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Finacial Liabilities at Fair Value

12 Months Ended

Dec. 31, 2023

Finacial Liabilities at Fair Value [Abstract]

FINACIAL LIABILITIES AT FAIR VALUE

NOTE 8 - FINACIAL LIABILITIES AT FAIR VALUE:

		December 31, 2023				December 31, 2022
Financial liability (1)			11				26
Non-tradable warrants (2)			1,459				-
Total			1,470				26

1. Financial Liability

The Company agreed to pay fees of 7% from the funds that will be received in an event of exercise of the Company’s tradable warrants which created a financial liability. The financial liability was designated to be measured at fair value through profit or loss.

The financial liability fair value as of December 31, 2023, and 2022 is $11 and $26 respectively.

2. Private Warrants

On December 26, 2023, the Company entered into the Purchase Agreement (Note 1 and Note 9), pursuant to which it issued unregistered warrants, to purchase up to an aggregate of 3,031,250 Ordinary Shares at an exercise of $1.28 per share. The Warrants were exercisable immediately upon issuance and will expire three and a half years following their issuance.

The warrants include cashless exercise mechanism, according to the terms specified in the agreement.

The warrants may create obligation to transfer cash to the investors at fundamental transactions according to fair value of the black Scholes model that include variable inputs.

Therefore, the Company accounts for the warrants as financial liability instruments that measured at fair value and recognized financial expenses or income through profit and loss.

The warrants fair value as of the issuance date and December 31, 2023, were $1,750 and $1,459 respectively.

The key inputs that were used in the Private Warrants fair value as of issuance date were:

● risk-free interest rate 4.00%

● expected volatility 66.71%

● expected dividend yield of 0%

● expected term of warrants – 3.5 years.

The key inputs that were used in the Private Warrants fair value as of December 31, 2023, were:

● risk-free interest rate 4.00%

● expected volatility 66.63%

● expected dividend yield of 0%

● expected term of warrants – 3.5 years.

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- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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- References

No definition available.

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