v3.25.1
WARRANTS (Tables)
12 Months Ended
Dec. 31, 2024
Short-Term Debt [Line Items]  
SUMMARY OF WARRANT ACTIVITY

The table below summarizes the Company’s warrant activities:

 

   Number of Ordinary Shares Warrants (*)   Number of Series A, B, C, D Warrants (*)   Number of Series Seed Shares Warrants   Exercise Price Range Per Share   Weighted Average Exercise Price 
Balance at December 31, 2022   2    3,175    4,165    $ 18.00 to 867.18   $233.28 
Granted   29,119    -    -    4.00 to 150.00    134.96 
Converted   -    (2,642)   -    165.00 to 330.00    247.88 
Balance at December 31, 2023   29,121    533    4,165    $ 18.00 to 21,678.35   $51.47 
(Exercised)   (1,732,081)   -    -    4.50 to 375.00    19.69 
Adjustments due to triggering events   18,740,450    -    -    4.50    4.50 
Balance at December 31, 2024   16,740,450    533    4,165    $ 4.50 to 21,678.35   $4.69 

 

(*) Only ordinary and preferred shares warrants are adjusted for the February 5, 2024 1:10 reverse stock split and the September 25, 2024 1:25 reverse stock split.
February Promissory Note [Member]  
Short-Term Debt [Line Items]  
SUMMARY OF FAIR VALUE AT GRANT DATE

The following assumptions were used when calculating the fair value of the Series A, B, C and D Warrants:

 

Exercise price of the warrants   $ 4,125.00 - 8,250.00  
Contractual life of the warrants     7 years  
Current value of the underlying share   $ 263.00  
Expected volatility     88.05 %
Expected dividend yield     0.00 %
Risk-free interest rates     1.98 %
December Promissory Note [Member]  
Short-Term Debt [Line Items]  
SUMMARY OF FAIR VALUE AT GRANT DATE

The fair value of the warrants upon issuance was estimated using the Black-Scholes option pricing model using the following weighted-average assumptions:

 

Risk-free interest rate     3.72% - 4.28 %
Remaining contractual term of warrants (years)     10  
Expected volatility     60% - 65 %
Annual dividend yield     0.00 %
Fair value of common stock (per share)   $ 3.60 - $21.10  
Exercise price   $ 4.00 - $150.00