Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2022

Reconciliation of the Company's Beginning and Ending Balances in Shareholders' Equity / (Deficit)

The following tables present a reconciliation of the Company’s beginning and ending balances in shareholders’ equity for the three months ended March 31, 2022 and 2021:


	Total Shareholders' Equity
Shareholders' equity at January 1, 2022	$	50,234
Share-based compensation expense		1,895
Issuance of ordinary shares, net		6
Net loss		(3,500	)
Shareholders' equity at March 31, 2022	$	48,635


	Total Shareholders' (Deficit) / Equity
Shareholders' deficit at January 1, 2021	$	(50,559	)
Share-based compensation expense		281
Issuance of ordinary shares, net		68,156
Issuance of warrants for ordinary shares		6,199
Exercise of warrants for ordinary shares		14,257
Issuance of ordinary shares on conversion of Exchangeable Notes		92,104
Net loss		(98,921	)
Shareholders' equity at March 31, 2021	$	31,517

Warrant

Schedule of Fair Value of the Warrants Valued at Issuance Using the Black-Scholes Option Pricing Model

The Company has classified the warrants as equity in accordance with ASC 815. The fair value of the warrants was valued at issuance using the Black-Scholes option pricing model with the following assumptions:


	February 8, 2021
Volatility		120	%
Expected term in years	4.99
Dividend rate		0	%
Risk-free interest rate		0.48	%
Share price	$	1.54
Fair value of warrants issued	$	1.27


	February 10, 2021
Volatility		120	%
Expected term in years	4.98
Dividend rate		0	%
Risk-free interest rate		0.46	%
Share price	$	2.73
Fair value of warrants issued	$	2.32


	February 12, 2021
Volatility		120	%
Expected term in years	4.99
Dividend rate		0	%
Risk-free interest rate		0.50	%
Share price	$	2.26
Fair value of warrants issued	$	1.84