XML 56 R43.htm IDEA: XBRL DOCUMENT
v3.22.1

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Fair Value Disclosures [Abstract] |
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 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 December 31, 2021 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Investment in term promissory note of Ault & Company, Inc. (“Ault & Company”) and other – a related party |  | $ | 2,842,000 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,842,000 |
Investment in common stock of Alzamend – a related party |  |  | 13,230,000 |  |  |  | 13,230,000 |  |  |  | - |  |  |  | - |
Investments in marketable equity securities |  |  | 40,380,000 |  |  |  | 40,380,000 |  |  |  | - |  |  |  | - |
Cash and marketable securities held in trust account |  |  | 116,725,000 |  |  |  | 116,725,000 |  |  |  | - |  |  |  | - |
Investments in equity securities |  |  | 30,482,000 |  |  |  | - |  |  |  | - |  |  |  | 30,482,000 |
Total assets measured at fair value |  | $ | 203,659,000 |  |  | $ | 170,335,000 |  |  | $ | - |  |  | $ | 33,324,000 |
|  | Fair Value Measurement at December 31, 2020 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Investments in convertible promissory notes and advances of Alzamend – related parties |  | $ | 797,000 |  |  | $ | - |  |  | $ | - |  |  | $ | 797,000 |
Investments in marketable equity securities |  |  | 653,000 |  |  |  | - |  |  |  | - |  |  |  | 653,000 |
Investments in marketable equity securities |  |  | 2,563,000 |  |  |  | 2,563,000 |  |  |  | - |  |  |  | - |
Investments in equity securities |  |  | 262,000 |  |  |  | - |  |  |  | - |  |  |  | 262,000 |
Total assets measured at fair value |  | $ | 4,275,000 |  |  | $ | 2,563,000 |  |  | $ | - |  |  | $ | 1,712,000 |
The following table summarizes the changes in investments in equity securities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the year ended December 31, 2021: | The following table summarizes the changes in investments in equity securities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the year ended December 31, 2021:
|  | Investments in |
|  | equity |
|  | securities |
Balance at January 1, 2021 |  | $ | 262,000 |
Investment in convertible preferred stock |  |  | 14,950,000 |
Investment in warrants |  |  | 2,673,000 |
Change in fair value of warrants |  |  | 8,224,000 |
Conversion of loans to equity securities |  |  | 3,520,000 |
Unrealized gains on equity securities |  |  | 2,510,000 |
Conversion to marketable securities |  |  | (1,657,000 | )
Balance at December 31, 2021 |  | $ | 30,482,000 |

X
- 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
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_InvestmentsInAndAdvancesToAffiliatesScheduleOfInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration