| Schedule of issuance of shares upon conversion of notes and settlement of debts |
The
following tables summarize the issuance of shares upon conversion of notes and settlement of debts discussed above:
Schedule of issuance of shares upon conversion of notes and settlement of debts
| | |
Settlement
Agreement | | |
Settlement
Agreement
2 | | |
Tan
2023
Note | | |
Chen
Settlement
Agreement | | |
Total | |
| Restricted Ordinary shares issued
for settlements | |
| 23,910 | | |
| 14,455 | | |
| 35,000 | | |
| 28,922 | | |
| 102,287 | |
| Share price as of settlement date | |
$ | 28.80 | | |
$ | 28.80 | | |
| 28.80 | | |
$ | 29.40 | | |
| | |
| Fair value of settlement shares | |
$ | 688,608 | | |
$ | 416,304 | | |
| 1,008,000 | | |
$ | 850,306 | | |
$ | 2,963,218 | |
| Debt settled on May 16, 2023 | |
$ | (478,200 | ) | |
$ | (289,100 | ) | |
| (700,000 | ) | |
$ | (850,306 | ) | |
$ | (2,317,606 | ) |
| Loss on Debt Settlements | |
$ | 210,408 | | |
$ | 127,204 | | |
| 308,000 | | |
$ | - | | |
$ | 645,612 | |
The
following tables summarize the issuance of shares upon conversion of notes and settlement of debts discussed above:
| | |
Executive
Settlement Agreement | | |
8iEPL Settlement Agreement | | |
Total | |
| Restricted Ordinary shares issued
for settlements | |
| 14,769 | | |
| 35,000 | | |
| 49,769 | |
| Share price as of settlement date | |
$ | 25.50 | | |
| 38.20 | | |
| | |
| Fair value of settlement shares | |
$ | 376,587 | | |
| 1,337,000 | | |
$ | 1,713,587 | |
| Debt settled on May 16, 2023 | |
$ | (376,587 | ) | |
| (889,000 | ) | |
$ | (1,265,587 | ) |
| Loss on Debt Settlements | |
$ | - | | |
| 448,000 | | |
$ | 448,000 | |
|
| Schedule of warrant activities |
The
summary of warrants activity is as follows:
Schedule of warrant activities
| | |
Warrants Outstanding | | |
Ordinary Shares
Issuable | | |
Weighted
Average
Exercise
Price | | |
Average
Remaining
Contractual
Life | |
| December 31, 2022 | |
| 8,917,250 | | |
| 222,931 | | |
$ | 230.00 | | |
| 4.88 | |
| Granted | |
| - | | |
| - | | |
| - | | |
| - | |
| Forfeited | |
| - | | |
| - | | |
| - | | |
| - | |
| Exercised | |
| - | | |
| - | | |
| - | | |
| - | |
| December 31, 2023 | |
| 8,917,250 | | |
| 222,931 | | |
$ | 230.00 | | |
| 3.88 | |
| Granted | |
| - | | |
| - | | |
| - | | |
| - | |
| Forfeited | |
| - | | |
| - | | |
| - | | |
| - | |
| Exercised | |
| - | | |
| - | | |
| - | | |
| - | |
| December 31, 2024 | |
| 8,917,250 | | |
| 222,931 | | |
$ | 230.00 | | |
| 2.88 | |
| Granted | |
| - | | |
| - | | |
| - | | |
| - | |
| Forfeited | |
| - | | |
| - | | |
| - | | |
| - | |
| Exercised | |
| - | | |
| - | | |
| - | | |
| - | |
| December 31, 2025 | |
| 8,917,250 | | |
| 222,931 | | |
$ | 230.00 | | |
| 1.88 | |
|
| Schedule of earnout shares for triggering event |
The
fair value of the Earnout Shares for Triggering Event 1 and 2 was estimated using the following assumptions:
Schedule of earnout shares for triggering event
| Closing date | |
November
17, 2022 | |
| Share price of the Company as of closing date | |
$ | 5.21 | |
| Average daily return rate | |
| 0.02 | % |
| Daily volatility for Triggering Event 1 | |
| 4.74 | % |
| Daily volatility for Triggering Event 2 | |
| 4.30 | % |
| Daily volatility | |
| 4.30 | % |
| | |
| | |
| Risk-free rate for Triggering Event 1 | |
| 4.75 | % |
| Risk-free rate for Triggering Event 2 | |
| 4.49 | % |
| Risk-free rate | |
| 4.49 | % |
| | |
| | |
| Grant Price for Trigging Event 1 | |
$ | 15.0 | |
| Grant Price for Trigging Event 2 | |
$ | 20.0 | |
| Grant Price | |
$ | 20.0 | |
|