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Restatement and Revision of Previously Issued Financial Statements (Tables)
 3 Months Ended
Mar. 31, 2024
Accounting Changes and Error Corrections [Abstract]  
Schedule of Impact of the Errors on Financial Statement

The impact of the errors described above on the condensed consolidated balance sheet as of March 31, 2024, is as follows:

 

   As Previously Reported   Adjustment   As Restated 
   As of March 31, 2024 
(Dollar amounts in thousands) 

As

Previously

Reported

   Adjustment   As Restated 
Condensed Consolidated Balance               
Current liabilities               
Deferred commission payable   -    5,738    5,738 
Total current liabilities   1,984    5,738    7,722 
Deferred commission payable   5,738    (5,738)   - 
Total liabilities   8,016    -    8,016 
The impact of the errors described above on the balance sheet as of March 31, 2023, is as follows (in thousands):

 

   As Previously Reported   Adjustment   As Restated 
   As of March 31, 2023 (Unaudited) 
   As Previously Reported   Adjustment   As Revised 
Balance Sheets (in thousands)               
Assets               
Current assets               
Prepaid expenses and other current assets  $-   $493   $493 
Total current assets   8    493    501 
Total assets   13    493    506 
Stockholders’ deficit               
Accumulated deficit   (12,929)   493    (12,436)
Total shareholders’ deficit   (12,517)   493    (12,024)
Total liabilities and shareholders’ deficit  $13   $493   $506 
 The impact of the errors described above on the statements of operations and comprehensive loss for the three months ended March 31, 2023, is as follows (in thousands):

 

   As  Previously Reported   Adjustment   As Restated 
   For the three months ended March 31, 2023 (Unaudited) 
   As  Previously Reported   Adjustment   As Revised 
Statements of Operations and Comprehensive Loss (in thousands)               
Operating expenses:               
General and administrative expenses  $2,008   $(493)  $1,515 
Total operating costs and expenses   2,008    (493)   1,515 
Operating loss   (2,008)   493    (1,515)
Net loss  $(2,165)  $493   $(1,672)
Net loss per share attributable to ordinary shareholders – basic and diluted*  $(1,082)  $247   $(835)
Total Comprehensive Loss  $(2,428)  $493   $(1,935)

 

*Does not reflect the impact of the Merger on the Company’s capital structure
 he impact of the errors described above on the statements of changes in shareholders’ deficit as of March 31, 2023, is as follows (in thousands):

 

   As  Previously Reported   Adjustment   As Restated 
   As of March 31, 2023 (Unaudited) 
   As  Previously Reported   Adjustment   As Revised 
Statements of Changes in Shareholders’ Deficit (in thousands)               
Accumulated deficit  $(12,929)  $493   $(12,436)
Total shareholders’ deficit  $(12,517)  $493   $(12,024)
 The impact of the errors described above on the statements of cash flows for the three months ended March 31, 2023, is as follows (in thousands):

 

   As  Previously Reported   Adjustment   As Restated 
   For the three months ended March 31, 2023 (Unaudited) 
   As  Previously Reported   Adjustment   As Revised 
Statements of Cash Flows (in thousands)               
Cash flows from operating activities:               
Net loss  $(2,165)   493    (1,672)
Changes in operating assets and liabilities:               
Prepaid expenses and other current assets  $-    (493)   (493)