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Warrants (Tables)

9 Months Ended

Sep. 30, 2024

Warrants [Abstract]

Schedule of Warrants Issued

Warrants issued in the 2020 Financing

		Investor Warrants				Placement Agent Warrants
Appraisal Date		December 31, 2023				December 31, 2023
Market price per share (USD/share)		$	n/a			$	1.05
Exercise price (USD/price)			n/a				6.475
Risk free rate			n/a				5.3	%
Dividend yield			n/a				0.0	%
Expected term/ Contractual life (years)			n/a				0.4 years
Expected volatility			n/a				53.9	%

		Investor Warrants Series A1				Placement Agent Warrants
Appraisal Date		December 31, 2023				December 31, 2023
Market price per share (USD/share)			1.05				1.05
Exercise price (USD/price)			7.67				9.204
Risk free rate			5.1	%			5.1	%
Dividend yield			0.0	%			0.0	%
Expected term/ Contractual life (years)			0.6 year				0.6 year
Expected volatility			63.0	%			60.3	%

Schedule of the Warrants Liability Measured at Fair Value on a Recurring Basis

The following is a reconciliation of the beginning and ending balances of warrants liability measured at fair value on a recurring basis using Level 3 inputs:

		December 31, 2023				September 30, 2024
Balance at the beginning of the year/ period		$	136,000			$	-
Warrants issued to institution investors			-				-
Warrants issued to placement agent			-				-
Warrants redeemed			-				-
Fair value change of the issued warrants included in earnings			(136,000	)			-
Balance at end of year/ period			-				-

Schedule of Warrant Activity

The following is a summary of the warrant activity:

		Number of Warrants				Average Exercise Price				Weighted Average Remaining Contractual Term in Years
Outstanding at January 1, 2024			5,296,579			$	7.71				0.60
Exercisable at January 1, 2024			5,296,579			$	7.71				0.60
Granted			-				-				-
Exercised / surrendered			-				-				-
Expired			(5,296,579	)			7.71				-
Outstanding at September 30, 2024			-				-				-
Exercisable at September 30, 2024			-				-				-

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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