Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 Amendments

Convertible loan (Tables)

v3.22.2.2
Convertible loan (Tables)
6 Months Ended
Jun. 30, 2022
Disclosure of detailed information about borrowings [abstract]  
Summary of changes in convertible debt

The following table summarizes the changes in the convertible debt instrument during the six month period to June 30, 2022:

 

    Residual loan     Embedded derivative     Total  
    £     £     £  
                   
Balance at December 31, 2021     6,806,210       6,925,654       13,731,864  
Loan notes issued in the period     170       17,940       18,110  
Accrued interest     5,854,785       -       5,854,785  
Conversion of loan notes     (9,861,405 )     -       (9,861,405 )
Repayment of loan notes     (1,936,360 )     -       (1,936,360 )
Fair value adjustment     -       (6,943,594 )     (6,943,594 )
Currency adjustment     183,709       -       183,709  
Balance at June 30, 2022     1,047,109       -       1,047,109  
Schedule of valuation assumption on convertible debt

The model inputs were as follows:

 

    2022  
Exercise price in USD   $ 212.50  
Share price in USD     18.40  
Time to maturity     One month  
Expected volatility     80 %
Risk free interest rate (US treasury bond)     0.08 %
Dividend yield     -