Capital transactions |
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Mar. 31, 2022 | |||||||||||||
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| Capital transactions | Note 13 — Capital transactions
On July 24, 2020, the Company completed a 1-for-10 reverse stock split of ordinary shares, such that for each ten shares outstanding prior to the Stock Split, there was one share outstanding after the Stock Split.
All shares of ordinary shares and amount per share referenced in this report have been adjusted retroactively to reflect the Stock Split.
On November 17 , 2020, the Company sold ordinary shares (post-Reverse Stock Split) at a purchase price of $ per Share, pursuant to a private securities offering conducted under Regulation S promulgated under the Securities Act.
On November 15, 2021, the Company sold Shares, at a purchase price of $ per Share with one warrant for ten ordinary shares sold (“Warrant”), pursuant to a private securities offering conducted under Regulation S promulgated under the Securities Act. Each Warrant is entitled to subscribe for one share at a price of $4.00 per share for one-year period ending November 15, 2022.
On November 17, 2020 the Company cancelled ordinary shares (post-Reverse Stock Split) at a purchase price of $1.00 per Share.
On December 2, 2021, Options were exercised on a cashless basis, the closing price of ordinary shares was $5.38 on December 1, 2022 and the exercise price was $0.50. As a result of such exercise, ordinary shares of the Company were issued, being 300,000 shares multiple by closing price ($5.38) minus the exercise price ($0.50) divided by the closing price ($5.38).
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