Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.23.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 2,573 $ 3,943
Short term deposits 809 1,622
Restricted bank deposits 454 451
Trade receivables, net of allowance for credit losses of $125 as of June 30, 2023, and December 31, 2022. 1,759 3,034
Inventories 1,808 1,179
Prepaid expenses and other current assets 470 678
TOTAL CURRENT ASSETS 7,873 10,907
NON-CURRENT ASSETS:    
Property and equipment, net 70 80
Prepaid expenses 492 492
Restricted cash 2,214 336
Restricted bank deposits 2,213 2,027
Severance pay fund 231 239
Operating lease right of use assets 464 726
Long term deposits 17 12
TOTAL NON-CURRENT ASSETS 5,701 3,912
TOTAL ASSETS 13,574 14,819
CURRENT LIABILITIES:    
Current maturities of long-term loans 1,223 553
Warrants 8 8
Trade payables 1,918 1,781
Deferred revenues 493 484
Employee and employee-related obligations 772 793
Accrued royalties 996 900
Current maturities of operating lease liabilities 303 445
Other accrued liabilities 1,003 1,238
TOTAL CURRENT LIABILITIES 6,716 6,202
NON-CURRENT LIABILITIES:    
Long-term loan, net of current maturities 3,456 4,625
Warrants 1,576
Deferred revenues 164
Operating lease liabilities 141 237
Accrued severance 264 278
Other long-term liabilities 32 48
TOTAL NON-CURRENT LIABILITIES 5,469 5,352
TOTAL LIABILITIES 12,185 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 June 30, 2023, December 31, 2022. None issued and outstanding as of June 30, 2023, December 31, 2022.
WARRANTS TO PLACEMENT AGENT (Note 11(e)) 104
SHAREHOLDERS' EQUITY (**):    
Common stock, $0.0001 par value: 3,000,000 shares authorized as of June 30, 2023, and December 31, 2022, respectively; 1,930,718 and 1,737,986 shares issued and outstanding as of June 30,2023 and December 31, 2022, respectively [1] 1 1
Non-voting common stock, $0.0001 par value: 2,803,774 shares authorized as of June 30, 2023, and December 31, 2022, respectively; None issued and outstanding as of June 30, 2023, and December 31, 2022, respectively. [1]
Additional paid-in capital [1] 38,174 36,666
Accumulated deficit [1] (36,890) (33,402)
TOTAL SHAREHOLDERS’ EQUITY [1] 1,285 3,265
TOTAL LIABILITIES AND REDEEMABLE CONVERTIBLE PREFERRED STOCK, WARRANTS TO PLACEMENT AGENT AND SHAREHOLDERS’ EQUITY [1] $ 13,574 $ 14,819
[1] Adjusted to reflect reverse stock split, see note 3(f).