v3.26.1
Short-Term and Long-Term Financial Liabilities (Tables)
 6 Months Ended
Jun. 30, 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   June 30,     December 31,  
    price     rate %     date   2026     2025  
Convertible notes, long term   $ 1.65       15.00 %   July 10, 2028     85,777,609       81,548,426  
Convertible notes, long term   $ 2.47       12.50 %   April 30, 2029     20,556,375       4,262,670  
Total financial liabilities, net                         106,333,984       85,811,096  
                                     
Of which classified as:                                    
Current financial liabilities, net                         3,890,229       3,694,936  
Non-current financial liabilities, net                         102,443,755       82,116,160  
Schedule of Significant Inputs
Significant inputs      
Share price   US$ 1.80  
Expected volatility     70 %
Risk-free interest rate     4.215 %
Debt discount rate / credit risk adjustment     25.0 %
Conversion price before amendment   US$ 3.86  
Conversion price after amendment   US$ 2.47  
Schedule of Fair Value Measurement
Fair value measurement   Measurement date   Fair value     Valuation technique   Fair value hierarchy
Conversion feature before Amendment   June 5, 2026   US$ 2,561,000     Monte Carlo simulation   Level 3
Conversion feature after Amendment   June 5, 2026   US$ 5,762,000     Monte Carlo simulation   Level 3
Amended convertible notes recognized at fair value   June 5, 2026   US$ 16,442,000     Monte Carlo simulation   Level 3
Schedule of the Carrying Amount of Convertible Notes

Convertible Note Movement

 

The following table summarizes the movement in the carrying amount of convertible notes for the periods ended June 30, 2026 and December 31, 2025.

 

    June 30,
2026		     December 31,
2025		  
Opening balance     85,811,096       72,995,438  
Additions     7,745,487       19,929,687  
Converted into shares     (500,000 )     (2,220,431 )
Debt discount     (1,999,688 )     (7,590,005 )
Embedded derivative     -       (3,915,094 )
Extinguishment of convertible notes     (5,558,600 )     -  
Recognition of amended convertible notes     16,442,000       -  
Accrued interest, net     4,393,689       6,611,501  
Ending balance     106,333,984       85,811,096  
Schedule of Maturity Profile of Financial Liabilities

The maturity profile of financial liabilities consists of the following:

 

    June 30,
2026		     Dec 31,
2025		  
2026     3,890,229       3,694,936  
2027     -       -  
2028     86,810,504       82,495,077  
2029     19,539,338       13,649,501  
Total principal     110,240,071       99,839,514  
Less: unamortized debt discount, net     (3,906,087 )     (14,028,418 )
Total     106,333,984       85,811,096