| Loss per share |
Note 5 – Loss per share
The calculation of basic loss per share is based
on the loss attributable to ordinary shareholders of the Company and the weighted average number of ordinary shares in issue for the years
ended December 31, 2025, 2024 and 2023.
The loss per share calculation for the years ended
December 31, 2025, 2024 and 2023 excludes the following potentially dilutive ordinary shares:
| | |
Years ended December 31, | |
| | |
2025 | | |
2024 | | |
2023 | |
| Class A ordinary shares exercisable from warrants issued pursuant to the Warrant Inducement Offering (as defined below in Note 12) | |
| 453,333 | | |
| 453,333 | | |
| 453,333 | |
| Class A ordinary shares exercisable from warrants issued pursuant to the March 2021 Offering (as defined below in Note 12) | |
| 233,333 | | |
| 233,333 | | |
| 233,333 | |
| Class A ordinary shares issuable from the outstanding restricted share awards(1) | |
| 38,289 | | |
| 38,289 | | |
| 91,419 | |
| Total | |
| 724,955 | | |
| 724,955 | | |
| 778,085 | |
The following reflects the loss and share
data used in the basic and diluted loss per ordinary share computations:
| | |
Years ended December 31, | |
| | |
2025 | | |
2024 | | |
2023 | |
| Loss attributable to ordinary shareholders of the Company for basic loss per share calculation | |
$ | (14,093,529 | ) | |
$ | (20,251,051 | ) | |
$ | (36,772,143 | ) |
| Weighted average number of ordinary shares outstanding for basic loss per share calculation | |
| 6,280,616 | | |
| 6,280,616 | | |
| 6,275,118 | |
| Basic loss per share | |
$ | (2.24 | ) | |
$ | (3.22 | ) | |
$ | (5.86 | ) |
| | |
| | | |
| | | |
| | |
| Loss attributable to ordinary shareholders of the Company for diluted loss per share calculation | |
$ | (14,093,529 | ) | |
$ | (20,251,051 | ) | |
$ | (36,772,143 | ) |
| | |
| | | |
| | | |
| | |
| Weighted average number of ordinary shares outstanding basic loss per share calculation | |
| 6,280,616 | | |
| 6,280,616 | | |
| 6,275,118 | |
| Adjusted for: | |
| | | |
| | | |
| | |
| - incremental shares issuable related to warrants issued | |
| - | | |
| - | | |
| - | |
| Weighted average number of shares outstanding for diluted loss per share calculation | |
| 6,280,616 | | |
| 6,280,616 | | |
| 6,275,118 | |
| | |
| | | |
| | | |
| | |
| Diluted loss per share | |
$ | (2.24 | ) | |
$ | (3.22 | ) | |
$ | (5.86 | ) |
|