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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The components of income or loss before income tax were as follows:
|  | Year Ended December 31, 2023 |  | Year Ended December 31, 2022
Switzerland |  | $ | (43,469,946) |  | $ | (62,115,251)
Foreign |  | (514,783) |  |  | (2,354,434) |
Total |  | $ | (43,984,729) |  | $ | (64,469,685)
Schedule of Effective Income Tax Rate Reconciliation | The provision for income taxes differs from the amount computed by applying the statutory income tax rate to loss before income taxes as follows:
|  | Year Ended December 31, 2023 |  | Year Ended December 31, 2022
Statutory income tax rate |  | 11.8% |  | 11.9%
Effect of income taxed at different rates |  | (0.4) | % |  | — | %
Change in prior year estimates |  | (0.5) | % |  | 0.1 | %
Utilization of unrecognized losses |  | 0.6 | % |  | — | %
Change in valuation allowance |  | 0.5 | % |  | (10.0) | %
Non-deductible expense |  | (12.3) | % |  | (1.4) | %
Other |  | — | % |  | (0.5) | %
Effective income tax rate |  | (0.3)% |  | 0.1%
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets (liabilities) were:
|  | December 31, 2023 |  | December 31, 2022
Intangible assets |  | $ | 4,493,559 |  | $ | 4,492,435
Defined benefit plan |  | 69,173 |  |  | 33,451 |
Lease liabilities |  | 56,527 |  |  | — |
Net operating loss carry forward |  | 6,715,534 |  |  | 7,210,383 |
Total deferred tax assets |  | 11,334,793 |  |  | 11,736,269 |
Operating lease right-of-use assets |  | (55,862) |  |  | —
Total deferred tax liabilities |  | (55,862) |  |  | —
Total deferred tax assets (net) |  | 11,278,931 |  |  | 11,736,269
Valuation allowance |  | (11,278,931) |  |  | (11,736,269) |
Total deferred tax (net) |  | $ | — |  | $ | —

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
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