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

Significant Accounting Policies (Tables)

v3.23.1
Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2022
General [Abstract]  
Schedule of property and equipment, net of accumulated depreciation
    %
Computers   15 – 33
Equipment   7 – 33
Office furniture   7 – 15
Leasehold improvements   (*)

 

(*) Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term (including the extension option held by the Group and intended to be exercised) and the expected life of the improvement.

 

Schedule of intangible assets and estimated useful lives
    Estimated
useful life
Technology   Ten (10) years
Backlog   One (1) year

 

Schedule of fair value for options granted using the black-scholes option-pricing model
    Year ended December 31,  
    2022     2021     2020  
                   
Dividend yield     0 %     0 %     0 %
Expected volatility     80 %     80 %     80 %
Risk-free interest     3.00 %     0.81 %     0.36%-1.62 %
Expected life (in years)     5       5       5  

 

Schedule of fair value, assets and liabilities measured on recurring basis
    Fair value measurements using input type  
    Level 1     Level 2     Level 3     Total  
                         
Warrants    
     
    $ 15,459     $ 15,459  
Capital note    
     
      40,000       40,000  
                                 
Total financial liabilities    
     
    $ 55,459     $ 55,459  

 

    Fair value measurements using input type  
    Level 1     Level 2     Level 3     Total  
                         
Warrants    
     
    $ 106,975     $ 106,975  
Capital note    
     
      40,000       40,000  
                                 
Total financial liabilities    
     
    $ 146,975     $ 146,975  

 

Schedule of liabilities measured at fair value on a recurring basis
    Level 3  
       
Balance as of January 1, 2020   $ 1,544,112  
         
Fair value of warrants issued     192,451  
Changes in Fair value of warrants and capital note     7,011,437  
         
Balance as of December 31, 2020     8,748,000  
         
Allocation of the 8,000,000 warrants FV granted to former Jet CU shareholders to the consolidated statement of shareholders’ equity (deficit) as of September 23, 2021 in exchange for 5,428,572 additional ordinary shares     (488,907 )
Changes in Fair value of warrants and capital note     (8,112,118 )
         
Balance as of December 31, 2021     146,975  
         
Changes in Fair value of warrants and capital note     (91,516 )
         
Balance as of December 31, 2022     55,459