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Shareholders' Equity (Tables) | 3 Months Ended
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Mar. 31, 2022
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 for the three months ended March 31, 2022 and 2021:
|  | Total Shareholders' Equity |
Shareholders' equity at January 1, 2022 |  | $ | 50,234 |
Share-based compensation expense |  |  | 1,895 |
Issuance of ordinary shares, net |  |  | 6 |
Net loss |  |  | (3,500 | )
Shareholders' equity at March 31, 2022 |  | $ | 48,635 |
|  | Total Shareholders' (Deficit) / Equity |
Shareholders' deficit at January 1, 2021 |  | $ | (50,559 | )
Share-based compensation expense |  |  | 281 |
Issuance of ordinary shares, net |  |  | 68,156 |
Issuance of warrants for ordinary shares |  |  | 6,199 |
Exercise of warrants for ordinary shares |  |  | 14,257 |
Issuance of ordinary shares on conversion of Exchangeable Notes |  |  | 92,104 |
Net loss |  |  | (98,921 | )
Shareholders' equity at March 31, 2021 |  | $ | 31,517 |
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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- Definition Tabular disclosure of all information related to the key inputs and assumptions (including, at a minimum, but not limited to, and if applicable, quantitative information about discount rates, expected prepayments including the expected weighted-average life of prepayable financial assets, and anticipated credit losses) used in measuring the fair value of assets or liabilities that relate to the transferor's continuing involvement with transferred financial assets, as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719 + Details
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- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21463-112644 + Details
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