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Ipo | 3 Months Ended
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Mar. 31, 2022
Industry-Specific Policies [Abstract] |
IPO | NOTE 12 – IPO: On May 17, 2022, the Company finalized its IPO, offering of an aggregate of 4,212,500 shares of common stock, including the partial exercise by the underwriter of its option to purchase 462,500 additional shares of common stock, at a price to the public of $4.00 per share. The net proceeds from the offering, including the over-allotment, to the Company were approximately $15.4 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. As a result of the IPO, the Company issued common stock as described below:
| a. | Conversion of the convertible loan agreement -the Company issued 1,638,161 shares of common stock.
| b. | Convertible preferred stock - the Company issued 7,731,083 common stock (on a one (1) for one (1) basis).
| c. | Conversion of Warrants:
| a. | The Company issued 180,000 shares of common stock to Migdalor as part of the loan agreement with Migdalor.
| b. | The Company issued 617,567 shares of common stock to Mizrahi-Tefahot Bank.
| d. | Convertible notes granted in the Company’s offering during December 2021 and March 2022 the Company issued 900,096 shares of common stock.
| e. | The Company redeemed 1,783,773 shares of non-voting common stock for their par value.

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- Definition Disclosure of accounting policy for public utilities. Examples include a discussion about the scope criteria and appropriateness for and extent of the application of generally accepted accounting principles related to accounting for the effects of certain types of regulation (may include identification of specific business units). Other examples of the disclosures may include: descriptions of the form and economic effects of regulation (for example, but not limited to, recording of regulatory assets and liabilities to the rate setting process); statement about periodic assessments of periodic assessments of generally accepted accounting principles related to accounting for the effects of certain types of regulation; information regarding amortization of and return on regulatory assets and liabilities, including the remaining amounts and recovery or settlement periods; accounting for changes to recovery estimates; AFUDC, plant abandonment's and plant disallowances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 980 -SubTopic 10 -Section 05 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=126950214&loc=d3e39995-110364 + Details
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