2022 Q4 Form 20-F Financial Statement

#000121390023017628 Filed on March 06, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q2 2022 Q1
Revenue $1.537M $967.9K $1.350M
YoY Change -99.79% -99.93%
Cost Of Revenue $1.071M $651.2K
YoY Change -99.77% -99.9%
Gross Profit $466.0K $316.8K
YoY Change -99.84% -99.95%
Gross Profit Margin 30.32% 32.73%
Selling, General & Admin $1.488M $1.957M
YoY Change -99.69% -99.44%
% of Gross Profit 319.34% 617.66%
Research & Development $371.5K $650.4K
YoY Change -99.88% -99.84%
% of Gross Profit 79.71% 205.32%
Depreciation & Amortization $12.96K $4.250K
YoY Change -99.51% -99.82%
% of Gross Profit 2.78% 1.34%
Operating Expenses $1.860M $2.607M
YoY Change -99.76% -99.65%
Operating Profit -$1.394M -$2.290M
YoY Change -99.72% -96.71%
Interest Expense -$21.04K $16.54K
YoY Change -99.99% -100.45%
% of Operating Profit
Other Income/Expense, Net $16.54K
YoY Change
Pretax Income -$1.415M -$2.274M
YoY Change -99.81% -96.89%
Income Tax
% Of Pretax Income
Net Earnings -$1.415M -$2.274M
YoY Change -99.81% -96.89%
Net Earnings / Revenue -92.04% -234.9%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.18 -$321.6K
COMMON SHARES
Basic Shares Outstanding 7.999M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $222.0K $346.9K
YoY Change -71.72% -99.57%
Cash & Equivalents $222.0K $346.9K
Short-Term Investments
Other Short-Term Assets $9.084M $11.04M
YoY Change -20.42%
Inventory $981.7K $533.2K
Prepaid Expenses
Receivables $1.606M $634.0K
Other Receivables $359.6K $579.7K
Total Short-Term Assets $12.25M $13.13M
YoY Change -98.73% -99.1%
LONG-TERM ASSETS
Property, Plant & Equipment $283.8K $770.0K
YoY Change -98.28% -95.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $190.3K $192.4K
YoY Change -99.98% -99.95%
Total Long-Term Assets $1.110M $962.4K
YoY Change -99.9% -99.76%
TOTAL ASSETS
Total Short-Term Assets $12.25M $13.13M
Total Long-Term Assets $1.110M $962.4K
Total Assets $13.36M $14.10M
YoY Change -99.34% -99.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.083M $493.1K
YoY Change -99.77% -99.88%
Accrued Expenses $316.9K $0.00
YoY Change -99.94% -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $10.58K
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $1.811M $1.110M
YoY Change -99.91% -99.9%
LONG-TERM LIABILITIES
Long-Term Debt $1.088M
YoY Change -99.94%
Other Long-Term Liabilities $867.9K $929.0K
YoY Change -99.86% -99.82%
Total Long-Term Liabilities $1.956M $2.017M
YoY Change -99.92% -99.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.811M $1.110M
Total Long-Term Liabilities $1.956M $2.017M
Total Liabilities $3.767M $3.127M
YoY Change -99.91% -99.91%
SHAREHOLDERS EQUITY
Retained Earnings -$8.193M
YoY Change 81.89%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.597M $10.97M
YoY Change
Total Liabilities & Shareholders Equity $13.36M $14.10M
YoY Change -99.34% -99.24%

Cashflow Statement

Concept 2022 Q4 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.415M -$2.274M
YoY Change -99.81% -96.89%
Depreciation, Depletion And Amortization $12.96K $4.250K
YoY Change -99.51% -99.82%
Cash From Operating Activities -$1.907M -$2.950M
YoY Change -98.37% -99.61%
INVESTING ACTIVITIES
Capital Expenditures $219.8K -$64.74K
YoY Change -154.94% -99.14%
Acquisitions
YoY Change
Other Investing Activities $2.002M -$11.02M
YoY Change -112.79% 89.81%
Cash From Investing Activities $1.782M -$11.09M
YoY Change -111.1% -17.1%
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 14.37M
YoY Change -100.0% -98.34%
NET CHANGE
Cash From Operating Activities -1.907M -2.950M
Cash From Investing Activities 1.782M -11.09M
Cash From Financing Activities 0.000 14.37M
Net Change In Cash -124.9K 331.3K
YoY Change -99.88% -99.66%
FREE CASH FLOW
Cash From Operating Activities -$1.907M -$2.950M
Capital Expenditures $219.8K -$64.74K
Free Cash Flow -$2.127M -$2.885M
YoY Change -98.18% -99.62%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
206404 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-5245 usd
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
3327 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
49126 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
54371 usd
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51044 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
255530 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
49126 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
54371 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
16882 usd
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
15372 usd
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
56148 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
8686 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
154 usd
CY2020 us-gaap Interest Paid Net
InterestPaidNet
4 usd
CY2020 mtek Conversion Of Longterm Liabilities To Shareholders To Ordinary Shares
ConversionOfLongtermLiabilitiesToShareholdersToOrdinaryShares
1078808 usd
CY2021 mtek Noncash Deferred Issuance Cost
NoncashDeferredIssuanceCost
249564 usd
CY2022 us-gaap Stock Issued1
StockIssued1
412299 usd
CY2022 mtek Working Capital Deficit
WorkingCapitalDeficit
10400000 usd
CY2021 mtek Working Capital Deficit
WorkingCapitalDeficit
1000000 usd
CY2022Q4 us-gaap Cumulative Earnings Deficit
CumulativeEarningsDeficit
8200000 usd
CY2021Q4 us-gaap Cumulative Earnings Deficit
CumulativeEarningsDeficit
4500000 usd
CY2022 mtek Operating Activity
OperatingActivity
4900000 usd
CY2021 mtek Operating Activity
OperatingActivity
900000 usd
CY2022Q1 us-gaap Preferred Units Issued
PreferredUnitsIssued
4244048 shares
CY2022Q1 mtek Warrants To Purchase Ordinary Shares
WarrantsToPurchaseOrdinaryShares
4244048 shares
CY2022Q1 us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
1350000 usd
CY2022Q1 us-gaap Other Ownership Interests Offering Costs
OtherOwnershipInterestsOfferingCosts
1350000 usd
CY2022Q1 mtek Repaid Liabilities
RepaidLiabilities
1400000 usd
CY2022Q2 mtek Repaid Liabilities
RepaidLiabilities
1400000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="text-align: left; width: 0%"/><td style="width: 0.5in; text-align: left"><b>B.</b></td><td style="text-align: left"><b>Estimates and assumptions</b></td> </tr></table><p style="text-align: left; margin-top: 0; margin-bottom: 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left">The preparation of the financial statements in conformity with U.S GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during reported period. Actual results may differ from those estimates. As applicable for these financial statements, the most significant estimates and assumptions related to revenue recognition, and valuation of inventories.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2021 us-gaap Related Parties Amount In Cost Of Sales
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871171 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
20758 usd
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
9879 usd
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
8930 usd
CY2022 mtek Cost Incurred
CostIncurred
-3220 usd
CY2021 mtek Cost Incurred
CostIncurred
-5850 usd
CY2022 mtek Expense Recognized
ExpenseRecognized
7511 usd
CY2021 mtek Expense Recognized
ExpenseRecognized
16729 usd
CY2020 mtek Expense Recognized
ExpenseRecognized
949 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
25049 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
20758 usd
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
9879 usd
CY2022 mtek Ultimate Settlement
UltimateSettlement
0.50 pure
CY2022Q4 mtek Severance Pay Expenses
SeverancePayExpenses
61169 usd
CY2021Q4 mtek Severance Pay Expenses
SeverancePayExpenses
31356 usd
CY2020Q4 mtek Severance Pay Expenses
SeverancePayExpenses
22247 usd
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify"> <td style="text-align: left; width: 0in"/><td style="width: 0.5in; text-align: left"><b>R.</b></td><td style="text-align: left"><b>Concentrations of credit or business risk</b></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash equivalents, bank deposits, trade receivables and trade payables.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">Cash equivalents and bank deposits are invested mainly in NIS and U.S. dollars with major banks in Israel. Management believes that the financial institutions that hold the Company’s investments are financially sound and, accordingly, minimal credit risk exists with respect to these investments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">Most of the Company’s trade receivables are derived from sales to large and financially secure organizations. In determining the adequacy of the allowance, management bases its opinion, inter alia, on the estimated risks, current market conditions and in reliance on available information with respect to the debtor’s financial position. See Note 10 for a discussion of the Company’s major customers.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.25in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">The Company acquires certain component parts for its products from market leading suppliers that are single source manufacturers. In order to mitigate the risk and as a redundant solution, the Company designs similar products based on component parts from different suppliers.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt"> </p>
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
221961 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
785 usd
CY2022Q4 us-gaap Certificates Of Deposit At Carrying Value
CertificatesOfDepositAtCarryingValue
33569 usd
CY2021Q4 us-gaap Certificates Of Deposit At Carrying Value
CertificatesOfDepositAtCarryingValue
48341 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
255530 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
49126 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
530444 usd
CY2022Q4 us-gaap Federal Home Loan Bank Advances Interest Rate
FederalHomeLoanBankAdvancesInterestRate
0.011 pure
CY2021Q4 us-gaap Federal Home Loan Bank Advances Interest Rate
FederalHomeLoanBankAdvancesInterestRate
0.003 pure
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
551774 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
212736 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
429955 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
178748 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
981729 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
391484 usd
CY2022 us-gaap Other Expenses
OtherExpenses
11856 usd
CY2021 us-gaap Other Expenses
OtherExpenses
0 usd
CY2020 us-gaap Other Expenses
OtherExpenses
22957 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
533673 usd
CY2022Q4 mtek Customer Advances
CustomerAdvances
144076 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
43089 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14916 usd
CY2022Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
148712 usd
CY2022Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
125282 usd
CY2021Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
17684 usd
CY2022 us-gaap Lease Cost
LeaseCost
317083 usd
CY2021 us-gaap Lease Cost
LeaseCost
32600 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
33293 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16089 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
283790 usd
CY2021Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
16511 usd
CY2022 us-gaap Depreciation
Depreciation
17211 usd
CY2021 us-gaap Depreciation
Depreciation
5056 usd
CY2020 us-gaap Depreciation
Depreciation
3525 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
357188 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
191004 usd
CY2022Q4 us-gaap Extended Product Warranty Accrual Current
ExtendedProductWarrantyAccrualCurrent
25049 usd
CY2021Q4 us-gaap Extended Product Warranty Accrual Current
ExtendedProductWarrantyAccrualCurrent
20758 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
172818 usd
CY2022Q4 mtek Government Authorities
GovernmentAuthorities
28429 usd
CY2021Q4 mtek Government Authorities
GovernmentAuthorities
45603 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
727560 usd
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
791038 usd
CY2022 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
391916 shares
CY2022 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
111371 usd
CY2022 mtek Total Research And Development Income
TotalResearchAndDevelopmentIncome
345347 ils
CY2022 mtek Total Research And Development Income
TotalResearchAndDevelopmentIncome
98138 usd
CY2021Q4 mtek Loan Amount
LoanAmount
200000 usd
CY2021Q4 us-gaap Short Term Debt Interest Rate Increase
ShortTermDebtInterestRateIncrease
0.04 pure
CY2021Q4 us-gaap Loans Payable To Bank Current
LoansPayableToBankCurrent
1105438 usd
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
360669 usd
CY2021Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
744769 usd
CY2022 us-gaap Loan Portfolio Expense
LoanPortfolioExpense
11244 usd
CY2021 us-gaap Loan Portfolio Expense
LoanPortfolioExpense
50582 usd
CY2020 us-gaap Loan Portfolio Expense
LoanPortfolioExpense
47560 usd
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
1200000 usd
CY2021Q4 us-gaap Loans Payable To Bank
LoansPayableToBank
410324 usd
CY2021Q2 us-gaap Line Of Credit
LineOfCredit
400000 ils
CY2021Q2 us-gaap Line Of Credit
LineOfCredit
121501 usd
CY2022Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
0 ils
CY2021Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
154427 ils
CY2022Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
49655 usd
CY2021Q4 us-gaap Deferred Compensation Arrangement With Individual Cash Award Granted Amount
DeferredCompensationArrangementWithIndividualCashAwardGrantedAmount
1600000 usd
CY2022Q4 us-gaap Grants Receivable Current
GrantsReceivableCurrent
285204 usd
CY2022 us-gaap Payments For Royalties
PaymentsForRoyalties
7301 usd
CY2022 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
1314024 shares
CY2022Q4 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
373408 usd
CY2022Q4 us-gaap Grants Receivable
GrantsReceivable
246449 usd
CY2022 us-gaap Revenues
Revenues
2504896 usd
CY2021 us-gaap Revenues
Revenues
2075755 usd
CY2020 us-gaap Revenues
Revenues
987883 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
237982 usd
CY2022 mtek Unsatisfied Performance Obligation
UnsatisfiedPerformanceObligation
90122 usd
CY2021 mtek Unsatisfied Performance Obligation
UnsatisfiedPerformanceObligation
130000 usd
CY2022 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
2504937 usd
CY2021 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
2075755 usd
CY2020 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
987883 usd
CY2022 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
3688346 usd
CY2021 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
824224 usd
CY2020 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
640343 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7528038 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3464470 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2483988 shares
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.49
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2022Q4 mtek Options To Purchase Ordinary Share
OptionsToPurchaseOrdinaryShare
205269 shares
CY2022Q4 mtek Warrant Shares
WarrantShares
5001432 shares
CY2021Q4 mtek Warrant Shares
WarrantShares
379772 shares
CY2022Q4 mtek Total Potentially Dilutive Securitie
TotalPotentiallyDilutiveSecuritie
5206700 shares
CY2021Q4 mtek Total Potentially Dilutive Securitie
TotalPotentiallyDilutiveSecuritie
379772 shares
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
4.2
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.199
CY2022Q1 mtek Pre Funded Warrants
PreFundedWarrants
488324 shares
CY2022Q1 us-gaap Share Price
SharePrice
0.001
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
185023 shares
CY2022Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
5.25
CY2022Q1 us-gaap Other Underwriting Expense
OtherUnderwritingExpense
1350000 usd
CY2022Q1 us-gaap Deferred Offering Costs
DeferredOfferingCosts
1350000 usd
CY2022 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
489812 shares
CY2022Q4 mtek Underwriters Warrants
UnderwritersWarrants
185023 shares
CY2022 mtek Fair Value Adjustment Of Underwriters
FairValueAdjustmentOfUnderwriters
199825 usd
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
400472 shares
CY2022Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
4.2
CY2022Q4 mtek Provision Of Warrants
ProvisionOfWarrants
75000 usd
CY2022Q3 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
180409 shares
CY2022Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
180356 shares
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
118 usd
CY2021Q1 mtek Aggregate Of Preferred Shares
AggregateOfPreferredShares
489812 shares
CY2021Q1 mtek Aggregate Gross Proceed
AggregateGrossProceed
1500000 usd
CY2021Q1 mtek Warrants Received
WarrantsReceived
1 pure
CY2021Q1 mtek Purchase Of Ordinary Share
PurchaseOfOrdinaryShare
1 pure
CY2021Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
6.1248
CY2022 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
274294 usd
CY2021Q1 mtek Percentage Of Gross Proceeds
PercentageOfGrossProceeds
0.05 pure
CY2022 mtek Consideration Amount
ConsiderationAmount
75000 usd
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.2
CY2022 mtek Warrants Issued
WarrantsIssued
28194 usd
CY2021Q3 us-gaap Conversion Of Stock Description
ConversionOfStockDescription
the Company’s general meeting of shareholders approved a reverse share split of the Ordinary Shares and the Preferred Shares, at a ratio of 4:1 (four-to-one), so that holders of Ordinary Shares and Preferred Shares will receive one Ordinary Share and one Preferred Share, respectively, for every four Ordinary Shares and Preferred Shares held as of such date rounded to the nearest number (with 0.5 share rounded up), and to adopt an amendment to the Company’s Articles of Association to effectuate such reverse stock split.
CY2022Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1000000 usd
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsMethodUsed
$274,294
CY2021 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
77551 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.5582 pure
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0169 pure
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y2M8D
CY2022Q1 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
3.12
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
6.1248
CY2022 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
60454 usd
CY2021Q3 mtek Aggregate Of Ordinary Shares
AggregateOfOrdinaryShares
285422 shares
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
Out of the total amount of 285,422, options to purchase an aggregate of 201,427 Ordinary Shares were approved on June 27, 2021 and options to purchase an aggregate of 83,995 Ordinary Shares were approved during July 2021.
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
the Company issued the following options under the SOP: (i) options to purchase an aggregate of 71,496 Ordinary Shares to the former chairman of the Company’s board of directors, which options were exercisable for a period of five years from their date of issuance, at a price of $4.20 per Ordinary Share, and vest 8.33% at the end of each three month period of continuous services to the Company. The fair value of this grant was $90,085 calculated using the Black Scholes model; (ii) options to purchase an aggregate of 10,000 Ordinary Shares and options to purchase an aggregate of 2,500 Ordinary Shares to two of the Company’s directors, which options are exercisable for a period of five years from their date of issuance, at a price of $4.20 per Ordinary Share, and vest 6.25% at the end of each three month period of continuous services to the Company. The fair value of this grant was $15,750 calculated using the Black Scholes model; and (iii) options to purchase an aggregate of 169,588 Ordinary Shares to certain employees and consultants, which options are exercisable for a period of five years from their date of issuance, at a price of $4.20 per Ordinary Share, and will vest 50% on February 4, 2024 and thereafter 6.25% every three months period of continuous services to the Company. The fair value of this grant was $191,634 calculated using the Black Scholes model. Upon the end of term of the service agreement with Mr. Joseph Weiss in December 2022, options to purchase an aggregate of 53,622 Ordinary Shares were forfeited and returned to the pool.
CY2022Q2 mtek Vest Percentage
VestPercentage
0.0625 pure
CY2022Q2 mtek Fair Value Grant Amount
FairValueGrantAmount
10204 usd
CY2022Q4 mtek Vest Percentage
VestPercentage
0.0625 pure
CY2022 mtek Fair Value Grant Amount
FairValueGrantAmount
188 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
287922 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
53622 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
4.2
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
4.2
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
234300 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
20218 shares
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
4.2
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P0Y8M12D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2021Q2 us-gaap Related Party Transaction Description Of Transaction
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the Company entered into a loan facility agreement (as amended on June 30, 2021 the “Loan Facility Agreement”), effective as of January 1, 2021, with Mr. Bar and Mr. Gottlieb. Pursuant to the Loan Facility Agreement, the outstanding amount under the Loan Facility Agreement to be paid to Mr. Bar in a total amount of approximately NIS 2,459,959 (approximately $770,879) and to Mr. Gottlieb, in a total amount of approximately NIS 1,020,347 (approximately $317,371), bear no interest and shall be due and payable in 24 equal monthly payments, commencing on the second anniversary following completion of an initial public offering. Pursuant to the Loan Facility Agreement, if an initial public offering is not completed by December 31, 2021, then the outstanding amount shall be repaid pursuant to the available free cash of the Company, taking into account expected expenditures in the three months following partial or full payment, and in any event not prior to December 31, 2022. The Company also agreed to reimburse Mr. Bar and Mr. Gottlieb for any costs and expenses incurred in connection with the enforcement of the Loan Facility Agreement, if required. The agreement was accounted for as a modification with no change to the book value of the loan. As of December 31, 2022 the outstanding amount under the Loan Facility Agreement is $1,088,250. The loans were classified within long term liabilities.
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2021Q4 us-gaap Common Stock Value
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Files In Submission

Name View Source Status
mtek-20221231_cal.xml Edgar Link unprocessable
mtek-20221231_def.xml Edgar Link unprocessable
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