v3.26.1
Unaudited Interim Condensed Consolidated Statements of Changes in Equity - USD ($)
Common stock
Treasury shares
Share premium
Accumulated other comprehensive loss
Accumulated deficit
Total
Balance at Dec. 31, 2024 $ 6,327 [1] $ 85,597,939 $ (7,557,999) $ (139,487,178) $ (61,440,911)
Balance (in Shares) at Dec. 31, 2024 63,272,419          
Balance (in Shares) at Dec. 31, 2024 [1]          
Net loss [1] (19,278,511) (19,278,511)
Repurchase of shares [1] $ (195,438) (195,438)
Repurchase of shares (in Shares) [1] 65,212        
Exercise of incentive shares issued to convertible note holders $ 60 [1] 1,753,940 1,754,000
Exercise of incentive shares issued to convertible note holders (in Shares) 600,000        
Compensation of share-based awards to employees [2] [1] 963,478 963,478
Exercise of share-based awards $ 1,307 [1] 3,765,492 3,766,799
Exercise of share-based awards (in Shares) 13,070,665          
Exercise of shares issued to employee $ 10 [1] 167,920 167,930
Exercise of shares issued to employee (in Shares) 98,724          
Conversion of convertible notes into shares $ 67 [1] 1,099,933 1,100,000
Conversion of convertible notes into shares (in Shares) 666,667        
Balance at Jun. 30, 2025 $ 7,771 $ (195,438) [1] 93,348,702 (7,557,999) (158,765,689) (73,162,653)
Balance (in Shares) at Jun. 30, 2025 77,708,475          
Balance (in Shares) at Jun. 30, 2025 [1]   65,212        
Balance at Dec. 31, 2025 $ 8,604 $ (367,632) [1] 121,762,359 (7,557,999) (180,933,216) (67,087,884)
Balance (in Shares) at Dec. 31, 2025 86,042,726          
Balance (in Shares) at Dec. 31, 2025 [1]   132,524        
Net loss [1] (19,928,085) (19,928,085)
Repurchase of shares [1] $ (287,254) (287,254)
Repurchase of shares (in Shares) [1] 163,294        
Exercise of incentive shares issued to convertible note holders $ 50 [1] 884,950 885,000
Exercise of incentive shares issued to convertible note holders (in Shares) 500,000 [1]        
Compensation of share-based awards to employees [2] [1] 688,269 688,269
Exercise of share-based awards $ 7 [1] 3,937,645 3,937,652
Exercise of share-based awards (in Shares) 67,180          
Exercise of shares issued to employee $ 2 [1] 30,388 30,390
Exercise of shares issued to employee (in Shares) 17,465 [1]        
Conversion of convertible notes into shares $ 30 [1] 499,970 500,000
Conversion of convertible notes into shares (in Shares) 303,030 [1]        
Reclassification of equity-classified conversion feature and fair value adjustment on new convertible notes [1] (2,561,000) (2,561,000)
Balance at Jun. 30, 2026 $ 8,693 $ (654,886) [1] $ 125,242,581 $ (7,557,999) $ (200,861,301) $ (83,822,912)
Balance (in Shares) at Jun. 30, 2026 86,930,401          
Balance (in Shares) at Jun. 30, 2026 [1]   295,818        
[1] Under the share repurchase program, the Group repurchased 163,294 shares during the current period (2025: 65,212). The treasury shares are accounted for at cost.
[2] Stock-based compensation expense was US$688,269 for the June 30, 2026 (2025: US$963,478). Such expense is included within general and administrative expenses. There were no new stock-based awards granted and no modifications of existing awards during the period. The Group continues to recognize compensation expenses related to previously granted awards over the requisite service periods.