Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.24.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (6,286) $ (10,982)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 27 23
Changes in fair value related to warrants to lenders and investors (1,658) 1,049
Warrant issuance costs 223
Inventory write-downs 239 147
Exchange rate differences (460) (627)
Share-based compensation 377 220
Changes in fair value related to convertible loan 1,648
Changes in fair value related to convertible note 1,753
Interest expenses 295 830
Changes in operating assets and liabilities:    
Trade receivables 2,370 (887)
Net change in operating lease assets and liabilities 19 (44)
Inventories (1,585) (429)
Prepaid expenses and other current assets 357 (280)
Other long-term assets (100) (492)
Trade payables (25) (139)
Deferred revenues (188) (25)
Other current liabilities (172) 508
Other long-term liabilities (10) (41)
Net cash used in operating activities (6,577) (7,768)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Short term deposit, net 1,418 (1,622)
Long- term deposit (56) 66
Proceeds from restricted long term bank deposits 4,827
Deposit of restricted long-term bank deposits (2,810) (27)
Restricted short term bank deposit 451 (2,451)
Purchase of property and equipment (9)
Net cash provided by (used in) investing activities 3,821 (4,034)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of options 5
Proceeds from initial public offering 18,697
Proceeds from issuance of common stocks, pre-funded warrants and warrants (see note 14d) 5,000
Underwriting discounts and commissions and other offering costs (420) (2,175)
Repurchase of common stock (50)  
Repayment of long-term loan (769) (1,241)
Net cash provided by financing activities 3,761 15,286
Effect of exchange rate changes on cash and cash equivalents and restricted cash 231 (72)
INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 1,236 3,484
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF YEAR 4,279 795
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR 5,515 4,279
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
Cash and cash equivalents 620 3,943
Restricted cash equivalents, current 1,565
Restricted cash and cash equivalents, non-current 3,330 336
Total cash, cash equivalents and restricted cash 5,515 4,279
SUPPLEMENTARY DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 431 818
SUPPLEMENTARY INFORMATION ON INVESTING AND FINANCING ACTIVITIES NOT INVOLVING CASH FLOWS:    
Right of use assets obtained in exchange for new operating lease liabilities 702 237
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
Issuance costs of common stock, pre-funded warrants and warrants 159
Reclassification of warrants from liability to equity upon amendment to private placement agreement (see Note 14(d)) $ 314