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Share Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2024
Share Based Compensation [Abstract] |
Schedule of Activity with Respect to, and Status of, RSUs | A summary of the activity with respect to, and status of, RSUs during the three and six-month period ended June 30, 2024 is presented below:
|  | Number of RSUs |  |  | Weighted Average Grant Date Value |
Unvested as of January 1, 2024 |  |  | 1,655,542 |  |  | $ | 9.61 |
Granted |  |  | 2,276,710 |  |  |  | 8.10 |
Forfeited |  |  | (108,000 | ) |  |  | 10.12 |
Vested |  |  | (638,629 | ) |  |  | 6.91 |
Unvested as of March 31, 2024 |  |  | 3,185,623 |  |  | $ | 8.93 |
Granted |  |  | 490,140 |  |  |  | 3.48 |
Forfeited |  |  | (5,000 | ) |  |  | 10.12 |
Vested |  |  | (642,204 | ) |  |  | 6.44 |
Unvested as of June 30, 2024 |  |  | 3,028,559 |  |  | $ | 6.65 |
Schedule of Common Stock and Current Interest Rates | The fair value of the earnout shares was estimated using a Monte Carlo simulation utilizing assumptions related to the contractual term of the instruments, estimated volatility of the price of the Common Stock and current interest rates. Below are the key assumptions used in valuing the earnout shares:
|  | As of 7/19/2023 |
PSQH Stock Price |  | $ | 9.08 |
Volatility |  |  | 40.0 | %
Risk free rate of return |  |  | 4.6 | %
Expected term (in years) |  |  | 4.8 years |
Schedule of Share-Based Compensation Expense | During the three and six months ended June 30, 2024, the Company recorded the following share-based compensation expense, related to RSUs, earnout shares and Credova Merger:
|  | For the |  |  | For the |
|  | three months |  |  | six months |
|  | ended |  |  | ended |
|  | June 30, |  |  | June 30, |
|  | 2024 |  |  | 2024 |
Cost of sales |  | $ | 56,011 |  |  | $ | 79,985 |
General and administrative expenses |  |  | 3,217,865 |  |  |  | 5,855,998 |
Research and development |  |  | 416,871 |  |  |  | 737,986 |
Sales and marketing |  |  | 1,481,014 |  |  |  | 3,496,807 |
Transaction costs incurred in connection with Credova Merger |  |  | - |  |  |  | 887,409 |
|  | $ | 5,171,761 |  |  | $ | 11,058,185 |

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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