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FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2020

FAIR VALUE [Abstract]

Schedule of Changes in Fair Value of Liability

During the years ended December 31, 2020 and 2019, the change in the fair value of the warrant liabilities measured using significant unobservable inputs (Level 3) were comprised of the following:

Dollars in Thousands
		Year Ended December 31, 2020
		2016 Warrant			Bridge Note			Total Warrant
		Liability			Warrant Liabilities			Liabilities
Beginning balance at January 1		$	70		$	1,268		$	1,338
Total gains:
Revaluation recognized in earnings			60			(73)			(13)
Balance at December 31		$	130		$	1,195		$	1,325
		Year Ended December 31, 2019
		2016 Warrant			Bridge Note			Total Warrant
		Liability			Warrant Liabilities			Liabilities
Beginning balance at January 1		$	116		$	1,016		$	1,132
Additions:			–			1,858			1,858
Total (gains) losses:
Revaluation recognized in earnings			(46)			(370)			(416)
Modification recognized in earnings			–			1,128			1,128
Deductions – warrant liability settlement			–			(2,364)			(2,364)
Balance at December 31		$	70		$	1,268		$	1,338

Schedule of Change in the Fair Value of the Derivative Liabilities

During the year ended December 31, 2019, the change in the fair value of the derivative liabilities was comprised of the following:

(Dollars in thousands)		Year Ended December 31, 2019
		Bridge Notes
		Redemption			Conversion			Total Derivative
		Feature			Option			Liabilities
Beginning balance at January 1		$	30		$	32		$	62
Deductions - write-off in conjunction with convertible note conversions			(438)			(39)			(477)
Total loss:
Revaluation recognized in earnings			408			7			415
Balance at December 31		$	—		$	—		$	—

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- References

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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 http://asc.fasb.org/extlink&oid=117815213&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 http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

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- Definition

Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

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 (c)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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