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CONVERTIBLE LOANS AND WARRANTS
6 Months Ended
Jun. 30, 2023
Convertible Loans And Warrants  
CONVERTIBLE LOANS AND WARRANTS

NOTE 4 - CONVERTIBLE LOANS AND WARRANTS

 

The following table summarizes fair value measurements by level as of June 30, 2023 and December 31, 2022 measured at fair value on a recurring basis:

 

December 31, 2022  Level 1   Level 2   Level 3   Total 
   In U.S. dollars in thousands 
Assets                    
None   -    -    -    - 
                     
Liabilities                    
Convertible Loans   -    -    2,257    2,257 
Warrants        -    24    24 

 

June 30, 2023  Level 1   Level 2   Level 3   Total 
   In U.S. dollars in thousands 
Assets                    
None   -    -    -    - 
                     
Liabilities                    
Convertible Loans   -    -    1,687    1,687 
Warrants        -    231    231 

 

The Convertible Loans changes consist of the following as of June 30, 2023 and December 31, 2022:

 

   June 30, 2023   December 31, 2022 
   Convertible Loans at Fair Value 
   June 30, 2023   December 31, 2022 
   $000 
Opening Balance   2,257    2,492 
Additional convertible loans (a)   153    526 
Repayment of convertible loan (b)   -    (18)
Conversion of convertible loan (c)   (243)   - 
Change in fair value of convertible loans liability   (480)   (743)
Closing balance   1,687    2,257 

 

(a)During the six months ended June 30, 2023, and the year ended December 31, 2022, the Company received a principal amount of $152,750 and $526,826 respectively. The amount received during the period  is convertible at a price equal 65% of the lowest trading price during the (10) days prior to the conversion date, with 35% discount.

 

(b)During the six months ended June 30, 2023, and the year ended December 31, 2022, the Company repaid nill and $17,500, respectively.

 

(c)During the six months ended June 30, 2023, and the year ended December 31, 2022, a total amount of $242,538 and $0 respectively, were converted into 19,390,359    shares of common stock.

 

 

APPYEA INC.

NOTES TO THE FINANCIAL STATEMENTS

 

NOTE 4 - CONVERTIBLE LOANS AND WARRANTS (cont.)

 

The estimated fair values of the Convertible loans were measured according to the Monte Carlo Model using the following assumptions:

 

   As of June 30,   As of December 31, 
   2023   2022 
Expected term (in years)   1-1.5    0.5 
Expected average (Monte Carlo) volatility   171%   169%
Expected dividend yield   -    - 
Risk-free interest rate   5.2%-5.4%   4.8%
WACC   30%   30%

 

The following table summarizes information relating to outstanding and exercisable warrants as of December 31, 2022:

 

Warrants Outstanding and Exercisable     
Number of   Weighted Average Remaining Contractual life   Weighted Average   Valuation as of 
Warrants   (in years)   Exercise Price   December 31, 2022 
 300,000    2.9    0.043   $11,351 
 300,000    3.35    0.043   $11,679 
 8,334    2.9    0.6   $230 
 32,500    3.35    0.6   $992 

 

The following table summarizes information relating to outstanding and exercisable warrants as of June 30, 2023:

 

Warrants Outstanding and Exercisable     
Number of   Weighted Average Remaining Contractual life   Weighted Average   Valuation as of 
Warrants   (in years)   Exercise Price   June 30, 2023 
 300,000    2.41    0.022   $1,794 
 300,000    2.86    0.022   $1,955 
 8,334    2.41    0.6   $23 
 32,500    2.86    0.6   $116 
 7,000,000*   1.00    0.04   $227,014 

 

During the quarter the company issued a new warrant to an Additional Third Party Note holder. See Note 6-H.

 

 

APPYEA INC.

NOTES TO THE FINANCIAL STATEMENTS

 

NOTE 4 - CONVERTIBLE LOANS AND WARRANTS (cont.)

 

The estimated fair values of the Warrants were measured according to the data as follows:

 

   As of June 30,   As of December 31, 
   2023   2022 
Expected term   2.41-2.86    2.9-3.35 
Expected average volatility   172.17%-174%   179%
Expected dividend yield   -    - 
Risk-free interest rate   4.54%-4.74%   4.09%-4.15%
Common Stock Market Value  $0.009   $0.043