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SHARE CAPITAL (Tables)
 6 Months Ended
Jun. 30, 2024
Share Capital  
SCHEDULE OF INFORMATION ABOUT CLASSES OF SHARE CAPITAL

 

   June 30, 2024   December 31, 2023 
   Number   Number 
   of shares   of shares 
Authorized:          
Preferred shares, no par value   50,000,000    50,000,000 
Class A Ordinary shares, no par value   200,000,000    200,000,000 
Class B Ordinary shares, no par value   50,000,000    50,000,000 

 

 

   June 30, 2024 
   Number 
   of shares 
Outstanding and fully paid:     
Ordinary shares, no par value     
At January 1, 2024   3,251,918 
Issuance of new shares for equity financing   3,238,067 
Warrants exercised and buy-back   1,456,080 
Note conversion into shares   68,913 
Equity compensation   3,632,325 
At June 30, 2024   11,647,303 
SCHEDULE OF PRINCIPAL ASSUMPTIONS USED IN VALUATION

  

Grant date (investors and placement agent, respectively)  February 17, 2021 
Share price at date of grant (investors and placement agent, respectively)  US$4.45 
Exercise price at date of grant (investors and placement agent, respectively)  US$3.57 & 4.46 
Volatility   107%
Warrant life   5 years 
Dividend yield   0%
Risk-free interest rate   0.57%
Average fair value at grant date  US$3.54 

 

Grant date (investors and placement agent, respectively)  June 14, 2021 
Share price at date of grant (investors and placement agent, respectively)  US$3.15 
Exercise price at date of grant (investors and placement agent, respectively)  US$3.42 & 4.35 
Volatility   115%
Warrant life   5 years 
Dividend yield   0%
Risk-free interest rate   0.80%
Average fair value at grant date  US$2.50 
 

 

Grant date (investors and placement agent, respectively)  October 4, 2022 
Share price at date of grant (investors and placement agent, respectively)  US$0.58 
Exercise price at date of grant (investors and placement agent, respectively)  US$0.82 & 0.75 
Volatility   104%
Warrant life   5 years 
Dividend yield   0%
Risk-free interest rate   3.96%
Average fair value at grant date  US$0.43 
 
SCHEDULE OF SUMMARY OF THE WARRANT ACTIVITY

 

           Weighted 
           Average 
           Remaining 
       Average   Contractual 
   Number of   Exercise   Term in 
   Warrants   Price   Years 
Outstanding at December 31, 2023   362,955   $21.32    2.24 
Exercisable at December 31, 2023   362,955    21.32    2.24 
Issued   1,300,000    1.10    — 
Exercised   1,410,853    1.05    — 
Warrants buy-back   202,032    —    — 
Expired   —    —    — 
Outstanding at June 30, 2024   50,070    34.79    1.74 
Exercisable at June 30, 2024   50,070   $34.79    1.74