The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2022 and 2021, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value (in thousands):


		December 31		December 31
Description	Level	2022		2021

Assets:
Money Market Account	1	$	15,249	$	—

Liabilities:
Warrant liabilities (Note 10)	3	$	37	$	292
Earnout Cash liability (Note 4)	3	$	—	$	4,582
Convertible note payable (Note 7)	3	$	10,525	$	—

Schedule of significant unobservable inputs

The significant inputs used in the Black-Scholes model to measure the warrant liabilities that are categorized within Level 3 of the fair value hierarchy are as follows:


	December 31, 2022		December 31, 2021
Stock price on valuation date	$	1.11	$	4.78
Exercise price per share	$	11.50	$	11.50
Expected life		3.40		4.40
Volatility		100.0%		82.8%
Risk-free rate		4.17%		1.17%
Dividend yield		0.00%		0.00%
Fair value of warrants	$	0.26	$	2.14

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of reconciliation of liabilities

A reconciliation of the Earnout Cash liability is included below (in thousands):


	December 31, 2022
Balance as of December 31, 2020	$	—
Additions pursuant to Merger		25,520
Gain upon re-measurement		(20,938)
Balance as of December 31, 2021	$	4,582
Gain upon re-measurement		(4,582)
Balance as of December 31, 2022	$	—

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]