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

Share Capital (Tables)

v3.24.1.u1
Share Capital (Tables)
 12 Months Ended
Dec. 31, 2023
Share Capital [Abstract]  
Schedule of Ordinary shares The share capital as of December 31, 2023 and 2022 is comprised of ordinary shares of NIS 0.01 ($0.003 based on the exchange rate of $1.00 / NIS 3.627 in effect as of December 31, 2023) par value as follows:
    Number of ordinary
shares		     Number of ordinary
shares		  
    Authorized     Issued and
outstanding		     Authorized     Issued and
outstanding		  
    December 31, 2023     December 31, 2022  
                                 
Ordinary shares     1,200,000,000       182,942,418       1,200,000,000       147,134,792  

 
Schedule of Stock Option Activities and Related Information A summary of the Company’s option activities and related information for the year ended December 31, 2022, is as follows:
    Number of
options		     Weighted
average
exercise
price		     Weighted
average
remaining
contractual
life (years)		     Aggregate
intrinsic-
value		  
                         
Outstanding as of January 1, 2022     18,323,222     $ 0.12                           
Granted     6,600,000       0.07                  
Forfeited     (2,655,464 )     0.10                  
                                 
Outstanding as of December 31, 2022     22,267,758     $ 0.11       4.66     $
—
  
                                 
Exercisable as of December 31, 2022     15,999,078     $ 0.12       4.00     $
—
  
A summary of the Company’s option activities and related information for the year ended December 31, 2023, is as follows:
    Number of
options		     Weighted
average
exercise
price		     Weighted
average
remaining
contractual
life (years)		     Aggregate
intrinsic-
value		  
                         
Outstanding as of January 1, 2023     22,267,758     $ 0.11                             
Granted     5,799,322       0.07                  
Forfeited     (4,232,333 )     0.14                  
                                 
Outstanding as of December 31, 2023     23,834,747       0.09       4.47     $
—
  
                                 
Exercisable as of December 31, 2023     15,521,065       0.09       3.53     $
—
  

 
Schedule of Options Granted to Officers, Directors, Employees, Consultants and Service Providers The options granted to officers, directors, employees, consultants and service providers of the Company which were outstanding as of December 31, 2022 have been classified into exercise prices as follows:
Exercise price     Number of
options		     Weighted average
remaining
contractual life
(years)		     Number of
options		     Weighted average
remaining
contractual life
(years)		  
                           
$ 0.03       4,451       1.8       4,451       1.8  
  0.068       13,728,037       4.0       13,649,773       4.0  
  0.07       7,303,436       6.5       1,113,020       5.4  
  0.27       739,000       3.0       739,000       3.0  
  0.34       8,020       0.9       8,020       0.9  
  0.92       455,501       1.5       455,501       1.5  
$ 5.73       29,313       0.9       29,313       0.9  
          22,267,758               15,999,078          
The options granted to officers, directors, employees, consultants and service providers of the Company which were outstanding as of December 31, 2023 have been classified into exercise prices as follows:
      Outstanding     Exercisable  
Exercise price     Number of
options		     Weighted average
remaining
contractual life
(years)		     Number of
options		     Weighted average
remaining
contractual life
(years)		  
                           
$ 0.03       4,451       0.8       4,451       0.8  
  0.068       11,175,162       3.0       11,175,162       3.0  
  0.07       11,767,134       6.1       3,453,452       5.6  
  0.27       541,500       1.9       541,500       1.9  
$ 0.92       346,500       1.0       346,500       1.0  
          23,834,747               15,521,065          
Schedule of Stock Based Compensation Stock based compensation were recorded as follows:
    Year Ended December 31,  
    2023     2022     2021  
                   
Research and Development   $ 41     $ 130,637     $ 147,696  
Sales and Marketing    
—
       30,804       47,031  
General and Administrative     68,210       319,501       263,646  
                         
    $ 68,251     $ 480,942     $ 458,373  
Schedule of Outstanding Warrants The Company’s outstanding warrants classified as equity as of December 31, 2022 are as follows
Outstanding     Issuance
year		     Exercise
price		     Exercisable through      
                         
  117,209       2009     $                (* )     Exit event     (**)
  59,384       2013       0.92       2023     (**)
  170,000       2018       0.50       2023     (**)
  200,001       2018       0.50       2023     (**)
  27,857,140       2022     $ 0.07       2024(***)     See Note 10.b.4.
                                 
  28,403,734                              
(*) Represents an amount lower than $0.01.
(**) Issued in connection with the 2018, 2013 and 2009 arrangements.
(***) The earlier of (i) the closing of a subsequent offering of Company securities by the Company to qualified investors with an effective price per Ordinary Share of at least $0.20 and (ii) the second anniversary of the issuance of such warrant.
Outstanding     Issuance
year		     Exercise
price		     Exercisable through      
                         
  117,209       2009     $                (* )     Exit event     (**)
  28,571,425       2022       0.07       2024(***)     See Note 10.b.4.
  11,428,570       2023     $ 0.07       2025     See Note 10.b.5.
                                 
  40,117,204                              
(*) Represents an amount lower than $0.01.
(**) Issued in connection with a 2009 arrangement.
(***) The earlier of (i) the closing of a subsequent offering of Company securities by the Company to qualified investors with an effective price per Ordinary Share of at least $0.20 and (ii) the second anniversary of the issuance of such warrant.