Annual report pursuant to Section 13 and 15(d)

Derivative Financial Instruments (Tables)

v3.23.1
Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of conversion feature derivative valuations
     Inception       December 31,
2022
 
 
Common stock price   $ 25.5     $ 8.5  
Exercise price   $ 28.05-30.6         28.05-30.6  
Expected volatility     100.0 %     100.0 %
Risk free rate     2.3-3.0 %     4.5-4.7 %
Expected dividend yield     0 %     0 %
Expected term (years)       0.55-1.25       0.29-0.70  
Discount rate     37.7 %     37.7 %
PV factor       0.67-0.84         0.80-0.91  

 

Schedule of warrant derivative valuations
    Inception     December 31,
2022
 
Common stock price   $ 25.5     $ 8.5  
Expected volatility     100.0 %     100.0 %
Expected term (years)     6.05       5.5  
Risk free rate     3.5 %     4.6 %
Expected dividend yield     0 %     0 %

 

Schedule of derivative liabilities
    Conversion Feature     Warrants     Total  
Balance at December 31, 2021   -     -     -  
Issuance – June 13, 2022   $ 1,610,000     $ 1,622,399     $ 3,232,399  
Movement in fair value     (570,000 )     (1,003,792 )     (1,573,792 )
Balance at December 31, 2022   $ 1,040,000     $ 618,607     $ 1,658,607