Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity / (Deficit) (Tables)

v3.21.2
Shareholders' Equity / (Deficit) (Tables)
9 Months Ended
Sep. 30, 2021
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 / (deficit) for the nine months ended September 30, 2021 and 2020:

 

 

Total

Shareholders'

Equity / (Deficit)

 

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

 

 

 

 

Total

Shareholders'

Deficit

 

Shareholders' deficit at January 1, 2020

 

$

(26,238

)

Share-based compensation expense

 

 

2,633

 

Issuance of ordinary shares, net

 

 

5,326

 

Issuance of warrants for ordinary shares

 

 

3,196

 

Net loss

 

 

(40,820

)

Shareholders' deficit at September 30, 2020

 

$

(55,903

)

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

 

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

 

$

2.73

 

Fair value of warrants issued

 

$

2.32

 

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

 

$

2.26

 

Fair value of warrants issued

 

$

1.84