Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2022 | May 16, 2022 | |
Document Information Line Items | ||
Entity Registrant Name | AIKIDO PHARMA INC. | |
Trading Symbol | AIKI | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 89,293,446 | |
Amendment Flag | false | |
Entity Central Index Key | 0000012239 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Document Period End Date | Mar. 31, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q1 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 000-05576 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 52-0849320 | |
Entity Address, Address Line One | One Rockefeller Plaza | |
Entity Address, Address Line Two | 11th Floor | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10020 | |
City Area Code | (703) | |
Local Phone Number | 992-9325 | |
Entity Interactive Data Current | Yes | |
Title of 12(b) Security | Common Stock, $0.0001 par value | |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Current assets | ||
Cash and cash equivalents | $ 49,686 | $ 65,562 |
Restricted cash | 20,953 | |
Marketable securities | 14,435 | 11,427 |
Prepaid expenses and other assets | 348 | 442 |
Short-term investments at fair value | 255 | 2,273 |
Notes receivable at fair value | 9,310 | 6,984 |
Deposits | 4,194 | 4,201 |
Total current assets | 99,181 | 90,889 |
Convertible note receivable at fair value | 2,147 | |
Investments | 18,610 | 9,465 |
Security deposit | 155 | 155 |
Total assets | 117,946 | 102,656 |
Current liabilities | ||
Accounts payable and accrued expenses | 209 | 381 |
Accrued salaries and benefits | 686 | 680 |
Total current liabilities | 895 | 1,061 |
Total liabilities | 895 | 1,061 |
Commitments and contingencies | ||
Series O Redeemable Convertible Preferred Stock, $0.0001 par value; 11,000 and 0 shares issued and outstanding, at $1,000.00 per share at March 31, 2022 and December 31, 2021 | 11,000 | |
Series P Redeemable Convertible Preferred Stock, $0.0001 par value; 11,000 and 0 shares issued and outstanding, at $1,000.00 per share at March 31, 2022 and December 31, 2021 | 11,000 | |
Stockholders’ equity | ||
Preferred stock, $.0001 par value, 50,000,000 Authorized | ||
Series D: 5,000,000 shares designated; 3,825 shares issued and outstanding at March 31, 2022 and December 31, 2021; liquidation value of $0.0001 per share | ||
Series D-1: 5,000,000 shares designated; 834 shares issued and outstanding at March 31, 2022 and December 31, 2021; liquidation value of $0.0001 per share | ||
Common stock, $0.0001 par value, 100,000,000 shares authorized; 89,293,446 and 89,681,258 shares issued at March 31, 2022 and December 31, 2021, respectively; 89,293,443 and 89,681,255 shares outstanding at March 31, 2022 and December 31, 2021, respectively | 9 | 9 |
Additional paid-in capital | 262,615 | 265,624 |
Treasury stock, at cost, 3 shares at March 31, 2022 and December 31, 2021 | (264) | (264) |
Accumulated deficit | (167,309) | (163,774) |
Total stockholders’ equity | 95,051 | 101,595 |
Total liabilities, redeemable convertible preferred stock and stockholders’ equity | $ 117,946 | $ 102,656 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares | Mar. 31, 2022 | Dec. 31, 2021 |
Preferred stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, authorized | 50,000,000 | 50,000,000 |
Common stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 89,293,446 | 89,681,258 |
Common stock, shares outstanding | 89,293,443 | 89,681,255 |
Series O Redeemable Convertible Preferred Stock | ||
Convertible preferred stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Convertible preferred stock, shares issued | 11,000 | 0 |
Convertible preferred stock, shares outstanding | 11,000 | 0 |
Convertible preferred stock, per share (in Dollars per share) | $ 1,000 | $ 1,000 |
Series P Redeemable Convertible Preferred Stock | ||
Convertible preferred stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Convertible preferred stock, shares issued | 11,000 | 0 |
Convertible preferred stock, shares outstanding | 11,000 | 0 |
Convertible preferred stock, per share (in Dollars per share) | $ 1,000 | $ 1,000 |
Series D Preferred Stock | ||
Preferred stock, authorized | 5,000,000 | 5,000,000 |
Preferred stock, issued | 3,825 | 3,825 |
Preferred stock, outstanding | 3,825 | 3,825 |
Liquidation preference (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Series D-1 Preferred Stock | ||
Preferred stock, authorized | 5,000,000 | 5,000,000 |
Preferred stock, issued | 834 | 834 |
Preferred stock, outstanding | 834 | 834 |
Liquidation preference (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Operating costs and expenses | ||
General and administrative | $ 1,787 | $ 1,212 |
Research and development | 2,016 | 72 |
Research and development - license acquired | 1,034 | |
Total operating expenses | 3,803 | 2,318 |
Loss from operations | (3,803) | (2,318) |
Other income (expenses) | ||
Other income | 64 | 135 |
Interest income | 179 | 27 |
Loss on marketable securities | (497) | (1,339) |
Change in fair value of investment | 522 | (467) |
Total other income (expenses) | 268 | (1,644) |
Net loss | (3,535) | (3,962) |
Deemed dividends related to Series O and Series P Redeemable Convertible Preferred Stock | (3,009) | |
Net Loss Attributable to Common Shareholders | $ (6,544) | $ (3,962) |
Net loss per share, basic and diluted | ||
Basic and Diluted (in Dollars per share) | $ (0.07) | $ (0.07) |
Weighted average number of shares outstanding, basic and diluted | ||
Basic and Diluted (in Shares) | 89,293,446 | 60,281,906 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Redeemable Preferred Stock and Stockholders’ Equity (Unaudited) - USD ($) $ in Thousands | Series O Redeemable Convertible Preferred Stock | Series P Redeemable Convertible Preferred Stock | Common Stock | Preferred Stock | Additional Paid-in Capital | Treasury Stock | Accumulated Deficit | Total |
Balance at Dec. 31, 2020 | $ 3 | $ 186,482 | $ (264) | $ (156,603) | $ 29,618 | |||
Balance (in Shares) at Dec. 31, 2020 | 34,920,219 | 5,559 | 3 | |||||
Issuance of common stock and warrants (net of offering costs of $8,260) | $ 6 | 77,983 | 77,989 | |||||
Issuance of common stock and warrants (net of offering costs of $8,031) (in Shares) | 53,905,927 | |||||||
Exercise of warrants | 84 | 84 | ||||||
Exercise of warrants (in Shares) | 80,000 | |||||||
Issuance of common stock for research and development license acquired | 531 | 531 | ||||||
Issuance of common stock for research and development license acquired (in Shares) | 625,000 | |||||||
Stock-based compensation | 112 | 112 | ||||||
Net loss | (3,962) | (3,962) | ||||||
Balance at Mar. 31, 2021 | $ 9 | 265,192 | $ (264) | (160,565) | 104,372 | |||
Balance (in Shares) at Mar. 31, 2021 | 89,531,146 | 5,559 | 3 | |||||
Balance at Dec. 31, 2021 | $ 9 | 265,624 | $ (264) | (163,774) | 101,595 | |||
Balance (in Shares) at Dec. 31, 2021 | 89,681,258 | 4,659 | 3 | |||||
Issuance of Series O redeemable convertible preferred stock for cash | $ 11,000 | |||||||
Issuance of Series O redeemable convertible preferred stock for cash (in Shares) | 11,000 | |||||||
Issuance of Series P redeemable convertible preferred stock for cash | $ 11,000 | |||||||
Issuance of Series P redeemable convertible preferred stock for cash (in Shares) | 11,000 | |||||||
Cost on issuance of Series O and Series P Redeemable Convertible Preferred Stock | $ (1,504) | $ (1,505) | ||||||
Deemed dividends related to Series O and Series P Redeemable Convertible Preferred Stock | 1,504 | 1,505 | (3,009) | (3,009) | ||||
Cancellation of common stock related to investment in CBM | ||||||||
Distribution of Hoth common stock (in Shares) | (387,812) | |||||||
Net loss | (3,535) | (3,535) | ||||||
Balance at Mar. 31, 2022 | $ 11,000 | $ 11,000 | $ 9 | $ 262,615 | $ (264) | $ (167,309) | $ 95,051 | |
Balance (in Shares) at Mar. 31, 2022 | 11,000 | 11,000 | 89,293,446 | 4,659 | 3 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Redeemable Preferred Stock and Stockholders’ Equity (Unaudited) (Parentheticals) $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Statement of Stockholders' Equity [Abstract] | |
Net of offering costs | $ 8,260 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash flows from operating activities | ||
Net loss | $ (3,535) | $ (3,962) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Change in fair value of short-term investment | 886 | 467 |
Change in fair value of long-term investment | (1,408) | |
Research and development-acquired license, expensed | 1,034 | |
Stock-based compensation | 112 | |
Realized loss (gain) on marketable securities | 224 | (424) |
Unrealized loss on marketable securities | 333 | 2,049 |
Realized gain on sale of digital currencies | (64) | |
Changes in operating assets and liabilities: | ||
Prepaid expenses and other assets | 66 | 16 |
Accounts payable and accrued expenses | (172) | (323) |
Accrued salaries and benefits | 6 | 5 |
Interest receivable on convertible note | (179) | (27) |
Deposits | 7 | |
Net cash used in operating activities | (3,836) | (1,053) |
Cash flows from investing activities | ||
Purchase of marketable securities | (27,096) | (83,586) |
Sale of marketable securities | 24,662 | 14,335 |
Proceeds from sale of digital currencies | 93 | |
Purchase of short-term and long-term investments | (7,737) | |
Purchase of research and development licenses | (503) | |
Purchase of convertible note | (2,000) | |
Net cash used in investing activities | (10,078) | (71,754) |
Cash flows from financing activities | ||
Proceeds from issuance of common stock and warrants, net of offering cost | 77,989 | |
Proceeds from issuance of Series O and Series P Redeemable Convertible Preferred Stock, net of discount and offering cost | 18,991 | |
Proceeds from exercise of warrants | 84 | |
Net cash provided by financing activities | 18,991 | 78,073 |
Net increase in cash and cash equivalents and restricted cash | 5,077 | 5,266 |
Cash and cash equivalents and restricted cash, beginning of period | 65,562 | 2,715 |
Cash and cash equivalents and restricted cash, end of period | 70,639 | 7,981 |
Non-cash investing and financing activities | ||
Transfer from short-term investment to marketable securities | 1,482 | |
Reclassify from convertible note receivable to notes receivable at fair value | $ 2,147 |
Organization and Description of
Organization and Description of Business and Recent Developments | 3 Months Ended |
Mar. 31, 2022 | |
Organization and Description of Business and Recent Developments [Abstract] | |
Organization and Description of Business and Recent Developments | Note 1. Organization and Description of Business and Recent Developments Organization and Description of Business AIkido Pharma Inc. (the “Company”), formerly known as Spherix Incorporated, was initially formed in 1967. Since 2017, the Company has operated as a biotechnology company with a diverse portfolio of small-molecule anticancer and antiviral therapeutics in development. The Company’s pipeline consists of patented technology from leading universities and researchers. The Company’s innovative therapeutic drug pipeline is currently being advanced through strong collaborations with renowned educational institutions, including the University of Texas at Austin, the University of Maryland, Baltimore and Wake Forest University. The Company’s oncology therapeutics include prospective treatments for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). The Company is also developing a broad-spectrum antiviral platform, in which the lead compounds have activity in cell-based assays against multiple viruses including Influenza virus, Ebolavirus and Marburg virus, SARS-CoV, MERS-CoV, and SARS-CoV-2, the cause of COVID-19. As a result of the Company’s biotechnology research and development and associated investments and acquisitions, its business portfolio now focuses on the treatment of three different cancers and multiple types of viral infections. The Company’s pancreatic drug candidate, DHA-dFdC, developed at and licensed from the University of Texas at Austin, is a new compound that it hopes will become the next generation of chemotherapy treatment for advanced pancreatic cancer. DHA-dFdC overcomes tumor cell resistance to current chemotherapeutic drugs and is well tolerated in preclinical toxicity tests. Preclinical studies have also indicated that DHA-dFdC inhibits pancreatic cancer cell growth (up to 100,000-fold more potent that gemcitabine, a current standard therapy), accumulates preferentially in pancreatic tissue and has demonstrated activities against other cancers, including leukemia, lung and melanoma. The Company’s AML and ALL compound, developed at the Wake Forest University, is a targeted therapeutic designed to overcome multiple resistance mechanisms observed with the current standard of care. The Company’s broad-spectrum antiviral platform was developed at the University of Maryland Baltimore (“UMB”), which granted the Company an exclusive worldwide Master License Agreement (MLA”) to technology covered by three separate patent applications. The licensed technology comprises broadly acting pan-viral inhibitory compounds targeting multiple viral pathogens. The technology was invented by UMB scientists Drs. Matthew Frieman, Alexander MacKerell and Stuart Watson. The Company has also executed a Sponsored Research Agreement with UMB to support the development of the technology under the direction of these inventors at UMB. |
Liquidity and Capital Resources
Liquidity and Capital Resources | 3 Months Ended |
Mar. 31, 2022 | |
Liquidity and Capital Resources [Abstract] | |
Liquidity and Capital Resources | Note 2. Liquidity and Capital Resources The Company continues to incur ongoing administrative and other expenses, including public company expenses, in excess of corresponding (non-financing related) revenue. While the Company continues to implement its business strategy, it intends to finance its activities through managing current cash on hand from the Company’s past debt and equity offerings. Based upon projected cash flow requirements, the Company has adequate cash to fund its operations for at least the next twelve months from the date of the issuance of these consolidated financial statements. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2022 | |
Summary of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 3. Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated interim financial statements include the accounts of the Company and its wholly-owned subsidiary, AIkido Labs LLC. All significant intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and on the same basis as the Company prepares its annual audited consolidated financial statements. The condensed consolidated balance sheet as of March 31, 2022, condensed consolidated statements of operations for the three months ended March 31, 2022 and 2021, condensed consolidated statements of stockholders’ equity for the three months ended March 31, 2022 and 2021, and the condensed consolidated statements of cash flows for the three months ended March 31, 2022 and 2021 are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The results for the three months ended March 31, 2022 are not necessarily indicative of results to be expected for the year ending December 31, 2022 or for any future interim period. The condensed consolidated balance sheet at December 31, 2021 has been derived from audited financial statements; however, it does not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2021 and notes thereto included in the Company’s annual report on Form 10-K, which was filed with the SEC on March 28, 2022. Use of Estimates The accompanying condensed consolidated financial statements have been prepared in conformity with US GAAP. This requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the period. The Company’s significant estimates and assumptions include stock-based compensation, the valuation of investments, the valuation of convertible note and the valuation allowance related to the Company’s deferred tax assets. Certain of the Company’s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that these external factors could have an effect on the Company’s estimates and could cause actual results to differ from those estimates and assumptions. Significant Accounting Policies Other than as described below, there have been no material changes in the Company’s significant accounting policies to those previously disclosed in the Company’s annual report on Form 10-K, which was filed with the SEC on March 28, 2022. Redeemable Convertible Preferred Stock The convertible preferred stock was not unconditionally redeemable at the option of the holder thereof. However, the convertible preferred stock was contingently redeemable upon certain liquidation events. As redemption by the holders was not solely within the control of the Company, all of the outstanding convertible preferred stock was classified as temporary equity in the condensed consolidated balance sheets. Restricted Cash The following table provides a summary of the Company’s cash and restricted cash total as presented in the condensed consolidated statements of cash flows for the three months ended March 31, 2022 (in thousands): March 31, Cash $ 49,686 Restricted cash 20,953 Total cash and restricted cash $ 70,639 In accordance with the public offering of 11,000 shares of Series O Redeemable Convertible Preferred Stock and 11,000 shares of Series P Redeemable Convertible Preferred Stock, $21.0 million is held in escrow and disbursed to the Company only upon conversion of the Series O and Series P Preferred Stock. The proceeds are included within restricted cash on the accompanying consolidated balance sheets. See Note 10. Recent accounting pronouncements Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if currently adopted, would have an effect on the Company’s condensed consolidated financial statements. |
Investments in Marketable Secur
Investments in Marketable Securities | 3 Months Ended |
Mar. 31, 2022 | |
Investments in Marketable Securities [Abstract] | |
Investments in Marketable Securities | Note 4. Investments in Marketable Securities The realized gain or loss, unrealized gain or loss, and dividend income related to marketable securities for the three months ended March 31, 2022 and 2021, which are recorded as a component of gains and (losses) on marketable securities on the consolidated statements of operations, are as follows ($ in thousands): Three Months Ended 2022 2021 Realized (loss) gain $ (224 ) $ 424 Unrealized loss (333 ) (2,049 ) Dividend income 60 286 $ (497 ) $ (1,339 ) |
Short-term Investments
Short-term Investments | 3 Months Ended |
Mar. 31, 2022 | |
Shortterm Investment Investment In Dat Chat Inc [Abstract] | |
Short-term investments | Note 5. Short-term investments The following table presents the Company’s short-term investments at March 31, 2022 and December 31, 2021 ($ in thousands): March 31, December 31, Investment in Hoth Therapeutics, Inc. 24 770 Investment in DatChat, Inc. - 1,084 Investment in Vicinity Motor Corp. 231 419 Total 255 2,273 The change in the fair value of the for the three months ended March 31, 2022 is summarized as follows: Beginning balance $ 2,273 Transfer to marketable securities (1,482 ) Change in fair value of investment (886 ) Realized gain recognized through sale of marketable securities 350 Ending balance $ 255 Investment in Hoth Therapeutics, Inc. On March 11, 2022, 1,130,701 shares of Hoth common stock were transferred to marketable securities account and were sold for net proceeds of approximately $0.9 million. The following summarizes the Company investment in Hoth as of March 31, 2022 and December 31, 2021: Security Name Shares Fair value Fair value HOTH 35,714 $ 0.69 $ 24 Security Name Shares Fair value Fair value HOTH 1,166,415 $ 0.66 $ 770 Investment in DatChat, Inc. On February 14, 2022, 357,916 shares (valued at $2.21 per share) of DatChat common stock were transferred to marketable securities account and were sold for net proceeds of approximately $0.8 million. Investment in Vicinity Motor Corp. On October 25, 2021, the Company entered into a warrant agreement with Vicinity Motor Corp. (“Vicinity”) that entitles the Company to purchase up to 246,399 shares of Vicinity common stock at $5.10 per share. The warrant expires on October 25, 2024. The fair value was determined using a Black-Scholes simulation. The Company recorded the fair value of the Vicinity warrant of approximately $0.3 and $0.4 million in the consolidated balance sheet as of March 31, 2022 and December 31, 2021, respectively, reflecting the benefit received as part of its purchase of Vicinity common shares through its brokerage account. The initial investment in Vicinity was measured at approximately $0.6 million. Gains or losses associated with changes in the fair value of investments in Vicinity warrants are recognized as Change in fair value of investment on consolidated statements of operations. During the three months ended March 31, 2022, the Company recorded approximately $188,000 of change in fair value of investment for this investment. The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates: March 31, December 31, Option term (in years) 2.6 2.8 Volatility 93.90 % 95.52 % Risk-free interest rate 2.45 % 0.97 % Expected dividends 0.00 % 0.00 % Stock price $ 2.40 $ 3.50 |
Long-Term Investments
Long-Term Investments | 3 Months Ended |
Mar. 31, 2022 | |
Long-Term Investments [Abstract] | |
Long-Term Investments | Note 6. Long-Term Investments Effective January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2016-01 and related ASU 2018-03 concerning recognition and measurement of financial assets and financial liabilities. In adopting this guidance, the Company has made an accounting policy election to adopt an adjusted cost method measurement alternative for investments in equity securities without readily determinable fair values. For equity investments that are accounted for using the measurement alternative, the Company initially records equity investments at cost but is required to adjust the carrying value of such equity investments through earnings when there is an observable transaction involving the same or a similar investment with the same issuer or upon an impairment. The following table presents the Company’s other investments at March 31, 2022 and December 31, 2021 ($ in thousands): March 31, December 31, Investment in Kerna Health Inc $ 3,800 $ 3,800 Investment in Kaya Holding Corp 2,340 1,665 Investment in Tevva Motors 3,364 2,000 Investment in ASP Isotopes 1,000 1,000 Investment in AerocarveUS Corporation 1,000 1,000 Investment in Qxpress 1,000 - Investment in Masterclass 170 - Investment in Kraken 486 - Investment in Epic Games 1,500 - Investment in Tesspay 1,250 - Investment in SpaceX 1,500 - Investment in Databricks 1,200 - Total $ 18,610 $ 9,465 The change in the value of the for the three months ended March 31, 2022 is summarized as follows: Beginning balance $ 9,465 Purchase of investments 7,737 Adjustment to carrying value of investments 1,408 Ending balance $ 18,610 Investment in Kerna Health Inc The investment in Kerna Health Inc. was valued at $3.8 million as of March 31, 2022. Investment in Kaya Holding Corp On March 2, 2022, the Company purchased additional 3,375,000 shares of common stock of Kaya Holding Corp., (“Kaya”) for approximately $0.6 million. The Company recorded approximate $34,000 in unrealized gain on this investment during the three months ended March 31, 2022. The investment in Kaya was valued at approximately $2.3 million as of March 31, 2022. Investment in Tevva Motors Tevva Motors (“Tevva”), a private company, raised capital during the first quarter of 2022, increasing its share price value to $58.0 per share. Therefore, the Company recorded a $1.4 million unrealized gain on this investment during the three months ended March 31, 2022. The investment in Tevva was valued at approximately $3.4 million as of March 31, 2022. Investment in ASP Isotopes The investment in ASP Isotopes Inc. was valued at $1.0 million as of March 31, 2022. Investment in AerocarveUS Corporation The investment in AerocarveUS Corporation was valued at $1.0 million as of March 31, 2022. Investment in Qxpress On January 27, 2022, the Company entered into a securities purchase agreement (the “Qxpress Securities Purchase Agreement”) with Qxpress. Under the Qxpress Securities Purchase Agreement, the Company agreed to purchase 46,780 shares of common stock of Qxpress for $1.0 million. The investment in Qxpress was valued at $1.0 million as of March 31, 2022. Investment in Masterclass On March 11, 2022, the Company entered into a securities purchase agreement (the “Masterclass Securities Purchase Agreement”) with Masterclass. Under the Masterclass Securities Purchase Agreement, the Company agreed to purchase 4,841 shares of common stock of Masterclass for approximately $0.2 million. The investment in Masterclass was valued at approximately $0.2 million as of March 31, 2022. Investment in Kraken On March 11, 2022, the Company entered into a securities purchase agreement (the “Kraken Securities Purchase Agreement”) with Kraken. Under the Kraken Securities Purchase Agreement, the Company agreed to purchase a total of 8,409 shares of common stock of Kraken for approximately $0.5 million. The investment in Kraken was valued at approximately $0.5 million as of March 31, 2022. Investment in Epic Games On March 22, 2022, the Company entered into a securities purchase agreement (the “Epic Games Securities Purchase Agreement”) with Epic Games. Under the Epic Games Securities Purchase Agreement, the Company agreed to purchase an aggregate of 901 shares of common stock of Epic Games for a total $1.5 million. The investment in Epic Games was valued at $1.5 million as of March 31, 2022. Investment in Tesspay On March 23, 2022, the Company entered into a securities purchase agreement (the “Tesspay Securities Purchase Agreement”) with Tesspay. Under the Tesspay Securities Purchase Agreement, the Company agreed to purchase 1,000,000 shares of common stock of Tesspay for approximately $0.2 million. The Company also invested an additional $1.0 million for pre-IPO. Tesspay, a private company, raised capital during the first quarter of 2022, increasing its share price value to $0.25 per share. Therefore, the Company recorded $10,000 in unrealized gain on this investment during the three months ended March 31, 2022. The investment in Tesspay was valued at approximately $1.3 million as of December 31, 2021. Investment in SpaceX On March 30, 2022, the Company entered into a securities purchase agreement (the “SpaceX Securities Purchase Agreement”) with SpaceX. Under the SpaceX Securities Purchase Agreement, the Company agreed to purchase a total of 100,000 shares of common stock of SpaceX for $1.5 million. The investment in SpaceX was valued at $1.5 million as of March 31, 2022. Investment in Databricks On March 25, 2022, the Company entered into a securities purchase agreement (the “Databricks Securities Purchase Agreement”) with Databricks. Under the Databricks Securities Purchase Agreement, the Company agreed to purchase an aggregate of 3,830 shares of common stock of Databricks for a total $1.2 million. The investment in Databricks was valued at $1.2 million as of March 31, 2022. |
Notes Receivable
Notes Receivable | 3 Months Ended |
Mar. 31, 2022 | |
Notes Receivable [Abstract] | |
Notes Receivable | Note 7. Notes Receivable The following table presents the Company’s notes receivable at March 31, 2022 ($ in thousands): Maturity Stated Principal Interest Fair Value Short-term convertible notes receivable Convergent Investment 01/29/2023 8 % $ 2,000 $ 187 $ 2,187 Slinger Bag Inc Investment 08/06/2022 8 % $ 1,400 $ 73 $ 1,473 Nano Innovations Inc Investment 12/26/2022 10 % $ 750 $ 20 $ 769 Short-term notes receivable Raefan Group LLC Investment 10/13/2022 8 % $ 2,780 $ 103 $ 2,882 Raefan Industries LLC Investment 12/06/2022 8 % $ 1,950 $ 49 $ 1,999 Total $ 9,310 Convergent Investment The Company recorded an interest income receivable of approximately $0.2 million on the Convergent Convertible Note as of March 31, 2022. Raefan Group LLC Investment The Company recorded an interest income receivable of approximately $0.1 million on the Raefan Group Promissory Note as of March 31, 2022. Raefan Industries LLC Investment The Company recorded an interest income receivable of approximately $49,000 on the Raefan Industries Promissory Note as of March 31, 2022. Slinger Bag Inc Investment The Company recorded an interest income receivable of approximately $73,000 on the Slinger Bag Convertible Note as of March 31, 2022. Nano Innovations Inc Investment The Company recorded an interest income receivable of approximately $20,000 on the Nano Convertible Note as of March 31, 2022. |
Fair Value of Financial Assets
Fair Value of Financial Assets and Liabilities | 3 Months Ended |
Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Assets and Liabilities | Note 8. Fair Value of Financial Assets and Liabilities Financial instruments, including cash and cash equivalents, accounts payable and accrued liabilities are carried at cost, which management believes approximates fair value due to the short-term nature of these instruments. The Company measures the fair value of financial assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. The Company uses three levels of inputs that may be used to measure fair value: Level 1 - quoted prices in active markets for identical assets or liabilities Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 - inputs that are unobservable (for example, cash flow modeling inputs based on assumptions) Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may fall into different levels of the fair value hierarchy. In those instances, the fair value measurement is required to be classified using the lowest level of input that is significant to the fair value measurement. Such determination requires significant management judgment. The following table presents the Company’s assets and liabilities that are measured at fair value at March 31, 2022 and December 31, 2021 ($ in thousands): Fair value measured at March 31, 2022 Total at Quoted Significant other Significant 2022 (Level 1) (Level 2) (Level 3) Assets Marketable securities: Equities $ 13,500 $ 13,500 $ - $ - Fixed Income $ 935 $ 935 Total marketable securities $ 14,435 $ 14,435 $ - $ - Short-term investment $ 255 $ 24 $ - $ 231 Notes receivable at fair value $ 9,310 $ - $ - $ 9,310 Fair value measured at December 31, 2021 Total at Quoted Significant other Significant 2021 (Level 1) (Level 2) (Level 3) Assets Marketable securities: Equities $ 11,427 $ 11,427 $ - $ - Total marketable securities $ 11,427 $ 11,427 $ - $ - Short-term investment $ 2,273 $ 1,854 $ - $ 419 Notes receivable at fair value $ 6,984 $ - $ - $ 6,984 Convertible note receivable $ 2,147 $ - $ - $ 2,147 Level 3 Measurement The following tables set forth a summary of the changes in the fair value of the Company’s Level 3 financial assets that are measured at fair value on a recurring basis ($ in thousands): Notes receivable at fair value at December 31, 2021 $ 6,984 Accrued interest receivable at December 31, 2021 179 Reclassify from convertible note receivable to notes receivable at fair value 2,147 Notes receivable at fair value at March 31, 2022 $ 9,310 Short-term investment at December 31, 2021 $ 419 Change in fair value of investment (188 ) Short-term investment at March 31, 2022 $ 231 Short-term Note Receivable and Convertible Notes Receivable The Company has elected to measure the purchases of the notes using the fair value option at each reporting date. Under the fair value option, bifurcation of an embedded derivative is not necessary, and all related gains and losses on the host contract and derivative due to change in the fair value will be reflected in interest income and other, net in the consolidated statements of operations. The value at which the Company’s convertible note is carried on its books is adjusted to estimated fair value at the end of each quarter, taking into account general economic and stock market conditions and those characteristics specific to the underlying investments. Interest accrues on the unpaid principal balance on a quarterly basis and is recognized in interest income in the consolidated statements of operations. Convergent Investment As of March 31, 2022, the fair value of the Convergent Convertible Note was measured at $2.2 million, taking into consideration cost of the investment, market participant inputs, market conditions, liquidity, operating results and other qualitative and quantitative factors. No change in fair value for principal was recorded during the three months ended March 31, 2022. Raefan Group LLC Investment As of March 31, 2022, the fair value of the Raefan Group Promissory Note was measured at approximately $2.9 million, taking into consideration cost of the investment, market participant inputs, market conditions, liquidity, operating results and other qualitative and quantitative factors. No change in fair value for principal was recorded during the three months ended March 31, 2022. Raefan Industries LLC Investment As of March 31, 2022, the fair value of the Raefan Industries Promissory Note was measured at approximately $2.0 million, taking into consideration cost of the investment, market participant inputs, market conditions, liquidity, operating results and other qualitative and quantitative factors. No change in fair value for principal was recorded during the three months ended March 31, 2022. Slinger Bag Inc Investment As of March 31, 2022, the fair value of the Slinger Bag Convertible Note was measured at $1.5 million, taking into consideration cost of the investment, market participant inputs, market conditions, liquidity, operating results and other qualitative and quantitative factors. No change in fair value for principal was recorded during the three months ended March 31, 2022. The Company believes that the fair value of the warrant of Slinger Bag is immaterial. Nano Innovations Inc Investment As of March 31, 2022, the fair value of the Nano Convertible Note was measured at approximately $0.8 million, taking into consideration cost of the investment, market participant inputs, market conditions, liquidity, operating results and other qualitative and quantitative factors. No change in fair value for principal was recorded during the three months ended March 31, 2022. The Company believes that the fair value of the warrant of Nano is immaterial. |
Net Loss per Share Attributable
Net Loss per Share Attributable to Common Stockholders | 3 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
Net Loss per Share Attributable to Common Stockholders | Note 9. Net Loss per Share Attributable to Common Stockholders Basic loss per common share is computed by dividing the net loss allocable to common stockholders by the weighted-average number of shares of common stock or common stock equivalents outstanding. Diluted loss per common share is computed similar to basic loss per share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock. Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share at March 31, 2022 and 2021 are as follows: As of March 31, 2022 2021 Convertible preferred stock 22,000,577 688 Warrants to purchase common stock 7,561,701 5,801,701 Options to purchase common stock 479,654 484,304 Total 30,041,932 6,286,693 |
Redeemable Convertible Preferre
Redeemable Convertible Preferred Stock | 3 Months Ended |
Mar. 31, 2022 | |
Redeemable Convertible Preferred Stock [Abstract] | |
Redeemable Convertible Preferred Stock | Note 10. Redeemable Convertible Preferred Stock Series O and Series P Redeemable Convertible Preferred Stock On February 24, 2022, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional investors (the “Investors”), pursuant to which the Company agreed to issue and sell, in concurrent registered direct offerings (the “Offerings”), (i) 11,000 shares of the Company’s Series O Redeemable Convertible Preferred Stock, par value $0.001 per share (the “Series O Preferred Stock”), and (ii) 11,000 shares of the Company’s Series P Redeemable Convertible Preferred Stock, par value $0.001 per share (the “Series P Preferred Stock” and together with the Series O Preferred Stock, the “Preferred Stock”), in each case, at an offering price of $952.38 per share, representing a 5% original issue discount to the stated value of $1,000 per share of Preferred Stock, for gross proceeds of each Offering of $10,476.180, or approximately $21.9 million in the aggregate for the Offerings, before the deduction of the placement agent’s fee and offering expenses. The shares of Series O Preferred Stock will have a stated value of $1,000 per share and will be convertible, at a conversion price of $1.00 per share, into 11,000,000 shares of common stock (subject in certain circumstances to adjustments). The shares of Series P Preferred Stock will have a stated value of $1,000 per share and will be convertible, at a conversion price of $1.00 per share, into 11,000,000 shares of common stock (subject in certain circumstances to adjustments). The Series O Preferred Stock and the Series P Preferred Stock are being offered by the Company pursuant to a registration statement on Form S-3 (File No. 333-238172) (the “Registration Statement”) filed under the Securities Act of 1933, as amended (the “Securities Act”). The Purchase Agreement contains customary representations, warranties and agreements by the Company and customary conditions to closing. The closing of the Offerings occurred on March 2, 2022. In connection with this transaction, the Company placed $21.0 million in an escrow account which was recorded as restricted cash on the Condensed Consolidated Balance Sheets as of March 31, 2022. In connection with the Offerings, the Company has entered into an engagement agreement (the “Engagement Agreement Agreement”) with H.C Wainwright & Company, LLC, as placement agent (“HCW”), pursuant to which the Company agreed to pay HCW an aggregate cash fee equal to 8% of the aggregate gross proceeds raised in the offerings and issue HCW common stock purchase warrants to purchase up to 1,760,000 shares of common stock in the aggregate at an exercise price of $1.25. The warrants were recorded as a component of stockholders’ equity in accordance with 815. Redemption Rights After (i) the earlier of (1) the receipt of stockholder approval and (2) the date that is 90 days following the Original Issue Date (the date of the first issuance of any shares of the Preferred Stock regardless of the number of transfers of any particular shares of Preferred Stock and regardless of the number of certificates which may be issued to evidence such Preferred Stock) and (ii) before the date that is 120 days after the Original Issue Date (the “ Redemption Period As a result, the Preferred Stock were recorded separately from stockholders’ equity because they are redeemable upon the occurrence of redemption events that are considered not solely within the Company’s control. During the three months ended March 31, 2022, the Company recognized approximately $3.0 in deemed dividends related to the Preferred Stock in the condensed consolidated statements of operations and the condensed consolidated statements of changes in redeemable preferred stock and stockholders’ equity. |
Stockholders_ Equity
Stockholders’ Equity | 3 Months Ended |
Mar. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
Stockholders’ Equity | Note 11. Stockholders’ Equity Common Stock One June 5, 2020, CBM Biopharma, Inc. (“CBM”) approved a distribution to its stockholders of 1,939,058 the Company’s common shares. The Company, as one of CBM’s shareholder, received 387,812 shares of its common stock. The Company cancelled 387,812 shares received on January 1, 2022. Warrants A summary of warrant activity for the nine months ended March 31, 2022 is presented below: Warrants Weighted Total Weighted Outstanding as of December 31, 2021 5,801,701 $ 1.86 - 3.87 Issued 1,760,000 1.25 - 4.90 Outstanding as of March 31, 2022 7,561,701 $ 1.72 - 3.95 Stock Options A summary of stock option activity for the nine months ended March 31, 2022 is presented below: Number of Weighted Total Weighted Outstanding as of December 31, 2021 479,654 $ 32.35 $ - 8.2 Outstanding as of March 31, 2022 479,654 $ 32.35 $ - 8.0 Options vested and exercisable 479,654 $ 32.35 $ - 8.0 Stock-based compensation associated with the amortization of stock option expense was approximately $0 and $0.1 million for the three months ended March 31, 2022 and 2021, respectively. All stock compensation was recorded as a component of general and administrative expenses. Estimated future stock-based compensation expense relating to unvested stock options is approximately $0. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 12. Commitments and Contingencies Legal Proceedings In the past, in the ordinary course of business, the Company actively pursued legal remedies to enforce its intellectual property rights and to stop unauthorized use of our technology. Other than ordinary routine litigation incidental to the business, we know of no material, active or pending legal proceedings against us. Risks and Uncertainties - COVID-19 Management continues to valuate the impact of the COVID-19 pandemic on the industry and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations and/or search for drug candidates, the specific impact is not readily determinable as of the date of these consolidated financial statements. The COVID-19 pandemic has slowed down some drug development efforts and has slowed the acquisition of new drugs. However, the impact of the pandemic and ensuing lockdowns are easing. The process of drug development and further acquisitions is now continuing. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 13. Subsequent Events The Company evaluated events that have occurred after the balance sheet date through the date the condensed consolidated financial statements were issued. Based upon the evaluation and transactions, the Company did not identify any other subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Principles of Consolidation | Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated interim financial statements include the accounts of the Company and its wholly-owned subsidiary, AIkido Labs LLC. All significant intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and on the same basis as the Company prepares its annual audited consolidated financial statements. The condensed consolidated balance sheet as of March 31, 2022, condensed consolidated statements of operations for the three months ended March 31, 2022 and 2021, condensed consolidated statements of stockholders’ equity for the three months ended March 31, 2022 and 2021, and the condensed consolidated statements of cash flows for the three months ended March 31, 2022 and 2021 are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The results for the three months ended March 31, 2022 are not necessarily indicative of results to be expected for the year ending December 31, 2022 or for any future interim period. The condensed consolidated balance sheet at December 31, 2021 has been derived from audited financial statements; however, it does not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2021 and notes thereto included in the Company’s annual report on Form 10-K, which was filed with the SEC on March 28, 2022. |
Use of Estimates | Use of Estimates The accompanying condensed consolidated financial statements have been prepared in conformity with US GAAP. This requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the period. The Company’s significant estimates and assumptions include stock-based compensation, the valuation of investments, the valuation of convertible note and the valuation allowance related to the Company’s deferred tax assets. Certain of the Company’s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that these external factors could have an effect on the Company’s estimates and could cause actual results to differ from those estimates and assumptions. |
Significant Accounting Policies | Significant Accounting Policies Other than as described below, there have been no material changes in the Company’s significant accounting policies to those previously disclosed in the Company’s annual report on Form 10-K, which was filed with the SEC on March 28, 2022. |
Redeemable Convertible Preferred Stock | Redeemable Convertible Preferred Stock The convertible preferred stock was not unconditionally redeemable at the option of the holder thereof. However, the convertible preferred stock was contingently redeemable upon certain liquidation events. As redemption by the holders was not solely within the control of the Company, all of the outstanding convertible preferred stock was classified as temporary equity in the condensed consolidated balance sheets. |
Recent accounting pronouncements | Recent accounting pronouncements Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if currently adopted, would have an effect on the Company’s condensed consolidated financial statements. |
Restricted Cash | Restricted Cash The following table provides a summary of the Company’s cash and restricted cash total as presented in the condensed consolidated statements of cash flows for the three months ended March 31, 2022 (in thousands): March 31, Cash $ 49,686 Restricted cash 20,953 Total cash and restricted cash $ 70,639 In accordance with the public offering of 11,000 shares of Series O Redeemable Convertible Preferred Stock and 11,000 shares of Series P Redeemable Convertible Preferred Stock, $21.0 million is held in escrow and disbursed to the Company only upon conversion of the Series O and Series P Preferred Stock. The proceeds are included within restricted cash on the accompanying consolidated balance sheets. See Note 10. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Schedule of condensed consolidated statements of cash flows | March 31, Cash $ 49,686 Restricted cash 20,953 Total cash and restricted cash $ 70,639 |
Investments in Marketable Sec_2
Investments in Marketable Securities (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Investments in Marketable Securities [Abstract] | |
Schedule of component of gains and (losses) on marketable securities | Three Months Ended 2022 2021 Realized (loss) gain $ (224 ) $ 424 Unrealized loss (333 ) (2,049 ) Dividend income 60 286 $ (497 ) $ (1,339 ) |
Short-term Investments (Tables)
Short-term Investments (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Shortterm Investment Investment In Dat Chat Inc [Abstract] | |
Schedule of short-term investment | March 31, December 31, Investment in Hoth Therapeutics, Inc. 24 770 Investment in DatChat, Inc. - 1,084 Investment in Vicinity Motor Corp. 231 419 Total 255 2,273 |
Schedule of change in the fair value of the short-term investments | Beginning balance $ 2,273 Transfer to marketable securities (1,482 ) Change in fair value of investment (886 ) Realized gain recognized through sale of marketable securities 350 Ending balance $ 255 |
Schedule of company investment in Hoth | Security Name Shares Fair value Fair value HOTH 35,714 $ 0.69 $ 24 Security Name Shares Fair value Fair value HOTH 1,166,415 $ 0.66 $ 770 |
Schedule of quantitative information fair value measurements inputs | March 31, December 31, Option term (in years) 2.6 2.8 Volatility 93.90 % 95.52 % Risk-free interest rate 2.45 % 0.97 % Expected dividends 0.00 % 0.00 % Stock price $ 2.40 $ 3.50 |
Long-Term Investments (Tables)
Long-Term Investments (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Long-Term Investments [Abstract] | |
Schedule of other investments | March 31, December 31, Investment in Kerna Health Inc $ 3,800 $ 3,800 Investment in Kaya Holding Corp 2,340 1,665 Investment in Tevva Motors 3,364 2,000 Investment in ASP Isotopes 1,000 1,000 Investment in AerocarveUS Corporation 1,000 1,000 Investment in Qxpress 1,000 - Investment in Masterclass 170 - Investment in Kraken 486 - Investment in Epic Games 1,500 - Investment in Tesspay 1,250 - Investment in SpaceX 1,500 - Investment in Databricks 1,200 - Total $ 18,610 $ 9,465 |
Schedule of long-term investments | Beginning balance $ 9,465 Purchase of investments 7,737 Adjustment to carrying value of investments 1,408 Ending balance $ 18,610 |
Notes Receivable (Tables)
Notes Receivable (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Receivable [Abstract] | |
Schedule of notes receivable | Maturity Stated Principal Interest Fair Value Short-term convertible notes receivable Convergent Investment 01/29/2023 8 % $ 2,000 $ 187 $ 2,187 Slinger Bag Inc Investment 08/06/2022 8 % $ 1,400 $ 73 $ 1,473 Nano Innovations Inc Investment 12/26/2022 10 % $ 750 $ 20 $ 769 Short-term notes receivable Raefan Group LLC Investment 10/13/2022 8 % $ 2,780 $ 103 $ 2,882 Raefan Industries LLC Investment 12/06/2022 8 % $ 1,950 $ 49 $ 1,999 Total $ 9,310 |
Fair Value of Financial Asset_2
Fair Value of Financial Assets and Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Schedule of fair value assets and liabilities | Fair value measured at March 31, 2022 Total at Quoted Significant other Significant 2022 (Level 1) (Level 2) (Level 3) Assets Marketable securities: Equities $ 13,500 $ 13,500 $ - $ - Fixed Income $ 935 $ 935 Total marketable securities $ 14,435 $ 14,435 $ - $ - Short-term investment $ 255 $ 24 $ - $ 231 Notes receivable at fair value $ 9,310 $ - $ - $ 9,310 Fair value measured at December 31, 2021 Total at Quoted Significant other Significant 2021 (Level 1) (Level 2) (Level 3) Assets Marketable securities: Equities $ 11,427 $ 11,427 $ - $ - Total marketable securities $ 11,427 $ 11,427 $ - $ - Short-term investment $ 2,273 $ 1,854 $ - $ 419 Notes receivable at fair value $ 6,984 $ - $ - $ 6,984 Convertible note receivable $ 2,147 $ - $ - $ 2,147 |
Schedule of fair value of the company's level 3 financial assets | Notes receivable at fair value at December 31, 2021 $ 6,984 Accrued interest receivable at December 31, 2021 179 Reclassify from convertible note receivable to notes receivable at fair value 2,147 Notes receivable at fair value at March 31, 2022 $ 9,310 Short-term investment at December 31, 2021 $ 419 Change in fair value of investment (188 ) Short-term investment at March 31, 2022 $ 231 |
Net Loss per Share Attributab_2
Net Loss per Share Attributable to Common Stockholders (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
Schedule of potentially diluted loss per share | As of March 31, 2022 2021 Convertible preferred stock 22,000,577 688 Warrants to purchase common stock 7,561,701 5,801,701 Options to purchase common stock 479,654 484,304 Total 30,041,932 6,286,693 |
Stockholders_ Equity (Tables)
Stockholders’ Equity (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
Schedule of warrant activity | Warrants Weighted Total Weighted Outstanding as of December 31, 2021 5,801,701 $ 1.86 - 3.87 Issued 1,760,000 1.25 - 4.90 Outstanding as of March 31, 2022 7,561,701 $ 1.72 - 3.95 |
Schedule of option activity | Number of Weighted Total Weighted Outstanding as of December 31, 2021 479,654 $ 32.35 $ - 8.2 Outstanding as of March 31, 2022 479,654 $ 32.35 $ - 8.0 Options vested and exercisable 479,654 $ 32.35 $ - 8.0 |
Organization and Description _2
Organization and Description of Business and Recent Developments (Details) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Description of biotechnology research development | Preclinical studies have also indicated that DHA-dFdC inhibits pancreatic cancer cell growth (up to 100,000-fold more potent that gemcitabine, a current standard therapy), accumulates preferentially in pancreatic tissue and has demonstrated activities against other cancers, including leukemia, lung and melanoma. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2022USD ($)shares | |
Series O Redeemable Convertible Preferred Stock [Member] | |
Summary of Significant Accounting Policies (Details) [Line Items] | |
Public offering shares | 11,000 |
Series O Redeemable Convertible Preferred Stock [Member] | Series P Redeemable Convertible Preferred Stock [Member] | |
Summary of Significant Accounting Policies (Details) [Line Items] | |
Cash held in escrow (in Dollars) | $ | $ 21 |
Series P Redeemable Convertible Preferred Stock [Member] | |
Summary of Significant Accounting Policies (Details) [Line Items] | |
Public offering shares | 11,000 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - Schedule of condensed consolidated statements of cash flows $ in Thousands | Mar. 31, 2022USD ($) |
Schedule of condensed consolidated statements of cash flows [Abstract] | |
Cash | $ 49,686 |
Restricted cash | 20,953 |
Total cash and restricted cash | $ 70,639 |
Investments in Marketable Sec_3
Investments in Marketable Securities (Details) - Schedule of component of gains and (losses) on marketable securities - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of component of gains and (losses) on marketable securities [Abstract] | ||
Realized (loss) gain | $ (224) | $ 424 |
Unrealized loss | (333) | (2,049) |
Dividend income | 60 | 286 |
Total | $ (497) | $ (1,339) |
Short-term Investments (Details
Short-term Investments (Details) - USD ($) | Mar. 14, 2022 | Mar. 11, 2022 | Oct. 25, 2021 | Mar. 31, 2022 | Dec. 31, 2021 |
Short-term Investments (Details) [Line Items] | |||||
Fair value of warrant | $ 2,147,000 | ||||
Vicinity Motor Corp [Member] | |||||
Short-term Investments (Details) [Line Items] | |||||
Purchase of common stock (in Shares) | 246,399 | ||||
Common stock price per share (in Dollars per share) | $ 5.1 | ||||
Warrant expiration date | Oct. 25, 2024 | ||||
Fair value of warrant | 300,000 | $ 400,000 | |||
Initial investment | 600,000 | ||||
Change in fair value of investment | $ 188,000 | ||||
Investment In Hoth Therapeutics, Inc. [Member] | |||||
Short-term Investments (Details) [Line Items] | |||||
Shares issued (in Shares) | 1,130,701 | ||||
Net proceeds | $ 900,000 | ||||
Investment In DatChat, Inc. [Member] | |||||
Short-term Investments (Details) [Line Items] | |||||
Shares issued (in Shares) | 357,916 | ||||
Net proceeds | $ 800,000 | ||||
Price per share (in Dollars per share) | $ 2.21 |
Short-term Investments (Detai_2
Short-term Investments (Details) - Schedule of short-term investment - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Short-term Investments (Details) - Schedule of short-term investment [Line Items] | ||
Short-term investment | $ 255 | $ 2,273 |
Hoth Therapeutics Inc. [Member] | ||
Short-term Investments (Details) - Schedule of short-term investment [Line Items] | ||
Short-term investment | 24 | 770 |
DatChat, Inc. [Member] | ||
Short-term Investments (Details) - Schedule of short-term investment [Line Items] | ||
Short-term investment | 1,084 | |
Vicinity Motor Corp. [Member] | ||
Short-term Investments (Details) - Schedule of short-term investment [Line Items] | ||
Short-term investment | $ 231 | $ 419 |
Short-term Investments (Detai_3
Short-term Investments (Details) - Schedule of change in the fair value of the short-term investments $ in Thousands | 3 Months Ended |
Mar. 31, 2022USD ($) | |
Schedule of change in the fair value of the short-term investments [Abstract] | |
Beginning balance | $ 2,273 |
Transfer to marketable securities | (1,482) |
Change in fair value of investment | (886) |
Realized gain recognized through sale of marketable securities | 350 |
Ending balance | $ 255 |
Short-term Investments (Detai_4
Short-term Investments (Details) - Schedule of company investment in Hoth - HOTH [Member] - USD ($) $ / shares in Units, $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Schedule of Investments [Line Items] | ||
Shares owned | 35,714 | 1,166,415 |
Fair value per share | $ 0.69 | $ 0.66 |
Fair value | $ 24 | $ 770 |
Short-term Investments (Detai_5
Short-term Investments (Details) - Schedule of quantitative information fair value measurements inputs - Vicinity Motor Corp [Member] - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2021 | |
Short-term Investments (Details) - Schedule of quantitative information fair value measurements inputs [Line Items] | ||
Option term (in years) | 2 years 7 months 6 days | 2 years 9 months 18 days |
Volatility | 93.90% | 95.52% |
Risk-free interest rate | 2.45% | 0.97% |
Expected dividends (in Dollars) | $ 0 | $ 0 |
Stock price (in Dollars per share) | $ 2.4 | $ 3.5 |
Long-Term Investments (Details)
Long-Term Investments (Details) - USD ($) | Mar. 30, 2022 | Mar. 25, 2022 | Mar. 23, 2022 | Mar. 22, 2022 | Mar. 11, 2022 | Mar. 02, 2022 | Jan. 27, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Investment in Kerna Health Inc [Member] | |||||||||
Long-Term Investments (Details) [Line Items] | |||||||||
Investment | $ 3,800,000 | ||||||||
Investment in Kaya Holding Corp [Member] | |||||||||
Long-Term Investments (Details) [Line Items] | |||||||||
Purchase shares (in Shares) | 3,375,000 | ||||||||
Investment | $ 600,000 | 2,300,000 | |||||||
Unrealized gain | 34,000 | ||||||||
Investment in Tevva Motors [Member] | |||||||||
Long-Term Investments (Details) [Line Items] | |||||||||
Investment | $ 3,400,000 | ||||||||
Share price value (in Dollars per share) | $ 58 | ||||||||
Unrealized gain | $ 1,400,000 | ||||||||
Investment in ASP Isotopes [Member] | |||||||||
Long-Term Investments (Details) [Line Items] | |||||||||
Investment | 1,000,000 | ||||||||
Investment in AerocarveUS Corporation [Member] | |||||||||
Long-Term Investments (Details) [Line Items] | |||||||||
Investment | 1,000,000 | ||||||||
Investment in Qxpress [Member] | |||||||||
Long-Term Investments (Details) [Line Items] | |||||||||
Purchase shares (in Shares) | 46,780 | ||||||||
Investment | $ 1,000,000 | 1 | |||||||
Investment in Masterclass [Member] | |||||||||
Long-Term Investments (Details) [Line Items] | |||||||||
Purchase shares (in Shares) | 4,841 | ||||||||
Investment | $ 200,000 | 200,000 | |||||||
Investment in Kraken [Member] | |||||||||
Long-Term Investments (Details) [Line Items] | |||||||||
Purchase shares (in Shares) | 8,409 | ||||||||
Investment | $ 500,000 | 500,000 | |||||||
Investment in Epic Games [Member] | |||||||||
Long-Term Investments (Details) [Line Items] | |||||||||
Purchase shares (in Shares) | 901 | ||||||||
Investment | $ 1,500,000 | 1,500,000 | |||||||
Investment in Tesspay [Member] | |||||||||
Long-Term Investments (Details) [Line Items] | |||||||||
Purchase shares (in Shares) | 1,000,000 | ||||||||
Investment | $ 200,000 | $ 1,300,000 | |||||||
Unrealized gain | 10,000 | ||||||||
Invested additional amount | $ 1,000,000 | ||||||||
Per share price (in Dollars per share) | $ 0.25 | ||||||||
Investment in SpaceX [Member] | |||||||||
Long-Term Investments (Details) [Line Items] | |||||||||
Purchase shares (in Shares) | 100,000 | ||||||||
Investment | $ 1,500,000 | $ 1,500,000 | |||||||
Investment in Databricks [Member] | |||||||||
Long-Term Investments (Details) [Line Items] | |||||||||
Purchase shares (in Shares) | 3,830 | ||||||||
Investment | $ 1,200,000 | $ 1,200,000 |
Long-Term Investments (Detail_2
Long-Term Investments (Details) - Schedule of other investments - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Long-Term Investments (Details) - Schedule of other investments [Line Items] | ||
Total | $ 18,610 | $ 9,465 |
Investment in Kerna Health Inc [Member] | ||
Long-Term Investments (Details) - Schedule of other investments [Line Items] | ||
Total | 3,800 | 3,800 |
Investment in Kaya Holding Corp [Member] | ||
Long-Term Investments (Details) - Schedule of other investments [Line Items] | ||
Total | 2,340 | 1,665 |
Investment in Tevva Motors [Member] | ||
Long-Term Investments (Details) - Schedule of other investments [Line Items] | ||
Total | 3,364 | 2,000 |
Investment in ASP Isotopes [Member] | ||
Long-Term Investments (Details) - Schedule of other investments [Line Items] | ||
Total | 1,000 | 1,000 |
Investment in AerocarveUS Corporation [Member] | ||
Long-Term Investments (Details) - Schedule of other investments [Line Items] | ||
Total | 1,000 | 1,000 |
Investment in Qxpress [Member] | ||
Long-Term Investments (Details) - Schedule of other investments [Line Items] | ||
Total | 1,000 | |
Investment in Masterclass [Member] | ||
Long-Term Investments (Details) - Schedule of other investments [Line Items] | ||
Total | 170 | |
Investment in Kraken [Member] | ||
Long-Term Investments (Details) - Schedule of other investments [Line Items] | ||
Total | 486 | |
Investment in Epic Games [Member] | ||
Long-Term Investments (Details) - Schedule of other investments [Line Items] | ||
Total | 1,500 | |
Investment in Tesspay [Member] | ||
Long-Term Investments (Details) - Schedule of other investments [Line Items] | ||
Total | 1,250 | |
Investment in SpaceX [Member] | ||
Long-Term Investments (Details) - Schedule of other investments [Line Items] | ||
Total | 1,500 | |
Investment in Databricks [Member] | ||
Long-Term Investments (Details) - Schedule of other investments [Line Items] | ||
Total | $ 1,200 |
Long-Term Investments (Detail_3
Long-Term Investments (Details) - Schedule of long-term investments $ in Thousands | 3 Months Ended |
Mar. 31, 2022USD ($) | |
Schedule of long-term investments [Abstract] | |
Beginning balance | $ 9,465 |
Purchase of investments | 7,737 |
Adjustment to carrying value of investments | 1,408 |
Ending balance | $ 18,610 |
Notes Receivable (Details)
Notes Receivable (Details) | Mar. 31, 2022USD ($) |
Notes Receivable (Details) [Line Items] | |
Interest income receivable | $ 200,000 |
Raefan Group LLC [Member] | |
Notes Receivable (Details) [Line Items] | |
Interest income receivable | 100,000 |
Raefan Industries LLC [Member] | |
Notes Receivable (Details) [Line Items] | |
Interest income receivable | 49,000 |
Slinger Bag Inc [Member] | |
Notes Receivable (Details) [Line Items] | |
Interest income receivable | 73,000 |
Nano Innovations Inc [Member] | |
Notes Receivable (Details) [Line Items] | |
Interest income receivable | $ 20,000 |
Notes Receivable (Details) - Sc
Notes Receivable (Details) - Schedule of notes receivable $ in Thousands | 3 Months Ended |
Mar. 31, 2022USD ($) | |
Convergent Investment [Member] | |
Short-term convertible notes receivable | |
Maturity Date | Jan. 29, 2023 |
Stated Interest Rate | 8.00% |
Principal Amount | $ 2,000 |
Interest Receivable | 187 |
Fair Value | $ 2,187 |
Slinger Bag Inc Investment [Member] | |
Short-term convertible notes receivable | |
Maturity Date | Aug. 6, 2022 |
Stated Interest Rate | 8.00% |
Principal Amount | $ 1,400 |
Interest Receivable | 73 |
Fair Value | $ 1,473 |
Nano Innovations Inc Investment [Member] | |
Short-term convertible notes receivable | |
Maturity Date | Dec. 26, 2022 |
Stated Interest Rate | 10.00% |
Principal Amount | $ 750 |
Interest Receivable | 20 |
Fair Value | $ 769 |
Raefan Group LLC Investment [Member] | |
Short-term convertible notes receivable | |
Maturity Date | Oct. 13, 2022 |
Stated Interest Rate | 8.00% |
Principal Amount | $ 2,780 |
Interest Receivable | 103 |
Fair Value | $ 2,882 |
Raefan Industries LLC Investment [Member] | |
Short-term convertible notes receivable | |
Maturity Date | Dec. 6, 2022 |
Stated Interest Rate | 8.00% |
Principal Amount | $ 1,950 |
Interest Receivable | 49 |
Fair Value | 1,999 |
Total | $ 9,310 |
Fair Value of Financial Asset_3
Fair Value of Financial Assets and Liabilities (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2022USD ($) | |
Fair Value of Financial Assets and Liabilities (Details) [Line Items] | |
Fair value amount | $ 2.2 |
Raefan Group LLC [Member] | |
Fair Value of Financial Assets and Liabilities (Details) [Line Items] | |
Promissory note | 2.9 |
Raefan Industries LLC [Member] | |
Fair Value of Financial Assets and Liabilities (Details) [Line Items] | |
Promissory note | 2 |
Slinger Bag Inc Investment [Member] | |
Fair Value of Financial Assets and Liabilities (Details) [Line Items] | |
Fair value amount | 1.5 |
Nano Innovations Inc [Member] | |
Fair Value of Financial Assets and Liabilities (Details) [Line Items] | |
Fair value amount | $ 0.8 |
Fair Value of Financial Asset_4
Fair Value of Financial Assets and Liabilities (Details) - Schedule of fair value assets and liabilities - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Marketable securities: | ||
Equities | $ 13,500 | $ 11,427 |
Fixed Income | 935 | |
Total marketable securities | 14,435 | 11,427 |
Short-term investment | 255 | 2,273 |
Notes receivable at fair value | 9,310 | 6,984 |
Convertible note receivable | 2,147 | |
Quoted prices in active markets (Level 1) [Member] | ||
Marketable securities: | ||
Equities | 13,500 | 11,427 |
Fixed Income | 935 | |
Total marketable securities | 14,435 | 11,427 |
Short-term investment | 24 | 1,854 |
Notes receivable at fair value | ||
Convertible note receivable | ||
Significant other observable inputs (Level 2) [Member] | ||
Marketable securities: | ||
Equities | ||
Total marketable securities | ||
Short-term investment | ||
Notes receivable at fair value | ||
Convertible note receivable | ||
Significant unobservable inputs (Level 3) [Member] | ||
Marketable securities: | ||
Equities | ||
Total marketable securities | ||
Short-term investment | 231 | 419 |
Notes receivable at fair value | $ 9,310 | 6,984 |
Convertible note receivable | $ 2,147 |
Fair Value of Financial Asset_5
Fair Value of Financial Assets and Liabilities (Details) - Schedule of fair value of the company's level 3 financial assets $ in Thousands | 3 Months Ended |
Mar. 31, 2022USD ($) | |
Schedule of fair value of the company's level 3 financial assets [Abstract] | |
Notes receivable at fair value at beginning balance | $ 6,984 |
Accrued interest receivable | 179 |
Reclassify from convertible note receivable to notes receivable at fair value | 2,147 |
Notes receivable at fair value at ending balance | 9,310 |
Short-term investment at beginning balance | 419 |
Change in fair value of investment | (188) |
Short-term investment at ending balance | $ 231 |
Net Loss per Share Attributab_3
Net Loss per Share Attributable to Common Stockholders (Details) - Schedule of potentially diluted loss per share - shares | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 30,041,932 | 6,286,693 |
Convertible preferred stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 22,000,577 | 688 |
Warrants to purchase common stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 7,561,701 | 5,801,701 |
Options to purchase common stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 479,654 | 484,304 |
Redeemable Convertible Prefer_2
Redeemable Convertible Preferred Stock (Details) - USD ($) | Feb. 24, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Redeemable Convertible Preferred Stock (Details) [Line Items] | |||
Offering price, per share (in Dollars per share) | $ 952.38 | ||
Original issue, percentage | 5.00% | ||
Stated value (in Dollars) | $ 1,000 | ||
Gross proceeds (in Dollars) | $ 21,900,000 | ||
Restricted cash (in Dollars) | $ 21,000,000 | ||
Aggregate cash fee, percentage | 8.00% | ||
Common stock purchase warrants | 1,760,000 | ||
Exercise price (in Dollars per share) | $ 1.25 | ||
Redemption rights percentage | 105.00% | ||
Deemed dividends (in Dollars) | $ 3 | ||
Series O Redeemable Convertible Preferred Stock | |||
Redeemable Convertible Preferred Stock (Details) [Line Items] | |||
Convertible preferred stock, shares issued | 11,000 | 11,000 | 0 |
Convertible preferred stock, shares outstanding | 11,000 | 11,000 | 0 |
Convertible preferred stock, par value (in Dollars per share) | $ 0.001 | ||
Series P Redeemable Convertible Preferred Stock | |||
Redeemable Convertible Preferred Stock (Details) [Line Items] | |||
Convertible preferred stock, shares issued | 11,000 | 11,000 | 0 |
Convertible preferred stock, shares outstanding | 11,000 | 11,000 | 0 |
Convertible preferred stock, par value (in Dollars per share) | $ 0.001 | ||
Series O Preferred Stock [Member] | |||
Redeemable Convertible Preferred Stock (Details) [Line Items] | |||
Stated value (in Dollars) | $ 1,000 | ||
Conversion price, per share (in Dollars per share) | $ 1 | ||
Shares issued | 11,000,000 | ||
Series P Preferred Stock [Member] | |||
Redeemable Convertible Preferred Stock (Details) [Line Items] | |||
Stated value (in Dollars) | $ 1,000 | ||
Conversion price, per share (in Dollars per share) | $ 1 | ||
Shares issued | 11,000,000 |
Stockholders_ Equity (Details)
Stockholders’ Equity (Details) - USD ($) | Jun. 05, 2020 | Mar. 31, 2022 | Mar. 31, 2021 | Jan. 01, 2022 |
Stockholders’ Equity (Details) [Line Items] | ||||
Shares cancelled | 387,812 | |||
Stock-based compensation expense (in Dollars) | $ 0 | $ 0.1 | ||
Estimated future stock-based compensation expense (in Dollars) | $ 0 | |||
Securities Purchase Agreement [Member] | ||||
Stockholders’ Equity (Details) [Line Items] | ||||
Warrants to purchase common stock | 1,939,058 | |||
Number of common stock issued | 1 | |||
Received shares common stock | 387,812 |
Stockholders_ Equity (Details)
Stockholders’ Equity (Details) - Schedule of warrant activity - Warrant [Member] | 3 Months Ended |
Mar. 31, 2022USD ($)$ / sharesshares | |
Class of Warrant or Right [Line Items] | |
Outstanding beginning balance, Warrants | shares | 5,801,701 |
Outstanding beginning balance, Weighted Average Exercise Price | $ / shares | $ 1.86 |
Outstanding beginning balance, Total Intrinsic Value | $ | |
Outstanding beginning balance, Weighted Average Remaining Contractual Life | 3 years 10 months 13 days |
Outstanding ending balance, Warrants | shares | 7,561,701 |
Outstanding ending balance, Weighted Average Exercise Price | $ / shares | $ 1.72 |
Outstanding ending balance, Total Intrinsic Value | $ | |
Outstanding ending balance, Weighted Average Remaining Contractual Life | 3 years 11 months 12 days |
Issued, Warrants | shares | 1,760,000 |
Issued, Weighted Average Exercise Price | $ / shares | $ 1.25 |
Issued, Total Intrinsic Value | $ | |
Issued, Weighted Average Remaining Contractual Life | 4 years 10 months 24 days |
Stockholders_ Equity (Details_2
Stockholders’ Equity (Details) - Schedule of option activity | 3 Months Ended |
Mar. 31, 2022USD ($)$ / sharesshares | |
Schedule of option activity [Abstract] | |
Outstanding beginning balance, Number of Shares | shares | 479,654 |
Outstanding beginning balance, Weighted Average Exercise Price | $ / shares | $ 32.35 |
Outstanding beginning balance, Total Intrinsic Value | $ | |
Outstanding beginning balance, Weighted Average Remaining Contractual Life (in years) | 8 years 2 months 12 days |
Outstanding ending balance, Number of Shares | shares | 479,654 |
Outstanding ending balance, Weighted Average Exercise Price | $ / shares | $ 32.35 |
Outstanding ending balance, Intrinsic Value | $ | |
Outstanding ending balance, Weighted Average Remaining Contractual Life | 8 years |
Options vested and exercisable, Number of Shares | shares | 479,654 |
Options vested and exercisable, Weighted Average Exercise Price | $ / shares | $ 32.35 |
Options vested and exercisable, Intrinsic Value | $ | |
Options vested and exercisable, Weighted Average Remaining Contractual Life | 8 years |