,183 
Net loss  $(29,086)  $2,945   $(26,141)
Additional paid-in capital, June 30, 2022  $703,379   $(9,007)  $694,372 
Total stockholders’ equity, June 30, 2022  $20,086   $(6,062)  $14,024 
SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE

  

For the three and six months ended June 30,

 
   2023   2022 
         
Stock options   230,723    265,411 
Restricted stock   2,566,303    61,108 
Warrants   9,397,879    1,788,000 
Total   12,194,905    2,114,519