SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS

Marizyme measures the following financial instruments at fair value on a recurring basis. As at June 30, 2022, and December 31, 2021, the fair values of these financial instruments were as follows:

	Fair Value Hierarchy
June 30, 2022	Level 1		Level 2		Level 3
Liabilities
Derivative liabilities	$	-	$	-	$	4,423,725
Contingent liabilities		-		-		14,935,000
Total	$	-	$	-	$	19,358,725

	Fair Value Hierarchy
December 31, 2021	Level 1		Level 2		Level 3
Liabilities
Derivative liabilities	$	-	$	-	$	2,485,346
Contingent liabilities		-		-		11,313,000
Total	$	-	$	-	$	13,798,346

RECONCILIATION OF LIABILITIES AT FAIR VALUE

The following table provides a roll forward of all liabilities measured at fair value using Level 3 significant unobservable inputs:

Derivative and Contingent Liabilities
Balance at December 31, 2021	$	13,798,346
Change in fair value of contingent liabilities		3,622,000
Derivative liabilities issued pursuant to Unit Purchase Agreement		1,938,379
Balance at June 30, 2022	$	19,358,725