Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENT (Tables)

v3.24.1
FAIR VALUE MEASUREMENT (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
SUMMARY OF ASSUMPTIONS USED FOR VALUATION OF FAIR VALUE LIABILITIES

Assumptions utilized in the valuation of Level 3 liabilities are described as follows:

 

    For the Years Ended  
    December 31,  
    2023     2022     2021  
Risk-free interest rate     4.64%-5.46 %     1.63%-4.73 %     0.07%-0.39 %
Contractual term (years)     1.00       1.00       1.00  
Expected volatility     67%-80 %     74%-85 %     90%-148 %
Expected dividend yield     0.00 %     0.00 %     0.00 %
SUMMARY OF CHANGES IN FAIR VALUE OF LEVEL 3 WARRANT LIABILITIES MEASURED AT RECURRING BASIS

The following table sets forth a summary of the changes in the fair value of Level 3 warrant liabilities that are measured at fair value on a recurring basis:

 

    2023     2022  
Contingent Consideration                
Beginning balance as of January 1,   $ 1,316     $ -  
Contingent consideration assumed in EB acquisition     -       3,814  
Change in fair value of contingent consideration     (1,316 )     (2,498 )
Ending balance as of December 31,   $ -     $ 1,316  
                 
Warrant Liability                
Beginning balance as of January 1   $ 24     $ 90  
Change in fair value of warrant liability     8       (66 )
Ending balance as of December 31,   $ 32     $ 24  
SUMMARY OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE RECURRING AND NONRECURRING BASIS

Assets and liabilities measured at fair value on a recurring basis are as follows:

 

    December 31, 2023  
    Level 1     Level 2     Level 3     Total  
Assets:                        
Alternative fuel credits   $ -     $ 32     $ -     $ 32  
Total assets   $ -     $ 32     $ -     $ 32  
                                 
Liabilities:                                
Option liability   $ 293     $ -     $ -     $ 293  
Contingent consideration     -       -       1,316       1,316  
Warrant liability     -       -       32     32  
Common stock liability     743       -       -       743  
Common stock consideration payable     18,118       -       -       18,118  
Total liabilities   $ 19,154     $ -     $ 32     $ 19,186  

 

    December 31, 2022  
    Level 1     Level 2     Level 3     Total  
Assets:                        
Alternative fuel credits   $ -     $ 32     $ -     $ 32  
Total assets   $ -     $ 32     $ -     $ 32  
                                 
Liabilities:                                
Option liability   $ 409     $ -     $ -     $ 409  
Contingent consideration     -       -       1,316       1,316  
Warrant liability     -       -       24       24  
Total liabilities   $ 409     $ -     $ 1,340     $ 1,749