Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.21.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]  
Summary of Accounting Standards Update
As a result of applying the modified retrospective method to adopt ASU 2020-06, adjustments were made to the consolidated balance sheets as of December 31, 2020 and the below illustrates how the notes payable, APIC, and accumulated deficit balances would be effected as of January 1, 2021 (in thousands, as adjusted to show the effect of the reverse recapitalization as described in Note 1):
December 31, 2020 January 1, 2021
As reported Adjustments As adjusted
Notes payable $ 26,599  $ 30,638  $ 57,237 
APIC 192,381  (31,075) 161,306 
Accumulated deficit $ 84,563  $ 437  $ 85,000