XML 44 R16.htm IDEA: XBRL DOCUMENT

Accounts Payable and Accrued Expenses

12 Months Ended

Dec. 31, 2023

Accounts Payable and Accrued Expenses [Abstract]

10. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses as of December 31, 2023 and 2022 consisted of:

	December 31, 2023		December 31, 2022

Deferred bonus and salaries payable	$	451,660	$	5,084,969
Research and development expenses payable		1,162,155		563,913
Professional fees payable		175,324		226,407
Cost of healthcare services payable		61,826		138,316
Insurance expenses payable		27,463		33,367
Others		15,913		119,835
	$	1,894,341	$	6,166,807

On March 31, 2023, the Group entered into exchange agreements and cancelled 177,667 existing vested and unvested share options held by related parties option holders and cancelled its obligations for deferred cash bonus payables of $3.1 million by granting 403,820 share options with 6 months vesting period (see Note 17). The settlement of obligations of $3.1 million deferred cash bonus payables was deemed as capital contribution from related parties and was credited to additional paid-in capital.

On March 31, 2023, the Group entered into exchange agreements and cancelled 70,428 existing vested and unvested share options held by non-related parties option holders and cancelled its obligations for deferred cash bonus payables of $1.6 million by issuance of 70,430 fully vested Class A Ordinary Shares (see Note 16). The reversal of deferred cash bonus payables for $1.0 million and $0.6 million was credited to research and development expenses and general and administrative fees, respectively.