2023 Q4 Form 20-F Financial Statement

#000121390024024822 Filed on March 21, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022 Q4
Revenue $620.5K
YoY Change 10.81%
Cost Of Revenue $476.6K
YoY Change 40.18%
Gross Profit $143.9K
YoY Change -34.59%
Gross Profit Margin 23.19%
Selling, General & Admin $1.961M
YoY Change 90.37%
% of Gross Profit 1362.62%
Research & Development $636.8K
YoY Change -0.5%
% of Gross Profit 442.54%
Depreciation & Amortization $17.09K
YoY Change -14.57%
% of Gross Profit 11.87%
Operating Expenses $2.598M
YoY Change 55.54%
Operating Profit -$2.800M
YoY Change 93.08%
Interest Expense $152.7K
YoY Change -19.61%
% of Operating Profit
Other Income/Expense, Net $210.7K
YoY Change 3.8%
Pretax Income -$3.771M
YoY Change 128.57%
Income Tax
% Of Pretax Income
Net Earnings -$3.771M
YoY Change 128.57%
Net Earnings / Revenue -607.79%
Basic Earnings Per Share $0.77
Diluted Earnings Per Share $0.77
COMMON SHARES
Basic Shares Outstanding 10.07M shares 4.891M shares
Diluted Shares Outstanding 4.891M shares

Balance Sheet

Concept 2023 Q4 2023 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.428M
YoY Change 8153.79%
Cash & Equivalents $7.428M $89.81K
Short-Term Investments
Other Short-Term Assets $651.6K $418.1K $179.5K
YoY Change 262.9% 19.45%
Inventory $264.5K $264.5K $304.8K
Prepaid Expenses $349.6K $59.42K
Receivables $22.38K $22.38K $184.1K
Other Receivables $233.5K
Total Short-Term Assets $8.367M $8.367M $1.049M
YoY Change 697.32% 696.84%
LONG-TERM ASSETS
Property, Plant & Equipment $49.98K $58.11K $41.31K
YoY Change 20.99% -41.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $58.11K $58.11K $98.20K
YoY Change -40.83% -41.89%
TOTAL ASSETS
Total Short-Term Assets $8.367M $8.367M $1.049M
Total Long-Term Assets $58.11K $58.11K $98.20K
Total Assets $8.425M $8.425M $1.148M
YoY Change 634.15% 632.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00 $56.68K
YoY Change 13.36%
Accrued Expenses $490.9K
YoY Change -22.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $755.1K $755.1K $2.382M
YoY Change -68.3% -68.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change -100.0%
Other Long-Term Liabilities $1.565M
YoY Change 15547.7%
Total Long-Term Liabilities $1.565M $1.565M $407.6K
YoY Change 283.93% 281.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $755.1K $755.1K $2.382M
Total Long-Term Liabilities $1.565M $1.565M $407.6K
Total Liabilities $2.320M $2.320M $2.790M
YoY Change -16.84% -16.85%
SHAREHOLDERS EQUITY
Retained Earnings -$1.600M
YoY Change
Common Stock $24.53M $13.01M
YoY Change 88.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.100M $6.105M -$1.642M
YoY Change
Total Liabilities & Shareholders Equity $8.425M $8.425M $1.148M
YoY Change 634.15% 632.6%

Cashflow Statement

Concept 2023 Q4 2023 2022 Q4
OPERATING ACTIVITIES
Net Income -$3.771M
YoY Change 128.57%
Depreciation, Depletion And Amortization $17.09K
YoY Change -14.57%
Cash From Operating Activities -$2.938M
YoY Change 49.15%
INVESTING ACTIVITIES
Capital Expenditures $25.76K
YoY Change 157.57%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$25.76K
YoY Change 157.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $10.30M
YoY Change 405.03%
NET CHANGE
Cash From Operating Activities -$2.938M
Cash From Investing Activities -$25.76K
Cash From Financing Activities $10.30M
Net Change In Cash $7.339M
YoY Change 12131.0%
FREE CASH FLOW
Cash From Operating Activities -$2.938M
Capital Expenditures $25.76K
Free Cash Flow -$2.964M
YoY Change 49.7%

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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022 przo Conversion Of The Former Parent Companys Debt Into Ordinary Shares
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CY2023 przo Benefit To The Company By An Equity Holder With Respect To Funding Transactions
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CY2022 przo Benefit To The Company By An Equity Holder With Respect To Funding Transactions
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CY2022 przo Stock Based Compensation Included As Issuance Costs
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CY2023Q4 us-gaap Stockholders Equity
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CY2023Q3 us-gaap Proceeds From Other Debt
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CY2023Q4 przo Number Of Warrants Issued
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CY2023Q4 przo Number Of Shares
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CY2023 przo Cashless Exercise
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0"><b>A. Use of estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in">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, as well as to disclose contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting years. On an ongoing basis, management evaluates its estimates, judgments and assumptions. Management bases its estimates, judgments and assumptions on historical experience and on various other factors that are believed to be reasonable under the circumstances. Actual results could differ from those estimates.</p>
CY2023 us-gaap Depreciation
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CY2022 us-gaap Depreciation
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CY2021 us-gaap Depreciation
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0"><b>Y. Concentration of Credit Risk</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif">Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents. </span>The Company is exposed to credit risk in the event of default by the financial institutions to the extent of the amounts recorded on the accompanying balance sheets exceed federally insured limits. The Company places its cash and cash equivalents with two financial institutions with high-quality credit ratings in Israel and has not experienced any losses in such accounts.</p>
CY2023Q4 przo Governmental Institution
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CY2023Q4 us-gaap Inventory Finished Goods
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CY2022Q4 us-gaap Inventory Finished Goods
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CY2023Q4 us-gaap Inventory Net
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CY2022Q4 us-gaap Inventory Net
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CY2023 us-gaap Inventory Write Down
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CY2022 us-gaap Inventory Write Down
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CY2023 us-gaap Operating Lease Expense
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CY2022 us-gaap Operating Lease Expense
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47425 usd
CY2021 us-gaap Operating Lease Expense
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q4 us-gaap Operating Lease Liability Current
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CY2022Q4 us-gaap Stock Issued During Period Value Conversion Of Units
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CY2023 przo Percentage Of Discount On Purchase Amount
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0.20 pure
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CY2023Q4 us-gaap Investment Owned Underlying Face Amount At Market Value
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0.25 pure
CY2023Q3 us-gaap Stock Issued During Period Shares Conversion Of Units
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CY2023Q4 us-gaap Customer Advances Current
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CY2022Q4 us-gaap Customer Advances Current
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CY2023Q4 przo Equity Instruments Amount
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CY2023Q4 przo Fair Value Initial Measurement
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CY2023 przo Equity Instruments Amount
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CY2023 us-gaap Stock Issued During Period Value Other
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CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2022Q4 przo Ordinary Per Share
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CY2023 us-gaap Stockholders Equity Reverse Stock Split
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On June 26, 2022, the shareholders of the Company approved a 1-for-2 reverse stock split of the Company’s Ordinary Shares, pursuant to which holders of Ordinary Shares received one Ordinary Share, par value NIS 0.02, for every two ordinary shares, par value NIS 0.01, held before the reverse stock split.
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
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CY2023 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
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CY2023Q4 przo Fair Value Initial Measurement
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CY2023 przo Fair Value Adjustment Of Warrant
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CY2023Q4 us-gaap Derivative Liabilities Noncurrent
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CY2022Q1 us-gaap Asset Acquisition Consideration Transferred
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4200000 usd
CY2023Q2 us-gaap Line Of Credit Facility Increase Decrease For Period Net
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745000 usd
us-gaap Proceeds From Loans
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745000 usd
CY2023Q4 us-gaap Accumulated Capitalized Interest Costs
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7073 usd
CY2022Q4 us-gaap Accumulated Capitalized Interest Costs
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10396 usd
CY2023Q3 przo Line Of Credit Facility Aggregate Initial Amount
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745000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.23 pure
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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3612947 usd
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2693459 usd
CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
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145249 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
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135367 usd
CY2023Q4 przo Deferred Tax Assets Provision For Warranty
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CY2022Q4 przo Deferred Tax Assets Provision For Warranty
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CY2023Q4 przo Deferred Tax Assets Issuance Cost
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CY2023Q4 us-gaap Deferred Tax Assets Gross
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3857998 usd
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2933190 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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3857998 usd
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DeferredTaxAssetsValuationAllowance
2933190 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
15700000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
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12700000 usd
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CY2023 przo Aggregate Rental Payment
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71000 ils
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CY2022Q4 us-gaap Commitments And Contingencies
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CY2022 przo Change In Fair Value Of Convertible Note
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CY2021 przo Change In Fair Value Of Convertible Note
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CY2022 us-gaap Fair Value Adjustment Of Warrants
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CY2021 us-gaap Fair Value Adjustment Of Warrants
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CY2022 przo Issuance Expenses Attributable To Derivative Warrant Liability
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CY2021 przo Issuance Expenses Attributable To Derivative Warrant Liability
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CY2021 us-gaap Interest Expense
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CY2022 us-gaap Earnings Per Share Diluted
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CY2023 us-gaap Earnings Per Share Diluted
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CY2021 us-gaap Earnings Per Share Diluted
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1.71
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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4891071 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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359743 shares
CY2021 us-gaap Share Based Compensation
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CY2021 przo Interest Expenses With Respect To Funding From Related Party
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CY2022 przo Change In Fair Value Of Convertible Loan
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CY2021 przo Change In Fair Value Of Convertible Loan
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CY2022 us-gaap Fair Value Adjustment Of Warrants
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CY2021 us-gaap Fair Value Adjustment Of Warrants
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CY2022 przo Issuance Expenses Attributable To Derivative Warrant Liabilities
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CY2021 przo Issuance Expenses Attributable To Derivative Warrant Liabilities
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CY2021 us-gaap Inventory Write Down
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CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2023 przo Increase Decrease In Deferred Prospective Initial Public Offering Cost
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CY2021 przo Increase Decrease In Deferred Prospective Initial Public Offering Cost
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CY2023 us-gaap Payments Of Debt Issuance Costs
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CY2021 us-gaap Payments Of Debt Issuance Costs
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CY2021 us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
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CY2022 us-gaap Proceeds From Debt Net Of Issuance Costs
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CY2021 us-gaap Proceeds From Debt Net Of Issuance Costs
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CY2022 przo Issuance Of Ordinary Shares Prefunded Warrants And Warrants In Private Placement Net Of Issuan
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CY2021 przo Issuance Of Ordinary Shares Prefunded Warrants And Warrants In Private Placement Net Of Issuan
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CY2021 przo Proceeds From Receipt Of Loan Related Party
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CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
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CY2021 us-gaap Proceeds From Repayments Of Related Party Debt
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CY2023 us-gaap Proceeds From Repayments Of Other Debt
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CY2023 us-gaap Repayments Of Bank Debt
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CY2022 przo Cash Received From Interest
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CY2023 przo Rightofuse Assets Obtained In Exchange For Operating Lease Liabilities
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CY2021 przo Rightofuse Assets Obtained In Exchange For Operating Lease Liabilities
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CY2023 przo Conversion Of The Former Parent Companys Debt Into Ordinary Shares
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CY2021 przo Conversion Of The Former Parent Companys Debt Into Ordinary Shares
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CY2021 przo Benefit To The Company By An Equity Holder With Respect To Funding Transactions
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CY2021 przo Stock Based Compensation Included As Issuance Costs
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CY2021 us-gaap Inventory Write Down
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
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CY2022Q4 us-gaap Derivative Liabilities Noncurrent
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CY2023Q4 us-gaap Deferred Tax Assets Net
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CY2022Q4 us-gaap Deferred Tax Assets Net
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CY2023 us-gaap Open Tax Year
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CY2023 dei Amendment Flag
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false
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001916241

Files In Submission

Name View Source Status
0001213900-24-024822-index-headers.html Edgar Link pending
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