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Warrant derivative liabilities (Tables)
12 Months Ended
Dec. 31, 2022
Summary of changes in warrant derivative liability

The following table summarizes the changes in the warrant derivative liability during the twelve-month period to December 31, 2022:

  

   Embedded derivative 
   £ 
     
Balance at December 31, 2021   - 
Fair value of warrants issued in the period   20,872,152 
Fair value adjustment   (14,851,289)
Balance at December 31, 2022   6,020,863 
Schedule of valuation assumption on warrants derivative

The model inputs were as follows:

 

   February 10, 2022   December 31, 2022 
Exercise price in USD  $212.50   $212.50 
Share price in USD  $100.00   $3.85 
Time to maturity   6 years    5.1 years 
Expected volatility   80%   90%
Risk free interest rate (US treasury bond)   1.99%   4.00%
Dividend yield   -      

 

   November 30, 2022   December 31, 2022 
Exercise price in USD  $5.00   $5.00
Share price in USD  $4.71   $3.85 
Time to maturity   5.5 years    5.4 years 
Expected volatility   90%   85%
Risk free interest rate (US treasury bond)   3.8%   3.9%
Dividend yield   -    - 
 

 

   November 30, 2022   December 31, 2022 
Exercise price in USD  $5.00   $5.00
Share price in USD  $4.71   $3.85 
Time to maturity   2.5 years    2.4 years 
Expected volatility   90%   90%
Risk free interest rate (US treasury bond)   4.21%   4.3%
Dividend yield   -    - 
 

 

   November 30, 2022   December 31, 2022 
Exercise price in USD  $6.25   $5.00
Share price in USD  $4.71   $3.85 
Time to maturity   5.5 years    5.4 years 
Expected volatility   90%   90%
Risk free interest rate (US treasury bond)   3.9%   4.0%
Dividend yield   -    -