Note 12: Supplemental Financial Statement Information

Accrued Expenses

The Company had the following current accrued liabilities as of March 31, 2022 and December 31, 2021 (in thousands):

__________________ 

Other Income (Expense), Net

Components of other income (expense), net, are summarized as follows (in thousands):

The gain (loss) on warrant revaluation is related to the change in fair value of outstanding warrants that were determined to be derivative liabilities attached to previously issued and converted convertible notes.

The foreign exchange gains and losses are due to foreign currency denominated transactions, including the foreign exchange loss on the investment in YFE’s equity securities accounted for under the fair value option.

The Company started investing in marketable securities during the year ended December 31, 2021. The net realized loss on marketable securities recognized during the three months ended March 31, 2022, reflects the loss in the investments in available-for-sale securities that will not be recovered due to prepayments of principals on certain mortgage-backed securities.

The gain on revaluation of the equity investment in YFE, is the change in fair value recognized on the Company’s investments in YFE accounted for using the fair value option. The gain is a result of the difference in the original cost of the YFE investments and the updated fair value based on YFE’s stock price at the end of the current reporting period.

Interest Income during the three months ended March 31, 2022, primarily consists of cash interest received of $0.5 million on the investments in marketable securities, net of $0.3 million for amortization of premiums.

The Warrant Incentive Expense is related to the fair value of new warrants that were issued in 2021 to certain existing warrant holders in exchange for previously issued outstanding warrants.