Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.21.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities measured at fair value on a recurring basis
    December 31, 2020  
    (Level 1)     (Level 2)     (Level 3)  
Liabilities                        
Preferred stock warrant liability   $
    $
    $
 

 

    December 31, 2019  
    (Level 1)     (Level 2)     (Level 3)  
Liabilities                  
Preferred stock warrant liability   $
    $
    $ 4,391,372  

 

Schedule of significant weighted-average assumptions
    October 5,     December 31,  
    2020     2019  
Risk-free interest rate     0.7 %     1.9 %
Remaining contractual life of warrant (years)     8.9       9.7  
Expected volatility     57.8 %     50.9 %
Annual dividend yield     0 %     0 %
Fair value of Series B convertible preferred stock   $ 1.26     $ 1.14  

 

Schedule of Series B preferred stock warrant liability measured at fair value recurring basis using significant unobservable inputs
Balance, January 1, 2019   $ 328,559  
Issuance of warrants in connection with Series B financing     3,991,178  
Change in fair value recorded as other expense     71,635  
Balance, December 31, 2019     4,391,372  
Issuance of warrants in connection with Series B financing     95,478  
Change in fair value recorded as other expense     743,837  
Reclassification to equity     (5,230,687 )
Balance, December 31, 2020   $