Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS

v3.22.2.2
FAIR VALUE MEASUREMENTS
9 Months Ended
Sep. 30, 2022
FAIR VALUE MEASUREMENTS  
FAIR VALUE MEASUREMENTS

3.

FAIR VALUE MEASUREMENTS

The following are the major categories of assets measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021:

As of September 30, 2022

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets:

 

  

 

  

 

  

 

  

Short-term investments

$

30,539

$

$

$

30,539

Total assets measured at fair value

$

30,539

$

$

$

30,539

Liabilities:

 

 

  

 

 

Derivative liability

$

$

$

$

Warrant liability

 

 

 

1,553,186

 

1,553,186

Total liabilities measured at fair value

$

$

$

1,553,186

$

1,553,186

As of December 31, 2021

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets:

 

  

 

  

 

  

 

  

Short-term investments

$

33,248

$

$

$

33,248

Total assets measured at fair value

$

33,248

$

$

$

33,248

Liabilities:

 

  

 

  

 

  

 

  

Derivative liability

$

$

$

5,379,878

$

5,379,878

Warrant liability

 

 

 

1,871,687

 

1,871,687

Total liabilities measured at fair value

$

$

$

7,251,565

$

7,251,565

No transfers between levels have occurred in either reporting period presented. Refer to Note 8 below for further discussion on the extinguishment of the derivative liability and Note 9 below for disclosures related to the warrant liability.