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Accrued Liabilities (Tables) - CIK 0001441693 Pro Farm Group, Inc

6 Months Ended

Jun. 30, 2022

Schedule of accrued liabilities

Accrued liabilities consist of the following (in thousands):

​	​	​	​	​	​	​
​		JUNE 30,			DECEMBER 31,
​	​	2022		​	2021
Accrued compensation	​	$	2,874	​	$	3,922
Accrued warranty costs	​		418	​		440
Accrued customer incentives	​		3,113	​		6,758
Accrued liabilities, acquisition related	​		19	​		30
Loan-related fees	​		508	​		707
Accrued liabilities, other	​		4,509	​		2,994
Accrued Liabilities	​	$	11,441	​	$	14,851

Schedule of liability measured at fair value using unobservable inputs

The following table provides a reconciliation of the activity for the contingent consideration measured between the most recent reporting period and as of the balance sheet date based on the fair value using significant inputs including the unobservable inputs (Level 3) (in thousands):

​

​	​	​	​
​		CONTINGENT
​	​	CONSIDERATION
​	​	LIABILITY
Fair value at December 31, 2021	​	$	539
Change in estimated fair value recorded of contingent consideration	​		(32)
Fair value at June 30, 2022	​		507

Schedule of significant assumptions utilized in the fair value of liabilities

​

​	​	​	​
​		JUNE 30,
​	​	2022
Discount Rate		14.9	%
Volatility		55.0	%
Credit spread		9.7	%
Risk-free rate		2.1	%

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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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

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