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-302407000 441875000 -35175000 -11779000 452000 213000 -11511000 0 -2647000 0 54000 0 -714000 457000 -883000 2383000 8062000 0 1481000 1244000 707000 1512000 114000 0 8167000 0 -23229000 -10736000 2500000 500000 802000 0 25000000 0 21698000 -500000 730000 999000 0 4000 0 15000 730000 980000 -801000 -10256000 35785000 36910000 34984000 26654000 0 377000 1580000 86000 0 150000 <div style="text-align: justify; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">1. ORGANIZATION AND DESCRIPTION OF BUSINESS</div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"><br/> </div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Quantum-Si Incorporated (including its subsidiaries, the “Company” or “Quantum-Si”) was originally incorporated in Delaware on June 10, 2020 as a special purpose acquisition company under the name HighCape Capital Acquisition Corp. (“HighCape”) for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination involving HighCape and one or more businesses. On June 10, 2021 (the “Closing”), the Company consummated the transaction contemplated by the Business Combination Agreement, dated February 18, 2021 (the “Business Combination Agreement”), by and among HighCape, Tenet Merger Sub, Inc., a Delaware corporation (“Merger Sub”) and Quantum-Si Incorporated, a Delaware corporation (“Legacy Quantum-Si”).</div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Pursuant to the terms of the Business Combination Agreement, a business combination between HighCape was effected through the merger of Merger Sub with and into Legacy Quantum-Si, with Legacy Quantum-Si surviving as the surviving company and a wholly owned subsidiary of HighCape (the “Merger” and collectively with the other transaction described in the Business Combination Agreement, the “Business Combination”). Effective as of the Closing, HighCape changed its name to Quantum-Si Incorporated and Legacy Quantum-Si changed its name to Q-SI Operations Inc. The prior period financial information represents the financial results and condition of Legacy Quantum-Si.</div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company is an innovative life sciences company with the mission of transforming single molecule analysis and democratizing its use by providing researchers and clinicians access to the proteome, the set of proteins expressed within a cell. The Company has developed a proprietary universal single molecule detection platform that the Company is first applying to proteomics to enable Next Generation Protein Sequencing (“NGPS”), the ability to sequence proteins in a massively parallel fashion (rather than sequentially, one at a time), and can be used for the study of nucleic acids. The Company’s platform is comprised of the Carbon™ automated sample preparation instrument, the Platinum™ NGPS instrument, the Quantum-Si Cloud™ software service, and reagent kits and chips for use with its instruments.</div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Although the Company has incurred recurring losses each year since its inception, the Company expects its cash and cash equivalents, and marketable securities will be able to fund its operations for at least the next twelve months.</div> <div style="text-align: justify; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Basis of Presentation and Principles of Consolidation</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">The accompanying condensed consolidated financial statements include the accounts of the Company and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting disclosure rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. All intercompany transactions are eliminated. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The condensed consolidated balance sheet as of December 31, 2021 included herein was derived from the audited consolidated financial statements as of that date, but does not include all disclosures, including certain notes required by U.S. GAAP, on an annual reporting basis.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods. The results for the three months ended March 31, 2022 are not necessarily indicative of the results to be expected for any subsequent quarter, the year ending December 31, 2022, or any other period.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">There have been no material changes to the Company’s significant accounting policies as described in the Company’s audited consolidated financial statements as of and for the years ended December 31, 2021 and 2020.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">COVID-19 Outbreak</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The outbreak of the novel coronavirus (“COVID-19”), which was declared a pandemic by the World Health Organization on March 11, 2020 and declared a National Emergency by the President of the United States on March 13, 2020, has led to adverse impacts on the United States and global economies and created uncertainty regarding potential impacts on the Company’s operating results, financial condition and cash flows. The COVID-19 pandemic had, and is expected to continue to have, an adverse impact on the Company’s operations, particularly as a result of preventive and precautionary measures that the Company, other businesses, and governments are taking. Governmental mandates related to COVID-19 or other infectious diseases, or public health crises, have impacted, and the Company expects them to continue to impact, its personnel and personnel at third-party manufacturing facilities in the United States and other countries, and the availability or cost of materials, which would disrupt or delay the Company’s receipt of instruments, components and supplies from the third parties the Company relies on to, among other things, produce its products currently under development. The COVID-19 pandemic has also had an adverse effect on the Company’s ability to attract, recruit, interview and hire at the pace the Company would typically expect to support its rapidly expanding operations. To the extent that any governmental authority imposes additional regulatory requirements or changes existing laws, regulations, and policies that apply to the Company’s business and operations, such as additional workplace safety measures, the Company’s product development plans may be delayed, and the Company may incur further costs in bringing its business and operations into compliance with changing or new laws, regulations, and policies. The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s business, results of operations and financial condition, including expenses and research and development costs, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain or treat COVID-19, as well as the economic impacts.</div> <div><br/></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The estimates of the impact on the Company’s business may change based on new information that may emerge concerning COVID-19 and the actions to contain it or address its impact and the economic impact on local, regional, national and international markets as well as other changes in macroeconomic factors. The COVID-19 pandemic and related economic disruptions have not had a material adverse impact on the Company’s operations to date. While the Company is unable to predict the full impact that the COVID-19 pandemic will have on the Company’s future results of operations, liquidity and financial condition due to numerous uncertainties, including the duration of the pandemic, the actions that may be taken by government authorities across the United States, adverse changes in macroeconomic conditions, if sustained or recurrent, could result in significant changes in costs going forward with material adverse effect on the Company’s operating results, financial condition, and cash flows.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company has not incurred any significant impairment losses in the carrying values of the Company’s assets as a result of the COVID-19 pandemic and is not aware of any specific related event or circumstance that would require the Company to revise its estimates reflected in its condensed consolidated financial statements.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Concentration of Credit Risk</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents and marketable securities. As of March 31, 2022 and December 31, 2021, substantially all of the Company’s cash and cash equivalents and marketable securities were invested in fixed income mutual funds at one financial institution. The Company also maintains balances in various operating accounts above federally insured limits. The Company has not experienced any significant losses on such accounts and does not believe it is exposed to any significant credit risk on cash and cash equivalents and marketable securities.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Reclassifications</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Certain prior year amounts have been reclassified for consistency with the current year’s presentation.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span><br/> </div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Use of Estimates</div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;"> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions about future events that affect the amounts reported in its condensed consolidated financial statements and accompanying notes. Future events and their effects cannot be determined with certainty. On an ongoing basis, management evaluates these estimates and assumptions. Significant estimates and assumptions included:</div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <tr> <td style="width: 18pt;"><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </td> <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">●</td> <td style="width: auto; vertical-align: top;"> <div style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">valuation allowances with respect to deferred tax assets;</div> </td> </tr> </table> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <tr> <td style="width: 18pt;"><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </td> <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">●</td> <td style="width: auto; vertical-align: top;"> <div style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">valuation for acquisitions;</div> </td> </tr> </table> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <tr> <td style="width: 18pt;"><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </td> <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">●</td> <td style="width: auto; vertical-align: top;"> <div style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">assumptions used for leases;</div> </td> </tr> </table> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <tr> <td style="width: 18pt;"><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </td> <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">●</td> <td style="width: auto; vertical-align: top;"> <div style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">valuation of warrant liabilities; and</div> </td> </tr> </table> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <tr> <td style="width: 18pt;"><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </td> <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">●</td> <td style="width: auto; vertical-align: top;"> <div style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">assumptions underlying the fair value used in the calculation of the stock-based compensation.</div> </td> </tr> </table> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company bases these estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates, and any such differences may be material to the Company’s condensed consolidated financial statements.</div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> <br/> </div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold; font-variant: normal; text-transform: none;">Investments in Marketable Securities</div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;">The Company’s investments in marketable securities consist of ownership interests in fixed income mutual funds. The securities are stated at fair value, as determined by quoted market prices. As the securities have readily determinable fair value, unrealized gains and losses are reported as Other expense, net on the condensed consolidated statements of operations and comprehensive loss. Subsequent gains or losses realized upon redemption or sale of these securities are also recorded as Other expense, net on the condensed consolidated statements of operations and comprehensive loss. The Company considers all of its investments in marketable securities as available for use in current operations and therefore classifies these securities within current assets on the condensed consolidated balance sheets. For the three months ended March 31, 2022, the Company recognized $11,511 of unrealized losses related to securities still held as of March 31, 2022 and $50 of realized losses related to securities that matured or were sold during the three months ended  March 31, 2022.</div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;"> <br/> </div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Leases</div> <div><span style="font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; font-style: italic; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span> <span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Effective December 31, 2021, the Company lost its emerging growth company status which accelerated the adoption of Accounting Standards Update (“ASU”) 2016-02, </span><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Leases</span><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> (Topic 842). The Company’s adoption of ASU 2016-02 was effective retrospectively to January 1, 2021, the beginning of the year.  In accordance with ASU 2016-02, for arrangements in existence as of January 1, 2021 and any new arrangements entered into thereafter</span>, the Company determines if an arrangement is a lease at inception and records right-of-use (“ROU”) assets and lease liabilities on the condensed consolidated balance sheets at lease commencement. </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> <span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s leases generally do not have a readily determinable implicit discount rate.  As such, the Company uses an incremental borrowing rate based on the information available at the lease commencement date to determine the present value of the lease payments. The Company’s incremental borrowing rate is the estimated rate that would be required to pay for a collateralized borrowing equal to the total lease payment over the lease term. The Company measures ROU assets based on the corresponding lease liability adjusted for (i) payments made to the lessor at or before the commencement date, (ii) initial direct costs incurred and (iii) tenant incentives under the lease. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term for operating leases. Finance leases will result in a front-loaded expense pattern. With respect to finance leases, amortization of the ROU asset is presented separately from interest expense related to the finance lease liability. In addition, the Company does not have significant residual value guarantees or restrictive covenants in the lease portfolio.</div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company expenses monthly rental payments as incurred in Selling, general and administrative and in Research and development in the condensed consolidated statements of operations and comprehensive loss. The Company’s lease agreements contain variable lease costs for common area maintenance, utilities, taxes and insurance, which are expensed as incurred.</div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">As a result of its adoption of the new lease standard effective January 1, 2021, the Company has implemented new accounting policies and processes which changed the Company’s internal controls over financial reporting for lease accounting.</div> <div style="font-weight: normal; font-style: normal;"><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">Goodwill</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Goodwill, which represents the excess of purchase price over the fair value of net assets acquired, is carried at cost. Goodwill is not amortized; rather, it is subject to a periodic assessment for impairment by applying a fair value-based test. Beginning in 2022, the Company will review goodwill for possible impairment annually during the fourth quarter as of October 1, or whenever events or circumstances indicate that the carrying amount may not be recoverable.</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In order to test goodwill for impairment, an entity is permitted to first assess qualitative factors to determine whether a quantitative assessment of goodwill is necessary. The qualitative factors considered by the Company may include, but are not limited to, general economic conditions, the Company’s outlook, market performance of the Company’s industry and recent and forecasted financial performance. Further testing is only required if the entity determines, based on the qualitative assessment, that it is more likely than not that a reporting unit’s fair value is less than its carrying amount. Otherwise, no further impairment testing is required. If a quantitative assessment is required, the Company determines the fair value of its reporting unit using a combination of the income and market approaches. If the net book value of the reporting unit exceeds its fair value, the Company recognizes a goodwill impairment charge for the reporting unit equal to the lesser of (i) the total goodwill allocated to that reporting unit and (ii) the amount by which that reporting unit’s carrying amount exceeds its fair value.  Assumptions and estimates used in the evaluation of impairment may affect the carrying value of long-lived assets, which could result in impairment charges in future periods. Such assumptions include projections of future cash flows and the current fair value of the asset. No impairments were recorded for the three months ended March 31, 2022.</div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <br/> </div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold; font-variant: normal; text-transform: none;">Impairment of Long-Lived Assets</div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="font-weight: normal; font-style: normal;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;">The Company reviews its long-lived assets for impairment at least annually or when the Company determines a triggering event has occurred. When a triggering event has occurred, each impairment test is based on a comparison of the future expected undiscounted cash flow to the recorded value of the asset. If the recorded value of the asset is less than the undiscounted cash flow, the asset is written down to its estimated fair value. No impairments were recorded for the three months ended March 31, 2022 or 2021.<br/> </div> <div><br/></div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Warrant Liabilities</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company’s outstanding warrants include publicly-traded warrants (the “Public Warrants”) which were issued as <span style="-sec-ix-hidden:Fact_5dc2db3cb3fa4204bf8bcbc5174947a5">one-third</span> of one redeemable warrant per unit issued during HighCape’s initial public offering on September 9, 2020, and warrants sold in a private placement (the “Private Warrants”) to HighCape’s sponsor, HighCape Capital Acquisition LLC (the “Sponsor”). The Company evaluated its warrants under Accounting Standards Codification (“ASC”) 815-40, <span style="font-style: italic;">Derivatives and Hedging-Contracts in Entity’s Own Equity</span> (“ASC 815-40”), and concluded that they do not meet the criteria to be classified in stockholders’ equity. Since the Public Warrants and Private Warrants meet the definition of a derivative under ASC 815-40, the Company recorded these warrants as long-term liabilities on the condensed consolidated balance sheet at fair value upon the Closing of the Business Combination, with subsequent changes in their respective fair values recognized in the condensed consolidated statements of operations and comprehensive loss at each reporting date.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Recently Issued Accounting Pronouncements</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Accounting pronouncements issued but not yet adopted<br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div> <span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> No new accounting pronouncement issued or effective during the three months ended March 31, 2022 had, or is expected to have, a material impact on the Company’s condensed consolidated financial statements.</div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Basis of Presentation and Principles of Consolidation</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">The accompanying condensed consolidated financial statements include the accounts of the Company and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting disclosure rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. All intercompany transactions are eliminated. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The condensed consolidated balance sheet as of December 31, 2021 included herein was derived from the audited consolidated financial statements as of that date, but does not include all disclosures, including certain notes required by U.S. GAAP, on an annual reporting basis.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods. The results for the three months ended March 31, 2022 are not necessarily indicative of the results to be expected for any subsequent quarter, the year ending December 31, 2022, or any other period.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">There have been no material changes to the Company’s significant accounting policies as described in the Company’s audited consolidated financial statements as of and for the years ended December 31, 2021 and 2020.</div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Concentration of Credit Risk</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents and marketable securities. As of March 31, 2022 and December 31, 2021, substantially all of the Company’s cash and cash equivalents and marketable securities were invested in fixed income mutual funds at one financial institution. The Company also maintains balances in various operating accounts above federally insured limits. The Company has not experienced any significant losses on such accounts and does not believe it is exposed to any significant credit risk on cash and cash equivalents and marketable securities.</div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Reclassifications</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Certain prior year amounts have been reclassified for consistency with the current year’s presentation.</div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Use of Estimates</div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;"> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions about future events that affect the amounts reported in its condensed consolidated financial statements and accompanying notes. Future events and their effects cannot be determined with certainty. On an ongoing basis, management evaluates these estimates and assumptions. Significant estimates and assumptions included:</div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <tr> <td style="width: 18pt;"><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </td> <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">●</td> <td style="width: auto; vertical-align: top;"> <div style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">valuation allowances with respect to deferred tax assets;</div> </td> </tr> </table> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <tr> <td style="width: 18pt;"><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </td> <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">●</td> <td style="width: auto; vertical-align: top;"> <div style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">valuation for acquisitions;</div> </td> </tr> </table> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <tr> <td style="width: 18pt;"><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </td> <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">●</td> <td style="width: auto; vertical-align: top;"> <div style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">assumptions used for leases;</div> </td> </tr> </table> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <tr> <td style="width: 18pt;"><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </td> <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">●</td> <td style="width: auto; vertical-align: top;"> <div style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">valuation of warrant liabilities; and</div> </td> </tr> </table> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <tr> <td style="width: 18pt;"><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </td> <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">●</td> <td style="width: auto; vertical-align: top;"> <div style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">assumptions underlying the fair value used in the calculation of the stock-based compensation.</div> </td> </tr> </table> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company bases these estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates, and any such differences may be material to the Company’s condensed consolidated financial statements.</div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold; font-variant: normal; text-transform: none;">Investments in Marketable Securities</div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;">The Company’s investments in marketable securities consist of ownership interests in fixed income mutual funds. The securities are stated at fair value, as determined by quoted market prices. As the securities have readily determinable fair value, unrealized gains and losses are reported as Other expense, net on the condensed consolidated statements of operations and comprehensive loss. Subsequent gains or losses realized upon redemption or sale of these securities are also recorded as Other expense, net on the condensed consolidated statements of operations and comprehensive loss. The Company considers all of its investments in marketable securities as available for use in current operations and therefore classifies these securities within current assets on the condensed consolidated balance sheets. For the three months ended March 31, 2022, the Company recognized $11,511 of unrealized losses related to securities still held as of March 31, 2022 and $50 of realized losses related to securities that matured or were sold during the three months ended  March 31, 2022.</div> -11511000 -50000 <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Leases</div> <div><span style="font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; font-style: italic; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span> <span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Effective December 31, 2021, the Company lost its emerging growth company status which accelerated the adoption of Accounting Standards Update (“ASU”) 2016-02, </span><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Leases</span><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> (Topic 842). The Company’s adoption of ASU 2016-02 was effective retrospectively to January 1, 2021, the beginning of the year.  In accordance with ASU 2016-02, for arrangements in existence as of January 1, 2021 and any new arrangements entered into thereafter</span>, the Company determines if an arrangement is a lease at inception and records right-of-use (“ROU”) assets and lease liabilities on the condensed consolidated balance sheets at lease commencement. </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> <span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s leases generally do not have a readily determinable implicit discount rate.  As such, the Company uses an incremental borrowing rate based on the information available at the lease commencement date to determine the present value of the lease payments. The Company’s incremental borrowing rate is the estimated rate that would be required to pay for a collateralized borrowing equal to the total lease payment over the lease term. The Company measures ROU assets based on the corresponding lease liability adjusted for (i) payments made to the lessor at or before the commencement date, (ii) initial direct costs incurred and (iii) tenant incentives under the lease. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term for operating leases. Finance leases will result in a front-loaded expense pattern. With respect to finance leases, amortization of the ROU asset is presented separately from interest expense related to the finance lease liability. In addition, the Company does not have significant residual value guarantees or restrictive covenants in the lease portfolio.</div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company expenses monthly rental payments as incurred in Selling, general and administrative and in Research and development in the condensed consolidated statements of operations and comprehensive loss. The Company’s lease agreements contain variable lease costs for common area maintenance, utilities, taxes and insurance, which are expensed as incurred.</div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-weight: normal; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">As a result of its adoption of the new lease standard effective January 1, 2021, the Company has implemented new accounting policies and processes which changed the Company’s internal controls over financial reporting for lease accounting.</div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">Goodwill</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Goodwill, which represents the excess of purchase price over the fair value of net assets acquired, is carried at cost. Goodwill is not amortized; rather, it is subject to a periodic assessment for impairment by applying a fair value-based test. Beginning in 2022, the Company will review goodwill for possible impairment annually during the fourth quarter as of October 1, or whenever events or circumstances indicate that the carrying amount may not be recoverable.</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In order to test goodwill for impairment, an entity is permitted to first assess qualitative factors to determine whether a quantitative assessment of goodwill is necessary. The qualitative factors considered by the Company may include, but are not limited to, general economic conditions, the Company’s outlook, market performance of the Company’s industry and recent and forecasted financial performance. Further testing is only required if the entity determines, based on the qualitative assessment, that it is more likely than not that a reporting unit’s fair value is less than its carrying amount. Otherwise, no further impairment testing is required. If a quantitative assessment is required, the Company determines the fair value of its reporting unit using a combination of the income and market approaches. If the net book value of the reporting unit exceeds its fair value, the Company recognizes a goodwill impairment charge for the reporting unit equal to the lesser of (i) the total goodwill allocated to that reporting unit and (ii) the amount by which that reporting unit’s carrying amount exceeds its fair value.  Assumptions and estimates used in the evaluation of impairment may affect the carrying value of long-lived assets, which could result in impairment charges in future periods. Such assumptions include projections of future cash flows and the current fair value of the asset. No impairments were recorded for the three months ended March 31, 2022.</div> 0 <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold; font-variant: normal; text-transform: none;">Impairment of Long-Lived Assets</div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="font-weight: normal; font-style: normal;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;">The Company reviews its long-lived assets for impairment at least annually or when the Company determines a triggering event has occurred. When a triggering event has occurred, each impairment test is based on a comparison of the future expected undiscounted cash flow to the recorded value of the asset. If the recorded value of the asset is less than the undiscounted cash flow, the asset is written down to its estimated fair value. No impairments were recorded for the three months ended March 31, 2022 or 2021.<br/> </div> 0 0 <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Warrant Liabilities</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company’s outstanding warrants include publicly-traded warrants (the “Public Warrants”) which were issued as <span style="-sec-ix-hidden:Fact_5dc2db3cb3fa4204bf8bcbc5174947a5">one-third</span> of one redeemable warrant per unit issued during HighCape’s initial public offering on September 9, 2020, and warrants sold in a private placement (the “Private Warrants”) to HighCape’s sponsor, HighCape Capital Acquisition LLC (the “Sponsor”). The Company evaluated its warrants under Accounting Standards Codification (“ASC”) 815-40, <span style="font-style: italic;">Derivatives and Hedging-Contracts in Entity’s Own Equity</span> (“ASC 815-40”), and concluded that they do not meet the criteria to be classified in stockholders’ equity. Since the Public Warrants and Private Warrants meet the definition of a derivative under ASC 815-40, the Company recorded these warrants as long-term liabilities on the condensed consolidated balance sheet at fair value upon the Closing of the Business Combination, with subsequent changes in their respective fair values recognized in the condensed consolidated statements of operations and comprehensive loss at each reporting date.</div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Recently Issued Accounting Pronouncements</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Accounting pronouncements issued but not yet adopted<br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div> <span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> No new accounting pronouncement issued or effective during the three months ended March 31, 2022 had, or is expected to have, a material impact on the Company’s condensed consolidated financial statements.</div> <div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">3. BUSINESS COMBINATION</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> As discussed in Note 1, “Organization and Description of Business,” on June 10, 2021, the Company consummated the Business Combination, with Legacy Quantum-Si surviving the Merger as a wholly owned subsidiary of the Company. </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Pursuant to the Business Combination Agreement, at the effective time of the Merger (the “Effective Time”), each share of Legacy Quantum-Si capital stock (other than shares of Legacy Quantum-Si Series A preferred stock) that was issued and outstanding was automatically cancelled and extinguished and converted into the right to receive 0.7975 (the “Exchange Ratio”) shares of the Company’s Class A common stock, and each share of Legacy Quantum-Si Series A preferred stock that was issued and outstanding was automatically cancelled and extinguished and converted into the right to receive the number of shares of the Company’s Class B common stock equal to the Exchange Ratio.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The total number of shares of the Company’s Class A common stock outstanding immediately following the Closing was 116,463,160, and the total number of the Company’s Class B common stock outstanding immediately following the Closing was 19,937,500.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">In connection with the Business Combination, certain institutional investors purchased from the Company an aggregate of 42,500,000 shares of the Company’s Class A common stock for a purchase price of $10.00 per share and an aggregate purchase price of $425,001 pursuant to separate subscription agreements entered into effective as of February 18, 2021.  In addition, pursuant to subscription agreements entered into effective as of February 18, 2021, certain affiliates of Foresite Capital Management, LLC purchased an aggregate of 696,250 shares of the Company’s Class A common stock at a purchase price of $0.001 per share for aggregate purchase price of $1 after a corresponding number of shares of the Company’s Class B common stock was irrevocably forfeited by the Sponsor to HighCape for no consideration and automatically cancelled.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Business Combination is accounted for as a reverse recapitalization in accordance with U.S. GAAP primarily due to the fact that Legacy Quantum-Si stockholders continued to control the Company following the Closing of the Business Combination. Under this method of accounting, HighCape is treated as the “acquired” company for accounting purposes and the Business Combination is treated as the equivalent of Legacy Quantum-Si issuing stock for the net assets of HighCape, accompanied by a recapitalization. The net assets of HighCape are stated at historical cost, with no goodwill or other intangible assets recorded. Reported shares and earnings per share available to holders of the Company’s capital stock and equity awards prior to the Business Combination have been retroactively restated reflecting the Exchange Ratio.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Upon the Closing, the Company’s certificate of incorporation was amended and restated to, among other things, adopt a dual class structure, comprised of the Company’s Class A common stock, which is entitled to one vote per share, and the Company’s Class B common stock, which is entitled to 20 votes per share. The Company’s Class B common stock has the same economic terms as the Company’s Class A common stock, but is subject to a “sunset” provision if Jonathan M. Rothberg, Ph.D., the founder of Legacy Quantum-Si, Interim Chief Executive Officer and Executive Chairman of the Company (“Dr. Rothberg”), and other permitted holders of the Company’s Class B common stock collectively cease to beneficially own at least twenty percent (20%) of the number of shares of the Company’s Class B common stock (as such number of shares is equitably adjusted in respect of any reclassification, stock dividend, subdivision, combination or recapitalization of the Company’s Class B common stock) collectively held by Dr. Rothberg and permitted transferees of the Company’s Class B common stock as of the Effective Time.</div> 0.7975 116463160 19937500 42500000 10.00 425001000 696250 0.001 1000 1 20 0.20 <div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">4. ACQUISITION</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Majelac Technologies LLC</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Pursuant to the terms and conditions of an Asset Purchase Agreement by and among the Company, Majelac Technologies LLC (“Majelac”), and certain other parties, on November 5, 2021 (the “Closing Date”), the Company acquired certain assets and assumed certain liabilities of Majelac, a privately-owned company providing semiconductor chip assembly and packaging capabilities located in Pennsylvania, for $4,632 in cash including $132 in reimbursement for certain recently purchased equipment, and 535,715 shares of Class A common stock, valued at $4,232, issued to Majelac subject to certain restrictions. An additional 59,523 shares of Class A common stock valued at $471 will be issued to Majelac 12 months after the Closing Date less the number of shares of Class A common stock that may be required by the buyer indemnitees to satisfy any unresolved claims for indemnification, if any. The Company also assumed the legal fees of Majelac of $50. Additional purchase price consideration of $500 in cash will be paid six months after the Closing date less any amount that may be required by the buyer indemnitees to satisfy any unresolved claims for indemnification, if any. The Company may pay up to an additional $800 valued at $531 subject to certain future milestones being met. The acquisition brings semiconductor chip assembly and packaging capabilities in-house to secure the Company’s supply chain and support scaling commercialization efforts. Prior to the acquisition, Majelac was a vendor of the Company. On May 4, 2022, the Company paid Majelac $500 in cash for the additional purchase price consideration and $400<span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> in cash </span>since the <span style="-sec-ix-hidden:Fact_e54e47c3fae24810b51fa719e052f706">first</span> <span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">of two milestones</span> was met.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The following table summarizes the preliminary purchase price allocation at the acquisition date as follows:</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <table cellpadding="0" cellspacing="0" class="cfttable" style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; width: 100%;"> <tr> <td style="vertical-align: bottom; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Purchase Price</div> <div style="text-align: center; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Allocation</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Prepaid expenses and other current assets</div> </td> <td colspan="1" style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>27</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; white-space: nowrap;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Property and equipment, net</div> </td> <td colspan="1" style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>906</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Goodwill</div> </td> <td colspan="1" style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>9,483</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="text-indent: -7.2pt; font-weight: bold; margin-left: 7.2pt; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Total</div> </td> <td colspan="1" style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">10,416</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The above estimated fair values of consideration transferred, assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date. The Company believes that information provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed. Thus, the preliminary measurements of fair value set forth above may be subject to change. The Company expects to finalize the valuation as soon as practicable but no later than one year from the acquisition date.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Goodwill represents the excess of the consideration transferred over the aggregate fair values of assets acquired and liabilities assumed. The goodwill recorded in connection with this acquisition was based on operating synergies and other benefits expected to result from the combined operations. The goodwill acquired is amortizable for tax purposes over a period of 15 years.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Acquisition-related costs recognized for the three months ended March 31, 2022 including transaction costs such as legal, accounting, valuation and other professional services, were $25 and are included in Selling, general and administrative on the condensed consolidated statements of operations and comprehensive loss.</div> 4632000 132000 535715000 4232000 59523000 471000 P12M 50000 500000 P6M 800000 531000 500000 400000 2 <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The following table summarizes the preliminary purchase price allocation at the acquisition date as follows:</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <table cellpadding="0" cellspacing="0" class="cfttable" style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; width: 100%;"> <tr> <td style="vertical-align: bottom; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Purchase Price</div> <div style="text-align: center; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Allocation</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Prepaid expenses and other current assets</div> </td> <td colspan="1" style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>27</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; white-space: nowrap;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Property and equipment, net</div> </td> <td colspan="1" style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>906</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Goodwill</div> </td> <td colspan="1" style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>9,483</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="text-indent: -7.2pt; font-weight: bold; margin-left: 7.2pt; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Total</div> </td> <td colspan="1" style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">10,416</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 27000 906000 9483000 10416000 P15Y 25000 <div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">5. FAIR VALUE OF FINANCIAL INSTRUMENTS</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Fair value estimates of financial instruments are made at a specific point in time, based on relevant information about financial markets and specific financial instruments. As these estimates are subjective in nature, involving uncertainties and matters of significant judgment, they cannot be determined with precision. Changes in assumptions can significantly affect estimated fair value.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The Company measures fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The Company utilizes a three-tier hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:</div> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"> <tr> <td style="width: 18pt;"><br/> </td> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">●</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Level 1 -  Valuations based on quoted prices in active markets for identical assets or liabilities that an entity has the ability to access.</div> </td> </tr> </table> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"> <tr> <td style="width: 18pt;"><br/> </td> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">●</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Level 2 -  Valuations based on quoted prices for similar assets or liabilities, quoted prices for identical assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.</div> </td> </tr> </table> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"> <tr> <td style="width: 18pt;"><br/> </td> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">●</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Level 3 -  Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.</div> </td> </tr> </table> <div>  </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The carrying value of cash and cash equivalents, accounts payable and accrued expenses and other current liabilities approximates their fair values due to the short-term or on demand nature of these instruments. There were no transfers between fair value measurement levels during the three months ended March 31, 2022. The Company accounted for the warrants as liabilities in accordance with ASC 815-40 and are presented as Warrant liabilities on the condensed consolidated balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented as Change in fair value of warrant liabilities in the condensed consolidated statements of operations and comprehensive loss.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Public Warrants and Private Warrants were carried at fair value as of March 31, 2022. The Public Warrants were valued using Level 1 inputs as they are traded in an active market. The Private Warrants were valued using a binomial lattice model, which results in a Level 3 fair value measurement. The primary unobservable input utilized in determining the fair value of the Private Warrants was the expected volatility of the Company’s Class A common stock. The expected volatility was based on consideration of the implied volatility from the Company’s own public warrant pricing and on the historical volatility observed at guideline public companies. As of March 31, 2022, the significant assumptions used in preparing the binomial lattice model for valuing the Private Warrants liability include (i) volatility of 64.1%, (ii) risk-free interest rate of 2.42%, (iii) strike price of $11.50, (iv) fair value of common stock of $4.68, and (v) expected life of 4.4 years.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div><span style="font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Fixed income mutual funds were valued using quoted market prices and accordingly were classified as Level 1.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="10" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Fair Value Measurement Level</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Total</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Level 1</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Level 2</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Level 3</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">March 31, 2022:</div> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Assets:</div> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Fixed income mutual funds - Cash and cash equivalents </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>29,117</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>29,117</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="margin-left: 9pt;">Marketable securities</div> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">399,810<br/> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">399,810<br/> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">-<br/> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">-<br/> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 18pt;">Total assets at fair value on a recurring basis</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">428,927</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">428,927</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; width: 52%;" valign="bottom"> <div style="margin-left: 9pt;"> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Liabilities:</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Public Warrants</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>4,408</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>4,408</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Private Warrants</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>184</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>184</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 18pt;">Total liabilities at fair value on a recurring basis</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">4,592</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">4,408</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">184</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="10" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Fair Value Measurement Level</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="text-align: center; font-weight: bold;">Total</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="text-align: center; font-weight: bold;">Level 1</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="text-align: center; font-weight: bold;">Level 2</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="text-align: center; font-weight: bold;">Level 3</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">December 31, 2021:</div> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Assets:</div> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div> <div style="color: rgb(0, 0, 0); text-indent: 9pt;">Fixed income mutual funds - Cash and cash equivalents</div> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>33,965</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>33,965</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="margin-left: 9pt;">Marketable securities</div> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">435,519</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">435,519</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">-</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">-</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;"> <div style="color: rgb(0, 0, 0); font-weight: bold; text-indent: 9pt;">Total assets at fair value on a recurring basis</div> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">469,484</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">469,484</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; width: 52%;" valign="bottom"> <div style="margin-left: 9pt;"> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Liabilities:</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Public Warrants</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>6,900</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>6,900</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Private Warrants</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>339</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>339</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 18pt;">Total liabilities at fair value on a recurring basis</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">7,239</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">6,900</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">339</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 0 0 0 0 0 0 0 0 0.641 0.0242 11.50 4.68 P4Y4M24D <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="10" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Fair Value Measurement Level</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Total</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Level 1</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Level 2</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Level 3</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">March 31, 2022:</div> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Assets:</div> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Fixed income mutual funds - Cash and cash equivalents </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>29,117</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>29,117</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="margin-left: 9pt;">Marketable securities</div> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">399,810<br/> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">399,810<br/> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">-<br/> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">-<br/> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 18pt;">Total assets at fair value on a recurring basis</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">428,927</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">428,927</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; width: 52%;" valign="bottom"> <div style="margin-left: 9pt;"> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Liabilities:</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Public Warrants</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>4,408</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>4,408</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Private Warrants</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>184</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>184</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 18pt;">Total liabilities at fair value on a recurring basis</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">4,592</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">4,408</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">184</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="10" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Fair Value Measurement Level</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="text-align: center; font-weight: bold;">Total</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="text-align: center; font-weight: bold;">Level 1</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="text-align: center; font-weight: bold;">Level 2</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="text-align: center; font-weight: bold;">Level 3</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">December 31, 2021:</div> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Assets:</div> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: middle;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div> <div style="color: rgb(0, 0, 0); text-indent: 9pt;">Fixed income mutual funds - Cash and cash equivalents</div> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>33,965</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>33,965</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="margin-left: 9pt;">Marketable securities</div> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">435,519</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">435,519</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">-</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">-</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;"> <div style="color: rgb(0, 0, 0); font-weight: bold; text-indent: 9pt;">Total assets at fair value on a recurring basis</div> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">469,484</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">469,484</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; width: 52%;" valign="bottom"> <div style="margin-left: 9pt;"> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Liabilities:</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Public Warrants</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>6,900</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>6,900</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 18pt;">Private Warrants</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>339</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>339</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 18pt;">Total liabilities at fair value on a recurring basis</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">7,239</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">6,900</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-weight: bold;">339</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 29117000 29117000 0 0 399810000 399810000 0 0 428927000 428927000 0 0 4408000 4408000 0 0 184000 0 0 184000 4592000 4408000 0 184000 33965000 33965000 0 0 435519000 435519000 0 0 469484000 469484000 0 0 6900000 6900000 0 0 339000 0 0 339000 7239000 6900000 0 339000 <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <span style="font-weight: bold;">6. PROPERTY AND EQUIPMENT, NET </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="font-family: 'Times New Roman'; font-size: 10pt;">Property and equipment, net, are recorded at historical cost and consist of the following:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;"> <div style="font-weight: bold;"> March 31,</div> 2022</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;"> <div style="font-weight: bold;">December 31,</div> 2021</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Laboratory and production equipment</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>9,209</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>7,465</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; white-space: nowrap;" valign="bottom"> <div>Computer equipment</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>907</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>637</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Software</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>179</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>156</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; white-space: nowrap;" valign="bottom"> <div>Furniture and fixtures</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>172</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>125</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">Leasehold improvements</td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">970</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">790</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>Construction in process</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>4,041</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>3,610</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">Property and equipment, gross</td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>15,478</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>12,783</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>Less: Accumulated depreciation</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>(4,327</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>(3,875</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>)</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">Property and equipment, net</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">11,151</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">8,908</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: justify;">Depreciation expense amounted to $452 and $213 for the three months ended March 31, 2022 and 2021, respectively.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;">Property and equipment, net, are recorded at historical cost and consist of the following:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;"> <div style="font-weight: bold;"> March 31,</div> 2022</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;"> <div style="font-weight: bold;">December 31,</div> 2021</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Laboratory and production equipment</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>9,209</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>7,465</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; white-space: nowrap;" valign="bottom"> <div>Computer equipment</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>907</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>637</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Software</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>179</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>156</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; white-space: nowrap;" valign="bottom"> <div>Furniture and fixtures</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>172</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>125</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">Leasehold improvements</td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">970</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">790</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>Construction in process</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>4,041</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>3,610</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">Property and equipment, gross</td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>15,478</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>12,783</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>Less: Accumulated depreciation</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>(4,327</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>(3,875</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>)</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">Property and equipment, net</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">11,151</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">8,908</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 9209000 7465000 907000 637000 179000 156000 172000 125000 970000 790000 4041000 3610000 15478000 12783000 4327000 3875000 11151000 8908000 452000 213000 <div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">7. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="font-family: 'Times New Roman'; font-size: 10pt;">Accrued expenses and other current liabilities consist of the following:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;"> <div style="font-weight: bold;">March 31,</div> 2022</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;"> <div style="font-weight: bold;">December 31,</div> 2021</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Employee compensation and benefits </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>2,448</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>2,680</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; white-space: nowrap;" valign="bottom"> <div>Contracted services</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>4,395</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>2,606</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">Business acquisition costs and contingencies</td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">1,351</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">1,331</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; white-space: nowrap;" valign="bottom"> <div>Legal fees</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>568</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>636</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Other</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>17</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>23</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">Total accrued expenses and other current liabilities</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">8,779</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">7,276</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;">Accrued expenses and other current liabilities consist of the following:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;"> <div style="font-weight: bold;">March 31,</div> 2022</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;"> <div style="font-weight: bold;">December 31,</div> 2021</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Employee compensation and benefits </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>2,448</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>2,680</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; white-space: nowrap;" valign="bottom"> <div>Contracted services</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>4,395</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>2,606</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">Business acquisition costs and contingencies</td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">1,351</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">1,331</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; white-space: nowrap;" valign="bottom"> <div>Legal fees</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>568</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>636</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Other</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>17</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>23</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">Total accrued expenses and other current liabilities</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">8,779</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">7,276</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 2448000 2680000 4395000 2606000 1351000 1331000 568000 636000 17000 23000 8779000 7276000 <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">8. LEASES</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company has commitments under lease arrangements for office and manufacturing space and office equipment. The Company’s leases have initial lease terms ranging from one year to 10 years. These leases include options to extend or renew the leases for an additional period of <span style="-sec-ix-hidden:Fact_399a45a976f140559fe1fca5d28d17cf">one</span> to 10 years.</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Operating leases are accounted for on the condensed consolidated balance sheets with ROU assets being recognized in “Operating lease right-of-use assets” and lease liabilities recognized in “Short-term operating lease liabilities” and “Operating lease liabilities”. Lease-related costs are included in Research and development and Selling, general and administrative in the condensed consolidated statements of operations and comprehensive loss.</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Lease-related costs for the three months ended March 31, 2022  and 2021 are as follows:</div> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Three months ended March 31,</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 2022<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">2021<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Operating lease cost</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">725</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Short-term lease cost</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">104</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">122</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Variable lease cost</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">286</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total lease cost</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">1,115</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">122</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Other information related to operating leases as of March 31, 2022 and December 31, 2021 is as follows:</div> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;"> <tr> <td style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">March 31,</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">December 31,</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 2022<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">2021<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Weighted-average remaining lease term (years)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">8.0</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">5.9</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Weighted-average discount rate</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">7.5</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">%</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">7.0</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">%</div> </td> </tr> </table> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The following table provides certain cash flow and supplemental cash flow information related to the Company’s lease liabilities for the three months ended March 31, 2022  and 2021:</div> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Three months ended March 31,</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 2022<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">2021<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Operating cash paid to settle operating lease liabilities</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">310</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Right-of-use assets obtained in exchange for lease liabilities</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">8,490</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Future minimum lease payments under non-cancellable leases as of March 31, 2022 are as follows:</div> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating Leases</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Remainder of 2022</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">2,018</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">2023</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">3,972</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">2024</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">4,074</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">2025</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">4,178</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">2026</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">4,254</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; padding-bottom: 2px;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Thereafter</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">16,547</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total undiscounted lease payments</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">35,043</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Less: Imputed interest</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">9,580</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Less: Lease incentives ⁽¹⁾ <br/> </div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">9,104</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; padding-bottom: 4px;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total lease liabilities</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">16,359</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div> <br/> </div> <div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;"> <tr style="vertical-align: top;"> <td style="vertical-align: top; width: 18pt;"> <div>⁽¹⁾</div> </td> <td style="align: left; vertical-align: top; width: auto;"> <div>Includes lease incentives that will be realized in 2022.</div> </td> </tr> </table> </div> P1Y P10Y P10Y <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Lease-related costs for the three months ended March 31, 2022  and 2021 are as follows:</div> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Three months ended March 31,</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 2022<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">2021<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Operating lease cost</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">725</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Short-term lease cost</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">104</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">122</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Variable lease cost</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">286</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total lease cost</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">1,115</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">122</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 725000 0 104000 122000 286000 0 1115000 122000 <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Other information related to operating leases as of March 31, 2022 and December 31, 2021 is as follows:</div> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;"> <tr> <td style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">March 31,</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">December 31,</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 2022<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">2021<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Weighted-average remaining lease term (years)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">8.0</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">5.9</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Weighted-average discount rate</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">7.5</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">%</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">7.0</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">%</div> </td> </tr> </table> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The following table provides certain cash flow and supplemental cash flow information related to the Company’s lease liabilities for the three months ended March 31, 2022  and 2021:</div> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Three months ended March 31,</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 2022<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">2021<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Operating cash paid to settle operating lease liabilities</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">310</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Right-of-use assets obtained in exchange for lease liabilities</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">8,490</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> </table> P8Y P5Y10M24D 0.075 0.070 310000 0 8490000 0 <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Future minimum lease payments under non-cancellable leases as of March 31, 2022 are as follows:</div> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating Leases</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Remainder of 2022</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">2,018</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">2023</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">3,972</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">2024</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">4,074</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">2025</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">4,178</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">2026</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">4,254</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; padding-bottom: 2px;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Thereafter</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">16,547</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total undiscounted lease payments</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">35,043</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Less: Imputed interest</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">9,580</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Less: Lease incentives ⁽¹⁾ <br/> </div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">9,104</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; padding-bottom: 4px;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total lease liabilities</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">16,359</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div> <br/> </div> <div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;"> <tr style="vertical-align: top;"> <td style="vertical-align: top; width: 18pt;"> <div>⁽¹⁾</div> </td> <td style="align: left; vertical-align: top; width: auto;"> <div>Includes lease incentives that will be realized in 2022.</div> </td> </tr> </table> </div> 2018000 3972000 4074000 4178000 4254000 16547000 35043000 9580000 9104000 16359000 <div style="background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">9. EQUITY INCENTIVE PLAN </div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company’s 2013 Employee, Director and Consultant Equity Incentive Plan, as amended on March 12, 2021 (the “2013 Plan”), was originally adopted by its Board of Directors and stockholders in September 2013. In connection with the Closing of the Business Combination, the Company adjusted the equity awards as described in Note 3 “Business Combination”. The adjustments to the awards did not result in incremental expense as the equitable adjustments were made pursuant to a preexisting nondiscretionary antidilution provision in the 2013 Plan, and the fair-value, vesting conditions, and classification are the same immediately before and after the modification. In connection with the Business Combination, HighCape’s stockholders approved and adopted the Quantum-Si Incorporated 2021 Equity Incentive Plan (the “2021 Plan”) and the Company no longer makes issuances under the 2013 Plan. The 2021 Plan provides for grants of stock options, stock appreciation rights, restricted stock, restricted stock units, and other stock or cash-based awards. Directors, officers and other employees of the Company and its subsidiaries, as well as others performing consulting or advisory services for the Company, are eligible for grants under the 2021 Plan.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Stock option activity</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">During the three months ended March 31, 2022, the Company granted 4,371,150 option awards subject to service conditions. The service condition requires the participant’s continued employment with the Company through the applicable vesting date. Stock-based compensation for stock options for the three months ended March 31, 2022 and 2021 was $1,494 and $457, respectively.</div> <div><br/> </div> <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">A summary of the stock option activity under the 2013 Plan and the 2021 Plan is presented in the table below:<br/> </div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Number of</div> <div style="text-align: center; font-weight: bold;">Options</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Weighted Average</div> <div style="text-align: center; font-weight: bold;">Exercise Price</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Weighted Average</div> <div style="text-align: center; font-weight: bold;">Remaining</div> <div style="text-align: center; font-weight: bold;">Contractual Term</div> <div style="text-align: center; font-weight: bold;"> (Years)</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Aggregate</div> <div style="text-align: center; font-weight: bold;">Intrinsic Value</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: middle; width: 52%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Outstanding at December 31, 2021</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>7,726,972</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>5.14</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>7.58</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>24,511</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; white-space: nowrap;" valign="bottom"> <div>Granted</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>4,371,150</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>3.89</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Exercised</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>(403,020</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>1.81</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>Forfeited</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div>(329,897</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div>7.36</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Outstanding at March 31, 2022</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div>11,365,205</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div>4.60</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>8.35</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>12,341</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: middle; width: 52%; white-space: nowrap;" valign="bottom"> <div>Options exercisable at March 31, 2022</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>4,064,440</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>3.13</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>6.25</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>7,802</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: middle; width: 52%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Vested and expected to vest at March 31, 2022</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div>10,405,587</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div>4.52</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>8.24</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>11,744</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Restricted stock unit activity</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">During the three months ended March 31, 2022, the Company did not grant any restricted stock unit (“RSU”) awards. </span>On February 8, 2022, John Stark, the Company’s then-Chief Executive Officer and member of its board of directors, stepped down from all of his positions with the Company.  As a result of Mr. Stark not meeting the service conditions of certain awards previously granted to him, 1,731,371 <span style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">RSU awards were forfeited resulting in a reversal of stock-based compensation for the three months ended March 31, 2022 of $4,742. Stock-based compensation for RSU awards for the three months ended March 31, 2022 and 2021 was $(2,208) and $0, respectively.</span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">A summary of the RSU activity under the 2013 Plan and the 2021 Plan is presented in the table below:</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Number of</div> <div style="text-align: center; font-weight: bold;"> Shares </div> <div style="text-align: center; font-weight: bold;">Underlying</div> <div style="text-align: center; font-weight: bold;"> RSUs</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; white-space: nowrap;"> <div style="font-weight: bold;"> Weighted </div> <div style="font-weight: bold;">Average Grant-</div> <div style="font-weight: bold;">Date Fair Value</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Outstanding non-vested RSUs at December 31, 2021</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>4,586,972</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">$</td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">8.00</td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; white-space: nowrap;" valign="bottom"> <div style="margin-left: 9pt;">Granted</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="margin-left: 9pt;">Vested</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>(543,967</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>7.91</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="margin-left: 9pt;">Forfeited</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>(1,731,371</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>7.15</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Outstanding non-vested RSUs at March 31, 2022</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>2,311,634</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>8.97</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company’s stock-based compensation is allocated to the following operating expense categories as follows:</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Three months ended March 31,</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-weight: bold;"> 2022<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-weight: bold;">2021<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: middle; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div>Research and development</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>1,192</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>340</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>Selling, general and administrative</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div>(1,906</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div>117</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: middle; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">Total stock-based compensation<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">(714</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">457</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 4371150 1494000 457000 <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">A summary of the stock option activity under the 2013 Plan and the 2021 Plan is presented in the table below:<br/> </div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Number of</div> <div style="text-align: center; font-weight: bold;">Options</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Weighted Average</div> <div style="text-align: center; font-weight: bold;">Exercise Price</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Weighted Average</div> <div style="text-align: center; font-weight: bold;">Remaining</div> <div style="text-align: center; font-weight: bold;">Contractual Term</div> <div style="text-align: center; font-weight: bold;"> (Years)</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Aggregate</div> <div style="text-align: center; font-weight: bold;">Intrinsic Value</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: middle; width: 52%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Outstanding at December 31, 2021</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>7,726,972</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>5.14</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>7.58</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>24,511</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; white-space: nowrap;" valign="bottom"> <div>Granted</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>4,371,150</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>3.89</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Exercised</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>(403,020</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>1.81</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>Forfeited</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div>(329,897</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div>7.36</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Outstanding at March 31, 2022</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div>11,365,205</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div>4.60</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>8.35</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>12,341</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: middle; width: 52%; white-space: nowrap;" valign="bottom"> <div>Options exercisable at March 31, 2022</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>4,064,440</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>3.13</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>6.25</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>7,802</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: middle; width: 52%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Vested and expected to vest at March 31, 2022</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div>10,405,587</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div>4.52</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>8.24</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>11,744</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 7726972 5.14 P7Y6M29D 24511000 4371150 3.89 403020 1.81 329897 7.36 11365205 4.60 P8Y4M6D 12341000 4064440 3.13 P6Y3M 7802000 10405587 4.52 P8Y2M26D 11744000 1731371 -4742000 -2208000 0 <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">A summary of the RSU activity under the 2013 Plan and the 2021 Plan is presented in the table below:</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Number of</div> <div style="text-align: center; font-weight: bold;"> Shares </div> <div style="text-align: center; font-weight: bold;">Underlying</div> <div style="text-align: center; font-weight: bold;"> RSUs</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; white-space: nowrap;"> <div style="font-weight: bold;"> Weighted </div> <div style="font-weight: bold;">Average Grant-</div> <div style="font-weight: bold;">Date Fair Value</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Outstanding non-vested RSUs at December 31, 2021</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>4,586,972</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">$</td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">8.00</td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; white-space: nowrap;" valign="bottom"> <div style="margin-left: 9pt;">Granted</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="margin-left: 9pt;">Vested</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>(543,967</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>7.91</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="margin-left: 9pt;">Forfeited</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>(1,731,371</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>7.15</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>Outstanding non-vested RSUs at March 31, 2022</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>2,311,634</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>8.97</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> 4586972 8.00 0 0 543967 7.91 1731371 7.15 2311634 8.97 <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company’s stock-based compensation is allocated to the following operating expense categories as follows:</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Three months ended March 31,</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-weight: bold;"> 2022<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-weight: bold;">2021<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: middle; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div>Research and development</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>1,192</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>340</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>Selling, general and administrative</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div>(1,906</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div>117</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: middle; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold;">Total stock-based compensation<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">(714</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">457</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 1192000 340000 -1906000 117000 -714000 457000 <div><span style="font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">10. NET LOSS PER SHARE</span> <br/></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock of the Company outstanding during the period. Diluted net loss per share is computed by giving effect to all common share equivalents of the Company, including those presented in the table below, to the extent dilutive. Basic and diluted net loss per share was the same for each period presented as the inclusion of all common share equivalents would have been anti-dilutive.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The following table presents the calculation of basic and diluted net loss per share for the Company’s common stock:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Three months ended March 31,</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="text-align: center; font-weight: bold;"> 2022<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="text-align: center; font-weight: bold;">2021<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Numerator</div> </td> <td colspan="1" style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt;">Net loss</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div>(35,175</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div>(11,779</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>)</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 18pt;">Numerator for basic and diluted EPS - loss attributable to common stockholders</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">(35,175</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">(11,779</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Denominator</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt;">Common stock</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div>138,619,929</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div>5,528,551</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 18pt;">Denominator for basic and diluted EPS - weighted-average common stock</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">138,619,929</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">5,528,551</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Basic and diluted net loss per share</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">(0.25</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">(2.13</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">)</div> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: justify;">Since the Company was in a net loss position for all periods presented, the basic net loss per shares calculation excludes preferred stock as it does not participate in net losses of the Company. Additionally, net loss per share attributable to Class A and Class B common stockholders was the same on a basic and diluted basis, as the inclusion of all potential common equivalent shares outstanding would have been anti-dilutive. <span style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0);">Anti-dilutive common equivalent shares were as follows: </span></div> <div><br/></div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Three months ended March 31,</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;"> 2022<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">2021<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div>Outstanding options to purchase common stock</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>11,365,205</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>7,814,189</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%;" valign="bottom"> <div>Outstanding restricted stock units</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>2,311,634</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>4,474,575</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div>Outstanding warrants</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>3,968,319</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div>Outstanding convertible preferred stock (Series A through E)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>90,789,268</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">17,645,158</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">103,078,032</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The following table presents the calculation of basic and diluted net loss per share for the Company’s common stock:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Three months ended March 31,</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="text-align: center; font-weight: bold;"> 2022<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="text-align: center; font-weight: bold;">2021<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Numerator</div> </td> <td colspan="1" style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt;">Net loss</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div>(35,175</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div>$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div>(11,779</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div>)</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 18pt;">Numerator for basic and diluted EPS - loss attributable to common stockholders</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">(35,175</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">(11,779</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Denominator</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt;">Common stock</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div>138,619,929</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div>5,528,551</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 18pt;">Denominator for basic and diluted EPS - weighted-average common stock</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">138,619,929</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">5,528,551</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px;" valign="bottom"> <div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Basic and diluted net loss per share</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">(0.25</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">(2.13</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">)</div> </td> </tr> </table> -35175000 -11779000 -35175000 -35175000 -11779000 -11779000 138619929 5528551 138619929 138619929 5528551 5528551 -0.25 -0.25 -2.13 -2.13 <span style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0);">Anti-dilutive common equivalent shares were as follows: </span> <div><br/></div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">Three months ended March 31,</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;"> 2022<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-weight: bold;">2021<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div>Outstanding options to purchase common stock</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>11,365,205</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>7,814,189</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%;" valign="bottom"> <div>Outstanding restricted stock units</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>2,311,634</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom"> <div>4,474,575</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div>Outstanding warrants</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>3,968,319</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div>Outstanding convertible preferred stock (Series A through E)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div>90,789,268</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">17,645,158</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-weight: bold;">103,078,032</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 11365205 7814189 2311634 4474575 3968319 0 0 90789268 17645158 103078032 <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;"> <tr style="vertical-align: top;"> <td style="width: 18pt; vertical-align: top;"> <div style="text-align: justify; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">11.</div> </td> <td style="width: auto; vertical-align: top; align: left;"> <div style="text-align: justify; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">WARRANT LIABILITIES</div> </td> </tr> </table> </div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Public Warrants</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">As of March 31, 2022, there were an aggregate of 3,833,319 outstanding Public Warrants, which entitle the holder to acquire Class A common stock. Each whole warrant entitles the registered holder to purchase one share of Class A common stock at an exercise price of $11.50 per share, subject to adjustment as discussed below, beginning on September 9, 2021. The warrants will expire on June 10, 2026 or earlier upon redemption or liquidation.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="text-align: justify; font-style: italic; font-family: 'Times New Roman'; font-size: 10pt;">Redemptions</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span> <span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">At any time while the warrants are exercisable, the Company may redeem not less than all of the outstanding Public Warrants:</div> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"> <tr> <td style="width: 18pt;"><br/> </td> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">●</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-size: 1pt;"> </span>in whole and not in part;</div> </td> </tr> </table> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"> <tr> <td style="width: 18pt;"><br/> </td> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">●</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">at a price of $0.01 per warrant;</div> </td> </tr> </table> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"> <tr> <td style="width: 18pt;"><br/> </td> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">●</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">upon not less than 30 days’ prior written notice of redemption (the “30-day redemption period”) to each warrant holder; and</div> </td> </tr> </table> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"> <tr> <td style="width: 18pt;"><br/> </td> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">●</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">if, and only if, the closing price of the Company’s common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending <span style="-sec-ix-hidden:Fact_1be0f97246064975b14d51e8635b52de">three</span> business days before the Company sends the notice of redemption to the warrant holders.</div> </td> </tr> </table> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">If the foregoing conditions are satisfied and the Company issues a notice of redemption of the Public Warrants at $0.01 per warrant, each holder of Public Warrants will be entitled to exercise his, her or its Public Warrants prior to the scheduled redemption date.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">If the Company calls the Public Warrants for redemption for $0.01 as described above, the Company’s Board of Directors may elect to require any holder that wishes to exercise his, her or its Public Warrants to do so on a “cashless basis.” If the Company’s Board of Directors makes such election, all holders of Public Warrants would pay the exercise price by surrendering their warrants for that number of shares of Class A common stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A common stock underlying the warrants, multiplied by the excess of the “fair market value” ​over the exercise price of the warrants by (y) the “fair market value”. For purposes of the redemption provisions of the warrants, the “fair market value” means the average last reported sale price of the Class A common stock for the 10 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of warrants.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company evaluated the Public Warrants under ASC 815-40, in conjunction with the SEC Division of Corporation Finance’s April 12, 2021 Public Statement, <span style="font-style: italic;">Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”)</span> (the “SEC Statement”), and concluded that they do not meet the criteria to be classified in stockholders’ equity. Specifically, the exercise of the warrants may be settled in cash upon the occurrence of a tender offer or exchange offer in which the maker of the tender offer or exchange offer, upon completion of the tender offer or exchange offer, beneficially owns more than 50% of the outstanding shares of the Company’s Class A common stock, even if it would not result in a change of control of the Company. This provision would preclude the warrants from being classified in equity and thus the warrants should be classified as a liability.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Private Warrants</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">As of March 31, 2022, there were 135,000 Private Warrants outstanding. The Private Warrants are identical to the Public Warrants, except that so long as they are held by the Sponsor or any of its permitted transferees, (i) the Private Warrants and the shares of Class A common stock issuable upon the exercise of the Private Warrants were not transferable, assignable or saleable until 30 days after the completion of the Business Combination, (ii) the Private Warrants will be exercisable for cash or on a cashless basis, at the holder’s option, and (iii) the Private Warrants are not subject to the Company’s redemption option at the price of $0.01 per warrant. The Private Warrants are subject to the Company’s redemption option at the price of $0.01 per warrant, provided that the other conditions of such redemption are met, as described above. If the Private Warrants are held by a holder other than the Sponsor or any of its permitted transferees, the Private Warrants will be redeemable by the Company in all redemption scenarios applicable to the Public Warrants and exercisable by such holders on the same basis as the Public Warrants.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company evaluated the Private Warrants under ASC 815-40, in conjunction with the SEC Statement<span style="font-style: italic;">,</span> and concluded that they do not meet the criteria to be classified in stockholders’ equity. Specifically, the terms of the warrants provide for potential changes to the settlement amounts depending upon the characteristics of the warrant holder, and, because the holder of a warrant is not an input into the pricing of a fixed-for-fixed option on equity shares, such provision would preclude the warrant from being classified in equity and thus the warrant has been classified as a liability.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The fair value of warrant liabilities was $4,592 as of March 31, 2022.  The Company recognized a gain of $2,647 as a Change in fair value of warrant liabilities in the condensed consolidated statement of operations and comprehensive loss for the three months ended March 31, 2022. There were no exercises or redemptions of the Public Warrants or Private Warrants during the three months ended March 31, 2022.</div> 3833319 1 11.50 0.01 P30D P30D 18.00 P20D P30D 0.01 0.01 P10D 0.50 135000 P30D 0.01 0.01 4592000 2647000 0 0 0 0 <div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">12. INCOME TAXES<br/> </div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Income taxes for the three months ended March 31, 2022 and 2021 are recorded at the Company’s estimated annual effective income tax rate, subject to adjustments for discrete events, if they occur. The Company’s estimated annual effective tax rate was 0.0% for the three months ended March 31, 2022 and 2021. The primary reconciling items between the federal statutory rate of 21.0% for these periods and the Company’s overall effective tax rate of 0.0% were related to the effects of deferred state income taxes, nondeductible stock-based compensation, changes in the fair value of warrant liabilities, research and development credits, and the valuation allowance recorded against the full amount of its net deferred tax assets.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">A valuation allowance is required when it is more likely than not that some portion or all of the Company’s deferred tax assets will not be realized. The realization of deferred tax assets depends on the generation of sufficient future taxable income during the period in which the Company’s related temporary differences become deductible. The Company has recorded a full valuation allowance against its net deferred tax assets as of March 31, 2022 and 2021 since management believes that based on the earnings history of the Company, it is more likely than not that the benefits of these assets will not be realized.</div> <div><br/></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">As a result of the Business Combination, as well as any other equity issuances during the year, the Company is currently evaluating whether an ownership change has occurred under Section 382 of the Internal Revenue Code of 1986, as amended, and whether the Company’s ability to use its pre-change net operating loss and tax credit carryforwards will be limited in future periods. The Company expects to complete its analysis during 2022.</div> 0.000 0.000 0.210 0.210 0.000 0.000 <div style="text-align: justify; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">13. RELATED PARTY TRANSACTIONS</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The Company utilizes and subleases office and laboratory space in a building owned by a related party. The Company paid $80 under month-to-month lease arrangements for this space for the three months ended March 31, 2022 and 2021.</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">The Company was a party to an Amended and Restated Technology Services Agreement (the “ARTSA”), most recently amended on November 11, 2020, by and among 4Catalyzer Corporation (“4C”), the Company and other participant companies controlled by the Rothberg family. The Company entered into a First Addendum to the ARTSA on February 17, 2021 pursuant to which the Company agreed to terminate its participation under the ARTSA no later than immediately prior to the Effective Time of the Business Combination, resulting in the termination of the Company’s participation under the ARTSA on June 10, 2021. In connection with the termination of the Company’s participation under the ARTSA, the Company terminated its lease agreement with 4C and negotiated an arm’s length lease agreement. Under the ARTSA, the Company and the other participant companies had agreed to share certain non-core technologies, which means any technologies, information or equipment owned or otherwise controlled by the participant company that are not specifically related to the core business area of the participant and subject to certain restrictions on use. The ARTSA also provided for 4C to perform certain services for the Company and each other participant company such as monthly administrative, management and technical consulting services to the Company which were pre-funded approximately once per quarter. The Company incurred expenses of $<span style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">210</span> and $<span style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">535</span>, which included $50 and $38 under month-to-month sublease arrangements for office and laboratory spaces from 4C, during the three months ended March 31, 2022 and 2021, respectively. </span>The amounts advanced and due to 4C at March 31, 2022 and December 31, 2021, related to operating expenses was $140, of which $72 is included in Accrued expenses and other current liabilities and $68 is included in Accounts payable, and $128, which is included in Accounts payable on the condensed consolidated balance sheets, respectively.</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The ARTSA also provided for the participant companies to provide other services to each other. The Company also had transactions with other entities under common ownership, which included payments made to third parties on behalf of the Company. The amounts remaining payable at March 31, 2022 and December 31, 2021 were $0 and $17, respectively, and are included in the Accounts payable on the condensed consolidated balance sheets. In addition, the Company had transactions with these other entities under common ownership which included payments made by the Company to third parties on behalf of the other entities. The amounts remaining payable at March 31, 2022 and December 31, 2021 are in the aggregate $16 and $15, respectively, and are reflected in the Prepaid expenses and other current assets on the condensed consolidated balance sheets.</div> <div><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">On September 20, 2021, the Company entered into a Binders Collaboration (the “Collaboration”) with Protein Evolution, Inc. (“PEI”) to develop technology and methods in the field of nanobodies and potentially other binders to produce novel biological reagents and related data. The Collaboration is made pursuant to and governed by the Technology and Services Exchange Agreement, effective as of June 10, 2021, by and among the Company and the participants named therein, including PEI. Dr. Rothberg serves as Chairman of the Board of Directors of PEI and the Rothberg family are controlling stockholders of PEI. <span style="font-size: 10pt; font-family: 'Times New Roman';"><span style="font-size: 10pt; font-family: 'Times New Roman';">There was no amount payable at December 31, </span>2021<span style="font-size: 10pt; font-family: 'Times New Roman';">. </span>The amount payable at </span>March 31, 2022<span style="font-size: 10pt; font-family: 'Times New Roman';"> was $1,135 and is reflected in Accrued expenses and other current liabilities on the condensed consolidated balance sheets. </span>Effective March 31, 2022, the Collaboration with PEI was terminated. On May 5, 2022, the Company paid PEI $1,135 under the Collaboration. </div> <div><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Dr. Rothberg and the Company entered into an Executive Chairman Agreement as of June 10, 2021 (the “Executive Chairman Agreement”) in which Dr. Rothberg provides consulting services to the Company for $400 annually.  In addition to the Executive Chairman Agreement, Dr. Rothberg also receives fees as the Company’s Chairman of the Board of Directors and a member of the Nominating and Corporate Governance Committee. Quantum-Si paid $114 to Dr. Rothberg for the three months ended March 31, 2022 for the services that were provided to the Company.  Dr. Rothberg does not receive any additional compensation for serving as the Company’s Interim Chief Executive Officer.</div> 80000 80000 210000 535000 50000 38000 140000 72000 68000 128000 128000 0 17000 16000 15000 0 1135000 1135000 400000 114000 <div style="text-align: justify; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">14. COMMITMENTS AND CONTINGENCIES</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Commitments</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-style: italic; font-family: 'Times New Roman'; font-size: 10pt;">Licenses related to certain intellectual property:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company licenses certain intellectual property, some of which may be utilized in its future product offering. To preserve the right to use such intellectual property, the Company is required to make annual minimum fixed payments totaling $220. Once the Company commercializes its product and begins to generate revenues, there will be royalties payable by the Company based on the current anticipated utilization.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-style: italic; font-family: 'Times New Roman'; font-size: 10pt;">Other commitments:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company sponsors a 401(k) defined contribution plan covering all eligible U.S. employees. Contributions to the 401(k) plan are discretionary. The Company did not make any matching contributions to the 401(k) plan for the three months ended March 31, 2022 and 2021.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Contingencies</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company is subject to claims in the ordinary course of business; however, the Company is not currently a party to any pending or threatened litigation, the outcome of which would be expected to have a material adverse effect on its financial condition or the results of its operations. The Company accrues for contingent liabilities to the extent that the liability is probable and estimable.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company enters into agreements that contain indemnification provisions with other parties in the ordinary course of business, including business partners, investors, contractors, and the Company’s officers, directors and certain employees. The Company has agreed to indemnify and defend the indemnified party claims and related losses suffered or incurred by the indemnified party from actual or threatened third-party claims because of the Company’s activities or non-compliance with certain representations and warranties made by the Company. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in any particular case. To date, losses recorded in the Company’s condensed consolidated statements of operations and comprehensive loss in connection with the indemnification provisions have not been material.</div> 220000 0 0 <div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;"> <tr style="vertical-align: top;"> <td style="width: 18pt; vertical-align: top;"> <div style="text-align: justify; font-weight: bold;">15.</div> </td> <td style="width: auto; vertical-align: top; align: left;"> <div style="text-align: justify; font-weight: bold;">SUBSEQUENT EVENTS</div> </td> </tr> </table> </div> <div><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">In April 2022, the Company entered into a lease for a facility in Branford, Connecticut for a term of approximately 7 years. Future minimum lease payments under this lease are $1,156.</div> P7Y 1156000 Includes lease incentives that will be realized in 2022.