Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.24.2.u1
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2024
Summary of Significant Accounting Policies [Abstract]  
Schedule of Fair Value Hierarchy of Financial Liabilities Measured at Fair Value The following table summarizes the fair value hierarchy of financial liabilities measured at fair value as of June 30, 2024 (in thousands):
    Quoted
Prices in
Active
Markets for
Identical
Assets
    Significant
Other
Observable
Inputs
    Significant
Unobservable
Inputs
       
    (Level 1)     (Level 2)     (Level 3)     Total  
Warrant liability   $
          -
    $
         -
    $ 8,131     $ 8,131  
Total liabilities at fair value   $
-
    $
-
    $ 8,131     $ 8,131  
The following table summarizes the fair value hierarchy of financial liabilities measured at fair value as of December 31, 2023 (in thousands):
    Quoted
Prices in
Active
Markets for
Identical
Assets
    Significant
Other
Observable
Inputs
    Significant
Unobservable
Inputs
       
    (Level 1)     (Level 2)     (Level 3)     Total  
Warrant liability   $
        -
    $
         -
    $ 13,134     $ 13,134  
Total liabilities at fair value   $
-
    $
-
    $ 13,134     $ 13,134  

 

Schedule of Changes in Fair Value of the Warrant Liability Classified in Level 3 The following table summarizes the changes in fair value of the warrant liability classified in Level 3. Gains and losses reported in this table include changes in fair value that are attributable to unobservable inputs (in thousands):
    Six Months Ended
June 30,
2024
 
Fair value at January 1, 2023   $
-
 
Issuance of Warrants (March 3, 2023)     2,831  
Change in fair value of Warrants     10,375  
Fair value at March 31, 2023     13,206  
Change in fair value of warrants     (282 )
Fair value at June 30, 2023   $ 12,924  
         
Fair value at January 1, 2024   $ 13,134  
Change in fair value of warrants     11,807  
Fair value at March 31, 2024     24,941  
Change in fair value of warrants     (16,810 )
Fair value at June 30, 2024   $ 8,131