INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

INCOME TAXES

Schedule of deferred tax assets and liabilities

	As of	As of
	December 31, 2022	December 31, 2021
	(in thousands USD)	(in thousands USD)
Deferred tax asset:
Net operating loss carry forward	6,120	2,500
Share Compensation	969	510
Research and Development credits	52	26
Accruals and reserves	1,432	435
Total deferred tax assets	8,573	3,471
Valuation allowance	(8,573)	(3,471)
Deferred tax assets recognized	—	—

Summary of reconciliation of allowances

	As of	As of
	December 31, 2022	December 31, 2021
	(in thousands USD)	(in thousands USD)
Balance at beginning of the year	3,471	10
Additions to valuation allowance	5,102	3,461
Release of valuation allowance	—	—
Balance at end of the year	8,573	3,471