Unsecured Convertible Loan Notes and Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of detailed information about financial instruments [abstract]

Summary of Effects of Adoption of IAS in the Balance Sheet

. The effects of the adoption of IAS 1 in the balance sheet as of December 31, 2023, as previously reported, are detailed in the table below:

(in U.S. dollars)	As presented					Reclassified
	December 31,		Reclassification			December 31,
	2023					2023
Current liabilities
Borrowings		1,341,689		28,554,210			29,895,899
Derivative Financial Instruments		—		866,278			866,278
Total current liabilities	$	1,341,689	$	29,420,488		$	30,762,177
Non-current liabilities
Borrowings		63,220,501		(28,554,210	)		34,666,291
Derivative Financial Instruments		866,278		(866,278	)		—
Total non-current liabilities	$	64,086,779	$	(29,420,488	)	$	34,666,291

Summary of Convertible Notes Presented in the Balance Sheet

The convertible notes are presented in the consolidated balance sheet as follows:

Borrowings (current liabilities)
(in U.S. dollars)
	December 31,		December 31,
	2024		2023
Opening balance	$	28,554,210		—
Initial recognition		—		27,640,052
Costs of issue of convertible notes		—		(43,614	)
Interest expense*		1,806,365		957,772
Balance at December 31, 2024	$	30,360,575	$	28,554,210

* Interest expense, for the year ended December 31, 2024, is calculated by applying the effective interest rate of 6.564% to the liability component.

Derivative Financial Instruments (current liabilities)
(in U.S. dollars)	December 31,			December 31,
	2024			2023
Opening balance	$	866,278			—
Initial Recognition		—			2,359,948
Costs of issue of convertible notes		—			(3,724	)
Fair value loss (gain)		4,536,546			(1,525,320	)
Effect of foreign currency movements		(34,200	)		35,374
Balance at December 31, 2024	$	5,368,624		$	866,278