XML 22 R6.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities    
Net loss $ (4,929) $ (3,450)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2 1
Stock-based compensation 246 818
Income (loss) from marketable equity securities sale and revaluation (1,197) 527
Amortization of premium related to convertible loans (Notes 8 and 13) (1,257)
Accrued interest on convertible loans (Notes 8 and 13b) 45
Loss from extinguishment of convertible loans (Notes 8 and 13b) 977
Gain from completion of milestone closing (Note 10) (847)
Gain from settlement shares (100)
Loss from recognition of mandatorily redeemable Series B Preferred Stock (Note 10) 3,207
Change from revaluation of mandatorily redeemable Series B Preferred Stock (Note 10) 597
Change from revaluation of contingent obligation with respect to future revenues (Note 10) 435
Increase in license purchase obligation (Note 6) 150 150
Financial expenses 17
Change in:    
Other current assets 313 62
Accounts payable 587 63
Net cash used in operating activities (1,519) (2,064)
Cash flows from investing activities    
Purchase of property and equipment (1) [1]
Proceeds from sale of marketable equity securities 824
Net cash provided by investing activities 823 [1]
Cash flows from financing activities    
Proceeds from issuance of shares and warrants (Note 13n) 550
Net proceeds from issuance of mandatorily redeemable Series B Preferred Stock 100
Loan received 247
Convertible loan repayment (760)
Repayment of license purchase obligation (150) (150)
Net cash provided by (used in) financing activities 197 (360)
Effect of exchange rate change on cash, cash equivalents and restricted cash
Change in cash, cash equivalents and restricted cash (499) (2,424)
Cash, cash equivalents and restricted cash at the beginning of the year 759 3,183
Cash, cash equivalents and restricted cash at the end of the year 260 759
Supplemental disclosure of non-cash investing and financing activities:    
Ordinary shares issued through receipt of marketable securities (Note 13b) 765
Amount allocated to the repurchase right for existing right for future investment related to the 2016 Loan and the 2017 Loan - March 2019 Loan Amendment (481)
Amounts that were allocated to the recognition of right for future investment - 2016 Loan - March 2019 Loan Amendment 256
Amounts that were allocated to the recognition of right for future investment - 2017 Loan - March 2019 Loan Amendment 386
Deemed dividends with respect to the repurchase of right for future investment - March 2019 Loan Amendment 104
Amount allocated to the repurchase right for existing right to future investment related to the 2016 Loan and the 2017 Loan - May 2019 Amendment (152)
Amounts that were allocated to the right for future investment and warrants - 2016 Loan - May 2019 Amendment 381
Amounts that were allocated to the right for future investment and warrants - 2017 Loan - May 2019 Amendment 576
Deemed dividends with respect to the repurchase of right for future investment - May 2019 Amendment 81
Amount allocated to the 2016 Loan - March 2019 Loan Amendment 729
Amount allocated to the 2017 Loan - March 2019 Loan Amendment 1,037
Amount allocated to the 2016 Loan - May 2019 Amendment 634
Amount allocated to the 2017 Loan - May 2019 Amendment 922
Repayment of convertible loans through Common Stock 760
Deemed dividend due to exercise price adjustment of warrants as a result of certain down-round anti-dilution protection or price protection features included in the warrants 267
Sell of Cannabics's shares through a broker 260
Amounts transferred from Series B Preferred Stock proceeds to restricted deposit held in escrow 3,700
Investment in marketable securities - Bonus Shares 13,851
Recognition of contingent obligation with respect to future revenues 5,059
Issuance of mandatorily redeemable Series B Preferred Stock 7,400
Settlement of mandatorily redeemable series B Preferred Stock through distribution of Bonus Shares 7,604
Deemed dividend due to exercise price adjustment of warrants 390
Issuance of shares with respect to exercise of warrants 17
Transaction costs liability, see note 10 350
Release of escrow account – Bonus Shares $ 3,700
[1] Representing amount less than $1