CONDENSED INTERIM STATEMENTS OF CASH
FLOWS
(Unaudited)
U.S. dollars
|
Six months ended
June 30, | |||||||
| 2023 | 2022 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
| Net loss | (433,324 | ) | (948,376 | ) | |||
| Adjustments required to reconcile net loss to net cash used in
operating activities - | |||||||
| Depreciation | 10,225 | 8,629 | |||||
| Stock based compensation expenses | 47,991 | 67,424 | |||||
| Interest expenses with respect to funding from Parent Company | 96,883 | - | |||||
| Currency exchange differences with respect to amount due to
the Former Parent Company | - | (243,948 | ) | ||||
| Finance expenses | (3,358 | ) | - | ||||
| Changes in operating assets and liabilities items: | |||||||
| Decrease (increase) in trade receivables | 165,660 | (9,374 | ) | ||||
| Decrease (increase) in other accounts receivable | 72,489 | (97,332 | ) | ||||
| Increase in deferred prospective initial public offering cost | (72,756 | ) | (147,973 | ) | |||
| Increase in inventory | (37,466 | ) | (87,387 | ) | |||
| Decrease in right-of use asset | 24,382 | 24,516 | |||||
| Increase in trade payables | 51,520 | 28,186 | |||||
| Decrease in lease liabilities | (21,024 | ) | (30,592 | ) | |||
| Increase (decrease) in other payables | (150,406 | ) | 34,825 | ||||
| Net cash used in operating activities | (249,184 | ) | (1,401,402 | ) | |||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Purchase of property and equipment | (677 | ) | (8,447 | ) | |||
| (677 | ) | (8,447 | ) | ||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
| Loan from related party | 245,000 | - | |||||
| Cost associated with the conversion of the Former Parent
Company's debt | - | (84,780 | ) | ||||
| Loans from the Former Parent Company | - | 107,994 | |||||
| Proceeds from issuance of SAFEs | - | 1,514,928 | |||||
| 245,000 | 1,538,142 | ||||||
| NET INCREASE (DECREASE) IN CASH | (4,861 | ) | 128,293 | ||||
| CASH AT BEGINNING OF PERIOD | 89,806 | 33,024 | |||||
| CASH AT END OF PERIOD | 84,945 | 161,317 | |||||
