XML 27 R6.htm IDEA: XBRL DOCUMENT v3.25.2
Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:          
Net Loss $ (24,621) $ (10,693) $ (35,401) $ (20,914) $ (6,184)
Share-based compensation 15,274 1,623 3,657 3,269 306
Issuance of restricted shares to investors 610      
Depreciation and amortization 2,274 111 2,273 225 290
Decrease / (Increase) in other receivables 699 246 140 2,938 (2,936)
Impairment of intangible assets     2,197
Impairment of goodwill     6,813
Decrease / (Increase) in trade payables (549) 1,155 (2,780) 2,074 2,217
Decrease / (Increase) in other payables (375) 1,238 1,761 (235) 114
Increase in other liabilities     19 17
Revaluation of financial liabilities at fair value (1,516) (949) 1,890 1,496 387
Interest expenses / (income) and revaluation of convertible notes 2,277 1,871 6,818 3,899 51
Interest expenses due to short term loan 1,315      
Financial expenses due to bridge loans principal amounts 23 (53) 435
Interest on leases 18 32      
Remeasurement of investment in associated company     (22,164)
Provision of borrowing to related parties     621
Share in (earnings) losses of associated companies, net     101 (106)
Issuance of ordinary shares due to underwriter’s fee 238 238 11
Issuance cost due to inducement 185      
Issuance of warrants to the placement agent 426      
Issuance cost due to inducement Alpha warrant B’s exercise price     184
Issuance of ordinary shares due to commitment fee 460 460  
SPAC transaction - listing costs     16,802
Net cash flow used in operating activities (4,145) (4,536) (11,314) (12,479) (5,223)
Cash flows from investing activities:          
Purchase of property, plant and equipment (166) (21) (60) (152)
Capitalized development cost (169) (976) (975)
Net cash flow used in investing activities (166) (190) (1,036) (1,127)
Cash flows from financing activities:          
Payments of borrowings to related parties     (172)
Payment of lease liabilities (41) (40) (80) (42) (55)
Repayment of bridge loans (250) (30) (34) (30)
Proceeds from the issuance of Alpha new Note, warrants and derivative financial liability 2,025      
Proceeds from (repayment of) Pre-Paid Advance (423)      
Proceeds from the issuance of shares and warrants 2,698      
Exercise of warrants into ordinary shares 35      
Overdraft 21      
Repayment of short-term loan (200)      
Repayment of convertible notes (246)      
Repayment of pre-paid advances/Advance payment for equity, net     (423) 2,679
Proceeds from issuance of ordinary shares and pre-funded warrants     6,945 2,630 182
Exercise of warrants and pre-funded warrants into ordinary shares     2,399 642
Proceeds from issuance of convertible notes and security 3,426 350 3,303 2,606 581
Proceeds from short term loan     1,000
Proceeds from issuance of bridge loans and warrants     550 3,310
Issuance of shares in the SPAC transaction, net     2,919
Net cash flow from financing activities 2,689 4,636 13,110 11,954 3,846
Increase (decrease) in cash and cash equivalents (1,456) (66) 1,606 (1,561) (2,504)
Cash and cash equivalents at beginning of period 2,343 168 168 1,398 4,171
Exchange rate differences on cash and cash equivalent (137) (102) 569 331 (269)
Cash and cash equivalents at end of period 750 2,343 168 1,398
Appendix A – Non-Cash transactions during the period:          
Conversion of financial liability into ordinary shares   597 645 5,330
Conversion of warrants into ordinary shares        
Conversion of bridge loans and derivative financial liability into ordinary shares and warrants 128 128 5,192
Exercise of warrants into ordinary shares 458      
Conversion of convertible notes into ordinary shares 3,204 2,346      
Issuance cost due to inducement Alpha warrants B’s exercise price 107      
Issuance of warrants to the placement agent – issuance expenses against additional paid in capital $ (698)      
Conversion of convertible notes and warrants into ordinary shares     8,530 175
Exercise of cashless options into ordinary shares     314 2,925
Exercise of warrants and pre-funded warrants into ordinary shares     4,824 1,008
Issuance cost     152
Other current receivable in connection to exercise of Series A Common Warrant     1,510
Remeasurement of investment in associated company     $ (22,164)