XML 15 R7.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss from operations $ (2,264,027) $ (2,273,700)
Adjustments required to reconcile net loss to net cash used in operating activities:    
Depreciation 28,981 4,250
Financial income (13,094) (96,917)
Share-based compensation 88,497 33,353
Change in fair value of warrants 60,454
Changes in operating assets and liabilities:    
Increase (decrease) in accrued severance pay (19,867) 156,559
Decrease (increase) in trade receivables, net 855,809 (62,494)
Increase in other receivables (297,295) (576,823)
Increase in inventories (404,007) (141,701)
Increase (decrease) in trade payables (407,759) 29,410
Increase (decrease) in other current liabilities 181,767 (82,169)
Net cash used in operating activities (2,250,995) (2,949,778)
Cash flows from investing activities:    
Proceeds from (investment in) short-term deposits, net 4,000,000 (11,000,000)
Investment in severance funds (22,183)
Purchase of property, plant and equipment (73,041) (64,735)
Net cash provided by (used in) investing activities 3,926,959 (11,086,918)
Cash flows from financing activities:    
Repayment of short-term bank credit (410,324)
Issuance of shares and warrants 17,824,992
Issuance costs paid (2,101,875)
Repayment of long-term bank loans (744,769)
Repurchase of treasury stock (119,536)
Repayment of loan from related party (200,000)
Net cash provided by (used in) financing activities (119,536) 14,368,024
Increase in cash, cash equivalents and restricted deposit 1,556,428 331,328
Cash, cash equivalents and restricted deposit at the beginning of the year 255,530 49,126
Cash, cash equivalents and restricted deposits at the end of the period 1,811,958 380,454
Cash paid during the period for:    
Interest received 124,536
Interest paid 5,008 10,969
Supplemental disclosures of non-cash flow information    
Reclassification of warrants to purchase ordinary shares from liability to equity 412,299
Cash and cash equivalents 1,780,031 346,866
Restricted deposits 31,927 33,588
Total $ 1,811,958 $ 380,454