Schedule of Fair Value of Financial Assets and Liabilities |
The
following fair value of financial assets and liabilities and the input level used to determine the fair value as of June 30, 2022 and
December 31, 2021 is presented below:
Schedule of Fair Value of Financial Assets and Liabilities
|
|
Fair
Value Measurements as of
June
30, 2022
|
|
|
|
Level
1 |
|
|
Level
2 |
|
|
Level
3 |
|
|
|
|
|
|
|
|
|
|
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Short-term
investments |
|
$ |
145,000 |
|
|
$ |
- |
|
|
$ |
1,000,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Derivative liability |
|
|
- |
|
|
|
- |
|
|
|
94,300,999 |
|
Purchase consideration |
|
|
- |
|
|
|
- |
|
|
|
11,080,000 |
|
Total |
|
$ |
145,000 |
|
|
$ |
- |
|
|
$ |
106,380,999 |
|
|
|
Fair
Value Measurements as of |
|
|
|
December
31, 2021 |
|
|
|
Level
1 |
|
|
Level
2 |
|
|
Level
3 |
|
Assets: |
|
|
|
|
|
|
|
|
|
Short-term
investments |
|
$ |
178,000 |
|
|
$ |
- |
|
|
$ |
1,000,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Warrant
Liability |
|
|
- |
|
|
|
- |
|
|
|
198,566,170 |
|
Total |
|
$ |
178,000 |
|
|
$ |
- |
|
|
$ |
199,566,170 |
|
|
Schedule of Reconciliation of Liabilities Measured at Fair Value |
The
following table presents a reconciliation of the Company’s liabilities measured at fair value on a recurring basis using significant
unobservable inputs (Level 3) for the six months ended June 30, 2022 and 2021, respectively:
Schedule of Reconciliation of Liabilities Measured at Fair Value
|
|
Warrant
Liability
|
|
|
|
Purchase Consideration |
|
|
|
|
|
|
|
|
|
Balance,
January 1, 2022 |
|
$ |
198,566,170 |
|
|
$ |
- |
|
Issuance of warrants and contingent shares |
|
|
243,681,478 |
|
|
|
23,250,000 |
|
Change
in fair value of warrants and contingent shares |
|
|
(86,110,179 |
) |
|
|
(12,170,000 |
) |
Exercise
of warrants |
|
|
(227,949,858 |
) |
|
|
- |
|
Balance,
June 30, 2022 |
|
$ |
128,187,611 |
|
|
$ |
11,080,000 |
|
|
|
Warrant
Liability
|
|
|
|
|
|
Balance, January
1, 2021 |
|
$ |
- |
|
Issuance
of warrants |
|
|
228,575,715 |
|
Change
in fair value of warrants |
|
|
773,447 |
|
Exercise
of warrants |
|
|
(89,654,047 |
) |
Balance, June 30,
2021 |
|
$ |
139,695,115 |
|
|