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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended
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Jun. 30, 2023
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract] |
Liabilities Measured at Fair Value | The following tables summarize the liabilities that are measured at fair value as of June 30, 2023 and December 31, 2022 (in thousands):
Description |  | Level |  |  | June 30, 2023 |  |  | December 31, 2022 |
Liabilities: |  |  |  |  |  |  |  |  |
Warrant liabilities - Common Warrants |  |  | 3 |  |  | $ | 185 |  |  | $ | 331 |
Market Cap Contingent Consideration |  |  | 3 |  |  | $ | 107 |  |  | $ | - |
Fair Valuation of Assumptions | The following assumptions were used in the fair valuation calculation as of the acquisition date and June 30, 2023:
|  | Acquisition Date |  |  | June 30, 2023 |
Stock price |  | $ | 3.00 |  |  | $ | 2.26 |
Risk-free rate |  |  | 3.58 | % |  |  | 4.46 | %
Volatility |  |  | 100 | % |  |  | 90 | %
Dividend yield |  |  | 0 | % |  |  | 0 | %
Expected term |  | 3.0 years |  |  | 2.82 years |
Changes in Warrant Liabilities | The following table presents the changes in the warrant liabilities from January 1, 2023 through June 30, 2023, as well as the initial measurement of the Market Cap Contingent Consideration as of the acquisition date of the Exacis Assets and the changes in such contingent consideration as of June 30, 2023 (in thousands):
|  | Warrant Liabilities |  |  | Contingent Consideration |
Fair value at January 1, 2023 |  | $ | 331 |  |  | $ | - |
Initial measurement of Market Cap Contingent Consideration |  |  | - |  |  |  | 225 |
Change in fair value |  |  | (146 | ) |  |  | (118 | )
Fair value at June 30, 2023 |  | $ | 185 |  |  | $ | 107 |

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: 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 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: 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
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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://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
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- Definition Tabular disclosure of derivative liabilities at fair value. + References No definition available. + Details
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