Quarterly report pursuant to Section 13 or 15(d)

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

v3.21.2
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]  
Schedule of assets and liabilities measured at fair value on a recurring basis

September 30, 2021

    

Fair Value

    

Level 1

    

Level 2

    

Level 3

Assets

 

  

 

  

 

  

 

  

Money Market Funds

$

416,314

$

416,314

$

$

Liability

 

  

 

  

 

  

 

  

Contingent earnout shares liability

$

32,337

$

$

$

32,337

December 31, 2020

    

Fair Value

    

Level 1

    

Level 2

    

Level 3

Assets

 

  

 

  

 

  

 

  

Money Market Funds

$

702,422

$

702,422

$

$

Liability

 

 

  

 

  

 

  

Contingent earnout shares liability

$

133,503

$

$

$

133,503

Private placement warrants liability

$

6,613

$

$

6,613

$

Summary of the change in fair value of contingent earnout shares liability

Beginning fair value at December 31, 2020

$

133,503

Change in fair value during the period

(101,166)

Ending fair value at September 30, 2021

$

32,337

Summary of the change in fair value of warrant liability

Beginning fair value at December 31, 2020

$

6,613

Change in fair value during the period

1,639

Conversion of private placement warrants to public warrants

(8,252)

Ending fair value at September 30, 2021

$

Retroactive Application of Recapitalization [Member]  
Error Corrections and Prior Period Adjustments Restatement [Line Items]  
Schedule of retroactive recapitalization

12/21/20

    

    

    

    

Weighted

Merger

Recapitalized

Days

Average

As

Conversion

Common

Outstanding

% of

Common

Date

Description

Calculated

Ratio

Stock

in 2020

weighting

Shares

3 months ended 9/30/2020

Weighted-average shares, basic and diluted

8,997,164

1.24

11,151,398

100

%  

11,151,398

12/31/2018

 

Angel Shares

 

51,316,627

 

92

 

100

%  

51,316,627

3/4/2019

 

Seed Shares

 

11,107,496

 

92

 

100

%  

11,107,496

5/6/2019

 

Seed Shares

 

11,107,495

 

92

 

100

%  

11,107,495

8/16/2020

Convertible Debt

63,219,362

46

50

%  

31,609,681

 

116,292,697

12/21/20

    

    

    

    

Weighted

As

Merger

Recapitalized

Days

Average

Previously

Conversion

Common

Outstanding

% of

Common

Date

Description

Reported

Ratio

Stock

in 2020

weighting

Shares

9 months ended 9/30/2020

Weighted-average shares, basic and diluted

7,997,527

1.24

9,912,414

100

%  

9,912,414

12/31/2018

 

Angel Shares

 

51,316,627

 

274

 

100

%  

51,316,627

3/4/2019

 

Seed Shares

 

11,107,496

 

274

 

100

%  

11,107,496

5/6/2019

 

Seed Shares

 

11,107,495

 

274

 

100

%  

11,107,495

8/16/2020

Convertible Debt

63,219,362

46

17

%  

10,613,470

 

94,057,501