Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 682 $ 3,943
Short term deposits 254 1,622
Restricted bank deposits 450 451
Trade receivables, net of allowance for credit losses of $125 as of September 30, 2023, and December 31, 2022. 715 3,034
Inventories 2,698 1,179
Prepaid expenses and other current assets 616 678
TOTAL CURRENT ASSETS 5,415 10,907
NON-CURRENT ASSETS:    
Property and equipment, net 66 80
Prepaid expenses 592 492
Restricted cash 2,407 336
Restricted bank deposits 2,036 2,027
Severance pay fund 225 239
Operating lease right of use assets 403 726
Long term deposits 14 12
TOTAL NON-CURRENT ASSETS 5,743 3,912
TOTAL ASSETS 11,158 14,819
CURRENT LIABILITIES:    
Current maturities of long-term loans 1,229 553
Warrants 8 8
Trade payables 2,192 1,781
Deferred revenues 386 484
Employee and employee-related obligations 732 793
Accrued royalties 924 900
Current maturities of operating lease liabilities 255 445
Other accrued liabilities 905 1,238
TOTAL CURRENT LIABILITIES 6,631 6,202
NON-CURRENT LIABILITIES:    
Long-term loan, net of current maturities 3,175 4,625
Deferred revenues 164
Operating lease liabilities 129 237
Accrued severance 256 278
Other long-term liabilities 25 48
TOTAL NON-CURRENT LIABILITIES 3,585 5,352
TOTAL LIABILITIES 10,216 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 September 30, 2023, December 31, 2022. None issued and outstanding as of September 30, 2023, December 31, 2022.
WARRANTS TO PLACEMENT AGENT (Note 11(e)) 104
SHAREHOLDERS’ EQUITY (**):    
Common stock, value [1] 1 1
Additional paid-in capital [1] 38,594 36,666
Accumulated deficit [1] (37,757) (33,402)
TOTAL SHAREHOLDERS’ EQUITY [1] 838 3,265
TOTAL LIABILITIES AND REDEEMABLE CONVERTIBLE PREFERRED STOCK WARRANTS TO PLACEMENT AGENT AND SHAREHOLDERS’ EQUITY 11,158 14,819
Non-voting    
SHAREHOLDERS’ EQUITY (**):    
Common stock, value [1]
[1] Adjusted to reflect reverse stock split, see note 3(f).