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WARRANTS
 6 Months Ended
Jun. 30, 2025
Warrants  
WARRANTS

NOTE 14 – WARRANTS

 

The table below summarizes the Company’s warrant activities for the first six months of 2025:

 

   Number of Ordinary
Shares		   Number of Series
A, B, C, D		  

Number of

Series Seed

  

Exercise

Price

   Weighted Average 
   Warrants   Warrants   Shares   Range   Exercise 
   (*)   (*)   Warrants   Per Share   Price 
Balance at December 31, 2024   4,185,112    133    4,165   $2.17 to $ 86,713.38   $2.30 
Granted   -    -    -           
Forfeited   -    -    -           
Converted   -    -    -           
Exercised   (2,476,471)   -    -           
Adjustments due to triggering events   26,440,275    -    -           
Balance at June 30, 2025 (Unaudited)   28,148,916    133    4,165   $2.17 to $ 86,713.38   $2.30 

 

(*) Ordinary and preferred share warrant amounts and exercise prices have been adjusted to reflect the May 27, 2025 one to four reverse stock split.

 

The Ordinary shares warrants carry a cashless exercise feature in which if the resale by the holder of the warrant shares issuable upon exercise of the warrants is not available to be issued to the warrant holder without legend or other restrictions, the warrant holder can elect to receive upon such exercise the higher of (i) 0.85 Ordinary shares per warrant share in such exercise and (ii) the “Net Number” of Ordinary shares (as defined in the warrant agreement). The exercise price and number of Ordinary warrant shares issuable upon exercise are subject to adjustment from time to time, for share dividends and splits, upon issuance of Ordinary shares, options, convertible securities and changes in option price or rate of conversion.

 

During the six months ended June 30, 2025, 2,594,118 Ordinary Share warrants were exercised for 2,185,000 Ordinary Shares based on a conversion ratio of 0.85.

 

 

Series A, B, C, and D Warrants conversion ratios are 0.779, 0.816, 0.888, and 0.826, respectively.

 

During the year ended December 31, 2024, 1,732,081 Ordinary Share warrants were exercised for 1,472,269 Ordinary Shares based on a conversion ratio of 0.85.

 

The ordinary shares and warrants in these conversions have been adjusted for the February 5, 2024 1:10 reverse stock split, the September 25, 2024 1:25 reverse stock split, and the May 27, 2025 1:4 reverse stock split.