Warrants (Tables)

3 Months Ended

Mar. 31, 2022

Warrants and Rights Note Disclosure [Abstract]

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The Black-Scholes model was used to value the liability-classified warrants. The following assumptions were used:

	March 31,			December 31,
	2022			2021
Fair market value	$	6.36		$	6.21
Exercise Price	$	6.74		$	6.74
Term		8.2			8.5
Volatility		75	%		75	%
Annual dividend		—			—
Risk-free interest rate		2.36	%		1.48	%

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The fair value of financial instruments measured on a recurring basis is as follows:

	March 31, 2022
Description	Total		Level 1		Level 2		Level 3
Liabilities:
Warrant liability	$	2,124,485		—		—	$	2,124,485
	December 31, 2021
Description	Total		Level 1		Level 2		Level 3
Liabilities:
Warrant liability	$	2,058,566		—		—	$	2,058,566

Summary Of Change in Fair value, as Determined by Level 3 inputs, for all Assets and Liabilities

The following table summarizes the change in fair value, as determined by Level 3 inputs, for all assets and liabilities using unobservable Level 3 inputs:

	Warrant Liability
Balance at December 31, 2021	$	2,058,566
Change in fair value during the three months ended March 31, 2022		65,919
Balance at March 31, 2022	$	2,124,485