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

Taxes on Income (Tables)

Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2023

Taxes on Income [Abstract]

Schedule of Deferred Tax Assets

Significant components of the Group’s deferred tax assets are as follows:

		December 31,
		2023				2022
Deferred tax assets
Operating loss carry forward		$	10,917,801			$	10,579,957
Temporary differences			179,381				189,099
			11,097,182				10,769,056
Deferred tax liability
Beneficial conversion feature			(99,790	)			(99,790	)

Total deferred tax, net			10,997,392				10,669,266

Valuation allowance			(10,997,392	)			(10,669,266	)

Net deferred tax assets		$	—			$	—

Schedule of Reconciliation of Tax Benefit

Reconciliation of the theoretical tax benefit and the actual tax expense:

		Year ended December 31,
		2023				2022				2021

Loss before tax benefit		$	(2,071,997	)		$	(4,509,547	)		$	(2,518,864	)

Statutory tax rate			23	%			23	%			23	%

Income tax benefit			476,559				1,037,196				579,339
Effect of:
Losses and timing differences for which valuation allowance was provided, net			(328,126	)			(438,612	)			(463,784	)
Non-deductible expenses and other permanent differences			(64,959	)			(624,299	)			(196,980	)
Other			(83,474	)			25,715				81,425

Income tax expense recognized in profit or loss		$	—			$	—			$	—