XML 87 R64.htm IDEA: XBRL DOCUMENT v3.24.0.1
Warrants (Tables)
12 Months Ended
Dec. 31, 2023
Warrants [Abstract]  
Schedule of Warrants Issued The fair value of the outstanding warrants was calculated using Binomial Model based on backward induction with the following assumptions:
Warrants holder  Investor
Warrants
   Placement
Agent
Warrants
 
Appraisal Date  December 31,
2022
   December 31,
2022
 
Market price per share (USD/share)  $0.99   $0.99 
Exercise price (USD/price)   6.46    6.475 
Risk free rate   4.7%   4.6%
Dividend yield   0.0%   0.0%
Expected term/ Contractual life (years)   0.9 years    1.4 years 
Expected volatility   75.6%   82.7%
Appraisal Date  December 31,
2023
   December 31,
2023
 
Market price per share (USD/share)  $n/a   $1.05 
Exercise price (USD/price)   n/a    6.475 
Risk free rate   n/a    5.3%
Dividend yield   n/a    0%
Expected term/ Contractual life (years)   n/a    0.4 year 
Expected volatility   n/a    53.90%

 

Warrants holder  Investor
Warrants
   Placement
Agent
 
Appraisal Date  Series A1
December 31,
2022
   Warrants
December 31,
2022
 
Market price per share (USD/share)   0.99    0.99 
Exercise price (USD/price)   7.67    9.204 
Risk free rate   4.5%   4.5%
Dividend yield   0%   0%
Expected term/ Contractual life (years)   1.6 years    1.6 years 
Expected volatility   80.4%   80.4%
Appraisal Date  December 31,
2023
   December 31,
2023
 
Market price per share (USD/share)   1.05    1.05 
Exercise price (USD/price)   7.67    9.204 
Risk free rate   5.1%   5.1%
Dividend yield   0%   0%
Expected term/ Contractual life (years)   0.6 year    0.6 year 
Expected volatility   63.00%   63.00%
Schedule of the Warrants Liability Measured at Fair Value on a Recurring Basis The following is a reconciliation of the beginning and ending balances of warrants liability measured at fair value on a recurring basis using Level 3 inputs:
   Year ended
December 31,
2022
   Year ended
December 31,
2023
 
Balance at the beginning of the year  $5,846,000   $136,000 
Warrants issued to institution investors   
-
    
-
 
Warrants issued to placement agent   
-
    
-
 
Warrants redeemed   
-
    
-
 
Fair value change of the issued warrants included in earnings   (5,710,000)   (136,000)
Balance at end of year   136,000    
-
 
Schedule of Warrant Activity The following is a summary of the warrant activity:
   Number of
Warrants
   Average
Exercise
Price
   Weighted 
Average
Remaining
Contractual Term
in Years
 
Outstanding at January 1, 2023   9,092,499   $7.19    1.33 
Exercisable at January 1, 2023   9,092,499   $7.19    1.33 
Granted   
-
    
-
    
-
 
Exercised / surrendered   
-
    
-
    
-
 
Expired   (3,795,920)   6.460    
-
 
Outstanding at December 31, 2023   5,296,579    7.71    0.60 
Exercisable at December 31, 2023   5,296,579    7.71    0.60