2023 Q1 Form 10-K Financial Statement

#000149315223009519 Filed on March 29, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $747.0K $1.534M $2.877M
YoY Change 98.67% 27.53%
% of Gross Profit
Research & Development $605.0K $528.0K $1.885M
YoY Change 26.83% 32.84%
% of Gross Profit
Depreciation & Amortization $4.000K $0.00 $10.00K
YoY Change 33.33% 100.0%
% of Gross Profit
Operating Expenses $1.352M $2.062M $4.762M
YoY Change 58.5% 29.58%
Operating Profit -$1.352M -$4.762M
YoY Change 58.5% 29.58%
Interest Expense $2.000K -$28.00K $28.00K
YoY Change -168.29%
% of Operating Profit
Other Income/Expense, Net $2.000K $28.00K
YoY Change -50.0% -168.29%
Pretax Income -$1.350M -$2.090M $4.734M
YoY Change 27.4%
Income Tax
% Of Pretax Income
Net Earnings -$1.350M -$2.090M -$4.734M
YoY Change 59.01% 27.4%
Net Earnings / Revenue
Basic Earnings Per Share -$0.02 -$0.07
Diluted Earnings Per Share -$0.02 -$0.03 -$0.07
COMMON SHARES
Basic Shares Outstanding 68.81M shares 68.72M shares 67.58M shares
Diluted Shares Outstanding 68.83M shares 67.58M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.103M $3.002M $3.002M
YoY Change 6.64%
Cash & Equivalents $2.103M $3.002M $3.002M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $12.00K
Receivables $56.00K $55.00K $55.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.159M $3.057M $3.057M
YoY Change 6.07% 6.07%
LONG-TERM ASSETS
Property, Plant & Equipment $67.00K $71.00K $226.0K
YoY Change 129.03% 629.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.00K $11.00K $11.00K
YoY Change -63.33%
Total Long-Term Assets $214.0K $237.0K $237.0K
YoY Change 288.52% 288.52%
TOTAL ASSETS
Total Short-Term Assets $2.159M $3.057M $3.057M
Total Long-Term Assets $214.0K $237.0K $237.0K
Total Assets $2.373M $3.294M $3.294M
YoY Change 11.93% 11.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $468.0K $500.0K $151.0K
YoY Change 19.84%
Accrued Expenses $132.0K $299.0K
YoY Change -5.71% 11.15%
Deferred Revenue
YoY Change
Short-Term Debt $159.0K $162.0K $162.0K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $627.0K $662.0K $662.0K
YoY Change 67.59% 67.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $26.00K $40.00K $40.00K
YoY Change
Total Long-Term Liabilities $26.00K $40.00K $40.00K
YoY Change -77.4% -77.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $627.0K $662.0K $662.0K
Total Long-Term Liabilities $26.00K $40.00K $40.00K
Total Liabilities $653.0K $702.0K $702.0K
YoY Change 22.73% 22.73%
SHAREHOLDERS EQUITY
Retained Earnings -$11.28M -$9.930M
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 $1.720M $2.592M $2.592M
YoY Change
Total Liabilities & Shareholders Equity $2.373M $3.294M $3.294M
YoY Change 11.93% 11.93%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$1.350M -$2.090M -$4.734M
YoY Change 59.01% 27.4%
Depreciation, Depletion And Amortization $4.000K $0.00 $10.00K
YoY Change 33.33% 100.0%
Cash From Operating Activities -$900.0K -$779.0K -$3.375M
YoY Change 19.36% 35.98%
INVESTING ACTIVITIES
Capital Expenditures $2.000K $50.00K
YoY Change 61.29%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$9.000K
YoY Change -70.0%
Cash From Investing Activities -$2.000K -$59.00K
YoY Change -3.28%
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 3.84%
NET CHANGE
Cash From Operating Activities -$900.0K -779.0K -$3.375M
Cash From Investing Activities -2.000K -$59.00K
Cash From Financing Activities 0.000 $3.625M
Net Change In Cash -$899.0K -781.0K $187.0K
YoY Change -80.3%
FREE CASH FLOW
Cash From Operating Activities -$900.0K -$779.0K -$3.375M
Capital Expenditures $2.000K $50.00K
Free Cash Flow -$900.0K -$781.0K -$3.425M
YoY Change 17.65% 36.29%

Facts In Submission

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<p id="xdx_801_eus-gaap--NatureOfOperations_zoqmdYq0Mw03" 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"><b>Note 1 - <span id="xdx_826_zoCWmz1Xs4Z5">General</span></b></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; 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; text-align: justify"><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; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></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 “Parent Company”) was incorporated in Nevada in 2007. IR-Med Inc. 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">The registered office of IR-Med, Inc. and the corporate headquarters and research facility of IR. Med Ltd. are located in Rosh Pina, Israel. The Parent Company and the Subsidiary are at times collectively referred to as the “Company”.</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"><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"><b>Going Concern </b></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; background-color: white"><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 the Company shall have completed the design and development of its initial product candidate and obtained the requisite approvals to market the product. During the year ended December 31, 2022, the Company has incurred losses of US$<span id="xdx_90F_eus-gaap--NetIncomeLoss_iN_pn3n3_di_c20220101__20221231_zc65xq3FUYd1" title="Net losses">4,734</span> thousand and had a negative cash flow from operating activities of US$ <span id="xdx_90F_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn3n3_di_c20220101__20221231_z95TwKHoP6m2" title="Cash flow from operating activities net">3,375</span> thousand. The accumulated deficit as of December 31, 2022 is US$ <span id="xdx_90B_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn3n3_di_c20221231_zC4yTuYl9nWd" title="Accumulated deficit">9,930</span> thousand.</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; 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">Management’s plans regarding these matters include continued development and marketing of its products, as well as seeking additional financing arrangements. Between April and July 2022, the Company raised $<span id="xdx_903_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn3n3_c20220401__20220731__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zgkHKlzpKNMi" title="Raising from private placement">3,625</span> thousand from the private placement of its common stock at a per share price of $<span id="xdx_90F_eus-gaap--SharesIssuedPricePerShare_iI_c20220731__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zfRGUdeffkSl" title="Common stock price per share">0.88</span> and warrants to purchase up to an additional shares of common stock at a per share exercise price of $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20220731__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zpcf3ijyzX9h" title="Warrants exercise price per share">1.10</span>. Although management continues to pursue these plans, there is no assurance that the Company will be successful in raising the needed capital from revenues or financing on commercially acceptable terms. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Management’s plans regarding these matters include continued development and marketing of its products, as well as seeking additional financing arrangements. As a result of the Company’s financial condition substantial doubt exists that the Company will be able to continue as a going concern for one year from the issuance date of this 2022 Annual Report</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"> </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> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IR-Med, Inc.</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; font-size: 10pt"><b> </b></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; font-size: 10pt"><b/></span></p> <p style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes to the Consolidated Financial Statements </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>
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-4734000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3375000 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-9930000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_845_eus-gaap--UseOfEstimates_zv6BRRR8Y93d" 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> <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>D.</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"><b><span id="xdx_861_zR2QbPYu9fUc">Use of Estimates</span></b></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 0.5in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of expenses during the reporting period. Significant items subject to such estimates and assumptions including fair value of share-based compensation. Actual results could differ from those estimates.</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; font-size: 10pt"/></p>
CY2022 us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_842_eus-gaap--ConcentrationRiskCreditRisk_z2Gy2n9imsF7" 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> <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>L.</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"><b><span id="xdx_868_zUBNPJq27pO2">Concentrations of credit risks</span></b></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 0.5in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Group to concentrations of credit risk consist principally of cash and cash equivalents. Cash and cash equivalents are held in commercial banks in the U.S. and in Israel. Management believes that the financial institution that holds the Group investments have high credit ratings. The Group has no off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other foreign hedging arrangements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; 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"><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: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IR-Med, Inc.</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; font-size: 10pt"><b> </b></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; font-size: 10pt"><b/></span></p> <p style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes to the Consolidated Financial Statements </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> <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"/></p> <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"/></p> <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"><b>Note 2 - Summary of Significant Accounting Policies (Cont’d)</b></span></p>
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CashAndCashEquivalentsAtCarryingValue
3002000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2815000 usd
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1000 usd
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CY2021Q4 IRME Government Institutions
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3000 usd
CY2021Q4 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
3000 usd
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55000 usd
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67000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
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91000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
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41000 usd
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20000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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10000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
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71000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
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31000 usd
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170000 usd
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CY2022Q4 IRME Lessee Operating Lease Incremental Borrowing Yearly Rate
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15000 usd
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155000 usd
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114000 usd
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80000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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40000 usd
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120000 usd
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6000 usd
CY2022Q4 us-gaap Operating Lease Liability
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114000 usd
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65000 usd
CY2021Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
58000 usd
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132000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
140000 usd
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93000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
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129000 usd
CY2022Q4 IRME Accounts Payable Advance From Customers
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50000 usd
CY2022Q4 IRME Accounts Payable Lease Liability
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74000 usd
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83000 usd
CY2021Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
65000 usd
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AccountsPayableOtherCurrent
3000 usd
CY2021Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
3000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
500000 usd
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
395000 usd
CY2022Q4 us-gaap Common Stock Shares Issued
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68808970 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
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68808970 shares
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3525000 usd
us-gaap Payments Of Stock Issuance Costs
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223000 usd
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0.64
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0.64
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13943842 shares
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
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9299547 shares
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
1330000 usd
CY2021 us-gaap Share Based Compensation
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1339000 usd
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0.000 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.000 pure
CY2021Q4 us-gaap Share Price
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0.26
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0.8277 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.4257 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.8277 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.4257 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0018 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.04 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0018 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.017 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021Q4 us-gaap Line Of Credit
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40000
CY2021Q4 us-gaap Line Of Credit
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11000 usd
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CY2022 us-gaap Interest Expense Other
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6000 usd
CY2021 us-gaap Interest Expense Other
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5000 usd
CY2022 IRME Exchange Rate Loss
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-35000 usd
CY2021 IRME Exchange Rate Loss
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35000 usd
CY2022 us-gaap Other Nonoperating Income Expense
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-1000 usd
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-1000 usd
CY2022 us-gaap Nonoperating Income Expense
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28000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
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-4734000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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-3716000 usd
CY2022 IRME Weighted Average Number Of Shares Outstanding Basic Beginning
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64601649 shares
CY2021 IRME Weighted Average Number Of Shares Outstanding Basic Beginning
WeightedAverageNumberOfSharesOutstandingBasicBeginning
53586023 shares
CY2022 IRME Effect Of Shares Issued During Period
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2976085 shares
CY2021 IRME Effect Of Shares Issued During Period
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9524741 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67577734 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63110764 shares
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
27391493 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
16008567 shares
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21 pure
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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1118000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
677000 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
341000 usd
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
218000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
4000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
6000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
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26000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1489000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
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901000 usd
CY2022Q4 IRME Deferred Tax Liabilities Right Of Use Asset
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35000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
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1454000 usd
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
901000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1454000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
901000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1454000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
901000 usd
CY2022Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0 usd
CY2021Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
4569000 usd
CY2021Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2960000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
283000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
80000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
4451000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
3636000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4734000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3716000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4734000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3716000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 IRME Theoretical Tax Benefit
TheoreticalTaxBenefit
-994000 usd
CY2021 IRME Theoretical Tax Benefit
TheoreticalTaxBenefit
-780000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
332000 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
308000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-89000 usd
CY2021 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-77000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
553000 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
580000 usd
CY2022 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
121000 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
77000 usd
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-31000 usd
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
321000 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
580000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
901000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
553000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1454000 usd
CY2022Q4 IRME Accounts Receivables Related Parties Current
AccountsReceivablesRelatedPartiesCurrent
2000 usd
CY2021Q4 IRME Accounts Receivables Related Parties Current
AccountsReceivablesRelatedPartiesCurrent
3000 usd
CY2022Q4 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
60000 usd
CY2021Q4 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
26000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Noncurrent
AccountsPayableAndAccruedLiabilitiesNoncurrent
7000 usd
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Noncurrent
AccountsPayableAndAccruedLiabilitiesNoncurrent
27000 usd
CY2022Q4 IRME Payroll And Related
PayrollAndRelated
16000 usd
CY2021Q4 IRME Payroll And Related
PayrollAndRelated
12000 usd
CY2022Q4 us-gaap Due To Officers Or Stockholders Current And Noncurrent
DueToOfficersOrStockholdersCurrentAndNoncurrent
162000 usd
CY2021Q4 us-gaap Due To Officers Or Stockholders Current And Noncurrent
DueToOfficersOrStockholdersCurrentAndNoncurrent
177000 usd
CY2022 IRME Subcontractors And Professional Expenses Due To Related Party
SubcontractorsAndProfessionalExpensesDueToRelatedParty
461000 usd
CY2021 IRME Subcontractors And Professional Expenses Due To Related Party
SubcontractorsAndProfessionalExpensesDueToRelatedParty
341000 usd
CY2022 IRME Salaries And Related Expenses Due To Related Party
SalariesAndRelatedExpensesDueToRelatedParty
651000 usd
CY2021 IRME Salaries And Related Expenses Due To Related Party
SalariesAndRelatedExpensesDueToRelatedParty
374000 usd
CY2022 IRME Stock Based Compensation Due To Related Party
StockBasedCompensationDueToRelatedParty
1105000 usd
CY2021 IRME Stock Based Compensation Due To Related Party
StockBasedCompensationDueToRelatedParty
794000 usd
CY2022 IRME Rent And Maintenances
RentAndMaintenances
51000 usd
CY2021 IRME Rent And Maintenances
RentAndMaintenances
51000 usd
CY2022 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
6000 usd
CY2021 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
5000 usd

Files In Submission

Name View Source Status
irme-20221231_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
0001493152-23-009519-index-headers.html Edgar Link pending
0001493152-23-009519-index.html Edgar Link pending
0001493152-23-009519.txt Edgar Link pending
0001493152-23-009519-xbrl.zip 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
ex4-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
fin_001.jpg Edgar Link pending
form10-k.htm Edgar Link pending
irme-20221231.xsd Edgar Link pending
MetaLinks.json Edgar Link pending
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irme-20221231_cal.xml Edgar Link unprocessable
irme-20221231_def.xml Edgar Link unprocessable
irme-20221231_pre.xml Edgar Link unprocessable
form10-k_htm.xml Edgar Link completed
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