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Shareholders' Equity / (Deficit) (Tables) | 9 Months Ended
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Sep. 30, 2021
Reconciliation of the Company's Beginning and Ending Balances in Shareholders' Equity / (Deficit) | The following tables present a reconciliation of the Company’s beginning and ending balances in shareholders’ equity / (deficit) for the nine months ended September 30, 2021 and 2020:
|  | Total Shareholders' Equity / (Deficit) |
Shareholders' deficit at January 1, 2021 |  | $ | (50,559 | )
Share-based compensation expense |  |  | 2,352 |
Issuance of ordinary shares, net |  |  | 68,161 |
Issuance of warrants for ordinary shares |  |  | 6,199 |
Exercise of warrants for ordinary shares |  |  | 15,289 |
Issuance of ordinary shares on conversion of exchangeable notes |  |  | 98,388 |
Net loss |  |  | (87,382 | )
Shareholders' equity at September 30, 2021 |  | $ | 52,448 |
|  | Total Shareholders' Deficit |
Shareholders' deficit at January 1, 2020 |  | $ | (26,238 | )
Share-based compensation expense |  |  | 2,633 |
Issuance of ordinary shares, net |  |  | 5,326 |
Issuance of warrants for ordinary shares |  |  | 3,196 |
Net loss |  |  | (40,820 | )
Shareholders' deficit at September 30, 2020 |  | $ | (55,903 | )
Warrant |
Schedule of Fair Value of the Warrants Valued at Issuance Using the Black-Scholes Option Pricing Model | The Company has classified the warrants as equity in accordance with ASC 815. The fair value of the warrants was valued at issuance using the Black-Scholes option pricing model with the following assumptions:
|  | February 8, 2021 |
Volatility |  |  | 120 | %
Expected term in years |  | 4.99 |
Dividend rate |  |  | 0 | %
Risk-free interest rate |  |  | 0.48 | %
Share price |  | $ | 1.54 |
Fair value of warrants issued |  | $ | 1.27 |
The Company has classified the warrants as equity in accordance with ASC 815. The fair value of the warrants was valued at issuance using the Black-Scholes option pricing model with the following assumptions:
|  | February 10, 2021 |
Volatility |  |  | 120 | %
Expected term in years |  | 4.98 |
Dividend rate |  |  | 0 | %
Risk-free interest rate |  |  | 0.46 | %
Share price |  | $ | 2.73 |
Fair value of warrants issued |  | $ | 2.32 |
The Company has classified the warrants as equity in accordance with ASC 815. The fair value of the warrants was valued at issuance using the Black-Scholes option pricing model with the following assumptions:
|  | February 12, 2021 |
Volatility |  |  | 120 | %
Expected term in years |  | 4.99 |
Dividend rate |  |  | 0 | %
Risk-free interest rate |  |  | 0.50 | %
Share price |  | $ | 2.26 |
Fair value of warrants issued |  | $ | 1.84 |

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