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Fair Value of Financial Instruments
9 Months Ended
Sep. 30, 2022
Fair Value of Financial Instruments  
Fair Value Of Financial Instruments

(8) Fair Value of Financial Instruments

 

The carrying amount of the Company’s financial instruments, other than debt, approximates fair value at September 30, 2022 and December 31, 2021 because of the short maturity of those instruments. It was not practicable to estimate the fair value of the Company’s notes payable and its convertible debentures because these debts are in default causing no basis for estimating value by reference to quoted market prices or current rates offered to the Company for debt of the same remaining maturities.