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The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy: (Tables) | 6 Months Ended
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Jun. 30, 2021
Fair Value Disclosures [Abstract] |
The categorization of a financial instrument within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy: | The categorization of a financial instrument within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy:
|  | Fair Value Measurement at June 30, 2021 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Investments in convertible and term promissory notes of Avalanche International, Corp. (“AVLP”) and Ault and Company, Inc. (“Ault & Company”) – related parties |  | $ | 13,913,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,913,000 |
Investments in common stock and warrants of AVLP – a related party |  |  | 4,753,000 |  |  |  | 450,000 |  |  |  | — |  |  |  | 4,303,000 |
Investment in common stock and warrants of Alzamend Neuro, Inc. (“Alzamend”) – a related party |  |  | 55,602,000 |  |  |  | 46,025,000 |  |  |  | — |  |  |  | 9,577,000 |
Investments in marketable equity securities |  |  | 30,172,000 |  |  |  | 30,172,000 |  |  |  | — |  |  |  | — |
Investments in debt and equity securities |  |  | 4,013,000 |  |  |  | — |  |  |  | — |  |  |  | 4,013,000 |
Total Investments |  | $ | 108,453,000 |  |  | $ | 76,647,000 |  |  | $ | — |  |  | $ | 31,806,000 |
|  | Fair Value Measurement at December 31, 2020 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Investments in convertible promissory notes and advances of AVLP and Alzamend – related parties |  | $ | 10,668,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,668,000 |
Investments in common stock and warrants of AVLP – a related party |  |  | 5,486,000 |  |  |  | 500,000 |  |  |  | — |  |  |  | 4,986,000 |
Investment in common stock and warrants of Alzamend – a related party |  |  | 653,000 |  |  |  | — |  |  |  | — |  |  |  | 653,000 |
Investments in marketable equity securities |  |  | 2,563,000 |  |  |  | 2,563,000 |  |  |  | — |  |  |  | — |
Investments in debt and equity securities |  |  | 262,000 |  |  |  | — |  |  |  | — |  |  |  | 262,000 |
Total Investments |  | $ | 19,632,000 |  |  | $ | 3,063,000 |  |  | $ | — |  |  | $ | 16,569,000 |
The following table summarizes the changes in investments in debt and equity securities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the six months ended June 30, 2021: | The following table summarizes the changes in investments in debt and equity securities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the six months ended June 30, 2021:
|  | Investments in |
|  | debt and equity |
|  | securities |
Balance at January 1, 2021 |  | $ | 262,000 |
Investment in convertible promissory notes |  |  | 1,136,000 |
Investment in convertible preferred stock |  |  | 600,000 |
Investment in warrants |  |  | 2,467,000 |
Change in fair value of warrants |  |  | 1,224,000 |
Accretion of discount |  |  | 980,000 |
Conversion to marketable securities |  |  | (2,656,000 | )
Balance at June 30, 2021 |  | $ | 4,013,000 |
The fair value of the Company’s holdings warrants was estimated using the Black-Scholes option-pricing method and the following assumptions: | Investments in debt and equity securities in the preceding table include the Company’s investments in certain preferred stocks and common stock warrants that do not have readily determinable market values as defined under GAAP. The Company applied standard valuation techniques in valuing the preferred stock and made assumptions regarding the expected duration of the investment and the effects of subordination in liquidation. The fair value of the Company’s holdings warrants was estimated using the Black-Scholes option-pricing method and the following assumptions:
Exercise price |  | $ | 15.00 |
Remaining contractual term (in years) |  |  | 2.56 |
Volatility |  |  | 115.6% |
Weighted average risk free interest rate |  |  | 0.355% |
Expected dividend yield |  |  | 0% |

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- Definition Tabular disclosure of assets, 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). + 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 The entire disclosure for the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. It reflects specified information about ownership, financial results from, and financial position in such entities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 + Details
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