v3.24.1
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