Convertible Promissory Notes |
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Convertible Promissory Notes | 11. Convertible Promissory Notes Interest amounting to $10 was accrued for the six months ended June 30, 2024 (June 30, 2023: $9). Principal amount outstanding as of June 30, 2024 and December 31, 2023 was $480. At both reporting dates, the entire balance was current. All notes maturing prior to the date of this report are outstanding. Derivative liability During the six months ended June 30, 2024, there were no conversion of principal balance of convertible promissory notes (June 30, 2023: $nil). The Company recorded and fair valued the derivative liability as follows:
Key assumptions used for the valuation of convertible notes Derivative element of the convertible notes was fair valued using a multinomial lattice model. Following assumptions were used to fair value these notes as of June 30, 2024:
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