Annual report pursuant to Section 13 and 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

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SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Schedule of Changes in Derivative Liability
The following is the recorded fair value of the Class B Units as of December 31, 2023:
(in thousands) Carrying Value Total Fair Value Quoted prices in
 active markets
 for identical
 assets - Level 1
Significant other
 observable
 inputs - Level 2
Significant
 unobservable
 inputs - Level 3
Liabilities
Class B Units $ 3,590  $ 3,590  $ —  $ —  $ 3,590 
The following is the recorded fair value of the Class B Units as of December 31, 2022:
 (in thousands) Carrying Value Total Fair Value Quoted prices in active
 markets
 for identical
 assets - Level 1
Significant other
observable
 inputs - Level 2
Significant
 unobservable
 inputs - Level 3
Liabilities
Class B Units $ 12,007  $ 12,007  $ —  $ —  $ 12,007 
The following presents changes in the Class B Units for the years ended December 31, 2023 and December 31, 2022:
(in thousands) Year ended December 31,
2023
Year ended December 31,
2022
Beginning Balance $ 12,007  $ 21,629 
New unit issuances —  3,043 
Change in fair value recognized in earnings (8,417) (12,665)
Ending Balance $ 3,590  $ 12,007 
Schedule of Changes in the Lender Warrant Commitment Liability
The following presents changes in the Warrant Commitment Liability for the year ended December 31, 2022:
 (in thousands) Year ended December 31,
2022
Beginning Balance $ 19,215 
Change in fair value recognized in earnings (4,515)
Settled with issuance of warrants (14,700)
Ending Balance $ — 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following tables present instruments that were potentially dilutive for the years ended December 31, 2023 and December 31, 2022 that were excluded from diluted earnings per share as they would have been anti-dilutive:
  Year ended December 31,
2023
Year ended December 31,
2022
Convertible notes and accrued interest —  7,604,302
Stock options and warrants 52,347,702 46,353,950