​

  ​ ​ ​

​

  ​ ​ ​

​

  ​ ​ ​

​

  ​ ​ ​

Amount of

  ​ ​ ​

Additional

​

​

Original

​

​

​

Further

​

Ordinary

​

Paid in

Reconciliation of Ordinary Shares

​

Shares

​

25:1

​

35:1

​

Shares

​

Capital

Consolidated Opening balance at December 31, 2023

11,675,216

467,009

13,344

​

$

11,675

​

$

6,845,394

Share-based compensation - Scholar May 14, 2024

23,360

935

27

​

23

​

24,738

Share-based compensation - Employee May 31, 2024

889,960

35,599

1,016

​

890

​

1,129,359

Share-based compensation - executive officers May 31, 2024

285,960

11,439

328

​

286

​

362,883

Scholar - 08/26/2024

23,360

935

27

​

24

​

26,140

Private Place 09/18/2024

2,722,224

108,889

3,112

​

2,722

​

403,953

B Warrants exercised - 10/31/2024

8,557,554

342,303

9,781

​

8,558

​

765,771

A Warrants exercised

—

—

—

​

—

​

223,361

A Warrants exercised - 11/17/2024

1,038,889

41,556

1,188

​

1,039

​

89,397

Adjustment for share consolidation

—

—

—

​

3

​

(3)

Outstanding shares at 12/31/2024

25,216,523

1,008,665

28,823

​

​

25,220

​

9,870,993

​

​

​

​

​

​

​

​

​

​

​

​

​

A Warrants exercised - Cash 02/03/2025

600,000

24,000

686

​

600

​

129,000

A Warrants exercised - Cash 02/05/2025

900,000

36,000

1,029

​

900

​

193,500

1500000 A Warrants reclassified from liability per exercising

—

—

—

​

—

​

126,180

Deconsolidation of VIE

—

—

—

​

—

​

(2,572,437)

Adjustment for share consolidation

—

21

4

​

4

​

(4)

Outstanding shares at December 31, 2025

26,716,523

1,068,686

30,542

​

26,724

​

7,747,232