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BUSINESS COMBINATION (Tables) | 9 Months Ended
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Sep. 30, 2022
BUSINESS COMBINATION |
Schedule of purchase consideration | Total purchase consideration including cash, restricted shares and contingent consideration was valued at approximately $23.9 million, as follows (in thousands):
​ | ​ | ​ | ​
Cash paid at Closing |  | $ | 4,700
Receivable from VCN “effectively settled“ | ​ |  | 417
FV of common shares issued | ​ |  | 6,599
FV of contingent consideration | ​ |  | 12,159
​ | ​ | $ | 23,875
Schedule of allocation of fair value of assets and liabilities acquired | ​
​ | ​ | ​ | ​
​ |  | Estimated fair value
​ | ​ | ($in thousands)
Cash and cash equivalents | ​ | $ | 837
Receivables | ​ |  | 1,707
Property and equipment | ​ |  | 216
In-process research and development intangible asset | ​ |  | 21,703
Goodwill | ​ |  | 5,765
Deferred tax assets (liabilities), net | ​ |  | (3,699)
Accounts payable | ​ |  | (814)
Accrued expenses | ​ |  | (113)
Accrued employee benefits | ​ |  | (90)
Loan Payable-current | ​ |  | (67)
Other long-term liabilities | ​ |  | (1,570)
​ | ​ | ​ | ​
Total purchase consideration | ​ | $ | 23,875
Schedule of Pro Forma Consolidated Financial Information | The following unaudited pro forma consolidated financial information summarizes the results of operations for the periods indicated as if the VCN acquisition had been completed as of January 1, 2021 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
(in thousands) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Net revenues | ​ | $ | — | ​ | $ | — | ​ | ​ | — | ​ | $ | —
Net loss | ​ | $ | (4,853) | ​ | $ | (3,808) | ​ | ​ | (14,956) | ​ | $ | (10,810)

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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