Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value

The following table presents the Company’s assets and liabilities that are measured and recognized at fair value on a recurring basis classified under the appropriate level of the fair value hierarchy as of March 31, 2023.

	As of March 31, 2023				Fair Value Measurements As of March 31, 2023
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Assets:
Money Market Funds in Cash Equivalents	$	5,879,977	$	5,879,977	$	5,879,977	$	—	$	—
Liabilities:
Debt:
Secured Convertible Notes		11,392,167		11,392,167		—		—		11,392,167
SWK Loans		17,057,110		17,057,110		—		—		17,057,110
	$	28,449,277	$	28,449,277	$	—	$	—	$	28,449,277

	As of December 31, 2022				Fair Value Measurements As of December 31, 2022
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Assets:
Money Market Funds in Cash Equivalents	$	1,829,218	$	1,829,218	$	1,829,218	$	—	$	—
Liabilities:
Debt:
Secured Convertible Notes		6,360,600		6,360,600		—		—		6,360,600
SWK Loans		5,567,231		5,567,231		—		—		5,567,231
	$	11,927,831	$	11,927,831	$	—	$	—	$	11,927,831

Schedule of Change in Fair Value

	December 31, 2022		Loan Received		Payments			Accretion/ Interest Accrued		Adjustment to Fair Value Mark to Market			March 31, 2023
Marathon Convertible Notes (1)	$	6,360,600	$	—	$	—		$	96,165	$	5,344,635	(2)	$	11,801,400
SWK Loans		5,567,231		7,000,000		(322,306	)		—		4,812,185	(3)		17,057,110
	$	11,927,831	$	7,000,000	$	(322,306	)	$	96,165	$	10,156,820		$	28,858,510

(1) Marathon Convertible Notes were recorded as $0.4 million in accrued interest expenses and $11.4 million in convertible note payable, at fair value in the Company’s balance sheet at March 31, 2023.

(2) The Adjustment to Fair Value for the Marathon Convertible Notes during the three months ended March 31, 2023, includes $5.0 million of increase in the post-modification cash flows of the instrument, which was recognized as a loss on extinguishment during the period.

(3) The Adjustment to Fair Value for the SWK Loans during the three months ended March 31, 2023, includes $2.7 million of increase in the post-modification cash flows of the instrument, which was recognized as a loss on extinguishment during the period.

	December 31, 2021		Loan Received		Payments		Accretion/ Interest Accrued		Adjustment to Fair Value Mark to Market		March 31, 2022
Marathon Convertible Notes	$	—	$	6,000,000	$	—	$	—	$	962,400	$	6,962,400
SWK Loans		—		6,172,969		—		—		—		6,172,969
	$	—	$	12,172,969	$	—	$	—	$	962,400	$	13,135,369