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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2023

FAIR VALUE MEASUREMENTS

Summary of activity within Level 3 of the fair value hierarchy, our liabilities carried at fair value

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(in thousands)		Warrant Liability
Balance at January 1,2023	​	$	—
Fair value of warrant issued in Private Placement Offering	​	​	1,837
Total change in the liability included in earnings	​		(465)
Balance at December 31, 2023	​	$	1,372

Summary of fair value of the preferred and common warrants determined by using option pricing models assumptions

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​	​	December 31,		​	June 22,		​	June 14,
​		2023			2023			2023
Expected term (years)		​	4.46	​	​	5.00	​	​	5.00
Risk-free interest rate		​	3.81%	​	​	3.95%	​	​	3.98%
Expected volatility		​	50.0%	​	​	50.0%	​	​	50.0%
Expected dividend yield		​	0.0%	​	​	0.0%	​	​	0.0%

Summary of financial assets and liabilities that have been measured at fair value and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value

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Quoted Prices

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Significant Other

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Significant

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in Active

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Observable

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Unobservable

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Markets

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Inputs

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Inputs

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December 31,

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(Level 1)

(Level 2)

(Level 3)

2023

Description

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Liabilities:

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Warrant liability

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$

—

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$

—

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$

1,372

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$

1,372

Total liabilities

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$

—

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$

—

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$

1,372

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$

1,372

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X

- 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

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-SubTopic 10
-Topic 820
-Publisher FASB
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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://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-SubTopic 10
-Topic 820
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-Paragraph 3
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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/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
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-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
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