$RAPH
Raphael Pharmaceutical Inc.

2024 Q1 Form 10-K Financial Statement

#000121390024027234 Filed on March 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $379.0K $569.0K
YoY Change 232.46% -51.7%
% of Gross Profit
Depreciation & Amortization $0.00 $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $379.0K $569.0K
YoY Change 232.46% -51.7%
Operating Profit -$547.0K -$1.272M
YoY Change 112.02% -61.65%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$3.000K -$12.00K
YoY Change -50.0% -70.73%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$550.0K -$1.284M
YoY Change 108.33% -61.76%
Net Earnings / Revenue
Basic Earnings Per Share $0.03 $0.07
Diluted Earnings Per Share $0.03 $0.07
COMMON SHARES
Basic Shares Outstanding 18.66M shares 18.10M shares 16.72M shares
Diluted Shares Outstanding 18.62M shares 16.72M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $287.0K $230.0K
Short-Term Investments
Other Short-Term Assets $63.00K $107.0K
YoY Change -43.24% 148.84%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $350.0K $337.0K
YoY Change 134.9% 1.81%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $3.000K $2.000K
YoY Change 200.0% 0.0%
TOTAL ASSETS
Total Short-Term Assets $350.0K $337.0K
Total Long-Term Assets $3.000K $2.000K
Total Assets $353.0K $339.0K
YoY Change 135.33% 1.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $456.0K $72.00K
YoY Change 186.79% -68.28%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $456.0K $72.00K
Total Long-Term Liabilities
Total Liabilities
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$7.860M -$7.310M
YoY Change 24.98% 21.33%
Common Stock $7.757M $7.577M
YoY Change 4748.13% 4726.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$103.0K -$267.0K
YoY Change
Total Liabilities & Shareholders Equity $353.0K $339.0K
YoY Change 135.33% 1.8%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$550.0K -$1.284M
YoY Change 108.33% -61.76%
Depreciation, Depletion And Amortization $0.00 $0.00
YoY Change -100.0%
Cash From Operating Activities -$172.0K -$1.203M
YoY Change -56.89% 58.5%
INVESTING ACTIVITIES
Capital Expenditures $1.000K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.000K
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 $230.0K $1.145M
YoY Change 54.36% 27.79%
NET CHANGE
Cash From Operating Activities -$172.0K -$1.203M
Cash From Investing Activities -$1.000K
Cash From Financing Activities $230.0K $1.145M
Net Change In Cash $57.00K -$58.00K
YoY Change -122.8% -142.96%
FREE CASH FLOW
Cash From Operating Activities -$172.0K -$1.203M
Capital Expenditures $1.000K
Free Cash Flow -$173.0K -$1.203M
YoY Change -56.64% 58.08%

Facts In Submission

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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1:-</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GENERAL</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.75in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</span></td> <td> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Raphael Pharmaceutical Inc (formerly Easy Energy, Inc.) (the “Company”) was incorporated under the laws of the State of Nevada on May 17, 2007. The Company is headquartered in Tel Aviv-Jaffa, Israel. From April 1, 2011 until December 31, 2019, the Company was not active.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 8, 2020, the Company and its stockholders entered into a Share Exchange Agreement (the “Share Exchange”) with an Israeli pharmaceutical company (“Raphael”), according to which, among other matters, all shareholders of Raphael will sell and convey the entire holdings in Raphael to the Company such that following the Share Exchange, the shareholders of Raphael will hold 90% of the issued and outstanding common stock of the Company, and the existing shareholders of the Company will hold the remaining 10% of the issued and outstanding common stock.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 14, 2021, the Company’s board of directors and stockholders approved a 1-for-100 reverse split of the Company’s common stock, which was implemented and became effective as of May 14, 2021. The reverse split combined each one hundred (100) shares of the Company’s issued and outstanding Common stock into one share of common stock. No fractional shares were issued in connection with the reverse split, and any fractional shares resulting from the reverse split were rounded up to the nearest whole share.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 14, 2021, Raphael and the Company, completed the Share Exchange pursuant to which 9,459,253 common stock were issued to the shareholders of Raphael so that they became the holders of 90% of the issued and outstanding common stock of the Company immediately after the Share Exchange while the Company’s shareholders hold, following the Share Exchange, 1,051,028 common stock which represents 10% of the Company. On May 19, 2021, as agreed by the parties to the Share Exchange, the Company changed its name to Raphael Pharmaceutical Inc. Following such Share Exchange, Raphael’s activities are the sole activities of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Share Exchange was accounted for as a reverse recapitalization which is outside the scope ASC 805, “Business Combinations” (“ASC 805”), as the Company, the legal acquirer, is considered a non-operating public shell, and is therefore not a business as defined in ASC 805. As the shareholders of Raphael received the largest ownership interest in the Company, Raphael was determined to be the “accounting acquirer” in the Share Exchange. As a result, the historical financial statements of the Company were replaced with the financial statement of Raphael for all periods presented.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Company’s common stock began public trading on the over-the-counter market in the U.S. in January 2023 under the symbol “RAPH”.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p></td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Going concern and management plans</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The accompanying consolidated financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Since its inception, the Company has devoted substantially all of its efforts to research and development, clinical trials, and raising capital. The Company is still in its development and pre-clinical stage and has not yet generated revenues. The extent of the Company’s future operating losses and the timing of becoming profitable are uncertain. As of December 31, 2023, the Company’s accumulated deficit was $7,310, the net loss for the year then ended was $1,284 and the net cash used in operating activities was $1,203.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company has funded its operations to date primarily through equity financing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Additional funding will be required to complete the Company’s research and development and clinical trials, to attain regulatory approvals, to begin the commercialization efforts of the Company’s product and to achieve a level of sales adequate to support the Company’s cost structure. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify">Management’s plans include, but are not limited to, raising capital in the United States. There can be no assurance that it will be able to successfully raise additional financing, including in a public offering, or obtain additional financing on a timely basis or on terms acceptable to the Company, or at all.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Management expects that the Company will continue to generate losses from the development, clinical development and regulatory activities of its product, which will result in negative cash flow from operating activity. This has led management to conclude that substantial doubt about the Company’s ability to continue as a going concern exists in the event that additional funding does not occur. If such sufficient financing is not received timely, the Company will not have sufficient cash flows and liquidity to finance its business operations as currently contemplated and would then need to pursue a plan to license its assets, seek to be acquired by another entity, cease operations and/or seek bankruptcy protection. The Company’s consolidated financial statements do not reflect any adjustments that might result from the outcome of this uncertainty.</p>
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CY2023 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="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use of estimate in preparation of the consolidated financial statements:</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company evaluates on an ongoing basis its assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements, and the reported amounts of expenses during the reporting periods. Actual results could differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p>
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1284000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3358000 usd
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16716905 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14341518 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2023Q4 us-gaap Other Receivables
OtherReceivables
100000 usd
CY2023Q4 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
7000 usd
CY2022Q4 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
38000 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
5000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
107000 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
43000 usd
CY2023Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
9000 usd
CY2022Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
72000 usd
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
25000 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
152000 usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
34000 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
224000 usd
CY2022Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
1000 usd
CY2023 raph Milestone Payment1
MilestonePayment1
1400000 usd
CY2023 raph Net Sales Percenage
NetSalesPercenage
0.06 pure
CY2023 raph Total Cost Description
TotalCostDescription
Total cost of the new study will be $800 + $160 (overhead) + VAT (which consist of $700 + VAT pre-clinical lab research cost, $120 + VAT Mouse model for systemic inflammation and $140 + VAT Mouse model for Rheumatoid Arthritis).
CY2023Q4 raph Payment To Companies
paymentToCompanies
120000 usd
CY2023 us-gaap Public Utilities Approved Equity Capital Structure Percentage
PublicUtilitiesApprovedEquityCapitalStructurePercentage
0.03 pure
CY2023 raph Cash Payment
CashPayment
100000 usd
CY2023 us-gaap Line Of Credit Facility Commitment Fee Percentage
LineOfCreditFacilityCommitmentFeePercentage
0.15 pure
CY2023Q1 raph Remaining Services Fee
RemainingServicesFee
20000 usd
CY2019Q2 raph Remaining Services Fee
RemainingServicesFee
10000 usd
CY2023 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
1.12
CY2023Q4 us-gaap Liabilities Subject To Compromise Early Contract Termination Fees
LiabilitiesSubjectToCompromiseEarlyContractTerminationFees
360000 usd
CY2023Q4 us-gaap Compensation And Benefits Trust
CompensationAndBenefitsTrust
12000 usd
CY2023Q1 us-gaap Compensation And Benefits Trust
CompensationAndBenefitsTrust
6000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1000000 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1000000 shares
CY2022Q2 raph Shares Issued1
SharesIssued1
70000 shares
CY2022Q2 raph Purchase Warrants
PurchaseWarrants
100000 shares
CY2022Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.5
CY2022Q2 us-gaap Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
550000 usd
CY2022Q2 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
70000 usd
CY2022Q2 raph Shares Issued1
SharesIssued1
250000 shares
CY2022Q2 raph Purchase Warrants
PurchaseWarrants
100000 shares
CY2022Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.13
CY2022Q2 raph Companys Service Provider Consideration Of Past Services
CompanysServiceProviderConsiderationOfPastServices
250000 usd
CY2022Q2 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P2Y
CY2022Q2 raph Company Raised Amount
CompanyRaisedAmount
50000 usd
CY2022Q2 raph Shares Issued1
SharesIssued1
35000 shares
CY2022Q2 raph Shares Issued1
SharesIssued1
280000 shares
CY2022Q2 raph Purchase Warrants
PurchaseWarrants
105000 shares
CY2022Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.12
CY2022Q2 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
290000 usd
CY2022Q3 raph Shares Issued1
SharesIssued1
100500 shares
CY2022Q3 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
100000 usd
CY2022Q3 raph Shares Issued1
SharesIssued1
102000 shares
CY2022Q3 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
100000 usd
CY2022Q4 raph Company Raised Amount
CompanyRaisedAmount
50000 usd
CY2022Q4 raph Shares Issued1
SharesIssued1
50000 shares
CY2022Q4 raph Purchase Warrants
PurchaseWarrants
50000 shares
CY2022Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.4
CY2022Q4 raph Shares Issued1
SharesIssued1
90000 shares
CY2022Q4 us-gaap Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
90000 shares
CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
100000 usd
CY2022Q4 raph Company Raised Amount
CompanyRaisedAmount
100000 usd
CY2022Q4 raph Shares Issued1
SharesIssued1
80000 shares
CY2022Q4 raph Purchase Warrants
PurchaseWarrants
20000 shares
CY2022Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.5
CY2022Q4 raph Company Raised Amount
CompanyRaisedAmount
20000 usd
CY2022 raph Purchase Warrants
PurchaseWarrants
47250 shares
CY2022Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.25
CY2022Q4 raph Company Raised Amount
CompanyRaisedAmount
7500 usd
CY2022Q4 raph Purchase Warrants
PurchaseWarrants
18000 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.25
CY2023Q1 raph Shares Issued1
SharesIssued1
255750 shares
CY2023Q1 raph Company Raised Amount
CompanyRaisedAmount
250000 usd
CY2023Q1 raph Purchase Warrants
PurchaseWarrants
100000 shares
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.13
CY2023Q1 raph Company Raised Amount
CompanyRaisedAmount
117 usd
CY2023Q1 us-gaap Investments
Investments
250000 usd
CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
117000 shares
CY2023Q1 raph Purchase Warrants
PurchaseWarrants
100000 shares
raph Company Raised Amount
CompanyRaisedAmount
190000 usd
CY2023Q2 raph Shares Issued1
SharesIssued1
164378 shares
CY2023Q2 raph Investor Transferred Amount
InvestorTransferredAmount
123000 usd
CY2023Q2 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
200000 usd
CY2023Q3 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
480000 usd
CY2023Q2 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
123000 usd
CY2023Q3 raph Company Raised Amount
CompanyRaisedAmount
50000 usd
CY2023Q3 raph Shares Issued1
SharesIssued1
100000 shares
CY2023Q3 us-gaap Common Stocks Including Additional Paid In Capital Net Of Discount
CommonStocksIncludingAdditionalPaidInCapitalNetOfDiscount
180000 usd
CY2023Q3 raph Investor Transferred Amount
InvestorTransferredAmount
180000 usd
CY2023Q4 raph Investor Transferred Amount
InvestorTransferredAmount
113000 usd
CY2023Q4 raph Shares Issued1
SharesIssued1
200500 shares
CY2023Q4 us-gaap Common Stocks Including Additional Paid In Capital Net Of Discount
CommonStocksIncludingAdditionalPaidInCapitalNetOfDiscount
100000 usd
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
2307000 shares
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
270000 usd
CY2023 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
250000 usd
CY2023 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
500000 usd
CY2023Q4 us-gaap Related Party Deposit Liabilities
RelatedPartyDepositLiabilities
290000 usd
CY2023 us-gaap Related Party Tax Expense Due To Affiliates Current
RelatedPartyTaxExpenseDueToAffiliatesCurrent
0.006 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.21 pure
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2525000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.80 pure
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
5765000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
3200000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1275000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
727000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1275000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
727000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-1284000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-3358000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
705000 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-270000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-705000 usd
CY2023 us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
1569000 usd
CY2022 us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
1178000 usd
CY2023 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
703000 usd
CY2022 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2139000 usd
CY2023 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-12000 usd
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-41000 usd
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14341518 shares
CY2023 us-gaap Depreciation
Depreciation
usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
usd
CY2022 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
usd
CY2022 raph Issuance Of Shares For Past Services
IssuanceOfSharesForPastServices
usd
CY2023 us-gaap Stock Issued1
StockIssued1
usd
CY2023 raph Non Cash Issuance Costs
NonCashIssuanceCosts
usd
CY2022 raph Exercise Of Warrants Note7bb
ExerciseOfWarrantsNote7bb
usd
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14341518 shares
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
CY2022Q4 us-gaap Other Receivables
OtherReceivables
usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2023 dei Amendment Flag
AmendmentFlag
false
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001415397
CY2023 dei No Trading Symbol Flag
NoTradingSymbolFlag
true
CY2023 dei Security Exchange Name
SecurityExchangeName
NONE

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