CONVERTIBLE NOTE (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Summary of the convertible notes

The net carrying amount of the liability of the Notes as of March 31, 2024 and December 31, 2023 are as follows:

	March 31, 2024		December 31, 2023
	Unaudited		Audited
Liability component, net:
Principal amount	$	575,000	$	575,000
Unamortized issuance costs	(5,348)		(6,178)
Net carrying amount of liability component (1)	$	569,652	$	568,822

(1) An effective interest rate determines the fair value of the Notes, therefore they are categorized as Level 3 in accordance with ASC 820. The estimated fair value of the net carrying amount of liability component of the Notes as of March 31, 2024 and December 31, 2023 were $525,865 and $515,962, respectively.

Finance expense related to the Notes was as follows:

	Three months ended March 31,				Year ended December 31, 2023
	2024		2023
	Unaudited				Audited
Amortization of debt issuance costs	830		815		3,313
Total finance expense recognized	$	830	$	815	$	3,313