| Schedule of Company’s Ordinary Shares Outstanding |
Movements in the number of the Company’s ordinary shares outstanding are as follows
| | |
2024
(Note 1) | | |
2023
(Note 1) | |
| At January 1 | |
| 7,565,099 | | |
| 6,854,284 | |
| Warrant exercised (Refer to Note 22) | |
| 2,218,750 | | |
| 38,025 | |
| Warrant issued | |
| 2,142,858 | | |
| - | |
| New share issuance | |
| 122,382 | | |
| - | |
| Convertible preference share liabilities exercised (Note 3) | |
| 7,032,012 | | |
| 560,000 | |
| Restricted share units issuance (Note 2) | |
| 68,992 | | |
| 100,090 | |
| Additional paid in capital | |
| 11,761 | | |
| 12,700 | |
| Reverse stock split adjustment | |
| (101 | ) | |
| - | |
| Treasury shares purchased (Note 4) | |
| (1,103,618 | ) | |
| - | |
| At December 31 | |
| 18,058,135 | | |
| 7,565,099 | |
| Note 1: | Shares outstanding for the years have been restated for the 10-to-1 reverse stock split effective April 15, 2024. |
| Note 2: | The restricted share units distributed in 2023 related to: 1) granted vested equity compensation to directors and officers pertaining to award year July 2022 to July 2023; 2) sign on equity bonus and vested equity compensation for select employees. |
| Note 3: | As of December 31, 2024, all outstanding convertible preference shares have been fully converted into ordinary shares. By that date and subsequently, the majority of the outstanding warrants have also been exercised and converted. |
| Note 4: | During the year ended December 31, 2024, 1,103,618 shares were repurchased at a weighted average purchase price of $3.29 per share, for a total consideration of $3,626,488. Repurchased shares have been recorded as treasury shares and will be held until the Company’s Board of Directors designates them for retirement or used for other purposes. |
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