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Earnings (loss) per share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings (Loss) Per Share [Abstract]

Schedule of Earnings (Loss) of Potentially Dilutive Ordinary Shares

The earnings (loss) calculation for the years ended December 31, 2023, 2022 and 2021 excludes the following potentially dilutive ordinary shares:

		Years ended December 31,
		2023				2022				2021
Class A ordinary shares exercisable from warrants issued pursuant to the Warrant Inducement Offering (as defined below in Note 12)(1)			453,333				453,333				453,333
Class A ordinary shares exercisable from warrants issued pursuant to the March 2021 Offering (as defined below in Note 12)(1)			233,333				233,333				233,333
Class A ordinary shares issuable from the outstanding restricted share awards(1)			91,419				133,067				53,000
Total			778,085				819,733				739,666

⁽¹⁾ Retrospectively adjusted for the effect of the Reverse Stock Split effected on November 20, 2022. See Note 12.

Schedule of Income and Share Data Used in the Basic and Diluted Earnings (Loss) Per Ordinary Share Computations

The following reflects the income/(loss) and share data used in the basic and diluted earnings (loss) per ordinary share computations:

		Years ended December 31,
		2023				2022				2021
Earnings (loss) attributable to ordinary shareholders of the Company for basic earnings (loss) per share calculation		$	(36,772,143	)		$	(43,888,242	)		$	4,430,941
Weighted average number of ordinary shares outstanding for basic earnings (loss) per share calculation(1)			6,275,118				6,247,333				5,923,845
Basic earnings (loss) per share(1)		$	(5.86	)		$	(7.03	)		$	0.75
Earnings (loss) attributable to ordinary shareholders of the Company for diluted earnings (loss) per share calculation		$	(36,772,143	)		$	(43,888,242	)		$	4,430,941
Weighted average number of ordinary shares outstanding basic earnings (loss) per share calculation(1)			6,275,118				6,247,333				5,923,845
Adjusted for:
- incremental shares issuable related to warrants issued(1)			-				-				5,013
Weighted average number of shares outstanding for diluted earnings (loss) per share calculation(1)			6,275,118				6,247,333				5,928,858
Diluted earnings (loss) per share(1)		$	(5.86	)		$	(7.03	)		$	0.75

⁽¹⁾ Retrospectively adjusted for the effect of the Reverse Stock Split effected on November 20, 2022. See Note 12.

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

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-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

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