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Warrants (Tables) | 6 Months Ended | 9 Months Ended
--- | --- | ---
Jun. 30, 2021 | Sep. 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 |  | September 30, 2021 |  |  | September 30, 2021 |
Market price per share (USD/share) |  | $ | 2.33 |  |  | $ | 2.33 |
Exercise price (USD/price) |  |  | 6.46 |  |  |  | 6.475 |
Risk free rate |  |  | 0.3 | % |  |  | 0.4 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
Expected term/ Contractual life (years) |  |  | 2.2 years |  |  |  | 2.7 years |
Expected volatility |  |  | 133.5 | % |  |  | 127.4 | %
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 September 30, 2021 |  |  | September 30, 2021 |
Market price per share (USD/share) |  |  | 2.33 |  |  |  | 2.33 |
Exercise price (USD/price) |  |  | 7.67 |  |  |  | 9.204 |
Risk free rate |  |  | 0.5 | % |  |  | 0.5 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
Expected term/ Contractual life (years) |  |  | 2.9 years |  |  |  | 2.9 years |
Expected volatility |  |  | 126.9 | % |  |  | 126.9 | %
Schedule of warrants liability measured at fair value on a recurring basis using Level 3 inputs |  |
|  | December 31, |  |  | September 30, |
|  | 2020 |  |  | 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 | ) |  |  | (57,174,000 | )
|  | $ | 17,783,000 |  |  | $ | 10,474,000 |
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 |  |  | 6,704,980 |  |  |  | 7.78 |  |  |  | - |
Outstanding at September 30, 2021 |  |  | 9,092,499 |  |  |  | 7.19 |  |  |  | 2.58 |
Exercisable at September 30, 2021 |  |  | 9,092,499 |  |  |  | 7.19 |  |  |  | 2.58 |

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