XML 47 R25.htm IDEA: XBRL DOCUMENT v3.24.0.1
Shareholders’ Equity (Deficit) (Tables)
12 Months Ended
Dec. 31, 2023
Shareholders' Equity (Deficit) [Abstract]  
Schedule of Share Capital The share capital as of December 31, 2023 and 2022, is composed of as follows:
   Number of shares 
   Authorized   Issued and outstanding 
   December 31,
2023
   December 31,
2022
   December 31,
2023
   December 31,
2022
 
Ordinary shares, NIS 0.01 par value   50,000,000    50,000,000    20,387,428    15,049,720 
Schedule of Options Activity Below is a summary of the Company’s options activity and related information with respect to options granted to employees during the years ended December 31, 2023 and 2022.
   Year ended
December 31,
   Year ended
December 31,
 
   2023   2022 
   Amount
of
options
   Weighted
average
exercise
price
   Amount
of
options
   Weighted
average
exercise
price
 
                 
Outstanding - beginning of the year   988,264   $0.563    863,264   $0.614 
Granted   *471,500   $1.224    145,000   $0.184 
Exercised   -   $-    (4,666)  $0.003 
Expired or forfeited   (5,000)  $0.664    (15,334)  $0.003 
                     
Outstanding - end of the year   1,454,764   $0.777    988,264   $0.563 
                     
Exercisable at end of year   889,125   $0.612    753,236   $0.703 
*Including the grant of 120,000 options to purchase up to 120,000 Ordinary Shares to directors, as approved by the Company’s shareholders on November 30, 2023, with an exercise price of $1.32 per share. The options will expire at the earlier of (i) ten years from the date of grant or (ii) 90 days following a termination of employment or service. The fair value of each option as of the grant date was $0.12, determined using the Black-Scholes option pricing model and the total expenses of $15 thousand will be expensed over the option vesting periods of three years.

 

Schedule of weighted-Average Assumptions The following weighted-average assumptions were used in determining the most recent fair values of stock options using the Black-Scholes valuation model:
   2023 
     
Expected dividend yield   0%
Expected stock price volatility   55.0%
Risk free interest rate   4.10%
Expected life of options   6.25 
Schedule of Options to Consultants The Company’s outstanding options to consultants as of December 31, 2023 were as follows:
Issuance date  In connection with 

No. of options
issued

    

Exercise
price

   

No. of options
exercisable

 
2015  Rendered services   110,655   $0.003     110,655 
2017  Rendered services   36,885   $0.003     36,885 
2021  Rendered services   69,090   $0.003-$2.25     69,090 
2023*  Rendered services   100,000   $0.546     37,778 
*On April 27, 2023, the Company’s Board of Directors approved the additional grant of options to purchase up to 100,000 Ordinary Shares to a consultant, with an exercise price of $0.55 per share. The options will expire at the earlier of (i) ten years from the date of grant or (ii) 90 days following a termination of services. The fair value of each option as of the grant date was $0.26, determined using the Black-Scholes option pricing model and the total expenses of $26 thousand will be expensed over the option vesting periods of three years.
Schedule of Share-Based Compensation Expenses The share-based compensation expenses are recognized in the following line items in the consolidated statements of comprehensive loss in the years ended:
   December 31 
   2023   2022   2021 
   U.S. dollars in thousands 
Research and development expenses   83    180    105 
Sales and marketing expenses   61    401    111 
General and administrative expenses   97    209    83 
    241    790    299 
Schedule of Issuance of Equity Warrants to Investors and Associate Equity Warrants to investors and associated with the IPO, as of December 31, 2023:
Number of warrants/ options   Issuance date  Exercise price   Exercise ratio  Expiration date  Notes
 7,860,861   September 13, 2022  $2.00   Each warrant is exercisable into 1 Ordinary Share  5 years following the issuance date  Registered for trading (*)
 671,687   September 15, 2022  $5.29   Each warrant is exercisable into 1 Ordinary Share, See note 7(B) above  18 months following the issuance date  Owned by April 2021 investors
 187,500   September 15, 2022  $5.31   Each warrant is exercisable into 1 Ordinary Share  5 years following the issuance date  Owned by underwriter
 23,640   September 15, 2022  $4.23   Each warrant is exercisable into 1 Ordinary Share  10 years following the issuance date  Owned by the legal advisor

 

(*) The warrants are exercisable at any time after their original issuance and at any time up to the date that is five years after their original issuance. The warrants will be exercisable, at the option of each holder, in whole or in part by delivering to us a duly executed exercise notice and, at any time a registration statement registering the issuance of the Ordinary Shares underlying the warrants under the Securities Act is effective and available for the issuance of such shares, by payment in full in immediately available funds for the number of Ordinary Shares purchased upon such exercise.