v3.23.2
Stockholders’ Permanent and Temporary Equity (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Equity [Abstract]    
Schedule of Stock Options Granted

The grant date fair value of stock options granted during the three months ended March 31, 2023 and 2022 was determined using the Black Scholes method, with the following assumptions used:

 

   Successor   Predecessor 
   Successor   Predecessor 
   For the Three   For the Three 
   Months Ended   Months Ended 
   March 31,   March 31, 
   2023   2022 
Fair value of common stock on date of grant   $2.11 - $2.23   $3.00 
Risk free interest rate   3.53% - 4.27%    1.68% - 2.42% 
Expected term (years)   6.00    3.53 - 6.00 
Expected volatility   120% - 122%    111% - 119% 
Expected dividends   0.00%   0.00%

In applying the Black-Scholes option pricing model to Predecessor stock options granted, the Company used the following assumptions:

 

  Successor  Predecessor   Predecessor 
  Successor  Predecessor 
   For the period  For the period   For the year 
   December 13 through  January 1 through   ended 
   December 31, 2022  December 12, 2022   December 31, 2021 
Fair value of common stock on date of grant   n/a    $2.27 - $3.00    $3.25 
Risk free interest rate   n/a    1.68% - 3.01%    0.66% - 1.26%
Expected term (years)   n/a    3.53 - 6.00      5.00 - 6.00  
Expected volatility   n/a    111% - 119%    118% - 125%
Expected dividends   n/a   0.00%   0.00%
Schedule of Stock Option Activity

A summary of the option activity for the three months ended March 31, 2023 is presented below:

 

           Weighted     
       Weighted   Average     
       Average   Remaining   Aggregate 
   Number of   Exercise   Life   Intrinsic 
   Options   Price   In Years   Value 
                 
Outstanding, January 1, 2023   1,993,235   $10.81           
Granted   113,000    2.13           
Exercised   -    -           
Forfeited   -    -           
Outstanding, March 31, 2023   2,106,235   $10.35    5.6   $- 
                     
Exercisable, March 31, 2023   1,783,531   $10.18    5.3   $- 

A summary of the option activity for the period December 13, 2022 through December 31, 2022 for the Successor and the period ended December 12, 2022 for the Predecessor is presented below:

 

 

Successor 

Number of

Options

  

Weighted

Average

Exercise

Price

  

Weighted

Average

Remaining

Life

In Years

  

Aggregate

Intrinsic

Value

 
                 
Outstanding, December 13, 2022   1,993,235   $10.81                       
Granted   -    -           
Exercised   -    -           
Forfeited   -    -           
Outstanding, December 31, 2022   1,993,235   $10.81    5.8   $- 
                     
Exercisable, December 31, 2022   1,639,566   $9.63    5.3   $- 

 

Predecessor 

Number of

Options

  

Weighted

Average

Exercise

Price

  

Weighted

Average

Remaining

Life

In Years

  

Aggregate

Intrinsic

Value

 
                 
Outstanding, January 1, 2022   8,755,179   $2.00           
Granted   1,284,169    3.17           
Exercised   -    -           
Forfeited   -    -           
Outstanding, December 12, 2022   10,039,348   $2.15    5.9   $3,271,992 
                     
Exercisable, December 12, 2022   8,258,023   $1.91    5.3   $3,271,992 
Schedule of Information Related to Stock Options

The following table presents information related to stock options as of March 31, 2023:

 

Options Outstanding   Options Exercisable 
        Weighted     
    Outstanding   Average   Exercisable 
Exercise   Number of   Remaining Life   Number of 
Price   Options   In Years   Options 
$2.11    100,000    -    - 
$2.26    13,000    -    - 
$5.03    662,887    2.8    662,887 
$11.33    12,186    9.3    12,186 
$11.58    728,430    6.0    723,576 
$16.36    589,732    8.1    384,882 
      2,106,235    5.3    1,783,531 

The following table presents information related to stock options as of December 31, 2022:

 

Successor 
Options Outstanding   Options Exercisable 
    Outstanding   Weighted Average   Exercisable 
Exercise   Number of   Remaining Life   Number of 
Price   Options   In Years   Options 
$5.03    662,887    3.1    662,887 
$11.33    12,186    9.5    12,186 
$11.58    728,430    6.3    723,576 
$16.36    589,732    8.3    240,917 
      1,993,235    5.3    1,639,566 
Summary of Warrant Activity  

A summary of the warrant activity for the period December 13, 2022 through December 31, 2022 for the Successor and the period ending December 12, 2022 for the Predecessor is presented below:

 

           Weighted     
       Weighted   Average     
       Average   Remaining   Aggregate 
   Number of   Exercise   Life   Intrinsic 
Successor  Warrants   Price   In Years   Value 
                 
Outstanding, December 13, 2022   8,628,706   $10.75                            
Issued   -    -           
Outstanding, December 31, 2022   8,628,706   $10.75    4.8   $- 
                     
Exercisable, December 31, 2022   8,558,904   $10.79    4.8   $- 

 

           Weighted     
       Weighted   Average     
       Average   Remaining   Aggregate 
   Number of   Exercise   Life   Intrinsic 
Predecessor  Warrants   Price   In Years   Value 
                 
Outstanding, January 1, 2022   2,154,352   $1.98           
Issued   6,406,210    1.37           
Exercised   -    -           
Outstanding, December 12, 2022   8,560,562   $1.52    1.8   $59,681 
                     
Exercisable, December 12, 2022   8,560,562   $1.55    3.9   $34,203 
Schedule of Information Related to Stock Warrants  

The following table presents information related to stock warrants as of December 31, 2022 for the Successor:

 

Successor 
Warrants Outstanding   Warrants Exercisable 
Exercise   Outstanding   Weighted Average   Exercisable Number of 
Price   Number of   Remaining Life   Warrants 
$5.03    104,704    2.0    34,901 
$6.90    1,271,904    4.9    1,271,904 
$11.50    6,929,073    4.9    6,929,073 
$11.58    323,026    1.0    323,026 
      8,628,706    4.8    8,558,904