Share-Based Compensation Expense (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
| Share-Based Compensation Expense [Abstract] |
|
| Schedule of Share-Based Compensation Expenses |
Share-based compensation expenses are
summarized as follows:
| | |
2023 | | |
2022 | |
| | |
| | |
| |
| Restricted stock units | |
$ | 8,463,373 | | |
$ | 1,713,277 | |
| Stock options | |
| 5,193,301 | | |
| 220,126 | |
| Rights to contingent consideration | |
| 2,478,040 | | |
| - | |
| | |
$ | 16,134,714 | | |
$ | 1,933,403 | |
|
| Schedule of Unvested Restricted Stock Units (“RSUs”) Transactions |
The following table reflects the continuity
of unvested restricted stock units (“RSUs”) transactions:
| | |
Number | | |
Weighted Average Grant Date Fair Value | |
| Outstanding, December 31, 2022 | |
| 1,548,098 | | |
$ | 11.62 | |
| Granted | |
| 646,433 | | |
| 8.51 | |
| Vested | |
| (551,522 | ) | |
| 11.21 | |
| Forfeited | |
| (11,671 | ) | |
| 9.01 | |
| Outstanding, December 31, 2023 | |
| 1,631,338 | | |
$ | 10.55 | |
|
| Schedule of Additional Information Related to RSUs Activity |
The following table reflects additional
information related to RSUs activity:
| | |
2023 | | |
2022 | |
| Grant date fair value of RSUs | |
$ | 22,916,836 | | |
$ | 17,993,839 | |
|
| Schedule of Stock Option Transactions |
The fair value of the options was determined
using either a Black-Scholes option pricing model or a Monte Carlo simulation methodology that included simulating the stock price using
a risk-neutral Geometric Brownian Motion-based pricing model. The following table reflects the assumptions made:
| | |
2023 | | |
2022 | |
| Share price | |
| $2.68-$9.23 | | |
| $9.44-$11.13 | |
| Exercise price | |
| $4.63-$10.36 | | |
| $10.60-$12.49 | |
| Risk-free interest rate | |
| 3.42%-4.94% | | |
| 3.72% | |
| Volatility | |
| 88%-97% | | |
| 95% | |
| Expected life | |
| 4-10 years | | |
| 10 years | |
| Dividend rate | |
| 0.00% | | |
| 0.00% | |
|
| Schedule of Stock Option Transactions |
The following table reflects
the continuity of stock option transactions:
| | |
Service Conditions | |
| | |
Number | | |
Weighted Average Exercise Price | | |
Weighted Average Remaining Contractual Term (in years) | |
| Outstanding, December 31, 2022 | |
| 58,607,457 | | |
$ | 0.22 | | |
| | |
| Granted | |
| 6,446,585 | | |
| 5.70 | | |
| | |
| Forfeited | |
| (49,203 | ) | |
| 8.31 | | |
| | |
| Outstanding, December 31, 2023 | |
| 65,004,839 | | |
$ | 0.50 | | |
| 15.31 | |
| | |
| | | |
| | | |
| | |
| Vested and exercisable, December 31, 2023 | |
| 58,137,272 | | |
$ | 0.10 | | |
| 15.31 | |
| | |
Performance Conditions | |
| | |
Number | | |
Weighted Average Exercise Price | | |
Weighted Average Remaining Contract Term (in years) | |
| Outstanding, December 31, 2022 | |
| - | | |
$ | - | | |
| | |
| Granted | |
| 358,249 | | |
| 9.42 | | |
| | |
| Forfeited | |
| - | | |
| - | | |
| | |
| Outstanding, December 31, 2023 | |
| 358,249 | | |
$ | 9.42 | | |
| 9.30 | |
| | |
| | | |
| | | |
| | |
| Vested and exercisable, December 31, 2023 | |
| - | | |
| - | | |
| 9.30 | |
|
| Schedule of Fair Value of New Award on the Acquisition Date and the Amount Allocated to Consideration |
The difference between the fair value of the new award on the acquisition date and the amount allocated to consideration
is post-combination expense, as laid out below:
| | |
Fair value | |
| Allocated to consideration | |
$ | 15,578 | |
| Allocated to post-combination services | |
| 5,941,563 | |
| Total fair value of rights | |
$ | 5,957,141 | |
|