| SCHEDULE OF WARRANTS VALUATION ASSUMPTIONS |
The
following reflects the inputs and assumptions used:
SCHEDULE OF WARRANTS VALUATION ASSUMPTIONS
| | |
January 24, 2022 | | |
May 23, 2022 | | |
December 31, 2022 | | |
December 31, 2023 | | |
December 31, 2024 | | |
December 31, 2025 | | |
June 30, 2026 | |
| Exercise price | |
$ | 6.00 | | |
$ | 6.00 | | |
$ | 6.00 | | |
$ | 6.00 | | |
$ | 6.00 | | |
$ | 6.00 | | |
$ | 6.00 | |
| Share price | |
$ | 3.64 | | |
$ | 14.94 | | |
$ | 4.66 | | |
$ | 2.71 | | |
$ | 2.78 | | |
$ | 2.93 | | |
$ | 2.74 | |
| Expected term from grant date (in years) | |
| 5.00 | | |
| 5.00 | | |
| 4.10 for Initial Warrant and 4.50 for Second Warrant | | |
| 3.10 for Initial Warrant and 3.40 for Second Warrant | | |
| 2.09 for Initial Warrant and 2.44 for Second Warrant | | |
| 1.08 for Initial Warrant and 1.41 for Second Warrant | | |
| 0.58 for Initial Warrant and 0.91 for Second Warrant | |
| Expected volatility | |
| 96.32 | % | |
| 95.90 | % | |
| 96.03 | % | |
| 82.40 | % | |
| 107.66% for the Initial Warrant and 111.22% for the Second Warrant | | |
| 86.29% for the Initial Warrant and 106.15% for the Second Warrant | | |
| 106.83% for the Initial Warrant and 88.16% for the Second Warrant | |
| Risk-free interest rate | |
| 1.53 | % | |
| 2.88 | % | |
| 3.99 | % | |
| 4.01 | % | |
| 4.25 | % | |
| 3.48 | % | |
| 4.01%
for the Initial Warrant and 3.98%
for the Second Warrant | |
| Dividend yield (per share) | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Warrant valuation Assumptions | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
|
| SCHEDULE OF WARRANT LIABILITIES |
The
movement of warrant liabilities is summarized as follows:
SCHEDULE OF WARRANT LIABILITIES
| | |
| | |
| Balance as of January 1, 2022 | |
$ | - | |
| Issuance of Initial Warrant as of January 24, 2022 | |
| 915,644 | |
| Issuance of Second Warrant as of May 23, 2022 | |
| 4,833,325 | |
| Issuance of Warrant | |
| 4,833,325 | |
| | |
| | |
| | |
| | |
| 50,000 warrant shares exercised on June 16, 2022 | |
| (119,343 | ) |
| 185,000 warrant shares exercised on August 18, 2022 | |
| (915,799 | ) |
| 90,000 warrant shares exercised on August 29, 2022 | |
| (445,524 | ) |
| Warrant shares exercised | |
| (445,524 | ) |
| | |
| | |
| | |
| | |
| Change in fair value of warrant liabilities | |
| (2,878,660 | ) |
| Balance as of December 31, 2022 | |
$ | 1,389,643 | |
| Change in fair value of warrant liabilities for the year | |
| (907,424 | ) |
| Balance as of December 31, 2023 | |
$ | 482,219 | |
| Change in fair value of warrant liabilities | |
| 96,709 | |
| Balance as of December 31, 2024 | |
$ | 578,928 | |
| | |
| | |
| Change in fair value of warrant liabilities | |
| (214,996 | ) |
| Balance as of December 31, 2025 | |
$ | 363,932 | |
| Warrant
liabilities, beginning balance | |
$ | 363,932 | |
| Change in fair value of warrant liabilities | |
| (222,546 | ) |
| Balance as of June 30, 2026 | |
| 141,386 | |
| Warrant
liabilities, ending balance | |
| 141,386 | |
|