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v3.24.2

TERM LOAN (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
TERM LOAN |
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
Term Loan balance, December 31, 2023 | ​ | 17,956,423
Accrued interest | ​ | 519,206
Accretion of warrant value and transaction costs | ​ | 240,904
Interest paid | ​ | (519,206)
Term Loan balance, March 31, 2024 | ​ | 18,197,327
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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