QSAM Biosciences, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Liabilities Measured at Fair Value

The following tables set forth the Company’s consolidated financial assets and liabilities measured at fair value by level within the fair value hierarchy at December 31, 2020 and 2019. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

	Fair value at
	December 31, 2020		Level 1		Level 2		Level 3
Convertible Bridge Notes	$	3,598,000	$	-	$	-	$
Total	$	3,598,000	$	-	$	-	$

	Fair value at
	December 31, 2019		Level 1		Level 2		Level 3
Convertible Bridge Notes	$	2,473,000	$	-	$	-	$	2,473,000
Total	$	2,473,000	$	-	$	-	$	2,473,000

Schedule of Reconciliation of Level 3 Conversion Option Liability

The following tables present a reconciliation of the beginning and ending balances of items measured at fair value on a recurring basis that use significant unobservable inputs (Level 3) and the related realized and unrealized gains (losses) recorded in the consolidated statement of operations during the periods.

	Year Ended December 31, 2020
Fair value, December 31, 2019	$	2,473,000
Accrued interest		485,336
Conversions of debt and accrued interest to shares of common stock		(2,530,572	)
Amortization of debt issuance costs		-
Net unrealized loss on convertible bridge notes		3,170,236
Fair value, December 31, 2020	$	3,598,000

	Year Ended December 31, 2019
Fair value, December 31, 2018	$	2,960,000
Issuances of debt		30,000
Accrued interest		535,877
Amortization of debt issuance costs		5,000
Net unrealized gain on convertible bridge notes		(1,057,877	)
Fair value, December 31, 2019	$	2,473,000