RELATED PARTY TRANSACTIONS |
3 Months Ended |
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Mar. 31, 2023 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS All related party transactions are monitored quarterly by the Company and approved by the Audit Committee of the Company's board of directors.
During the three months ended March 31, 2023, the Company incurred a total of $0.45 million in fees pursuant to the engagement letter (the "Engagement") dated August 12, 2022 for executive level consulting and related business support services. In accordance with the Engagement, the Company issued 16,181,230 shares of the Company's common stock under the performance bonus award valued at $0.36 million the three months ended March 31, 2023.
During the three months ended March 31, 2023, a member of the Company's board of directors forfeited 1,500,000 shares of the Company's common stock to the Company for no cash value.
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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