FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy:

The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy:

	Fair Value Measurement at September 30, 2022
	Total		Level 1		Level 2		Level 3
Investment in common stock of Alzamend Neuro, Inc. (“Alzamend”) – a related party	$	12,394,000	$	12,394,000	$	-	$	-
Investments in marketable equity securities		8,561,000		8,561,000		-		-
Cash and marketable securities held in trust account		117,421,000		117,421,000		-		-
Investments in other equity securities		3,916,000		-		-		3,916,000
Total assets measured at fair value	$	142,292,000	$	138,376,000	$	-	$	3,916,000

	Fair Value Measurement at December 31, 2021
	Total		Level 1		Level 2		Level 3
Investment in common stock of Alzamend – a related party		13,230,000		13,230,000		-		-
Investments in marketable equity securities		40,380,000		40,380,000		-		-
Cash and marketable securities held in trust account		116,725,000		116,725,000		-		-
Investments in other equity securities		9,215,000		-		-		9,215,000
Total assets measured at fair value	$	179,550,000	$	170,335,000	$	-	$	9,215,000

The following table summarizes the changes in investments in other equity securities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the nine months ended September 30, 2022:

 The following table summarizes the changes in investments in other equity securities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the nine months ended September 30, 2022:

	Investments in other equity securities
Balance at January 1, 2022	$	9,215,000
Investment in preferred stock		6,495,000
Change in fair value of financial instruments		25,850,000
Conversion to marketable securities		(37,644,000	)
Balance at September 30, 2022	$	3,916,000

The following table presents information on certain assets measured at fair value on a recurring basis by level within the fair value hierarchy as of September 30, 2022 and December 31, 2021. There were no observable price changes or indicators of impairment for these investments during the nine months ended September 30, 2022.

The following table presents information on certain assets measured at fair value on a recurring basis by level within the fair value hierarchy as of September 30, 2022 and December 31, 2021. There were no observable price changes or indicators of impairment for these investments during the nine months ended September 30, 2022.

	Fair Value Measurement Using
	Total		Quoted prices in active markets for identical assets   (Level 1)		Other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
As of September 30, 2022
Investments in other equity securities that do not report net asset value	$	41,641,000	$	-	$	-	$	41,641,000

	Fair Value Measurement Using
	Total		Quoted prices in active markets for identical assets  (Level 1)		Other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
As of December 31, 2021
Investments in other equity securities that do not report net asset value	$	21,241,000	$	-	$	-	$	21,241,000