Quarterly report pursuant to Section 13 or 15(d)

Investments

v3.22.2.2
Investments
9 Months Ended
Sep. 30, 2022
Investments  
Investments

6.Investments

The Company’s investments included the following:

Investment

    

September 30, 2022

    

December 31, 2021

Investment in HERBL, Inc.

$

6,400

$

6,400

Investment in Big Toe Ventures LLC

196

Investment in Akerna

5

102

Total Investments

$

6,405

$

6,698

The Company recorded the investments in HERBL, Inc. and Big Toe Ventures LLC (“Big Toe”) in accordance with a measurement alternative due to the lack of readily determinable fair values. The measurement alternative allows the Company to record the investments at cost, less impairment, if any, and subsequently adjust for observable price changes of identical or similar investments of the same issuer. The Company has not applied impairment or price adjustments to the original cost through September 30, 2022.

During the three months ended September 30, 2022, the Company recorded an unrealized loss on investment of $198, of which $196 was related to Big Toe and $2 was related to Akerna Corp. (“Akerna”). During the three months ended September 30, 2021, the Company recorded an unrealized loss of $71 from the investment in Akerna. During the nine months ended September 30, 2022, the Company recorded an unrealized loss on investment of $292, of which $196 was related to Big Toe and $96 was related to Akerna. During the nine months ended September 30, 2021, the Company recorded an unrealized loss of $829, of which $804 was related to Big Toe and $25 was related to Akerna. This loss is included in unrealized loss on investment in the condensed consolidated statements of operations and comprehensive loss.