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Discontinued Operations

12 Months Ended

Dec. 31, 2024

Discontinued Operations [Abstract]

DISCONTINUED OPERATIONS

NOTE 14 - DISCONTINUED OPERATIONS:

On July 4, 2023, the Company signed an agreement with TerraZone Ltd. (“TerraZone”) for the sale of its enterprise cybersecurity segment in exchange for 7% of the outstanding shares of TerraZone, which represent an estimated fair value consideration of $82 thousand. The sale included all assets and liabilities of the enterprise cybersecurity business, excluding certain patents. The Company’s enterprise cybersecurity business was focused on information security solutions for organizations. The sale will enable the Company to benefit from a streamlined business model, simplified operating structure, and enhanced management focus. Financial information relating to the discontinued operation for the years ended December 31, 2023 and 2022 is set out below.

Financial performance

		Year ended December 31
		2023				2022
		U.S. dollars in thousands
Revenue			-				229
Expenses			-				924
Loss before taxes on income			-				(695	)
Gain from sale of discontinued operations			82				-
Taxes on income			-				-
Profit (loss) from discontinued operations, net of tax			82				(695	)

Basic and diluted profit (loss) per share from discontinued operations (in U.S. dollars)			0.00				(0.03	)

Cash flows

		Year ended December 31
		2023				2022
		U.S. dollars in thousands
Net cash used in operating activities			-				(935	)
Net cash used in financing activities			-				(13	)
Net cash outflow			-				(948	)