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TERM LOAN (Tables)

12 Months Ended

Dec. 31, 2023

TERM LOAN

Schedule of assumptions used for measuring fair value of warrants

​

​	​	​	​	​
As of August 3, 2022		Warrants		Options
Expected dividend yield		0%		0%
Expected forfeiture rate	​	0%		0%
Share price of last financing		$0.48		$0.48
Expected share price volatility		64.91% -113.22%		133.15% - 143.3%
Risk free interest rate		3.18%		2.85% - 3.08%
Remaining life of warrants & options		–.03 - 2 years		2.56 – 4.23 years

Schedule of term loan

​

​	​	​
​		$
Principal amount of the Term Loan		15,000,000
Fair value of the attached warrants		(1,435,350)
Term Loan at fair value on issuance, June 28, 2023		13,564,650
Transaction costs		(787,175)
Accretion of warrant value and transaction costs		631,540
Fair value of loan as of December 14, 2023		13,409,015
Additional principal amount of loan on Dec 14, 2023		5,882,353
Loan issue discount		(882,353)
Fair value of the attached warrants		(275,961)
Transaction fee for modification		(219,212)
Fair value of modified loan as of December 14, 2023		17,913,842
Accretion of warrant value and transaction costs		42,581
​		17,956,423

Non-Transferable Warrants

TERM LOAN

Schedule of assumptions used for measuring fair value of warrants

​

​	​	​	​	​	​	​	​
​		June 28, 2023			December 14, 2023
Expected dividend yield		​	0	%	​	0	%
Stock price	​	$	1.35	​	$	1.14	​
Expected share price volatility	​		92.06	%		63.54	%
Risk free interest rate	​		4.13	%		3.73	%
Expected life of warrant	​		3	years		2.54	years

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