Actelis Networks, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 10 - COMMITMENTS AND CONTINGENCIES: The Company is obligated to repay certain research and development grants received from the Government of Israel in the form of a royalty rate on future sales of products derived from the funded research and development activities. The aggregate amount of royalties to be paid is determined based on 100% of the total grants received for qualified projects plus interest based on LIBOR. The Company may be required to pay royalties based on previous years funding in periods after June 30, 2023, for the future sale of product that includes technology developed and funded with these research and development grants received to date. As of June 30, 2023, the Company had received approximately $14,300 (approximately $15,500 including LIBOR) and repaid approximately $10,000 in such grants. During the year ended December 31, 2022, the Company paid an amount of $221, due in regard to previous years. As of June 30, 2023, and December 31, 2022, the Company had a liability to pay royalties in the amount of approximately $996 and $900, respectively.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

NOTE 10 - COMMITMENTS AND CONTINGENCIES:

The Company is obligated to repay certain research and development grants received from the Government of Israel in the form of a royalty rate on future sales of products derived from the funded research and development activities. The aggregate amount of royalties to be paid is determined based on 100% of the total grants received for qualified projects plus interest based on LIBOR. The Company may be required to pay royalties based on previous years funding in periods after June 30, 2023, for the future sale of product that includes technology developed and funded with these research and development grants received to date.

As of June 30, 2023, the Company had received approximately $14,300 (approximately $15,500 including LIBOR) and repaid approximately $10,000 in such grants.

During the year ended December 31, 2022, the Company paid an amount of $221, due in regard to previous years.

As of June 30, 2023, and December 31, 2022, the Company had a liability to pay royalties in the amount of approximately $996 and $900, respectively.