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Fair Value Measurements

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 14. Fair Value Measurements

The Company’s financial instruments include cash, accounts payable, notes payable, contingent stock and warrant liability and warrant liability. Cash, contingent stock liability, contingent warrant liability and warrant liability are measured at fair value. Accounts payable and notes payable are measured at amortized cost and approximates fair value due to their short duration and market rate for similar instruments, respectively.

As of December 31, 2022, the following financial assets and liabilities were measured at fair value on a recurring basis presented on the Company’s consolidated balance sheet:

 Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

		Level 1				Level 2				Level 3				Total
		Fair Value Measurements Using
		Level 1				Level 2				Level 3				Total
Assets
Cash		$	4,170,897				-				-			$	4,170,897
			-				-				-
Total assets measured at fair value		$	4,170,897				-							$	4,170,897
Liabilities
Warrant liability		$	1,151,838				-				-			$	1,151,838
Total liabilities measured at fair value		$	1,151,838				-				-			$	1,151,838

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- References

No definition available.

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- Definition

The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-URI https://asc.fasb.org/topic&trid=2155941

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