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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes.

Schedule of tax expense


		Year Ended
		December 31,
		2020			2019			2018
		(USD in thousands)
Income tax expense/(benefit)		$	(1,557)		$	(825)		$	(735)
Total income taxes for the year		$	(1,557)		$	(825)		$	(735)

Schedule of reconciliation of effective tax rate


		Year Ended December 31,
		2020		2019		2018
Statutory corporate income tax rate in Denmark		22	%	22	%	22	%
Non-deductible income / (expenses)		(1)	%	(5)	%	(10)	%
Non-taxable income / (expenses)		1	%	—		—
Additional tax deduction R&D expenses		3	%	—		—
Tax credit research and development expenditures		9	%	7	%	12	%
Change in deferred tax asset not capitalized		(25)	%	(17)	%	(12)	%
Total effective tax rate		9	%	7	%	12	%

Schedule of deferred tax in the statements of financial position


		Year Ended
		December 31,
		2020			2019			2018
		(USD in thousands)
Deferred Tax Positions:
Warrants		$	4,289		$	3,034		$	1,463
Loss carry forward			3,759			1,270			136
Research and development expenditures			262			—			—
Other items			(6)			(34)			48
Valuation allowance on deferred tax assets			(8,042)			(4,270)			(1,647)
Total capitalized		$	262		$	—		$	—