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Fair Value of Financial Instruments | 3 Months Ended
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Mar. 31, 2023
Fair Value Disclosures [Abstract] |
Fair Value of Financial Instruments | Note 3 – Fair Value of Financial Instruments The estimated fair values of financial instruments outstanding were (in thousands): Schedule of Estimated Fair Value of Financial Instrument
|  | March 31, 2023 (Unaudited) |
|  |  |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Short-term investments |  | $ | 17,883 |  |  | $ | — |  |  | $ | (29 | ) |  | $ | 17,854 |
Total |  | $ | 17,883 |  |  | $ | — |  |  | $ | (29 | ) |  | $ | 17,854 |
|  | December 31, 2022 |
|  |  |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Short-term investments |  | $ | 10,866 |  |  | $ | — |  |  | $ | (30 | ) |  | $ | 10,836 |
Total |  | $ | 10,866 |  |  | $ | — |  |  | $ | (30 | ) |  | $ | 10,836 |
The following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and investments) (in thousands): Schedule of Fair Value Hierarchy Financial Assets
|  | Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  | March 31, 2023 (Unaudited) |
|  | Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Money market funds |  | $ | 1,837 |  |  | $ | 1,837 |  |  | $ | — |  |  | $ | — |
Corporate notes and commercial paper |  |  | 17,854 |  |  |  | 17,854 |  |  |  | — |  |  |  | — |
Total financial assets |  | $ | 19,691 |  |  | $ | 19,691 |  |  | $ | — |  |  | $ | — |
|  |  | 1 |  |  |  | 2 |  |  |  | 3 |  |  |  | 4 |
|  | December 31, 2022 |
|  | Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Money market funds |  | $ | 5,505 |  |  | $ | 5,505 |  |  | $ | — |  |  | $ | — |
Corporate notes and commercial paper |  |  | 10,836 |  |  |  | 10,836 |  |  |  | — |  |  |  | — |
Total financial assets |  | $ | 16,341 |  |  | $ | 16,341 |  |  | $ | — |  |  | $ | — |
As of March 31, 2023, the fair value of the warrant liability was $2.9 million. The details of warrant liability transactions for the three months ended March 31, 2023 and 2022, are as follows (in thousands): Schedule of Derivative Liability Transactions
|  | March 31, 2023 |  |  | March 31, 2022 |
|  | Three Months Ending |
|  | March 31, 2023 |  |  | March 31, 2022 |
|  | (Unaudited) |  |  | (Unaudited) |
Beginning balance |  | $ | 19 |  |  | $ | 138 |
Issuance of warrants at fair value |  |  | 5,831 |  |  |  | — |
Change in fair value |  |  | (2,924 | ) |  |  | (18 | )
Extinguishment |  |  | — |  |  |  | — |
Ending balance |  | $ | 2,926 |  |  | $ | 120 |

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- References No definition available. + Details
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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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