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Fair Value Considerations (Tables)
9 Months Ended
Sep. 30, 2022
Fair Value Considerations  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2022 and December 31, 2021, by level within the fair value hierarchy:

    

Fair Value Measurements Using

    

Level 1

    

Level 2

    

Level 3

    

Total

September 30, 2022

  

 

  

 

  

 

  

Liabilities:

 

  

 

  

 

  

 

  

Warrant derivative liability

$

$

$

421,000

$

421,000

December 31, 2021

 

  

 

  

 

  

 

  

Liabilities:

 

  

 

  

 

  

 

  

Warrant derivative liability

$

$

$

5,805,000

$

5,805,000

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table sets forth a reconciliation of changes in the fair value of financial liabilities classified as Level 3 in the fair value hierarchy:

    

Derivative Instruments

Balance as of December 31, 2021

$

5,805,000

Warrant issuances

 

Warrant exercises

 

Change in fair value

 

(1,331,000)

Balance as of March 31, 2022

4,474,000

Warrant issuances

Warrant exercises

Change in fair value

(2,886,000)

Balance as of June 30, 2022

1,588,000

Warrant issuances

Warrant exercises

Change in fair value

(1,167,000)

Balance as of September 30, 2022

$

421,000