Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 31,327 $ 34,382
Restricted cash 15,915
Accounts receivable, net 199,367 86,494
Other current assets 90,109 194,173
Inventory, net 85,243 102,782
Total current assets 406,046 433,746
NON-CURRENT ASSETS:    
Property and equipment, net 144,865 248,316
Intangible asset, net 2,964,979 3,393,413
Goodwill 3,026,036 3,026,036
Total non-current assets 6,135,880 6,667,765
Total assets 6,541,926 7,101,511
CURRENT LIABILITIES:    
Short term bank credit 55,845 92,230
Short-term loans 14,489
Trade payables 612,129 783,592
Employees and payroll accruals 750,872 680,290
Accrued expenses and other current liabilities 1,923,434 790,097
Convertible loans 6,567,411 3,899,516
Warrants presented at fair value 7,343,894 158,112
Total current liabilities 17,253,585 6,418,326
NON-CURRENT LIABILITIES:    
Capital note 40,000 40,000
Convertible loans 291,474
Warrants presented at fair value 1,364,106 1,346,000
Israel National Authority for Technology and Innovation 755,980
Total non-current liabilities 2,160,086 1,677,474
Total liabilities 19,413,671 8,095,800
SHAREHOLDERS’ DEFICIT:    
Ordinary shares of NIS 0.01 par value - Authorized: 1,200,000,000 and 200,000,000 as of December 31, 2020 and 2019, respectively; Issued and outstanding: 26,986,203 and 24,393,218 ordinary shares as of December 31, 2020 and 2019, respectively 73,403 65,842
Additional paid in capital 20,732,834 19,951,632
Treasury stocks (122,482)
Accumulated deficit (33,555,500) (21,011,763)
Total shareholders’ deficit (12,871,745) (994,289)
Total liabilities and shareholders’ deficit $ 6,541,926 $ 7,101,511