Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.21.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The Company’s assets and liabilities measured at fair value on a recurring consisted of the following as of the Acquisition Date of May 26, 2021, and June 30, 2021:

Fair value measured at May 26, 2021

Total carrying value at

May 26, 2021

Quoted prices in active

markets

(Level 1)

Significant other

observable inputs

(Level 2)

Significant

unobservable inputs

(Level 3)

Derivative asset

$

13,967

$

-

$

-

$

13,967

Contingent consideration liability

$

82,953

$

-

$

-

$

82,953

 

Fair value measured at June 30, 2021

Total carrying value at

June 30, 2021

Quoted prices in active

markets

(Level 1)

Significant other

observable inputs

(Level 2)

Significant

unobservable inputs

(Level 3)

Derivative asset

$

30,360

$

-

$

-

$

30,360

Contingent consideration liability

$

83,138

$

-

$

-

$

83,138

Schedule of Changes in Estimated Fair Value of Derivative Asset

The following table presents the changes in the estimated fair value of the derivative asset measured using significant unobservable inputs (Level 3) for the six months ended June 30, 2021:

Derivative Asset

Balance as of January 1, 2021

$

-

Acquisition of Whinstone

13,967

Change in fair value of derivative asset

16,393

Balance as of June 30, 2021

$

30,360

Schedule of Changes in Estimated Fair Value of Liability

The following table presents the changes in the estimated fair value of our liability for contingent consideration measured using significant unobservable inputs (Level 3) for the six months ended June 30, 2021:

Contingent

Consideration Liability

Balance as of January 1, 2021

$

-

Acquisition of Whinstone

82,953

Change in fair value of contingent consideration

185

Balance as of June 30, 2021

$

83,138