Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.23.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 808 $ 3,943
Short term deposits 810 1,622
Restricted bank deposits 780 451
Trade receivables, net of allowance for doubtful debts of $156 and $125 as of March 31, 2023, and December 31, 2022, respectively. 2,473 3,034
Inventories 1,274 1,179
Prepaid expenses and other current assets 413 678
TOTAL CURRENT ASSETS 6,558 10,907
NON-CURRENT ASSETS:    
Property and equipment, net 76 80
Prepaid expenses 492 492
Restricted cash 1,190 336
Restricted bank deposits 2,889 2,027
Severance pay fund 233 239
Operating lease right of use assets 548 726
Long term deposits 15 12
TOTAL NON-CURRENT ASSETS 5,443 3,912
TOTAL ASSETS 12,001 14,819
CURRENT LIABILITIES:    
Current maturities of long-term loans 1,206 553
Warrants 8 8
Trade payables 1,400 1,781
Deferred revenues 574 484
Employee and employee-related obligations 795 793
Accrued royalties 931 900
Operating lease liabilities 361 445
Other accrued liabilities 1,097 1,238
TOTAL CURRENT LIABILITIES 6,372 6,202
NON-CURRENT LIABILITIES:    
Long-term loan, net of current maturities 3,712 4,625
Deferred revenues 39 164
Operating lease liabilities 159 237
Accrued severance 271 278
Other long-term liabilities 33 48
TOTAL NON-CURRENT LIABILITIES 4,214 5,352
TOTAL LIABILITIES 10,586 11,554
COMMITMENTS AND CONTINGENCIES (Note 10)
REDEEMABLE CONVERTIBLE PREFERRED STOCK:    
Redeemable convertible preferred stock - $0.0001 par value, 10,000,000 authorized as of March 31, 2023, December 31, 2022. No issued and outstanding as of March 31, 2023, December 31, 2022.
SHAREHOLDERS’ EQUITY:    
Common stock, $0.0001 par value: 30,000,000 shares authorized as of March 31, 2023, and December 31, 2022, respectively; 1,730,066 and 1,737,986 shares issued and outstanding as of March 31, 2023, and December 31, 2022, respectively 1 1
Non-voting common stock, $0.0001 par value: 2,803,774 shares authorized as of March 31, 2023 and December 31, 2022, respectively; No issued and outstanding as of March 31, 2023 and December 31, 2022, respectively.
Additional paid-in capital 36,711 36,666
Accumulated deficit (35,297) (33,402)
TOTAL SHAREHOLDERS’ EQUITY 1,415 3,265
TOTAL LIABILITIES AND REDEEMABLE CONVERTIBLE PREFERRED STOCK AND SHAREHOLDERS’ EQUITY $ 12,001 $ 14,819