Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENT

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FAIR VALUE MEASUREMENT
3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENT FAIR VALUE MEASUREMENT
The carrying values of the Company’s cash and cash equivalents, trade receivables and accounts payable approximate fair value due to their short maturities.
The following tables present the financial assets not measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021:
March 31, 2022
Carrying Value Estimated Fair Value Fair Value Hierarchy Financial Statement Line Item
Financial assets:
Notes receivable - current $ 72  $ 72  Level 3 Receivables
Notes receivable - non-current 1,250  1,250  Level 3 Other long-term assets
Prepaid expenses - non-current 8,000  8,000  Level 3 Other long-term assets
Total financial assets $ 9,322  $ 9,322 
December 31, 2021
Carrying Value Estimated Fair Value Fair Value Hierarchy Financial Statement Line Item
Financial assets:
Notes receivable - current $ $ Level 3 Receivables
Notes receivable - non-current $ 3,391  $ 3,391  Level 3 Other long-term assets
Prepaid expenses - non-current $ 8,000  $ 8,000  Level 3 Other long-term assets
Total financial assets $ 11,399  $ 11,399 
The notes receivable are fixed-rate investments, are not traded and do not have observable market inputs, therefore, the fair value is estimated to be equal to the carrying value. The advance payment is not a traded asset and does not have observable market inputs, therefore, the fair value is estimated to be equal to the carrying value.
The following tables present the liabilities measured at fair value on a recurring basis, by input level, in the Consolidated Balance Sheets at March 31, 2022 and December 31, 2021:
March 31, 2022
Level 1 Level 2 Level 3 Total
Financial liabilities:
Public Warrants $ 6,027  —  —  6,027 
Private Warrants —  3,210  —  3,210 
Total financial liabilities $ 6,027  $ 3,210  $ —  $ 9,237 
December 31, 2021
Level 1 Level 2 Level 3 Total
Financial liabilities:
Public Warrants $ 4,255  —  —  4,255 
Private Warrants —  2,266  —  2,266 
Total financial liabilities $ 4,255  $ 2,266  $ —  $ 6,521