FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2022

FAIR VALUE MEASUREMENTS

Summary of major categories of assets and liabilities measured at fair value on a recurring basis

	As of December 31, 2022
	Level 1		Level 2			Level 3	Total
Assets:
Short-term investments	$	31,009	$	—	$	—	$	31,009
Total assets measured at fair value	$	31,009	$	—	$	—	$	31,009
Liabilities:
Derivative liability	$	—	$	—	$	—	$	—
Warrant liability		—		—		1,859,374		1,859,374
Total liabilities measured at fair value	$	—	$	—	$	1,859,374	$	1,859,374

	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Short-term investments	$	33,248	$	—	$	—	$	33,248
Total assets measured at fair value	$	33,248	$	—	$	—	$	33,248
Liabilities:
Derivative liability	$	—	$	—	$	5,379,878	$	5,379,878
Warrant liability		—		—		1,871,687		1,871,687
Total liabilities measured at fair value	$	—	$	—	$	7,251,565	$	7,251,565