XML 144 R46.htm IDEA: XBRL DOCUMENT v3.23.1

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

The following tables summarize financial assets and liabilities recorded at fair value on a recurring basis, by the level of valuation inputs in the fair value hierarchy on March 31, 2023 and December 31,2022:

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

March 31, 2023:

		Total Fair Value				Quoted Prices in Active Markets (Level 1)				Significant Other Unobservable Inputs (Level 3)
Description
Liabilities:
Public warrants		$	150,650				150,650				-
Private placement warrants			7,953				-				7,953
PIPE Warrants			74,762				-				74,762
Forward purchase option derivative			7,309,580				-				7,309,580
Liabilities,fair value			7,309,580				-				7,309,580

December 31, 2022:

		Total Fair Value				Quoted Prices in Active Markets (Level 1)				Significant Other Unobservable Inputs (Level 3)
Description
Liabilities:
Public warrants		$	361,100				361,100				-
Private placement warrants			19,110				-				19,110
PIPE Warrants			286,300				-				286,300
Forward purchase option derivative			7,309,580				-				7,309,580
Liabilities, fair value			7,309,580				-				7,309,580

Schedule of Carrying Amounts and Fair Values of Financial Instruments by the Level of Valuation Inputs in the Fair Value Hierarchy

The following tables present the carrying amounts and fair values of financial instruments, by the level of valuation inputs in the fair value hierarchy, as of the dates indicated:

Schedule of Carrying Amounts and Fair Values of Financial Instruments by the Level of Valuation Inputs in the Fair Value Hierarchy 

										Level 1				Level 2				Level 3
		As on March 31, 2023
		Carrying amount				Fair value				Fair value measurement using
										Level 1				Level 2				Level 3
Assets
Cash and cash equivalents		$	8,628,752			$	8,628,752			$	8,628,752				-				-
Forward purchase receivables			4,584,221				4,584,221				4,584,221				-				-
Loans			413,292				365,781				-				-				365,781
Liabilities
Deferred consideration			17,272,308				17,272,308				17,272,308				-				-
Senior Secured Promissory note			14,500,000				14,500,000				14,500,000				-				-
Indemnity liability			1,147,832				1,147,832				1,147,832				-				-
Public warrants			150,650				150,650				150,650				-				-
Private placement warrants			7,953				7,953				-				-				7,953
PIPE Warrants			74,762				74,762				-				-				74,762
Forward purchase derivative			7,309,580				7,309,580				-				-				7,309,580

										Level 1				Level 2				Level 3
		As on December 31, 2022
		Carrying amount				Fair value				Fair value measurement using
										Level 1				Level 2				Level 3
Assets
Cash and cash equivalents		$	8,390,195			$	8,390,195			$	8,390,195				-				-
Forward purchase receivables			4,584,221				4,584,221				4,584,221								-
Loans			1,301,991				1,241,761				-				-				1,241,761
Liabilities
Deferred consideration			14,359,822				14,359,822				14,359,822				-				-
Due to seller - current portion			25,973,017				25,973,017				25,973,017				-				-
Due to seller - long term position			30,976,783				30,976,783				30,976,783				-				-
Deferred underwriter fee payable			1,450,500				1,450,500				1,450,500				-				-
Indemnity liability			499,465				499,465				499,465				-				-
Public warrants			361,100				361,100				361,100				-				-
Private placement warrants			19,110				19,110				-				-				19,110
PIPE Warrants			286,300				286,300				-				-				286,300
Forward purchase derivative			7,309,580				7,309,580				-				-				7,309,580

Schedule of Fair Value Assets Measured on Recurring Basis

The change in the assets measured at fair value on a recurring basis for which we have utilized Level 3 inputs to determine fair value are presented in the following table:

Schedule of Fair Value Assets Measured on Recurring Basis

		PIPE Warrants				Private Placement Warrants				Forward purchase derivative
		For the three months ended March 31, 2023
		PIPE Warrants				Private Placement Warrants				Forward purchase derivative
Balance at the beginning of the period		$	286,300				19,110				7,309,580
Fair value adjustment			(211,538	)			(11,157	)			-
Balance at the end of the period		$	74,762				7,953				7,309,580

Schedule of Level 3 Fair Value Measurements Inputs

The following table provides quantitative information regarding Level 3 fair value measurements inputs as it relates to the private placement warrants and public warrants as of their measurement dates:

Schedule of Level 3 Fair Value Measurement Inputs

As on March 31, 2023		PIPE Warrants				Private placement warrants
Exercise price		$	5.00			$	11.50
Share Price		$	0.51			$	0.51
Expected term (years)			4.49				4.49
Volatility			73.2	%			73.2	%
Risk-free rate			3.62	%			3.62	%

As on December 31,2022		PIPE Warrants				Private placement warrants
Exercise price		$	5.00			$	11.50
Share Price		$	1.78			$	1.78
Expected term (years)			4.74				4.74
Volatility			46.00	%			46.00	%
Risk-free rate			4.00	%			3.98	%

Purchase Agreement Option [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Schedule of Level 3 Fair Value Measurements Inputs

The following table provides quantitative information regarding Level 3 fair value measurements inputs as it relates to the forward purchase derivatives as of their measurement dates on March 31,2023 and December 31,2022:

Schedule of Level 3 Fair Value Measurements Inputs 

		March 31, 2023
Reset Price		$	5.00
Expected term (years)			2.74
Additional maturity consideration per share		$	2.00
Volatility			46	%
Risk-free rate			4.2	%
Risk-adjusted discount rate			13.4	%

		December 31, 2022
Reset Price		$	5.00
Expected term (years)			2.74
Additional maturity consideration per share		$	2.00
Volatility			46	%
Risk-free rate			4.2	%
Risk-adjusted discount rate			13.4	%

X

- Definition

Schedule of Carrying Amounts and Fair Values of Financial Instruments [Table Text Block]

+ References

No definition available.

+ Details

Name:	SHFS_ScheduleOfCarryingAmountsAndFairValuesOfFinancialInstrumentsTableTextBlock
Namespace Prefix:	SHFS_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 808
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479402/808-10-50-1

+ Details

Name:	us-gaap_CollaborativeArrangementsAndNoncollaborativeArrangementTransactionsLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

+ Details

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

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
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

+ Details

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

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

+ Details

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

X

- Details

Name:	us-gaap_TypeOfArrangementAxis=SHFS_PurchaseAgreementOptionMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: