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

Significant Accounting Policies (Tables)

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Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2023
Significant Accounting Policies [Abstract]  
Schedule of Property and Equipment, Net of Accumulated Depreciation Property and equipment are stated at cost net of accumulated depreciation. Depreciation is calculated by the straight-line method, over the estimated useful lives of the assets, at the following annual rates:
    %
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 Intangible assets and their useful lives are as follows:
    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 The fair value for options granted is estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:
    Year ended December 31,  
    2023     2022     2021  
                   
Dividend yield     0 %     0 %     0 %
Expected volatility     80 %     80 %     80 %
Risk-free interest     3.87%-4.80 %     3.00 %     0.81 %
Expected life (in years)     5       5       5  

 
Schedule of Fair Value Liabilities Measured on Recurring Basis The following table presents liabilities measured at fair value on a recurring basis as of December 31, 2022:
    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  
The following table presents liabilities measured at fair value on a recurring basis as of December 31, 2023:
    Fair value measurements using input type  
    Level 1     Level 2     Level 3     Total  
                         
Warrants     —       —     $ 1,926     $ 1,926  
Capital note     —       —       40,000       40,000  
                                 
Total financial liabilities     —       —     $ 41,926     $ 41,926  

 
Schedule of Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs The following table presents reconciliations for the Company’s liabilities measured and recorded at fair value on a recurring basis, using significant unobservable inputs (Level 3):
    Level 3  
       
Balance as of January 1, 2021   $ 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  
         
Changes in Fair value of warrants and capital note     (13,533 )
         
Balance as of December 31, 2023     41,926