Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss for the year $ (10,982) $ (5,251)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 23 37
Changes in fair value related to warrants to lenders 1,049 1,031
Inventories write-downs 147 102
Exchange rate differences (642) 167
Share-based compensation 220 53
Changes in fair value related to convertible loan 1,648 1,342
Changes in fair value related to convertible note 1,753
Treasury shares 15
Interest expenses 830 235
Changes in operating assets and liabilities:    
Trade receivables (887) (731)
Net change in operating lease assets and liabilities (44)
Inventories (429) 78
Prepaid expenses and other current assets (280) (236)
Other long-term assets (492)
Long term deposits 27
Trade payables (139) (217)
Deferred revenues (25) 92
Other current liabilities 508 516
Other long-term liabilities (41) 29
Net cash used in operating activities (7,768) (2,726)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Short term deposit (1,622)
Long- term deposit 66
Restricted long term bank deposit (27)
Restricted bank deposit (2,451)
Purchase of property and equipment (54)
Net cash used in investing activities (4,034) (54)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of options 5 [1]
Proceeds from long-term debt, net of issuance costs 2,904
Proceeds from initial public offering and private placement 18,697
Underwriting discounts and commissions and other offering costs (2,175)
Repayment of long-term loan (1,241)
Net cash provided by financing activities 15,286 2,904
Effect of exchange rate changes on cash and cash equivalents and restricted cash (72) 167
INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 3,484 124
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF YEAR 795 671
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR 4,279 795
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
Cash and cash equivalents 3,943 693
Restricted bank deposit, non-current 336 102
Total cash, cash equivalents and restricted cash 4,279 795
SUPPLEMENTARY DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 818 511
SUPPLEMENTARY INFORMATION ON INVESTING AND FINANCING ACTIVITIES NOT INVOLVING CASH FLOWS:    
Additional warrants 95
Right of use assets obtained in exchange for new operating lease liabilities 237
Conversion of convertible loan to common stock upon initial public offering 6,553
Conversion of convertible note to common stock upon initial public offering 3,600
Conversion of warrants to common stock upon initial public offering 3,190
Conversion of convertible redeemable preferred stock to common stock upon initial public offering 5,585
Repurchase of common stock $ 15
[1] Represents an amount less than $1 thousands.