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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2022
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 June 30, 2022 
   Total   Level 1   Level 2   Level 3 
Investment in term promissory note of Ault & Company, Inc. (“Ault & Company”) and other – a related party  $2,770,000   $-   $-   $2,770,000 
Investment in common stock of Alzamend Neuro, Inc. (“Alzamend”) – a related party   8,845,000    8,845,000    -    - 
Investments in marketable equity securities   17,467,000    17,467,000    -    - 
Cash and marketable securities held in trust account   116,895,000    116,895,000    -    - 
Investments in other equity securities   804,000    -    -    804,000 
Total assets measured at fair value  $146,781,000   $143,207,000   $-   $3,574,000 

 

   Fair Value Measurement at December 31, 2021 
   Total   Level 1   Level 2   Level 3 
Investment in term promissory note of 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 other equity securities   9,215,000    -    -    9,215,000 
Total assets measured at fair value  $182,392,000   $170,335,000   $-   $12,057,000 
The following table summarizes the changes in investments in other 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, 2022:

 The following table summarizes the changes in investments in other 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, 2022:

 

   Investments in
other equity
securities		 
 Balance at January 1, 2022  $9,215,000 
 Investment in preferred stock   2,550,000 
 Change in fair value of warrants   13,867,000 
 Conversion to marketable securities   (24,828,000)
 Balance at June 30, 2022  $804,000 
These investments were not measured due to an observable price change or impairment during the six months ended June 30, 2022.

The following table presents information on the assets measured at fair value on a nonrecurring basis by level within the fair value hierarchy as of June 30, 2022 and December 31, 2021. These investments were not measured due to an observable price change or impairment during the six months ended June 30, 2022.

 

   Fair Value Measurement Using 
   Total   Quoted prices
in active
markets for
identical assets  
(Level 1)		   Other
observable
inputs
(Level 2)		   Significant
unobservable
inputs
(Level 3)		 
As of June 30, 2022                
Investments in other equity securities that do not report net asset value  $37,691,000   $-   $-   $37,691,000 

 

   Fair Value Measurement Using  
   Total    Quoted prices
in active
markets for
identical assets
(Level 1) 		   Other
observable
inputs
(Level 2) 		   Significant
unobservable
inputs
(Level 3) 		 
As of December 31, 2021                    
Investments in other equity securities that do not report net asset value  $21,241,000   $-   $-   $21,241,000