Equity (Tables)

6 Months Ended

Jun. 30, 2024

A summary of the activity related to the restricted share awards, is presented below:


	Total RSA's	Weighted-average grant date fair value
		$
Outstanding, December 31, 2022	—	—
Granted	8,855,452	1.25
Forfeited	—	—
Vested	(854,714)	1.25
Outstanding at June 30, 2023	8,000,738	1.25
Outstanding at December 31, 2023	9,098,767	1.09
Granted	2,136,000	0.30
Forfeited	—	—
Vested	(2,470,976)	1.05
Outstanding at June 30, 2024	8,763,791	0.90

A summary of warrants activity during the six months ended June 30, 2024 and 2023 is presented below:


	Weighted-average exercise price	Number of warrants	Weighted-average remaining life (in years)	Aggregate intrinsic value
	$			$’000
Outstanding, December 31, 2022	1.93	18,033,640	3.51	—
Granted	—	—	N/A	—
Exercised	—	—	N/A	—
Forfeited	—	—	N/A	—
Outstanding, June 30, 2023	1.93	18,033,640	3.01	—
Exercisable, June 30, 2023	1.93	18,033,640	3.01	—
Outstanding, December 31, 2023	1.97	17,379,890	2.61	—
Granted	—	—	N/A	—
Exercised	—	—	N/A	—
Forfeited	2.91	(1,358,143)	N/A	—
Outstanding, June 30, 2024	1.89	16,021,747	2.31	—
Exercisable, June 30, 2024	1.89	16,021,747	2.31	—

A summary of option activity is presented below:


	Weighted-average exercise price	Number of options	Weighted-average remaining life (in years)	Aggregate intrinsic value
	$			$’000
Outstanding, December 31, 2022	1.52	412,500	3.53	156
Granted	1.51	600,000	5.92	—
Exercised	—	—	N/A	—
Forfeited	—	—	N/A	—
Outstanding, June 30, 2023	1.51	1,012,500	4.75	244

Exercisable and vested, June 30, 2023	2.64	235,643	2.92	59
Outstanding, December 31, 2023	1.09	827,500	4.26	—
Granted	—	—	N/A	—
Exercised	—	—	N/A	—
Forfeited	1.51	(15,000)	N/A	—
Outstanding, June 30, 2024	1.09	812,500	3.67	—

Exercisable and vested, June 30, 2024	0.98	288,124	3.55	—

The Company has estimated the fair value of the options using the Black-Scholes model using the following assumptions: