Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENT (Tables)

v3.24.3
FAIR VALUE MEASUREMENT (Tables)
 9 Months Ended
Sep. 30, 2024
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 Three Months Ended     For the Nine Months Ended  
    September 30,     September 30,  
    2024     2023     2024     2023  
Risk-free interest rate     3.98 %     5.40 %     3.98%-5.09 %     4.64%-5.40 %
Contractual term (years)     1.00       1.00       1.00       1.00  
Expected volatility     92 %     71 %     88%-92 %     71%-77 %
Expected dividend yield     0.00 %     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 and consideration payable liabilities that are measured at fair value on a recurring basis:

 

    2024  
Consideration payable        
Beginning balance as of January 1,   $ 18,118  
Change in fair value of consideration payable     2,811  
Ending balance as of September 30,   $ 20,929  
         
Warrant Liability        
Beginning balance as of January 1   $ 32  
Change in fair value of warrant liability     (27 )
Ending balance as of September 30,   $ 5  
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:

 

    September 30, 2024  
    Level 1     Level 2     Level 3     Total  
Assets:                        
Alternative fuel credits   $ -     $ 77     $ -     $ 77  
Total assets   $ -     $ 77     $ -     $ 77  
                                      
Liabilities:                                
Warrant liability   $ -     $ -     $ 5     $ 5  
Common stock consideration payable     -       -       20,929       20,929  
Total liabilities   $ -     $ -     $ 20,934     $ 20,934  

 

    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  
Warrant liability     -       -       32       32  
Common stock liability     743       -       -       743  
Common stock consideration payable     -       -       18,118       18,118  
Total liabilities   $ 1,036     $ -     $ 18,150     $ 19,186