0001104659-21-052672 | 20-F | XBRL Viewer

Document And Entity Information	12 Months Ended
Document And Entity Information	Dec. 31, 2020 shares
Document And Entity Information [Abstract]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Registrant Name	Akari Therapeutics Plc
Entity Central Index Key	0001541157
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Trading Symbol	AKTX
Title of 12(b) Security	American Depositary Shares, each representing 100 Ordinary Shares, par value $0.0001 per share
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	3,847,331,923

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current Assets:
Cash	$ 14,055,777	$ 12,317,798	$ 12,746,266	$ 7,822,180	$ 5,731,691	$ 6,268,667	$ 2,736,663	$ 6,145,555
Prepaid expenses and other current assets	521,880	1,349,244	1,679,425	1,828,444	712,975	1,058,527	1,747,365	1,887,780
Total Current Assets	14,577,657	13,667,042	14,425,691	9,650,624	6,444,666	10,230,181	4,551,811	8,033,335
Property and equipment, net	0			2,096	5,013	8,388	12,056	15,834
Patent acquisition costs, net	27,150	26,674	26,489	27,566	30,163	29,147	31,065	32,867
Total Assets	14,604,807	13,693,716	14,452,180	9,680,286	6,479,842	10,267,716	4,612,296	8,229,960
Current Liabilities:
Accounts payable	3,380,782	2,410,530	2,191,168	966,059	1,228,772	1,315,411	1,481,536	1,763,182
Accrued expenses	1,839,706	975,893	1,941,083	2,630,857	4,228,604	3,035,056	2,671,393	1,625,228
Liability related to stock options and warrants	0	3,358,994	4,362,515	2,814,781	1,014,868	1,014,869
Total Liabilities	5,220,488	6,745,417	8,494,766	6,411,697	6,472,244	5,365,336	4,152,929	3,388,410
Commitments and Contingencies
Shareholders' (Deficiency) Equity:
Share capital of 0.01 par value Authorized: 10,000,000,000 ordinary shares; issued and outstanding	384,733	46,578,543	46,578,543	40,085,648	31,987,016	30,123,701	24,538,137	23,716,875
Additional paid-in capital	139,734,651	136,462,016	136,380,909	132,699,127	133,568,636	132,549,942	130,813,879	129,909,435
Capital redemption reserve	52,193,811				0
Accumulated other comprehensive loss	(648,065)	(621,298)	(617,622)	(571,585)	(348,860)	(402,093)	(405,374)	(245,258)	$ (352,426)	$ (236,246)
Accumulated deficit	(182,280,811)	(175,470,962)	(176,384,416)	(168,944,601)	(165,199,194)	(157,369,170)	(154,487,275)	(148,539,502)
Total Shareholders' Equity	9,384,319	6,948,299	5,957,414	3,268,589	7,598	4,902,380	459,367	4,841,550	$ 4,368,711	$ 22,235,306
Total Liabilities and Shareholders' Equity	$ 14,604,807	$ 13,693,716	$ 14,452,180	$ 9,680,286	$ 6,479,842	$ 10,267,716	$ 4,612,296	$ 8,229,960

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
CONSOLIDATED BALANCE SHEETS
Common stock, par value	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized	10,000,000,000	10,000,000,000	10,000,000,000	10,000,000,000
Common stock, shares issued	3,847,331,923	2,245,865,913	1,585,693,413
Common stock, shares outstanding	3,847,331,923	2,245,865,913		312,019

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Expenses:
Research and development expenses											$ 8,820,204	$ 8,739,420	$ 11,795,376
General and administrative expenses	$ 1,839,414	$ 2,891,177	$ 2,194,809	$ 1,354,263	$ 2,438,106	$ 2,306,398	$ 5,085,986	$ 4,744,504	$ 6,925,400	$ 6,098,767	9,160,770	8,223,700	11,689,926
Litigation settlement gain											0	0	(2,700,000)
Total Operating Expenses	246,883	5,911,609	4,926,974	3,117,320	6,031,447	(11,962)	10,838,583	6,019,485	11,085,466	9,136,805	17,980,974	16,963,120	20,785,302
Gain (Loss) from Operations	(246,883)	(5,911,609)	(4,926,974)	(3,117,320)	(6,031,447)	11,962	(10,838,583)	(6,019,485)	(11,085,466)	(9,136,805)	(17,980,974)	(16,963,120)	(20,785,302)
Other Income:
Interest income	6,132	1,152	1,010	2,057	449	1,286	2,162	1,735	8,294	3,792	13,615	5,531	222,256
Changes in fair value of warrant liabilities - gain	1,003,521	(1,555,609)	949,456	198,948		0	(606,153)		397,368	198,948	556,810	198,948	0
Foreign currency exchange gains (losses)	156,360	27,992	233,404	37,209	86,438	(195,635)	261,396	(109,198)	417,756	(71,989)	350,939	(67,256)	81,501
Other expenses	(5,676)	(1,741)	(2,303)	(2,788)	(3,213)	(4,124)	(4,044)	(7,336)	(9,720)	(10,124)	(22,007)	(20,306)	(17,914)
Total Other Income (Expenses)	1,160,337	(1,528,206)	1,181,567	235,426	83,674	(198,473)	(346,639)	(114,799)	813,698	120,627	899,357	116,917	285,843
Net Loss	913,454	(7,439,815)	(3,745,407)	(2,881,894)	(5,947,773)	(186,511)	(11,185,222)	(6,134,284)	(10,271,768)	(9,016,178)	(17,081,617)	(16,846,203)	(20,499,459)
Other Comprehensive Income:
Foreign Currency Translation Adjustment	(3,676)	(46,037)	(222,725)	3,281	(160,116)	107,168	(268,762)	(52,948)	(272,438)	(49,667)	(299,205)	3,566	(116,180)
Comprehensive Loss	$ 909,778	$ (7,485,852)	$ (3,968,132)	$ (2,878,613)	$ (6,107,889)	$ (79,343)	$ (11,453,984)	$ (6,187,232)	$ (10,544,206)	$ (9,065,845)	$ (17,380,822)	$ (16,842,637)	$ (20,615,639)
Loss per ordinary share (basic and diluted)	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.01)
Weighted average ordinary shares (basic and diluted)	3,386,573,113	3,002,482,637	2,516,280,709	1,971,025,222	1,607,121,984	1,580,860,080	2,759,381,673	1,594,063,579	3,336,002,895	1,721,098,272	3,159,037,588	1,830,998,609	1,540,309,840

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Common Stock	Additional Paid-in Capital	Capital Redemption Reserve	Accumulated Other Comprehensive Loss	Accumulated Deficit	Total
Shareholders' Equity at Dec. 31, 2017	$ 22,927,534	$ 127,397,550		$ (236,246)	$ (127,853,532)	$ 22,235,306
Shareholders' Equity (in shares) at Dec. 31, 2017	1,525,693,393
Stock-based compensation		475,958
Comprehensive income (loss)				32,799	(4,284,106)
Shareholders' Equity at Mar. 31, 2018	$ 22,927,534	127,873,508		(203,447)	(132,137,638)
Shareholders' Equity (in shares) at Mar. 31, 2018	1,525,693,393
Shareholders' Equity at Dec. 31, 2017	$ 22,927,534	127,397,550		(236,246)	(127,853,532)	22,235,306
Shareholders' Equity (in shares) at Dec. 31, 2017	1,525,693,393
Stock-based compensation	$ 0	1,649,044	$ 0	0	0	1,649,044
Issuance of ordinary shares	$ 723,743	376,257		0	0	1,100,000
Issuance of ordinary shares (in shares)	55,000,000
Issuance of share capital to directors	$ 0	0	0	0	0	0
Issuance of share capital to directors (in shares)	20
Comprehensive income (loss)	$ 0	0	0	(116,180)	(20,499,459)	(20,615,639)
Shareholders' Equity at Dec. 31, 2018	$ 23,651,277	129,422,851	0	(352,426)	(148,352,991)	4,368,711
Shareholders' Equity (in shares) at Dec. 31, 2018	1,580,693,413
Shareholders' Equity at Mar. 31, 2018	$ 22,927,534	127,873,508		(203,447)	(132,137,638)
Shareholders' Equity (in shares) at Mar. 31, 2018	1,525,693,393
Stock-based compensation		351,981
Comprehensive income (loss)				(27,188)	(7,869,639)
Shareholders' Equity at Jun. 30, 2018	$ 22,927,534	128,225,489		(230,635)	(140,007,277)
Shareholders' Equity (in shares) at Jun. 30, 2018	1,525,693,393
Stock-based compensation		403,769
Issuance of ordinary shares	$ 723,743	272,284
Issuance of ordinary shares (in shares)	55,000,000
Issuance of share capital to directors (in shares)	20
Comprehensive income (loss)				(65,848)	(3,526,864)
Shareholders' Equity at Sep. 30, 2018	$ 23,651,277	128,901,542		(296,483)	(143,535,141)
Shareholders' Equity (in shares) at Sep. 30, 2018	1,580,693,413
Stock-based compensation		417,336
Issuance of ordinary shares		103,973
Comprehensive income (loss)				(55,943)	(4,818,850)
Shareholders' Equity at Dec. 31, 2018	$ 23,651,277	129,422,851	0	(352,426)	(148,352,991)	4,368,711
Shareholders' Equity (in shares) at Dec. 31, 2018	1,580,693,413
Stock-based compensation		394,439
Issuance of ordinary shares	$ 65,598	92,145
Issuance of ordinary shares (in shares)	5,000,000
Comprehensive income (loss)				107,168	(186,511)	(79,343)
Shareholders' Equity at Mar. 31, 2019	$ 23,716,875	129,909,435		(245,258)	(148,539,502)	4,841,550
Shareholders' Equity (in shares) at Mar. 31, 2019	1,585,693,413
Shareholders' Equity at Dec. 31, 2018	$ 23,651,277	129,422,851	0	(352,426)	(148,352,991)	4,368,711
Shareholders' Equity (in shares) at Dec. 31, 2018	1,580,693,413
Comprehensive income (loss)						(6,187,232)
Shareholders' Equity at Jun. 30, 2019	$ 24,538,137	130,813,879		(405,374)	(154,487,275)	459,367
Shareholders' Equity (in shares) at Jun. 30, 2019	1,650,693,413
Shareholders' Equity at Dec. 31, 2018	$ 23,651,277	129,422,851	0	(352,426)	(148,352,991)	4,368,711
Shareholders' Equity (in shares) at Dec. 31, 2018	1,580,693,413
Comprehensive income (loss)						(9,065,845)
Shareholders' Equity at Sep. 30, 2019	$ 30,123,701	132,549,942		(402,093)	(157,369,170)	4,902,380
Shareholders' Equity (in shares) at Sep. 30, 2019	2,100,865,913
Shareholders' Equity at Dec. 31, 2018	$ 23,651,277	129,422,851	0	(352,426)	(148,352,991)	4,368,711
Shareholders' Equity (in shares) at Dec. 31, 2018	1,580,693,413
Stock-based compensation	$ 0	1,047,387	0	0	0	1,047,387
Issuance of ordinary shares	$ 8,335,739	3,098,398	0	0	0	11,434,137
Issuance of ordinary shares (in shares)	665,172,500
Comprehensive income (loss)	$ 0			3,566	(16,846,203)	(16,842,637)
Shareholders' Equity at Dec. 31, 2019	$ 31,987,016	133,568,636		(348,860)	(165,199,194)	7,598
Shareholders' Equity (in shares) at Dec. 31, 2019	2,245,865,913
Shareholders' Equity at Mar. 31, 2019	$ 23,716,875	129,909,435		(245,258)	(148,539,502)	4,841,550
Shareholders' Equity (in shares) at Mar. 31, 2019	1,585,693,413
Stock-based compensation		409,622
Issuance of ordinary shares	$ 821,262	494,822
Issuance of ordinary shares (in shares)	65,000,000
Comprehensive income (loss)				(160,116)	(5,947,773)	(6,107,889)
Shareholders' Equity at Jun. 30, 2019	$ 24,538,137	130,813,879		(405,374)	(154,487,275)	459,367
Shareholders' Equity (in shares) at Jun. 30, 2019	1,650,693,413
Stock-based compensation		137,385
Issuance of ordinary shares	$ 5,585,564	1,598,678
Issuance of ordinary shares (in shares)	450,172,500
Comprehensive income (loss)				3,281	(2,881,895)	(2,878,613)
Shareholders' Equity at Sep. 30, 2019	$ 30,123,701	132,549,942		(402,093)	(157,369,170)	4,902,380
Shareholders' Equity (in shares) at Sep. 30, 2019	2,100,865,913
Stock-based compensation		105,941
Issuance of ordinary shares	$ 1,863,315	912,753
Issuance of ordinary shares (in shares)	145,000,000
Comprehensive income (loss)				53,233	(7,830,024)
Shareholders' Equity at Dec. 31, 2019	$ 31,987,016	133,568,636		(348,860)	(165,199,194)	7,598
Shareholders' Equity (in shares) at Dec. 31, 2019	2,245,865,913
Stock-based compensation		100,504
Issuance of ordinary shares	$ 8,098,632	(970,013)
Issuance of ordinary shares (in shares)	627,029,600
Comprehensive income (loss)				(222,725)	(3,745,407)	(3,968,132)
Shareholders' Equity at Mar. 31, 2020	$ 40,085,648	132,699,127		(571,585)	(168,944,601)	3,268,589
Shareholders' Equity (in shares) at Mar. 31, 2020	2,872,895,513
Shareholders' Equity at Dec. 31, 2019	$ 31,987,016	133,568,636		(348,860)	(165,199,194)	7,598
Shareholders' Equity (in shares) at Dec. 31, 2019	2,245,865,913
Comprehensive income (loss)						(11,453,984)
Shareholders' Equity at Jun. 30, 2020	$ 46,578,543	136,380,909		(617,622)	(176,384,416)	5,957,414
Shareholders' Equity (in shares) at Jun. 30, 2020	3,386,573,113
Shareholders' Equity at Dec. 31, 2019	$ 31,987,016	133,568,636		(348,860)	(165,199,194)	7,598
Shareholders' Equity (in shares) at Dec. 31, 2019	2,245,865,913
Comprehensive income (loss)						(10,544,206)
Shareholders' Equity at Sep. 30, 2020	$ 46,578,543	136,462,016		(621,298)	(175,470,962)	6,948,299
Shareholders' Equity (in shares) at Sep. 30, 2020	3,386,573,113
Shareholders' Equity at Dec. 31, 2019	$ 31,987,016	133,568,636		(348,860)	(165,199,194)	7,598
Shareholders' Equity (in shares) at Dec. 31, 2019	2,245,865,913
Stock-based compensation	$ 0	325,523		0	0	325,523
Issuance of ordinary shares	$ 20,051,809	2,253,158		0	0	22,304,967
Issuance of ordinary shares (in shares)	1,559,455,100
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital	$ 523,778	376,222		0	0	900,000
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital (in shares)	40,760,900
Exercise of warrants	$ 15,941	11,559		0	0	27,500
Exercise of warrants (in shares)	1,250,000
Issuance of share capital upon conversion of deferred shares	$ 0			0	0	0
Issuance of share capital upon conversion of deferred shares (in shares)	10
Subdivision of ordinary shares	$ (52,193,811)		52,193,811	0	0	0
Reclassification of warrants to shareholders' equity	0	3,199,553		0	0	3,199,553
Comprehensive income (loss)	0			(299,205)	(17,081,617)	(17,380,822)
Shareholders' Equity at Dec. 31, 2020	$ 384,733	139,734,651	$ 52,193,811	(648,065)	(182,280,811)	9,384,319
Shareholders' Equity (in shares) at Dec. 31, 2020	3,847,331,923
Shareholders' Equity at Mar. 31, 2020	$ 40,085,648	132,699,127		(571,585)	(168,944,601)	3,268,589
Shareholders' Equity (in shares) at Mar. 31, 2020	2,872,895,513
Stock-based compensation		63,330
Issuance of ordinary shares	$ 5,953,175	3,230,671
Issuance of ordinary shares (in shares)	471,666,700
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital	$ 523,778	376,222
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital (in shares)	40,760,900
Exercise of warrants	$ 15,941	11,559
Exercise of warrants (in shares)	1,250,000
Comprehensive income (loss)				(46,037)	(7,439,815)	(7,485,852)
Shareholders' Equity at Jun. 30, 2020	$ 46,578,543	136,380,909		(617,622)	(176,384,416)	5,957,414
Shareholders' Equity (in shares) at Jun. 30, 2020	3,386,573,113
Stock-based compensation		81,107
Comprehensive income (loss)				(3,676)	913,454	909,778
Shareholders' Equity at Sep. 30, 2020	$ 46,578,543	$ 136,462,016		$ (621,298)	$ (175,470,962)	$ 6,948,299
Shareholders' Equity (in shares) at Sep. 30, 2020	3,386,573,113

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended					6 Months Ended		9 Months Ended		12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities:
Net loss	$ 913,454	$ (7,439,815)	$ (3,745,407)	$ (2,881,894)	$ (186,511)	$ (11,185,222)	$ (6,134,284)	$ (10,271,768)	$ (9,016,178)	$ (17,081,617)	$ (16,846,203)	$ (20,499,459)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			3,877		5,566	6,921	10,266	7,907	14,892	8,907	19,205	35,848
Stock-based compensation			100,504		394,439	163,834	804,061	244,941	941,446	325,523	1,047,387	1,649,044
Financing expense						900,000		900,000		900,000	0	600,000
Changes in fair value of the liability for options and warrants	(1,003,521)	1,555,609	(949,456)	(198,948)	0	606,153		(397,368)	(198,948)	(556,810)	(198,948)	0
Foreign currency exchange (gains) loss			(171,806)		166,593	(210,896)	91,905	(488,532)	67,922	(490,782)	(30,366)	(104,719)
Increase in assets:
Tax credit receivable									(2,902,987)
Prepaid expenses and other current assets			(1,115,329)		(464,696)	(966,222)	(324,111)	(635,758)	364,594	192,054	710,335	(716,859)
(Decrease)/ increase in liabilities:
Accounts payable and accrued expenses			(1,862,039)		313,553	(1,327,686)	1,008,598	(2,076,709)	1,275,245	(247,683)	2,380,277	(3,689,860)
Other liabilities										0	0	(48,003)
Total adjustments			(3,994,249)		415,455	(827,896)	1,590,719	(2,445,519)	(437,836)	131,209	3,927,890	(2,274,549)
Net Cash Used in Operating Activities			(7,739,656)		228,944	(12,013,118)	(4,543,565)	(12,717,287)	(9,454,014)	(16,950,408)	(12,918,313)	(22,774,008)
Cash Flows from Financing Activities:
Net proceeds from issuance of shares			7,095,368		157,743	19,053,960	1,473,828	19,053,960	9,871,886	25,046,461	12,647,953	500,000
Net proceeds from exercise of warrants to purchase shares										27,500	0	0
Net Cash Provided by Financing Activities			9,877,988		157,743	19,081,460	1,473,828	19,081,460	9,871,886	25,073,961	12,647,953	500,000
Effect of Exchange Rates on Cash			(47,843)		(61,175)	(53,767)	(144,203)	221,934	(117,172)	200,533	34,084	(6,931)
Net Increase (Decrease) in Cash			2,090,489		325,512	7,014,575	(3,213,940)	6,586,107	300,700	8,324,086	(236,276)	(22,280,939)
Cash, beginning of period	12,746,266	7,822,180	5,731,691	2,754,027	5,967,967	5,731,691	5,967,967	5,731,691	5,967,967	5,731,691	5,967,967	28,248,906
Cash, end of period	$ 12,317,798	$ 12,746,266	$ 7,822,180	$ 6,268,667	$ 6,293,479	$ 12,746,266	$ 2,754,027	$ 12,317,798	$ 6,268,667	$ 14,055,777	$ 5,731,691	$ 5,967,967

Nature of Business	12 Months Ended
Nature of Business	Dec. 31, 2020
Nature of Business
Nature of Business	NOTE 1 – Nature of Business Akari Therapeutics, Plc, (the “Company” or “Akari”) is incorporated in the United Kingdom. The Company is a clinical-stage biopharmaceutical company focused on developing treatments for autoinflammatory diseases involving the complement (C5) and leukotriene (LTB4) pathways. The Company’s activities since inception have consisted of performing research and development activities and raising capital. As of December 31, 2020, the Company has an accumulated deficit of $182,280,811, cash of $14,055,777 and negative cash flows from operating activities in the amount of $16,950,408. On June 30, 2020, the Company entered into a securities purchase agreement (the “2020 Purchase Agreement”) with Aspire Capital Fund, LLC, an Illinois limited liability company (“Aspire Capital”), which provides that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $30.0 million of the Company’s ADSs over the 30-month term of the Purchase Agreement (See Note 5). As of December 31, 2020, $24,000,000 remains available under the facility. The Company believes its current capital resources are sufficient to support its operations through May 2021 without giving effect to the sale of additional shares to Aspire Capital under the Purchase Agreement(s). To fund its capital needs, the Company plans to raise additional funds through equity or debt financings or other sources, such as strategic partnerships and alliance and licensing arrangements, and in the long term, proceeds from sales of commercial product. The Company is subject to a number of risks similar to those of clinical stage companies, including dependence on key individuals, uncertainty of product development and generation of revenues, dependence on outside sources of capital, risks associated with the outbreak of coronavirus, risks associated with clinical trials of products, dependence on third-party collaborators for research operations, need for regulatory approval of products, risks associated with protection of intellectual property, and competition with larger, better-capitalized companies. In addition, the Company is subject to risks related to the coronavirus outbreak. For the year ended December 31, 2020, the Company reported a net loss of $17,081,617 and expects to continue to incur substantial losses over the next several years during its development phase. To fully execute its business plan, the Company will need, among other things, to complete its research and development efforts and clinical and regulatory activities. These activities may take several years and will require significant operating and capital expenditures in the foreseeable future. There can be no assurance that these activities will be successful. If the Company is not successful in these activities it could delay, limit, reduce or terminate preclinical studies, clinical trials or other research and development activities. To fund its capital needs, the Company plans to raise funds through equity or debt financings or other sources, such as strategic partnerships and alliance and licensing arrangements, and in the long term, from the proceeds from sales of commercial products. Additional funds may not be available when the Company needs them, on terms that are acceptable to it, or at all. These matters raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments to the carrying amounts and classifications of assets and liabilities that would result if the Company was unable to continue as a going concern. The global outbreak of COVID-19, also known as coronavirus, and public health epidemics can adversely impact the Company’s business as a result of disruptions, such as travel bans, quarantines, and interruptions to access the trial sites and supply chains, which could result in material delays and complications with respect to our research and development programs and clinical trials. Moreover, as a result of the coronavirus, there is a general unease of conducting unnecessary activities in medical centers. As a consequence, during 2020 the Company’s ongoing trials have been halted or disrupted. It is too early to assess the full impact of the coronavirus outbreak on trials for nomacopan, but COVID-19 may affect the Company’s ability to complete recruitment in the original timeframe. For example, the Phase I/II clinical trial in patients with AKC study has been halted and the opening of sites for the Phase III clinical trial in pediatric patients with HSCT-TMA was delayed until the end of 2020. The extent to which the coronavirus impacts operations will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration and continued severity of the outbreak, and the actions that may be required to contain the coronavirus or treat its impact. In particular, the continued spread of the coronavirus globally could adversely impact the Company’s operations and workforce, including research and clinical trials and the ability to raise capital, could affect the operations of key governmental agencies, such as the FDA, which may delay the development of the Company’s product candidates, and could result in the inability of suppliers to deliver components or raw materials on a timely basis or at all, each of which in turn could have an adverse impact on the Company’s business, financial condition and results of operation.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

NOTE 2 – Summary of Significant Accounting Policies

Basis of Presentation - The accompanying financial statements have been prepared in accordance with U.S. GAAP and the rules and regulations of the SEC, assuming that the Company will continue to operate as a going concern.

Principles of Consolidation – The Consolidated Financial Statements include the accounts of the Company, Volution Immuno Pharmaceuticals SA, a private Swiss company, and Akari Malta Limited, a private Maltese company, both wholly-owned subsidiaries. All intercompany transactions have been eliminated.

Foreign Currency – The functional currency of the Company is U.S. dollars, as that is the primary economic environment in which the Company operates as well as the currency in which it has been financed.

The reporting currency of the Company is U.S. dollars. The Company translated its non-U.S. operations’ assets and liabilities denominated in foreign currencies into U.S. dollars at current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Translation adjustments resulting from exchange rate fluctuations are recorded as foreign currency translation adjustments, a component of accumulated other comprehensive loss. Gains or losses from foreign currency transactions are included in foreign currency exchange gains/(losses).

Use of Estimates – The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that may affect the reported amounts of assets, liabilities, equity, revenue, expenses and related disclosure of contingent assets and liabilities. Management’s estimates and judgments include assumptions used in the evaluation of impairment and useful lives of intangible assets (patents), accrued liabilities, deferred income taxes, liabilities related to warrants, stock-based compensation and various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from those estimates under different assumptions or conditions.

Fair Value Measurements – The carrying amounts of financial instruments, including cash, prepaid expenses and other current assets, accounts payable and accrued expenses approximate fair value due to their short-term maturities.

The Company accounted for unregistered warrants issued to investors and a placement agent in connection with the 2019 registered direct offering and the 2020 private placements as a warrant liability on the Consolidated Balance Sheets and measured at their grant date fair values and subsequently re-measured at each reporting period, with changes being recorded as a component of Comprehensive Income (Loss) and included in changes in fair value of warrant liabilities - gain (loss). On December 8, 2020, the Company changed the nominal currency of its ordinary shares from pounds sterling to U.S. dollars and reclassified its warrants from liabilities to shareholders' equity (See Note 4).

Cash – The Company considers all highly-liquid investments with original maturities of 90 days or less at the time of acquisition to be cash equivalents. The Company had no cash equivalents as of December 31, 2020 and December 31, 2019.

Prepaid Expenses and Other Current Assets – Prepaid expenses and other current assets consist principally of prepaid expenses and VAT receivables.

Property and Equipment, net Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets at the following annual rates:


		Years
Computers, peripheral, and scientific equipment		3
Office furniture and equipment		3

Property and equipment, consists of the following:


		December 31,		December 31,
		2020		2019
Computers, peripheral, and scientific equipment	$	85,489	$	85,489
Office furniture and equipment		79,449		79,449
Total property and equipment		164,938		164,938
Less: Accumulated depreciation		(164,938)		(159,925)
Property and equipment, net	$	—	$	5,013

Depreciation expense for the years ended December 31, 2020, 2019 and 2018 was $5,013, $15,412 and $35,473, respectively, and was recorded in both research and development expenses and general and administrative expenses in the Consolidated Statements of Comprehensive Loss.

Long-Lived Assets – The Company reviews all long-lived assets for impairment whenever events or circumstances indicate the carrying amount of such assets may not be recoverable. Recoverability of assets to be held or used is measured by comparison of the carrying value of the asset to the future undiscounted net cash flows expected to be generated by the asset. If such asset is considered to be impaired, the impairment recognized is measured by the amount by which the carrying value of the asset exceeds the discounted future cash flows expected to be generated by the asset.

Patent Acquisition Costs – Patent acquisition costs and related capitalized legal fees are amortized on a straight-line basis over the shorter of the legal or economic life. The estimated useful life is 22 years. The Company expenses costs associated with maintaining and defending patents subsequent to their issuance in the period incurred. Amortization of patent acquisition costs for the years ended December 31, 2020, 2019 and 2018 was $3,894, $3,793 and $3,895, respectively.

Accrued Expenses – As part of the process of preparing the consolidated financial statements, the Company estimates accrued expenses. This process involves identifying services that third parties have performed on the Company’s behalf and estimating the level of service performed and the associated cost incurred on these services as of each balance sheet date in the Company’s consolidated financial statements. Examples of estimated accrued expenses include contract service fees in conjunction with pre-clinical and clinical trials, professional service fees and contingent liabilities. In connection with these service fees, the Company’s estimates are most affected by its understanding of the status and timing of services provided relative to the actual services incurred by the service providers. In the event that the Company does not identify certain costs that have been incurred or it under or over-estimates the level of services or costs of such services, the Company’s reported expenses for a reporting period could be understated or overstated. The date on which certain services commence, the level of services performed on or before a given date, and the cost of services are often subject to the Company’s estimation and judgment. The Company makes these judgments based upon the facts and circumstances known to it in accordance with U.S. GAAP.

Research and Development Expenses – Costs associated with research and development are expensed as incurred unless there is an alternative future use in other research and development projects. Research and development expenses include, among other costs, salaries and personnel-related expenses, fees paid for contract research services, fees paid to clinical research organizations, costs incurred by outside laboratories, manufacturers’ and other accredited facilities in connection with clinical trials and preclinical studies.

Payments made prior to the receipt of goods or services to be used in research and development are capitalized until the goods or services are received. The Company records expenses related to clinical studies and manufacturing development activities based on its estimates of the services received and efforts expended pursuant to contracts with multiple contract research organizations (CROs) and manufacturing vendors that conduct and manage these activities on its behalf. The financial terms of these agreements are subject to negotiation, vary from contract to contract, and may result in uneven payment flows. There may be instances in which payments made to the Company's vendors will exceed the level of services provided and result in a prepayment of the expense. Payments under some of these contracts depend on factors such as the successful enrollment of subjects and the completion of clinical study milestones. In amortizing or accruing service fees, the Company estimates the time period over which services will be performed, enrollment of subjects, number of sites activated and the level of effort to be expended in each period. If the actual timing of the performance of services or the level of effort varies from the Company's estimate, the Company will adjust the accrued or prepaid expense balance accordingly.

Research and development expenses for the years ended December 31, 2020, 2019 and 2018 were $8,820,204, $8,739,420 and $11,795,376, respectively. The Company accounts for research and development tax credits at the time its realization becomes probable as a credit to research and development expenses in the Consolidated Statements of Comprehensive Loss (See Note 9). The Company realized $3,372,093 of research and development tax credits in 2020 related to the 2019 tax year, $7,907,213 in 2019 related to the 2018 and 2017 tax years and $3,794,094 in 2018 related to the 2016 tax year.

Stock-Based Compensation Expense – Stock-based compensation expense is recorded using the fair-value based method for all awards granted. Compensation costs for stock options and awards is recorded in earnings (loss) over the requisite service period based on the fair value of those options and awards. For employees, fair value is estimated at the grant date, and for non-employees, fair value is re-measured at each reporting date as required by Accounting Standards Codification (ASC) 718, “Compensation-Stock Compensation ," and Accounting Standards Updates (ASU) 2018-07, Compensation - Stock Compensation ." Stock options for non-employee directors for their services as directors acting in their role as members of a board of directors are treated as employees if those directors were elected by the employer's shareholders or appointed to a board position that will be filled by shareholder election when the existing term expires. Awards granted to those individuals for other services shall be accounted for as awards to non-employees. Fair values of awards granted under the share option plans are estimated using a Black-Scholes option pricing model. The determination of fair value for stock-based awards on the date of grant using an option pricing model requires management to make certain assumptions regarding a number of complex and subjective variables. The Company classifies its stock-based payments which are settled in ordinary shares as equity-classified awards. The Company accounts for awards of equity instruments issued to employees, non-employees and directors under the fair value method of accounting and recognizes such amounts, upon vesting, in general administrative or research and development expenses within its Consolidated Statements of Comprehensive Loss.

Leases – The Company accounts for its leases in accordance with Accounting Standards Updates (ASU) No. 2016-02, Leases (“ASU 2016-2). ASU 2016-02 establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The Company determines if an arrangement is a lease at inception. This determination generally depends on whether the arrangement conveys to the Company the right to control the use of an explicitly or implicitly identified fixed asset for a period of time in exchange for consideration. Control of an underlying asset is conveyed to the Company if the Company obtains the rights to direct the use of and to obtain substantially all of the economic benefits from using the underlying asset. Operating leases are classified as right of use ("ROU") assets, short term lease liabilities, and long-term lease liabilities. Operating lease ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. ROU assets are amortized and lease liabilities accrete to yield straight-line expense over the term of the lease. Lease payments included in the measurement of the lease liability are comprised of fixed payments. Leases with an initial term of twelve months or less are not recorded on the consolidated balance sheet and the Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company applies this policy to all underlying asset categories. Leasehold improvements are capitalized and depreciated over the lesser of useful life or lease term. As of December 31, 2020, the Company did not have a lease with a term longer than twelve months.

Concentration of Credit Risk – Financial instruments that subject the Company to credit risk consist of cash. The Company maintains cash with well-capitalized financial institutions. At times, those amounts may exceed insured limits. The Company has no other significant concentrations of credit risk.

Income Taxes – On March 27, 2020, the United States enacted the Coronavirus Aid, Relief, and Economic Security Act, referred to herein as the CARES Act, as a response to the economic uncertainty resulting from COVID-19. The CARES Act includes modifications for net operating loss carryovers and carrybacks, limitations of business interest expense for tax, immediate refund of alternative minimum tax (AMT) credit carryovers. Tax provisions of the Act also include the deferral of certain payroll taxes, relief for retaining employees, and other provisions. The Company determined that these provisions did not have a material impact on the consolidated financial statements.

The Company accounts for income taxes in accordance with the accounting rules that require an asset and liability approach to accounting for income taxes based upon the future expected values of the related assets and liabilities. Deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and for tax loss and credit carry forwards and are measured using the expected tax rates estimated to be in effect when such basis differences reverse. Valuation allowances are established, if necessary, to reduce the deferred tax asset to the amount that will, more likely than not, be realized. The Company has recorded a full valuation allowance on its deferred tax assets as of December 31, 2020 and December 31, 2019.

Uncertain Tax Positions – The Company follows the provisions of ASC 740 “Accounting for Uncertainty in Income Taxes”, which prescribes recognition thresholds that must be met before a tax position is recognized in the financial statements and provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. Under ASC 740 “Accounting for Uncertainty in Income Taxes,” an entity may only recognize or continue to recognize tax positions that meet a “more-likely-than-not” threshold. Interest and penalties related to uncertain tax positions are recognized as general and administrative expense. At December 31, 2020 and 2019, the Company had no uncertain tax positions.

Earnings (Loss) Per Share – Basic earnings (loss) per ordinary share is computed by dividing net income (loss) available to ordinary shareholders by the weighted-average number of ordinary shares outstanding during the period. Diluted earnings (loss) per ordinary share is computed by dividing net income (loss) available to ordinary shareholders by the sum of (1) the weighted-average number of ordinary shares outstanding during the period, (2) the dilutive effect of the assumed exercise of options and warrants using the treasury stock method and (3) the dilutive effect of other potentially dilutive securities. For purposes of the diluted net loss per share calculation, share options and warrants are considered to be potentially dilutive securities and are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive. Therefore, basic and diluted net loss per share was the same for the periods presented due to the Company’s net loss position.

Comprehensive Income (Loss) – Comprehensive loss is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. The Company’s other comprehensive loss is comprised of foreign currency translation adjustments.

The following table provides details with respect to changes in accumulated other comprehensive loss, which is comprised of foreign currency translation adjustments, as presented in the balance sheets at December 31, 2020, 2019 and 2018:


Balance January 1, 2018	$	(236,246)
Net current period other comprehensive income		116,180
Balance December 31, 2018	$	(352,426)
Net current period other comprehensive loss		(3,566)
Balance December 31, 2019	$	(348,860)
Net current period other comprehensive loss		(299,205)
Balance December 31, 2020	$	(648,065)

Recent Accounting Pronouncements

Adopted during the year –

On August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, which modifies certain disclosure requirements for reporting fair value measurements. ASU 2018-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted this guidance effective January 1, 2020. The adoption of the guidance did not have a material impact on the consolidated financial statements. The Company has updated its fair value footnote (Note 4) with additional and modified disclosures as required by the standard upon adoption.

In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. This standard requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected and requires measurement and recognition of expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This is different from the current guidance as this will require immediate recognition of estimated credit losses expected to occur over the remaining life of many financial assets. This standard is effective for public companies who are SEC filers for fiscal years beginning after December 15, 2019, including interim periods within those years. In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, which expands the scope of the practical expedient that allows entities to exclude the accrued interest component of amortized cost from various disclosures required by ASC 326 to also include certain disclosures required by ASC 320. Entities that elect to apply the practical expedient must disclose the total amount of accrued interest that they exclude from their disclosures of amortized cost. The amendments have the same effective dates as ASU 2016-13 (Topic 326) for entities that have not yet adopted that standard. The Company adopted ASU 2016-13 and ASU 2019-11 effective January 1, 2020. The adoption of the guidance did not have a material impact on the consolidated financial statements and accompanying notes.

Recently Issued Accounting Pronouncements Not Yet Adopted -

On December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes. ASU 2019-12 enhances and simplifies various aspects of the income tax accounting guidance in ASC 740 and removes certain exceptions for recognizing deferred taxes for investments, performing intra-period allocation and calculating income taxes in interim periods. The ASU also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. This ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years with early adoption permitted. The Company is currently evaluating the impact the adoption of this guidance may have on its consolidated financial statements.

Restatement of Previously Issued Consolidated Financial Statements

12 Months Ended

Dec. 31, 2020

Restatement of Previously Issued Consolidated Financial Statements

Restatement of Previously Issued Consolidated Financial Statements

NOTE 3 – Restatement of Previously Issued Consolidated Financial Statements

During its financial close for the year ended December 31, 2020, the Company discovered an error in its accounting for certain options, as more fully described below. The 2019 and 2018 financial statements have been restated to reflect the correction of the error, and retained earnings has been adjusted to reflect the cumulative effect of adjustments related to this error for years prior to 2018.

Restatement Background

RPC Options

On September 18, 2015, Volution Immuno Pharmaceuticals SA ("VIP") acquired Celsus Therapeutics Plc ("Celsus"), a publicly listed company. The combined entity became Akari Therapeutics, Plc and its American Depository Receipts ("ADR") trade on NASDAQ. As part of the acquisition, RPC Pharma Ltd. ("RPC Pharma") who was the sole shareholder of VIP prior to the acquisition, obtained 61.3% of the outstanding equity in the newly formed Akari Therapeutics, Plc which made RPC Pharma the majority shareholder.

Prior to the acquisition, in July 2015, VIP and RPC Pharma entered into a loan agreement pursuant to which RPC Pharma provided a short-term loan to VIP of GBP 2 million or approximately $3.1 million. The terms stipulated that the loan would provide the shareholders of RPC Pharma who participated in the funding of the loan options to purchase shares of RPC Pharma equivalent to 15% of the total outstanding equity of RPC Pharma (“RPC Options”).

In accordance with par. 11 of ASC 718, Compensation – Stock Compensation (“ASC 718”) in connection with share-based awards and more expansively in SAB 5T which addresses any transaction (e.g., paying expenses on behalf of the company), an activity by an economic interest holder (e.g., issuance of shares/options) is considered to benefit the company and be on behalf of the company. As such, it is to be accounted for by the Company. Further, when financial instruments are issued with warrants, options or shares, the proceeds are allocated to the various instruments under either the relative fair value method or the residual method (if equity instruments are liabilities).

In accordance with ASC 718, the Company initially accounted for the RPC Options as a Liability related to options within Current Liabilities and they were recognized at their fair value. The initial fair value of RPC Options was $26,004,442 as of September 30, 2015. The Company re-measured its liability related to RPC Options on a recurring basis at fair value, in accordance with ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), with changes in the fair value accounted for in the Consolidated Statements of Comprehensive Income (Loss) and included in Changes in fair value of option/warrant liabilities – gain (loss). During the fourth quarter of 2020, the Company reviewed the accounting of the RPC Options and concluded that because the RPC Options do not constitute a legal liability to the Company, these options should have been accounted for as equity and included in Additional-paid in capital in Shareholders’ Equity in the Consolidated Balance Sheet as of September 30, 2015.

On April 16, 2021, the Company’s management conferred with the Audit Committee of the Company’s Board of Directors and concluded that (1) the RPC Options do not constitute a legal liability to the Company and should have been accounted for as an equity instrument during the Company’s 2015 fiscal year and (2) the Company should have used the Black-Scholes Option Pricing Model (“BSOPM”) in order to estimate the fair value of the RPC Options, given the relatively simple nature of the subject options.

The RPC Options were originally issued on 15% of the total capital of RPC Pharma, a closely held private company, and therefore represented potentially significant dilution. The Company’s initial valuation of the RPC Options did not capture this potential dilutive effect. However, in determining the equity value of the RPC Options, the Company’s management further considered the RPC Options on a diluted basis. Using the diluted basis assumes that the holder of the options would currently anticipate dilution in the per share equity value should the RPC Options be exercised in the future. Furthermore, consideration was given to FASB ASC 260 Earnings Per Share and given that the RPC Options when exercised will not generate additional substantial value to RPC Pharma because of the low exercise price, the RPC Options were deemed similar to already issued shares of common stock. As a result, the Company’s management determined that the fair value of the RPC Options on a diluted basis most accurately reflected fair value. As of September 30, 2015, the fair value of the RPC Options on a diluted basis amounted to approximately $22,598,000.

Due to the errors noted above, as to the incorrect balance sheet classification and incorrect valuation of the RPC Options when originally issued in 2015, and the subsequent incorrect revaluation of the options in each quarter and year end period since 2015, the Company’s management has concluded that the financial statements contained in the Company’s Annual Reports on Form 20-F for the years ended December 31, 2015 through 2019, as well as the unaudited condensed consolidated financial statements contained in the quarterly reports on Form 6-K for each quarter within these years, as well as the quarterly periods ended March 31, 2020, June 2020 and September 2020, should be restated. For practical purposes, the Company has reflected the cumulative adjustments relating to the years ended 2015 through 2017 as an adjustment to retained earnings for the year ended December 31, 2018.

Other adjustments

In addition to the errors identified above, the restated financial statements also include adjustments to correct certain other immaterial errors, including previously unrecorded immaterial adjustments in audits of prior years’ financial statements.

These misstatements, both individually and in the aggregate, had no material impact to previously reported total cash flows from operations, investing or financing activities and did not have a material impact on earnings per share for the years ended December 31, 2019 and 2018.

CONSOLIDATED BALANCE SHEETS

(in U.S. Dollars, except share data)


	December 31, 2019
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Assets
Current Assets:
Cash	$	5,731,691	$	—	$	—		5,731,691

Prepaid expenses and other current assets		712,975		—		—		712,975
Deferred financing costs		321,956		—		(321,956)		—
Total Current Assets		6,766,622		—		(321,956)		6,444,666

Property and equipment, net		5,013		—		—		5,013
Patent acquisition costs, net		30,163		—		—		30,163
Total Assets	$	6,801,798	$	—	$	(321,956)	$	6,479,842

Liabilities and Shareholders' (Deficiency) Equity

Current Liabilities:
Accounts payable	$	1,228,772	$	—	$	—	$	1,228,772
Accrued expenses		4,228,604		—		—		4,228,604
Liability related to stock options and warrants		3,116,880		(2,102,012)		—		1,014,868
Total Liabilities		8,574,256		(2,102,012)		—		6,472,244

Commitments and Contingencies

Shareholders' (Deficiency) Equity:
Share capital of $0.0001 par value Authorized: 10,000,000,000 ordinary shares; issued and outstanding: 2,245,865,913 at December 31, 2019 respectively		31,987,016						31,987,016
Additional paid-in capital		110,498,824		22,598,000		471,812		133,568,636
Accumulated other comprehensive loss		(348,860)		—		—		(348,860)
Accumulated deficit		(143,909,438)		(20,495,988)		(793,768)		(165,199,194)
Total Shareholders' (Deficiency) Equity		(1,772,458)		2,102,012		(321,956)		7,598
Total Liabilities and Shareholders' (Deficiency) Equity	$	6,801,798	$	—	$	(321,956)	$	6,479,842

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(in U.S. Dollars, except share data)


	Year Ended December 31, 2019
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	8,739,420	$	—	$	—	$	8,739,420
General and administrative expenses		8,223,700		—		—		8,223,700
Total Operating Expenses		16,963,120		—		—		16,963,120
Loss from Operations		(16,963,120)		—		—		(16,963,120)

Other Income (Expenses):
Interest income		5,531		—		—		5,531
Changes in fair value of option liabilities - (loss) gain		(60,640)		259,588		—		198,948
Foreign currency exchange losses		(67,256)		—		—		(67,256)
Other expenses		(20,306)		—		—		(20,306)
Total Other Income (Expenses)		(142,671)		259,588		—		116,917

Net Loss		(17,105,791)		259,588		—		(16,846,203)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		3,566		—		—		3,566

Comprehensive Loss	$	(17,102,225)	$	259,588	$	—	$	(16,842,637)

Loss per ordinary share (basic and diluted)	$	(0.01)					$	(0.01)

Weighted average ordinary shares (basic and diluted)		1,830,998,609						1,830,998,609

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(in U.S. Dollars, except share data)


	Year Ended December 31, 2018
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	11,795,376	$	—	$	—	$	11,795,376
General and administrative expenses		10,896,158		—		793,768		11,689,926
Litigation settlement gain		(2,700,000)		—		—		(2,700,000)
Total Operating Expenses		19,991,534		—		793,768		20,785,302
Loss from Operations		(19,991,534)		—		(793,768)		(20,785,302)

Other Income (Expenses):
Interest income		222,256		—		—		222,256
Changes in fair value of option liabilities - gain		3,238,911		(3,238,911)		—		—
Foreign currency exchange gains		81,501		—		—		81,501
Other expenses		(17,914)		—		—		(17,914)
Total Other Income (Expenses)		3,524,754		(3,238,911)		—		285,843

Net Loss		(16,466,780)		(3,238,911)		(793,768)		(20,499,459)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(116,180)		—		—		(116,180)

Comprehensive Loss	$	(16,582,960)	$	(3,238,911)	$	(793,768)	$	(20,615,639)

Loss per ordinary share (basic and diluted)	$	(0.01)					$	(0.01)

Weighted average ordinary shares (basic and diluted)		1,540,309,840						1,540,309,840

CONSOLIDATED STATEMENT OF CHANGES TO SHAREHOLDERS’ EQUITY (DEFICIT)

(in U.S. dollars, except share data)


	As Previously Reported							As Restated
	For the Year Ended			RPC		Other		For the Year Ended
	December 31, 2020			Adjustment		Adjustments		December 31, 2020
	Shares	Amount						Shares	Amount
Share Capital:
Balance January 1	2,245,865,913	$	31,987,016	$	—	$	—	2,245,865,913	$	31,987,016
Ordinary shares issued	627,029,600		8,098,632		—		—	627,029,600		8,098,632
Balance March 31	2,872,895,513		40,085,648		—		—	2,872,895,513		40,085,648
Ordinary shares issued	471,666,700		5,953,175				—	471,666,700		5,953,175
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital	40,760,900		523,778		—		—	40,760,900		523,778
Exercise of warrants	1,250,000		15,941		—		—	1,250,000		15,941
Balance June 30	3,386,573,113		46,578,543		—		—	3,386,573,113		46,578,543
Ordinary shares issued	—		—		—		—	—		—
Balance September 30	3,386,573,113		46,578,543		—		—	3,386,573,113		46,578,543

Additional Paid-In Capital:
Balance January 1			110,498,824		22,598,000		471,812			133,568,636
Ordinary shares issued			(1,003,264)		—		33,251			(970,013)
Stock-based compensation			100,504		—		—			100,504
Balance March 31			109,596,064		22,598,000		505,063			132,699,127
Ordinary shares issued			2,941,966		—		288,705			3,230,671
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital			376,222		—		—			376,222
Exercise of warrants			11,559		—		—			11,559
Stock-based compensation			63,330		—		—			63,330
Balance June 30			112,989,141		22,598,000		793,768			136,380,909
Stock-based compensation			81,107		—		—			81,107
Balance September 30			113,070,248		22,598,000		793,768			136,462,016

Accumulated Other Comprehensive Loss:
Balance January 1			(348,860)		—		—			(348,860)
Comprehensive loss			(222,725)		—		—			(222,725)
Balance March 31			(571,585)		—		—			(571,585)
Comprehensive loss			(46,037)		—		—			(46,037)
Balance June 30			(617,622)		—		—			(617,622)
Comprehensive loss			(3,676)		—		—			(3,676)
Balance September 30			(621,298)		—		—			(621,298)

Accumulated Deficit:
Balance January 1			(143,909,438)		(20,495,988)		(793,768)			(165,199,194)
Comprehensive loss			(3,385,062)		(360,345)		—			(3,745,407)
Balance March 31			(147,294,500)		(20,856,333)		(793,768)			(168,944,601)
Comprehensive loss			(8,316,655)		876,840		—			(7,439,815)
Balance June 30			(155,611,155)		(19,979,493)		(793,768)			(176,384,416)
Comprehensive income			1,441,960		(528,506)		—			913,454
Balance September 30			(154,169,195)		(20,507,999)		(793,768)			(175,470,962)

Total Shareholders' Equity		$	4,858,298	$	2,090,001	$	—		$	6,948,299

CONSOLIDATED STATEMENT OF CHANGES TO SHAREHOLDERS’ EQUITY (DEFICIT)

(in U.S. dollars, except share data)


	As Previously Reported							As Restated
	For the Year Ended			RPC		Other		For the Year Ended
	December 31, 2019			Adjustment		Adjustments		December 31, 2019
	Shares	Amount						Shares		Amount
Share Capital:
Balance January 1	1,580,693,413	$	23,651,277	$	—	$	—		1,580,693,413	$	23,651,277
Ordinary shares issued	5,000,000		65,598		—		—		5,000,000		65,598
Balance March 31	1,585,693,413		23,716,875		—		—		1,585,693,413		23,716,875
Ordinary shares issued	65,000,000		821,262		—		—		65,000,000		821,262
Balance June 30	1,650,693,413		24,538,137		—		—		1,650,693,413		24,538,137
Ordinary shares issued	450,172,500		5,585,564		—		—		450,172,500		5,585,564
Balance September 30	2,100,865,913		30,123,701		—		—		2,100,865,913		30,123,701
Ordinary shares issued	145,000,000		1,863,315		—		—		145,000,000		1,863,315
Balance December 31	2,245,865,913	$	31,987,016	$	—	$	—		2,245,865,913	$	31,987,016

Additional Paid-In Capital:
Balance January 1		$	106,616,083	$	22,598,000	$	208,768			$	129,422,851
Ordinary shares issued			86,955		—		5,190				92,145
Stock-based compensation			394,439		—		—				394,439
Balance March 31			107,097,477		22,598,000		213,958				129,909,435
Ordinary shares issued			453,737		—		41,085				494,822
Stock-based compensation			409,622		—		—				409,622
Balance June 30			107,960,836		22,598,000		255,043				130,813,879
Ordinary shares issued			1,461,996		—		136,682				1,598,678
Stock-based compensation			137,385		—		—				137,385
Balance September 30			109,560,217		22,598,000		391,725				132,549,942
Ordinary shares issued			832,666		—		80,087				912,753
Stock-based compensation			105,941		—		—				105,941
Balance December 31		$	110,498,824	$	22,598,000	$	471,812			$	133,568,636
			—

Accumulated Other Comprehensive Loss:
Balance January 1		$	(352,426)	$	—	$	—			$	(352,426)
Comprehensive income (loss)			107,168		—		—				107,168
Balance March 31			(245,258)		—		—				(245,258)
Comprehensive income (loss)			(160,116)		—		—				(160,116)
Balance June 30			(405,374)		—		—				(405,374)
Comprehensive income (loss)			3,281		—		—				3,281
Balance September 30			(402,093)		—		—				(402,093)
Comprehensive income (loss)			53,233		—		—				53,233
Balance December 31		$	(348,860)	$	—	$	—			$	(348,860)

Accumulated Deficit:
Balance January 1		$	(126,803,647)	$	(20,755,576)	$	(793,768)			$	(148,352,991)
Comprehensive income (loss)			(2,545,283)		2,358,772		—				(186,511)
Balance March 31			(129,348,930)		(18,396,804)		(793,768)				(148,539,502)
Comprehensive income (loss)			(4,117,084)		(1,830,689)		—				(5,947,773)
Balance June 30			(133,466,014)		(20,227,493)		(793,768)				(154,487,275)
Comprehensive income (loss)			(2,565,354)		(316,541)		—				(2,881,895)
Balance September 30			(136,031,368)		(20,544,034)		(793,768)				(157,369,170)
Comprehensive income (loss)			(7,878,070)		48,046		—				(7,830,024)
Balance December 31		$	(143,909,438)	$	(20,495,988)	$	(793,768)			$	(165,199,194)

Total Shareholders' Equity		$	(1,772,458)	$	2,102,012	$	(321,956)			$	7,598

CONSOLIDATED STATEMENT OF CHANGES TO SHAREHOLDERS’ EQUITY (DEFICIT)

(in U.S. dollars, except share data)


	As Previously Reported							As Restated
	For the Year Ended			RPC		Other		For the Year Ended
	December 31, 2018			Adjustment		Adjustments		December 31, 2018
	Shares	Amount						Shares	Amount
Share Capital:
Balance January 1	1,525,693,393	$	22,927,534	$	—	$	—	1,525,693,393	$	22,927,534
Ordinary shares issued	—		—		—		—	—		—
Balance March 31	1,525,693,393		22,927,534		—		—	1,525,693,393		22,927,534
Ordinary shares issued	—		—		—		—	—		—
Balance June 30	1,525,693,393		22,927,534		—		—	1,525,693,393		22,927,534
Issuance of share capital to directors	20		—		—		—	20		—
Issuance of share capital related to financing, net of issuance costs	55,000,000		723,743		—		—	55,000,000		723,743
Balance September 30	1,580,693,413		23,651,277		—		—	1,580,693,413		23,651,277
Ordinary shares issued	—		—		—		—	—		—
Balance December 31	1,580,693,413	$	23,651,277	$	—	$	—	1,580,693,413	$	23,651,277
Additional Paid-In Capital:
Balance January 1		$	104,799,550	$	22,598,000	$	—		$	127,397,550
Stock-based compensation			475,958				—			475,958
Balance March 31			105,275,508		22,598,000		—			127,873,508
Stock-based compensation			351,981				—			351,981
Balance June 30			105,627,489		22,598,000		—			128,225,489
Issuance of share capital to directors			—		—		—
Issuance of share capital related to financing, net of issuance costs			207,829		—		64,455			272,284
Stock-based compensation			403,769		—		—			403,769
Balance September 30			106,239,087		22,598,000		64,455			128,901,542
Issuance of share capital related to financing, net of issuance costs			(40,340)		—		144,313			103,973
Stock-based compensation			417,336		—		—			417,336
Balance December 31		$	106,616,083	$	22,598,000	$	208,768		$	129,422,851
Accumulated Other Comprehensive Loss:
Balance January 1		$	(236,246)	$	—	$	—		$	(236,246)
Comprehensive income (loss)			32,799		—		—			32,799
Balance March 31			(203,447)		—		—			(203,447)
Comprehensive income (loss)			(27,188)		—		—			(27,188)
Balance June 30			(230,635)		—		—			(230,635)
Comprehensive income (loss)			(65,848)		—		—			(65,848)
Balance September 30			(296,483)		—		—			(296,483)
Comprehensive income (loss)			(55,943)		—		—			(55,943)
Balance December 31		$	(352,426)	$	—	$	—		$	(352,426)
Accumulated Deficit:
Balance January 1		$	(110,336,867)	$	(17,516,665)	$	—		$	(127,853,532)
Comprehensive income (loss)			(1,338,575)		(2,945,531)		—			(4,284,106)
Balance March 31			(111,675,442)		(20,462,196)		—			(132,137,638)
Comprehensive income (loss)			(8,022,196)		152,557		—			(7,869,639)
Balance June 30			(119,697,638)		(20,309,639)					(140,007,277)
Comprehensive income (loss)			(3,593,255)		715,846		(649,455)			(3,526,864)
Balance September 30			(123,290,893)		(19,593,793)		(649,455)			(143,535,141)
Comprehensive income (loss)			(3,512,754)		(1,161,783)		(144,313)			(4,818,850)
Balance December 31		$	(126,803,647)	$	(20,755,576)	$	(793,768)		$	(148,352,991)

Total Shareholders' Equity		$	3,111,287	$	1,842,424	$	(585,000)		$	4,368,711

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in U.S. Dollars )


		Year Ended December 31, 2019
	As Previously		RPC		Other			As
	Reported		Adjustment		Adjustments			Restated
Cash Flows from Operating Activities:
Net loss	$	(17,105,791)	$	259,588	$	—	$	(16,846,203)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		19,205		—		—		19,205
Stock-based compensation		1,047,387		—		—		1,047,387
Changes in fair value of the liability for options and warrants		60,640		(259,588)		—		(198,948)
Foreign currency exchange (gains) loss		(30,366)		—		—		(30,366)
Changes in operating assets and liabilities:
Decrease in assets:
Prepaid expenses and other current assets		710,335		—		—		710,335
Increase in liabilities:
Accounts payable and accrued expenses		2,380,277		—		—		2,380,277
Total adjustments		4,187,478		(259,588)		—		3,927,890
Net Cash Used in Operating Activities		(12,918,313)		—		—		(12,918,313)

Cash Flows from Financing Activities:
Net proceeds from issuance of shares		12,647,953		—		—		12,647,953
Net Cash Provided by Financing Activities		12,647,953		—		—		12,647,953

Effect of Exchange Rates on Cash		34,084		—		—		34,084

Net (Decrease) in Cash		(236,276)		—		—		(236,276)
Cash, beginning of period		5,967,967		—		—		5,967,967
Cash, end of period	$	5,731,691	$	—	$	—	$	5,731,691

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in U.S. Dollars )


	Year Ended December 31, 2018
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Cash Flows from Operating Activities:
Net loss	$	(16,466,780)	$	(3,238,911)	$	(793,768)	$	(20,499,459)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		35,848		—		—		35,848
Stock-based compensation		1,649,044		—		—		1,649,044
Financing Expense		—		—		600,000		600,000
Changes in fair value of the liability for options and warrants		(3,238,911)		3,238,911		—		—
Foreign currency exchange (gains) loss		(104,719)		—		—		(104,719)
Changes in operating assets and liabilities:
(Increase) in assets:
Prepaid expenses and other current assets		(716,859)		—		—		(716,859)
(Decrease) in liabilities:								—
Accounts payable and accrued expenses		(3,689,860)		—		—		(3,689,860)
Other liabilities		(48,003)		—		—		(48,003)
Total adjustments		(6,113,460)		3,238,911		600,000		(2,274,549)
Net Cash Used in Operating Activities		(22,580,240)		—		(193,768)		(22,774,008)

Cash Flows from Financing Activities:
Net proceeds from issuance of shares		306,232		—		193,768		500,000
Net Cash Provided by Financing Activities		306,232		—		193,768		500,000

Effect of Exchange Rates on Cash		(6,931)		—		—		(6,931)

Net (Decrease) in Cash		(22,280,939)		—		—		(22,280,939)
Cash, beginning of period		28,248,906		—		—		28,248,906
Cash, end of period	$	5,967,967	$	—	$	—	$	5,967,967

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED

(in U.S. Dollars, except share data)


	March 31,
	2020
	As
	Previously		RPC		Other		As
	Reported		Adjustments		Adjustment		Restated
Assets
Current Assets:
Cash	$	7,822,180	$	—	$	—	$	7,822,180
Prepaid expenses and other current assets		1,828,444		—		—		1,828,444
Deferred financing costs		288,705		—		(288,705)		—
Total Current Assets		9,939,329		—		(288,705)		9,650,624

Property and equipment, net		2,096		—		—		2,096
Patent acquisition costs, net		27,566		—		—		27,566
Total Assets	$	9,968,991	$	—	$	(288,705)	$	9,680,286

Liabilities and Shareholders' (Deficiency) Equity

Current Liabilities:
Accounts payable	$	966,059	$	—	$	—	$	966,059
Accrued expenses		2,630,857		—		—		2,630,857
Liability related to stock options and warrants		4,556,448		(1,741,667)		—		2,814,781
Total Liabilities		8,153,364		(1,741,667)		—		6,411,697

Commitments and Contingencies

Shareholders' (Deficiency) Equity:
Share capital of $0.0001 par value Authorized: 10,000,000,000 ordinary shares; issued and outstanding: 2,872,895,513 at March 31, 2020		40,085,648		—		—		40,085,648
Additional paid-in capital		109,596,064		22,598,000		505,063		132,699,127
Accumulated other comprehensive loss		(571,585)		—		—		(571,585)
Accumulated deficit		(147,294,500)		(20,856,333)		(793,768)		(168,944,601)
Total Shareholders' Equity (Deficiency)		1,815,627		1,741,667		(288,705)		3,268,589
Total Liabilities and Shareholders' Equity (Deficiency)	$	9,968,991	$	—	$	(288,705)	$	9,680,286

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED

(in U.S. Dollars, except share data)


	June 30,
	2020
	As
	Previously		RPC		Other		As
	Reported		Adjustments		Adjustment		Restated
Assets
Current Assets:
Cash	$	12,746,266	$	—	$	—	$	12,746,266
Prepaid expenses and other current assets		1,679,425		—		—		1,679,425
Total Current Assets		14,425,691		—		—		14,425,691

Patent acquisition costs, net		26,489		—		—		26,489
Total Assets	$	14,452,180	$	—	$	—	$	14,452,180

Liabilities and Shareholders' Equity

Current Liabilities:
Accounts payable	$	2,191,168	$	—	$	—	$	2,191,168
Accrued expenses		1,941,083		—		—		1,941,083
Liability related to stock options and warrants		6,981,022		(2,618,507)		—		4,362,515
Total Liabilities		11,113,273		(2,618,507)		—		8,494,766

Commitments and Contingencies

Shareholders' Equity:
Share capital of $0.0001 par value Authorized: 10,000,000,000 ordinary shares; issued and outstanding: 3,386,573,113 at June 30, 2020		46,578,543		—		—		46,578,543
Additional paid-in capital		112,989,141		22,598,000		793,768		136,380,909
Accumulated other comprehensive loss		(617,622)						(617,622)
Accumulated deficit		(155,611,155)		(19,979,493)		(793,768)		(176,384,416)
Total Shareholders' Equity		3,338,907		2,618,507		—		5,957,414
Total Liabilities and Shareholders' Equity	$	14,452,180	$	—	$	—	$	14,452,180

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED

(in U.S. Dollars, except share data)


	September 30,
	2020
	As
	Previously		RPC		Other		As
	Reported		Adjustments		Adjustment		Restated
Assets
Current Assets:
Cash	$	12,317,798	$	—	$	—	$	12,317,798
Prepaid expenses and other current assets		1,349,244		—		—		1,349,244
Total Current Assets		13,667,042		—		—		13,667,042

Patent acquisition costs, net		26,674		—		—		26,674
Total Assets	$	13,693,716	$	—	$	—	$	13,693,716

Liabilities and Shareholders' Equity

Current Liabilities:
Accounts payable	$	2,410,530	$	—	$	—	$	2,410,530
Accrued expenses		975,893		—		—		975,893
Liability related to stock options and warrants		5,448,995		(2,090,001)		—		3,358,994
Total Liabilities		8,835,418		(2,090,001)		—		6,745,417

Commitments and Contingencies

Shareholders' Equity:
Share capital of $0.0001 par value
Authorized: 10,000,000,000 ordinary shares; issued and outstanding:
3,386,573,113 at September 30, 2020		46,578,543		—		—		46,578,543
Additional paid-in capital		113,070,248		22,598,000		793,768		136,462,016
Accumulated other comprehensive loss		(621,298)		—		—		(621,298)
Accumulated deficit		(154,169,195)		(20,507,999)		(793,768)		(175,470,962)
Total Shareholders' Equity		4,858,298		2,090,001		—		6,948,299
Total Liabilities and Shareholders' Equity	$	13,693,716	$	—	$	—	$	13,693,716

CONDENSED CONSOLIDATED BALANCE SHEETS- UNAUDITED

(in U.S. Dollars, except share data)


	March 31,
	2019
	As Previously		RPC		Other		As
	Reported		Adjustments		Adjustment		Restated
Assets
Current Assets:
Cash	$	6,145,555	$	—	$	—	$	6,145,555
Prepaid expenses and other current assets		1,887,780		—		—		1,887,780
Deferred financing costs		579,810		—		(579,810)		—
Total Current Assets		8,613,145		—		(579,810)		8,033,335

Restricted cash		147,924		—		—		147,924
Property and equipment, net		15,834		—		—		15,834
Patent acquisition costs, net		32,867		—		—		32,867
Total Assets	$	8,809,770	$	—	$	(579,810)	$	8,229,960

Liabilities and Shareholders' Equity (Deficiency)

Current Liabilities:
Accounts payable	$	1,763,182	$	—	$	—	$	1,763,182
Accrued expenses		1,625,228		—		—		1,625,228
Liability related to stock options and warrants		4,201,196		(4,201,196)		—		—
Total Liabilities		7,589,606		(4,201,196)		—		3,388,410

Commitments and Contingencies

Shareholders' Equity (Deficiency):
Share capital of $0.0001 par value Authorized: 10,000,000,000 ordinary shares; issued and outstanding: 1,585,693,413 at March 31, 2019		23,716,875		—		—		23,716,875
Additional paid-in capital		107,097,477		22,598,000		213,958		129,909,435
Accumulated other comprehensive loss		(245,258)		—		—		(245,258)
Accumulated deficit		(129,348,930)		(18,396,804)		(793,768)		(148,539,502)
Total Shareholders' Equity (Deficiency)		1,220,164		4,201,196		(579,810)		4,841,550
Total Liabilities and Shareholders' Equity (Deficiency)	$	8,809,770	$	—	$	(579,810)	$	8,229,960

CONDENSED CONSOLIDATED BALANCE SHEETS- UNAUDITED

(in U.S. Dollars, except share data)


	June 30,
	2019
	As Previously		RPC		Other		As
	Reported		Adjustments		Adjustment		Restated
Assets
Current Assets:
Cash	$	2,736,663	$	—	$	—	$	2,736,663
Prepaid expenses and other current assets		1,747,365		—		—		1,747,365
Deferred financing costs		606,508		—		(538,725)		67,783
Total Current Assets		5,090,536		—		(538,725)		4,551,811

Restricted cash		17,364		—		—		17,364
Property and equipment, net		12,056		—		—		12,056
Patent acquisition costs, net		31,065		—		—		31,065
Total Assets	$	5,151,021	$	—	$	(538,725)	$	4,612,296

Liabilities and Shareholders' (Deficiency) Equity

Current Liabilities:
Accounts payable	$	1,481,536	$	—	$	—	$	1,481,536
Accrued expenses		2,671,393		—		—		2,671,393
Liability related to stock options and warrants		2,370,507		(2,370,507)		—		—
Total Liabilities		6,523,436		(2,370,507)		—		4,152,929

Commitments and Contingencies

Shareholders' (Deficiency) Equity:
Share capital of $0.0001 par value Authorized: 10,000,000,000 ordinary shares; issued and outstanding: 1,650,693,413 at June 30, 2019		24,538,137		—		—		24,538,137
Additional paid-in capital		107,960,836		22,598,000		255,043		130,813,879
Accumulated other comprehensive loss		(405,374)		—		—		(405,374)
Accumulated deficit		(133,466,014)		(20,227,493)		(793,768)		(154,487,275)
Total Shareholders' (Deficiency) Equity		(1,372,415)		2,370,507		(538,725)		459,367
Total Liabilities and Shareholders' (Deficiency) Equity	$	5,151,021	$	—	$	(538,725)	$	4,612,296

CONDENSED CONSOLIDATED BALANCE SHEETS- UNAUDITED

(in U.S. Dollars, except share data)


	September 30,
	2019
	As Previously		RPC		Other		As
	Reported		Adjustments		Adjustment		Restated
Assets
Current Assets:
Cash	$	6,268,667	$	—	$	—	$	6,268,667
Tax credit receivable		2,902,987		—		—		2,902,987
Prepaid expenses and other current assets		1,058,527		—		—		1,058,527
Deferred financing costs		402,042		—		(402,042)		—
Total Current Assets		10,632,223		—		(402,042)		10,230,181

Property and equipment, net		8,388		—		—		8,388
Patent acquisition costs, net		29,147		—		—		29,147
Total Assets	$	10,669,758	$	—	$	(402,042)	$	10,267,716

Liabilities and Shareholders' (Deficiency) Equity

Current Liabilities:
Accounts payable	$	1,315,411	$	—	$	—	$	1,315,411
Accrued expenses		3,035,056		—		—		3,035,056
Liability related to stock options and warrants		3,068,834		(2,053,965)		—		1,014,869
Total Liabilities		7,419,301		(2,053,965)		—		5,365,336

Commitments and Contingencies

Shareholders' (Deficiency) Equity:
Share capital of $0.0001 par value Authorized: 10,000,000,000 ordinary shares; issued and outstanding: 2,100,865,913 at September 30, 2019		30,123,701		—		—		30,123,701
Additional paid-in capital		109,560,217		22,598,000		391,726		132,549,942
Capital redemption reserve								—
Accumulated other comprehensive loss		(402,093)						(402,093)
Accumulated deficit		(136,031,368)		(20,544,034)		(793,768)		(157,369,170)
Total Shareholders' Equity (Deficiency)		3,250,457		2,053,965		(402,042)		4,902,380
Total Liabilities and Shareholders' Equity	$	10,669,758	$	—	$	(402,042)	$	10,267,716

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Three Months Ended March 31, 2020
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	2,732,165	$	—	$	—	$	2,732,165
General and administrative expenses		2,194,809		—		—		2,194,809
Total Operating Expenses		4,926,974		—		—		4,926,974
Loss from Operations		(4,926,974)		—		—		(4,926,974)

Other Income (Expenses):
Interest income		1,010		—		—		1,010
Changes in fair value of option liabilities - gain		1,309,801		(360,345)		—		949,456
Foreign currency exchange gains		233,404		—		—		233,404
Other expenses		(2,303)		—		—		(2,303)
Total Other Income (Expenses)		1,541,912		(360,345)		—		1,181,567

Net Loss		(3,385,062)		(360,345)		—		(3,745,407)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(222,725)		—		—		(222,725)

Comprehensive Loss	$	(3,607,787)	$	(360,345)	$	—	$	(3,968,132)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		2,516,280,709						2,516,280,709

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Three Months Ended June 30, 2020
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	3,020,432	$	—	$	—	$	3,020,432
General and administrative expenses		2,891,177		—		—		2,891,177
Total Operating Expenses		5,911,609		—		—		5,911,609
Loss from Operations		(5,911,609)		—		—		(5,911,609)

Other Income (Expenses):
Interest income		1,152		—		—		1,152
Changes in fair value of option liabilities - (loss)		(2,432,449)		876,840		—		(1,555,609)
Foreign currency exchange gains		27,992		—		—		27,992
Other expenses		(1,741)		—		—		(1,741)
Total Other Income (Expenses)		(2,405,046)		876,840		—		(1,528,206)

Net Loss		(8,316,655)		876,840		—		(7,439,815)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(46,037)		—		—		(46,037)

Comprehensive Loss	$	(8,362,692)	$	876,840	$	—	$	(7,485,852)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		3,002,482,637						3,002,482,637

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Six Months Ended June 30, 2020
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	5,752,597	$	—	$	—	$	5,752,597
General and administrative expenses		5,085,986		—		—		5,085,986
Total Operating Expenses		10,838,583		—		—		10,838,583
Loss from Operations		(10,838,583)		—		—		(10,838,583)

Other Income (Expenses):
Interest income		2,162		—		—		2,162
Changes in fair value of option liabilities - (loss)		(1,122,648)		516,495		—		(606,153)
Foreign currency exchange gains		261,396		—		—		261,396
Other expenses		(4,044)		—		—		(4,044)
Total Other Income (Expenses)		(863,134)		516,495		—		(346,639)

Net Loss		(11,701,717)		516,495		—		(11,185,222)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(268,762)		—		—		(268,762)

Comprehensive Loss	$	(11,970,479)	$	516,495	$	—	$	(11,453,984)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		2,759,381,673						2,759,381,673

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - UNAUDITED

(in U.S. Dollars)


	Three Months Ended September 30, 2020
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	(1,592,531)	$	—	$	—	$	(1,592,531)
General and administrative expenses		1,839,414		—		—		1,839,414
Total Operating Expenses		246,883		—		—		246,883
Loss from Operations		(246,883)		—		—		(246,883)

Other Income (Expenses):
Interest income		6,132		—		—		6,132
Changes in fair value of option liabilities - gain		1,532,027		(528,506)		—		1,003,521
Foreign currency exchange gains		156,360		—		—		156,360
Other expenses		(5,676)		—		—		(5,676)
Total Other Income (Expenses)		1,688,843		(528,506)		—		1,160,337

Net Income / (Loss)		1,441,960		(528,506)		—		913,454

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(3,676)		—		—		(3,676)

Comprehensive Income / (Loss)	$	1,438,284	$	(528,506)	$	—	$	909,778

Loss per ordinary share (basic and diluted)	$	0.00					$	0.00
Weighted average ordinary shares (basic and diluted)		3,386,573,113						3,386,573,113

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(in U.S. Dollars)


	Nine Months Ended September 30, 2020
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	4,160,066	$	—	$	—	$	4,160,066
General and administrative expenses		6,925,400		—		—		6,925,400
Total Operating Expenses		11,085,466		—		—		11,085,466
Loss from Operations		(11,085,466)		—		—		(11,085,466)

Other Income (Expenses):
Interest income		8,294		—		—		8,294
Changes in fair value of option liabilities - gain		409,379		(12,011)		—		397,368
Foreign currency exchange gains		417,756		—		—		417,756
Other expenses		(9,720)		—		—		(9,720)
Total Other Income (Expenses)		825,709		(12,011)		—		813,698

Net Loss		(10,259,757)		(12,011)		—		(10,271,768)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(272,438)		—		—		(272,438)

Comprehensive Loss	$	(10,532,195)	$	(12,011)	$	—	$	(10,544,206)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		3,336,002,895						3,336,002,895

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Three Months Ended March 31, 2019
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustment		Restated
Operating Expenses:
Research and development income	$	(2,318,360)	$	—	$	—	$	(2,318,360)
General and administrative expenses		2,306,398		—		—		2,306,398
Total Operating Expenses		(11,962)		—		—		(11,962)
Gain from Operations		11,962		—		—		11,962

Other Income (Expenses):				—		—
Interest income		1,286		—		—		1,286
Changes in fair value of option liabilities - (loss)		(2,358,772)		2,358,772		—		—
Foreign currency exchange losses		(195,635)		—		—		(195,635)
Other expenses		(4,124)		—		—		(4,124)
Total Other Income (Expenses)		(2,557,245)		2,358,772		—		(198,473)

Net Loss		(2,545,283)		2,358,772		—		(186,511)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		107,168		—		—		107,168
				—		—
Comprehensive Loss	$	(2,438,115)	$	2,358,772	$	—	$	(79,343)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		1,580,860,080						1,580,860,080

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Three Months Ended June 30, 2019
	As Previously		RPC			Other	As
	Reported		Adjustment		Adjustments			Restated
Operating Expenses:
Research and development expenses	$	3,593,341	$	—	$	—	$	3,593,341
General and administrative expenses		2,438,106		—		—		2,438,106
Total Operating Expenses		6,031,447		—		—		6,031,447
Loss from Operations		(6,031,447)		—		—		(6,031,447)

Other Income (Expenses):
Interest income		449		—		—		449
Changes in fair value of option liabilities - gain		1,830,689		(1,830,689)		—		—
Foreign currency exchange gains		86,438		—		—		86,438
Other expenses		(3,213)		—		—		(3,213)
Total Other Income (Expenses)		1,914,363		(1,830,689)				83,674

Net Loss		(4,117,084)		(1,830,689)		—		(5,947,773)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(160,116)		—		—		(160,116)

Comprehensive Loss	$	(4,277,200)	$	(1,830,689)	$	—	$	(6,107,889)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		1,607,121,984						1,607,121,984

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Six Months Ended June 30, 2019
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	1,274,981	$	—	$	—	$	1,274,981
General and administrative expenses		4,744,504		—		—		4,744,504
Total Operating Expenses		6,019,485		—		—		6,019,485
Loss from Operations		(6,019,485)		—		—		(6,019,485)

Other Income (Expenses):
Interest income		1,735		—		—		1,735
Changes in fair value of option liabilities - (loss)		(528,083)		528,083				—
Foreign currency exchange losses		(109,198)		—		—		(109,198)
Other expenses		(7,336)		—		—		(7,336)
Total Other Income (Expenses)		(642,882)		528,083		—		(114,799)

Net Loss		(6,662,367)		528,083		—		(6,134,284)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(52,948)		—		—		(52,948)

Comprehensive Loss	$	(6,715,315)	$	528,083	$	—	$	(6,187,232)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		1,594,063,579						1,594,063,579

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Three Months Ended September 30, 2019
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	1,763,057	$	—	$	—	$	1,763,057
General and administrative expenses		1,354,263		—		—		1,354,263
Total Operating Expenses		3,117,320		—		—		3,117,320
Loss from Operations		(3,117,320)		—		—		(3,117,320)

Other Income (Expenses):
Interest income		2,057						2,057
Changes in fair value of option liabilities - gain		515,489		(316,541)		—		198,948
Foreign currency exchange gains		37,209		—		—		37,209
Other expenses		(2,788)		—		—		(2,788)
Total Other Income (Expenses)		551,967		(316,541)				235,426

Net Loss		(2,565,353)		(316,541)		—		(2,881,894)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		3,281		—		—		3,281

Comprehensive Loss	$	(2,562,072)	$	(316,541)	$	—	$	(2,878,613)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		1,971,025,222						1,971,025,222

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Nine Months Ended September 30, 2019
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	3,038,038	$	—	$	—	$	3,038,038
General and administrative expenses		6,098,767		—		—		6,098,767
Total Operating Expenses		9,136,805		—		—		9,136,805
Loss from Operations		(9,136,805)		—		—		(9,136,805)

Other Income (Expenses):
Interest income		3,792		—		—		3,792
Changes in fair value of option liabilities - (loss) gain		(12,594)		211,542		—		198,948
Foreign currency exchange losses		(71,989)						(71,989)
Other expenses		(10,124)		—		—		(10,124)
Total Other Income (Expenses)		(90,915)		211,542		—		120,627

Net Loss		(9,227,720)		211,542		—		(9,016,178)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(49,667)		—		—		(49,667)

Comprehensive Loss	$	(9,277,387)	$	211,542	$	—	$	(9,065,845)

Loss per ordinary share (basic and diluted)	$	(0.01)					$	(0.01)
Weighted average ordinary shares (basic and diluted)		1,721,098,272						1,721,098,272

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(in U.S. Dollars )


	Three Months Ended March 31, 2020
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Cash Flows from Operating Activities:
Net loss	$	(3,385,062)	$	(360,345)	$	—	$	(3,745,407)
Adjustments to reconcile net loss to net cash used in operating activities:				—		—
Depreciation and amortization		3,877		—		—		3,877
Stock-based compensation		100,504		—		—		100,504
Changes in fair value of the liability for options and warrants		(1,309,801)		360,345		—		(949,456)
Foreign currency exchange (gains) loss		(171,806)		—		—		(171,806)
Changes in operating assets and liabilities:
(Increase) in assets:
Prepaid expenses and other current assets		(1,115,329)		—		—		(1,115,329)
(Decrease) in liabilities:
Accounts payable and accrued expenses		(1,862,039)		—		—		(1,862,039)
Total adjustments		(4,354,594)		360,345		—		(3,994,249)
Net Cash Used in Operating Activities		(7,739,656)		—				(7,739,656)

Cash Flows from Financing Activities:
Net proceeds from issuance of shares		7,095,368		—		—		7,095,368
Proceeds from issuance of warrants		2,782,620		—		—		2,782,620
Net Cash Provided by Financing Activities		9,877,988		—				9,877,988

Effect of Exchange Rates on Cash		(47,843)		—		—		(47,843)

Net Increase in Cash		2,090,489		—		—		2,090,489
Cash, beginning of period		5,731,691		—		—		5,731,691
Cash, end of period	$	7,822,180	$	—	$	—	$	7,822,180

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(in U.S. Dollars )


	Six Months Ended June 30, 2020
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustment		Restated
Cash Flows from Operating Activities:
Net loss	$	(11,701,717)	$	516,495	$	—	$	(11,185,222)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		6,921		—		—		6,921
Stock-based compensation		163,834		—		—		163,834
Financing Expense		900,000		—		—		900,000
Changes in fair value of the liability for options and warrants		1,122,648		(516,495)		—		606,153
Foreign currency exchange (gains) loss		(210,896)		—		—		(210,896)
Changes in operating assets and liabilities:
(Increase) in assets:
Prepaid expenses and other current assets		(966,222)		—		—		(966,222)
(Decrease) in liabilities:		—		—
Accounts payable and accrued expenses		(1,327,686)		—		—		(1,327,686)
Total adjustments		(311,401)		(516,495)		—		(827,896)
Net Cash Used in Operating Activities		(12,013,118)		—		—		(12,013,118)


Cash Flows from Financing Activities:
Net proceeds from issuance of shares		19,053,960		—		—		19,053,960
Proceeds from issuance of warrants		27,500		—		—		27,500
Net Cash Provided by Financing Activities		19,081,460		—		—		19,081,460

Effect of Exchange Rates on Cash		(53,767)		—		—		(53,767)

Net Increase in Cash		7,014,575		—		—		7,014,575
Cash, beginning of period		5,731,691		—		—		5,731,691
Cash, end of period	$	12,746,266	$	—	$	—	$	12,746,266

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(in U.S. Dollars )


	Nine Months Ended September 30, 2020
	As Previously		RPC		Other		As
	Reported		Adjustments		Adjustments		Restated
Cash Flows from Operating Activities:
Net loss	$	(10,259,757)	$	(12,011)	$	—	$	(10,271,768)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		7,907		—		—		7,907
Stock-based compensation		244,941		—		—		244,941
Financing Expense		900,000		—		—		900,000
Changes in fair value of the liability for options and warrants		(409,379)		12,011		—		(397,368)
Foreign currency exchange (gains) loss		(488,532)		—		—		(488,532)
Changes in operating assets and liabilities:
(Increase) in assets:
Prepaid expenses and other current assets		(635,758)		—		—		(635,758)
(Decrease) in liabilities:		—
Accounts payable and accrued expenses		(2,076,709)		—		—		(2,076,709)
Total adjustments		(2,457,530)		12,011		—		(2,445,519)
Net Cash Used in Operating Activities		(12,717,287)		—		—		(12,717,287)

Cash Flows from Financing Activities:
Net proceeds from issuance of shares		19,053,960		—		—		19,053,960
Proceeds from issuance of warrants		27,500		—		—		27,500
Net Cash Provided by Financing Activities		19,081,460		—		—		19,081,460

Effect of Exchange Rates on Cash		221,934		—		—		221,934

Net Increase in Cash		6,586,107		—		—		6,586,107
Cash, beginning of period		5,731,691		—		—		5,731,691
Cash, end of period	$	12,317,798	$	—	$	—	$	12,317,798

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(in U.S. Dollars )


	Three Months Ended March 31, 2019
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Cash Flows from Operating Activities:
Net loss	$	(2,545,283)	$	2,358,772	$	—	$	(186,511)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		5,566		—		—		5,566
Stock-based compensation		394,439		—		—		394,439
Changes in fair value of the liability for options and warrants		2,358,772		(2,358,772)		—		—
Foreign currency exchange (gains) loss		166,593		—		—		166,593
Changes in operating assets and liabilities:
(Increase) in assets:
Prepaid expenses and other current assets		(464,696)		—		—		(464,696)
Increase in liabilities:
Accounts payable and accrued expenses		313,553		—		—		313,553
Total adjustments		2,774,227		(2,358,772)		—		415,455
Net Cash Used in Operating Activities		228,944		—		—		228,944


Cash Flows from Financing Activities:
Net proceeds from issuance of shares		157,743		—		—		157,743
Net Cash Provided by Financing Activities		157,743		—		—		157,743

Effect of Exchange Rates on Cash		(61,175)		—		—		(61,175)

Net Increase in Cash and Restricted Cash		325,512		—		—		325,512
Cash and Restricted cash, beginning of period		5,967,967		—		—		5,967,967
Cash and Restricted cash, end of period	$	6,293,479	$	—	$	—	$	6,293,479

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(in U.S. Dollars )


	Six Months Ended June 30, 2019
	As Previously		RPC		Other		As
	Reported		Adjustments		Adjustments		Restated
Cash Flows from Operating Activities:
Net loss	$	(6,662,367)	$	528,083	$	—	$	(6,134,284)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		10,266		—		—		10,266
Stock-based compensation		804,061		—		—		804,061
Changes in fair value of the liability for options and warrants		528,083		(528,083)		—		—
Foreign currency exchange (gains) loss		91,905		—		—		91,905
Changes in operating assets and liabilities:
(Increase) in assets:
Prepaid expenses and other current assets		(324,111)		—		—		(324,111)
Increase in liabilities:
Accounts payable and accrued expenses		1,008,598		—		—		1,008,598
Total adjustments		2,118,802		(528,083)		—		1,590,719
Net Cash Used in Operating Activities		(4,543,565)		—		—		(4,543,565)

Cash Flows from Financing Activities:
Net proceeds from issuance of shares		1,473,828		—				1,473,828
Net Cash Provided by Financing Activities		1,473,828		—		—		1,473,828

Effect of Exchange Rates on Cash		(144,203)		—		—		(144,203)

Net (Decrease) in Cash		(3,213,940)		—		—		(3,213,940)
Cash, beginning of period		5,967,967		—		—		5,967,967
Cash, end of period	$	2,754,027	$	—	$	—	$	2,754,027

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(in U.S. Dollars )


	Nine Months Ended September 30, 2019
	As Previously		RPC		Other		As
	Reported		Adjustments		Adjustments		Restated
Cash Flows from Operating Activities:
Net loss	$	(9,227,720)	$	211,542	$	—	$	(9,016,178)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		14,892		—		—		14,892
Stock-based compensation		941,446		—		—		941,446
Changes in fair value of the liability for options and warrants		12,594		(211,542)		—		(198,948)
Foreign currency exchange (gains) loss		67,922						67,922
Changes in operating assets and liabilities:								—
(Increase) decrease in assets:
Tax credit receivable		(2,902,987)		—		—		(2,902,987)
Prepaid expenses and other current assets		364,594		—		—		364,594
Increase in liabilities:
Accounts payable and accrued expenses		1,275,245		—		—		1,275,245
Total adjustments		(226,294)		(211,542)		—		(437,836)
Net Cash Used in Operating Activities		(9,454,014)		—				(9,454,014)

Cash Flows from Financing Activities:
Net proceeds from issuance of shares		9,871,886		—		—		9,871,886
Net Cash Provided by Financing Activities		9,871,886		—		—		9,871,886

Effect of Exchange Rates on Cash		(117,172)		—		—		(117,172)

Net Increase in Cash		300,700		—		—		300,700
Cash, beginning of period		5,967,967		—		—		5,967,967
Cash, end of period	$	6,268,667	$	—	$	—	$	6,268,667

Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Measurements

Fair Value Measurements

NOTE 4 – Fair Value Measurements

Fair value of financial instruments:

The estimated fair value of financial instruments has been determined by the Company using available market information and valuation methodologies. Considerable judgment is required in estimating fair values. Accordingly, the estimates may not be indicative of the amounts the Company could realize in a current market exchange.

The carrying amounts of cash, prepaid expenses and other current assets, accounts payable and accrued expenses approximate their fair value due to the short-term maturity of such instruments.

Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC 820, Fair Value Measurements and Disclosures ("ASC 820") establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:

Level 1 - quoted prices in active markets for identical assets or liabilities;

Level 2 - inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or

Level 3 - unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

Warrants -

2019 Registered Direct Offering - On July 3, 2019, the Company sold to certain institutional investors, accredited investors and an existing shareholder, RPC Pharma Ltd., an affiliated entity of Dr. Ray Prudo, the Company’s Chairman, an aggregate of 2,368,392 ADSs in a registered direct offering at $1.90 per ADS, resulting in gross proceeds of approximately $4.5 million (the “2019 Registered Direct Offering”). The Company also entered into a letter agreement with Paulson Investment Company, LLC (the “Placement Agent”) to serve as the placement agent for the Company in connection with this offering. In connection with the sale of the ADSs in the 2019 Registered Direct Offering, the Company issued to the investors unregistered warrants to purchase an aggregate of 1,184,213 ADSs in a private placement (“2019 Investor Warrants”). The 2019 Investor Warrants are immediately exercisable and will expire five years from issuance at an exercise price of $3.00 per ADS, subject to adjustment as set forth therein. Subject to certain conditions, the Company has the option to “call” the exercise of the warrants from time to time after any 10-consecutive trading day period during which the daily volume weighted average price of the ADSs exceeds $4.50. The Company paid to the Placement Agent an aggregate of $337,496 in placement agent fees and expenses and issued unregistered warrants to the Placement Agent to purchase an aggregate of 177,629 ADS (“2019 Placement Warrants”) on the same terms as the 2019 Investor Warrants, except that the 2019 Placement Warrants are exercisable at $2.85 per ADS and expire on June 28, 2024. Both the 2019 Investor Warrants and the 2019 Placement Warrants (together the “2019 Warrants”) may be exercised on a cashless basis if six months after issuance there is no effective registration statement registering the ADSs underlying the warrants. Pursuant to the cashless exercise provision, the warrant holder must make an additional payment to the Company equal to the nominal value of an ADS (i.e., $0.0001) per warrant ADS actually to be issued pursuant to the cashless exercise. The total amount of 2019 Warrants issued in connection with this registered direct offering amounted to 1,361,842, all of which were outstanding as of December 31, 2020.

2020 Private Placements - On February 13, 2020, February 19, 2020, February 20, 2020 and February 28, 2020, the Company entered into securities purchase agreements with certain accredited and institutional investors, including Dr. Ray Prudo, the Company’s Chairman, providing for the issuance of an aggregate of 5,620,296 ADSs in a private placement at $1.70 per ADS for aggregate gross proceeds of approximately $9.5 million (the “2020 Private Placements”). The Company also entered into a letter agreement with Paulson Investment Company, LLC to serve as the placement agent for the Company in connection with this offering. In connection with the offering, on February 21, 2020 and March 3, 2020, the Company issued to the investors unregistered warrants to purchase a total of 2,810,136 ADSs at $2.20 per ADS (“2020 Investor Warrants”). On March 3, 2020, the Company also issued 449,623 ADSs to the Placement Agent at $2.55 per ADS (“2020 Placement Warrants”). The 2020 Investor warrants and the 2020 Placement Warrants (together the “2020 Warrants”) will expire five years from issuance and are immediately exercisable, subject to adjustment as set forth therein. The Company paid to the Placement Agent an aggregate of $808,362 in placement agent fees and expenses. The 2020 Warrants may be exercised on a cashless basis if six months after issuance there is no effective registration statement registering the ADSs underlying the warrants. Pursuant to the cashless exercise provision, the warrant holder must make an additional payment to the Company equal to the nominal value of an ADS (i.e., $0.0001) per warrant ADS actually to be issued pursuant to the cashless exercise. The total amount of the 2020 Warrants issued in connection with the 2020 Private Placements amounted to 3,259,759. 3,247,259 of these warrants were outstanding as of December 31, 2020.

The costs directly attributable to realizing proceeds of issuing ADSs such as placement agent fees, commissions, legal and accounting fees pertaining to the financing and other external, incremental fees and expenses paid to advisors are recognized on a proportional basis as (1) a component of General and administrative expenses in the Consolidated Statements of Operations, relative to the grant date fair value of the warrant liability as a portion of the total value of the equity raise, and (2) in the Shareholders’ Equity in the Consolidated Balance Sheets in accordance with ASC 835-30-45-3, relative to the gross cash proceeds of the private placement as a portion of the total value of the equity raise at the time of the equity raise. The total value of the equity raises equal the sum of the grant date fair values of the warrant liability and the gross cash proceeds of the 2019 Registered Direct Offering and the 2020 Private Placements, respectively.

The Company has determined that at the time of their issuance, the 2019 Warrants and the 2020 Warrants (together the “Warrants”) represent freestanding financial instruments whose foreign currency considerations pursuant to cash and cashless exercise require liability classification and should be recorded as liability-classified awards in accordance with ASC 815-40-25, Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company’s Own Stock and ASC 815-40-15, Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entity’s Own Stock. In accordance with ASC 820, the Company measured its Warrants at grant date fair value. The fair value related to warrants are classified within the Level 3 value hierarchy because it is based on external valuation models whose inputs include market interest rates, required return on capital, and standard deviation. Unobservable inputs used in these models are significant. The Warrants were measured at their grant date fair value and subsequently remeasured at each reporting period with changes being recorded as a component of other income in the Consolidated Statements of Comprehensive Income (Loss). The total grant date fair value of the 2019 Warrants was $1,213,816 and of the 2020 Warrants was $2,749,369 and they were initially recognized within Current Liabilities in the Consolidated Balance Sheets. The change in fair value of liability related to Warrants from period to period, which represents a gain (loss), was recognized as changes in fair value of warrant liabilities – gain (loss) in the Consolidated Statements of Comprehensive Income (Loss). On December 8, 2020, the Company held a general meeting (“2020 General Meeting”) and changed the currency of its ordinary shares from pounds sterling to US dollars (“2020 Redenomination"). As a consequence of the 2020 Redenomination, the Company is required to reassess, whether its financial instruments or other contracts that previously required derivative accounting within the scope of ASC 815 Financial Instruments either (a) no longer meet the definition of a derivative or (b) meet a scope exception to the derivative guidance due to a change in facts and circumstances. The Company concluded that due to the 2020 Redenomination, the Warrants now meet the requirements for classification as equity under ASC 815-40-25 as of December 8, 2020, the date of the 2020 General Meeting. The Company updated the carrying amount of the warrant liability to its fair value on December 8, 2020, with any changes recorded in the Consolidated Statements of Comprehensive Loss and then reclassed the warrant liability balance to additional paid in capital within Shareholders’ Equity.

At December 8, 2020, the fair value of the 2019 Warrants was $882,237 and of the 2020 Warrants $2,317,316, totaling $3,199,553. At December 31, 2019, the fair value of the 2019 Warrants was $l,014,868. The change in fair value of the 2019 Warrants from January 1, 2020 to December 8, 2020 was a decrease of $132,632 and of the outstanding 2020 Warrants for the same period was a decrease of $432,053. In addition, upon exercise of 12,500 of the 2020 Investor Warrant ADSs, we reclassified $7,874 of the related warrant liability to shareholders' equity.

Below are the assumptions used for the fair value calculations of the 2019 Warrants as of:


	December 31,		December 8,
	2019		2020
Standard deviation	110.00	%	95.00	%
Annual risk-free interest rate	1.66	%	0.25	%
Required return on equity	19.90	%	19.30	%
Expected life in years	4.50		3.55
Annual turnover rate	0.00	%	0.00	%
Period risk-free rate	0.08	%	0.08	%

Below are the assumptions used for the fair value calculations of the 2020 Warrants as of:


	February 21,		March 3,		December 8,
	2020		2020		2020
Standard deviation	110.00	%	110.00	%	95.00	%
Annual risk-free interest rate	1.3	%	0.77	%	0.31-0.32	%
Required return on equity	19.90	%	19.90	%	19.30	%
Expected life in years	5.00		5.00		4.21-4.24
Annual turnover rate	0.00	%	0.00	%	0.00	%
Period risk-free rate	0.08	%	0.08	%	0.08	%

The Company had no financial assets that require fair value measurement on a recurring basis. The Company’s financial liabilities measured at fair value on a recurring basis, consisted of the following instruments as of the following dates:


	December 8,		December 31,
	2020		2019
			As Restated
Warrants	$	3,199,553	$	1,014,868
Total	$	3,199,553	$	1,014,868

Fair value measurements using significant unobservable inputs (Level 3):


	Fair value of liabilities
	related to warrants
Balance at December 31, 2018 – As Restated	$	—

Issuance of 2019 Warrants		1,213,816

Change in fair value of liabilities related to warrants – As Restated		(198,948)

Balance at December 31, 2019 – As Restated	$	1,014,868

Issuance of 2020 Paulson Warrants		2,749,369

Reclassification of warrant liability to shareholders’ equity upon exercise of 12,500 warrant ADSs		(7,874)

Change in fair value of liabilities related to warrants		(556,810)

Balance at December 8, 2020		3,199,553

Reclassification to Additional-Paid-In Capital (in) Shareholders’ Equity		(3,199,553)

Balance at December 31, 2020	$	—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Shareholders' Equity

12 Months Ended

Dec. 31, 2020

Shareholders' Equity

Shareholders' Equity

NOTE 5 – Shareholders’ Equity

2020 Purchase Agreement and Registration Rights Agreement with Aspire Capital –

On June 30, 2020, the Company entered into a Purchase Agreement (“2020 Purchase Agreement”) with Aspire Capital, which provides that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $30.0 million of the Company’s ADS, with each ADS representing one hundred (100) ordinary shares, during a 30-month period beginning on the effective date of a registration statement related to the transaction. Concurrently with entering into the 2020 Purchase Agreement, the Company also entered into a registration rights agreement with Aspire Capital, in which the Company agreed to file one or more registration statements, as permissible and necessary to register under the Securities Act of 1933, as amended (the “Securities Act”), the sale of the Company’s securities that have been and may be issued to Aspire Capital under the 2020 Purchase Agreement.

Under the 2020 Purchase Agreement, after the SEC declared effective the registration statement referred to above (which occurred in July 2020), on any trading day selected by the Company, the Company has the right, in its sole discretion, to present Aspire Capital with a purchase notice (each, a “Purchase Notice”), directing Aspire Capital (as principal) to purchase up to 150,000 ADSs per business day and up to $30.0 million of the Company’s ADSs in the aggregate at a per share price (the “Purchase Price”) equal to the lesser of:

the lowest sale price of the Company’s ADSs on the purchase date; or

the arithmetic average of the three (3) lowest closing sale prices for the ADSs during the ten (10) consecutive business days ending on the business day immediately preceding such Purchase Date (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction).

In addition, on any date on which the Company submits a Purchase Notice to Aspire Capital in an amount of 150,000 ADSs, the Company also has the right, in its sole discretion, to present Aspire Capital with a volume-weighted average price purchase notice (each, a “VWAP Purchase Notice”) directing Aspire Capital to purchase an amount of ADSs equal to up to 30% of the aggregate shares of the Company’s ADSs traded on its principal market on the next trading day (the “VWAP Purchase Date”), subject to a maximum number of 250,000 ADSs. The purchase price per share pursuant to such VWAP Purchase Notice is generally 97% of the volume-weighted average price for the Company’s ADSs traded on its principal market on the VWAP Purchase Date.

The Purchase Price will be adjusted for any reorganization, recapitalization, non-cash dividend, stock split, or other similar transaction occurring during the period(s) used to compute the Purchase Price. The Company may deliver multiple Purchase Notices and VWAP Purchase Notices to Aspire Capital from time to time during the term of the Purchase Agreement, so long as the most recent purchase has been completed.

The 2020 Purchase Agreement provides that the Company and Aspire Capital shall not effect any sales under the Purchase Agreement on any purchase date where the closing sale price of the Company’s ADSs is less than $0.25. Additionally, governing law in the United Kingdom, where the Company is incorporated, requires a minimum payment per ADS to be issued pursuant to a purchase notice equal to the nominal value of an ADS (i.e., $0.0001). There are no trading volume requirements or restrictions under the Purchase Agreement, and the Company will control the timing and amount of sales of the Company’s ADSs to Aspire Capital. Aspire Capital has no right to require any sales by the Company, but is obligated to make purchases from the Company as directed by the Company in accordance with the Purchase Agreement. There are no limitations on use of proceeds, financial or business covenants, restrictions on future fundings, rights of first refusal, participation rights, penalties or liquidated damages in the Purchase Agreement.

In accordance with ASC 815-40-15, Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entity’s Own Stock, since the ultimate floor price, which is effectively the nominal value of the ADS which was denominated in GBP at the time of entering into the 2018 Purchase agreement as well as the 2020 Purchase Agreement (together “the Purchase Agreements”) prior to the 2020 Redenomination, the number of shares issuable under the contract was impacted by foreign currency, therefore ASC 815-40-15-7I precluded the Purchase Agreements from being indexed to the Company’s own stock. The Company determined that the right to sell shares to Aspire Capital under the Purchase Agreements represents a freestanding put option that met the criteria of a derivative pursuant to ASC 815 Derivatives and Hedging. Since the purchase price per share pursuant to the Purchase Agreements is at the market, the Company concluded that the put option has a fair value of zero, and therefore no additional accounting related to the put option was required.

In consideration for entering into the 2020 Purchase Agreement, the Company agreed to issue to Aspire Capital 40,760,900 ordinary shares of the Company (the “2020 Commitment Shares”) which had a fair value of approximately $900,000. Since the Company has determined that the 2020 Purchase Agreement was considered a freestanding put option derivative in accordance with ASC 815 Derivatives and Hedging when entering into the agreement, the Company recorded the value of the 2020 Commitment Shares in General and administrative expenses in the Consolidated Statements of Comprehensive Loss. The 2020 Purchase Agreement may be terminated by the Company at any time, at its discretion, without any cost to the Company. Aspire Capital has agreed that neither it nor any of its agents, representatives and affiliates shall engage in any direct or indirect short-selling or hedging of the Company’s securities during any time prior to the termination of the 2020 Purchase Agreement. Any proceeds the Company receives under the 2020 Purchase Agreement are expected to be used for working capital and general corporate purposes.

During the twelve months ended December 31, 2020, the Company sold to Aspire Capital 460,758,800 ordinary shares of the Company for gross proceeds of approximately $6,000,000. As of December 31, 2020, $24 million of the original purchase commitment of $30 million remains available under the facility.

2020 Private Placements –

On February 13, 2020, February 19, 2020, February 20, 2020 and February 28, 2020, the Company entered into securities purchase agreements with certain accredited and institutional investors, including Dr. Ray Prudo, the Company’s Chairman, providing for the issuance of an aggregate of 5,620,296 ADSs in a private placement at $1.70 per ADS for aggregate gross proceeds of approximately $9.5 million. The Company also entered into a letter agreement with Paulson Investment Company to serve as the placement agent for the Company in connection with this offering. In connection with the offering, the Company issued to the investors unregistered warrants to purchase 2,810,136 ADSs at $2.20 per ADS and 449,623 ADSs to the Placement Agent at $2.55 per ADS (See Note 4).

2019 Registered Direct Offering -

On July 3, 2019, the Company sold to certain institutional investors, accredited investors and an existing shareholder, RPC Pharma Ltd., an affiliated entity of Dr. Ray Prudo, the Company's Chairman, an aggregate of 2,368,392 ADSs in a registered direct offering at $1.90 per ADS, resulting in gross proceeds of approximately $4.5 million. The Company also entered into a letter agreement with the Paulson Investment Company to serve as the placement agent for the Company in connection with this offering. In connection with the sale of the ADSs in the 2019 Registered Direct Offering, the Company issued unregistered warrants to investors and the Placement Agent to purchase an aggregate of 1,361,842 ADSs in a private placement at $3.00 per ADS and $2.85 per ADS respectively (See Note 4).


			Balance	Warrants	Warrants	Balance
	Exercise		December 31,	Issued	Exercised	December 31,
Description	Price		2019	in 2020	in 2020	2020
2019 Investor Warrants	$	3.00	1,184,213	—	—	1,184,213
2019 Placement Warrants	$	2.85	177,629	—	—	177,629
2020 Investor Warrants	$	2.20	—	2,810,136	(12,500)	2,797,636
2020 Placement Warrants	$	2.55	—	449,623	—	449,623
			1,361,842	3,259,759	(12,500)	4,609,101

2018 Purchase Agreement and Registration Rights Agreement with Aspire Capital –

On September 26, 2018, the Company entered into a Purchase Agreement (“2018 Purchase Agreement”) with Aspire Capital, which provides that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $20.0 million of the Company’s ADS, with each ADS representing one hundred (100) ordinary shares, during a 30‑month period beginning on the effective date of a registration statement related to the 2018 Purchase Agreement. Concurrently with entering into the 2018 Purchase Agreement, the Company also entered into a registration rights agreement with Aspire Capital, in which the Company agreed to file one or more registration statements, as permissible and necessary to register under the Securities Act, the sale of the Company’s securities that have been and may be issued to Aspire Capital under the 2018 Purchase Agreement.

Under the 2018 Purchase Agreement, after the SEC declared effective the registration statement referred to above (which occurred in March 2019), on any trading day selected by the Company, the Company has the right, in its sole discretion, to present Aspire Capital with a purchase notice (each, a “Purchase Notice”), directing Aspire Capital (as principal) to purchase up to 150,000 ADSs per business day and up to $20.0 million of the Company’s ADSs in the aggregate at a per share price (the “Purchase Price”) equal to the lesser of:

the lowest sale price of the Company’s ADSs on the purchase date; or

The Purchase Agreement provides that the Company and Aspire Capital shall not effect any sales under the Purchase Agreement on any purchase date where the closing sale price of the Company’s ADSs is less than $0.25. There are no trading volume requirements or restrictions under the Purchase Agreement, and the Company will control the timing and amount of sales of the Company’s ADSs to Aspire Capital. Aspire Capital has no right to require any sales by the Company, but is obligated to make purchases from the Company as directed by the Company in accordance with the Purchase Agreement. There are no limitations on use of proceeds, financial or business covenants, restrictions on future fundings, rights of first refusal, participation rights, penalties or liquidated damages in the Purchase Agreement.

In consideration for entering into the Purchase Agreement, concurrently with the execution of the Purchase Agreement, the Company issued to Aspire Capital 30,000,000 ordinary shares of the Company (the “2018 Commitment Shares”) and sold to Aspire Capital 25,000,000 ordinary shares (the “2018 Initial Shares”) for gross proceeds of $500,000. The Company recorded the value of the Commitment shares as general and administrative expenses in its Consolidated Statements of Comprehensive Loss. The 2018 Purchase Agreement may be terminated by the Company at any time, at its discretion, without any cost to the Company. Aspire Capital has agreed that neither it nor any of its agents, representatives and affiliates shall engage in any direct or indirect short-selling or hedging of the Company’s securities during any time prior to the termination of the 2018 Purchase Agreement. Any proceeds the Company receives under the 2018 Purchase Agreement are expected to be used for working capital and general corporate purposes.

In addition to the issuance of the 2018 Commitment Shares and 2018 Initial Shares for gross proceeds of $500,000 in September 2018, during the twelve months ended December 31, 2020, the Company sold to Aspire Capital 536,666,700 ordinary shares of the Company for gross proceeds of $10,360,254. On June 30, 2020, we terminated the 2018 Purchase Agreement in connection with the entry of the 2020 Purchase Agreement.

Share option plan –

In accordance with the Company’s 2014 Equity Incentive Plan (the “Plan”), the number of shares that may be issued upon exercise of options under the Plan shall not exceed 344,747,462 ordinary shares. At December 31, 2020, 232,098,427 ordinary shares are available for future issuance under the Plan. The option plan is administered by the Company’s Board of Directors and grants are made pursuant thereto by the compensation committee. The per share exercise price for the shares to be issued pursuant to the exercise of an option shall be such price equal to the fair market value of the Company’s ordinary shares on the grant date and set forth in the individual option agreement. Options expire ten years after the grant date and typically vest over one to four years.

The following is a summary of the Company’s share option activity and related information for employees and directors for the years ended December 31, 2020, 2019 and 2018:


						Weighted
						average
		Weighted		Weighted		remaining
		average		average		contractual	Aggregate
	Number	exercise		grant date		term	intrinsic
	of shares	price		fair value		(in years)	value
Options outstanding as of January 1, 2018	90,061,998	$	0.15				$	266,011
Changes during the period:
Granted	41,150,000	$	0.02	$	0.01
Forfeited	(37,115,000)	$	0.07	$	0.05
Options outstanding at December 31, 2018	94,096,998	$	0.12			8.4	$	—
Changes during the period:
Granted	7,800,000	$	0.02	$	0.01
Forfeited	(7,547,963)	$	0.23	$	0.14
Options outstanding at December 31, 2019	94,349,035	$	0.10			7.6	$	—
Changes during the period:
Granted	20,800,000	$	0.02	$	0.01			6,440
Forfeited	(2,500,000)	$	0.02	$	0.02
Options outstanding at December 31, 2020	112,649,035	$	0.09			7.1	$	9,550
Exercisable options at December 31, 2020	77,667,785	$	0.12			6.4	$	1,950

The Company measures compensation cost for all share-based awards at fair value on the date of grant and recognizes compensation expense in general administrative and research and development expenses within its Consolidated Statements of Comprehensive Income (Loss) using the straight-line method over the service period over which it expects the awards to vest.

The Company estimates the fair value of all time-vested options as of the date of grant using the Black-Scholes option valuation model, which was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable. Option valuation models require the input of highly subjective assumptions, including the expected share price volatility, which is calculated based on the historical volatility of peer companies. The Company uses a risk-free interest rate, based on the U.S. Treasury instruments in effect at the time of the grant, for the period comparable to the expected term of the option. Given its limited history with share option grants and exercises, the Company uses the “simplified” method in estimating the expected term, the period of time that options granted are expected to be outstanding, for its grants.

The Company classifies its stock-based payments which are settled in ordinary shares as equity-classified awards.

The Company measures equity-classified awards at their grant date fair value and does not subsequently re-measure them. Compensation costs related to equity-classified awards generally are equal to the grant date fair value of the award amortized over the vesting period of the award.

Below are the assumptions used for the options granted during the years ended December 31, 2020, 2019 and 2018:


	December 31,
	2020		2019		2018
Expected dividend yield	0	%	0	%	0	%
Expected volatility	83.88-86.85	%	75.40	%	70.52%-82.23	%
Risk-free interest	0.38%-0.49	%	1.76	%	2.49%-3.13	%
Expected life	5.5-6.25 years		5.5 years		5.5-6.25 years

The following is a summary of the Company’s share options granted separated into ranges of exercise price:


						Weighted
	Options	Weighted		Options	Remaining	average
	outstanding	average	Weighted	exercisable	contractual	exercise
Exercise	at	remaining	average	at	life for	price for
price	December	contractual	exercise	December	exercisable	exercisable
(range) ($)	31, 2020	life (years)	price ($)	31, 2020	options (years)	options ($)
0.02-0.05	77,600,000	8.03	0.02	42,712,500	7.60	0.03
0.12-0.19	18,334,629	5.30	0.15	18,240,879	5.30	0.15
0.32	16,714,406	4.73	0.32	16,714,406	4.73	0.32
	112,649,035			77,667,785

During the years ended December 31, 2020, 2019 and 2018, the Company recorded approximately $325,523, $1,047,387 and $1,649,044, respectively, in stock-based compensation expenses for employees and directors. At December 31, 2020, there was approximately $394,000 of unrecognized compensation cost related to unvested share-based compensation arrangements granted under the Company’s share option plans which the Company expects to recognize over 1.9 years.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2020
Related Party Transactions
Related Party Transactions	NOTE 6 – Related Party Transactions Office Lease - The Company leases its offices in London from The Doctors Laboratory ("TDL") and has incurred expenses of approximately $133,000, $134,000 and $139,000 plus VAT during the year ended December 31, 2020, respectively (see Note 7 – Lease Commitment). David Byrne, a non-employee director of the Company, is the Chief Executive Officer of TDL and Dr. Ray Prudo, the Company’s Executive Chairman, is also Non-Executive Chairman of the Board of Directors of TDL. Laboratory Testing Services - The Company has received laboratory testing services for its clinical trials provided by TDL and has incurred expenses of approximately $234,000, $186,000 and $8,000 plus VAT during the year ended December 31, 2020, 2019 and 2018, respectively. The Company recorded payable balances to TDL of approximately $100,000, $119,000, and $49,000 plus VAT as of December 31, 2020, 2019 and 2018, respectively. Consulting - A non-employee director of the Company began providing business development consulting services in January 2018. The Company has incurred expenses of approximately $100,000, $100,000 and $84,000 during the year ended December 31, 2020, 2019 and 2018, respectively, relating to these consulting services.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2020
Commitments and Contingencies
Commitments and Contingencies	NOTE 7 – Commitments and Contingencies Loss contingencies – On April 13, 2021, the Staff of the SEC notified Akari that the Staff had concluded the investigation by the SEC with respect to the Edison Report and the Company’s Phase II clinical trial of nomacopan (formerly known as Coversin) as described below and that, based on the information the Staff has to date, the Staff does not intend to recommend an enforcement action by the Commission against Akari. On April 27, 2017, the Company issued a press release stating that Edison Investment Research Ltd. (“Edison”) had withdrawn its report issued April 26, 2017 titled “Akari’s Coversin matches Soliris® in Phase II” (the “Edison Report”) because it contained material inaccuracies, including, without limitation, with respect to the Company’s interim analysis of its ongoing Phase II PNH trial of nomacopan (formerly known as Coversin). Investors were cautioned not to rely upon any information contained in the Edison Report and instead were directed to the Company’s press release issued on April 24, 2017 that discusses the interim analysis of the Company’s then ongoing Phase II PNH trial and other matters. The Company’s Board of Directors established an ad hoc special committee of the Board to review the involvement, if any, of its personnel with the Edison Report, which was later retracted. Edison was retained by the Company to produce research reports about the Company. While that review was pending, Dr. Gur Roshwalb, the Company’s former Chief Executive Officer, was placed on administrative leave and Dr. Ray Prudo in his role as Executive Chairman temporarily assumed Dr. Roshwalb’s duties in his absence. Following that review, the Company determined that the Edison Report was reviewed and approved by Dr. Roshwalb, in contravention of Company policy. On May 29, 2017, Dr. Roshwalb submitted his resignation as Chief Executive Officer and member of the Company’s Board of Directors, effective immediately. On May 12, 2017, a putative securities class action captioned Derek Da Ponte v. Akari Therapeutics, PLC, Gur Roshwalb, and Dov Elefant (Case 1:17-cv-03577) was filed in the U.S. District Court for the Southern District of New York against the Company, its former Chief Executive Officer, and its former Chief Financial Officer. The plaintiff asserted claims alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), based primarily on the Company’s press releases or statements issued between April 24, 2017 and May 11, 2017 concerning the Phase II PNH trial of nomacopan (formerly known as Coversin) and the Edison Report about the Company and actions taken by it after the report was issued. The purported class covers the period from March 30, 2017 to May 11, 2017. The complaint seeks unspecified damages and costs and fees. On May 19, 2017, an almost identical class action complaint captioned Shamoon v. Akari Therapeutics, PLC, Gur Roshwalb, and Dov Elefant (Case 1:17-cv-03783) was filed in the same court. On July 11-12, 2017, candidates to be lead plaintiff filed motions to consolidate the cases and appoint a lead plaintiff. On August 10, 2017, the court issued a stipulated order: (i) consolidating the class actions under the caption In re: Akari Therapeutics, PLC Securities Litigation (Case 1:17-cv-03577); and (ii) setting out a schedule for plaintiffs to file a consolidated amended complaint and defendants to respond thereto. By order dated September 7, 2017, the court appointed lead plaintiffs for the class and lead plaintiffs’ counsel. On November 6, 2017, lead plaintiffs filed a consolidated amended complaint (the “CAC”). While the CAC contains similar substantive allegations to the initial complaints, it adds two additional defendants, Dr. Ray Prudo and Edison Investment Research Ltd., and the purported class period was changed to April 24, 2017 through May 30, 2017. On January 10, 2018, at a hearing regarding the defendants’ impending motions to dismiss the CAC, the Court gave plaintiffs permission to file a second consolidated amended complaint (the “SCAC”) and established a briefing schedule for defendants’ motions to dismiss the SCAC. Pursuant to that schedule, plaintiffs’ SCAC was filed on January 31, 2018. All briefing on the motions to dismiss was completed on April 20, 2018. On May 9, 2018, the parties engaged in a mediation session and came to an agreement in principle to settle the dispute. On June 8, 2018, the parties entered into a memorandum of understanding. A memorandum of understanding is not a definitive settlement agreement, which must be approved by the Court. By the terms of the memorandum, the parties agreed in principle to a total payment of $2.7 million in cash. The Company recorded the $2.7 million SCAC litigation settlement loss in the Consolidated Statements of Comprehensive Loss in the year ended December 31, 2017, which is the period in which the lawsuits were originally filed. The $2.7 million SCAC settlement liability was recorded as a loss contingency in accrued expenses in the Company’s Consolidated Balance Sheets as of December 31, 2017. On July 26, 2018, plaintiffs filed a notice with the Court voluntarily dismissing Edison from the action. On August 3, 2018, the remaining parties executed and filed a stipulation and agreement of settlement (the terms of which were consistent with the memorandum of understanding). On August 7, 2018, the Court granted plaintiffs’ motion for preliminary approval of the settlement, and on November 28, 2018, following a hearing with the parties, the court ordered final approval of the settlement. On August 24, 2018, the Company received a $2.7 million payment from its directors’ and officers’ liability insurance provider, the sum of which was paid to an escrow account for the benefit of the settlement class on August 27, 2018. This was recorded as a gain in the Consolidated Statements of Comprehensive Loss during the third quarter of 2018. Plaintiffs subsequently moved to distribute the settlement funds to the class, and the Court granted plaintiffs' motion on February 4, 2019. Separately, Edison sought indemnification from the Company pursuant to its contract with the Company, including reimbursement of all legal expenses that Edison incurs in connection with the securities class action (to which, as discussed above, Edison was added as a defendant on November 6, 2017) and lost profits from customer relationships that Edison claims it lost as a result of the retraction of the Edison Report. The parties came to an agreement in the fourth quarter of 2018 and settled the dispute for an amount immaterial to the Company’s operations and cash flows. The Company voluntarily reported to the SEC the circumstances leading to the withdrawal of the Edison Report and the outcome of its special committee’s investigation. In response, the SEC initiated an investigation with respect to the Edison Report and the Company’s Phase II clinical trial of nomacopan (formerly known as Coversin). On April 13, 2021, the Staff of the SEC notified Akari that the Staff had concluded the investigation as to Akari and that, based on the information the Staff has to date, the Staff does not intend to recommend an enforcement action by the Commission against Akari. Lease commitment – The Company’s lease agreement for offices in London expired in March 2019. The Company currently leases its offices in London on the same terms of the expired lease except on a month-to-month basis. (See Note 6). The Company’s lease for offices in New York, New York ended early in December 2018. The Company currently leases office space in New York, New York on a month-to-month basis. For the year ended December 31, 2020, 2019 and 2018, the Company incurred rental expense in the amount of approximately $173,000, $392,000 and $814,000, respectively.

Loss Per Share

12 Months Ended

Dec. 31, 2020

Loss Per Share

Loss Per Share

NOTE 8 – Loss Per Share

Basic loss per Ordinary Share is computed by dividing net loss available to ordinary shareholders by the weighted-average number of Ordinary Shares outstanding during the period. Diluted loss per ordinary share is computed by dividing net loss available to ordinary shareholders by the sum of (1) the weighted-average number of Ordinary Shares outstanding during the period, (2) the dilutive effect of the assumed exercise of share options using the treasury stock method, and (3) the dilutive effect of other potentially dilutive securities.

The following is the calculation of the basic and diluted weighted average shares outstanding for the years ended December 31, 2020, 2019 and 2018, respectively:


	Years Ended December 31,
	2020	2019	2018
Company posted	Net loss	Net loss	Net loss
Basic weighted average shares outstanding	3,159,037,588	1,830,998,609	1,540,309,840
Dilutive effect of Ordinary Share equivalents	None	None	None
Dilutive weighted average shares outstanding	3,159,037,588	1,830,998,609	1,540,309,840

For purposes of the diluted net loss per share calculation, share options and warrants are considered to be potentially dilutive securities and are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive. Therefore, basic and diluted net loss per share was the same for the periods presented due to the Company’s net loss position.

The following table shows the number of share equivalents that were excluded from the computation of diluted loss per share for the respective periods because the effect would have been anti-dilutive:


	Years Ended December 31,
	2020	2019	2018
Total share options	112,649,035	94,349,035	94,096,998
Total warrants-equity classified	460,910,100	136,184,200	—
Total warrants-liability classified	—	—	—
Total share options and warrants	573,559,135	230,533,235	94,096,998

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Taxes

Income Taxes

NOTE 9 – Income Taxes

Tax rates:

The Company is incorporated in England. The effective corporate tax rate applying to a company that is incorporated in England on December 31, 2020 is 19%, which is consistent with the rate from December 31, 2019 and 2018.

Tax assessment:

The periods open to inquiry by the United Kingdom (“UK”) tax authorities are 2020, 2019 and 2018. The Company has not been issued final tax assessments since its establishment in Switzerland.

Deferred taxes:

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Management currently believes that since the Company has a history of losses, it is more likely than not that the deferred tax assets relating to the loss carryforwards and other temporary differences will not be realized in the foreseeable future. Therefore, the Company provided a full valuation allowance to reduce the deferred tax assets.

The main reconciling item between the statutory tax rate of the Company and the effective tax rate is the recognition of valuation allowances in respect of deferred taxes relating to accumulated net operating losses carried forward due to the uncertainty of the realization of such deferred taxes.

At December 31, 2020 and 2019, there were no known uncertain tax positions. The Company has not identified any tax positions for which it is reasonably possible that a significant change will occur during the next 12 months.

The components of income/(loss) before income taxes are as follows:


			As Restated		As Restated
	December 31,		December 31,		December 31,
	2020		2019		2018
Domestic (UK)	$	(17,394,075)	$	(16,870,699)	$	(20,633,055)
Foreign		312,458		24,496		133,596
Loss before income tax	$	(17,081,617)	$	(16,846,203)	$	(20,499,459)

Income taxes relating to the Company’s operations are as follows:


		As Restated	As Restated
	December 31,	December 31,	December 31,
	2020	2019	2018
Current income taxes
Domestic (UK)	—	—	—
U.S.	—
Foreign	—	—	—

Deferred income taxes	—	—	—
Domestic (UK)	—	—	—
Foreign	—	—	—
Income tax expense/recovery	—

Income taxes at the UK statutory rate compared to the Company’s income tax expenses as reported are as follows:


				As Restated			As Restated
	December 31,			December 31,			December 31,
	2020			2019			2018
Net loss before income tax	$	(17,081,617)		$	(16,846,203)		$	(20,499,459)
Statutory rate		19.00	%		19.00	%		19.00	%
Expected income tax recovery		(3,245,507)			(3,200,779)			(3,894,897)
Impact on income tax expense/recovery from
Change in valuation allowance		4,287,778			3,150,021			(1,322,117)
Permanent differences		81			161,543			—
U.S. state taxes (net of FBOS)		(655,877)			(370,870)			—
Tax rate difference in foreign jurisdictions		(136,343)			(1,960)			2,686,296
Change of tax rate due to U.S. tax reform		—			—			—
Change of tax rate from prior year		—			(63,133)			1,602,112
Deferred tax adjustments		(250,132)			325,178			928,606
Income tax expense		—			—			—

The Company’s deferred tax assets and liabilities consist of the following:


		As Restated
	December 31,	December 31,
	2020	2019
Deferred tax assets
Stock-based compensation	1,295,841	1,240,284
PP&E and other accrued liabilities	244,638	120,046
Intangibles	1,763,151	1,937,082
Warrant revaluation	—	192,825
Tax loss carry forward	22,913,429	18,439,041
Valuation allowance	(26,217,059)	(21,929,278)
Deferred tax assets/liabilities	—	—

The Company has reviewed its tax positions for its past domestic and foreign tax filings and has not identified any uncertain income tax positions. The Company’s position is to record penalties and interest on any uncertain tax position, if any, and record such items to general and administrative expense.

At December 31, 2020, the Company had approximately $84.7 million of UK operating loss carryforwards to reduce future UK taxable income. These carryforwards do not expire. At December 31, 2020, the Company had approximately $26.4 million of foreign operating loss carryforwards in the US and Switzerland. Carryforwards in the US totaling approximately $1.1 million expire in 2033, $1.3 million expire in 2037, $3.6 million expire in 2038 and $12.7 million do not expire. The carryforwards in Switzerland totaling approximately $1.5 million expire beginning in 2021. In general, an ownership change, as defined by Section 382 of the Internal Revenue Code, results from transactions increasing the ownership of certain shareholders or public groups in the stock of a corporation by more than 50% over a three-year period. The Company has not conducted a study to assess whether a change of control has occurred or whether there have been multiple changes of control since inception due to their history of losses. If the Company has experienced a change of control, as defined by Section 382, at any time since inception, utilization of the net operating loss carryforwards would be subject to an annual limitation under Section 382. Any limitation may result in expiration of a portion of the net operating loss carryforwards before utilization. Further, until a study is completed and any limitation is known, no adjustments have been reflected in the deferred tax asset for net operating loss carryforwards.

Research and development credits:

The Company carries out extensive research and development activities and may benefit from the UK research and development tax relief regime, whereby the Company can receive an enhanced UK tax deduction on its research and development activities. Qualifying expenditures comprise of chemistry and manufacturing consumables, employment costs for research staff, clinical trials management, and other subcontracted research expenditures. Where the Company is loss making for the period it can elect to surrender taxable losses for a refundable tax credit. The losses available to surrender are equal to the lower of the sum of the research and development qualifying expenditure and enhanced tax deduction and the Company’s taxable losses for the period with the tax credit for December 31, 2020 available at a rate of 14.5%. The credit therefore gives a cash flow advantage to Company at a lower rate than would be available if the enhanced losses were carried forward and relieved against future taxable profits.

The Company accounts for research and development tax credits at the time its realization becomes probable (Note 2). Due to the uncertainty of the approval of these tax credit claims and the potential that an election for a tax credit in the form of cash is not made, the Company did not record a receivable for the 2020 tax year at December 31, 2020.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Segment Information

12 Months Ended

Dec. 31, 2020

Segment Information

Segment Information

NOTE 10 – Segment Information

The chief operating decision maker (“CODM”) is the Company’s CEO. Neither the CODM nor the Company’s directors receive disaggregated financial information about the locations in which research and development is occurring. Therefore, the Company considers that it has only one reporting segment.

The following table presents the Company’s tangible fixed assets by geographic region:


	December 31,		December 31,
	2020		2019
United States	$	—	$	1,823
United Kingdom		—		3,190
Total	$	—	$	5,013

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 34
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 32
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (e)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Summary of Significant Accounting Policies

Basis of Presentation

Principles of Consolidation

Foreign Currency

Use of Estimates

Fair Value Measurements

Cash

Prepaid Expenses and Other Current Assets

Prepaid Expenses and Other Current Assets – Prepaid expenses and other current assets consist principally of prepaid expenses and VAT receivables.

Property and Equipment, net


		Years
Computers, peripheral, and scientific equipment		3
Office furniture and equipment		3

Property and equipment, consists of the following:


		December 31,		December 31,
		2020		2019
Computers, peripheral, and scientific equipment	$	85,489	$	85,489
Office furniture and equipment		79,449		79,449
Total property and equipment		164,938		164,938
Less: Accumulated depreciation		(164,938)		(159,925)
Property and equipment, net	$	—	$	5,013

Long-Lived Assets

Patent Acquisition Costs

Accrued Expenses

Research and Development Expenses

Stock-Based Compensation Expense

Leases

Concentration of Credit Risk

Income Taxes

Uncertain Tax Positions

Earnings (Loss) Per Share

Comprehensive Income (Loss)


Balance January 1, 2018	$	(236,246)
Net current period other comprehensive income		116,180
Balance December 31, 2018	$	(352,426)
Net current period other comprehensive loss		(3,566)
Balance December 31, 2019	$	(348,860)
Net current period other comprehensive loss		(299,205)
Balance December 31, 2020	$	(648,065)

Recent Accounting Pronouncements

Adopted during the year –

Recently Issued Accounting Pronouncements Not Yet Adopted -

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Significant Accounting Policies

Schedule of estimated useful lives of the assets

Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets at the following annual rates:


		Years
Computers, peripheral, and scientific equipment		3
Office furniture and equipment		3

Schedule of components of property and equipment


		December 31,		December 31,
		2020		2019
Computers, peripheral, and scientific equipment	$	85,489	$	85,489
Office furniture and equipment		79,449		79,449
Total property and equipment		164,938		164,938
Less: Accumulated depreciation		(164,938)		(159,925)
Property and equipment, net	$	—	$	5,013

Schedule of changes in accumulated other comprehensive loss


Balance January 1, 2018	$	(236,246)
Net current period other comprehensive income		116,180
Balance December 31, 2018	$	(352,426)
Net current period other comprehensive loss		(3,566)
Balance December 31, 2019	$	(348,860)
Net current period other comprehensive loss		(299,205)
Balance December 31, 2020	$	(648,065)

Restatement of Previously Issued Consolidated Financial Statements (Tables)

12 Months Ended

Dec. 31, 2020

Restatement of Previously Issued Consolidated Financial Statements

Schedule of restated financial statements

CONSOLIDATED BALANCE SHEETS

(in U.S. Dollars, except share data)


	December 31, 2019
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Assets
Current Assets:
Cash	$	5,731,691	$	—	$	—		5,731,691

Prepaid expenses and other current assets		712,975		—		—		712,975
Deferred financing costs		321,956		—		(321,956)		—
Total Current Assets		6,766,622		—		(321,956)		6,444,666

Property and equipment, net		5,013		—		—		5,013
Patent acquisition costs, net		30,163		—		—		30,163
Total Assets	$	6,801,798	$	—	$	(321,956)	$	6,479,842

Liabilities and Shareholders' (Deficiency) Equity

Current Liabilities:
Accounts payable	$	1,228,772	$	—	$	—	$	1,228,772
Accrued expenses		4,228,604		—		—		4,228,604
Liability related to stock options and warrants		3,116,880		(2,102,012)		—		1,014,868
Total Liabilities		8,574,256		(2,102,012)		—		6,472,244

Commitments and Contingencies

Shareholders' (Deficiency) Equity:
Share capital of $0.0001 par value Authorized: 10,000,000,000 ordinary shares; issued and outstanding: 2,245,865,913 at December 31, 2019 respectively		31,987,016						31,987,016
Additional paid-in capital		110,498,824		22,598,000		471,812		133,568,636
Accumulated other comprehensive loss		(348,860)		—		—		(348,860)
Accumulated deficit		(143,909,438)		(20,495,988)		(793,768)		(165,199,194)
Total Shareholders' (Deficiency) Equity		(1,772,458)		2,102,012		(321,956)		7,598
Total Liabilities and Shareholders' (Deficiency) Equity	$	6,801,798	$	—	$	(321,956)	$	6,479,842

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(in U.S. Dollars, except share data)


	Year Ended December 31, 2019
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	8,739,420	$	—	$	—	$	8,739,420
General and administrative expenses		8,223,700		—		—		8,223,700
Total Operating Expenses		16,963,120		—		—		16,963,120
Loss from Operations		(16,963,120)		—		—		(16,963,120)

Other Income (Expenses):
Interest income		5,531		—		—		5,531
Changes in fair value of option liabilities - (loss) gain		(60,640)		259,588		—		198,948
Foreign currency exchange losses		(67,256)		—		—		(67,256)
Other expenses		(20,306)		—		—		(20,306)
Total Other Income (Expenses)		(142,671)		259,588		—		116,917

Net Loss		(17,105,791)		259,588		—		(16,846,203)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		3,566		—		—		3,566

Comprehensive Loss	$	(17,102,225)	$	259,588	$	—	$	(16,842,637)

Loss per ordinary share (basic and diluted)	$	(0.01)					$	(0.01)

Weighted average ordinary shares (basic and diluted)		1,830,998,609						1,830,998,609

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(in U.S. Dollars, except share data)


	Year Ended December 31, 2018
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	11,795,376	$	—	$	—	$	11,795,376
General and administrative expenses		10,896,158		—		793,768		11,689,926
Litigation settlement gain		(2,700,000)		—		—		(2,700,000)
Total Operating Expenses		19,991,534		—		793,768		20,785,302
Loss from Operations		(19,991,534)		—		(793,768)		(20,785,302)

Other Income (Expenses):
Interest income		222,256		—		—		222,256
Changes in fair value of option liabilities - gain		3,238,911		(3,238,911)		—		—
Foreign currency exchange gains		81,501		—		—		81,501
Other expenses		(17,914)		—		—		(17,914)
Total Other Income (Expenses)		3,524,754		(3,238,911)		—		285,843

Net Loss		(16,466,780)		(3,238,911)		(793,768)		(20,499,459)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(116,180)		—		—		(116,180)

Comprehensive Loss	$	(16,582,960)	$	(3,238,911)	$	(793,768)	$	(20,615,639)

Loss per ordinary share (basic and diluted)	$	(0.01)					$	(0.01)

Weighted average ordinary shares (basic and diluted)		1,540,309,840						1,540,309,840

CONSOLIDATED STATEMENT OF CHANGES TO SHAREHOLDERS’ EQUITY (DEFICIT)

(in U.S. dollars, except share data)


	As Previously Reported							As Restated
	For the Year Ended			RPC		Other		For the Year Ended
	December 31, 2020			Adjustment		Adjustments		December 31, 2020
	Shares	Amount						Shares	Amount
Share Capital:
Balance January 1	2,245,865,913	$	31,987,016	$	—	$	—	2,245,865,913	$	31,987,016
Ordinary shares issued	627,029,600		8,098,632		—		—	627,029,600		8,098,632
Balance March 31	2,872,895,513		40,085,648		—		—	2,872,895,513		40,085,648
Ordinary shares issued	471,666,700		5,953,175				—	471,666,700		5,953,175
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital	40,760,900		523,778		—		—	40,760,900		523,778
Exercise of warrants	1,250,000		15,941		—		—	1,250,000		15,941
Balance June 30	3,386,573,113		46,578,543		—		—	3,386,573,113		46,578,543
Ordinary shares issued	—		—		—		—	—		—
Balance September 30	3,386,573,113		46,578,543		—		—	3,386,573,113		46,578,543

Additional Paid-In Capital:
Balance January 1			110,498,824		22,598,000		471,812			133,568,636
Ordinary shares issued			(1,003,264)		—		33,251			(970,013)
Stock-based compensation			100,504		—		—			100,504
Balance March 31			109,596,064		22,598,000		505,063			132,699,127
Ordinary shares issued			2,941,966		—		288,705			3,230,671
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital			376,222		—		—			376,222
Exercise of warrants			11,559		—		—			11,559
Stock-based compensation			63,330		—		—			63,330
Balance June 30			112,989,141		22,598,000		793,768			136,380,909
Stock-based compensation			81,107		—		—			81,107
Balance September 30			113,070,248		22,598,000		793,768			136,462,016

Accumulated Other Comprehensive Loss:
Balance January 1			(348,860)		—		—			(348,860)
Comprehensive loss			(222,725)		—		—			(222,725)
Balance March 31			(571,585)		—		—			(571,585)
Comprehensive loss			(46,037)		—		—			(46,037)
Balance June 30			(617,622)		—		—			(617,622)
Comprehensive loss			(3,676)		—		—			(3,676)
Balance September 30			(621,298)		—		—			(621,298)

Accumulated Deficit:
Balance January 1			(143,909,438)		(20,495,988)		(793,768)			(165,199,194)
Comprehensive loss			(3,385,062)		(360,345)		—			(3,745,407)
Balance March 31			(147,294,500)		(20,856,333)		(793,768)			(168,944,601)
Comprehensive loss			(8,316,655)		876,840		—			(7,439,815)
Balance June 30			(155,611,155)		(19,979,493)		(793,768)			(176,384,416)
Comprehensive income			1,441,960		(528,506)		—			913,454
Balance September 30			(154,169,195)		(20,507,999)		(793,768)			(175,470,962)

Total Shareholders' Equity		$	4,858,298	$	2,090,001	$	—		$	6,948,299

CONSOLIDATED STATEMENT OF CHANGES TO SHAREHOLDERS’ EQUITY (DEFICIT)

(in U.S. dollars, except share data)


	As Previously Reported							As Restated
	For the Year Ended			RPC		Other		For the Year Ended
	December 31, 2019			Adjustment		Adjustments		December 31, 2019
	Shares	Amount						Shares		Amount
Share Capital:
Balance January 1	1,580,693,413	$	23,651,277	$	—	$	—		1,580,693,413	$	23,651,277
Ordinary shares issued	5,000,000		65,598		—		—		5,000,000		65,598
Balance March 31	1,585,693,413		23,716,875		—		—		1,585,693,413		23,716,875
Ordinary shares issued	65,000,000		821,262		—		—		65,000,000		821,262
Balance June 30	1,650,693,413		24,538,137		—		—		1,650,693,413		24,538,137
Ordinary shares issued	450,172,500		5,585,564		—		—		450,172,500		5,585,564
Balance September 30	2,100,865,913		30,123,701		—		—		2,100,865,913		30,123,701
Ordinary shares issued	145,000,000		1,863,315		—		—		145,000,000		1,863,315
Balance December 31	2,245,865,913	$	31,987,016	$	—	$	—		2,245,865,913	$	31,987,016

Additional Paid-In Capital:
Balance January 1		$	106,616,083	$	22,598,000	$	208,768			$	129,422,851
Ordinary shares issued			86,955		—		5,190				92,145
Stock-based compensation			394,439		—		—				394,439
Balance March 31			107,097,477		22,598,000		213,958				129,909,435
Ordinary shares issued			453,737		—		41,085				494,822
Stock-based compensation			409,622		—		—				409,622
Balance June 30			107,960,836		22,598,000		255,043				130,813,879
Ordinary shares issued			1,461,996		—		136,682				1,598,678
Stock-based compensation			137,385		—		—				137,385
Balance September 30			109,560,217		22,598,000		391,725				132,549,942
Ordinary shares issued			832,666		—		80,087				912,753
Stock-based compensation			105,941		—		—				105,941
Balance December 31		$	110,498,824	$	22,598,000	$	471,812			$	133,568,636
			—

Accumulated Other Comprehensive Loss:
Balance January 1		$	(352,426)	$	—	$	—			$	(352,426)
Comprehensive income (loss)			107,168		—		—				107,168
Balance March 31			(245,258)		—		—				(245,258)
Comprehensive income (loss)			(160,116)		—		—				(160,116)
Balance June 30			(405,374)		—		—				(405,374)
Comprehensive income (loss)			3,281		—		—				3,281
Balance September 30			(402,093)		—		—				(402,093)
Comprehensive income (loss)			53,233		—		—				53,233
Balance December 31		$	(348,860)	$	—	$	—			$	(348,860)

Accumulated Deficit:
Balance January 1		$	(126,803,647)	$	(20,755,576)	$	(793,768)			$	(148,352,991)
Comprehensive income (loss)			(2,545,283)		2,358,772		—				(186,511)
Balance March 31			(129,348,930)		(18,396,804)		(793,768)				(148,539,502)
Comprehensive income (loss)			(4,117,084)		(1,830,689)		—				(5,947,773)
Balance June 30			(133,466,014)		(20,227,493)		(793,768)				(154,487,275)
Comprehensive income (loss)			(2,565,354)		(316,541)		—				(2,881,895)
Balance September 30			(136,031,368)		(20,544,034)		(793,768)				(157,369,170)
Comprehensive income (loss)			(7,878,070)		48,046		—				(7,830,024)
Balance December 31		$	(143,909,438)	$	(20,495,988)	$	(793,768)			$	(165,199,194)

Total Shareholders' Equity		$	(1,772,458)	$	2,102,012	$	(321,956)			$	7,598

CONSOLIDATED STATEMENT OF CHANGES TO SHAREHOLDERS’ EQUITY (DEFICIT)

(in U.S. dollars, except share data)


	As Previously Reported							As Restated
	For the Year Ended			RPC		Other		For the Year Ended
	December 31, 2018			Adjustment		Adjustments		December 31, 2018
	Shares	Amount						Shares	Amount
Share Capital:
Balance January 1	1,525,693,393	$	22,927,534	$	—	$	—	1,525,693,393	$	22,927,534
Ordinary shares issued	—		—		—		—	—		—
Balance March 31	1,525,693,393		22,927,534		—		—	1,525,693,393		22,927,534
Ordinary shares issued	—		—		—		—	—		—
Balance June 30	1,525,693,393		22,927,534		—		—	1,525,693,393		22,927,534
Issuance of share capital to directors	20		—		—		—	20		—
Issuance of share capital related to financing, net of issuance costs	55,000,000		723,743		—		—	55,000,000		723,743
Balance September 30	1,580,693,413		23,651,277		—		—	1,580,693,413		23,651,277
Ordinary shares issued	—		—		—		—	—		—
Balance December 31	1,580,693,413	$	23,651,277	$	—	$	—	1,580,693,413	$	23,651,277
Additional Paid-In Capital:
Balance January 1		$	104,799,550	$	22,598,000	$	—		$	127,397,550
Stock-based compensation			475,958				—			475,958
Balance March 31			105,275,508		22,598,000		—			127,873,508
Stock-based compensation			351,981				—			351,981
Balance June 30			105,627,489		22,598,000		—			128,225,489
Issuance of share capital to directors			—		—		—
Issuance of share capital related to financing, net of issuance costs			207,829		—		64,455			272,284
Stock-based compensation			403,769		—		—			403,769
Balance September 30			106,239,087		22,598,000		64,455			128,901,542
Issuance of share capital related to financing, net of issuance costs			(40,340)		—		144,313			103,973
Stock-based compensation			417,336		—		—			417,336
Balance December 31		$	106,616,083	$	22,598,000	$	208,768		$	129,422,851
Accumulated Other Comprehensive Loss:
Balance January 1		$	(236,246)	$	—	$	—		$	(236,246)
Comprehensive income (loss)			32,799		—		—			32,799
Balance March 31			(203,447)		—		—			(203,447)
Comprehensive income (loss)			(27,188)		—		—			(27,188)
Balance June 30			(230,635)		—		—			(230,635)
Comprehensive income (loss)			(65,848)		—		—			(65,848)
Balance September 30			(296,483)		—		—			(296,483)
Comprehensive income (loss)			(55,943)		—		—			(55,943)
Balance December 31		$	(352,426)	$	—	$	—		$	(352,426)
Accumulated Deficit:
Balance January 1		$	(110,336,867)	$	(17,516,665)	$	—		$	(127,853,532)
Comprehensive income (loss)			(1,338,575)		(2,945,531)		—			(4,284,106)
Balance March 31			(111,675,442)		(20,462,196)		—			(132,137,638)
Comprehensive income (loss)			(8,022,196)		152,557		—			(7,869,639)
Balance June 30			(119,697,638)		(20,309,639)					(140,007,277)
Comprehensive income (loss)			(3,593,255)		715,846		(649,455)			(3,526,864)
Balance September 30			(123,290,893)		(19,593,793)		(649,455)			(143,535,141)
Comprehensive income (loss)			(3,512,754)		(1,161,783)		(144,313)			(4,818,850)
Balance December 31		$	(126,803,647)	$	(20,755,576)	$	(793,768)		$	(148,352,991)

Total Shareholders' Equity		$	3,111,287	$	1,842,424	$	(585,000)		$	4,368,711

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in U.S. Dollars )


		Year Ended December 31, 2019
	As Previously		RPC		Other			As
	Reported		Adjustment		Adjustments			Restated
Cash Flows from Operating Activities:
Net loss	$	(17,105,791)	$	259,588	$	—	$	(16,846,203)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		19,205		—		—		19,205
Stock-based compensation		1,047,387		—		—		1,047,387
Changes in fair value of the liability for options and warrants		60,640		(259,588)		—		(198,948)
Foreign currency exchange (gains) loss		(30,366)		—		—		(30,366)
Changes in operating assets and liabilities:
Decrease in assets:
Prepaid expenses and other current assets		710,335		—		—		710,335
Increase in liabilities:
Accounts payable and accrued expenses		2,380,277		—		—		2,380,277
Total adjustments		4,187,478		(259,588)		—		3,927,890
Net Cash Used in Operating Activities		(12,918,313)		—		—		(12,918,313)

Cash Flows from Financing Activities:
Net proceeds from issuance of shares		12,647,953		—		—		12,647,953
Net Cash Provided by Financing Activities		12,647,953		—		—		12,647,953

Effect of Exchange Rates on Cash		34,084		—		—		34,084

Net (Decrease) in Cash		(236,276)		—		—		(236,276)
Cash, beginning of period		5,967,967		—		—		5,967,967
Cash, end of period	$	5,731,691	$	—	$	—	$	5,731,691

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in U.S. Dollars )


	Year Ended December 31, 2018
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Cash Flows from Operating Activities:
Net loss	$	(16,466,780)	$	(3,238,911)	$	(793,768)	$	(20,499,459)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		35,848		—		—		35,848
Stock-based compensation		1,649,044		—		—		1,649,044
Financing Expense		—		—		600,000		600,000
Changes in fair value of the liability for options and warrants		(3,238,911)		3,238,911		—		—
Foreign currency exchange (gains) loss		(104,719)		—		—		(104,719)
Changes in operating assets and liabilities:
(Increase) in assets:
Prepaid expenses and other current assets		(716,859)		—		—		(716,859)
(Decrease) in liabilities:								—
Accounts payable and accrued expenses		(3,689,860)		—		—		(3,689,860)
Other liabilities		(48,003)		—		—		(48,003)
Total adjustments		(6,113,460)		3,238,911		600,000		(2,274,549)
Net Cash Used in Operating Activities		(22,580,240)		—		(193,768)		(22,774,008)

Cash Flows from Financing Activities:
Net proceeds from issuance of shares		306,232		—		193,768		500,000
Net Cash Provided by Financing Activities		306,232		—		193,768		500,000

Effect of Exchange Rates on Cash		(6,931)		—		—		(6,931)

Net (Decrease) in Cash		(22,280,939)		—		—		(22,280,939)
Cash, beginning of period		28,248,906		—		—		28,248,906
Cash, end of period	$	5,967,967	$	—	$	—	$	5,967,967

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED

(in U.S. Dollars, except share data)


	March 31,
	2020
	As
	Previously		RPC		Other		As
	Reported		Adjustments		Adjustment		Restated
Assets
Current Assets:
Cash	$	7,822,180	$	—	$	—	$	7,822,180
Prepaid expenses and other current assets		1,828,444		—		—		1,828,444
Deferred financing costs		288,705		—		(288,705)		—
Total Current Assets		9,939,329		—		(288,705)		9,650,624

Property and equipment, net		2,096		—		—		2,096
Patent acquisition costs, net		27,566		—		—		27,566
Total Assets	$	9,968,991	$	—	$	(288,705)	$	9,680,286

Liabilities and Shareholders' (Deficiency) Equity

Current Liabilities:
Accounts payable	$	966,059	$	—	$	—	$	966,059
Accrued expenses		2,630,857		—		—		2,630,857
Liability related to stock options and warrants		4,556,448		(1,741,667)		—		2,814,781
Total Liabilities		8,153,364		(1,741,667)		—		6,411,697

Commitments and Contingencies

Shareholders' (Deficiency) Equity:
Share capital of $0.0001 par value Authorized: 10,000,000,000 ordinary shares; issued and outstanding: 2,872,895,513 at March 31, 2020		40,085,648		—		—		40,085,648
Additional paid-in capital		109,596,064		22,598,000		505,063		132,699,127
Accumulated other comprehensive loss		(571,585)		—		—		(571,585)
Accumulated deficit		(147,294,500)		(20,856,333)		(793,768)		(168,944,601)
Total Shareholders' Equity (Deficiency)		1,815,627		1,741,667		(288,705)		3,268,589
Total Liabilities and Shareholders' Equity (Deficiency)	$	9,968,991	$	—	$	(288,705)	$	9,680,286

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED

(in U.S. Dollars, except share data)


	June 30,
	2020
	As
	Previously		RPC		Other		As
	Reported		Adjustments		Adjustment		Restated
Assets
Current Assets:
Cash	$	12,746,266	$	—	$	—	$	12,746,266
Prepaid expenses and other current assets		1,679,425		—		—		1,679,425
Total Current Assets		14,425,691		—		—		14,425,691

Patent acquisition costs, net		26,489		—		—		26,489
Total Assets	$	14,452,180	$	—	$	—	$	14,452,180

Liabilities and Shareholders' Equity

Current Liabilities:
Accounts payable	$	2,191,168	$	—	$	—	$	2,191,168
Accrued expenses		1,941,083		—		—		1,941,083
Liability related to stock options and warrants		6,981,022		(2,618,507)		—		4,362,515
Total Liabilities		11,113,273		(2,618,507)		—		8,494,766

Commitments and Contingencies

Shareholders' Equity:
Share capital of $0.0001 par value Authorized: 10,000,000,000 ordinary shares; issued and outstanding: 3,386,573,113 at June 30, 2020		46,578,543		—		—		46,578,543
Additional paid-in capital		112,989,141		22,598,000		793,768		136,380,909
Accumulated other comprehensive loss		(617,622)						(617,622)
Accumulated deficit		(155,611,155)		(19,979,493)		(793,768)		(176,384,416)
Total Shareholders' Equity		3,338,907		2,618,507		—		5,957,414
Total Liabilities and Shareholders' Equity	$	14,452,180	$	—	$	—	$	14,452,180

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED

(in U.S. Dollars, except share data)


	September 30,
	2020
	As
	Previously		RPC		Other		As
	Reported		Adjustments		Adjustment		Restated
Assets
Current Assets:
Cash	$	12,317,798	$	—	$	—	$	12,317,798
Prepaid expenses and other current assets		1,349,244		—		—		1,349,244
Total Current Assets		13,667,042		—		—		13,667,042

Patent acquisition costs, net		26,674		—		—		26,674
Total Assets	$	13,693,716	$	—	$	—	$	13,693,716

Liabilities and Shareholders' Equity

Current Liabilities:
Accounts payable	$	2,410,530	$	—	$	—	$	2,410,530
Accrued expenses		975,893		—		—		975,893
Liability related to stock options and warrants		5,448,995		(2,090,001)		—		3,358,994
Total Liabilities		8,835,418		(2,090,001)		—		6,745,417

Commitments and Contingencies

Shareholders' Equity:
Share capital of $0.0001 par value
Authorized: 10,000,000,000 ordinary shares; issued and outstanding:
3,386,573,113 at September 30, 2020		46,578,543		—		—		46,578,543
Additional paid-in capital		113,070,248		22,598,000		793,768		136,462,016
Accumulated other comprehensive loss		(621,298)		—		—		(621,298)
Accumulated deficit		(154,169,195)		(20,507,999)		(793,768)		(175,470,962)
Total Shareholders' Equity		4,858,298		2,090,001		—		6,948,299
Total Liabilities and Shareholders' Equity	$	13,693,716	$	—	$	—	$	13,693,716

CONDENSED CONSOLIDATED BALANCE SHEETS- UNAUDITED

(in U.S. Dollars, except share data)


	March 31,
	2019
	As Previously		RPC		Other		As
	Reported		Adjustments		Adjustment		Restated
Assets
Current Assets:
Cash	$	6,145,555	$	—	$	—	$	6,145,555
Prepaid expenses and other current assets		1,887,780		—		—		1,887,780
Deferred financing costs		579,810		—		(579,810)		—
Total Current Assets		8,613,145		—		(579,810)		8,033,335

Restricted cash		147,924		—		—		147,924
Property and equipment, net		15,834		—		—		15,834
Patent acquisition costs, net		32,867		—		—		32,867
Total Assets	$	8,809,770	$	—	$	(579,810)	$	8,229,960

Liabilities and Shareholders' Equity (Deficiency)

Current Liabilities:
Accounts payable	$	1,763,182	$	—	$	—	$	1,763,182
Accrued expenses		1,625,228		—		—		1,625,228
Liability related to stock options and warrants		4,201,196		(4,201,196)		—		—
Total Liabilities		7,589,606		(4,201,196)		—		3,388,410

Commitments and Contingencies

Shareholders' Equity (Deficiency):
Share capital of $0.0001 par value Authorized: 10,000,000,000 ordinary shares; issued and outstanding: 1,585,693,413 at March 31, 2019		23,716,875		—		—		23,716,875
Additional paid-in capital		107,097,477		22,598,000		213,958		129,909,435
Accumulated other comprehensive loss		(245,258)		—		—		(245,258)
Accumulated deficit		(129,348,930)		(18,396,804)		(793,768)		(148,539,502)
Total Shareholders' Equity (Deficiency)		1,220,164		4,201,196		(579,810)		4,841,550
Total Liabilities and Shareholders' Equity (Deficiency)	$	8,809,770	$	—	$	(579,810)	$	8,229,960

CONDENSED CONSOLIDATED BALANCE SHEETS- UNAUDITED

(in U.S. Dollars, except share data)


	June 30,
	2019
	As Previously		RPC		Other		As
	Reported		Adjustments		Adjustment		Restated
Assets
Current Assets:
Cash	$	2,736,663	$	—	$	—	$	2,736,663
Prepaid expenses and other current assets		1,747,365		—		—		1,747,365
Deferred financing costs		606,508		—		(538,725)		67,783
Total Current Assets		5,090,536		—		(538,725)		4,551,811

Restricted cash		17,364		—		—		17,364
Property and equipment, net		12,056		—		—		12,056
Patent acquisition costs, net		31,065		—		—		31,065
Total Assets	$	5,151,021	$	—	$	(538,725)	$	4,612,296

Liabilities and Shareholders' (Deficiency) Equity

Current Liabilities:
Accounts payable	$	1,481,536	$	—	$	—	$	1,481,536
Accrued expenses		2,671,393		—		—		2,671,393
Liability related to stock options and warrants		2,370,507		(2,370,507)		—		—
Total Liabilities		6,523,436		(2,370,507)		—		4,152,929

Commitments and Contingencies

Shareholders' (Deficiency) Equity:
Share capital of $0.0001 par value Authorized: 10,000,000,000 ordinary shares; issued and outstanding: 1,650,693,413 at June 30, 2019		24,538,137		—		—		24,538,137
Additional paid-in capital		107,960,836		22,598,000		255,043		130,813,879
Accumulated other comprehensive loss		(405,374)		—		—		(405,374)
Accumulated deficit		(133,466,014)		(20,227,493)		(793,768)		(154,487,275)
Total Shareholders' (Deficiency) Equity		(1,372,415)		2,370,507		(538,725)		459,367
Total Liabilities and Shareholders' (Deficiency) Equity	$	5,151,021	$	—	$	(538,725)	$	4,612,296

CONDENSED CONSOLIDATED BALANCE SHEETS- UNAUDITED

(in U.S. Dollars, except share data)


	September 30,
	2019
	As Previously		RPC		Other		As
	Reported		Adjustments		Adjustment		Restated
Assets
Current Assets:
Cash	$	6,268,667	$	—	$	—	$	6,268,667
Tax credit receivable		2,902,987		—		—		2,902,987
Prepaid expenses and other current assets		1,058,527		—		—		1,058,527
Deferred financing costs		402,042		—		(402,042)		—
Total Current Assets		10,632,223		—		(402,042)		10,230,181

Property and equipment, net		8,388		—		—		8,388
Patent acquisition costs, net		29,147		—		—		29,147
Total Assets	$	10,669,758	$	—	$	(402,042)	$	10,267,716

Liabilities and Shareholders' (Deficiency) Equity

Current Liabilities:
Accounts payable	$	1,315,411	$	—	$	—	$	1,315,411
Accrued expenses		3,035,056		—		—		3,035,056
Liability related to stock options and warrants		3,068,834		(2,053,965)		—		1,014,869
Total Liabilities		7,419,301		(2,053,965)		—		5,365,336

Commitments and Contingencies

Shareholders' (Deficiency) Equity:
Share capital of $0.0001 par value Authorized: 10,000,000,000 ordinary shares; issued and outstanding: 2,100,865,913 at September 30, 2019		30,123,701		—		—		30,123,701
Additional paid-in capital		109,560,217		22,598,000		391,726		132,549,942
Capital redemption reserve								—
Accumulated other comprehensive loss		(402,093)						(402,093)
Accumulated deficit		(136,031,368)		(20,544,034)		(793,768)		(157,369,170)
Total Shareholders' Equity (Deficiency)		3,250,457		2,053,965		(402,042)		4,902,380
Total Liabilities and Shareholders' Equity	$	10,669,758	$	—	$	(402,042)	$	10,267,716

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Three Months Ended March 31, 2020
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	2,732,165	$	—	$	—	$	2,732,165
General and administrative expenses		2,194,809		—		—		2,194,809
Total Operating Expenses		4,926,974		—		—		4,926,974
Loss from Operations		(4,926,974)		—		—		(4,926,974)

Other Income (Expenses):
Interest income		1,010		—		—		1,010
Changes in fair value of option liabilities - gain		1,309,801		(360,345)		—		949,456
Foreign currency exchange gains		233,404		—		—		233,404
Other expenses		(2,303)		—		—		(2,303)
Total Other Income (Expenses)		1,541,912		(360,345)		—		1,181,567

Net Loss		(3,385,062)		(360,345)		—		(3,745,407)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(222,725)		—		—		(222,725)

Comprehensive Loss	$	(3,607,787)	$	(360,345)	$	—	$	(3,968,132)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		2,516,280,709						2,516,280,709

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Three Months Ended June 30, 2020
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	3,020,432	$	—	$	—	$	3,020,432
General and administrative expenses		2,891,177		—		—		2,891,177
Total Operating Expenses		5,911,609		—		—		5,911,609
Loss from Operations		(5,911,609)		—		—		(5,911,609)

Other Income (Expenses):
Interest income		1,152		—		—		1,152
Changes in fair value of option liabilities - (loss)		(2,432,449)		876,840		—		(1,555,609)
Foreign currency exchange gains		27,992		—		—		27,992
Other expenses		(1,741)		—		—		(1,741)
Total Other Income (Expenses)		(2,405,046)		876,840		—		(1,528,206)

Net Loss		(8,316,655)		876,840		—		(7,439,815)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(46,037)		—		—		(46,037)

Comprehensive Loss	$	(8,362,692)	$	876,840	$	—	$	(7,485,852)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		3,002,482,637						3,002,482,637

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Six Months Ended June 30, 2020
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	5,752,597	$	—	$	—	$	5,752,597
General and administrative expenses		5,085,986		—		—		5,085,986
Total Operating Expenses		10,838,583		—		—		10,838,583
Loss from Operations		(10,838,583)		—		—		(10,838,583)

Other Income (Expenses):
Interest income		2,162		—		—		2,162
Changes in fair value of option liabilities - (loss)		(1,122,648)		516,495		—		(606,153)
Foreign currency exchange gains		261,396		—		—		261,396
Other expenses		(4,044)		—		—		(4,044)
Total Other Income (Expenses)		(863,134)		516,495		—		(346,639)

Net Loss		(11,701,717)		516,495		—		(11,185,222)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(268,762)		—		—		(268,762)

Comprehensive Loss	$	(11,970,479)	$	516,495	$	—	$	(11,453,984)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		2,759,381,673						2,759,381,673

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - UNAUDITED

(in U.S. Dollars)


	Three Months Ended September 30, 2020
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	(1,592,531)	$	—	$	—	$	(1,592,531)
General and administrative expenses		1,839,414		—		—		1,839,414
Total Operating Expenses		246,883		—		—		246,883
Loss from Operations		(246,883)		—		—		(246,883)

Other Income (Expenses):
Interest income		6,132		—		—		6,132
Changes in fair value of option liabilities - gain		1,532,027		(528,506)		—		1,003,521
Foreign currency exchange gains		156,360		—		—		156,360
Other expenses		(5,676)		—		—		(5,676)
Total Other Income (Expenses)		1,688,843		(528,506)		—		1,160,337

Net Income / (Loss)		1,441,960		(528,506)		—		913,454

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(3,676)		—		—		(3,676)

Comprehensive Income / (Loss)	$	1,438,284	$	(528,506)	$	—	$	909,778

Loss per ordinary share (basic and diluted)	$	0.00					$	0.00
Weighted average ordinary shares (basic and diluted)		3,386,573,113						3,386,573,113

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(in U.S. Dollars)


	Nine Months Ended September 30, 2020
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	4,160,066	$	—	$	—	$	4,160,066
General and administrative expenses		6,925,400		—		—		6,925,400
Total Operating Expenses		11,085,466		—		—		11,085,466
Loss from Operations		(11,085,466)		—		—		(11,085,466)

Other Income (Expenses):
Interest income		8,294		—		—		8,294
Changes in fair value of option liabilities - gain		409,379		(12,011)		—		397,368
Foreign currency exchange gains		417,756		—		—		417,756
Other expenses		(9,720)		—		—		(9,720)
Total Other Income (Expenses)		825,709		(12,011)		—		813,698

Net Loss		(10,259,757)		(12,011)		—		(10,271,768)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(272,438)		—		—		(272,438)

Comprehensive Loss	$	(10,532,195)	$	(12,011)	$	—	$	(10,544,206)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		3,336,002,895						3,336,002,895

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Three Months Ended March 31, 2019
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustment		Restated
Operating Expenses:
Research and development income	$	(2,318,360)	$	—	$	—	$	(2,318,360)
General and administrative expenses		2,306,398		—		—		2,306,398
Total Operating Expenses		(11,962)		—		—		(11,962)
Gain from Operations		11,962		—		—		11,962

Other Income (Expenses):				—		—
Interest income		1,286		—		—		1,286
Changes in fair value of option liabilities - (loss)		(2,358,772)		2,358,772		—		—
Foreign currency exchange losses		(195,635)		—		—		(195,635)
Other expenses		(4,124)		—		—		(4,124)
Total Other Income (Expenses)		(2,557,245)		2,358,772		—		(198,473)

Net Loss		(2,545,283)		2,358,772		—		(186,511)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		107,168		—		—		107,168
				—		—
Comprehensive Loss	$	(2,438,115)	$	2,358,772	$	—	$	(79,343)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		1,580,860,080						1,580,860,080

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Three Months Ended June 30, 2019
	As Previously		RPC			Other	As
	Reported		Adjustment		Adjustments			Restated
Operating Expenses:
Research and development expenses	$	3,593,341	$	—	$	—	$	3,593,341
General and administrative expenses		2,438,106		—		—		2,438,106
Total Operating Expenses		6,031,447		—		—		6,031,447
Loss from Operations		(6,031,447)		—		—		(6,031,447)

Other Income (Expenses):
Interest income		449		—		—		449
Changes in fair value of option liabilities - gain		1,830,689		(1,830,689)		—		—
Foreign currency exchange gains		86,438		—		—		86,438
Other expenses		(3,213)		—		—		(3,213)
Total Other Income (Expenses)		1,914,363		(1,830,689)				83,674

Net Loss		(4,117,084)		(1,830,689)		—		(5,947,773)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(160,116)		—		—		(160,116)

Comprehensive Loss	$	(4,277,200)	$	(1,830,689)	$	—	$	(6,107,889)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		1,607,121,984						1,607,121,984

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Six Months Ended June 30, 2019
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	1,274,981	$	—	$	—	$	1,274,981
General and administrative expenses		4,744,504		—		—		4,744,504
Total Operating Expenses		6,019,485		—		—		6,019,485
Loss from Operations		(6,019,485)		—		—		(6,019,485)

Other Income (Expenses):
Interest income		1,735		—		—		1,735
Changes in fair value of option liabilities - (loss)		(528,083)		528,083				—
Foreign currency exchange losses		(109,198)		—		—		(109,198)
Other expenses		(7,336)		—		—		(7,336)
Total Other Income (Expenses)		(642,882)		528,083		—		(114,799)

Net Loss		(6,662,367)		528,083		—		(6,134,284)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(52,948)		—		—		(52,948)

Comprehensive Loss	$	(6,715,315)	$	528,083	$	—	$	(6,187,232)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		1,594,063,579						1,594,063,579

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Three Months Ended September 30, 2019
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	1,763,057	$	—	$	—	$	1,763,057
General and administrative expenses		1,354,263		—		—		1,354,263
Total Operating Expenses		3,117,320		—		—		3,117,320
Loss from Operations		(3,117,320)		—		—		(3,117,320)

Other Income (Expenses):
Interest income		2,057						2,057
Changes in fair value of option liabilities - gain		515,489		(316,541)		—		198,948
Foreign currency exchange gains		37,209		—		—		37,209
Other expenses		(2,788)		—		—		(2,788)
Total Other Income (Expenses)		551,967		(316,541)				235,426

Net Loss		(2,565,353)		(316,541)		—		(2,881,894)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		3,281		—		—		3,281

Comprehensive Loss	$	(2,562,072)	$	(316,541)	$	—	$	(2,878,613)

Loss per ordinary share (basic and diluted)	$	(0.00)					$	(0.00)
Weighted average ordinary shares (basic and diluted)		1,971,025,222						1,971,025,222

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - UNAUDITED

(in U.S. Dollars)


	Nine Months Ended September 30, 2019
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Operating Expenses:
Research and development expenses	$	3,038,038	$	—	$	—	$	3,038,038
General and administrative expenses		6,098,767		—		—		6,098,767
Total Operating Expenses		9,136,805		—		—		9,136,805
Loss from Operations		(9,136,805)		—		—		(9,136,805)

Other Income (Expenses):
Interest income		3,792		—		—		3,792
Changes in fair value of option liabilities - (loss) gain		(12,594)		211,542		—		198,948
Foreign currency exchange losses		(71,989)						(71,989)
Other expenses		(10,124)		—		—		(10,124)
Total Other Income (Expenses)		(90,915)		211,542		—		120,627

Net Loss		(9,227,720)		211,542		—		(9,016,178)

Other Comprehensive Income:
Foreign Currency Translation Adjustment		(49,667)		—		—		(49,667)

Comprehensive Loss	$	(9,277,387)	$	211,542	$	—	$	(9,065,845)

Loss per ordinary share (basic and diluted)	$	(0.01)					$	(0.01)
Weighted average ordinary shares (basic and diluted)		1,721,098,272						1,721,098,272

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(in U.S. Dollars )


	Three Months Ended March 31, 2020
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Cash Flows from Operating Activities:
Net loss	$	(3,385,062)	$	(360,345)	$	—	$	(3,745,407)
Adjustments to reconcile net loss to net cash used in operating activities:				—		—
Depreciation and amortization		3,877		—		—		3,877
Stock-based compensation		100,504		—		—		100,504
Changes in fair value of the liability for options and warrants		(1,309,801)		360,345		—		(949,456)
Foreign currency exchange (gains) loss		(171,806)		—		—		(171,806)
Changes in operating assets and liabilities:
(Increase) in assets:
Prepaid expenses and other current assets		(1,115,329)		—		—		(1,115,329)
(Decrease) in liabilities:
Accounts payable and accrued expenses		(1,862,039)		—		—		(1,862,039)
Total adjustments		(4,354,594)		360,345		—		(3,994,249)
Net Cash Used in Operating Activities		(7,739,656)		—				(7,739,656)

Cash Flows from Financing Activities:
Net proceeds from issuance of shares		7,095,368		—		—		7,095,368
Proceeds from issuance of warrants		2,782,620		—		—		2,782,620
Net Cash Provided by Financing Activities		9,877,988		—				9,877,988

Effect of Exchange Rates on Cash		(47,843)		—		—		(47,843)

Net Increase in Cash		2,090,489		—		—		2,090,489
Cash, beginning of period		5,731,691		—		—		5,731,691
Cash, end of period	$	7,822,180	$	—	$	—	$	7,822,180

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(in U.S. Dollars )


	Six Months Ended June 30, 2020
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustment		Restated
Cash Flows from Operating Activities:
Net loss	$	(11,701,717)	$	516,495	$	—	$	(11,185,222)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		6,921		—		—		6,921
Stock-based compensation		163,834		—		—		163,834
Financing Expense		900,000		—		—		900,000
Changes in fair value of the liability for options and warrants		1,122,648		(516,495)		—		606,153
Foreign currency exchange (gains) loss		(210,896)		—		—		(210,896)
Changes in operating assets and liabilities:
(Increase) in assets:
Prepaid expenses and other current assets		(966,222)		—		—		(966,222)
(Decrease) in liabilities:		—		—
Accounts payable and accrued expenses		(1,327,686)		—		—		(1,327,686)
Total adjustments		(311,401)		(516,495)		—		(827,896)
Net Cash Used in Operating Activities		(12,013,118)		—		—		(12,013,118)


Cash Flows from Financing Activities:
Net proceeds from issuance of shares		19,053,960		—		—		19,053,960
Proceeds from issuance of warrants		27,500		—		—		27,500
Net Cash Provided by Financing Activities		19,081,460		—		—		19,081,460

Effect of Exchange Rates on Cash		(53,767)		—		—		(53,767)

Net Increase in Cash		7,014,575		—		—		7,014,575
Cash, beginning of period		5,731,691		—		—		5,731,691
Cash, end of period	$	12,746,266	$	—	$	—	$	12,746,266

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(in U.S. Dollars )


	Nine Months Ended September 30, 2020
	As Previously		RPC		Other		As
	Reported		Adjustments		Adjustments		Restated
Cash Flows from Operating Activities:
Net loss	$	(10,259,757)	$	(12,011)	$	—	$	(10,271,768)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		7,907		—		—		7,907
Stock-based compensation		244,941		—		—		244,941
Financing Expense		900,000		—		—		900,000
Changes in fair value of the liability for options and warrants		(409,379)		12,011		—		(397,368)
Foreign currency exchange (gains) loss		(488,532)		—		—		(488,532)
Changes in operating assets and liabilities:
(Increase) in assets:
Prepaid expenses and other current assets		(635,758)		—		—		(635,758)
(Decrease) in liabilities:		—
Accounts payable and accrued expenses		(2,076,709)		—		—		(2,076,709)
Total adjustments		(2,457,530)		12,011		—		(2,445,519)
Net Cash Used in Operating Activities		(12,717,287)		—		—		(12,717,287)

Cash Flows from Financing Activities:
Net proceeds from issuance of shares		19,053,960		—		—		19,053,960
Proceeds from issuance of warrants		27,500		—		—		27,500
Net Cash Provided by Financing Activities		19,081,460		—		—		19,081,460

Effect of Exchange Rates on Cash		221,934		—		—		221,934

Net Increase in Cash		6,586,107		—		—		6,586,107
Cash, beginning of period		5,731,691		—		—		5,731,691
Cash, end of period	$	12,317,798	$	—	$	—	$	12,317,798

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(in U.S. Dollars )


	Three Months Ended March 31, 2019
	As Previously		RPC		Other		As
	Reported		Adjustment		Adjustments		Restated
Cash Flows from Operating Activities:
Net loss	$	(2,545,283)	$	2,358,772	$	—	$	(186,511)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		5,566		—		—		5,566
Stock-based compensation		394,439		—		—		394,439
Changes in fair value of the liability for options and warrants		2,358,772		(2,358,772)		—		—
Foreign currency exchange (gains) loss		166,593		—		—		166,593
Changes in operating assets and liabilities:
(Increase) in assets:
Prepaid expenses and other current assets		(464,696)		—		—		(464,696)
Increase in liabilities:
Accounts payable and accrued expenses		313,553		—		—		313,553
Total adjustments		2,774,227		(2,358,772)		—		415,455
Net Cash Used in Operating Activities		228,944		—		—		228,944


Cash Flows from Financing Activities:
Net proceeds from issuance of shares		157,743		—		—		157,743
Net Cash Provided by Financing Activities		157,743		—		—		157,743

Effect of Exchange Rates on Cash		(61,175)		—		—		(61,175)

Net Increase in Cash and Restricted Cash		325,512		—		—		325,512
Cash and Restricted cash, beginning of period		5,967,967		—		—		5,967,967
Cash and Restricted cash, end of period	$	6,293,479	$	—	$	—	$	6,293,479

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(in U.S. Dollars )


	Six Months Ended June 30, 2019
	As Previously		RPC		Other		As
	Reported		Adjustments		Adjustments		Restated
Cash Flows from Operating Activities:
Net loss	$	(6,662,367)	$	528,083	$	—	$	(6,134,284)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		10,266		—		—		10,266
Stock-based compensation		804,061		—		—		804,061
Changes in fair value of the liability for options and warrants		528,083		(528,083)		—		—
Foreign currency exchange (gains) loss		91,905		—		—		91,905
Changes in operating assets and liabilities:
(Increase) in assets:
Prepaid expenses and other current assets		(324,111)		—		—		(324,111)
Increase in liabilities:
Accounts payable and accrued expenses		1,008,598		—		—		1,008,598
Total adjustments		2,118,802		(528,083)		—		1,590,719
Net Cash Used in Operating Activities		(4,543,565)		—		—		(4,543,565)

Cash Flows from Financing Activities:
Net proceeds from issuance of shares		1,473,828		—				1,473,828
Net Cash Provided by Financing Activities		1,473,828		—		—		1,473,828

Effect of Exchange Rates on Cash		(144,203)		—		—		(144,203)

Net (Decrease) in Cash		(3,213,940)		—		—		(3,213,940)
Cash, beginning of period		5,967,967		—		—		5,967,967
Cash, end of period	$	2,754,027	$	—	$	—	$	2,754,027

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(in U.S. Dollars )


	Nine Months Ended September 30, 2019
	As Previously		RPC		Other		As
	Reported		Adjustments		Adjustments		Restated
Cash Flows from Operating Activities:
Net loss	$	(9,227,720)	$	211,542	$	—	$	(9,016,178)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		14,892		—		—		14,892
Stock-based compensation		941,446		—		—		941,446
Changes in fair value of the liability for options and warrants		12,594		(211,542)		—		(198,948)
Foreign currency exchange (gains) loss		67,922						67,922
Changes in operating assets and liabilities:								—
(Increase) decrease in assets:
Tax credit receivable		(2,902,987)		—		—		(2,902,987)
Prepaid expenses and other current assets		364,594		—		—		364,594
Increase in liabilities:
Accounts payable and accrued expenses		1,275,245		—		—		1,275,245
Total adjustments		(226,294)		(211,542)		—		(437,836)
Net Cash Used in Operating Activities		(9,454,014)		—				(9,454,014)

Cash Flows from Financing Activities:
Net proceeds from issuance of shares		9,871,886		—		—		9,871,886
Net Cash Provided by Financing Activities		9,871,886		—		—		9,871,886

Effect of Exchange Rates on Cash		(117,172)		—		—		(117,172)

Net Increase in Cash		300,700		—		—		300,700
Cash, beginning of period		5,967,967		—		—		5,967,967
Cash, end of period	$	6,268,667	$	—	$	—	$	6,268,667

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Measurements

Schedule of assumptions used for the fair value calculations

Below are the assumptions used for the fair value calculations of the 2019 Warrants as of:


	December 31,		December 8,
	2019		2020
Standard deviation	110.00	%	95.00	%
Annual risk-free interest rate	1.66	%	0.25	%
Required return on equity	19.90	%	19.30	%
Expected life in years	4.50		3.55
Annual turnover rate	0.00	%	0.00	%
Period risk-free rate	0.08	%	0.08	%

Below are the assumptions used for the fair value calculations of the 2020 Warrants as of:


	February 21,		March 3,		December 8,
	2020		2020		2020
Standard deviation	110.00	%	110.00	%	95.00	%
Annual risk-free interest rate	1.3	%	0.77	%	0.31-0.32	%
Required return on equity	19.90	%	19.90	%	19.30	%
Expected life in years	5.00		5.00		4.21-4.24
Annual turnover rate	0.00	%	0.00	%	0.00	%
Period risk-free rate	0.08	%	0.08	%	0.08	%

Schedule of financial liabilities measured at fair value on a recurring basis


	December 8,		December 31,
	2020		2019
			As Restated
Warrants	$	3,199,553	$	1,014,868
Total	$	3,199,553	$	1,014,868

Schedule of fair value measurements using significant unobservable inputs (Level 3)

Fair value measurements using significant unobservable inputs (Level 3):


	Fair value of liabilities
	related to warrants
Balance at December 31, 2018 – As Restated	$	—

Issuance of 2019 Warrants		1,213,816

Change in fair value of liabilities related to warrants – As Restated		(198,948)

Balance at December 31, 2019 – As Restated	$	1,014,868

Issuance of 2020 Paulson Warrants		2,749,369

Reclassification of warrant liability to shareholders’ equity upon exercise of 12,500 warrant ADSs		(7,874)

Change in fair value of liabilities related to warrants		(556,810)

Balance at December 8, 2020		3,199,553

Reclassification to Additional-Paid-In Capital (in) Shareholders’ Equity		(3,199,553)

Balance at December 31, 2020	$	—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Shareholders' Equity

Schedule of Stockholders' Equity Note, Warrants or Rights


			Balance	Warrants	Warrants	Balance
	Exercise		December 31,	Issued	Exercised	December 31,
Description	Price		2019	in 2020	in 2020	2020
2019 Investor Warrants	$	3.00	1,184,213	—	—	1,184,213
2019 Placement Warrants	$	2.85	177,629	—	—	177,629
2020 Investor Warrants	$	2.20	—	2,810,136	(12,500)	2,797,636
2020 Placement Warrants	$	2.55	—	449,623	—	449,623
			1,361,842	3,259,759	(12,500)	4,609,101

Schedule of share option activity and related information for employees and directors

The following is a summary of the Company’s share option activity and related information for employees and directors for the years ended December 31, 2020, 2019 and 2018:


						Weighted
						average
		Weighted		Weighted		remaining
		average		average		contractual	Aggregate
	Number	exercise		grant date		term	intrinsic
	of shares	price		fair value		(in years)	value
Options outstanding as of January 1, 2018	90,061,998	$	0.15				$	266,011
Changes during the period:
Granted	41,150,000	$	0.02	$	0.01
Forfeited	(37,115,000)	$	0.07	$	0.05
Options outstanding at December 31, 2018	94,096,998	$	0.12			8.4	$	—
Changes during the period:
Granted	7,800,000	$	0.02	$	0.01
Forfeited	(7,547,963)	$	0.23	$	0.14
Options outstanding at December 31, 2019	94,349,035	$	0.10			7.6	$	—
Changes during the period:
Granted	20,800,000	$	0.02	$	0.01			6,440
Forfeited	(2,500,000)	$	0.02	$	0.02
Options outstanding at December 31, 2020	112,649,035	$	0.09			7.1	$	9,550
Exercisable options at December 31, 2020	77,667,785	$	0.12			6.4	$	1,950

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

Below are the assumptions used for the options granted during the years ended December 31, 2020, 2019 and 2018:


	December 31,
	2020		2019		2018
Expected dividend yield	0	%	0	%	0	%
Expected volatility	83.88-86.85	%	75.40	%	70.52%-82.23	%
Risk-free interest	0.38%-0.49	%	1.76	%	2.49%-3.13	%
Expected life	5.5-6.25 years		5.5 years		5.5-6.25 years

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following is a summary of the Company’s share options granted separated into ranges of exercise price:


						Weighted
	Options	Weighted		Options	Remaining	average
	outstanding	average	Weighted	exercisable	contractual	exercise
Exercise	at	remaining	average	at	life for	price for
price	December	contractual	exercise	December	exercisable	exercisable
(range) ($)	31, 2020	life (years)	price ($)	31, 2020	options (years)	options ($)
0.02-0.05	77,600,000	8.03	0.02	42,712,500	7.60	0.03
0.12-0.19	18,334,629	5.30	0.15	18,240,879	5.30	0.15
0.32	16,714,406	4.73	0.32	16,714,406	4.73	0.32
	112,649,035			77,667,785

Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Loss Per Share

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following is the calculation of the basic and diluted weighted average shares outstanding for the years ended December 31, 2020, 2019 and 2018, respectively:


	Years Ended December 31,
	2020	2019	2018
Company posted	Net loss	Net loss	Net loss
Basic weighted average shares outstanding	3,159,037,588	1,830,998,609	1,540,309,840
Dilutive effect of Ordinary Share equivalents	None	None	None
Dilutive weighted average shares outstanding	3,159,037,588	1,830,998,609	1,540,309,840

Schedule of Anti-Dilutive Share Equivalents


	Years Ended December 31,
	2020	2019	2018
Total share options	112,649,035	94,349,035	94,096,998
Total warrants-equity classified	460,910,100	136,184,200	—
Total warrants-liability classified	—	—	—
Total share options and warrants	573,559,135	230,533,235	94,096,998

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes

Schedule of components of income/(loss) before income taxes

The components of income/(loss) before income taxes are as follows:


			As Restated		As Restated
	December 31,		December 31,		December 31,
	2020		2019		2018
Domestic (UK)	$	(17,394,075)	$	(16,870,699)	$	(20,633,055)
Foreign		312,458		24,496		133,596
Loss before income tax	$	(17,081,617)	$	(16,846,203)	$	(20,499,459)

Schedule of income taxes relating to the company's operations

Income taxes relating to the Company’s operations are as follows:


		As Restated	As Restated
	December 31,	December 31,	December 31,
	2020	2019	2018
Current income taxes
Domestic (UK)	—	—	—
U.S.	—
Foreign	—	—	—

Deferred income taxes	—	—	—
Domestic (UK)	—	—	—
Foreign	—	—	—
Income tax expense/recovery	—

Schedule of income taxes at the UK statutory rate compared to the company's income tax expenses

Income taxes at the UK statutory rate compared to the Company’s income tax expenses as reported are as follows:


				As Restated			As Restated
	December 31,			December 31,			December 31,
	2020			2019			2018
Net loss before income tax	$	(17,081,617)		$	(16,846,203)		$	(20,499,459)
Statutory rate		19.00	%		19.00	%		19.00	%
Expected income tax recovery		(3,245,507)			(3,200,779)			(3,894,897)
Impact on income tax expense/recovery from
Change in valuation allowance		4,287,778			3,150,021			(1,322,117)
Permanent differences		81			161,543			—
U.S. state taxes (net of FBOS)		(655,877)			(370,870)			—
Tax rate difference in foreign jurisdictions		(136,343)			(1,960)			2,686,296
Change of tax rate due to U.S. tax reform		—			—			—
Change of tax rate from prior year		—			(63,133)			1,602,112
Deferred tax adjustments		(250,132)			325,178			928,606
Income tax expense		—			—			—

Schedule of deferred tax assets and liabilities

The Company’s deferred tax assets and liabilities consist of the following:


		As Restated
	December 31,	December 31,
	2020	2019
Deferred tax assets
Stock-based compensation	1,295,841	1,240,284
PP&E and other accrued liabilities	244,638	120,046
Intangibles	1,763,151	1,937,082
Warrant revaluation	—	192,825
Tax loss carry forward	22,913,429	18,439,041
Valuation allowance	(26,217,059)	(21,929,278)
Deferred tax assets/liabilities	—	—

Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Information

Schedule of tangible fixed assets by geographic region

The following table presents the Company’s tangible fixed assets by geographic region:


	December 31,		December 31,
	2020		2019
United States	$	—	$	1,823
United Kingdom		—		3,190
Total	$	—	$	5,013

Nature of Business (Details) - USD ($)		3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
Nature of Business (Details) - USD ($)	Jun. 30, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Nature Of Business
Retained Earnings (Accumulated Deficit)	$ 176,384,416	$ 175,470,962	$ 176,384,416	$ 168,944,601	$ 157,369,170	$ 154,487,275	$ 148,539,502	$ 176,384,416	$ 154,487,275	$ 175,470,962	$ 157,369,170	$ 182,280,811	$ 165,199,194
Cash	12,746,266	12,317,798	12,746,266	7,822,180	6,268,667	2,736,663	6,145,555	12,746,266	2,736,663	12,317,798	6,268,667	14,055,777	5,731,691
Net Cash Provided by (Used in) Operating Activities				7,739,656			(228,944)	12,013,118	4,543,565	12,717,287	9,454,014	16,950,408	12,918,313	$ 22,774,008
Net Income (Loss) Attributable to Parent		$ 913,454	$ (7,439,815)	$ (3,745,407)	$ (2,881,894)	$ (5,947,773)	$ (186,511)	(11,185,222)	$ (6,134,284)	$ (10,271,768)	$ (9,016,178)	$ (17,081,617)	$ (16,846,203)	$ (20,499,459)
Nominal value of ADS (in per warrant ADS)							$ 0.0001					$ 0.0001	$ 0.0001	$ 0.0001
2020 Purchase Agreement
Nature Of Business
Gross proceeds from issuance	$ 30,000,000
Aspire Capital Fund LLC \| 2020 Purchase Agreement
Nature Of Business
Gross proceeds from issuance								$ 30,000,000
Amount available under the share purchase commitment facility												$ 24,000,000
Long-term Purchase Commitment, Period								30 months

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Summary of Significant Accounting Policies [Line Items]
Total property and equipment	$ 164,938		$ 164,938
Less: Accumulated depreciation	(164,938)		(159,925)
Property and equipment, net	$ 0	$ 2,096	5,013	$ 8,388	$ 12,056	$ 15,834
Computers, peripheral, and scientific equipment
Summary of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Total property and equipment	$ 85,489		85,489
Office furniture and equipment
Summary of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Total property and equipment	$ 79,449		$ 79,449

Summary of Significant Accounting Policies - Comprehensive Loss (Details) - USD ($)	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary of Significant Accounting Policies
Beginning Balance	$ (617,622)	$ (571,585)	$ (348,860)	$ (405,374)	$ (245,258)	$ (352,426)	$ (348,860)	$ (352,426)	$ (348,860)	$ (352,426)	$ (348,860)	$ (352,426)	$ (236,246)
Net current period other comprehensive income loss	(3,676)	(46,037)	(222,725)	3,281	(160,116)	107,168	(268,762)	(52,948)	(272,438)	(49,667)	(299,205)	3,566	(116,180)
Ending Balance	$ (621,298)	$ (617,622)	$ (571,585)	$ (402,093)	$ (405,374)	$ (245,258)	$ (617,622)	$ (405,374)	$ (621,298)	$ (402,093)	$ (648,065)	$ (348,860)	$ (352,426)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary of Significant Accounting Policies [Line Items]
Research and Development Expense	$ 8,820,204	$ 8,739,420	$ 11,795,376
Unrecognized Tax Benefits	0	0
General and administrative expenses
Summary of Significant Accounting Policies [Line Items]
Depreciation	5,013	15,412	35,473
Research and development expenses
Summary of Significant Accounting Policies [Line Items]
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount	$ 3,372,093	7,907,213	3,794,094
Patents
Summary of Significant Accounting Policies [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	22 years
Amortization of Intangible Assets	$ 3,894	$ 3,793	$ 3,895

Restatement of Previously Issued Consolidated Financial Statements (Details) £ in Millions		1 Months Ended
	Sep. 18, 2015	Jul. 31, 2015 GBP (£)	Sep. 30, 2015 USD ($)	Jul. 31, 2015 USD ($)
Financial Liabilities Fair Value Disclosure			$ 26,004,442
Fair value of options			$ 22,598,000
Majority Shareholder
Ownership interest	61.30%
Volution Immuno Pharmaceuticals SA
Short-term Debt		£ 2		$ 3,100,000
Percentage of options equivalent to total outstanding equity		15.00%

Restatement of Previously Issued Consolidated Financial Statements - CONDENSED CONSOLIDATED BALANCE SHEETS (Details) - USD ($)	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current Assets:
Cash	$ 14,055,777	$ 12,317,798	$ 12,746,266	$ 7,822,180	$ 5,731,691	$ 6,268,667	$ 2,736,663	$ 6,145,555
Tax credit receivable						2,902,987
Prepaid expenses and other current assets	521,880	1,349,244	1,679,425	1,828,444	712,975	1,058,527	1,747,365	1,887,780
Deferred financing costs							67,783
Total Current Assets	14,577,657	13,667,042	14,425,691	9,650,624	6,444,666	10,230,181	4,551,811	8,033,335
Restricted cash							17,364	147,924
Property and equipment, net	0			2,096	5,013	8,388	12,056	15,834
Patent acquisition costs, net	27,150	26,674	26,489	27,566	30,163	29,147	31,065	32,867
Total Assets	14,604,807	13,693,716	14,452,180	9,680,286	6,479,842	10,267,716	4,612,296	8,229,960
Current Liabilities:
Accounts payable	3,380,782	2,410,530	2,191,168	966,059	1,228,772	1,315,411	1,481,536	1,763,182
Accrued expenses	1,839,706	975,893	1,941,083	2,630,857	4,228,604	3,035,056	2,671,393	1,625,228
Liability related to stock options and warrants	0	3,358,994	4,362,515	2,814,781	1,014,868	1,014,869
Total Liabilities	5,220,488	6,745,417	8,494,766	6,411,697	6,472,244	5,365,336	4,152,929	3,388,410
Commitments and Contingencies
Shareholders' (Deficiency) Equity:
Share capital	384,733	46,578,543	46,578,543	40,085,648	31,987,016	30,123,701	24,538,137	23,716,875
Additional paid-in capital	139,734,651	136,462,016	136,380,909	132,699,127	133,568,636	132,549,942	130,813,879	129,909,435
Capital redemption reserve	52,193,811				0
Accumulated other comprehensive loss	(648,065)	(621,298)	(617,622)	(571,585)	(348,860)	(402,093)	(405,374)	(245,258)	$ (352,426)	$ (236,246)
Accumulated deficit	(182,280,811)	(175,470,962)	(176,384,416)	(168,944,601)	(165,199,194)	(157,369,170)	(154,487,275)	(148,539,502)
Total Shareholders' Equity	9,384,319	6,948,299	5,957,414	3,268,589	7,598	4,902,380	459,367	4,841,550	$ 4,368,711	$ 22,235,306
Total Liabilities and Shareholders' Equity	$ 14,604,807	13,693,716	14,452,180	9,680,286	$ 6,479,842	10,267,716	4,612,296	$ 8,229,960
Common stock, par value	$ 0.0001				$ 0.0001			$ 0.0001	$ 0.0001
Common stock, shares authorized	10,000,000,000				10,000,000,000			10,000,000,000	10,000,000,000
Common stock, shares issued	3,847,331,923				2,245,865,913			1,585,693,413
Common stock, shares outstanding	3,847,331,923				2,245,865,913				312,019
As Previously Reported
Current Assets:
Cash		12,317,798	12,746,266	7,822,180	$ 5,731,691	6,268,667	2,736,663	$ 6,145,555
Tax credit receivable						2,902,987
Prepaid expenses and other current assets		1,349,244	1,679,425	1,828,444	712,975	1,058,527	1,747,365	1,887,780
Deferred financing costs				288,705	321,956	402,042	606,508	579,810
Total Current Assets		13,667,042	14,425,691	9,939,329	6,766,622	10,632,223	5,090,536	8,613,145
Restricted cash							17,364	147,924
Property and equipment, net				2,096	5,013	8,388	12,056	15,834
Patent acquisition costs, net		26,674	26,489	27,566	30,163	29,147	31,065	32,867
Total Assets		13,693,716	14,452,180	9,968,991	6,801,798	10,669,758	5,151,021	8,809,770
Current Liabilities:
Accounts payable		2,410,530	2,191,168	966,059	1,228,772	1,315,411	1,481,536	1,763,182
Accrued expenses		975,893	1,941,083	2,630,857	4,228,604	3,035,056	2,671,393	1,625,228
Liability related to stock options and warrants		5,448,995	6,981,022	4,556,448	3,116,880	3,068,834	2,370,507	4,201,196
Total Liabilities		8,835,418	11,113,273	8,153,364	8,574,256	7,419,301	6,523,436	7,589,606
Commitments and Contingencies
Shareholders' (Deficiency) Equity:
Share capital		46,578,543	46,578,543	40,085,648	31,987,016	30,123,701	24,538,137	23,716,875
Additional paid-in capital		113,070,248	112,989,141	109,596,064	110,498,824	109,560,217	107,960,836	107,097,477
Accumulated other comprehensive loss		(621,298)	(617,622)	(571,585)	(348,860)	(402,093)	(405,374)	(245,258)
Accumulated deficit		(154,169,195)	(155,611,155)	(147,294,500)	(143,909,438)	(136,031,368)	(133,466,014)	(129,348,930)
Total Shareholders' Equity	$ 4,858,298	4,858,298	3,338,907	1,815,627	(1,772,458)	3,250,457	(1,372,415)	1,220,164	$ 3,111,287
Total Liabilities and Shareholders' Equity		$ 13,693,716	$ 14,452,180	$ 9,968,991	$ 6,801,798	$ 10,669,758	$ 5,151,021	8,809,770
Common stock, par value		$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Common stock, shares authorized		10,000,000,000	10,000,000,000	10,000,000,000	10,000,000,000	10,000,000,000	10,000,000,000		10,000,000,000
Common stock, shares issued		3,386,573,113	3,386,573,113	2,872,895,513	2,245,865,913	2,100,865,913	1,650,693,413		1,650,693,413
Common stock, shares outstanding		3,386,573,113	3,386,573,113	2,872,895,513	2,245,865,913	2,100,865,913	1,650,693,413
Adjustment
Current Assets:
Deferred financing costs				$ (288,705)	$ (321,956)	$ (402,042)	$ (538,725)	(579,810)
Total Current Assets				(288,705)	(321,956)	(402,042)	(538,725)	(579,810)
Total Assets				(288,705)	(321,956)	(402,042)	(538,725)	(579,810)
Current Liabilities:
Commitments and Contingencies
Shareholders' (Deficiency) Equity:
Additional paid-in capital		793,768	793,768	505,063	471,812	391,726	255,043	213,958
Accumulated deficit		(793,768)	(793,768)	(793,768)	(793,768)	(793,768)	(793,768)	(793,768)
Total Shareholders' Equity				(288,705)	(321,956)	(402,042)	(538,725)	(579,810)	$ (585,000)
Total Liabilities and Shareholders' Equity				(288,705)	(321,956)	(402,042)	(538,725)	(579,810)
Aspire Capital Fund LLC \| Adjustment
Shareholders' (Deficiency) Equity:
Total Shareholders' Equity					(321,956)
Majority Shareholder \| Adjustment
Current Liabilities:
Liability related to stock options and warrants				(1,741,667)	(2,102,012)
Total Liabilities				(1,741,667)	(2,102,012)
Commitments and Contingencies
Shareholders' (Deficiency) Equity:
Additional paid-in capital				22,598,000	22,598,000
Accumulated deficit				(20,856,333)	(20,495,988)
Total Shareholders' Equity	$ 2,090,001			$ 1,741,667	$ 2,102,012				$ 1,842,424
Majority Shareholder \| Aspire Capital Fund LLC \| Adjustment
Current Liabilities:
Liability related to stock options and warrants		(2,090,001)	(2,618,507)			(2,053,965)	(2,370,507)	(4,201,196)
Total Liabilities		(2,090,001)	(2,618,507)			(2,053,965)	(2,370,507)	(4,201,196)
Commitments and Contingencies
Shareholders' (Deficiency) Equity:
Additional paid-in capital		22,598,000	22,598,000			22,598,000	22,598,000	22,598,000
Accumulated deficit		(20,507,999)	(19,979,493)			(20,544,034)	(20,227,493)	(18,396,804)
Total Shareholders' Equity		$ 2,090,001	$ 2,618,507			$ 2,053,965	$ 2,370,507	$ 4,201,196

Restatement of Previously Issued Consolidated Financial Statements - CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Details) - USD ($)	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Expenses:
Research and development income expenses	$ (1,592,531)	$ 3,020,432	$ 2,732,165	$ 1,763,057	$ 3,593,341	$ (2,318,360)	$ 5,752,597	$ 1,274,981	$ 4,160,066	$ 3,038,038		$ 8,739,420	$ 11,795,376
General and administrative expenses	1,839,414	2,891,177	2,194,809	1,354,263	2,438,106	2,306,398	5,085,986	4,744,504	6,925,400	6,098,767	$ 9,160,770	8,223,700	11,689,926
Litigation settlement gain											0	0	(2,700,000)
Total Operating Expenses	246,883	5,911,609	4,926,974	3,117,320	6,031,447	(11,962)	10,838,583	6,019,485	11,085,466	9,136,805	17,980,974	16,963,120	20,785,302
Gain (Loss) from Operations	(246,883)	(5,911,609)	(4,926,974)	(3,117,320)	(6,031,447)	11,962	(10,838,583)	(6,019,485)	(11,085,466)	(9,136,805)	(17,980,974)	(16,963,120)	(20,785,302)
Other Income (Expenses):
Interest income	6,132	1,152	1,010	2,057	449	1,286	2,162	1,735	8,294	3,792	13,615	5,531	222,256
Changes in fair value of option liabilities - (loss) gain	1,003,521	(1,555,609)	949,456	198,948		0	(606,153)		397,368	198,948	556,810	198,948	0
Foreign currency exchange gains (losses)	156,360	27,992	233,404	37,209	86,438	(195,635)	261,396	(109,198)	417,756	(71,989)	350,939	(67,256)	81,501
Other expenses	(5,676)	(1,741)	(2,303)	(2,788)	(3,213)	(4,124)	(4,044)	(7,336)	(9,720)	(10,124)	(22,007)	(20,306)	(17,914)
Total Other Income (Expenses)	1,160,337	(1,528,206)	1,181,567	235,426	83,674	(198,473)	(346,639)	(114,799)	813,698	120,627	899,357	116,917	285,843
Net Loss	913,454	(7,439,815)	(3,745,407)	(2,881,894)	(5,947,773)	(186,511)	(11,185,222)	(6,134,284)	(10,271,768)	(9,016,178)	(17,081,617)	(16,846,203)	(20,499,459)
Other Comprehensive Income:
Foreign Currency Translation Adjustment	(3,676)	(46,037)	(222,725)	3,281	(160,116)	107,168	(268,762)	(52,948)	(272,438)	(49,667)	(299,205)	3,566	(116,180)
Comprehensive Loss	$ 909,778	$ (7,485,852)	$ (3,968,132)	$ (2,878,613)	$ (6,107,889)	$ (79,343)	$ (11,453,984)	$ (6,187,232)	$ (10,544,206)	$ (9,065,845)	$ (17,380,822)	$ (16,842,637)	$ (20,615,639)
Loss per ordinary share (basic and diluted)	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.01)
Weighted average ordinary shares (basic and diluted)	3,386,573,113	3,002,482,637	2,516,280,709	1,971,025,222	1,607,121,984	1,580,860,080	2,759,381,673	1,594,063,579	3,336,002,895	1,721,098,272	3,159,037,588	1,830,998,609	1,540,309,840
As Previously Reported
Operating Expenses:
Research and development income expenses	$ (1,592,531)	$ 3,020,432	$ 2,732,165	$ 1,763,057	$ 3,593,341	$ (2,318,360)	$ 5,752,597	$ 1,274,981	$ 4,160,066	$ 3,038,038		$ 8,739,420	$ 11,795,376
General and administrative expenses	1,839,414	2,891,177	2,194,809	1,354,263	2,438,106	2,306,398	5,085,986	4,744,504	6,925,400	6,098,767		8,223,700	10,896,158
Litigation settlement gain													(2,700,000)
Total Operating Expenses	246,883	5,911,609	4,926,974	3,117,320	6,031,447	(11,962)	10,838,583	6,019,485	11,085,466	9,136,805		16,963,120	19,991,534
Gain (Loss) from Operations	(246,883)	(5,911,609)	(4,926,974)	(3,117,320)	(6,031,447)	11,962	(10,838,583)	(6,019,485)	(11,085,466)	(9,136,805)		(16,963,120)	(19,991,534)
Other Income (Expenses):
Interest income	6,132	1,152	1,010	2,057	449	1,286	2,162	1,735	8,294	3,792		5,531	222,256
Changes in fair value of option liabilities - (loss) gain	1,532,027	(2,432,449)	1,309,801	515,489	1,830,689	(2,358,772)	(1,122,648)	(528,083)	409,379	(12,594)		(60,640)	3,238,911
Foreign currency exchange gains (losses)	156,360	27,992	233,404	37,209	86,438	(195,635)	261,396	(109,198)	417,756	(71,989)		(67,256)	81,501
Other expenses	(5,676)	(1,741)	(2,303)	(2,788)	(3,213)	(4,124)	(4,044)	(7,336)	(9,720)	(10,124)		(20,306)	(17,914)
Total Other Income (Expenses)	1,688,843	(2,405,046)	1,541,912	551,967	1,914,363	(2,557,245)	(863,134)	(642,882)	825,709	(90,915)		(142,671)	3,524,754
Net Loss	1,441,960	(8,316,655)	(3,385,062)	(2,565,353)	(4,117,084)	(2,545,283)	(11,701,717)	(6,662,367)	(10,259,757)	(9,227,720)		(17,105,791)	(16,466,780)
Other Comprehensive Income:
Foreign Currency Translation Adjustment	(3,676)	(46,037)	(222,725)	3,281	(160,116)	107,168	(268,762)	(52,948)	(272,438)	(49,667)		3,566	(116,180)
Comprehensive Loss	$ 1,438,284	$ (8,362,692)	$ (3,607,787)	$ (2,562,072)	$ (4,277,200)	$ (2,438,115)	$ (11,970,479)	$ (6,715,315)	$ (10,532,195)	$ (9,277,387)		$ (17,102,225)	$ (16,582,960)
Loss per ordinary share (basic and diluted)	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ (0.01)		$ (0.01)	$ (0.01)
Weighted average ordinary shares (basic and diluted)	3,386,573,113	3,002,482,637	2,516,280,709	1,971,025,222	1,607,121,984	1,580,860,080	2,759,381,673	1,594,063,579	3,336,002,895	1,721,098,272		1,830,998,609	1,540,309,840
Adjustment
Other Income (Expenses):
Changes in fair value of option liabilities - (loss) gain												$ 259,588
Net Loss												259,588	$ (793,768)
Aspire Capital Fund LLC \| Adjustment
Operating Expenses:
General and administrative expenses													793,768
Total Operating Expenses													793,768
Gain (Loss) from Operations													(793,768)
Other Income (Expenses):
Net Loss													(793,768)
Other Comprehensive Income:
Comprehensive Loss													(793,768)
Majority Shareholder \| Adjustment
Other Income (Expenses):
Changes in fair value of option liabilities - (loss) gain	$ (528,506)	$ 876,840	$ (360,345)	$ (316,541)	$ (1,830,689)	$ 2,358,772	$ 516,495	$ 528,083	$ (12,011)	$ 211,542		259,588	(3,238,911)
Total Other Income (Expenses)	(528,506)	876,840	(360,345)	(316,541)	(1,830,689)	2,358,772	516,495	528,083	(12,011)	211,542		259,588	(3,238,911)
Net Loss	(528,506)	876,840	(360,345)	(316,541)	(1,830,689)	2,358,772	516,495	528,083	(12,011)	211,542		259,588	(3,238,911)
Other Comprehensive Income:
Comprehensive Loss	$ (528,506)	$ 876,840	$ (360,345)	$ (316,541)	$ (1,830,689)	$ 2,358,772	$ 516,495	$ 528,083	$ (12,011)	$ 211,542		$ 259,588	$ (3,238,911)

Restatement of Previously Issued Consolidated Financial Statements - CONSOLIDATED STATEMENT OF CHANGES TO SHAREHOLDERS' EQUITY (DEFICIT) (Details) - USD ($)	3 Months Ended											6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shareholders' Equity	$ 5,957,414	$ 3,268,589	$ 7,598	$ 4,902,380	$ 459,367	$ 4,841,550	$ 4,368,711				$ 22,235,306	$ 7,598	$ 4,368,711	$ 7,598	$ 4,368,711	$ 7,598	$ 4,368,711	$ 22,235,306
Stock-based compensation																325,523	1,047,387	1,649,044
Issuance of ordinary shares																22,304,967	11,434,137	1,100,000
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital																900,000
Exercise of warrants																27,500
Issuance of share capital upon conversion of deferred shares																0
Subdivision of ordinary shares																0
Reclassification of warrants to shareholders' equity																3,199,553
Issuance of share capital to directors																		0
Comprehensive income (loss)	909,778	(7,485,852)	(3,968,132)		(2,878,613)	(6,107,889)	(79,343)					(11,453,984)	(6,187,232)	(10,544,206)	(9,065,845)	(17,380,822)	(16,842,637)	(20,615,639)
Shareholders' Equity	6,948,299	5,957,414	3,268,589	7,598	4,902,380	459,367	4,841,550	$ 4,368,711				5,957,414	459,367	6,948,299	4,902,380	9,384,319	7,598	4,368,711
Common Stock
Shareholders' Equity	$ 46,578,543	$ 40,085,648	$ 31,987,016	$ 30,123,701	$ 24,538,137	$ 23,716,875	$ 23,651,277	$ 23,651,277	$ 22,927,534	$ 22,927,534	$ 22,927,534	$ 31,987,016	$ 23,651,277	$ 31,987,016	$ 23,651,277	$ 31,987,016	$ 23,651,277	$ 22,927,534
Shareholders' Equity (in shares)	3,386,573,113	2,872,895,513	2,245,865,913	2,100,865,913	1,650,693,413	1,585,693,413	1,580,693,413	1,580,693,413	1,525,693,393	1,525,693,393	1,525,693,393	2,245,865,913	1,580,693,413	2,245,865,913	1,580,693,413	2,245,865,913	1,580,693,413	1,525,693,393
Stock-based compensation																$ 0	$ 0	$ 0
Issuance of ordinary shares		$ 5,953,175	$ 8,098,632	$ 1,863,315	$ 5,585,564	$ 821,262	$ 65,598		$ 723,743							$ 20,051,809	$ 8,335,739	$ 723,743
Issuance of ordinary shares (in shares)		471,666,700	627,029,600	145,000,000	450,172,500	65,000,000	5,000,000		55,000,000							1,559,455,100	665,172,500	55,000,000
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital		$ 523,778														$ 523,778
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital (in shares)		40,760,900														40,760,900
Exercise of warrants		$ 15,941														$ 15,941
Exercise of warrants (in shares)		1,250,000														1,250,000
Issuance of share capital upon conversion of deferred shares																$ 0
Issuance of share capital upon conversion of deferred shares (in shares)																10
Subdivision of ordinary shares																$ (52,193,811)
Reclassification of warrants to shareholders' equity																0
Issuance of share capital to directors																		$ 0
Issuance of share capital to directors (in shares)									20									20
Comprehensive income (loss)																0	$ 0	$ 0
Shareholders' Equity	$ 46,578,543	$ 46,578,543	$ 40,085,648	$ 31,987,016	$ 30,123,701	$ 24,538,137	$ 23,716,875	$ 23,651,277	$ 23,651,277	$ 22,927,534	$ 22,927,534	$ 46,578,543	$ 24,538,137	$ 46,578,543	$ 30,123,701	$ 384,733	$ 31,987,016	$ 23,651,277
Shareholders' Equity (in shares)	3,386,573,113	3,386,573,113	2,872,895,513	2,245,865,913	2,100,865,913	1,650,693,413	1,585,693,413	1,580,693,413	1,580,693,413	1,525,693,393	1,525,693,393	3,386,573,113	1,650,693,413	3,386,573,113	2,100,865,913	3,847,331,923	2,245,865,913	1,580,693,413
Additional Paid-in Capital
Shareholders' Equity	$ 136,380,909	$ 132,699,127	$ 133,568,636	$ 132,549,942	$ 130,813,879	$ 129,909,435	$ 129,422,851	$ 128,901,542	$ 128,225,489	$ 127,873,508	$ 127,397,550	$ 133,568,636	$ 129,422,851	$ 133,568,636	$ 129,422,851	$ 133,568,636	$ 129,422,851	$ 127,397,550
Stock-based compensation	81,107	63,330	100,504	105,941	137,385	409,622	394,439	417,336	403,769	351,981	475,958					325,523	1,047,387	1,649,044
Issuance of ordinary shares		3,230,671	(970,013)	912,753	1,598,678	494,822	92,145	103,973	272,284							2,253,158	3,098,398	376,257
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital		376,222														376,222
Exercise of warrants		11,559														11,559
Reclassification of warrants to shareholders' equity																3,199,553
Issuance of share capital to directors																		0
Comprehensive income (loss)																		0
Shareholders' Equity	136,462,016	136,380,909	132,699,127	133,568,636	132,549,942	130,813,879	129,909,435	129,422,851	128,901,542	128,225,489	127,873,508	136,380,909	130,813,879	136,462,016	132,549,942	139,734,651	133,568,636	129,422,851
Capital Redemption Reserve
Shareholders' Equity							0						0		0		0
Stock-based compensation																	0	0
Issuance of ordinary shares																	0
Subdivision of ordinary shares																52,193,811
Issuance of share capital to directors																		0
Comprehensive income (loss)																		0
Shareholders' Equity								0								52,193,811		0
Accumulated Other Comprehensive Loss
Shareholders' Equity	(617,622)	(571,585)	(348,860)	(402,093)	(405,374)	(245,258)	(352,426)	(296,483)	(230,635)	(203,447)	(236,246)	(348,860)	(352,426)	(348,860)	(352,426)	(348,860)	(352,426)	(236,246)
Stock-based compensation																0	0	0
Issuance of ordinary shares																0	0	0
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital																0
Exercise of warrants																0
Issuance of share capital upon conversion of deferred shares																0
Subdivision of ordinary shares																0
Reclassification of warrants to shareholders' equity																0
Issuance of share capital to directors																		0
Comprehensive income (loss)	(3,676)	(46,037)	(222,725)	53,233	3,281	(160,116)	107,168	(55,943)	(65,848)	(27,188)	32,799					(299,205)	3,566	(116,180)
Shareholders' Equity	(621,298)	(617,622)	(571,585)	(348,860)	(402,093)	(405,374)	(245,258)	(352,426)	(296,483)	(230,635)	(203,447)	(617,622)	(405,374)	(621,298)	(402,093)	(648,065)	(348,860)	(352,426)
Accumulated Deficit
Shareholders' Equity	(176,384,416)	(168,944,601)	(165,199,194)	(157,369,170)	(154,487,275)	(148,539,502)	(148,352,991)	(143,535,141)	(140,007,277)	(132,137,638)	(127,853,532)	(165,199,194)	(148,352,991)	(165,199,194)	(148,352,991)	(165,199,194)	(148,352,991)	(127,853,532)
Stock-based compensation																0	0	0
Issuance of ordinary shares																0	0	0
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital																0
Exercise of warrants																0
Issuance of share capital upon conversion of deferred shares																0
Subdivision of ordinary shares																0
Reclassification of warrants to shareholders' equity																0
Issuance of share capital to directors																		0
Comprehensive income (loss)	913,454	(7,439,815)	(3,745,407)	(7,830,024)	(2,881,895)	(5,947,773)	(186,511)	(4,818,850)	(3,526,864)	(7,869,639)	(4,284,106)					(17,081,617)	(16,846,203)	(20,499,459)
Shareholders' Equity	(175,470,962)	(176,384,416)	(168,944,601)	(165,199,194)	(157,369,170)	(154,487,275)	(148,539,502)	(148,352,991)	(143,535,141)	(140,007,277)	(132,137,638)	(176,384,416)	(154,487,275)	(175,470,962)	(157,369,170)	(182,280,811)	(165,199,194)	(148,352,991)
As Previously Reported
Shareholders' Equity	3,338,907	1,815,627	(1,772,458)	3,250,457	(1,372,415)	1,220,164	3,111,287					(1,772,458)	3,111,287	(1,772,458)	3,111,287	(1,772,458)	3,111,287
Comprehensive income (loss)	1,438,284	(8,362,692)	(3,607,787)		(2,562,072)	(4,277,200)	(2,438,115)					(11,970,479)	(6,715,315)	(10,532,195)	(9,277,387)		(17,102,225)	(16,582,960)
Shareholders' Equity	4,858,298	3,338,907	1,815,627	(1,772,458)	3,250,457	(1,372,415)	1,220,164	3,111,287				3,338,907	(1,372,415)	4,858,298	3,250,457	4,858,298	(1,772,458)	3,111,287
As Previously Reported \| Common Stock
Shareholders' Equity	$ 46,578,543	$ 40,085,648	$ 31,987,016	$ 30,123,701	$ 24,538,137	$ 23,716,875	$ 23,651,277	$ 23,651,277	$ 22,927,534	$ 22,927,534	$ 22,927,534	$ 31,987,016	$ 23,651,277	$ 31,987,016	$ 23,651,277	$ 31,987,016	$ 23,651,277	$ 22,927,534
Shareholders' Equity (in shares)	3,386,573,113	2,872,895,513	2,245,865,913	2,100,865,913	1,650,693,413	1,585,693,413	1,580,693,413	1,580,693,413	1,525,693,393	1,525,693,393	1,525,693,393	2,245,865,913	1,580,693,413	2,245,865,913	1,580,693,413	2,245,865,913	1,580,693,413	1,525,693,393
Issuance of ordinary shares		$ 5,953,175	$ 8,098,632	$ 1,863,315	$ 5,585,564	$ 821,262	$ 65,598		$ 723,743
Issuance of ordinary shares (in shares)		471,666,700	627,029,600	145,000,000	450,172,500	65,000,000	5,000,000		55,000,000
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital		$ 523,778
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital (in shares)		40,760,900
Exercise of warrants		$ 15,941
Exercise of warrants (in shares)		1,250,000
Issuance of share capital to directors (in shares)									20
Shareholders' Equity	$ 46,578,543	$ 46,578,543	$ 40,085,648	$ 31,987,016	$ 30,123,701	$ 24,538,137	$ 23,716,875	$ 23,651,277	$ 23,651,277	$ 22,927,534	$ 22,927,534	$ 46,578,543	$ 24,538,137	$ 46,578,543	$ 30,123,701		$ 31,987,016	$ 23,651,277
Shareholders' Equity (in shares)	3,386,573,113	3,386,573,113	2,872,895,513	2,245,865,913	2,100,865,913	1,650,693,413	1,585,693,413	1,580,693,413	1,580,693,413	1,525,693,393	1,525,693,393	3,386,573,113	1,650,693,413	3,386,573,113	2,100,865,913		2,245,865,913	1,580,693,413
As Previously Reported \| Additional Paid-in Capital
Shareholders' Equity	$ 112,989,141	$ 109,596,064	$ 110,498,824	$ 109,560,217	$ 107,960,836	$ 107,097,477	$ 106,616,083	$ 106,239,087	$ 105,627,489	$ 105,275,508	$ 104,799,550	$ 110,498,824	$ 106,616,083	$ 110,498,824	$ 106,616,083	$ 110,498,824	$ 106,616,083	$ 104,799,550
Stock-based compensation	81,107	63,330	100,504	105,941	137,385	409,622	394,439	417,336	403,769	351,981	475,958
Issuance of ordinary shares		2,941,966	(1,003,264)	832,666	1,461,996	453,737	86,955	(40,340)	207,829
Issuance of share capital for entering into 2020 Purchase Agreement with Aspire Capital		376,222
Exercise of warrants		11,559
Shareholders' Equity	113,070,248	112,989,141	109,596,064	110,498,824	109,560,217	107,960,836	107,097,477	106,616,083	106,239,087	105,627,489	105,275,508	112,989,141	107,960,836	113,070,248	109,560,217		110,498,824	106,616,083
As Previously Reported \| Accumulated Other Comprehensive Loss
Shareholders' Equity	(617,622)	(571,585)	(348,860)	(402,093)	(405,374)	(245,258)	(352,426)	(296,483)	(230,635)	(203,447)	(236,246)	(348,860)	(352,426)	(348,860)	(352,426)	(348,860)	(352,426)	(236,246)
Comprehensive income (loss)	(3,676)	(46,037)	(222,725)	53,233	3,281	(160,116)	107,168	(55,943)	(65,848)	(27,188)	32,799
Shareholders' Equity	(621,298)	(617,622)	(571,585)	(348,860)	(402,093)	(405,374)	(245,258)	(352,426)	(296,483)	(230,635)	(203,447)	(617,622)	(405,374)	(621,298)	(402,093)		(348,860)	(352,426)
As Previously Reported \| Accumulated Deficit
Shareholders' Equity	(155,611,155)	(147,294,500)	(143,909,438)	(136,031,368)	(133,466,014)	(129,348,930)	(126,803,647)	(123,290,893)	(119,697,638)	(111,675,442)	(110,336,867)	(143,909,438)	(126,803,647)	(143,909,438)	(126,803,647)	(143,909,438)	(126,803,647)	(110,336,867)
Comprehensive income (loss)	1,441,960	(8,316,655)	(3,385,062)	(7,878,070)	(2,565,354)	(4,117,084)	(2,545,283)	(3,512,754)	(3,593,255)	(8,022,196)	(1,338,575)
Shareholders' Equity	(154,169,195)	(155,611,155)	(147,294,500)	(143,909,438)	(136,031,368)	(133,466,014)	(129,348,930)	(126,803,647)	(123,290,893)	(119,697,638)	(111,675,442)	(155,611,155)	(133,466,014)	(154,169,195)	(136,031,368)		(143,909,438)	(126,803,647)
Adjustment
Shareholders' Equity		(288,705)	(321,956)	(402,042)	(538,725)	(579,810)	(585,000)					(321,956)	(585,000)	(321,956)	(585,000)	(321,956)	(585,000)
Shareholders' Equity			(288,705)	(321,956)	(402,042)	(538,725)	(579,810)	(585,000)					(538,725)		(402,042)		(321,956)	(585,000)
Adjustment \| Additional Paid-in Capital
Shareholders' Equity	793,768	505,063	471,812				208,768	64,455				471,812	208,768	471,812	208,768	471,812	208,768
Issuance of ordinary shares		288,705	33,251					144,313	64,455
Shareholders' Equity	793,768	793,768	505,063	471,812				208,768	64,455			793,768		793,768			471,812	208,768
Adjustment \| Accumulated Deficit
Shareholders' Equity	(793,768)	(793,768)	(793,768)				(793,768)	(649,455)				(793,768)	(793,768)	(793,768)	(793,768)	(793,768)	(793,768)
Comprehensive income (loss)								(144,313)	(649,455)
Shareholders' Equity	(793,768)	(793,768)	(793,768)	(793,768)				(793,768)	(649,455)			(793,768)		(793,768)			(793,768)	(793,768)
Adjustment \| Majority Shareholder
Shareholders' Equity		1,741,667	2,102,012				1,842,424					2,102,012	1,842,424	2,102,012	1,842,424	2,102,012	1,842,424
Comprehensive income (loss)	(528,506)	876,840	(360,345)		(316,541)	(1,830,689)	2,358,772					516,495	528,083	(12,011)	211,542		259,588	(3,238,911)
Shareholders' Equity			1,741,667	2,102,012				1,842,424								2,090,001	2,102,012	1,842,424
Adjustment \| Majority Shareholder \| Additional Paid-in Capital
Shareholders' Equity	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000
Shareholders' Equity	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000	22,598,000		22,598,000	22,598,000
Adjustment \| Majority Shareholder \| Accumulated Deficit
Shareholders' Equity	(19,979,493)	(20,856,333)	(20,495,988)	(20,544,034)	(20,227,493)	(18,396,804)	(20,755,576)	(19,593,793)	(20,309,639)	(20,462,196)	(17,516,665)	(20,495,988)	(20,755,576)	(20,495,988)	(20,755,576)	(20,495,988)	(20,755,576)	(17,516,665)
Comprehensive income (loss)	(528,506)	876,840	(360,345)	48,046	(316,541)	(1,830,689)	2,358,772	(1,161,783)	715,846	152,557	(2,945,531)
Shareholders' Equity	(20,507,999)	(19,979,493)	(20,856,333)	(20,495,988)	(20,544,034)	(20,227,493)	(18,396,804)	(20,755,576)	$ (19,593,793)	$ (20,309,639)	$ (20,462,196)	(19,979,493)	(20,227,493)	(20,507,999)	(20,544,034)		(20,495,988)	(20,755,576)
Adjustment \| Aspire Capital Fund LLC
Shareholders' Equity			(321,956)									(321,956)		(321,956)		(321,956)
Comprehensive income (loss)																		(793,768)
Shareholders' Equity				(321,956)													(321,956)
Adjustment \| Aspire Capital Fund LLC \| Additional Paid-in Capital
Shareholders' Equity			471,812	391,725	255,043	213,958	208,768					471,812	208,768	471,812	208,768	471,812	208,768
Issuance of ordinary shares				80,087	136,682	41,085	5,190
Shareholders' Equity				471,812	391,725	255,043	213,958	208,768					255,043		391,725		471,812	208,768
Adjustment \| Aspire Capital Fund LLC \| Accumulated Deficit
Shareholders' Equity			$ (793,768)	(793,768)	(793,768)	(793,768)	(793,768)					(793,768)	(793,768)	(793,768)	(793,768)	$ (793,768)	(793,768)
Shareholders' Equity				(793,768)	(793,768)	(793,768)	(793,768)	$ (793,768)					(793,768)		(793,768)		$ (793,768)	$ (793,768)
Adjustment \| Aspire Capital Fund LLC \| Majority Shareholder
Shareholders' Equity	2,618,507			$ 2,053,965	2,370,507	4,201,196
Shareholders' Equity	$ 2,090,001	$ 2,618,507			$ 2,053,965	$ 2,370,507	$ 4,201,196					$ 2,618,507	$ 2,370,507	$ 2,090,001	$ 2,053,965

Restatement of Previously Issued Consolidated Financial Statements - CONSOLIDATED STATEMENTS OF CASH FLOWS (Details) - USD ($)	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities:
Net loss	$ 913,454	$ (7,439,815)	$ (3,745,407)	$ (2,881,894)	$ (5,947,773)	$ (186,511)	$ (11,185,222)	$ (6,134,284)	$ (10,271,768)	$ (9,016,178)	$ (17,081,617)	$ (16,846,203)	$ (20,499,459)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			3,877			5,566	6,921	10,266	7,907	14,892	8,907	19,205	35,848
Stock-based compensation			100,504			394,439	163,834	804,061	244,941	941,446	325,523	1,047,387	1,649,044
Financing expense							900,000		900,000		900,000	0	600,000
Changes in fair value of the liability for options and warrants	(1,003,521)	1,555,609	(949,456)	(198,948)		0	606,153		(397,368)	(198,948)	(556,810)	(198,948)	0
Foreign currency exchange (gains) loss			(171,806)			166,593	(210,896)	91,905	(488,532)	67,922	(490,782)	(30,366)	(104,719)
Increase in assets:
Tax credit receivable										(2,902,987)
Prepaid expenses and other current assets			(1,115,329)			(464,696)	(966,222)	(324,111)	(635,758)	364,594	192,054	710,335	(716,859)
(Decrease)/ increase in liabilities:
Accounts payable and accrued expenses			(1,862,039)			313,553	(1,327,686)	1,008,598	(2,076,709)	1,275,245	(247,683)	2,380,277	(3,689,860)
Other liabilities											0	0	(48,003)
Total adjustments			(3,994,249)			415,455	(827,896)	1,590,719	(2,445,519)	(437,836)	131,209	3,927,890	(2,274,549)
Net Cash Used in Operating Activities			(7,739,656)			228,944	(12,013,118)	(4,543,565)	(12,717,287)	(9,454,014)	(16,950,408)	(12,918,313)	(22,774,008)
Cash Flows from Financing Activities:
Net proceeds from issuance of shares			7,095,368			157,743	19,053,960	1,473,828	19,053,960	9,871,886	25,046,461	12,647,953	500,000
Proceeds from issuance of warrants			2,782,620				27,500		27,500
Net proceeds from exercise of warrants to purchase shares											27,500	0	0
Net Cash Provided by Financing Activities			9,877,988			157,743	19,081,460	1,473,828	19,081,460	9,871,886	25,073,961	12,647,953	500,000
Effect of Exchange Rates on Cash			(47,843)			(61,175)	(53,767)	(144,203)	221,934	(117,172)	200,533	34,084	(6,931)
Net Increase (Decrease) in Cash			2,090,489			325,512	7,014,575	(3,213,940)	6,586,107	300,700	8,324,086	(236,276)	(22,280,939)
Cash, beginning of period	12,746,266	7,822,180	5,731,691	2,754,027	6,293,479	5,967,967	5,731,691	5,967,967	5,731,691	5,967,967	5,731,691	5,967,967	28,248,906
Cash, end of period	12,317,798	12,746,266	7,822,180	6,268,667	2,754,027	6,293,479	12,746,266	2,754,027	12,317,798	6,268,667	14,055,777	5,731,691	5,967,967
As Previously Reported
Cash Flows from Operating Activities:
Net loss	1,441,960	(8,316,655)	(3,385,062)	(2,565,353)	(4,117,084)	(2,545,283)	(11,701,717)	(6,662,367)	(10,259,757)	(9,227,720)		(17,105,791)	(16,466,780)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			3,877			5,566	6,921	10,266	7,907	14,892		19,205	35,848
Stock-based compensation			100,504			394,439	163,834	804,061	244,941	941,446		1,047,387	1,649,044
Financing expense							900,000		900,000
Changes in fair value of the liability for options and warrants	(1,532,027)	2,432,449	(1,309,801)	(515,489)	(1,830,689)	2,358,772	1,122,648	528,083	(409,379)	12,594		60,640	(3,238,911)
Foreign currency exchange (gains) loss			(171,806)			166,593	(210,896)	91,905	(488,532)	67,922		(30,366)	(104,719)
Increase in assets:
Tax credit receivable										(2,902,987)
Prepaid expenses and other current assets			(1,115,329)			(464,696)	(966,222)	(324,111)	(635,758)	364,594		710,335	(716,859)
(Decrease)/ increase in liabilities:
Accounts payable and accrued expenses			(1,862,039)			313,553	(1,327,686)	1,008,598	(2,076,709)	1,275,245		2,380,277	(3,689,860)
Other liabilities													(48,003)
Total adjustments			(4,354,594)			2,774,227	(311,401)	2,118,802	(2,457,530)	(226,294)		4,187,478	(6,113,460)
Net Cash Used in Operating Activities			(7,739,656)			228,944	(12,013,118)	(4,543,565)	(12,717,287)	(9,454,014)		(12,918,313)	(22,580,240)
Cash Flows from Financing Activities:
Net proceeds from issuance of shares			7,095,368			157,743	19,053,960	1,473,828	19,053,960	9,871,886		12,647,953	306,232
Proceeds from issuance of warrants			2,782,620				27,500		27,500
Net Cash Provided by Financing Activities			9,877,988			157,743	19,081,460	1,473,828	19,081,460	9,871,886		12,647,953	306,232
Effect of Exchange Rates on Cash			(47,843)			(61,175)	(53,767)	(144,203)	221,934	(117,172)		34,084	(6,931)
Net Increase (Decrease) in Cash			2,090,489			325,512	7,014,575	(3,213,940)	6,586,107	300,700		(236,276)	(22,280,939)
Cash, beginning of period	12,746,266	7,822,180	5,731,691	2,754,027	6,293,479	5,967,967	5,731,691	5,967,967	5,731,691	5,967,967	5,731,691	5,967,967	28,248,906
Cash, end of period	12,317,798	12,746,266	7,822,180	6,268,667	2,754,027	6,293,479	12,746,266	2,754,027	12,317,798	6,268,667		5,731,691	5,967,967
Adjustment
Cash Flows from Operating Activities:
Net loss												259,588	(793,768)
Adjustments to reconcile net loss to net cash used in operating activities:
Financing expense													600,000
Changes in fair value of the liability for options and warrants												(259,588)
(Decrease)/ increase in liabilities:
Total adjustments												(259,588)	600,000
Net Cash Used in Operating Activities													(193,768)
Cash Flows from Financing Activities:
Net proceeds from issuance of shares													193,768
Net Cash Provided by Financing Activities													193,768
Aspire Capital Fund LLC \| Adjustment
Cash Flows from Operating Activities:
Net loss													(793,768)
Majority Shareholder \| Adjustment
Cash Flows from Operating Activities:
Net loss	(528,506)	876,840	(360,345)	(316,541)	(1,830,689)	2,358,772	516,495	528,083	(12,011)	211,542		259,588	(3,238,911)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization						0	0		0	0
Stock-based compensation						0	0		0	0
Financing expense							0		0
Changes in fair value of the liability for options and warrants	528,506	(876,840)	360,345	316,541	1,830,689	(2,358,772)	(516,495)	(528,083)	12,011	(211,542)		(259,588)	3,238,911
Foreign currency exchange (gains) loss						0	0		0	0
Increase in assets:
Tax credit receivable										0
Prepaid expenses and other current assets						0	0		0	0
(Decrease)/ increase in liabilities:
Accounts payable and accrued expenses						0	0		0	0
Total adjustments			360,345			(2,358,772)	(516,495)	(528,083)	12,011	(211,542)			3,238,911
Net Cash Used in Operating Activities						0	0		0	0
Cash Flows from Financing Activities:
Net proceeds from issuance of shares						0	0		0	0
Proceeds from issuance of warrants							0		0
Net Cash Provided by Financing Activities						0	0		0	0
Effect of Exchange Rates on Cash						0	0		0	0
Net Increase (Decrease) in Cash						0	0		0	0
Cash, beginning of period	0		$ 0		$ 0	0	0	$ 0	0	0	$ 0	0
Cash, end of period	$ 0	$ 0		$ 0		$ 0	$ 0		$ 0	$ 0		$ 0	$ 0

Fair Value Measurements - Assumptions used for the fair value calculations of the warrants (Details)	Dec. 08, 2020	Mar. 03, 2020	Feb. 21, 2020	Dec. 31, 2019
2019 Warrants \| Standard deviation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	95.00			110.00
2019 Warrants \| Annual risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	0.25			1.66
2019 Warrants \| Required return on equity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	19.30			19.90
2019 Warrants \| Expected life in years
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	3.55			4.50
2019 Warrants \| Annual turnover rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	0.00			0.00
2019 Warrants \| Period risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	0.08			0.08
2020 Warrants \| Standard deviation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	95.00	110.00	110.00
2020 Warrants \| Annual risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input		0.77	1.3
2020 Warrants \| Annual risk-free interest rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	0.31
2020 Warrants \| Annual risk-free interest rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	0.32
2020 Warrants \| Required return on equity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	19.30	19.90	19.90
2020 Warrants \| Expected life in years
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input		5.0	5.0
2020 Warrants \| Expected life in years \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	4.21
2020 Warrants \| Expected life in years \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	4.24
2020 Warrants \| Annual turnover rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	0.00	0.00	0.00
2020 Warrants \| Period risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	0.08	0.08	0.08

Fair Value Measurements - Financial liabilities measured at fair value on a recurring basis (Details) - USD ($)	Dec. 31, 2020	Dec. 08, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 0
Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants		$ 3,199,553	$ 1,014,868
Recurring \| Paulson Warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants		$ 3,199,553	$ 1,014,868

Fair Value Measurements - Level 3 Reconciliation (Details) - Fair Value, Inputs, Level 3 - USD ($)	1 Months Ended	11 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 08, 2020	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance	$ 3,199,553	$ 1,014,868	$ 1,014,868
Issuance of Paulson Warrants		2,749,369		$ 1,213,816
Reclassification of warrant liability to shareholders' equity	(3,199,553)	(7,874)
Changes in values of liabilities related to options and warrants		(556,810)		(198,948)
Balance	$ 0	$ 3,199,553	$ 0	$ 1,014,868

Fair Value Measurements - Additional Information (Details) - USD ($)				3 Months Ended					6 Months Ended	9 Months Ended		11 Months Ended	12 Months Ended
	Mar. 03, 2020	Feb. 28, 2020	Jul. 03, 2019	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 08, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 21, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of warrant liabilities - gain				$ 1,003,521	$ (1,555,609)	$ 949,456	$ 198,948	$ 0	$ (606,153)	$ 397,368	$ 198,948		$ 556,810	$ 198,948	$ 0
Nominal value of ADS (in per warrant ADS)								$ 0.0001					$ 0.0001	$ 0.0001	$ 0.0001
Warrants issued													3,259,759
Warrants outstanding (in shares)													4,609,101	1,361,842
Fair value of warrants												$ 3,199,553
2019 Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of warrant liabilities - gain												(132,632)
Total grant date fair value of warrants													$ 1,213,816
Fair value of warrants												882,237		$ 14,868
2020 Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of warrant liabilities - gain												$ (432,053)
Warrants issued to purchase ADS (in shares)												12,500
Total grant date fair value of warrants													$ 2,749,369
Fair value of warrants												$ 2,317,316
Exercise of warrants ADS													12,500
Reclassification of warrant liability to shareholders' equity													$ 7,874
2019 Registered Direct Offering
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aggregate ADSs issued (in shares)			2,368,392
Share issue price (in dollars per ADS)			$ 1.90
Gross proceeds from issuance			$ 4,500,000
Placement agent fees and expenses			$ 337,496
Threshold period for exercise of warrants on cashless basis			6 months
Nominal value of ADS (in per warrant ADS)			$ 0.0001
2019 Registered Direct Offering \| Investor Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants issued to purchase ADS (in shares)														1,184,213
Term of the warrants														5 years
Exercise price of warrants (in dollars per ADS)														$ 3.00
2019 Registered Direct Offering \| Placement Agent Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants issued to purchase ADS (in shares)			177,629
Exercise price of warrants (in dollars per ADS)			$ 2.85
2019 Registered Direct Offering \| 2019 Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Share issue price (in dollars per ADS)			4.50
2020 Private Placement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aggregate ADSs issued (in shares)		5,620,296
Share issue price (in dollars per ADS)		$ 1.70
Gross proceeds from issuance		$ 9,500,000
Placement agent fees and expenses	$ 808,362
Threshold period for exercise of warrants on cashless basis	6 months
Nominal value of ADS (in per warrant ADS)	$ 0.0001
Warrants issued													3,259,759
Warrants outstanding (in shares)													3,247,259
2020 Private Placement \| Investor Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants issued to purchase ADS (in shares)																2,810,136
Exercise price of warrants (in dollars per ADS)			3.00													$ 2.20
2020 Private Placement \| Placement Agent Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants issued to purchase ADS (in shares)	449,623
Term of the warrants	5 years
Exercise price of warrants (in dollars per ADS)	$ 2.55		$ 2.85

Shareholders' Equity (Details)	12 Months Ended
Shareholders' Equity (Details)	Dec. 31, 2020 $ / shares shares
Class of Warrant or Right [Line Items]
Beginning Balance	1,361,842
Warrants issued	3,259,759
Warrants exercised	(12,500)
Ending Balance	4,609,101
Investor Warrants 2019
Class of Warrant or Right [Line Items]
Beginning Balance	1,184,213
Exercise Price \| $ / shares	$ 3.00
Ending Balance	1,184,213
Placement Warrants 2019
Class of Warrant or Right [Line Items]
Beginning Balance	177,629
Exercise Price \| $ / shares	$ 2.85
Ending Balance	177,629
Investor Warrants 2020
Class of Warrant or Right [Line Items]
Exercise Price \| $ / shares	$ 2.20
Warrants issued	2,810,136
Warrants exercised	(12,500)
Ending Balance	2,797,636
Placement Warrants 2020
Class of Warrant or Right [Line Items]
Exercise Price \| $ / shares	$ 2.55
Warrants issued	449,623
Ending Balance	449,623

Shareholders' Equity - Employees and directors share option plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shareholders' Equity
Number of shares, Options Outstanding at beginning of the period	94,349,035	94,096,998	90,061,998
Number of shares, Granted	20,800,000	7,800,000	41,150,000
Number of shares, Forfeited	(2,500,000)	(7,547,963)	(37,115,000)
Number of shares, Options Outstanding at end of the period	112,649,035	94,349,035	94,096,998
Number of shares, Exercisable options at end of the period	77,667,785
Weighted average exercise price, Outstanding at beginning of the period	$ 0.10	$ 0.12	$ 0.15
Weighted average exercise price, Granted	0.02	0.02	0.02
Weighted average exercise price, Forfeited	0.02	0.23	0.07
Weighted average exercise price, Outstanding at end of the period	0.09	0.10	0.12
Options exercisable at end of the period, Weighted average exercise price	0.12
Weighted average grant date fair value, Granted	0.01	0.01	0.01
Weighted average grant date fair value, Forfeited	$ 0.02	$ 0.14	$ 0.05
Weighted average remaining contractual term, Options outstanding during the period (in years)	7 years 1 month 6 days		8 years 4 months 24 days
Weighted average remaining contractual term, Options exercisable at end of the period (in years)	6 years 4 months 24 days	7 years 7 months 6 days
Aggregate intrinsic value, Options outstanding at beginning of the period		$ 0	$ 266,011
Aggregate intrinsic value, Options outstanding, granted	$ 6,440
Aggregate intrinsic value, Options outstanding at end of the period	9,550		$ 0
Aggregate intrinsic value, Options exercisable at end of the period	$ 1,950

Shareholders' Equity - Assumptions used for options granted (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility		75.40%
Expected volatility, Minimum	83.88%		70.52%
Expected volatility, Maximum	86.85%		82.23%
Risk-free interest		1.76%
Risk-free interest, Minimum	0.38%		2.49%
Risk-free interest, Maximum	0.49%		3.13%
Expected life		5 years 6 months
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest		1.76%
Expected life	5 years 6 months		5 years 6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life	6 years 3 months		6 years 3 months

Shareholders' Equity - Share options granted separated into ranges of exercise price (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	112,649,035	94,349,035	94,096,998	90,061,998
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	7 years 1 month 6 days		8 years 4 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.09	$ 0.10	$ 0.12	$ 0.15
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	77,667,785
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	6 years 4 months 24 days	7 years 7 months 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 0.12
Exercise Price Range One
Class of Stock [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	0.02
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 0.05
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	77,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	8 years 11 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.02
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	42,712,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	7 years 7 months 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 0.03
Exercise Price Range Two
Class of Stock [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	0.12
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 0.19
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	18,334,629
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	5 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.15
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	18,240,879
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	5 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 0.15
Exercise Price Range Three
Class of Stock [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 0.32
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	16,714,406
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	4 years 8 months 23 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.32
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	16,714,406
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	4 years 8 months 23 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 0.32

Shareholders' Equity - Additional Information (Details) - USD ($)				1 Months Ended		3 Months Ended		6 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2020	Feb. 28, 2020	Jul. 03, 2019	Jun. 30, 2020	Sep. 26, 2018	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 03, 2020	Feb. 21, 2020
Class of Stock [Line Items]
Gross proceeds						$ 7,095,368	$ 157,743	$ 19,053,960	$ 1,473,828	$ 19,053,960	$ 9,871,886	$ 25,046,461	$ 12,647,953	$ 500,000
Number Of Ordinary Shares Representing One American Depositary Share	100			100	100			100
2020 Purchase Agreement
Class of Stock [Line Items]
Gross proceeds	$ 30,000,000
Aspire Capital Fund LLC
Class of Stock [Line Items]
Gross proceeds					$ 20,000,000
Gross proceeds												$ 500,000
Number Of Ordinary Shares Representing One American Depositary Share												25,000,000
Number Of Shares To Be Issued	40,760,900			40,760,900				40,760,900				30,000,000
Percentage Of Volume Weighted Average Price Indicating Purchase Price	97.00%				97.00%
Aspire Capital Fund LLC \| 2020 Purchase Agreement
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues												460,758,800
Gross proceeds	$ 30,000,000											$ 6,000,000
Gross proceeds												$ 10,360,254
Sale of Stock, Number of Shares Issued in Transaction												536,666,700
Amount available under the share purchase commitment facility												$ 24,000,000	$ 30,000,000
Fair value of Commitment Shares	$ 900,000			$ 900,000				$ 900,000
American Depositary Share \| Aspire Capital Fund LLC
Class of Stock [Line Items]
Sale of Stock, Description of Transaction	30% of the aggregate shares of the Company's ADSs traded on its principal market on the next trading day (the "VWAP Purchase Date"), subject to a maximum number of 250,000 ADSs				30% of the aggregate shares of the Company's ADSs traded on its principal market on the next trading day (the "VWAP Purchase Date"), subject to a maximum number of 250,000 ADSs.
Number Of Shares To Be Issued	150,000			150,000	150,000			150,000
Share issue price (in dollars per ADS)				$ 0.25
Non Employee
Class of Stock [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized												$ 394,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition												1 year 10 months 24 days
2019 Registered Direct Offering
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues			2,368,392
Gross proceeds			$ 4,500,000
Sale of Stock, Price Per Share			$ 1.90
Share issue price (in dollars per ADS)			$ 1.90
2019 Registered Direct Offering \| Investor Warrants
Class of Stock [Line Items]
Warrants issued to purchase ADS (in shares)													1,184,213
Exercise price of warrants (in dollars per ADS)													$ 3.00
2019 Registered Direct Offering \| Placement Agent Warrants
Class of Stock [Line Items]
Warrants issued to purchase ADS (in shares)			177,629
Exercise price of warrants (in dollars per ADS)			$ 2.85
2020 Private Placement
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		5,620,296
Gross proceeds		$ 9,500,000
Sale of Stock, Price Per Share		$ 1.70
2020 Private Placement \| Paulson Warrants
Class of Stock [Line Items]
Warrants issued to purchase ADS (in shares)			1,361,842
2020 Private Placement \| Investor Warrants
Class of Stock [Line Items]
Warrants issued to purchase ADS (in shares)																2,810,136
Exercise price of warrants (in dollars per ADS)			$ 3.00													$ 2.20
2020 Private Placement \| Placement Agent Warrants
Class of Stock [Line Items]
Warrants issued to purchase ADS (in shares)															449,623
Exercise price of warrants (in dollars per ADS)			$ 2.85												$ 2.55
2018 Commitment Shares \| Aspire Capital Fund LLC
Class of Stock [Line Items]
Proceeds from Issuance Initial Public Offering												$ 500,000
Employees And Director
Class of Stock [Line Items]
Stock Issued During Period, Value, Share-based Compensation, Gross												$ 325,523	$ 1,047,387	$ 1,649,044
2014 Equity Incentive Plan
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period												344,747,462
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized												232,098,427
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period												10 years
2014 Equity Incentive Plan \| Minimum
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period												1 year
2014 Equity Incentive Plan \| Maximum
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period												4 years
American Depositary Share \| Aspire Capital Fund LLC
Class of Stock [Line Items]
Stock Issued During Period, Value, Issued for Services					$ 20,000,000

Related Party Transactions (Details) - USD ($)	12 Months Ended
Related Party Transactions (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Laboratory Testing Services [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	$ 234,000	$ 186,000	$ 8,000
Payable balances	100,000	119,000	49,000
Consulting Services [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	100,000	100,000	84,000
The Doctors Laboratory [Member]
Related Party Transaction [Line Items]
Operating Lease, Expense	$ 133,000	$ 134,000	$ 139,000

Commitments and Contingencies (Details) - USD ($)	1 Months Ended	12 Months Ended
Commitments and Contingencies (Details) - USD ($)	Aug. 24, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Commitments And Contingent Liabilities [Line Items]
Operating Leases, Rent Expense, Net		$ 173,000	$ 392,000	$ 814,000
Litigation Settlement, Expense		$ 0	$ 0	$ (2,700,000)
Directors and Officers Liability Insurance Provider
Commitments And Contingent Liabilities [Line Items]
Litigation Settlement, Expense	$ 2,700,000
SCAC
Commitments And Contingent Liabilities [Line Items]
Settlement Liabilities, Current					$ 2,700,000
Gain (Loss) Related to Litigation Settlement					$ (2,700,000)

Loss Per Share (Details) - shares	12 Months Ended
Loss Per Share (Details) - shares	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Loss Per Share
Basic weighted average shares outstanding	3,159,037,588	1,830,998,609	1,540,309,840
Dilutive weighted average shares outstanding	3,159,037,588	1,830,998,609	1,540,309,840

Loss Per Share - Antidilutive securities excluded from computation of earnings per share (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Line Items]
Total Anti-Dilutive Share Equivalents	573,559,135	230,533,235	94,096,998
Share options
Earnings Per Share [Line Items]
Total Anti-Dilutive Share Equivalents	112,649,035	94,349,035	94,096,998
Warrants Equity Classified
Earnings Per Share [Line Items]
Total Anti-Dilutive Share Equivalents	460,910,100	136,184,200	0
Warrants Liability Classified
Earnings Per Share [Line Items]
Total Anti-Dilutive Share Equivalents	0	0	0

Income Taxes (Details) - USD ($)	12 Months Ended
Income Taxes (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes
Domestic (UK)	$ (17,394,075)	$ (16,870,699)	$ (20,633,055)
Foreign	312,458	24,496	133,596
Net Loss Before Taxes	$ (17,081,617)	$ (16,846,203)	$ (20,499,459)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
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-Section 25
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-URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section S99
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-Subparagraph (SX 210.9-05(b)(2))
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes - Income taxes relating to the Company's operations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current income taxes
Domestic (UK)	$ 0	$ 0	$ 0
Foreign	0	0	0
Deferred income taxes
Domestic (UK)	0	0	0
Foreign	0	0	0
Income tax expense	0	0	0
US
Current income taxes
Foreign	$ 0	$ 0	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Income taxes at the UK statutory rate compared to the Company's income tax expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes
Net loss before income tax	$ (17,081,617)	$ (16,846,203)	$ (20,499,459)
Statutory rate	19.00%	19.00%	19.00%
Expected income tax recovery	$ (3,245,507)	$ (3,200,779)	$ (3,894,897)
Impact on income tax expense/recovery from
Change in valuation allowance	4,287,778	3,150,021	(1,322,117)
Permanent differences	81	161,543	0
U.S. state taxes (net of FBOS)	(655,877)	(370,870)	0
Tax rate difference in foreign jurisdictions	(136,343)	(1,960)	2,686,296
Change of tax rate due to U.S. tax reform	0	0	0
Change of tax rate from prior year	0	(63,133)	1,602,112
Deferred tax adjustments	(250,132)	325,178	928,606
Income tax expense	$ 0	$ 0	$ 0

Income Taxes - Deferred tax assets and liabilities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets
Stock-based compensation	$ 1,295,841	$ 1,240,284
PP&E and other accrued liabilities	244,638	120,046
Intangibles	1,763,151	1,937,082
Warrant revaluation	0	192,825
Tax loss carry forward	22,913,429	18,439,041
Valuation allowance	(26,217,059)	(21,929,278)
Deferred tax assets/liabilities	$ 0	$ 0

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	19.00%	19.00%	19.00%
Effective Income Tax Rate Reconciliation, Tax Credit, Percent	14.50%
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 26.4
Great Britain
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	19.00%
UNITED KINGDOM \| Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 84.7
US
Operating Loss Carryforwards [Line Items]
2031	1.1
2037	1.3
2038	3.6
2039	12.7
SWITZERLAND
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 1.5

Segment Information (Details)	12 Months Ended
Segment Information (Details)	Dec. 31, 2020 USD ($) segment	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments \| segment	1
Total	$ 0	$ 2,096	$ 5,013	$ 8,388	$ 12,056	$ 15,834
US
Segment Reporting Information [Line Items]
Total			1,823
UNITED KINGDOM
Segment Reporting Information [Line Items]
Total			$ 3,190