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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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