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Warrants (Tables) | 6 Months Ended
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Jun. 30, 2021
Warrants Disclosure [Abstract] |
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 |  |  |  | 3.5 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 |  |  |  | 3.4 years |
Expected volatility |  |  | 187.6 | % |  |  | 187.6 | %
Appraisal Date |  | June 30, 2021 |  |  | June 30, 2021 |
Market price per share (USD/share) |  | $ | 4.71 |  |  | $ | 4.71 |
Exercise price (USD/price) |  |  | 6.46 |  |  |  | 6.475 |
Risk free rate |  |  | 0.3 | % |  |  | 0.5 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
Expected term/ Contractual life (years) |  |  | 2.44 years |  |  |  | 2.94 years |
Expected volatility |  |  | 132.3 | % |  |  | 130.1 | %
Schedule of warrants issued |
Warrants holder |  | Investor Warrants |  |  | Placement Agent Warrants |
Appraisal Date (Inception Date) |  | Series A1 February 10, 2021 |  |  | Series A2 February 10, 2021 |  |  | Series B February 10, 2021 |  |  | February 10, 2021 |
Market price per share (USD/share) |  | $ | 7.36 |  |  | $ | 7.36 |  |  | $ | 7.36 |  |  | $ | 7.36 |
Exercise price (USD/price) |  |  | 7.67 |  |  |  | 7.67 |  |  |  | 7.83 |  |  |  | 9.204 |
Risk free rate |  |  | 0.2 | % |  |  | 0.3 | % |  |  | 0.0 | % |  |  | 0.2 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | %
Expected term/ Contractual life (years) |  |  | 3.5 years |  |  |  | 3.8 years |  |  |  | 0.3 years |  |  |  | 3.5 years |
Expected volatility |  |  | 121.8 | % |  |  | 119.5 | % |  |  | 214.5 | % |  |  | 121.8 | %
Warrants holder |  | Investor Warrants |  |  | Placement Agent Warrants |
Appraisal Date |  | Series A1 June 30, 2021 |  |  | Series A2 June 30, 2021 |  |  | Series B June 30, 2021 |  |  | June 30, 2021 |
Market price per share (USD/share) |  | $ | 4.71 |  |  |  | 4.71 |  |  |  | 4.71 |  |  |  | 4.71 |
Exercise price (USD/price) |  |  | 7.67 |  |  |  | 7.67 |  |  |  | 7.83 |  |  |  | 9.204 |
Risk free rate |  |  | 0.5 | % |  |  | 0.5 | % |  |  | 0.0 | % |  |  | 0.5 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | %
Expected term/ Contractual life (years) |  |  | 3.11 years |  |  |  | 3.36 years |  |  |  | 0.17 years |  |  |  | 3.11 years |
Expected volatility |  |  | 127.1 | % |  |  | 123.3 | % |  |  | 57.5 | % |  |  | 127.1 | %
Schedule of warrants liability measured at fair value on a recurring basis using Level 3 inputs |
|  | December 31, 2020 |  |  | June 30, 2021 |
Balance at the beginning of period |  | $ | - |  |  | $ | 17,783,000 |
Warrants issued to institution investors |  |  | 17,980,000 |  |  |  | 47,519,000 |
Warrants issued to placement agent |  |  | 1,875,000 |  |  |  | 2,346,000 |
Warrants redeemed |  |  | - |  |  |  | - |
Fair value change of warrants included in earnings |  |  | (2,072,000 | ) |  |  | (34,176,000 | )
|  | $ | 17,783,000 |  |  | $ | 33,472,000 |
Schedule of the warrant activity |
|  | Number of Warrants |  |  | Average Exercise Price |  |  | Weighted Average Remaining Contractual Term in Years |
Outstanding at January 1, 2021 |  |  | 4,175,512 |  |  | $ | 6.46 |  |  |  | 3.0 |
Exercisable at January 1, 2021 |  |  | 3,795,920 |  |  | $ | 6.46 |  |  |  | 2.9 |
Granted |  |  | 11,621,967 |  |  |  | 7.79 |  |  |  | 2.3 |
Exercised / surrendered |  |  | - |  |  |  | - |  |  |  |  |
Expired |  |  | - |  |  |  | - |  |  |  |  |
Outstanding at June 30, 2021 |  |  | 15,797,479 |  |  |  | 7.44 |  |  |  | 2.15 |
Exercisable at June 30, 2021 |  |  | 15,350,480 |  |  |  | 7.39 |  |  |  | 2.12 |

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