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DERIVATIVES (Tables) | 3 Months Ended
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Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instrument Presented on Balance Sheets, Statement of Operations and Comprehensive Loss | The following table sets forth the details of the derivative instrument presented on the condensed consolidated balance sheets and notional amount as of March 31, 2024 and December 31, 2023:
|  |  |  | March 31, 2024
Derivatives Not Designated as Hedging Instruments |  | Number of Warrants (Notional Amount) |  | Warrant Liability |  | Exercise Price Per Share
|  |  |  | ($ in thousands, except for per share amounts)
Penny warrants issued to Searchlight |  | 12,024,711 |  |  | $ | 9,343 |  |  | $ | 0.01 |
|  |  |  | December 31, 2023
Derivatives Not Designated as Hedging Instruments |  | Number of Warrants (Notional Amount) |  | Warrant Liability |  | Exercise Price Per Share
|  |  |  | ($ in thousands, except for per share amounts)
Penny warrants issued to Searchlight |  | 12,024,711 |  |  | $ | 11,664 |  |  | $ | 0.01 |
The gains and losses arising from this derivative instrument in the condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2024 (1) is set forth as follows:
Derivatives Not Designated as Hedging Instruments |  | Net Realized Gains (Losses) on Derivative Instruments |  | Net Change in Unrealized Gain (Loss) on Derivative Instruments
|  | (in thousands)
Penny warrants issued to Searchlight |  | $ | — |  |  | $ | 2,321 |
(1) No such instruments existed during the three months ended March 31, 2023; therefore, there were no gains or losses from such instruments during that quarter.

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- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4CC + Details
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