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v3.21.1

Warrants (Tables) | 12 Months Ended
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Dec. 31, 2020
Notes to Financial Statements |
Schedule of the outstanding warrants |
Warrants holder |  | Investor Warrants |  |  | Placement Agent Warrants |
Appraisal Date (Inception Date) |  | December 10, 2020 |  |  | December 10, 2020 |
Market price per share (USD/share) |  | $ | 5.36 |  |  | $ | 5.36 |
Exercise price (USD/price) |  |  | 6.46 |  |  |  | 6.475 |
Risk free rate |  |  | 0.2 | % |  |  | 0.2 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
Expected term/ Contractual life (years) |  |  | 3.0 years |  |  |  | 3.0 years |
Expected volatility |  |  | 211.5 | % |  |  | 211.5 | %
Appraisal Date |  | December 31, 2020 |  |  | December 31, 2020 |
Market price per share (USD/share) |  | $ | 5.06 |  |  | $ | 5.06 |
Exercise price (USD/price) |  |  | 6.46 |  |  |  | 6.475 |
Risk free rate |  |  | 0.2 | % |  |  | 0.2 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
Expected term/ Contractual life (years) |  |  | 2.9 years |  |  |  | 2.9 years |
Expected volatility |  |  | 187.6 | % |  |  | 187.6 | %
Schedule of warrants liability measured at fair value on a recurring basis using Level 3 inputs |
|  | Year ended December 31, 2019 |  |  | Year ended December 31, 2020 |
Balance at the beginning of the year |  | $ | - |  |  | $ | - |
Warrants issued to institution investors |  |  | - |  |  |  | 17,980,000 |
Warrants issued to placement agent |  |  | - |  |  |  | 1,875,000 |
Warrants redeemed |  |  | - |  |  |  | - |
Fair value change of the issued warrants included in earnings |  |  | - |  |  |  | (2,072,000 | )
Balance at end of year |  |  | - |  |  |  | 17,783,000 |
Schedule of the warrant activity |
|  | Number of Warrants |  |  | Average Exercise Price |  |  | Weighted Average Remaining Contractual Term in Years |
Outstanding at January 1, 2020 |  |  | - |  |  | $ | - |  |  |  |  |
Exercisable at January 1, 2020 |  |  | - |  |  | $ | - |  |  |  |  |
Granted |  |  | 4,175,512 |  |  |  | 6.46 |  |  |  | 3 |
Exercised / surrendered |  |  | - |  |  |  | - |  |  |  |  |
Expired |  |  | - |  |  |  | - |  |  |  |  |
Outstanding at December 31, 2020 |  |  | 4,175,512 |  |  | $ | 6.46 |  |  |  | 2.9 |
Exercisable at December 31, 2020 |  |  | 3,795,920 |  |  | $ | 6.46 |  |  |  | 2.9 |

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