Quarterly report pursuant to Section 13 or 15(d)

Fair Value Disclosures (Tables)

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Fair Value Disclosures (Tables)
3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of liabilities measured on recurring basis The following table provides information for liabilities measured at fair value on a recurring basis using Level 3 inputs:
March 31, 2024 December 31, 2023
Contingent Consideration:
Non-current $ 5,116,765  $ 5,128,959 
Total Contingent Consideration $ 5,116,765  $ 5,128,959 
Schedule of unobservable Level 3 inputs After the initial valuation, the Company generally uses its best estimate to measure contingent consideration at each subsequent reporting period using the following unobservable Level 3 inputs:
Valuation Technique Unobservable Inputs March 31, 2024 December 31, 2023
Discounted cash flow Payment discount rate 14.5  % 13.1  %
Bayon Payment period 2025 - 2027 2025 - 2027
Panoptes Payment period 2026 - 2028 2026 - 2028
Jade Payment period 2027 2027
Bayon Probability of success for payment
42% - 71%
42% - 71%
Panoptes Probability of success for payment
30% - 33%
30% - 33%
Jade Probability of success for payment 56% 56%
The Company engaged a third-party valuation firm to complete a quantitative assessment of in-process R&D as of August 31, 2023, which includes the following unobservable Level 3 inputs:
Valuation Technique Unobservable Inputs Discount Rate
KIO-101 Relief from Royalty Method Probability of success for next development phase 17% 30  %
KIO-104 Multi-Period Excess Earnings Method Probability of success for next development phase
17% to 18%
25  %
KIO-201 Relief from Royalty Method Probability of success for next development phase
17% to 47%
30  %
KIO-301 Multi-Period Excess Earnings Method Probability of success for next development phase
17% to 67%
25  %