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1. Description of Business Stereotaxis is a pioneer and global leader in surgical robotics for minimally invasive endovascular intervention. We design, manufacture and market robotic systems, instruments and information systems for the interventional laboratory. Our proprietary robotic technology, Robotic Magnetic Navigation, fundamentally transforms endovascular interventions using precise computer-controlled magnetic fields to directly control the tip of flexible interventional catheters or devices. Direct control of the tip of an interventional device, in contrast to all manual hand-held devices that are controlled from their handle, can improve the precision, stability, reach and safety of these devices during procedures. Our primary clinical focus has been electrophysiology, specifically cardiac ablation procedures for the treatment of arrhythmias. Cardiac ablation has become a well-accepted therapy for arrhythmias and a multi-billion-dollar medical device market with expectations for substantial long-term growth. We have shared our aspiration and a product strategy to expand the clinical focus of our technology to several additional endovascular indications including coronary, neuro, and peripheral interventions. There is substantial real-world evidence and clinical literature for Robotic Magnetic Navigation in electrophysiology. Hundreds of electrophysiologists at over one hundred hospitals globally have treated over 100,000 arrhythmia patients with our robotic technology. Clinical use of our technology has been documented in over 400 clinical publications. Robotic Magnetic Navigation is designed to enable physicians to complete more complex interventional procedures with greater success and safety by providing image-guided delivery of catheters through the blood vessels and chambers of the heart to treatment sites. This is achieved using externally applied computer-controlled magnetic fields that govern the motion of the working tip of the catheter, resulting in improved navigation. The more flexible atraumatic design of catheters driven using magnetic fields may reduce the risk of patient harm and other adverse events. Performing the procedure from a control cockpit enables physicians to complete procedures in a safe location protected from x-ray exposure, with greater ergonomics, and improved efficiency. We believe these benefits can be applicable in other endovascular indications where navigation through complex vasculature is often challenging or unsuccessful and generates significant x-ray exposure. Our primary products include the Genesis RMN System, the Odyssey Solution, and other related devices. We also offer to our customers the Stereotaxis Imaging Model S x-ray System and other accessory devices. The Genesis RMN System is designed to enable physicians to complete more complex interventional procedures by providing image-guided delivery of catheters through the blood vessels and chambers of the heart to treatment sites. This is achieved using externally applied magnetic fields that govern the motion of the working tip of the catheter, resulting in improved navigation, efficient procedures, and reduced x-ray exposure. The Odyssey Solution consolidates lab information onto one large integrated display, enabling physicians to view and control all the key information in the operating room. This is designed to improve lab layout and procedure efficiency. The system also features a remote viewing and recording capability called Odyssey Cinema, which is an innovative solution that delivers synchronized content for optimized workflow, advanced care, and improved productivity. This tool includes an archiving capability that allows clinicians to store and replay entire procedures or segments of procedures. This information can be accessed from locations throughout the hospital local area network and over the global Odyssey Network providing physicians with a tool for clinical collaboration, remote consultation, and training. We promote our full suite of products in a typical hospital implementation, subject to regulatory approvals or clearances. This implementation requires a hospital to agree to an upfront capital payment and recurring payments. The upfront capital payment typically includes equipment and installation charges. The recurring payments typically include disposable costs for each procedure, equipment service costs beyond warranty period, and ongoing software updates. In hospitals where our full suite of products has not been implemented, equipment upgrade or expansion can be implemented upon purchasing of the necessary upgrade or expansion. We have received regulatory clearances and registration approvals necessary for us to market the Genesis RMN System in the U.S. and Europe, and we are in the process of obtaining necessary registrations for extending our markets in other countries. The Niobe System, Odyssey Solution, Cardiodrive, and various disposable interventional devices have received regulatory clearance in the U.S., Europe, Canada, China, Japan and various other countries. We have received the regulatory clearance, licensing and/or CE Mark approvals that allow us to market the Vdrive and Vdrive Duo Systems with the V-CAS, V-Loop and V-Sono devices in the U.S., Canada and Europe. Stereotaxis Imaging Model S x-ray System is CE marked and FDA cleared. We have strategic relationships with technology leaders and innovators in the global interventional market. Through these strategic relationships we provide compatibility between our robotic magnetic navigation system and digital imaging and 3D catheter location sensing technology, as well as disposable interventional devices. The maintenance of these strategic relationships, or the establishment of equivalent alternatives, is critical to our commercialization efforts. There are no guarantees that any existing strategic relationships will continue, and efforts are ongoing to ensure the availability of integrated systems and devices and/or equivalent alternatives. We cannot provide assurance as to the timeline of the ongoing availability of such compatible systems or our ability to obtain equivalent alternatives on competitive terms or at all.

2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited financial statements of Stereotaxis, Inc. have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q. Accordingly, they do not include all the disclosures required by GAAP for complete financial statements. In the opinion of management, they include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods presented. Operating results for the three-month period ended March 31, 2022, are not necessarily indicative of the results that may be expected for the year ending December 31, 2022, or for future operating periods. These interim financial statements and the related notes should be read in conjunction with the annual financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission (SEC) on March 10, 2022. Risks and Uncertainties The novel coronavirus COVID-19 (“COVID-19”) pandemic has resulted, and is likely to continue to result, in significant disruptions to the economy, as well as business and capital markets around the world. The full extent of the impact of the COVID-19 pandemic on our business, results of operations and financial condition will depend on numerous evolving factors that we may not be able to accurately predict. As a result of the COVID-19 outbreak, we have experienced business disruptions, including travel restrictions on us and our third-party distributors, which have negatively affected our complex sales, marketing, installation, distribution and service network relating to our products and services. The COVID-19 pandemic may continue to negatively affect demand for both our systems and our disposable products by limiting the ability of our sales personnel to maintain their customary contacts with customers as governmental authorities institute prolonged quarantines, travel restrictions, and shelter-in-place orders, or as our customers impose limitations on contacts and in-person meetings that go beyond those imposed by governmental authorities. In addition, many of our hospital customers, for whom the purchase of our system involves a significant capital purchase which may be part of a larger construction project at the customer site (typically the construction of a new building), may themselves be under economic pressures. This may cause delays or cancellations of current purchase orders and other commitments, and may exacerbate the long and variable sales and installation cycles for our robotic magnetic navigation systems. We may also experience significant reductions in demand for our disposable products as our healthcare customers (physicians and hospitals) continue to re-prioritize the treatment of patients and divert resources away from non-coronavirus areas, which we anticipate will lead to the performance of fewer procedures in which our disposable products are used. In addition, patients may consider foregoing or deferring procedures utilizing our products, even if physicians and hospitals are willing to perform them, which could also reduce demand for, and sales of, our disposable products. As of the date of the filing of this Quarterly Report on Form 10-Q, we believe our manufacturing operations and supply chains have been manageably impacted, but we cannot guarantee that they will not be impacted more severely in the future. If our manufacturing operations or supply chains are materially interrupted, it may not be possible for us to timely manufacture relevant products at required levels, or at all. Changes in economic conditions and supply chain constraints could lead to higher inflation than previously experienced or expected, which could, in turn, lead to an increase in costs. We may be unable to raise the prices of our products sufficiently to keep up with the rate of inflation. A material reduction or interruption to any of our manufacturing processes or a substantial increase in costs would have a material adverse effect on our business, operating results, and financial condition. As governmental authorities around the world continue to institute prolonged mandatory closures, social distancing protocols and shelter-in-place orders, or as private parties on whom we rely to operate our business put in place their own protocols that go beyond those instituted by relevant governmental authorities, our ability to adequately staff and maintain our operations or further our product development could be negatively impacted. Any disruption to the capital markets could negatively impact our ability to raise capital. If the capital markets are disrupted for an extended period of time and we need to raise additional capital, such capital may not be available on acceptable terms, or at all. Continued disruptions to the capital markets and other financing sources could also negatively impact our hospital customers’ ability to raise capital or otherwise obtain financing to fund their operations and capital projects. Such could result in delayed spending on current projects, a longer sales cycle for new projects where a large capital commitment is required, and decreased demand for our disposable products as well as an increased risk of customer defaults or delays in payments for our systems installation, service contracts and disposable products. We continue to evaluate and, where appropriate, take actions to reduce costs and spending across our organization. We will continue to actively monitor the situation and may take further actions that alter our business operations that may be required by federal, state, or local governmental authorities that may be implemented by our vendors, supplier or customers, or that we determine are in the best interests of our employees, customers, suppliers and stockholders. Cash and Cash Equivalents The Company considers all short-term investments purchased with original maturities of three months or less to be cash equivalents. The Company places its cash with high-credit-quality financial institutions and invests primarily in money market accounts. <p id="xdx_846_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zFx7V2EUsqkf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.5pt; text-align: justify; background-color: white">Restricted Cash Restricted cash primarily consists of cash that the Company is obligated to maintain in accordance with contractual obligations. The Company’s restricted cash was $1.8 million and $1.4 million at March 31, 2022 and December 31, 2021, respectively. Financial Instruments Financial instruments consist of cash and cash equivalents, restricted cash, accounts receivable, accounts payable, and debt. The carrying value of such amounts reported at the applicable balance sheet dates approximates fair value. The Company measures certain financial assets and liabilities at fair value on a recurring basis. General accounting principles for fair value measurement established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (“Level 1”) and the lowest priority to unobservable inputs (“Level 3”). The Company’s financial assets consist of restricted cash and cash equivalents invested in money market funds which totaled $1.8 million and $1.4 million as of March 31, 2022 and December 31, 2021, respectively. The financial assets consisting of cash equivalents invested in money market funds are classified as Level 2 as described above and total interest income recorded for these investments was insignificant for the three months ended March 31, 2022 and 2021. As of March 31, 2022 and 2021, the Company did not have any financial liabilities valued at fair value on a recurring basis. Revenue and Costs of Revenue The Company accounts for revenue in accordance with Accounting Standards Codification Topic 606 (“ASC 606”), “Revenue from Contracts with Customers”. We generate revenue from initial capital sales of systems as well as recurring revenue from the sale of our proprietary disposable devices, from royalties paid to the Company on the sale by Biosense Webster of co-developed catheters, and from revenue including ongoing software updates and service contracts. We account for a contract with a customer when there is a legally enforceable contract between the Company and the customer, the rights of the parties are identified, the contract has commercial substance, and collectability of the contract consideration is probable. We record our revenue based on consideration specified in the contract with each customer, net of any taxes collected from customers that are remitted to government authorities. For contracts containing multiple products and services, the Company accounts for individual products and services as separate performance obligations if they are distinct, which is if a product or service is separately identifiable from other items in the bundled package, and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The Company recognizes revenues as the performance obligations are satisfied by transferring control of the product or service to a customer. For arrangements with multiple performance obligations, revenue is allocated to each performance obligation based on its relative standalone selling price. Standalone selling prices are based on observable prices at which the Company separately sells the products or services. If a standalone selling price is not directly observable, then the Company estimates the standalone selling price considering market conditions and entity-specific factors including, but not limited to, features and functionality of the products and services and market conditions. The Company regularly reviews standalone selling prices and updates these estimates if necessary. Our revenue recognition policy affects the following revenue streams in our business as follows: Systems: Contracts related to the sale of systems typically contain separate obligations for the delivery of system(s), installation and an implied obligation to provide software enhancements if and when available for one year following installation. Revenue is recognized when the Company transfers control to the customer, which is generally at the point when acceptance occurs that indicates customer acknowledgment of delivery or installation, depending on the terms of the arrangement. Revenue from the implied obligation to deliver software enhancements if and when available is recognized ratably over the first year following installation of the system as the customer receives the right to software enhancements throughout the period and is included in Other Recurring Revenue. The Company’s system contracts do not provide a right of return. Systems are generally covered by a one-year assurance type warranty; warranty costs were less than $0.1 million for the three months ended March 31, 2022 and 2021. Revenue from system delivery and installation represented <span id="xdx_90E_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenueFromSystemDeliveryAndInstallationMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zDUpGM55ufKe">23% and <span id="xdx_90E_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20210101__20210331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenueFromSystemDeliveryAndInstallationMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zQJFPlnoiGB9" title="Concentration risk percentage">30% of revenue for the three months ended March 31, 2022 and 2021, respectively. Disposables: Revenue from sales of disposable products is recognized when control is transferred to the customers, which generally occurs at the time of shipment, but can also occur at the time of delivery depending on the customer arrangement. Disposable products are covered by an assurance type warranty that provides for the return of defective products. Warranty costs were not material for the three months ended March 31, 2022 and 2021. Disposable revenue represented <span id="xdx_90A_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--DisposableRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zKTrwjfhcLd5">29% and <span id="xdx_90D_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20210101__20210331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--DisposableRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_z7pByYErjuR5">24% of revenue for the three months ended March 31, 2022 and 2021, respectively. Royalty: The Company is entitled to royalty payments from Biosense Webster, payable quarterly based on net revenues from sales of the co-developed catheters. Royalty revenue from the co-developed catheters represented <span id="xdx_907_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RoyaltyRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_z1wccytkdmN9">8% and <span id="xdx_90D_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20210101__20210331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RoyaltyRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zbe3N9uMhpr6">7% of revenue for the three-month periods ended March 31, 2022 and 2021, respectively. Other Recurring Revenue: Other recurring revenue includes revenue from product maintenance plans, other post warranty maintenance, and the implied obligation to provide software enhancements if and when available for a specified period, typically one year following installation of our systems. Revenue from services and software enhancements is deferred and amortized over the service or update period, which is typically one year. Revenue related to services performed on a time-and-materials basis is recognized when performed. Other recurring revenue represented <span id="xdx_906_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--OtherRecurringRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zhTfyxJPXAWj">40% and <span id="xdx_907_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20210101__20210331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--OtherRecurringRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_z1nyn8AUINw9">36% of revenue for the three months ended March 31, 2022 and 2021, respectively. Sublease Revenue: A portion of our former principal executive office was subleased to a third party through 2021. The sublease ended December 31, 2021. In accordance with Accounting Standards Update (ASU) 2016-02, “Leases” (Topic 842), the Company recorded sublease income as revenue. Sublease revenue represented <span id="xdx_90D_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20210101__20210331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SubleaseRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zSyjdC50Cxnb">3% of revenue for the three months ended March 31, 2021. The following table summarizes the Company’s revenue for systems, disposables, service and accessories and sublease for the three months ended March 31, 2022 and 2021 (in thousands): Schedule of Revenue Disaggregated by Type <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20220101__20220331_z0kA9NQiqfJd" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20210101__20210331_z9BMIYzo0TBe" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended March 31</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--SystemsMember_zZoyodnEvsPh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Systems</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,634</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,602</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--DisposablesServiceAndAccessoriesMember_zCnUKOhFW32d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Disposables, service and accessories</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,403</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,774</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--SubleaseMember_zr9kTdqCPE4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Sublease</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">247</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_z1nCfEi2twKj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,037</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,623</td><td style="text-align: left"> </td></tr> </table> Transaction price allocated to remaining performance obligations relates to amounts allocated to products and services for which the revenue has not yet been recognized. A significant portion of this amount relates to the Company’s systems contracts and obligations that will be recognized as revenue in future periods. These obligations are generally satisfied within two years after contract inception but may occasionally extend longer. Transaction price representing revenue to be earned on remaining performance obligations on system contracts was approximately $9.4 million as of March 31, 2022. Performance obligations arising from contracts for disposables, royalty and service are generally expected to be satisfied within one year after entering into the contract. The following table summarizes the Company’s contract assets and liabilities (in thousands): Summary of Contract Assets and Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20220331_z63XPfNfRlgg" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20211231_zl9uZg3H4x92" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--ContractWithCustomerAssetNet_iI_zwCVum9oXij" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Contract Assets - unbilled receivables</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">165</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">178</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--ContractWithCustomerLiability_iI_hsrt--ProductOrServiceAxis__custom--CustomerDepositsMember_zQkRdKp7egA4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Customer deposits</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">573</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">925</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ContractWithCustomerLiability_iI_hsrt--ProductOrServiceAxis__custom--ProductShippedRevenueDeferredMember_zA3D0G1s5tw2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Product shipped, revenue deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,041</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,794</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerLiability_iI_hsrt--ProductOrServiceAxis__custom--DeferredServiceAndLicenseFeesMember_zE8GieMWKKOa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Deferred service and license fees</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,797</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,796</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerLiability_iI_zmISb8DwlHq7" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Total deferred revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,411</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,515</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ContractWithCustomerLiabilityNoncurrent_iNI_di_ztZFlUaSF0V1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1.5pt">Less: Long-term deferred revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,076</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,238</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_z9J7mrwSZRh6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Total current deferred revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,335</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,277</td><td style="text-align: left"> </td></tr> </table> The Company invoices its customers based on the billing schedules in its sales arrangements. Contract assets primarily represent the difference between the revenue that was earned but not billed on service contracts and revenue from system contracts that was recognized based on the relative selling price of the related performance obligations and the contractual billing terms in the arrangements. Customer deposits primarily relate to future system sales but can also include deposits on disposable sales. Deferred revenue is primarily related to service contracts, for which the service fees are billed up-front, generally quarterly or annually, and for amounts billed in advance for system contracts for which some performance obligations remain outstanding. For service contracts, the associated deferred revenue is generally recognized ratably over the service period. For system contracts, the associated deferred revenue is recognized when the remaining performance obligations are satisfied. The Company did not have any impairment losses on its contract assets for the periods presented. Revenue recognized for the three months ended March 31, 2022 and 2021, that was included in the deferred revenue balance at the beginning of each reporting period was $3.2 million and $2.6 million, respectively. Assets Recognized from the Costs to Obtain a Contract with a Customer The Company has determined that sales incentive programs for the Company’s sales team meet the requirements to be capitalized as the Company expects to generate future economic benefits from the related revenue generating contracts after the initial capital sales transaction. The costs capitalized as contract acquisition costs included in prepaid expenses and other assets, in the Company’s balance sheet was $0.2 million as of March 31, 2022 and December 31, 2021. The Company did not incur any impairment losses during any of the periods presented. Costs of systems revenue include direct product costs, installation labor and other costs, estimated warranty costs, and initial training and product maintenance costs. These costs are recognized at the time of sale. Costs of disposable revenue include direct product costs and estimated warranty costs and are recognized at the time of sale. Cost of revenue from services and license fees are recognized when incurred. Stock-Based Compensation The Company accounts for its grants of stock options, stock appreciation rights, restricted shares, restricted stock units and for its employee stock purchase plan in accordance with the provisions of general accounting principles for share-based payments. These accounting principles require the determination of the fair value of the share-based compensation at the grant date and the recognition of the related expense over the period in which the share-based compensation vests. For time-based awards, the Company utilizes the Black-Scholes valuation model to determine the fair value of stock options and stock appreciation rights at the date of grant. The resulting compensation expense is recognized over the requisite service period, which is generally four years. Restricted shares and units granted to employees are valued at the fair market value at the date of grant. The Company amortizes the fair market value to expense over the service period. If the shares are subject to performance objectives, the resulting compensation expense is amortized over the anticipated vesting period and is subject to adjustment based on the actual achievement of objectives. For market-based awards, stock-based compensation expense is recognized over the minimum service period regardless of whether or not the market target is probable of being achieved. The fair value of such awards is estimated on the grant date using Monte Carlo simulations. Shares purchased by employees under the 2009 Employee Stock Purchase Plan are considered to be non-compensatory. Net Earnings (Loss) per Common Share Basic earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. In periods where there is net income, we apply the two-class method to calculate basic and diluted net income (loss) per share of common stock, as our convertible preferred stock is a participating security. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that otherwise would have been available to common stockholders. In periods where there is a net loss, the two-class method of computing earnings per share does not apply as our convertible preferred stock does not contractually participate in our losses. We compute diluted net income (loss) per common share using net income (loss) as the “control number” in determining whether potential common shares are dilutive, after giving consideration to all potentially dilutive common shares, including stock options, warrants, unvested restricted stock units outstanding during the period and potential issuance of stock upon the conversion of our convertible preferred stock issued and outstanding during the period, except where the effect of such securities would be antidilutive. The following table sets forth the computation of basic and diluted EPS (in thousands except for share and per share amounts): Schedule of Computation of Basic and Diluted Earnings Per Share <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20220101__20220331_z5kYJbRPqwDk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20210101__20210331_zoBylheuNVj9" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLoss_zVlA1BVRQyYi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">(4,086</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">(1,532</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--PreferredStockDividendsIncomeStatementImpact_iN_di_zbzEIZVBrjk8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Cumulative dividend on Series A Convertible Preferred Stock</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(331</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(333</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zSGWXdRswjn5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss attributable to common stockholders</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,417</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,865</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_z3HLJUZ9JqY3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average number of common shares and equivalents:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75,877,391</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75,175,412</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--EarningsPerShareBasic_pid_z57icHgFIggg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic EPS</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.06</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.02</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--EarningsPerShareDiluted_pid_z1XCM2sIhpce" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Diluted EPS</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.06</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.02</td><td style="text-align: left">)</td></tr> </table> The Company did not include any portion of unearned restricted shares, outstanding options, stock appreciation rights, warrants or convertible preferred stock in the calculation of diluted loss per common share because all such securities are anti-dilutive for all periods presented. The application of the two-class method of computing earnings per share under general accounting principles for participating securities is not applicable during these periods because those securities do not contractually participate in its losses. As of March 31, 2022, the Company had <span id="xdx_909_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20220101__20220331__us-gaap--AwardTypeAxis__custom--StockOptionsandStockAppreciationRightsMember_zDGv1lQlPEEg" title="Potential common shares excluded from diluted earnings per share">3,481,866 shares of common stock issuable upon the exercise of outstanding options and stock appreciation rights at a weighted average exercise price of $<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20220331__us-gaap--AwardTypeAxis__custom--StockOptionsandStockAppreciationRightsMember_zHPZbYThQUcj" title="Weighted average exercise price">4.23 per share, <span id="xdx_90B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20220101__20220331__us-gaap--StatementEquityComponentsAxis__custom--SeriesAConvertiblePreferredStockMember_zdbkZuV2iuE5" title="Potential common shares excluded from diluted earnings per share">45,813,689 shares of our common stock issuable upon conversion of our Series A Convertible Preferred Stock, <span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20220101__20220331__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember_zXSf4T8SrzPi" title="Potential common shares excluded from diluted earnings per share">5,610,121 shares of our common stock issuable upon conversion of our Series B Convertible Preferred Stock and <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zjVda6Wuu0Sh" title="Number of unvested restricted share units">1,215,604 shares of unvested restricted share units. The Company had no unearned restricted shares outstanding as of March 31, 2022. Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments” and also issued subsequent amendments to the initial guidance under ASU 2018-19, ASU 2019-04 and ASU 2019-05. The standard modifies the measurement approach for credit losses on financial instruments, including trade receivables, from an incurred loss method to a current expected credit loss method, otherwise known as “CECL.” The standard requires the measurement of expected credit losses to be based on relevant information, including historical experience, current conditions and a forecast that is supportable. The standard is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years; early adoption is permitted. The standard must be adopted by applying a cumulative adjustment to retained earnings. The Company anticipates adopting the standard in the first quarter of 2023, although it does not expect a significant impact to the Company’s financial results.

Basis of Presentation The accompanying unaudited financial statements of Stereotaxis, Inc. have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q. Accordingly, they do not include all the disclosures required by GAAP for complete financial statements. In the opinion of management, they include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods presented. Operating results for the three-month period ended March 31, 2022, are not necessarily indicative of the results that may be expected for the year ending December 31, 2022, or for future operating periods. These interim financial statements and the related notes should be read in conjunction with the annual financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission (SEC) on March 10, 2022.

Risks and Uncertainties The novel coronavirus COVID-19 (“COVID-19”) pandemic has resulted, and is likely to continue to result, in significant disruptions to the economy, as well as business and capital markets around the world. The full extent of the impact of the COVID-19 pandemic on our business, results of operations and financial condition will depend on numerous evolving factors that we may not be able to accurately predict. As a result of the COVID-19 outbreak, we have experienced business disruptions, including travel restrictions on us and our third-party distributors, which have negatively affected our complex sales, marketing, installation, distribution and service network relating to our products and services. The COVID-19 pandemic may continue to negatively affect demand for both our systems and our disposable products by limiting the ability of our sales personnel to maintain their customary contacts with customers as governmental authorities institute prolonged quarantines, travel restrictions, and shelter-in-place orders, or as our customers impose limitations on contacts and in-person meetings that go beyond those imposed by governmental authorities. In addition, many of our hospital customers, for whom the purchase of our system involves a significant capital purchase which may be part of a larger construction project at the customer site (typically the construction of a new building), may themselves be under economic pressures. This may cause delays or cancellations of current purchase orders and other commitments, and may exacerbate the long and variable sales and installation cycles for our robotic magnetic navigation systems. We may also experience significant reductions in demand for our disposable products as our healthcare customers (physicians and hospitals) continue to re-prioritize the treatment of patients and divert resources away from non-coronavirus areas, which we anticipate will lead to the performance of fewer procedures in which our disposable products are used. In addition, patients may consider foregoing or deferring procedures utilizing our products, even if physicians and hospitals are willing to perform them, which could also reduce demand for, and sales of, our disposable products. As of the date of the filing of this Quarterly Report on Form 10-Q, we believe our manufacturing operations and supply chains have been manageably impacted, but we cannot guarantee that they will not be impacted more severely in the future. If our manufacturing operations or supply chains are materially interrupted, it may not be possible for us to timely manufacture relevant products at required levels, or at all. Changes in economic conditions and supply chain constraints could lead to higher inflation than previously experienced or expected, which could, in turn, lead to an increase in costs. We may be unable to raise the prices of our products sufficiently to keep up with the rate of inflation. A material reduction or interruption to any of our manufacturing processes or a substantial increase in costs would have a material adverse effect on our business, operating results, and financial condition. As governmental authorities around the world continue to institute prolonged mandatory closures, social distancing protocols and shelter-in-place orders, or as private parties on whom we rely to operate our business put in place their own protocols that go beyond those instituted by relevant governmental authorities, our ability to adequately staff and maintain our operations or further our product development could be negatively impacted. Any disruption to the capital markets could negatively impact our ability to raise capital. If the capital markets are disrupted for an extended period of time and we need to raise additional capital, such capital may not be available on acceptable terms, or at all. Continued disruptions to the capital markets and other financing sources could also negatively impact our hospital customers’ ability to raise capital or otherwise obtain financing to fund their operations and capital projects. Such could result in delayed spending on current projects, a longer sales cycle for new projects where a large capital commitment is required, and decreased demand for our disposable products as well as an increased risk of customer defaults or delays in payments for our systems installation, service contracts and disposable products. We continue to evaluate and, where appropriate, take actions to reduce costs and spending across our organization. We will continue to actively monitor the situation and may take further actions that alter our business operations that may be required by federal, state, or local governmental authorities that may be implemented by our vendors, supplier or customers, or that we determine are in the best interests of our employees, customers, suppliers and stockholders.

Cash and Cash Equivalents The Company considers all short-term investments purchased with original maturities of three months or less to be cash equivalents. The Company places its cash with high-credit-quality financial institutions and invests primarily in money market accounts.

<p id="xdx_846_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zFx7V2EUsqkf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.5pt; text-align: justify; background-color: white">Restricted Cash Restricted cash primarily consists of cash that the Company is obligated to maintain in accordance with contractual obligations. The Company’s restricted cash was $1.8 million and $1.4 million at March 31, 2022 and December 31, 2021, respectively.

1800000

1400000

Financial Instruments Financial instruments consist of cash and cash equivalents, restricted cash, accounts receivable, accounts payable, and debt. The carrying value of such amounts reported at the applicable balance sheet dates approximates fair value. The Company measures certain financial assets and liabilities at fair value on a recurring basis. General accounting principles for fair value measurement established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (“Level 1”) and the lowest priority to unobservable inputs (“Level 3”). The Company’s financial assets consist of restricted cash and cash equivalents invested in money market funds which totaled $1.8 million and $1.4 million as of March 31, 2022 and December 31, 2021, respectively. The financial assets consisting of cash equivalents invested in money market funds are classified as Level 2 as described above and total interest income recorded for these investments was insignificant for the three months ended March 31, 2022 and 2021. As of March 31, 2022 and 2021, the Company did not have any financial liabilities valued at fair value on a recurring basis.

1800000

1400000

Revenue and Costs of Revenue The Company accounts for revenue in accordance with Accounting Standards Codification Topic 606 (“ASC 606”), “Revenue from Contracts with Customers”. We generate revenue from initial capital sales of systems as well as recurring revenue from the sale of our proprietary disposable devices, from royalties paid to the Company on the sale by Biosense Webster of co-developed catheters, and from revenue including ongoing software updates and service contracts. We account for a contract with a customer when there is a legally enforceable contract between the Company and the customer, the rights of the parties are identified, the contract has commercial substance, and collectability of the contract consideration is probable. We record our revenue based on consideration specified in the contract with each customer, net of any taxes collected from customers that are remitted to government authorities. For contracts containing multiple products and services, the Company accounts for individual products and services as separate performance obligations if they are distinct, which is if a product or service is separately identifiable from other items in the bundled package, and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The Company recognizes revenues as the performance obligations are satisfied by transferring control of the product or service to a customer. For arrangements with multiple performance obligations, revenue is allocated to each performance obligation based on its relative standalone selling price. Standalone selling prices are based on observable prices at which the Company separately sells the products or services. If a standalone selling price is not directly observable, then the Company estimates the standalone selling price considering market conditions and entity-specific factors including, but not limited to, features and functionality of the products and services and market conditions. The Company regularly reviews standalone selling prices and updates these estimates if necessary. Our revenue recognition policy affects the following revenue streams in our business as follows: Systems: Contracts related to the sale of systems typically contain separate obligations for the delivery of system(s), installation and an implied obligation to provide software enhancements if and when available for one year following installation. Revenue is recognized when the Company transfers control to the customer, which is generally at the point when acceptance occurs that indicates customer acknowledgment of delivery or installation, depending on the terms of the arrangement. Revenue from the implied obligation to deliver software enhancements if and when available is recognized ratably over the first year following installation of the system as the customer receives the right to software enhancements throughout the period and is included in Other Recurring Revenue. The Company’s system contracts do not provide a right of return. Systems are generally covered by a one-year assurance type warranty; warranty costs were less than $0.1 million for the three months ended March 31, 2022 and 2021. Revenue from system delivery and installation represented <span id="xdx_90E_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenueFromSystemDeliveryAndInstallationMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zDUpGM55ufKe">23% and <span id="xdx_90E_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20210101__20210331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenueFromSystemDeliveryAndInstallationMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zQJFPlnoiGB9" title="Concentration risk percentage">30% of revenue for the three months ended March 31, 2022 and 2021, respectively. Disposables: Revenue from sales of disposable products is recognized when control is transferred to the customers, which generally occurs at the time of shipment, but can also occur at the time of delivery depending on the customer arrangement. Disposable products are covered by an assurance type warranty that provides for the return of defective products. Warranty costs were not material for the three months ended March 31, 2022 and 2021. Disposable revenue represented <span id="xdx_90A_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--DisposableRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zKTrwjfhcLd5">29% and <span id="xdx_90D_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20210101__20210331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--DisposableRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_z7pByYErjuR5">24% of revenue for the three months ended March 31, 2022 and 2021, respectively. Royalty: The Company is entitled to royalty payments from Biosense Webster, payable quarterly based on net revenues from sales of the co-developed catheters. Royalty revenue from the co-developed catheters represented <span id="xdx_907_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RoyaltyRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_z1wccytkdmN9">8% and <span id="xdx_90D_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20210101__20210331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RoyaltyRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zbe3N9uMhpr6">7% of revenue for the three-month periods ended March 31, 2022 and 2021, respectively. Other Recurring Revenue: Other recurring revenue includes revenue from product maintenance plans, other post warranty maintenance, and the implied obligation to provide software enhancements if and when available for a specified period, typically one year following installation of our systems. Revenue from services and software enhancements is deferred and amortized over the service or update period, which is typically one year. Revenue related to services performed on a time-and-materials basis is recognized when performed. Other recurring revenue represented <span id="xdx_906_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--OtherRecurringRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zhTfyxJPXAWj">40% and <span id="xdx_907_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20210101__20210331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--OtherRecurringRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_z1nyn8AUINw9">36% of revenue for the three months ended March 31, 2022 and 2021, respectively. Sublease Revenue: A portion of our former principal executive office was subleased to a third party through 2021. The sublease ended December 31, 2021. In accordance with Accounting Standards Update (ASU) 2016-02, “Leases” (Topic 842), the Company recorded sublease income as revenue. Sublease revenue represented <span id="xdx_90D_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20210101__20210331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SubleaseRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zSyjdC50Cxnb">3% of revenue for the three months ended March 31, 2021. The following table summarizes the Company’s revenue for systems, disposables, service and accessories and sublease for the three months ended March 31, 2022 and 2021 (in thousands): Schedule of Revenue Disaggregated by Type <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20220101__20220331_z0kA9NQiqfJd" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20210101__20210331_z9BMIYzo0TBe" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended March 31</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--SystemsMember_zZoyodnEvsPh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Systems</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,634</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,602</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--DisposablesServiceAndAccessoriesMember_zCnUKOhFW32d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Disposables, service and accessories</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,403</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,774</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--SubleaseMember_zr9kTdqCPE4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Sublease</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">247</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_z1nCfEi2twKj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,037</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,623</td><td style="text-align: left"> </td></tr> </table> Transaction price allocated to remaining performance obligations relates to amounts allocated to products and services for which the revenue has not yet been recognized. A significant portion of this amount relates to the Company’s systems contracts and obligations that will be recognized as revenue in future periods. These obligations are generally satisfied within two years after contract inception but may occasionally extend longer. Transaction price representing revenue to be earned on remaining performance obligations on system contracts was approximately $9.4 million as of March 31, 2022. Performance obligations arising from contracts for disposables, royalty and service are generally expected to be satisfied within one year after entering into the contract. The following table summarizes the Company’s contract assets and liabilities (in thousands): Summary of Contract Assets and Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20220331_z63XPfNfRlgg" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20211231_zl9uZg3H4x92" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--ContractWithCustomerAssetNet_iI_zwCVum9oXij" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Contract Assets - unbilled receivables</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">165</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">178</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--ContractWithCustomerLiability_iI_hsrt--ProductOrServiceAxis__custom--CustomerDepositsMember_zQkRdKp7egA4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Customer deposits</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">573</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">925</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ContractWithCustomerLiability_iI_hsrt--ProductOrServiceAxis__custom--ProductShippedRevenueDeferredMember_zA3D0G1s5tw2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Product shipped, revenue deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,041</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,794</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerLiability_iI_hsrt--ProductOrServiceAxis__custom--DeferredServiceAndLicenseFeesMember_zE8GieMWKKOa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Deferred service and license fees</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,797</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,796</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerLiability_iI_zmISb8DwlHq7" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Total deferred revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,411</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,515</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ContractWithCustomerLiabilityNoncurrent_iNI_di_ztZFlUaSF0V1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1.5pt">Less: Long-term deferred revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,076</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,238</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_z9J7mrwSZRh6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Total current deferred revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,335</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,277</td><td style="text-align: left"> </td></tr> </table> The Company invoices its customers based on the billing schedules in its sales arrangements. Contract assets primarily represent the difference between the revenue that was earned but not billed on service contracts and revenue from system contracts that was recognized based on the relative selling price of the related performance obligations and the contractual billing terms in the arrangements. Customer deposits primarily relate to future system sales but can also include deposits on disposable sales. Deferred revenue is primarily related to service contracts, for which the service fees are billed up-front, generally quarterly or annually, and for amounts billed in advance for system contracts for which some performance obligations remain outstanding. For service contracts, the associated deferred revenue is generally recognized ratably over the service period. For system contracts, the associated deferred revenue is recognized when the remaining performance obligations are satisfied. The Company did not have any impairment losses on its contract assets for the periods presented. Revenue recognized for the three months ended March 31, 2022 and 2021, that was included in the deferred revenue balance at the beginning of each reporting period was $3.2 million and $2.6 million, respectively.

100000

0.23 0.30 0.29 0.24 0.08 0.07 0.40 0.36 0.03

The following table summarizes the Company’s revenue for systems, disposables, service and accessories and sublease for the three months ended March 31, 2022 and 2021 (in thousands): Schedule of Revenue Disaggregated by Type <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20220101__20220331_z0kA9NQiqfJd" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20210101__20210331_z9BMIYzo0TBe" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended March 31</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--SystemsMember_zZoyodnEvsPh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Systems</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,634</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,602</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--DisposablesServiceAndAccessoriesMember_zCnUKOhFW32d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Disposables, service and accessories</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,403</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,774</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--SubleaseMember_zr9kTdqCPE4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Sublease</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">247</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_z1nCfEi2twKj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,037</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,623</td><td style="text-align: left"> </td></tr> </table>

1634000

2602000

5403000

5774000

247000

7037000

8623000

9400000

The following table summarizes the Company’s contract assets and liabilities (in thousands): Summary of Contract Assets and Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20220331_z63XPfNfRlgg" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20211231_zl9uZg3H4x92" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--ContractWithCustomerAssetNet_iI_zwCVum9oXij" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Contract Assets - unbilled receivables</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">165</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">178</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--ContractWithCustomerLiability_iI_hsrt--ProductOrServiceAxis__custom--CustomerDepositsMember_zQkRdKp7egA4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Customer deposits</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">573</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">925</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ContractWithCustomerLiability_iI_hsrt--ProductOrServiceAxis__custom--ProductShippedRevenueDeferredMember_zA3D0G1s5tw2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Product shipped, revenue deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,041</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,794</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerLiability_iI_hsrt--ProductOrServiceAxis__custom--DeferredServiceAndLicenseFeesMember_zE8GieMWKKOa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Deferred service and license fees</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,797</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,796</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerLiability_iI_zmISb8DwlHq7" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Total deferred revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,411</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,515</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ContractWithCustomerLiabilityNoncurrent_iNI_di_ztZFlUaSF0V1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1.5pt">Less: Long-term deferred revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,076</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,238</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_z9J7mrwSZRh6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Total current deferred revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,335</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,277</td><td style="text-align: left"> </td></tr> </table>

165000

178000

573000

925000

2041000

1794000

5797000

5796000

8411000

8515000

2076000

2238000

6335000

6277000

3200000

2600000

Assets Recognized from the Costs to Obtain a Contract with a Customer The Company has determined that sales incentive programs for the Company’s sales team meet the requirements to be capitalized as the Company expects to generate future economic benefits from the related revenue generating contracts after the initial capital sales transaction. The costs capitalized as contract acquisition costs included in prepaid expenses and other assets, in the Company’s balance sheet was $0.2 million as of March 31, 2022 and December 31, 2021. The Company did not incur any impairment losses during any of the periods presented. Costs of systems revenue include direct product costs, installation labor and other costs, estimated warranty costs, and initial training and product maintenance costs. These costs are recognized at the time of sale. Costs of disposable revenue include direct product costs and estimated warranty costs and are recognized at the time of sale. Cost of revenue from services and license fees are recognized when incurred.

200000

Stock-Based Compensation The Company accounts for its grants of stock options, stock appreciation rights, restricted shares, restricted stock units and for its employee stock purchase plan in accordance with the provisions of general accounting principles for share-based payments. These accounting principles require the determination of the fair value of the share-based compensation at the grant date and the recognition of the related expense over the period in which the share-based compensation vests. For time-based awards, the Company utilizes the Black-Scholes valuation model to determine the fair value of stock options and stock appreciation rights at the date of grant. The resulting compensation expense is recognized over the requisite service period, which is generally four years. Restricted shares and units granted to employees are valued at the fair market value at the date of grant. The Company amortizes the fair market value to expense over the service period. If the shares are subject to performance objectives, the resulting compensation expense is amortized over the anticipated vesting period and is subject to adjustment based on the actual achievement of objectives. For market-based awards, stock-based compensation expense is recognized over the minimum service period regardless of whether or not the market target is probable of being achieved. The fair value of such awards is estimated on the grant date using Monte Carlo simulations. Shares purchased by employees under the 2009 Employee Stock Purchase Plan are considered to be non-compensatory.

Net Earnings (Loss) per Common Share Basic earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. In periods where there is net income, we apply the two-class method to calculate basic and diluted net income (loss) per share of common stock, as our convertible preferred stock is a participating security. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that otherwise would have been available to common stockholders. In periods where there is a net loss, the two-class method of computing earnings per share does not apply as our convertible preferred stock does not contractually participate in our losses. We compute diluted net income (loss) per common share using net income (loss) as the “control number” in determining whether potential common shares are dilutive, after giving consideration to all potentially dilutive common shares, including stock options, warrants, unvested restricted stock units outstanding during the period and potential issuance of stock upon the conversion of our convertible preferred stock issued and outstanding during the period, except where the effect of such securities would be antidilutive. The following table sets forth the computation of basic and diluted EPS (in thousands except for share and per share amounts): Schedule of Computation of Basic and Diluted Earnings Per Share <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20220101__20220331_z5kYJbRPqwDk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20210101__20210331_zoBylheuNVj9" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLoss_zVlA1BVRQyYi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">(4,086</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">(1,532</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--PreferredStockDividendsIncomeStatementImpact_iN_di_zbzEIZVBrjk8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Cumulative dividend on Series A Convertible Preferred Stock</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(331</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(333</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zSGWXdRswjn5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss attributable to common stockholders</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,417</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,865</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_z3HLJUZ9JqY3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average number of common shares and equivalents:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75,877,391</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75,175,412</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--EarningsPerShareBasic_pid_z57icHgFIggg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic EPS</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.06</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.02</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--EarningsPerShareDiluted_pid_z1XCM2sIhpce" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Diluted EPS</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.06</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.02</td><td style="text-align: left">)</td></tr> </table> The Company did not include any portion of unearned restricted shares, outstanding options, stock appreciation rights, warrants or convertible preferred stock in the calculation of diluted loss per common share because all such securities are anti-dilutive for all periods presented. The application of the two-class method of computing earnings per share under general accounting principles for participating securities is not applicable during these periods because those securities do not contractually participate in its losses. As of March 31, 2022, the Company had <span id="xdx_909_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20220101__20220331__us-gaap--AwardTypeAxis__custom--StockOptionsandStockAppreciationRightsMember_zDGv1lQlPEEg" title="Potential common shares excluded from diluted earnings per share">3,481,866 shares of common stock issuable upon the exercise of outstanding options and stock appreciation rights at a weighted average exercise price of $<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20220331__us-gaap--AwardTypeAxis__custom--StockOptionsandStockAppreciationRightsMember_zHPZbYThQUcj" title="Weighted average exercise price">4.23 per share, <span id="xdx_90B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20220101__20220331__us-gaap--StatementEquityComponentsAxis__custom--SeriesAConvertiblePreferredStockMember_zdbkZuV2iuE5" title="Potential common shares excluded from diluted earnings per share">45,813,689 shares of our common stock issuable upon conversion of our Series A Convertible Preferred Stock, <span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20220101__20220331__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember_zXSf4T8SrzPi" title="Potential common shares excluded from diluted earnings per share">5,610,121 shares of our common stock issuable upon conversion of our Series B Convertible Preferred Stock and <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zjVda6Wuu0Sh" title="Number of unvested restricted share units">1,215,604 shares of unvested restricted share units. The Company had no unearned restricted shares outstanding as of March 31, 2022.

The following table sets forth the computation of basic and diluted EPS (in thousands except for share and per share amounts): Schedule of Computation of Basic and Diluted Earnings Per Share <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20220101__20220331_z5kYJbRPqwDk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20210101__20210331_zoBylheuNVj9" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLoss_zVlA1BVRQyYi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">(4,086</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">(1,532</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--PreferredStockDividendsIncomeStatementImpact_iN_di_zbzEIZVBrjk8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Cumulative dividend on Series A Convertible Preferred Stock</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(331</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(333</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zSGWXdRswjn5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss attributable to common stockholders</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,417</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,865</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_z3HLJUZ9JqY3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average number of common shares and equivalents:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75,877,391</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75,175,412</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--EarningsPerShareBasic_pid_z57icHgFIggg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic EPS</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.06</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.02</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--EarningsPerShareDiluted_pid_z1XCM2sIhpce" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Diluted EPS</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.06</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.02</td><td style="text-align: left">)</td></tr> </table>

-4086000

-1532000

331000

333000

-4417000

-1865000

75877391

75175412

-0.06

-0.02

-0.06

-0.02

3481866

4.23

45813689

5610121

1215604

Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments” and also issued subsequent amendments to the initial guidance under ASU 2018-19, ASU 2019-04 and ASU 2019-05. The standard modifies the measurement approach for credit losses on financial instruments, including trade receivables, from an incurred loss method to a current expected credit loss method, otherwise known as “CECL.” The standard requires the measurement of expected credit losses to be based on relevant information, including historical experience, current conditions and a forecast that is supportable. The standard is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years; early adoption is permitted. The standard must be adopted by applying a cumulative adjustment to retained earnings. The Company anticipates adopting the standard in the first quarter of 2023, although it does not expect a significant impact to the Company’s financial results.

3. Inventories Inventories consist of the following (in thousands): Schedule of Inventories <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20220331_zNLsSfpqlX1j" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20211231_zDqpMxMkdMPg" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINz1fv_z1ASaBJZ1Ixi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,455</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,642</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maINz1fv_z0IWmPczl3Zc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Work in process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">830</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">133</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINz1fv_zcviedKGUgu4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Finished goods</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,782</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,823</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InventoryValuationReserves_iNI_pn3n3_di_msINz1fv_z3pVjQnOq645" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Reserve for excess and obsolescence</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,217</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,165</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--InventoryNet_iTI_pn3n3_mtINz1fv_zszhVRMLipV6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total inventory</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,850</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,433</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The reserve for excess and obsolescence primarily includes Niobe Systems and related raw materials and spare parts.

Inventories consist of the following (in thousands): Schedule of Inventories <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20220331_zNLsSfpqlX1j" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20211231_zDqpMxMkdMPg" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINz1fv_z1ASaBJZ1Ixi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,455</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,642</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maINz1fv_z0IWmPczl3Zc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Work in process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">830</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">133</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINz1fv_zcviedKGUgu4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Finished goods</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,782</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,823</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InventoryValuationReserves_iNI_pn3n3_di_msINz1fv_z3pVjQnOq645" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Reserve for excess and obsolescence</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,217</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,165</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--InventoryNet_iTI_pn3n3_mtINz1fv_zszhVRMLipV6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total inventory</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,850</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,433</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

4455000

3642000

830000

133000

1782000

2823000

2217000

2165000

4850000

4433000

4. Prepaid Expenses and Other Assets <p id="xdx_89C_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_zJEVR7hzZwUc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.35in">Prepaid expenses and other assets consist of the following (in thousands): Schedule of Prepaid Expenses and Other Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20220331_zZXMw59x4WT5" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20211231_zoQUrDCTF5I4" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--PrepaidExpenseCurrentAndNoncurrent_iI_maPEAOAzRgT_zqFk21DmSJLa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Prepaid expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">818</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,012</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--PrepaidCommissionsCurrentAndNoncurrent_iI_maPEAOAzRgT_z4bCRRalvVme" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid commissions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">218</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">229</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DepositsAssets_iI_maPEAOAzRgT_z4zwa3Savfhc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Deposits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">994</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,276</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherAssets_iI_maPEAOAzRgT_zMO0eFLAbu3c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Other assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">101</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">117</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PrepaidExpenseAndOtherAssets_iTI_mtPEAOAzRgT_zq6uSHKpccA5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total prepaid expenses and other assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,131</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,634</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PrepaidExpenseAndOtherAssetsNoncurrent_iNI_di_z5a4uecQQd0l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: Noncurrent prepaid expenses and other assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(253</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(278</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_z8iVkZqJEIdk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total current prepaid expenses and other assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,878</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,356</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_89C_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_zJEVR7hzZwUc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.35in">Prepaid expenses and other assets consist of the following (in thousands): Schedule of Prepaid Expenses and Other Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20220331_zZXMw59x4WT5" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20211231_zoQUrDCTF5I4" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--PrepaidExpenseCurrentAndNoncurrent_iI_maPEAOAzRgT_zqFk21DmSJLa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Prepaid expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">818</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,012</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--PrepaidCommissionsCurrentAndNoncurrent_iI_maPEAOAzRgT_z4bCRRalvVme" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid commissions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">218</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">229</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DepositsAssets_iI_maPEAOAzRgT_z4zwa3Savfhc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Deposits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">994</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,276</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherAssets_iI_maPEAOAzRgT_zMO0eFLAbu3c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Other assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">101</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">117</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PrepaidExpenseAndOtherAssets_iTI_mtPEAOAzRgT_zq6uSHKpccA5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total prepaid expenses and other assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,131</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,634</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PrepaidExpenseAndOtherAssetsNoncurrent_iNI_di_z5a4uecQQd0l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: Noncurrent prepaid expenses and other assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(253</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(278</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_z8iVkZqJEIdk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total current prepaid expenses and other assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,878</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,356</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

818000

1012000

218000 229000

994000

1276000

101000

117000

2131000

2634000

253000

278000

1878000

2356000

5. Property and Equipment Property and Equipment consist of the following (in thousands): Schedule of Property and Equipment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20220331_zzOZ0uXbmKEe" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20211231_z0Q7Jy8DwEU4" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zqTZQOJRM3Zd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,826</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,670</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_ze4HBLMVSPDg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zrCHrPxBGQPg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Construction in process</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">295</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,156</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzrTN_zX28QOxeqbU3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Property, Plant and Equipment, Gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,571</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,843</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzrTN_zud1Aincpuai" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Less: Accumulated depreciation</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,311</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,211</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzrTN_znIXlUYcthl6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net property and equipment</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,260</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,632</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company had approximately $0.7 million of property and equipment additions during the three months ended March 31, 2022 associated with the buildout of the new leased space in St. Louis, Missouri.

Property and Equipment consist of the following (in thousands): Schedule of Property and Equipment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20220331_zzOZ0uXbmKEe" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20211231_z0Q7Jy8DwEU4" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zqTZQOJRM3Zd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,826</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,670</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_ze4HBLMVSPDg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zrCHrPxBGQPg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Construction in process</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">295</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,156</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzrTN_zX28QOxeqbU3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Property, Plant and Equipment, Gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,571</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,843</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzrTN_zud1Aincpuai" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Less: Accumulated depreciation</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,311</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,211</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzrTN_znIXlUYcthl6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net property and equipment</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,260</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,632</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

3826000

3670000

2450000

17000

295000

2156000

6571000

5843000

3311000

3211000

3260000

2632000

700000

6. Leases A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. The Company accounts for leases in accordance with Accounting Standards Update No. 2016-02 “Leases” (Topic 842) and all subsequent ASUs that modified Topic 842 (“ASC 842”). The Company determines if an arrangement contains a lease at inception. The Company leases its facilities under operating leases. In accordance with ASC 842, operating lease agreements are recognized on the balance sheet as a right-of-use (“ROU”) asset and a corresponding lease liability. These leases generally do not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. Further, the leases do not contain contingent rent provisions. Many of our leases include both lease and non-lease components which are accounted for as a single lease component as we have elected the practical expedient to group lease and non-lease components for all leases. A portion of our former principal executive office was subleased to a third party through 2021. The sublease did not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. In addition, the sublease did not contain contingent rent provisions nor were there options to extend or terminate the sublease. The sublease ended December 31, 2021. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. The Company elected not to include short-term leases (i.e. leases with initial terms of twelve months or less) on the balance sheet. On March 1, 2021, the Company entered into an office lease agreement (the “Lease”) with Globe Building Company (the “Landlord”), under which the Company leases executive office space and manufacturing facilities of approximately <span id="xdx_905_eus-gaap--AreaOfLand_iI_usqft_c20210301__us-gaap--TypeOfArrangementAxis__custom--OfficeLeaseAgreementMember__dei--LegalEntityAxis__custom--GlobeBuildingCompanyMember_zqxQI8cibf5c" title="Area of Land">43,100 square feet of rentable space located at 710 N. Tucker Boulevard, St. Louis, Missouri (the “Premises”) that serves as the Company’s new principal executive and administrative offices and manufacturing facility. Lease payments commenced on January 1, 2022, and the lease has a term of <span id="xdx_90C_eus-gaap--LesseeOperatingLeaseTermOfContract_iI_dc_c20210301__us-gaap--TypeOfArrangementAxis__custom--OfficeLeaseAgreementMember__dei--LegalEntityAxis__custom--GlobeBuildingCompanyMember_zB1ZpI9jmTYk" title="Operating lease, term">ten years, with <span id="xdx_904_eus-gaap--LesseeOperatingLeaseOptionToExtend_c20210227__20210301__us-gaap--TypeOfArrangementAxis__custom--OfficeLeaseAgreementMember__dei--LegalEntityAxis__custom--GlobeBuildingCompanyMember_zm1G0sB4dno4" title="Operating lease, option to extend">two renewal options of <span id="xdx_901_eus-gaap--LesseeOperatingLeaseRenewalTerm_iI_dc_c20210301__us-gaap--TypeOfArrangementAxis__custom--OfficeLeaseAgreementMember__dei--LegalEntityAxis__custom--GlobeBuildingCompanyMember_z07lRuhWF2Tg" title="Operating lease, renewal term">five years each. The minimum annual rent under the terms of the Lease ranges from approximately $<span id="xdx_909_eus-gaap--PaymentsForRent_pn5n6_c20210227__20210301__us-gaap--TypeOfArrangementAxis__custom--OfficeLeaseAgreementMember__dei--LegalEntityAxis__custom--GlobeBuildingCompanyMember__us-gaap--AwardDateAxis__custom--TwoThousandTwentyTwoMember_zcaikpeAf7Q" title="Payments for rent">0.8 million in 2022 to $<span id="xdx_900_eus-gaap--PaymentsForRent_pn5n6_c20210227__20210301__us-gaap--TypeOfArrangementAxis__custom--OfficeLeaseAgreementMember__dei--LegalEntityAxis__custom--GlobeBuildingCompanyMember__us-gaap--AwardDateAxis__custom--TwoThousandThirtyOneMember_zkugrIYJxBhg" title="Payments for rent">1.0 million in 2031. The Company gained access to the Premises in the third quarter 2021 to begin constructing leasehold improvements. In accordance with ASC 842, the Company recorded a ROU asset and lease liability. The initial recognition of the ROU asset and lease liability was $5.9 million. In the fourth quarter of 2021, the Company received an occupancy permit and relocated its operations to the new leased space. The calculated amounts of the ROU assets and lease liabilities are impacted by the length of the lease term and the discount rate used to calculate the present value of the minimum lease payments. ASC 842 requires the use of the discount rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception. As of March 31, 2022, the weighted average discount rate for operating leases was 9% and the weighted average remaining lease term for operating lease term is 9.75 years. The following table represents lease costs and other lease information (in thousands): Schedule of Lease Costs and Other Lease Information <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20220101__20220331_z99RJpt4ogR8" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20210101__20210331_zoJYfDXq0oad" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended March 31</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseCost_maLCzGh8_z4muMy0A05xk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">226</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">583</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ShortTermLeaseCost_maLCzGh8_zVG5w8ln12wk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Short-term lease cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--SubleaseIncome_iN_di_msLCzGh8_zF9bsYMRPmXe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Sublease income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(247</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--LeaseCost_iT_mtLCzGh8_z3DLO5ZkyBYc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total net lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">236</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">353</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingLeasePayments_zZlxaiWioTUh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash paid within operating cash flows</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">434</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">631</td><td style="text-align: left"> </td></tr> </table> Variable lease costs consist primarily of taxes, insurance, and common area or other maintenance costs for our leased facilities and equipment which are paid based on actual costs incurred. Future minimum payments for operating leases with initial or remaining terms of one year or more as of March 31, 2022 were as follows (in thousands): Schedule of Future Minimum Operating Lease Payments <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20220331_zJXGlPwp2JDi" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maLOLLPz1aA_maLOLLPzZAR_zzPI2m9IBQqi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">607</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPz1aA_maLOLLPzZAR_zii2CNLQF5Ci" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">871</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPz1aA_maLOLLPzZAR_z3AAUWDARmx2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">892</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPz1aA_maLOLLPzZAR_z5psAuQOcTPh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">912</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_maLOLLPz1aA_maLOLLPzZAR_zPyvOBhrzaVb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">933</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_maLOLLPz1aA_maLOLLPzZAR_zdRNa7E7gae2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">2027 and thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,986</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPz1aA_z4Z52MShiDpa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Total lease payments</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">9,201</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_ztxvQzz50ia8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Less: Interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,150</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiability_iI_z2w7bM8dyMO9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Present value of lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,051</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

43100

P10Y

two

P5Y

800000

1000000.0

5900000

0.09

P9Y9M

The following table represents lease costs and other lease information (in thousands): Schedule of Lease Costs and Other Lease Information <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20220101__20220331_z99RJpt4ogR8" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20210101__20210331_zoJYfDXq0oad" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended March 31</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseCost_maLCzGh8_z4muMy0A05xk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">226</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">583</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ShortTermLeaseCost_maLCzGh8_zVG5w8ln12wk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Short-term lease cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--SubleaseIncome_iN_di_msLCzGh8_zF9bsYMRPmXe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Sublease income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(247</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--LeaseCost_iT_mtLCzGh8_z3DLO5ZkyBYc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total net lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">236</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">353</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingLeasePayments_zZlxaiWioTUh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash paid within operating cash flows</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">434</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">631</td><td style="text-align: left"> </td></tr> </table>

226000

583000

10000

17000

247000

236000

353000

434000

631000

Future minimum payments for operating leases with initial or remaining terms of one year or more as of March 31, 2022 were as follows (in thousands): Schedule of Future Minimum Operating Lease Payments <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20220331_zJXGlPwp2JDi" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maLOLLPz1aA_maLOLLPzZAR_zzPI2m9IBQqi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">607</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPz1aA_maLOLLPzZAR_zii2CNLQF5Ci" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">871</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPz1aA_maLOLLPzZAR_z3AAUWDARmx2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">892</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPz1aA_maLOLLPzZAR_z5psAuQOcTPh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">912</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_maLOLLPz1aA_maLOLLPzZAR_zPyvOBhrzaVb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">933</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_maLOLLPz1aA_maLOLLPzZAR_zdRNa7E7gae2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">2027 and thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,986</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPz1aA_z4Z52MShiDpa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Total lease payments</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">9,201</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_ztxvQzz50ia8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Less: Interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,150</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiability_iI_z2w7bM8dyMO9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Present value of lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,051</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

607000

871000

892000

912000

933000

4986000

9201000

3150000

6051000

7. Accrued Liabilities Accrued liabilities consist of the following (in thousands): Schedule of Accrued Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 95%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20220331_zyhI9Oyd8TPi" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20211231_zbKhUtKpcWn3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--EmployeeRelatedLiabilitiesCurrentAndNoncurrent_iI_maALCANzDuR_zKAHivZKzwA" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accrued salaries, bonus, and benefits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,016</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,516</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AccruedLicensesAndMaintenanceFeesCurrentAndNoncurrent_iI_maALCANzDuR_zvn3p5JswtA1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued licenses and maintenance fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">484</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">484</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ProductWarrantyAccrual_iI_maALCANzDuR_zKTF1twxe0K8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued warranties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">237</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">242</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedIncomeTaxes_iI_maALCANzDuR_zpTLXjqRSMUi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">201</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">177</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--AccruedInvestigationalSites_iI_maALCANzDuR_zHCKE1qXhk81" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued investigational sites</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">123</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AccruedLeaseDepositPayable_iI_maALCANzDuR_zpG6ismuzVh6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Accrued lease deposit payable</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">5</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">124</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherAccruedLiabilitiesCurrentAndNoncurrent_iI_maALCANzDuR_zHdAO850bptj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">111</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">81</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iTI_mtALCANzDuR_zIdTSFUDncBe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,169</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,747</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherAccruedLiabilitiesNoncurrent_iNI_di_zsIa29ceM13c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Less: Long term accrued liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(202</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(219</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--AccruedLiabilitiesCurrent_iI_zp904eJM8H0c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total current accrued liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,967</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,528</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Certain prior year amounts have been reclassified to conform to the 2022 presentation.

Accrued liabilities consist of the following (in thousands): Schedule of Accrued Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 95%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20220331_zyhI9Oyd8TPi" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20211231_zbKhUtKpcWn3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--EmployeeRelatedLiabilitiesCurrentAndNoncurrent_iI_maALCANzDuR_zKAHivZKzwA" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accrued salaries, bonus, and benefits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,016</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,516</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AccruedLicensesAndMaintenanceFeesCurrentAndNoncurrent_iI_maALCANzDuR_zvn3p5JswtA1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued licenses and maintenance fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">484</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">484</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ProductWarrantyAccrual_iI_maALCANzDuR_zKTF1twxe0K8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued warranties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">237</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">242</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedIncomeTaxes_iI_maALCANzDuR_zpTLXjqRSMUi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">201</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">177</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--AccruedInvestigationalSites_iI_maALCANzDuR_zHCKE1qXhk81" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued investigational sites</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">123</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AccruedLeaseDepositPayable_iI_maALCANzDuR_zpG6ismuzVh6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Accrued lease deposit payable</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">5</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">124</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherAccruedLiabilitiesCurrentAndNoncurrent_iI_maALCANzDuR_zHdAO850bptj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">111</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">81</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iTI_mtALCANzDuR_zIdTSFUDncBe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,169</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,747</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherAccruedLiabilitiesNoncurrent_iNI_di_zsIa29ceM13c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Less: Long term accrued liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(202</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(219</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--AccruedLiabilitiesCurrent_iI_zp904eJM8H0c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total current accrued liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,967</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,528</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1016000

1516000

484000 484000

237000

242000

201000

177000

115000 123000 5000 124000

111000

81000

2169000

2747000

202000

219000

1967000

2528000

8. Debt and Credit Facilities The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted on March 27, 2020 in the United States. Among the provisions contained in the CARES Act was the creation of the Paycheck Protection Program that provides for Small Business Administration (“SBA”) Section 7(a) loans for qualified small businesses. In general, the loan could be forgiven as long as the funds were used for payroll related expenses as well as rent and utilities paid during the twenty-four-week period from the date of the loan and as long as certain headcount and salary/wage levels were maintained. On April 10, 2020, the Company was informed by its lender, Midwest BankCentre (the “Bank”), that the Bank received approval from the SBA to fund the Company’s request for a loan under the SBA’s Paycheck Protection Program (“PPP Loan”). Per the terms of the PPP Loan, the Company received total proceeds of approximately $2.2 million from the Bank on April 20, 2020. In accordance with the loan forgiveness requirements of the CARES Act, the Company used the full proceeds from the PPP Loan primarily for payroll costs, rent and utilities. In March 2021, the Company applied for loan forgiveness and in June 2021 full loan forgiveness was granted by the SBA. The Company recognized a net gain from debt extinguishment of approximately $<span id="xdx_903_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn5n6_c20210601__20210630__us-gaap--LongtermDebtTypeAxis__custom--PaycheckProtectionProgramMember_zeiUyaUpk4Ib" title="Gain on extinguishment of debt">2.2 million.

2200000

<p id="xdx_807_eus-gaap--ShareholdersEquityAndShareBasedPaymentsTextBlock_zMlS6gB3wjl4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify">9. Convertible Preferred Stock and Stockholders’ Equity The holders of common stock are entitled to one vote for each share held and to receive dividends when and as declared by the Board of Directors out of funds legally available for dividends, subject to the prior rights or preferences applicable to any preferred stock as may then be outstanding. The Company’s Series B Preferred is entitled to dividends equal to and in the same form as dividends actually paid on shares of common stock when, as and if such dividends are paid on shares of common stock. Until all shares of the Company’s Series A Preferred Stock have been converted or redeemed, no dividends may be paid on the common stock or the Series B Preferred Stock without the express written consent of the holders of a majority of the outstanding shares of Series A Preferred Stock. In the event that dividends or other distributions of assets are made or paid by the Company to the holders of the common stock or the holders of shares of the Series B Preferred, the holders of shares of the Series A Preferred Stock are entitled to participate in such dividend or distribution on an as-converted basis. No dividends have been declared or paid as of March 31, 2022, and the Company does not presently intend to pay any cash dividends in the foreseeable future. Series B Convertible Preferred Stock On August 7, 2019, the Company entered into a Securities Purchase Agreement with certain institutional and other accredited investors, whereby it, as part of a private placement, agreed to issue and sell to the investors <span id="xdx_90F_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20190806__20190807__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementEquityComponentsAxis__custom--SeriesBConvertiblePreferredStockMember_ziHDgRa086O4">5,610,121 shares of the Company’s Series B Convertible Preferred Stock, $<span id="xdx_906_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20190807__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementEquityComponentsAxis__custom--SeriesBConvertiblePreferredStockMember_zb8GH75NohI5">0.001 par value per share which are convertible into shares of the Company’s common stock, at a price of $<span id="xdx_90D_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20190807__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementEquityComponentsAxis__custom--SeriesBConvertiblePreferredStockMember_zm2vVHN9i6D6">2.05 per share. The Series B Preferred Stock, which is a common stock equivalent but non-voting and with a blocker on conversion if the holder would exceed a specified threshold of voting security ownership, is convertible into common stock on a one-for-one basis, subject to adjustment for events such as stock splits, combinations and the like as provided in the Purchase Agreement. The Series B Convertible Preferred Stock is reported in the stockholders’ equity section of the Company’s balance sheet. Series A Convertible Preferred Stock and Warrants In September 2016, the Company issued (i) <span id="xdx_90C_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20160901__20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zMAl9pVHCxo9" title="Sale of stock, number of shares sold">24,000 shares of Series A Convertible Preferred Stock, par value $<span id="xdx_901_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zu9IdNdQmx15" title="Preferred stock, par value">0.001 per share, with a stated value of $<span id="xdx_90A_ecustom--PreferredStockStatedValuePerShare_iI_pid_c20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zZ6okk7rbYi8" title="Preferred stock, stated value">1,000 per share (the “Series A Preferred Stock”), which are convertible into shares of the Company’s common stock at an initial conversion rate of $<span id="xdx_900_eus-gaap--PreferredStockRedemptionPricePerShare_iI_pid_c20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zTgKSsAfa0Q9" title="Redemption price per share">0.65 per share, subject to adjustment for events such as stock splits, combinations and the like as provided in the certificate of designations covering such Series A Preferred Stock, and (ii) (the SPA Warrants) to purchase an aggregate of <span id="xdx_902_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zRdTFY1EdVY5" title="Common stock issuable from warrants">36,923,078 shares of common stock. The shares of Series A Preferred Stock are entitled to vote on an as-converted basis with the common stock, subject to specified beneficial ownership issuance limitations. The Series A Preferred Stock bear dividends at a rate of six percent (<span id="xdx_900_eus-gaap--PreferredStockDividendRatePercentage_pid_dp_c20160901__20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zC6FflAaI4mj" title="Preferred stock dividend rate">6%) per annum, which are cumulative and accrue daily from the date of issuance on the $<span id="xdx_905_ecustom--PreferredStockStatedValuePerShare_iI_pid_c20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zxicZHqnJ2Ld" title="Preferred stock, stated value">1,000 stated value. Such dividends will not be paid in cash except in connection with any liquidation, dissolution or winding up of the Company or any redemption of the Series A Preferred Stock. Each holder of convertible preferred shares has the right to require us to redeem such holder’s shares of Series A Preferred Stock upon the occurrence of specified events, which include certain business combinations, the sale of all or substantially all of the Company’s assets, or the sale of more than <span id="xdx_909_ecustom--PreferredStockRedemptionTriggeringEventPercentOfCommonStockSoldThreshold_pid_dp_c20160901__20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zEYwaZpN8U7a" title="Preferred stock redemption, triggering event, percent of common stock sold threshold">50% of the outstanding shares of the Company’s common stock. In addition, the Company has the right to redeem the Series A Preferred Stock in the event of a defined change of control. The Series A Preferred Stock ranks senior to our common stock as to distributions and payments upon the liquidation, dissolution, and winding up of the Company. Since the Series A Preferred Stock are subject to conditions for redemption that are outside the Company’s control, the Series A Preferred Stock are presently reported in the mezzanine section of the balance sheet. The SPA Warrants were modified on February 28, 2018 to allow for a reduction in the exercise price from $<span id="xdx_904_eus-gaap--PreferredStockRedemptionPricePerShare_iI_pid_c20180228__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zT8qgtzVQK51" title="Redemption price per share">0.70 per share to $<span id="xdx_907_eus-gaap--PreferredStockRedemptionPricePerShare_iI_pid_c20180305__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zhadCoaiKye1" title="Redemption price per share">0.28 per share for a period between March 1, 2018 and March 5, 2018 and to modify certain beneficial ownership limitations and to eliminate certain redemption rights, resulting in, among other things, the exercise of a substantial number of the SPA Warrants for cash. The remaining unexercised <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_pid_c20210929__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zEJkTDnrGrg9" title="Unexercised warrants">15,385 Warrants expired on September 29, 2021. 2021 CEO Performance Award Unit Grant On February 23, 2021, the Company`s Board of Directors, upon recommendation of the Compensation Committee, approved the grant of the CEO Performance Award to the Company’s Chief Executive Officer. The CEO Performance award is a <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zwsFYb8eAaek" title="Performance award term">10-year performance award of up to <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zAaayWhhCRQh" title="Number of shares granted">13,000,000 shares, tied to the achievement of market capitalization milestones and subject to minimum service requirements. As detailed in the table below, the CEO Performance Award consists of ten vesting tranches. The first market capitalization milestone is $<span id="xdx_904_ecustom--MarketCapitalizationMilestone_iI_pn8n9_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zBIFbiQQw51g" title="Maximum market capitalization milestone, amount">1.0 billion, and each of the remaining nine market capitalization milestones are in additional $<span id="xdx_906_ecustom--IncreaseInMarketCapitalizationMilestone_iI_pn6n6_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zBzVGobnCA8c" title="Increase in market capitalization milestone, amount">500 million increments, up to $<span id="xdx_90F_ecustom--MarketCapitalizationMilestone_iI_pn8n9_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheTenMember_z5IR49xkuYG2" title="Maximum market capitalization milestone, amount">5.5 billion. <p id="xdx_894_ecustom--SummaryofPerformanceAwardAndMarketCapitalizationMilestonesTableTextBlock_zQtjf0zoSuYf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt; background-color: white"> Summary of Performance Award And Market Capitalization Milestones <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Tranche #</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">No. of Shares Subject to PSU</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Market Capitalization Milestones(1)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: center">1</td><td style="width: 2%; text-align: left"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zjkuYIGTMO4l" style="width: 31%; text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_z6NkXgDb2CN2" style="width: 31%; text-align: right" title="Market capitalization milestone, amount">1,000,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zJIEenX3f2Lb" style="text-align: right" title="Number of shares subject to PSU">1,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">1,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">3</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_zyrqaduOk545" style="text-align: right" title="Number of shares subject to PSU">1,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">2,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">4</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember_zA3RKBpN8WXe" style="text-align: right" title="Number of shares subject to PSU">2,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">2,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">5</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember_zFvIC4IfvFS" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">3,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">6</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSixMember_zRxmRTErSKnd" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSixMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">3,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">7</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSevenMember_zDlNwZNOa6f" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSevenMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">4,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">8</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheEightMember_zM02v3mtp9Y1" style="text-align: right" title="Number of shares subject to PSU">2,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheEightMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">4,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">9</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheNineMember_zfMJ11TBHKOb" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheNineMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">5,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">10</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheTenMember_zZOTPANGIZZ9" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheTenMember_zK0chWdl6sf" style="text-align: right" title="Market capitalization milestone, amount">5,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: center">Total:</td><td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zMUvreZsAchf" style="font-weight: bold; text-align: right" title="Number of shares subject to PSU">13,000,000</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table> <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zZ2W054h462" title="Award vesting rights, description">Each tranche represents a portion of the PSUs covering the number of shares outlined in the table above. Each tranche vests upon (i) satisfaction of the market capitalization milestones and (ii) continued employment as CEO of the Company from the grant date through December 31, 2030. Absent an earlier termination, the PSUs will expire on December 31, 2030. If our CEO ceases employment as CEO of the Company for any reason including death, disability, termination for cause or without cause (as defined in the award agreement), or if he voluntary terminates after service as CEO for at least five years, the remaining service period will be waived and he will retain any PSUs that have vested through the date of termination. The Company received Shareholder approval at its annual meeting on May 20, 2021 for shares to be issued under the award. The market capitalization requirement is considered a market condition under FASB Accounting Standards Codification Topic 718 “Compensation – Stock Compensation” and is estimated on the grant date using Monte Carlo simulations. Recognition of stock-based compensation expense of all the tranches commenced on February 23, 2021, the date of grant, as the probability of meeting the ten market capitalization milestones is not considered in determining the timing of expense recognition. The expense will be recognized on an accelerated basis through 2030. Key assumptions for estimating the performance-based awards fair value at the date of grant included share price on grant date, volatility of the Company’s common stock price, risk free interest rate, and grant term. Total stock-based compensation recorded as operating expense for the CEO Performance Award was $<span id="xdx_90B_eus-gaap--ShareBasedCompensation_pn5n6_c20220101__20220331__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_z4SB9TBpxMO1">1.8 million and $<span id="xdx_909_eus-gaap--ShareBasedCompensation_pn5n6_c20210101__20210331__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zsZrq5kooTxi">0.7 million for the quarters ended March 31, 2022 and 2021. As of March 31, 2022 and 2021, the Company had approximately $<span id="xdx_904_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20220331__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_z1G4k6EbDiIk">49.5 million and <span id="xdx_906_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20210331__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zb9EmEUy42n5">56.7 million, respectively of total unrecognized stock-based compensation expense remaining under the CEO Performance Award assuming the grantee’s continued employment as CEO of the Company, or in a similar capacity, through 2030. As of March 31, 2022, none of the performance milestones established by the 2021 CEO Incentive Program have been achieved, and no awards have been earned. 2012 Stock Award Plan The Company has various stock plans that permit the Company to provide incentives to employees and directors of the Company in the form of equity compensation. In July 2012, the Compensation Committee of the Board of Directors adopted the 2012 Stock Incentive Plan (the “Plan”) which was subsequently approved by the Company’s shareholders. This plan replaced the 2002 Stock Incentive Plan which expired on <span id="xdx_900_eus-gaap--StockRepurchaseProgramExpirationDate_dd_c20220101__20220331__us-gaap--PlanNameAxis__custom--TwoThousandAndTwelveStockIncentivePlanMember_zQKEaldCeV91" title="Stock plan expiration date">March 25, 2012. On May 20, 2021, the shareholders approved an amendment to the Plan, which was previously approved and adopted by the Compensation Committee of the Board of Directors of the Company. Under the amendment on May 20, 2021, the number of shares authorized for issuance under the Plan was increased by four million shares. At March 31, 2022, the Company had <span id="xdx_906_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20220331__us-gaap--PlanNameAxis__custom--StockAwardPlansMember_z441xFL3JlOc" title="Common Stock, Capital Shares Reserved for Future Issuance">4,174,120 remaining shares of the Company’s common stock to provide for current and future grants under its various equity plans. At March 31, 2022, the total compensation cost related to options, stock appreciation rights, and non-vested stock granted to employees and non-employees under the Company’s stock award plans but not yet recognized was approximately $7.2 million, excluding compensation not yet recognized related to the CEO Performance Award discussed above. This cost will be amortized over a period of up to <span id="xdx_90E_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_c20220101__20220331_zJf5C7T37sza" title="Share based payment arrangement, cost not yet recognized, period">four years over the underlying estimated service periods and will be adjusted for subsequent changes in actual forfeitures and anticipated vesting periods. <p id="xdx_898_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock_zglOOw1X5C87" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.35in">A summary of the option and stock appreciation rights activity for the three-month period ended March 31, 2022 is as follows: Summary of Option and Stock Appreciation Rights Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Options/SARs</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Range of Exercise Price</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price per Share</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Outstanding, December 31, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20220101__20220331_zhF4Bkqa03j9" style="width: 16%; text-align: right" title="Number of Options/SARs, Outstanding, Beginning">2,818,012</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">$<span id="xdx_901_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iS_pid_c20220101__20220331__srt--RangeAxis__srt--MinimumMember_zjY1gi5lGil8" title="Range of Exercise Price, Outstanding, Beginning">0.74 - $<span id="xdx_90D_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iS_pid_c20220101__20220331__srt--RangeAxis__srt--MaximumMember_zKeN6JKpv1Vf" title="Range of Exercise Price, Outstanding, Beginning">9.87</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20220101__20220331_z5vUm3aEVz2d" style="width: 16%; text-align: right" title="Weighted Average Exercise Price per Share, Outstanding, Beginning">4.10</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20220101__20220331_zSYKQsvn1WTe" style="text-align: right" title="Number of Options/SARs, Granted">757,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">$<span id="xdx_907_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceGranted_pid_c20220101__20220331__srt--RangeAxis__srt--MinimumMember_zlsAANHQgt4c" title="Range of Exercise Price, Granted">4.62 - $<span id="xdx_907_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceGranted_pid_c20220101__20220331__srt--RangeAxis__srt--MaximumMember_zvjrUah0nVa9" title="Range of Exercise Price, Granted">5.21</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20220101__20220331_zRsxAs1CWeC9" style="text-align: right" title="Weighted Average Exercise Price per Share, Granted">4.81</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20220101__20220331_znKdQzT4X4z8" style="text-align: right" title="Number of Options/SARs, Exercised">(10,294</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">$<span id="xdx_901_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceExercised_pid_c20220101__20220331__srt--RangeAxis__srt--MinimumMember_z5hFjdzctFzf" title="Range of Exercise Price, Exercised">0.74 - $<span id="xdx_907_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceExercised_pid_c20220101__20220331__srt--RangeAxis__srt--MaximumMember_zoLuMJLQ5KBg" title="Range of Exercise Price, Exercised">4.52</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20220101__20220331_zXwfqy6DJHVe" style="text-align: right" title="Weighted Average Exercise Price per Share, Exercised">1.78</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Forfeited</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20220101__20220331_zhDYJL3WPVS6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Options/SARs, Forfeited">(83,352</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">$<span id="xdx_906_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceForfeited_pid_c20220101__20220331__srt--RangeAxis__srt--MinimumMember_zySoaN0ubQK8" title="Range of Exercise Price, Forfeited">0.74 - $<span id="xdx_90B_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceForfeited_pid_c20220101__20220331__srt--RangeAxis__srt--MaximumMember_zZhKcSKvWzz2" title="Range of Exercise Price, Forfeited">7.70</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20220101__20220331_zhM1a5FJD9Qf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted Average Exercise Price per Share, Forfeited">5.44</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding, March 31, 2022</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20220101__20220331_zok3HD8sCdX7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options/SARs, Outstanding, Ending">3,481,866</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">$<span id="xdx_909_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iE_pid_c20220101__20220331__srt--RangeAxis__srt--MinimumMember_z2uwmtZI1Jp2" title="Range of Exercise Price, Outstanding, Ending">0.74 - $<span id="xdx_900_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iE_pid_c20220101__20220331__srt--RangeAxis__srt--MaximumMember_zGqRRvpcrZ7j" title="Range of Exercise Price, Outstanding, Ending">9.87</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20220101__20220331_zkUVsRs7cGSk" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price per Share, Outstanding, Ending">4.23</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_897_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zy7JD6lDGJw2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.35in">A summary of the restricted stock unit activity for the three-month period ended March 31, 2022 is as follows: Summary of Restricted Stock Unit Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Restricted Stock Units</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Grant Date Fair Value per Unit</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%">Outstanding, December 31, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zb2h1UcblW9c" style="width: 18%; text-align: right" title="Number of Restricted Stock Units, Outstanding, Beginning">1,164,723</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z6gKiCRXoDAb" style="width: 18%; text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Outstanding, Beginning">3.57</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ztv8rHkNMGOa" style="text-align: right" title="Number of Restricted Stock Units, Outstanding, Granted">61,580</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zfBxNaJbr0ac" style="text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Granted">9.56</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQyrZFlwLTp2" style="text-align: right" title="Number of Restricted Stock Units, Outstanding, Vested">(10,699</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zn9hxtXhivve" style="text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Vested">9.37</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Forfeited</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zHJQjwmjgxH" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Restricted Stock Units, Outstanding, Forfeited">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zoGhf9va95h1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Forfeited">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding, March 31, 2022</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zijvr3fTw4wj" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Restricted Stock Units, Outstanding, Ending">1,215,604</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmtPfh3i7pN" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Outstanding, Ending">3.82</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

The holders of common stock are entitled to one vote for each share held

5610121

0.001

2.05

24000

0.001

1000

0.65

36923078

0.06

1000 0.50

0.70

0.28

15385

P10Y

13000000

1000000000.0 500000000 5500000000 <p id="xdx_894_ecustom--SummaryofPerformanceAwardAndMarketCapitalizationMilestonesTableTextBlock_zQtjf0zoSuYf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt; background-color: white"> Summary of Performance Award And Market Capitalization Milestones <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Tranche #</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">No. of Shares Subject to PSU</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Market Capitalization Milestones(1)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: center">1</td><td style="width: 2%; text-align: left"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zjkuYIGTMO4l" style="width: 31%; text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_z6NkXgDb2CN2" style="width: 31%; text-align: right" title="Market capitalization milestone, amount">1,000,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zJIEenX3f2Lb" style="text-align: right" title="Number of shares subject to PSU">1,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">1,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">3</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_zyrqaduOk545" style="text-align: right" title="Number of shares subject to PSU">1,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">2,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">4</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember_zA3RKBpN8WXe" style="text-align: right" title="Number of shares subject to PSU">2,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">2,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">5</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember_zFvIC4IfvFS" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">3,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">6</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSixMember_zRxmRTErSKnd" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSixMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">3,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">7</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSevenMember_zDlNwZNOa6f" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSevenMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">4,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">8</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheEightMember_zM02v3mtp9Y1" style="text-align: right" title="Number of shares subject to PSU">2,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheEightMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">4,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">9</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheNineMember_zfMJ11TBHKOb" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_ecustom--MarketCapitalizationMilestone_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheNineMember_pp0p0" style="text-align: right" title="Market capitalization milestone, amount">5,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">10</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheTenMember_zZOTPANGIZZ9" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheTenMember_zK0chWdl6sf" style="text-align: right" title="Market capitalization milestone, amount">5,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: center">Total:</td><td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zMUvreZsAchf" style="font-weight: bold; text-align: right" title="Number of shares subject to PSU">13,000,000</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table>

1000000

1000000000

1500000

1500000000

1500000

2000000000

2000000

2500000000

1000000

3000000000

1000000

3500000000

1000000

4000000000

2000000

4500000000

1000000

5000000000

1000000

5500000000

13000000

Each tranche represents a portion of the PSUs covering the number of shares outlined in the table above. Each tranche vests upon (i) satisfaction of the market capitalization milestones and (ii) continued employment as CEO of the Company from the grant date through December 31, 2030. Absent an earlier termination, the PSUs will expire on December 31, 2030. If our CEO ceases employment as CEO of the Company for any reason including death, disability, termination for cause or without cause (as defined in the award agreement), or if he voluntary terminates after service as CEO for at least five years, the remaining service period will be waived and he will retain any PSUs that have vested through the date of termination.

1800000

700000

49500000

56700000

2012-03-25

4174120

7200000

P4Y

<p id="xdx_898_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock_zglOOw1X5C87" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.35in">A summary of the option and stock appreciation rights activity for the three-month period ended March 31, 2022 is as follows: Summary of Option and Stock Appreciation Rights Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Options/SARs</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Range of Exercise Price</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price per Share</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Outstanding, December 31, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20220101__20220331_zhF4Bkqa03j9" style="width: 16%; text-align: right" title="Number of Options/SARs, Outstanding, Beginning">2,818,012</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">$<span id="xdx_901_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iS_pid_c20220101__20220331__srt--RangeAxis__srt--MinimumMember_zjY1gi5lGil8" title="Range of Exercise Price, Outstanding, Beginning">0.74 - $<span id="xdx_90D_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iS_pid_c20220101__20220331__srt--RangeAxis__srt--MaximumMember_zKeN6JKpv1Vf" title="Range of Exercise Price, Outstanding, Beginning">9.87</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20220101__20220331_z5vUm3aEVz2d" style="width: 16%; text-align: right" title="Weighted Average Exercise Price per Share, Outstanding, Beginning">4.10</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20220101__20220331_zSYKQsvn1WTe" style="text-align: right" title="Number of Options/SARs, Granted">757,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">$<span id="xdx_907_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceGranted_pid_c20220101__20220331__srt--RangeAxis__srt--MinimumMember_zlsAANHQgt4c" title="Range of Exercise Price, Granted">4.62 - $<span id="xdx_907_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceGranted_pid_c20220101__20220331__srt--RangeAxis__srt--MaximumMember_zvjrUah0nVa9" title="Range of Exercise Price, Granted">5.21</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20220101__20220331_zRsxAs1CWeC9" style="text-align: right" title="Weighted Average Exercise Price per Share, Granted">4.81</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20220101__20220331_znKdQzT4X4z8" style="text-align: right" title="Number of Options/SARs, Exercised">(10,294</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">$<span id="xdx_901_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceExercised_pid_c20220101__20220331__srt--RangeAxis__srt--MinimumMember_z5hFjdzctFzf" title="Range of Exercise Price, Exercised">0.74 - $<span id="xdx_907_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceExercised_pid_c20220101__20220331__srt--RangeAxis__srt--MaximumMember_zoLuMJLQ5KBg" title="Range of Exercise Price, Exercised">4.52</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20220101__20220331_zXwfqy6DJHVe" style="text-align: right" title="Weighted Average Exercise Price per Share, Exercised">1.78</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Forfeited</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20220101__20220331_zhDYJL3WPVS6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Options/SARs, Forfeited">(83,352</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">$<span id="xdx_906_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceForfeited_pid_c20220101__20220331__srt--RangeAxis__srt--MinimumMember_zySoaN0ubQK8" title="Range of Exercise Price, Forfeited">0.74 - $<span id="xdx_90B_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceForfeited_pid_c20220101__20220331__srt--RangeAxis__srt--MaximumMember_zZhKcSKvWzz2" title="Range of Exercise Price, Forfeited">7.70</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20220101__20220331_zhM1a5FJD9Qf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted Average Exercise Price per Share, Forfeited">5.44</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding, March 31, 2022</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20220101__20220331_zok3HD8sCdX7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options/SARs, Outstanding, Ending">3,481,866</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">$<span id="xdx_909_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iE_pid_c20220101__20220331__srt--RangeAxis__srt--MinimumMember_z2uwmtZI1Jp2" title="Range of Exercise Price, Outstanding, Ending">0.74 - $<span id="xdx_900_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iE_pid_c20220101__20220331__srt--RangeAxis__srt--MaximumMember_zGqRRvpcrZ7j" title="Range of Exercise Price, Outstanding, Ending">9.87</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20220101__20220331_zkUVsRs7cGSk" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price per Share, Outstanding, Ending">4.23</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2818012

0.74

9.87

4.10

757500

4.62 5.21

4.81

10294

0.74 4.52

1.78

83352

0.74 7.70

5.44

3481866

0.74

9.87

4.23

<p id="xdx_897_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zy7JD6lDGJw2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.35in">A summary of the restricted stock unit activity for the three-month period ended March 31, 2022 is as follows: Summary of Restricted Stock Unit Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Restricted Stock Units</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Grant Date Fair Value per Unit</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%">Outstanding, December 31, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zb2h1UcblW9c" style="width: 18%; text-align: right" title="Number of Restricted Stock Units, Outstanding, Beginning">1,164,723</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z6gKiCRXoDAb" style="width: 18%; text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Outstanding, Beginning">3.57</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ztv8rHkNMGOa" style="text-align: right" title="Number of Restricted Stock Units, Outstanding, Granted">61,580</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zfBxNaJbr0ac" style="text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Granted">9.56</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQyrZFlwLTp2" style="text-align: right" title="Number of Restricted Stock Units, Outstanding, Vested">(10,699</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zn9hxtXhivve" style="text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Vested">9.37</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Forfeited</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zHJQjwmjgxH" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Restricted Stock Units, Outstanding, Forfeited">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zoGhf9va95h1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Forfeited">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding, March 31, 2022</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zijvr3fTw4wj" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Restricted Stock Units, Outstanding, Ending">1,215,604</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20220101__20220331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmtPfh3i7pN" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Outstanding, Ending">3.82</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1164723

3.57

61580

9.56

10699

9.37

1215604

3.82

10. Fair Value Measurements The Company measures certain financial assets and liabilities at fair value on a recurring basis, including certain cash equivalents. Generally accepted accounting principles for fair value measurement established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (“Level 1”) and the lowest priority to unobservable inputs (“Level 3”). The three levels of the fair value hierarchy are described below: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify">Level 1:</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.1in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Values are based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Values are based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or other model-based valuation techniques for which all significant assumptions are observable in the market.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Values are generated from model-based techniques that use significant assumptions not observable in the market.</td></tr> </table> <p id="xdx_89B_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisTextBlock_zrARDXKAZ3Jh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.35in; background-color: white">The following table sets forth the Company’s assets measured at fair value on a recurring basis by level within the fair value hierarchy. As required by the Fair Value Measurements and Disclosures topic of the Accounting Standards Codification, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Schedule of Assets Measured at Fair Value on a Recurring Basis by Level Within Fair Value Hierarchy <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair Value Measurement Using</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Quoted Prices in Active Markets for Identical Instruments (Level 1)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Significant Other Observable Inputs (Level 2)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Significant Unobservable Inputs (Level 3)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets at March 31, 2022:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 28%; text-align: left; padding-bottom: 1.5pt">Cash invested in money market accounts</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_zNiOcVmkzUAe" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Assets, Fair Value Disclosure">1,756</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_zkqIWhTngDpi" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_zn5L3oZBL9q7" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Assets, Fair Value Disclosure">1,756</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_zy80o8j0Bo52" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_ztd9tOuNCswg" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, Fair Value Disclosure">1,756</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zkzTBNsqxz6j" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zBmcMYxbW891" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, Fair Value Disclosure">1,756</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zhAUjhbmYITh" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Assets at December 31, 2021:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Cash invested in money market accounts</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_zCnXn9yillE" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, Fair Value Disclosure">1,406</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_983_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_zhYwryyTIDge" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98B_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_z1t6HCNVeSF7" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, Fair Value Disclosure">1,406</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_zeS35OuS2Iw4" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zYjaFbNGy7ik" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, Fair Value Disclosure">1,406</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zxfmgHxTlhp1" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zPgxzd04aMz2" style="border-bottom: Black 2.5pt double; text-align: right">1,406</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zsDoZDke6Z84" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company did not have any financial liabilities valued at fair value on a recurring basis as of March 31, 2022 or December 31, 2021. Level 1 The Company does not have any financial assets or liabilities classified as Level 1. Level 2 The Company’s financial assets consist of restricted cash and cash equivalents invested in money market funds in the amount of $<span id="xdx_909_eus-gaap--AssetsFairValueDisclosure_iI_pn5n6_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--RestrictedCashandCashInvestedInMoneyMarketAccountsMember_zg0iT1uJ430f" title="Fair value of asset">1.8 million and $<span id="xdx_90D_eus-gaap--AssetsFairValueDisclosure_iI_pn5n6_c20211231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--RestrictedCashandCashInvestedInMoneyMarketAccountsMember_z24F5D5wzsXl" title="Fair value of asset">1.4 million at March 31, 2022 and December 31, 2021, respectively. These assets are classified as Level 2, as described above, and total interest income recorded for these investments was insignificant during the three months ended March 31, 2022 and year ended December 31, 2021. Level 3 The Company does not have any financial assets or liabilities classified as Level 3.

<p id="xdx_89B_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisTextBlock_zrARDXKAZ3Jh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.35in; background-color: white">The following table sets forth the Company’s assets measured at fair value on a recurring basis by level within the fair value hierarchy. As required by the Fair Value Measurements and Disclosures topic of the Accounting Standards Codification, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Schedule of Assets Measured at Fair Value on a Recurring Basis by Level Within Fair Value Hierarchy <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair Value Measurement Using</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Quoted Prices in Active Markets for Identical Instruments (Level 1)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Significant Other Observable Inputs (Level 2)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Significant Unobservable Inputs (Level 3)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets at March 31, 2022:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 28%; text-align: left; padding-bottom: 1.5pt">Cash invested in money market accounts</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_zNiOcVmkzUAe" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Assets, Fair Value Disclosure">1,756</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_zkqIWhTngDpi" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_zn5L3oZBL9q7" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Assets, Fair Value Disclosure">1,756</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_zy80o8j0Bo52" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_ztd9tOuNCswg" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, Fair Value Disclosure">1,756</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zkzTBNsqxz6j" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zBmcMYxbW891" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, Fair Value Disclosure">1,756</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_c20220331__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zhAUjhbmYITh" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Assets at December 31, 2021:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Cash invested in money market accounts</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_zCnXn9yillE" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, Fair Value Disclosure">1,406</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_983_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_zhYwryyTIDge" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98B_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_z1t6HCNVeSF7" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, Fair Value Disclosure">1,406</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--CashInvestedInMoneyMarketAccountsMember_zeS35OuS2Iw4" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zYjaFbNGy7ik" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, Fair Value Disclosure">1,406</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zxfmgHxTlhp1" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zPgxzd04aMz2" style="border-bottom: Black 2.5pt double; text-align: right">1,406</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--AssetsFairValueDisclosure_iI_c20211231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zsDoZDke6Z84" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, Fair Value Disclosure">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1756000

1406000

1800000

1400000

11. Product Warranty Provisions The Company’s standard policy is to warrant all capital systems against defects in material or workmanship for one year following installation. The Company’s estimate of costs to service the warranty obligations is based on historical experience and current product performance trends. A regular review of warranty obligations is performed to determine the adequacy of the reserve and adjustments are made to the estimated warranty liability as appropriate. Accrued warranty, which is included in other accrued liabilities, consists of the following (in thousands): Schedule of Accrued Warranty <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20220101__20220331_z7ihVWAYNvI" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20210101__20211231_zgs67jj5j7Ja" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--ProductWarrantyAccrualClassifiedCurrent_iS_zhGH8kmcExjj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Warranty accrual, beginning of the fiscal period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">242</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">158</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ProductWarrantyAccrualPreexistingIncreaseDecrease_zKdtasjx6iZc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrual adjustment for product warranty</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">199</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ProductWarrantyAccrualPayments_iN_di_zuO3H9lukHz6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Payments made</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(85</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(115</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--ProductWarrantyAccrualClassifiedCurrent_iE_zGgBwXCuGBVh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Warranty accrual, end of the fiscal period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">237</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">242</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Accrued warranty, which is included in other accrued liabilities, consists of the following (in thousands): Schedule of Accrued Warranty <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20220101__20220331_z7ihVWAYNvI" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20210101__20211231_zgs67jj5j7Ja" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--ProductWarrantyAccrualClassifiedCurrent_iS_zhGH8kmcExjj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Warranty accrual, beginning of the fiscal period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">242</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">158</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ProductWarrantyAccrualPreexistingIncreaseDecrease_zKdtasjx6iZc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrual adjustment for product warranty</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">199</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ProductWarrantyAccrualPayments_iN_di_zuO3H9lukHz6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Payments made</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(85</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(115</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--ProductWarrantyAccrualClassifiedCurrent_iE_zGgBwXCuGBVh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Warranty accrual, end of the fiscal period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">237</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">242</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

242000

158000

80000

199000

85000

115000

237000

242000

12. Commitments and Contingencies The Company at times becomes a party to claims in the ordinary course of business. Management believes that the ultimate resolution of pending or threatened proceedings will not have a material effect on the financial position, results of operations or liquidity of the Company. In April 2021, the Company entered into a letter of credit pursuant to the Lease agreement totaling approximately $1.8 million to be delivered in four equal installments of which the first was delivered in April 2021, the second was delivered in July 2021, the third was delivered in October 2021, and the fourth was delivered in January 2022. The amount available under this letter of credit will automatically reduce by one fortieth at the end of each month during the lease term.

1800000

13. Subsequent Events None.