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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2023 and, 2022 (in thousands):

						As of December 31,
Description		Level				2023				2022
Liabilities:
Warrant liabilities - Common Warrants			3			$	116			$	331
Market Cap Contingent Consideration			3			$	107			$	-

Changes in Warrant Liabilities

The following table presents the changes in the liabilities measured at fair value from January 1, 2023, or from the initial measurement date if later than January 1, 2023, through December 31, 2023 (in thousands):

		Warrant Liabilities				Contingent Consideration
Fair value at January 1, 2023		$	331			$	-
Initial measurement			-				225
Change in fair value			(215	)			(118	)
Fair value at December 31, 2023		$	116			$	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 convertible notes relative to the carrying values recognized in the consolidated balance sheet as of December 31, 2023 (in thousands).  The Company did not have any of the convertible notes or similar instruments outstanding as of December 31, 2022.

						December 31, 2023
		Level				Carrying Value				Fair Value
Convertible Notes			3			$	16,616			$	17,594

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.

+ References

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-Name Accounting Standards Codification
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-Paragraph 2C
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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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