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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 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 September 30, 2023 and December 31, 2022 (in thousands):

Description		Level				September 30, 2023				December 31, 2022
Liabilities:
Warrant liabilities - Common Warrants			3			$	165			$	331
Market Cap Contingent Consideration			3			$	107			$	-

Changes in Warrant Liabilities

The following table presents the changes liabilities measured at fair value from January 1, 2023, or from the initial measurement date if later than January 1, 2023, through September 30, 2023 (in thousands):

		Warrant Liabilities				Contingent Consideration
Fair value at January 1, 2023		$	331			$	-
Initial measurement			-				225
Change in fair value			(166	)			(118	)
Fair value at September 30, 2023		$	165			$	107

Fair Value and Carrying Values of Convertible Notes

The table below is provided for comparative purposes only and presents information about the fair value of the Company’s Convertible Notes relative to the carrying values recognized in the condensed consolidated balance sheet as of September 30, 2023 (in thousands).  The Company did not have the Convertible Notes as of December 31, 2022.

		September 30, 2023
		Carrying Value				Fair Value
Convertible Notes		$	8,715			$	9,114

X

- 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.

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-Name Accounting Standards Codification
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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

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-Name Accounting Standards Codification
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Tabular disclosure of derivative liabilities at fair value.

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