NET LOSS PER SHARE

12 Months Ended

Dec. 31, 2023

NET LOSS PER SHARE [Abstract]

NET LOSS PER SHARE

NOTE 19 - NET LOSS PER SHARE

Basic and diluted net loss per share for each of the year presented were calculated as follows:

	For the Years Ended December 31,
	2023			2022
Numerator:
Net loss attributable to the Company’s shareholders		(54,199,325	)		(110,088,241	)
Denominator:
Weighted average ordinary shares used in computing basic and diluted loss per share *		30,424,686			26,332,324
Basic and diluted net loss per share		(1.78	)		(4.18	)

* On September 1, 2023 the Company held its annual general meeting of shareholders where among other proposals, the shareholders of the Company did approve the consolidation of the ordinary shares of the Company on a one-for-ten (1:10) basis with effect from December 8, 2023. The one-for-ten reverse stock split decreased the number of outstanding shares and increased net loss per common share. All per share and share amounts presented have been retroactively adjusted for the effect of this share consolidation for all periods presented.

The Company incurred losses for the years ended December 31, 2023 and 2022, no potential ordinary shares were anti-dilutive and excluded from the calculation of diluted net loss per share of the Company.