SIGNIFICANT EVENTS DURING THE PERIOD | NOTE 6 - SIGNIFICANT EVENTS DURING THE PERIOD A. On January 1, 2024, the Company engaged with a consultant. For his services he was granted stock option to purchase 2,300,000 34,350 The Options are vested on a monthly basis, over a period of 30 months as of the commencement date ending June 30, 2026. The options are exercisable at a per share exercise price of $ 0.01 B. On January 1, 2024, the Company engaged with an additional consultant. For his services, he was granted a stock option to purchase 600,000 8,961 The Options are vested on a monthly basis, over a period of 30 months as of the Commencement Date ending June 30, 2026. The Option are exercisable at a per share exercise price of $ 0.01 C. On January 1, 2024, the Company engaged with a note holder as a consultant. For his services, he was granted a stock option to purchase 5,000,000 of the Company’s Common Stock, valued at $ 74,675 . Upon grant, the Options vest on a monthly basis, over a period of 12 months as of the Commencement Date ending December 31, 2024. The Option are exercisable at a per share exercise price of $ 0.0001 D. During the first quarter of 2024, the company received an additional investment of $ 456,431 7,500,000 E. On August 11, 2022, a lawsuit was filed in the Tel Aviv Magistrate’s Court against our Chairman and majority shareholder, Boris Molchadsky, G.P.I.S Ltd., an entity controlled by Mr. Molchadsky, Nexsense, Inc. (the former shareholder of SleepX Ltd.) and SleepX, Ltd., our subsidiary (collectively, the “Defendants”) [Civil lawsuit number 25441-08-22]. The suit was filed by a fund operating out of Israel. A copy of the claim was served to the defendants only six months after it was submitted to court, on February 21, 2023. The lawsuit is based on the alleged breach of partnership and loan agreements as well as other related allegations, including violation of agreements reached in a mediation proceeding that took place in 2015. On July 24, 2023, the Defendants (except for Nexsense, Inc.) filed a statement of defense, denying the allegations and argued that the claim should be dismissed, due to the statute of limitations, lack of cause of action, lack of jurisdiction, delay in filing the claim, and respecting SleepX, also due to the lack of legal rivalry between SleepX and the plaintiff. Recently, the Magistrate’s Court in Tel Aviv accepted the request regarding lack of material jurisdiction, and the claim was then transferred to the economic department of the District Court in Tel Aviv. A preliminary hearing was held on February 14, 2024. The presiding judge did not rule on the preliminary pleadings and urged the parties to attempt mediation before the ruling. The parties are considering different mediators (which must be mutually agreed to) and following the selection of a mediator, the parties will schedule a date for the mediation. The Company cannot, at this stage, know the effects, if any, of these actions on its subsidiary SleepX and / or the Company, and accordingly, no provision was recorded. |