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Fair Value of Financial Instruments
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
The Company measures and discloses fair value measurements as required by FASB ASC Topic No. 820, Fair Value Measurements and Disclosures.
Fair value is an exit price, representing the amount that would be received upon the sale of an asset or the amount that would be paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, the FASB establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:
•Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
•Level 2 – Include other inputs that are directly or indirectly observable in the marketplace.
•Level 3 – Unobservable inputs which are supported by little or no market activity.
The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
The following table presents information about the financial liabilities that are measured at fair value on a recurring basis at September 30, 2024 and December 31, 2023 (unaudited except for December 31, 2023, in thousands):
Level 3
September 30, 2024December 31, 2023
Notes Warrants
$135 $334 
Additional Warrants
14 263 
Total
$149 $597 

The following tables present the changes in the fair value (unaudited, except for December 31, 2023 and 2022, respectively, in thousands), and also includes the derivative associated with the Notes and Warrant Offering ("Notes and Warrants Offering Derivative"), which was extinguished with the retirement of the Notes on December 31, 2023:
Notes Warrants
Additional WarrantsTotal
Measurement at December 31, 2023
$334 $263 $597 
Change in fair value28 (214)(186)
Measurement at March 31, 2024
$362 $49 $411 
Change in fair value(24)(18)(42)
Measurement at June 30, 2024
$338 $31 $369 
Change in fair value
(203)(17)(220)
Measurement at September 30, 2024
$135 $14 $149 
Notes and Warrants Offering Derivative
Notes Warrants
Additional WarrantsTotal
Measurement at December 31, 2022
$1,575 $2,052 $1,265 $4,892 
Change in fair value(1,021)(1,222)(741)(2,984)
Derecognition of debt
(22)— — (22)
Measurement at March 31, 2023
$532 $830 $524 1,886 
Change in fair value(270)(108)(52)(430)
Derecognition of debt(45)— — (45)
Measurement at June 30, 2023$217 $722 $472 $1,411 
Change in fair value
(157)20 64 (73)
Derecognition of debt
(14)$— $— (14)
Measurement at September 30, 2023
$46 $742 $536 $1,324