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DERIVATIVE LIABILITIES (Tables)
 3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Liabilities at Fair Value
The following table summarizes the change in the Company’s derivative liabilities for the three months ended March 31, 2024.
Total Derivative Liabilities (1)
Balance as of January 1, 2024$2,638 
Fair value changes5,100 
Balance as of March 31, 2024$7,738 
(1)Refer to Note 12 - Equity for the change in number of warrants during the three months ended March 31, 2024.
Fair Value Measurement Inputs and Valuation Techniques
The assumptions used in the fair value calculations as of the balance sheet dates presented include the following:
March 31, 2024 (unaudited)December 31, 2023
Stock price$0.73$0.46
Risk-free annual interest rate
4.45% - 5.21%
4.01% - 4.79%
Range of estimated possible exercise price
$1.00 - $2.086
$1.00 - $2.086
Weighted average volatility124%101%
Remaining life
0.70 - 2.70 years
1.00 - 2.90 years
Forfeiture rate
0%0%
Expected annual dividend yield0%0%
For example, the following table illustrates an increase or decrease in certain significant assumptions as of the balance sheet dates:
As of March 31, 2024As of December 31, 2023
(unaudited)
InputEffect of 10% IncreaseEffect of 10% DecreaseInputEffect of 10% IncreaseEffect of 10% Decrease
Stock price$0.73$1,540 $(1,440)$0.46$637 $(574)
Volatility124 %1,190 (1,202)101 %680 (643)