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
Jun. 30, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 2,412 $ 620
Restricted cash and cash equivalents 790 1,565
Short term deposits 197
Trade receivables, net of allowance for credit losses of $168 as of June 30, 2024, and December 31, 2023. 690 664
Inventories 2,158 2,526
Prepaid expenses and other current assets, net of allowance for doubtful debts of $181 and $144 as of June 30, 2024, and December 31, 2023, respectively 491 340
TOTAL CURRENT ASSETS 6,541 5,912
NON-CURRENT ASSETS:    
Property and equipment, net 55 61
Prepaid expenses 592 592
Restricted cash and cash equivalents 160 3,330
Restricted bank deposits 89 94
Severance pay fund 235 238
Operating lease right of use assets 608 918
Long term deposits 77 78
TOTAL NON-CURRENT ASSETS 1,816 5,311
TOTAL ASSETS 8,357 11,223
CURRENT LIABILITIES:    
Credit line 1,045  
Current maturities of long-term loans 460 1,335
Trade payables 1,421 1,769
Deferred revenues 206 389
Employee and employee-related obligations 782 737
Accrued royalties 1,119 1,062
Operating lease liabilities 443 498
Other accrued liabilities 995 1,122
TOTAL CURRENT LIABILITIES 6,471 6,912
NON-CURRENT LIABILITIES:    
Long-term loan, net of current maturities 263 3,154
Deferred revenues 45 71
Operating lease liabilities 151 405
Accrued severance 263 270
Other long-term liabilities 27 23
TOTAL NON-CURRENT LIABILITIES 749 3,923
TOTAL LIABILITIES 7,220 10,835
COMMITMENTS AND CONTINGENCIES (Note 6)
MEZZANINE EQUITY    
Redeemable Convertible Preferred Stock $0.0001 par value, 10,000,000 authorized; None issued and outstanding as of June 30, 2024 and December 31, 2023.
WARRANTS TO PLACEMENT AGENT (Note 7) 201 159
SHAREHOLDERS’ EQUITY:    
Common stock, value 1 1
Additional paid-in capital 42,687 39,916
Accumulated deficit (41,752) (39,688)
TOTAL SHAREHOLDERS’ EQUITY 936 229
TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY 8,357 11,223
Non-voting    
SHAREHOLDERS’ EQUITY:    
Common stock, value