Rumble Inc
For the period ended Dec 31, 2023. Filed Mar 27, 2024.
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FY2023 · Filed Mar 27, 2024
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17. Fair Value Measurements
| 17. | Fair Value Measurements |
The following table summarizes the liabilities measured at fair value on a recurring basis:
| Level 1 · Level 2 · Level 3 | ||||
|---|---|---|---|---|
| Warrant Liability · Marketable Securities · Contingent Consideration | ||||
| December 31, 2022 | $10,062,500 | $1,100,000 | $ | - |
| Recognized in the Callin acquisition | - | - | 3,491,741 | |
| Change in fair value | (2,365,895) | 35,200 | (1,922,381) | |
| December 31, 2023 | $7,696,605 | $1,135,200 | $1,569,360 | |
| Level 1 · Level 2 · Level 3 | ||||
|---|---|---|---|---|
| Warrant Liability · Marketable Securities · Contingent Consideration | ||||
| December 31, 2021 · $ · - · $ · - · $ · - | ||||
| Issued term deposits | - | 1,100,000 | - | |
| Issued in the Qualifying Transaction | 31,073,000 | - | - | |
| Change in fair value | (21,010,500) | - | - | |
| December 31, 2022 | $10,062,500 | $1,100,000 | $ | - |
Warrant liability
Warrant liability consists of warrants issued by the Company in public offerings, private placements, and forward purchase contracts. As of December 31, 2023, the number of warrants outstanding and weighted-average exercise price were 8,050,000 warrants and $11.50, respectively (December 31, 2022 –8,050,000 and $11.50). The warrants are exercisable and will expire on September 16, 2027, or earlier upon redemption or liquidation. All warrants are publicly traded.
Contingent consideration
The contingent consideration liability arose during the year from the Callin acquisition, refer to Note 3 for additional details. The decrease in fair value during the year is attributable to changes in the Company’s stock price.
Rumble Inc.
Notes to the Consolidated Financial Statements
(Expressed in U.S. Dollars)
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