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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents information about the Company’s assets and liabilities fair value at December 31, 2024 and 2023 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
| December 31, 2024
| Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |
Money market fund | $ | 28,843 |  |  | $ | — |  |  | $ | — |
Total | $ | 28,843 |  |  | $ | — |  |  | $ | — |
Amounts included in: |  |  |  |  |
Cash and cash equivalents | $ | 28,843 |  |  | $ | — |  |  | $ | — |
Total | $ | 28,843 |  |  | $ | — |  |  | $ | — |
| December 31, 2024
| Level 1 |  | Level 2 |  | Level 3
Liabilities: |  |  |  |  |
Derivative liabilities at fair value | $ | — |  |  | $ | — |  |  | $ | 12,875 |
Warrants liability | — |  | 32,140 |  |  | 9,010 |
Total | $ | — |  |  | $ | 32,140 |  |  | $ | 21,885 |
NOTE 15. FAIR VALUE MEASUREMENTS (cont.)
| December 31, 2023 |
| Level 1 |  | Level 2 |  | Level 3 |
Assets: |  |  |  |  |  |
Money market fund | $ | 710 |  |  | $ | — |  |  | $ | — |  |
Bank deposits | — |  |  | 44,395 |  |  | — |  |
Total | 710 |  |  | 44,395 |  |  | — |  |
Amounts included in: |  |  |  |  |  |
Cash and cash equivalents | $ | 710 |  |  | $ | — |  |  | $ | — |  |
Short-term investments | — |  |  | 44,395 |  |  | — |  |
Total | $ | 710 |  |  | $ | 44,395 |  |  | $ | — |  |
| December 31, 2023
| Level 1 |  | Level 2 |  | Level 3
Liabilities: |  |  |  |  |
Derivative liabilities at fair value | $ | — |  |  | $ | — |  |  | $ | 4,126 |
Warrants liability | — |  | — |  | 3,400 |
Total | $ | — |  |  | $ | — |  |  | $ | 7,526 |
Schedule of Fair Value Measurement Inputs and Valuation Techniques | The following table provides the inputs used for Level 3 fair value measurements of warrants liability:
|  | December 31, 2024 |  | December 31, 2023
Stock price |  | $8.83 |  | $5.14
Strike price |  | $4.42 | - | $5.74 |  | $4.97 | - | $5.74
Term (in years) |  | 1.5 | - | 2.5 |  | 1.5 | - | 2.5
Volatility |  | 97.80% | - | 116.20% |  | 57.77% | - | 59.65%
Risk-free rate |  | 4.19% | - | 4.30% |  | 4.15% | - | 4.34%
Dividend yield |  | 0.0% |  | 0.0%
The following table provides the inputs used for Level 3 fair value measurements of derivative liability:
|  | December 31, 2024 |  | December 31, 2023
Stock price |  | $8.83 |  | $5.14
Term (in years) |  | 1.5 | - | 2.5 |  | 1.5 | - | 2.5
Volatility |  | 95.00% | - | 96.54% |  | 57.77% | - | 59.65%
Risk-free rate |  | 4.48% | - | 4.49% |  | 4.27% | - | 4.34%
Cost of Debt (Rd) |  | 7.64% |  | 7.03% | - | 7.10%
Dividend yield |  | 0.0% |  | 0.0%
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following table presents the changes in the fair value of Level 3 warrants and derivative liabilities for the year ended December 31, 2024 and 2023:
| Total Level 3 Financial Liabilities
Balance at December 31, 2023 | $ | 7,526 |
Change in fair value of derivative liabilities at fair value | 9,143 |
Partial conversion of convertible notes | (394) |
Change in fair value of warrants liability | 5,610 |
Balance at December 31, 2024 | $ | 21,885 |
| Total Level 3 Financial Liabilities
Balance at December 31, 2022 | $ | — |
Issuance of derivative liabilities at fair value (Note 13) | 4,366 |
Change in fair value of derivative liabilities at fair value | (240) |
Issuance of warrants (Note 13) | 3,796 |
Change in fair value of warrants liability | (396) |
Balance at December 31, 2023 | $ | 7,526 |

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- 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://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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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://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- 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/2009/role/commonPracticeRef -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 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -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 + Details
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