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, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash $ 362,609 $ 19,437
Restricted cash 4,984 5,627
Accounts receivable, net 110,687 46,613
Other current assets 230,319 252,790
Inventory, net 38,730 68,421
Total current assets 747,329 392,888
NON-CURRENT ASSETS:    
Property and equipment, net 125,548 91,658
Intangible asset, net 2,536,548
Goodwill 3,026,036 3,026,036
Right of use asset 135,107
Total non-current assets 3,286,691 5,654,242
Total assets 4,034,020 6,047,130
CURRENT LIABILITIES:    
Short term bank credit 69,877
Short term loans 234,004
Trade payables 508,716 626,271
Employees and payroll accruals 694,709 1,184,185
Accrued expenses and other current liabilities 2,577,711 2,782,888
Convertible loans 1,470,213 1,637,577
Warrants presented at fair value 17,296
Current maturity of lease liability 60,071
Total current liabilities 5,311,420 6,552,098
NON-CURRENT LIABILITIES:    
Capital note 40,000 40,000
Warrants presented at fair value 15,459 89,679
Israel Innovation Authority 381,216
Lease liability, net of current maturity 75,036
Total non-current liabilities 130,495 510,895
Total liabilities 5,441,915 7,062,993
Commitment and Contingencies (Note 9)
SHAREHOLDERS’ DEFICIT:    
Ordinary shares of NIS 0.01 par value - Authorized: 1,200,000,000 as of December 31, 2022 and 2021, respectively; Issued and outstanding: 147,134,792 and 90,205,191 ordinary shares as of December 31, 2022 and 2021, respectively 441,590 270,750
Additional paid in capital 38,856,908 34,910,233
Treasury stocks (122,482) (122,482)
Accumulated deficit (40,583,911) (36,074,364)
Total shareholders’ deficit (1,407,895) (1,015,863)
Total liabilities and shareholders’ deficit $ 4,034,020 $ 6,047,130