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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2021
Stockholders Equity Note [Abstract] |
Schedule of Movement in Preferred Shares | The following tables summarize the movement in preferred shares for the year ended December 31, 2020.
| Class A |  |  | Class B |  |  | Class C |  |  |  |  |
(amounts in thousands) | preferred shares |  |  | preferred shares |  |  | preferred shares |  |  | Total |
Balance at January 1, 2020 |  | 124 |  |  | $ | 4,457 |  |  |  | 1,989 |  |  | $ | 54,831 |  |  |  | 2,959 |  |  | $ | 58,803 |  |  | $ | 118,091 |
Dividends accrued |  |  |  |  |  | 65 |  |  |  |  |  |  |  | 796 |  |  |  |  |  |  |  | - |  |  |  | 861 |
Amortization of issuance costs and warrants |  |  |  |  |  | - |  |  |  |  |  |  |  | 77 |  |  |  |  |  |  |  | 728 |  |  |  | 805 |
Foreign exchange impact |  |  |  |  |  | (293 | ) |  |  |  |  |  |  | (3,601 | ) |  |  |  |  |  |  | (3,862 | ) |  |  | (7,756 | )
Preferred shares converted into Peraso Shares |  | (124 | ) |  |  | (4,229 | ) |  |  | (1,989 | ) |  |  | (52,103 | ) |  |  | (2,959 | ) |  |  | (55,669 | ) |  |  | (112,001 | )
Balance at December 31, 2020 |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Schedule of Warrants Outstanding | At December 31, 2021, the Company had the following warrants outstanding (share amounts in thousands):
Warrant Type |  | Number of Shares |  |  | Exercise Price |  |  | Expiration
Common stock |  |  | 33 |  |  | $ | 47.00 |  |  | January 2023
Common stock |  |  | 101 |  |  | $ | 2.40 |  |  | October 2023
Warrants classified as liability Warrants outstanding at December 31, 2020 and their respective exercise price and expiration dates, were as follows:
Year Issued |  | Number of warrants issued (recast) |  |  | Exercise price |  | Expiration
2014 |  |  | 27 |  |  | CDN$1.00 |  | December 31, 2025
2015 |  |  | 4 |  |  | CDN$1.00 |  | August 31, 2022
2016 |  |  | 19 |  |  | CDN$1.479 |  | December 31, 2025
2017 |  |  | 7 |  |  | CDN$1.479 |  | December 31, 2022
2017 |  |  | 15 |  |  | CDN$1.479 |  | December 31, 2025
2019 |  |  | 3 |  |  | CDN$1.479 |  | December 31, 2025
2020 |  |  | 98 |  |  | CDN$0.15 |  | December 31, 2025
2020 |  |  | 202 |  |  | CDN$0.15 |  | December 31, 2023
Total |  |  | 375 |  |  |  |  |
Schedule of Warrant Activity | Warrant activity and the related changes in the estimated fair values during the years ended December 31, 2021 and 2020 were:
|  | Number of shares (recast) |  |  | Amount |
Balance - December 31, 2019 |  |  | 75 |  |  | $ | 1,501,307 |
Issued in the year |  |  | 300 |  |  |  | 5,300,798 |
Change in fair value of warrants |  |  | — |  |  |  | (96,267 | )
Balance - December 31, 2020 |  |  | 375 |  |  |  | 6,705,838 |
Issued in the year |  |  | 133 |  |  |  | 2,604,420 |
Effect of business combination |  |  | (508 | ) |  |  | (1,208,250 | )
Change in fair value of warrants |  |  | — |  |  |  | (8,102,008 | )
Balance - December 31, 2021 |  |  | — |  |  | $ | — |

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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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- Definition Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (27) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 480 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=122040564&loc=d3e177068-122764 + Details
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