Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENT (Tables)

v3.22.4
FAIR VALUE MEASUREMENT (Tables)
 12 Months Ended
Dec. 31, 2022
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,  
    2022     2021     2020  
Risk-free interest rate     1.63%-4.73 %     0.07%-0.39 %      0.16%-1.69 %
Contractual term (years)     1.00       1.00       1.00-8.00  
Expected volatility     74%-85 %     90%-148 %      78%-143.8 %
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:

  

    2022     2021  
Contingent Consideration                
Beginning balance - January 1,   $ -     $ -  
Contingent consideration assumed in BlueLA acquisition     3,814       -  
Change in fair value of contingent consideration     (2,498 )     -  
Ending balance - December 31,   $ 1,316     $ -  
                 
Warrant Liability                
Beginning balance - January 1   $ 90     $ 159  
Change in fair value of warrant liability     (66 )     (69 )
Ending balance - December 31,   $ 24     $ 90  
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, 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  

 

    December 31, 2021  
    Level 1     Level 2     Level 3     Total  
Assets:                                
Alternative fuel credits   $ -     $ 58     $ -     $ 58  
Total assets   $ -     $ 58     $ -     $ 58  
                                 
Liabilities:                                
Common stock liability   $ 364     $ -     $ -     $ 364  
Warrant liability     -       -       90       90  
Total liabilities   $ 364     $ -     $ 90     $ 454