Short-Term and Long-Term Financial Liabilities (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Short-Term and Long-Term Financial Liabilities [Abstract] |
|
| Schedule of Carrying Amount of Financial Liabilities |
Carrying Amount of Financial Liabilities
| | | Conversion exercise | | | Contractual interest | | | Maturity | | March 31, | | | December
31, | | | | | price | | | rate % | | | date | | 2026 | | | 2025 | | | Convertible notes, long term | | $ | 1.65 | | | | 15.00 | % | | July 10, 2028 | | | 82,694,942 | | | | 81,548,426 | | | Convertible notes, long term | | $ | 3.88 | | | | 12.50 | % | | April 30, 2029 | | | 4,990,419 | | | | 4,262,670 | | | Total financial liabilities, net | | | | | | | | | | | | | 87,685,361 | | | | 85,811,096 | | | | | | | | | | | | | | | | | | | | | | | Of which classified as: | | | | | | | | | | | | | | | | | | | | Current financial liabilities, net | | | | | | | | | | | | | 1,778,704 | | | | 3,694,936 | | | Non-current financial liabilities, net | | | | | | | | | | | | | 85,906,657 | | | | 82,116,160 | |
|
| Schedule of the Carrying Amount of Convertible Notes |
The following table summarizes the movement in
the carrying amount of convertible notes for the periods ended March 31, 2026 and December 31, 2025.
| | |
March 31, 2026 | | |
December 31,
2025 | |
| Opening balance | |
| 85,811,096 | | |
| 72,995,438 | |
| Additions | |
| 2,745,488 | | |
| 19,929,687 | |
| Converted into shares | |
| - | | |
| (2,220,431 | ) |
| Debt discount | |
| (983,384 | ) | |
| (7,590,005 | ) |
| Embedded derivative | |
| - | | |
| (3,915,094 | ) |
| Accrued interest, net (*) | |
| 112,161 | | |
| 6,611,501 | |
| Ending balance | |
| 87,685,361 | | |
| 85,811,096 | |
| (*) | The amount includes US$4,143,466 (2025: US$2,913,965) relating to interest expense on convertible notes which is recorded under financial
expense. |
|
| Schedule of Maturity Profile of Financial Liabilities |
The maturity profile of financial liabilities consists of the following:
| | |
March 31,
2026 | | |
Dec 31,
2025 | |
| | |
| | |
| |
| 2026 | |
| 1,778,704 | | |
| 3,694,936 | |
| 2027 | |
| - | | |
| - | |
| 2028 | |
| 86,234,234 | | |
| 82,495,077 | |
| 2029 | |
| 14,067,357 | | |
| 13,649,501 | |
| Total principal | |
| 102,080,295 | | |
| 99,839,514 | |
| Less: unamortized debt discount | |
| (14,394,934 | ) | |
| (14,028,418 | ) |
| Total | |
| 87,685,361 | | |
| 85,811,096 | |
|