$IRME
IR-Med, Inc. Stock $irme

$irme Overview Financials Valuation SEC Filings Company Website

2022 Q4 Form 10-Q Financial Statement

#000149315222031938 Filed on November 14, 2022

Income Statement

Concept	2022 Q4	2022 Q3	2021 Q3
Revenue	$0.00	$0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$1.534M	$408.0K	$348.0K
YoY Change		17.24%
% of Gross Profit
Research & Development	$528.0K	$468.0K	$374.0K
YoY Change		25.13%
% of Gross Profit
Depreciation & Amortization	$0.00	$10.00K
YoY Change
% of Gross Profit
Operating Expenses	$2.062M	$876.0K	$722.0K
YoY Change		21.33%
Operating Profit		-$876.0K	-$722.0K
YoY Change		21.33%
Interest Expense	-$28.00K	$20.00K
YoY Change
% of Operating Profit
Other Income/Expense, Net		$20.00K	-$8.000K
YoY Change		-350.0%
Pretax Income	-$2.090M	-$856.0K
YoY Change
Income Tax
% Of Pretax Income
Net Earnings	-$2.090M	-$856.0K	-$730.0K
YoY Change		17.26%
Net Earnings / Revenue
Basic Earnings Per Share		-$0.01	-$0.01
Diluted Earnings Per Share	-$0.03	-$0.01
COMMON SHARES
Basic Shares Outstanding	68.72M shares	68.72M shares	64.60M shares
Diluted Shares Outstanding		68.72M shares

Balance Sheet

Concept	2022 Q4	2022 Q3	2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$3.002M	$3.786M
YoY Change
Cash & Equivalents	$3.002M	$3.786M	$3.550M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses	$12.00K
Receivables	$55.00K	$83.00K
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$3.057M	$3.869M
YoY Change	6.07%
LONG-TERM ASSETS
Property, Plant & Equipment	$71.00K	$70.00K
YoY Change	129.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$11.00K	$11.00K
YoY Change
Total Long-Term Assets	$237.0K	$254.0K
YoY Change	288.52%
TOTAL ASSETS
Total Short-Term Assets	$3.057M	$3.869M
Total Long-Term Assets	$237.0K	$254.0K
Total Assets	$3.294M	$4.123M
YoY Change	11.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$500.0K	$328.0K
YoY Change
Accrued Expenses	$132.0K
YoY Change	-5.71%
Deferred Revenue
YoY Change
Short-Term Debt	$162.0K	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$662.0K	$328.0K
YoY Change	67.59%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$159.0K
YoY Change
Other Long-Term Liabilities	$40.00K	$58.00K
YoY Change
Total Long-Term Liabilities	$40.00K	$217.0K
YoY Change	-77.4%
TOTAL LIABILITIES
Total Short-Term Liabilities	$662.0K	$328.0K
Total Long-Term Liabilities	$40.00K	$217.0K
Total Liabilities	$702.0K	$545.0K
YoY Change	22.73%
SHAREHOLDERS EQUITY
Retained Earnings	-$9.930M	-$7.840M
YoY Change	91.11%
Common Stock	$68.00K	$68.00K
YoY Change	6.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$2.592M	$3.578M	$3.288M
YoY Change
Total Liabilities & Shareholders Equity	$3.294M	$4.123M
YoY Change	11.93%

Cashflow Statement

Concept	2022 Q4	2022 Q3	2021 Q3
OPERATING ACTIVITIES
Net Income	-$2.090M	-$856.0K	-$730.0K
YoY Change		17.26%
Depreciation, Depletion And Amortization	$0.00	$10.00K
YoY Change
Cash From Operating Activities	-$779.0K	-$2.596M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures	$2.000K	$48.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities	$0.00	-$9.000K
YoY Change
Cash From Investing Activities	-$2.000K	-$57.00K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	0.000	3.625M
YoY Change
NET CHANGE
Cash From Operating Activities	-779.0K	-2.596M
Cash From Investing Activities	-2.000K	-57.00K
Cash From Financing Activities	0.000	3.625M
Net Change In Cash	-781.0K	972.0K
YoY Change
FREE CASH FLOW
Cash From Operating Activities	-$779.0K	-$2.596M
Capital Expenditures	$2.000K	$48.00K
Free Cash Flow	-$781.0K	-$2.644M
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Entity Central Index Key EntityCentralIndexKey	0001839133
	dei	Amendment Flag AmendmentFlag	false
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2021Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset		usd
CY2021Q4	us-gaap	Long Term Debt And Capital Lease Obligations LongTermDebtAndCapitalLeaseObligations		usd
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2022-09-30
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	333-255894
	dei	Entity Registrant Name EntityRegistrantName	IR-Med, Inc.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	NV
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	83-0452269
	dei	Entity Address Address Line1 EntityAddressAddressLine1	ZHR Industrial Zone
	dei	Entity Address City Or Town EntityAddressCityOrTown	Rosh Pina
	dei	Entity Address Country EntityAddressCountry	IL
	dei	City Area Code CityAreaCode	972
	dei	Local Phone Number LocalPhoneNumber	4-655-5054
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
	dei	Entity Shell Company EntityShellCompany	false
CY2022Q4	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	68720970	shares
CY2022Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	3786000	usd
CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	2815000	usd
CY2022Q3	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	83000	usd
CY2021Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	67000	usd
CY2022Q3	us-gaap	Assets Current AssetsCurrent	3869000	usd
CY2021Q4	us-gaap	Assets Current AssetsCurrent	2882000	usd
CY2022Q3	IRME	Long Term Restricted Deposit LongTermRestrictedDeposit	11000	usd
CY2021Q4	IRME	Long Term Restricted Deposit LongTermRestrictedDeposit	30000	usd
CY2022Q3	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	173000	usd
CY2022Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	70000	usd
CY2021Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	31000	usd
CY2022Q3	us-gaap	Assets Noncurrent AssetsNoncurrent	254000	usd
CY2021Q4	us-gaap	Assets Noncurrent AssetsNoncurrent	61000	usd
CY2022Q3	us-gaap	Assets Assets	4123000	usd
CY2021Q4	us-gaap	Assets Assets	2943000	usd
CY2022Q3	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	328000	usd
CY2021Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	395000	usd
CY2022Q3	us-gaap	Long Term Debt And Capital Lease Obligations LongTermDebtAndCapitalLeaseObligations	58000	usd
CY2022Q3	us-gaap	Due To Officers Or Stockholders Noncurrent DueToOfficersOrStockholdersNoncurrent	159000	usd
CY2021Q4	us-gaap	Due To Officers Or Stockholders Noncurrent DueToOfficersOrStockholdersNoncurrent	177000	usd
CY2022Q3	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	217000	usd
CY2021Q4	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	177000	usd
CY2022Q3	us-gaap	Liabilities Liabilities	545000	usd
CY2021Q4	us-gaap	Liabilities Liabilities	572000	usd
CY2022Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2021Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2022Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	250000000	shares
CY2021Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	250000000	shares
CY2022Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	68720970	shares
CY2022Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	68720970	shares
CY2021Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	64601649	shares
CY2021Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	64601649	shares
CY2022Q3	us-gaap	Common Stock Value CommonStockValue	68000	usd
CY2021Q4	us-gaap	Common Stock Value CommonStockValue	64000	usd
CY2022Q3	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	11350000	usd
CY2021Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	7503000	usd
CY2022Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-7840000	usd
CY2021Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-5196000	usd
CY2022Q3	us-gaap	Stockholders Equity StockholdersEquity	3578000	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	2371000	usd
CY2022Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	4123000	usd
CY2021Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	2943000	usd
CY2022Q3	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	468000	usd
CY2021Q3	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	374000	usd
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	1357000	usd
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	869000	usd
CY2022Q3	us-gaap	Marketing Expense MarketingExpense	24000	usd
CY2021Q3	us-gaap	Marketing Expense MarketingExpense	61000	usd
	us-gaap	Marketing Expense MarketingExpense	205000	usd
	us-gaap	Marketing Expense MarketingExpense	824000	usd
CY2022Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	384000	usd
CY2021Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	287000	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1138000	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	977000	usd
CY2022Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	-876000	usd
CY2021Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	-722000	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-2700000	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-2670000	usd
CY2022Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	20000	usd
CY2021Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-8000	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	56000	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-26000	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	-856000	usd
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	-730000	usd
	us-gaap	Net Income Loss NetIncomeLoss	-2644000	usd
	us-gaap	Net Income Loss NetIncomeLoss	-2696000	usd
CY2022Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.01
CY2021Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.01
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.04
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.04
CY2022Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	68720970	shares
CY2021Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	64601649	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	67186877	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	62613802	shares
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	2371000	usd
	us-gaap	Stock Issued During Period Value Other StockIssuedDuringPeriodValueOther	3625000	usd
	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	226000	usd
	us-gaap	Net Income Loss NetIncomeLoss	-2644000	usd
CY2022Q3	us-gaap	Stockholders Equity StockholdersEquity	3578000	usd
CY2020Q4	us-gaap	Stockholders Equity StockholdersEquity	1401000	usd
	us-gaap	Stock Issued During Period Value Other StockIssuedDuringPeriodValueOther	3377000	usd
	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	1206000	usd
	us-gaap	Net Income Loss NetIncomeLoss	-2696000	usd
CY2021Q3	us-gaap	Stockholders Equity StockholdersEquity	3288000	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	3885000	usd
CY2022Q3	us-gaap	Stock Issued During Period Value Other StockIssuedDuringPeriodValueOther	425000	usd
CY2022Q3	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	124000	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	-856000	usd
CY2022Q3	us-gaap	Stockholders Equity StockholdersEquity	3578000	usd
CY2021Q2	us-gaap	Stockholders Equity StockholdersEquity	3879000	usd
CY2021Q3	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	139000	usd
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	-730000	usd
CY2021Q3	us-gaap	Stockholders Equity StockholdersEquity	3288000	usd
	us-gaap	Net Income Loss NetIncomeLoss	-2644000	usd
	us-gaap	Net Income Loss NetIncomeLoss	-2696000	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	226000	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	1161000	usd
	us-gaap	Depreciation Depreciation	10000	usd
	us-gaap	Depreciation Depreciation	3000	usd
	IRME	Increase Decrease In Accrued Financial Expenses IncreaseDecreaseInAccruedFinancialExpenses	18000	usd
	IRME	Increase Decrease In Accrued Financial Expenses IncreaseDecreaseInAccruedFinancialExpenses	-3000	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	16000	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-109000	usd
	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	-154000	usd
	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	-240000	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-2596000	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-1660000	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	48000	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	22000	usd
	us-gaap	Payments To Acquire Restricted Certificates Of Deposit PaymentsToAcquireRestrictedCertificatesOfDeposit	9000	usd
	us-gaap	Payments To Acquire Restricted Certificates Of Deposit PaymentsToAcquireRestrictedCertificatesOfDeposit	12000	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-57000	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-34000	usd
	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	3625000	usd
	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	3377000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	3625000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	3377000	usd
	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	-1000	usd
	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	1000	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	971000	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	1684000	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	2815000	usd
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	1866000	usd
CY2022Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	3786000	usd
CY2021Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	3550000	usd
	us-gaap	Nature Of Operations NatureOfOperations	<p id="xdx_801_eus-gaap--NatureOfOperations_zcFJ54rtOWE6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1 – <span id="xdx_82A_zIzvzCxHFE0d">General</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description of Business</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IR-Med, Inc. (OTC QB: IRME, hereinafter: the “Company”) was incorporated in Nevada in 2007 and is a holding company. IR-Med Inc.’s was previously named International Display Advertising Inc, and changed its name to IR-Med Inc. in January 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 24, 2020 IR-Med Inc. entered into a stock exchange agreement (hereinafter: the “Stock Exchange Agreement” or the “Reverse Acquisition”) with an Israeli company, IR. Med Ltd. (hereinafter: the “Subsidiary”) which was founded in May 2013. Under the Stock Exchange Agreement, IR. Med Ltd. became a wholly owned subsidiary of IR-Med, Inc. pursuant to a share exchange transaction among IR Med, Inc., IR. Med Ltd. and the former shareholders of IR. Med Ltd.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The registered office of Company and the corporate headquarters and research facility of the Subsidiary are located in Rosh Pina, Israel.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is a development stage medical device company developing its technology through its Subsidiary and is utilizing Infra-Red light spectroscopy (IR) combined with Artificial Intelligence (AI) technology platform to develop non-invasive devices for various medical indications, by detecting and measuring various biomarkers and molecules in the blood and in human tissue in real-time. The initial product candidates which are currently in various stages of development are non-invasive, user friendly and designed to address the medical needs of large and growing target patient groups by offering earlier and more accurate information for detection, which is expected to reduce healthcare expenses and reducing the widespread reliance on antibiotics administration, and other interventional options optimizing the delivery of the targeted medical services and, as a result, improving the efficacy and safety of administered treatments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is in its development stage and does not expect to generate significant revenue until such time as it shall have completed the design and development of its initial product candidates and obtained the requisite approvals to market the product. During the nine months ended September 30, 2022, the Company incurred losses of $<span id="xdx_90C_eus-gaap--NetIncomeLoss_iN_pn3n3_di_c20220101__20220930_zbxCojfqxvOf" title="Net losses">2,644</span> thousand and had a negative cash flow from operating activities of $<span id="xdx_901_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn3n3_di_c20220101__20220930_zgYP41Rj4x63" title="Cash flow from operating activities net">2,596</span> thousand. The accumulated deficit as of September 30, 2022 is $<span id="xdx_904_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn3n3_di_c20220930_zIEKItLNFHTd" title="Accumulated deficit">7,840</span> thousand.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management’s plans regarding these matters include continued development and marketing of its products, as well as seeking additional financing arrangements. In April 2022, the Company raised $<span id="xdx_904_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn3n3_c20220401__20220430__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zFvDaFvRmXb4" title="Raising from private placement">3,200</span> thousand from the private placement, in addition, During July 2022 the Company entered into Subscription Agreements with four Investors under the 2022 Offering on the same terms and conditions specified above where the Company issued <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20220701__20220731__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zUZPhYwjn8ek" title="Number of common stock shares issued">482,957</span> shares of its common stock at a per share price of $<span id="xdx_908_eus-gaap--SharesIssuedPricePerShare_iI_c20220731__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zkVGoZyS0AU4" title="Common stock price per share">0.88</span> and warrants to purchase up to an additional <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20220731__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zgOf8VcNaIe2" title="Warrants to purchase of common stock, shares">482,957</span> shares of common stock at a per share exercise price of $<span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20220731__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zLLXcMz0kuB5" title="Warrants exercise price per share">1.10</span>. The Company received aggregate gross proceeds of $<span id="xdx_907_eus-gaap--ProceedsFromWarrantExercises_c20220701__20220731__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zUuFvpsan6e1" title="Gross proceeds from warrant exercise">425,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company Managements believes that its current cash resources are sufficient for its operations for the next 12 months.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"/></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In March 2020, the World Health Organization declared the coronavirus (COVID-19) outbreak a global pandemic. To date, the impact of the pandemic on the Company’s operations has been mainly limited to a temporary office closure in the context of a government-mandated general lockdown that had no significant impact on operations. Based on the information in its possession, the Company estimates that as of the date of approval of the financial statement, the Covid-19 pandemic is not expected to affect the Company’s operations. However, the Company is unable to assess with certainty the extent of future impact, in part due to the uncertainty regarding the duration of the Covid-19 pandemic, its force and its effects on the markets in which the Company operates and additional measures that the government may adopt.</span></td></tr> </table>
	us-gaap	Net Income Loss NetIncomeLoss	-2644000	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-2596000	usd
CY2022Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-7840000	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	226000	usd
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0.000	pure
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum	0.8277	pure
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum	1.4257	pure
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum	0.0017	pure
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum	0.0263	pure
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0	pure
CY2022Q3	us-gaap	Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1 ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1	0.64
CY2022Q2	us-gaap	Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1 ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1	0.88

Files In Submission

Name	View Source	Status
form10-q_htm.xml	Edgar Link	completed
0001493152-22-031938-index-headers.html	Edgar Link	pending
0001493152-22-031938-index.html	Edgar Link	pending
0001493152-22-031938.txt	Edgar Link	pending
0001493152-22-031938-xbrl.zip	Edgar Link	pending
ex10-1.htm	Edgar Link	pending
ex31-1.htm	Edgar Link	pending
ex31-2.htm	Edgar Link	pending
ex32-1.htm	Edgar Link	pending
ex32-2.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
form10-q.htm	Edgar Link	pending
irme-20220930.xsd	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
R17.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
irme-20220930_cal.xml	Edgar Link	unprocessable
irme-20220930_lab.xml	Edgar Link	unprocessable
irme-20220930_pre.xml	Edgar Link	unprocessable
irme-20220930_def.xml	Edgar Link	unprocessable
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

Create your account

Find Stocks Worth Researching

Deeply Understand Businesses

Value Businesses Intelligently

$IRME
IR-Med, Inc. Stock $irme

2022 Q4 Form 10-Q Financial Statement

#000149315222031938 Filed on November 14, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$IRME IR-Med, Inc. Stock $irme

2022 Q4 Form 10-Q Financial Statement

#000149315222031938 Filed on November 14, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$IRME
IR-Med, Inc. Stock $irme