2024 Q1 Form 10-Q Financial Statement
#000149315224018877 Filed on May 13, 2024
Income Statement
| Concept | 2024 Q1 | 2023 Q1 |
|---|---|---|
| Revenue | $0.00 | $0.00 |
| YoY Change | ||
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $463.0K | $747.0K |
| YoY Change | -38.02% | 98.67% |
| % of Gross Profit | ||
| Research & Development | $195.0K | $605.0K |
| YoY Change | -67.77% | 26.83% |
| % of Gross Profit | ||
| Depreciation & Amortization | $9.000K | $4.000K |
| YoY Change | 125.0% | 33.33% |
| % of Gross Profit | ||
| Operating Expenses | $658.0K | $1.352M |
| YoY Change | -51.33% | 58.5% |
| Operating Profit | -$658.0K | -$1.352M |
| YoY Change | -51.33% | 58.5% |
| Interest Expense | $1.000K | $2.000K |
| YoY Change | -50.0% | |
| % of Operating Profit | ||
| Other Income/Expense, Net | $1.000K | $2.000K |
| YoY Change | -50.0% | -50.0% |
| Pretax Income | -$657.0K | -$1.350M |
| YoY Change | -51.33% | |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$657.0K | -$1.350M |
| YoY Change | -51.33% | 59.01% |
| Net Earnings / Revenue | ||
| Basic Earnings Per Share | -$0.01 | -$0.02 |
| Diluted Earnings Per Share | -$0.01 | -$0.02 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 69.93M shares | 68.81M shares |
| Diluted Shares Outstanding | 69.93M shares | 68.83M shares |
Balance Sheet
| Concept | 2024 Q1 | 2023 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $408.0K | $2.103M |
| YoY Change | -80.6% | |
| Cash & Equivalents | $408.0K | $2.103M |
| Short-Term Investments | ||
| Other Short-Term Assets | ||
| YoY Change | ||
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $55.00K | $56.00K |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $463.0K | $2.159M |
| YoY Change | -78.55% | |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $47.00K | $67.00K |
| YoY Change | -29.85% | |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $11.00K | $11.00K |
| YoY Change | 0.0% | |
| Total Long-Term Assets | $116.0K | $214.0K |
| YoY Change | -45.79% | |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $463.0K | $2.159M |
| Total Long-Term Assets | $116.0K | $214.0K |
| Total Assets | $579.0K | $2.373M |
| YoY Change | -75.6% | |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $505.0K | $468.0K |
| YoY Change | 7.91% | |
| Accrued Expenses | ||
| YoY Change | ||
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $159.0K |
| YoY Change | -100.0% | |
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $505.0K | $627.0K |
| YoY Change | -19.46% | |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $160.0K | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $26.00K | |
| YoY Change | ||
| Total Long-Term Liabilities | $160.0K | $26.00K |
| YoY Change | 515.38% | |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $505.0K | $627.0K |
| Total Long-Term Liabilities | $160.0K | $26.00K |
| Total Liabilities | $665.0K | $653.0K |
| YoY Change | 1.84% | |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$15.50M | -$11.28M |
| YoY Change | 37.38% | |
| Common Stock | $69.00K | $68.00K |
| YoY Change | 1.47% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | -$86.00K | $1.720M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $579.0K | $2.373M |
| YoY Change | -75.6% |
Cashflow Statement
| Concept | 2024 Q1 | 2023 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$657.0K | -$1.350M |
| YoY Change | -51.33% | 59.01% |
| Depreciation, Depletion And Amortization | $9.000K | $4.000K |
| YoY Change | 125.0% | 33.33% |
| Cash From Operating Activities | -$358.0K | -$900.0K |
| YoY Change | -60.22% | 19.36% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | ||
| YoY Change | ||
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | |
| YoY Change | ||
| Cash From Investing Activities | ||
| 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 | ||
| YoY Change | ||
| NET CHANGE | ||
| Cash From Operating Activities | -$358.0K | -$900.0K |
| Cash From Investing Activities | ||
| Cash From Financing Activities | ||
| Net Change In Cash | -$359.0K | -$899.0K |
| YoY Change | -60.07% | |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$358.0K | -$900.0K |
| Capital Expenditures | ||
| Free Cash Flow | -$900.0K | |
| YoY Change | 17.65% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2023Q1 | IRME |
Research And Development Expense Government Participation
ResearchAndDevelopmentExpenseGovernmentParticipation
|
usd | |
| CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
408000 | usd |
| CY2024Q1 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
55000 | usd |
| CY2024Q1 | us-gaap |
Assets Current
AssetsCurrent
|
463000 | usd |
| CY2024Q1 | IRME |
Long Term Restricted Deposit
LongTermRestrictedDeposit
|
11000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
58000 | usd |
| CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
47000 | usd |
| CY2024Q1 | us-gaap |
Assets Noncurrent
AssetsNoncurrent
|
116000 | usd |
| CY2024Q1 | us-gaap |
Assets
Assets
|
579000 | usd |
| CY2024Q1 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
505000 | usd |
| CY2024Q1 | IRME |
Stockholders Loans
StockholdersLoans
|
160000 | usd |
| CY2024Q1 | us-gaap |
Liabilities
Liabilities
|
665000 | usd |
| CY2024Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2024Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
250000000 | shares |
| CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
250000000 | shares |
| CY2024Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
69931056 | shares |
| CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
69931056 | shares |
| CY2024Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
69000 | usd |
| CY2024Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
15341000 | usd |
| CY2024Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-15496000 | usd |
| CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-86000 | usd |
| CY2024Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
579000 | usd |
| CY2024Q1 | IRME |
Research And Development Expenses Incurred
ResearchAndDevelopmentExpensesIncurred
|
375000 | usd |
| CY2023Q1 | IRME |
Research And Development Expenses Incurred
ResearchAndDevelopmentExpensesIncurred
|
605000 | usd |
| CY2024Q1 | IRME |
Research And Development Expense Government Participation
ResearchAndDevelopmentExpenseGovernmentParticipation
|
-180000 | usd |
| CY2024Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
195000 | usd |
| CY2023Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
605000 | usd |
| CY2024Q1 | us-gaap |
Marketing Expense
MarketingExpense
|
168000 | usd |
| CY2023Q1 | us-gaap |
Marketing Expense
MarketingExpense
|
172000 | usd |
| CY2024Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
295000 | usd |
| CY2023Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
575000 | usd |
| CY2024Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-658000 | usd |
| CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1352000 | usd |
| CY2024Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
1000 | usd |
| CY2023Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
2000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-657000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1350000 | usd |
| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.01 | |
| CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.01 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.02 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.02 | |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
69931056 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
69931056 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
68829424 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
68829424 | shares |
| CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
365000 | usd |
| CY2024Q1 | us-gaap |
Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
|
206000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-657000 | usd |
| CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-86000 | usd |
| CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2592000 | usd |
| CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2592000 | usd |
| CY2023Q1 | us-gaap |
Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
|
478000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1350000 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1720000 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1720000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-657000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1350000 | usd |
| CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
206000 | usd |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
478000 | usd |
| CY2024Q1 | us-gaap |
Depreciation
Depreciation
|
9000 | usd |
| CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
4000 | usd |
| CY2024Q1 | IRME |
Increase Decrease In Accrued Financial Expenses
IncreaseDecreaseInAccruedFinancialExpenses
|
-3000 | usd |
| CY2023Q1 | IRME |
Increase Decrease In Accrued Financial Expenses
IncreaseDecreaseInAccruedFinancialExpenses
|
6000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-27000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
1000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
54000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
-25000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-358000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-900000 | usd |
| CY2024Q1 | 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 |
| CY2023Q1 | 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 |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-359000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-899000 | usd |
| CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
767000 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
3002000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
408000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2103000 | usd |
| CY2024Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_80C_eus-gaap--NatureOfOperations_z7lJaH3PWMn1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1 - <span id="xdx_82F_zpVmlD3POBmc">General</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><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="width: 0.5in"> </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> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><b>Description of Business</b></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span> <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-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span> <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 IR. Med Ltd. (Hereinafter: the “Subsidiary”) are at times collectively referred to as the “Company”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><span style="background-color: white">On April 9, 2024, the </span><span style="background-color: white">C</span><span style="background-color: white">ompany’s first device, the P<i>ressureSafe</i>,</span> <span style="background-color: white">decision support device received a U.S. Food and Drug Administration (FDA) listing certification. <i>PressureSafe</i> is classified as a Class I device. Following the listing certification of the <i>PressureSafe </i>device, </span><span style="background-color: white"><span style="background-color: white">the</span></span> Company has started the preparations <span style="background-color: white">for </span> the commercial launch of its first device, the <i>PressureSafe. </i>The Company is developing its technology through its Subsidiary and is utilizing Infra-Red-light spectroscopy (IR) combined with an 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 reduce the widespread reliance on antibiotics administration, and other interventional options optimizing the delivery of targeted medical services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">On January 25, 2024, the Israel Innovation Authority (the “IIA”) approved the Company’s proposed program to develop a device for the early detection of diabetic foot ulcers among diabetic patients, with a project budget of NIS <span id="xdx_903_ecustom--PatientBudget_iI_uNIS_c20240125_zvUbVtsupuAg" title="Project budget">3,761,978</span> (approximately $<span id="xdx_909_ecustom--PatientBudget_iI_c20240125_zxspWR791UI6" title="Project budget">1,030,000</span>), which includes an amount equal to <span id="xdx_90A_ecustom--GrantTotalBudgetDisbursedInstallment_dp_uPure_c20240125__20240125_zLcokpxarJ9g" title="Total budget">50</span>% grant of the total budget provided at the time of the grant, disbursed in installments over the course of 13 months, in accordance with the project’s progress. In consideration for the grant by the IIA, the subsidiary is required to pay royalties at the rate of <span id="xdx_90D_ecustom--PrepaidRoyaltiesPercentage_iI_dp_uPure_c20240125__srt--RangeAxis__srt--MinimumMember_z09kkWZ14NB2" title="Pay royalties">3</span>%-<span id="xdx_902_ecustom--PrepaidRoyaltiesPercentage_iI_dp_uPure_c20240125__srt--RangeAxis__srt--MaximumMember_zIHbLfOEowg9" title="Pay royalties">5</span>% from the total sales until the repayment date of the full amount of the grant, plus annual interest at the Secured Overnight Financing Rate (SOFR) rate. In addition, the IIA must approve any arrangement whereby the Company seeks to transfer the technology relating to the project, or its development, from Israel.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"> </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="width: 0.5in"> </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"><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-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company has started the preparations of the commercial launch of its first device, the <i>PressureSafe,</i> but does not expect to generate significant revenue until such time as the Company shall have completed the design and development of its initial products candidates and initiates marketing activities for its commercial product. During the three months ended March 31, 2024, the Company incurred losses of $<span id="xdx_90E_eus-gaap--NetIncomeLoss_iN_pn3n3_di_c20240101__20240331_z8oCXkojp0Hh" title="Net income (loss)">657</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">thousand and had a negative cash flow from operating activities of $<span id="xdx_908_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn3n3_di_c20240101__20240331_zclSlaJ1mWJ2" title="Cash flow from operating activities">358 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">thousand. The accumulated deficit as of March 31, 2024 is $<span id="xdx_909_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn3n3_di_c20240331_z4LQSj8n4Cl3" title="Accumulated deficit">15,496 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">thousand.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Management’s plans regarding these matters include continued development and marketing of the Company’s products, as well as seeking additional financing arrangements. 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 first quarter of 2024 Report.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Following the brutal attacks on Israel, the mobilization of army reserves and the Israeli Government declaring a state of war (the “Iron Swords War”) in October 2023, there has been a decrease in Israel’s economic and business activity. The security situation has led, inter alia, to a disruption in the chain of supply and production, a decrease in the volume of national transportation, a shortage in manpower as well as a decrease in the value of financial assets and a rise in the exchange rate of foreign currencies in relation to the shekel. At this time, the Company has assessed, on the basis of the information it has as of the date of the approval of these financial statements, that the current events and the escalation in security in Israel, may have a material effect on the business plans of the Company in the short term. As a result of the movement and work restrictions in Israel, the Company has begun operating on a limited scale. These restrictions and the shortage in manpower may cause delays in the Company’s research and development activities and in its marketing efforts. In addition, the situation has brought further difficulties in management’s efforts to seek additional financing arrangements. Since this is an event that is not under the control of the Company and matters such as the fighting continuing or stopping may affect the Company’s assessments, as of the reporting date the Company is unable to assess the extent of the effect of the Iron Swords War on its business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
| CY2024Q1 | IRME |
Patient Budget
PatientBudget
|
3761978 | |
| CY2024Q1 | IRME |
Patient Budget
PatientBudget
|
1030000 | usd |
| CY2024Q1 | IRME |
Grant Total Budget Disbursed Installment
GrantTotalBudgetDisbursedInstallment
|
0.50 | pure |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-657000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-358000 | usd |
| CY2024Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-15496000 | usd |
| CY2024Q1 | us-gaap |
Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
|
14096675 | shares |
| CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
13091888 | shares |
| CY2024Q1 | us-gaap |
Share Price
SharePrice
|
0.41 | |
| CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.42 | |
| CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
15544175000 | shares |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
0.32 | |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
1447500000 | shares |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.42 | |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
14096675000 | shares |
| CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
206000 | usd |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
478000 | usd |
| CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
206000 | usd |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
478000 | usd |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.000 | pure |
| CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.000 | pure |
| CY2023Q1 | us-gaap |
Share Price
SharePrice
|
0.53 | |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
1.16 | pure |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
0.84 | pure |
| CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
1.1429 | pure |
| CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
0.9537 | pure |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0361 | pure |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0439 | pure |
| CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0361 | pure |
| CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.04 | pure |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
| CY2021Q2 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
0.64 | |
| CY2022Q3 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
0.88 | |
| CY2023Q2 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
1.00 | |
| CY2023Q2 | us-gaap |
Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
|
2100000 | usd |
