Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Convertible loan (Tables)

v3.23.1
Convertible loan (Tables)
 12 Months Ended
Dec. 31, 2022
Summary of changes in convertible debt

The following table summarizes the changes in the convertible debt instrument during the twelve-month period to December 31, 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     6,704,511       -       6,704,511  
Conversion of loan notes     (10,506,174 )     -       (10,506,174 )
Repayment of loan notes     (2,632,324 )     -       (2,632,324 )
Modification of convertible loan     (30,535 )     170,879       140,344  
Fair value adjustment     -       (7,112,034 )     (7,112,034 )
Currency adjustment     311,626       -       311,626  
Balance at December 31, 2022     653,484       2,439       655,923  
Schedule of valuation assumption on convertible debt

 

Conversion option

 

    August 9, 2022     December 31, 2022  
Exercise price in USD   $ 0.50     $ 0.50  
Share price in USD   $ 20.50     $ 3.85  
Time to maturity     0.5 years       0.1 years  
Expected volatility     80.0 %     100 %
Risk free interest rate (US treasury bond)     3.1 %     4.1 %
Dividend yield     -       -  

 

Related share purchase warrants

 

    August 9, 2022     December 31, 2022  
Exercise price in USD   $ 0.41     $ 0.41  
Share price in USD   $ 20.50     $ 3.85  
Time to maturity     2 years       1.6 years  
Expected volatility     80.0 %     85 %
Risk free interest rate (US treasury bond)     3.3 %     4.5 %
Dividend yield     -       -