XML 48 R33.htm IDEA: XBRL DOCUMENT v3.24.1
WARRANT LIABILITY (Tables)
12 Months Ended
Dec. 31, 2023
WARRANT LIABILITY [Abstract]  
Fair Value of Warrant Liability Assumptions

The fair value of the Company’s warrant liability, measured at Level 3 in the fair value hierarchy, was calculated using the Black-Scholes model using the following inputs:


    As of December 31, 2023    
As of December 31, 2022
 
Fair value of Company’s common stock
  $ 2.93    
$
2.73
 
Dividend yield
    0%

    0%

Expected volatility
    68% - 83%
   
76% - 92%

Risk free interest rate
    5.06% - 5.54%
   
4.34% - 4.75%

Expected life (years)
    0.30      
0.91
 
Exercise price
  $ 8.00 - $28.00    
$
8.00 - $28.00
 
Fair value of financial instruments - warrants
  $ 563    
$
4,547
 
Change in Fair Value of Financial Instruments

The following table summarizes the change in fair value of the Company’s financial instruments – warrants, measured at Level 3 in the fair value hierarchy:


   
Amount
 
Balance as of January 1, 2023
 
$
4,547
 
Change in fair value of warrant liability     (3,984 )
Balance as of December 31, 2023
  $ 563  

 
  Amount
 
Balance as of January 1, 2022
  $ 369,234  
Change in fair value of warrant liability
   
(364,687
)
Balance as of December 31, 2022
 
$
4,547