v3.23.3
Equity Incentive Plans and Share-Based Payments (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2023
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]    
Schedule of Stock Options Assumptions

The fair value of each option was estimated on the date of the grant using the BSM option pricing model with the following assumptions:

 

   Six Months Ended June 30, 
   2023   2022 
Expected volatility   70% - 95%   55% - 65%
Expected term (in years)   6.0    5.24 -6.0 
Risk-free interest rate   3.5% - 3.9%   1.79% - 2.90%
Expected dividend yield   0.0%   0.0%

The fair value of each option was estimated on the date of the grant using the BSM option pricing model with the following assumptions:

 

    2022     2021  
Expected volatility     55% -70 %     55.0 %
Expected term (in years)     5.24 - 6.0       6.0  
Risk-free interest rate     1.34% - 4.10 %     1.34 %
Expected dividend yield     0.0 %     0.0 %
Schedule of Stock Option Activity

Options outstanding and exercisable under the employee share option plan as of June 30, 2023 and a summary of option activity during the six months then ended is presented below.

 

   Shares  

Weighted

Average

Exercise

Price 

  

Weighted

Average

Remaining

Contractual

Term

  

Aggregate

Intrinsic

Value (1)

 
Outstanding at December 31, 2022   86,951   $62.16           
Granted   22,477   $13.98           
Exercised   -   $-           
Canceled or forfeited   (20,419)  $54.14           
Outstanding at June 30, 2023   89,009   $51.84    8.65   $13 
Exercisable at June 30, 2023   26,042   $64.95    7.54   $- 

Options outstanding and exercisable under the employee share option plan as of December 31, 2022 and December 2021, and a summary of option activity during the year then ended is presented below.

 

   Shares   Weighted Average Exercise Price   Weighted Average Remaining Contractual Term   Aggregate Intrinsic Value (1) 
Outstanding at December 31, 2020   -   $-           
Granted   30,942   $95.40           
Exercised   -   $-           
Canceled or forfeited   (205)  $95.40           
Outstanding at December 31, 2021   30,737   $95.40    9.94   $1,691 
Granted   64,572   $48.20           
Exercised   -   $-           
Canceled or forfeited   (8,358)  $76.11           
Outstanding at December 31, 2022   86,951   $62.16    9.27   $1 
Exercisable at December 31, 2022   11,166   $85.48    8.99   $- 

 

  (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of the common stock for the options that were in the money at December 31, 2022 and December 31, 2021.
Schedule of Restricted Stock Units

   Shares   Weighted Average Remaining Contractual Term   Aggregate Intrinsic Value   Weighted Average Grant Date Fair Value 
Outstanding at December 31, 2022   17,176        $            $52.2
Awarded   -        $    $-
Vested   (8,588)       $    $52.2
Canceled or forfeited   (3,817)       $    $-
Outstanding at June 30, 2023   4,771    0.88   $50   $52.2 

The following table summarizes the activity for RSUs during the year ended December 31, 2022 and December 31, 2021:

 

   Shares   Weighted Average Grant Date Fair Value 
Outstanding balance at December 31, 2020   -   $- 
Granted   8,504    95.40 
Issued   -    - 
Forfeited   -    - 
Outstanding balance at December 31, 2021   8,504   $95.40 
Awarded   17,176    52.20 
Issued   (8,504)   95.40 
Forfeited   -    - 
Outstanding balance at December 31, 2022   17,176   $52.20