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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Loss for the period $ (4,685) $ (3,148)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 21 19
Stock-based compensation 260 274
Issuance of restricted shares as compensation towards directors 5 38
Linkage difference on principal of loans from stockholders 4 8
Changes in assets and liabilities:    
Increase in other current assets (216) (148)
Increase in accounts payable 598 117
Increase (Decrease) in other current liabilities (134) 51
Net cash used in operating activities (4,147) (2,789)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (4)
Net cash used in investing activities (4)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds received from underwritten U.S. public offering 8,730
Net cash provided by financing activities 8,730
Effect of exchange rate changes on cash and cash equivalents, and restricted cash (17) (40)
Change in cash, cash equivalents, and restricted cash 4,566 (2,833)
Cash, cash equivalents, and restricted cash at beginning of the period 2,331 6,113
Cash, cash equivalents, and restricted cash, end of period 6,897 3,280
Non-cash financing activities    
Deemed dividend upon trigger of down round protection $ 855