Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Tables)

v3.22.2.2
Shareholders' Equity (Tables)
9 Months Ended
Sep. 30, 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 nine months ended September 30, 2022 and 2021:

 

 

 

Total
Shareholders'
Equity

 

Shareholders' equity at January 1, 2022

 

$

50,234

 

Share-based compensation expense

 

 

4,301

 

Cancellation of share options expense

 

 

17,350

 

Issuance of ordinary shares, net

 

 

8

 

Net loss

 

 

(39,344

)

Shareholders' equity at September 30, 2022

 

$

32,549

 

 

 

 

Total
Shareholders'
(Deficit) / Equity

 

Shareholders' deficit at January 1, 2021

 

$

(50,559

)

Share-based compensation expense

 

 

2,352

 

Issuance of ordinary shares, net

 

 

68,161

 

Issuance of warrants for ordinary shares

 

 

6,199

 

Exercise of warrants for ordinary shares

 

 

15,289

 

Issuance of ordinary shares on conversion of Exchangeable Notes

 

 

98,388

 

Net loss

 

 

(87,382

)

Shareholders' equity at September 30, 2021

 

$

52,448

 

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

 

$

23.10

 

Fair value of warrants issued

 

$

19.05

 

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 10, 2021

 

Volatility

 

 

120

%

Expected term in years

 

4.98

 

Dividend rate

 

 

0

%

Risk-free interest rate

 

 

0.46

%

Share price

 

$

40.95

 

Fair value of warrants issued

 

$

34.80

 

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 12, 2021

 

Volatility

 

 

120

%

Expected term in years

 

4.99

 

Dividend rate

 

 

0

%

Risk-free interest rate

 

 

0.50

%

Share price

 

$

33.90

 

Fair value of warrants issued

 

$

27.60