N2OFF (NITO) 10-Q 16 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Aug. 11, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	000-40403
Entity Registrant Name	SAVE FOODS, INC.
Entity Central Index Key	0001789192
Entity Tax Identification Number	26-4684600
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	Kibbutz
Entity Address, City or Town	Alonim
Entity Address, Country	IL
Entity Address, Postal Zip Code	3657700
City Area Code	(347)
Local Phone Number	468 9583
Title of 12(b) Security	Common Stock, Par value $0.0001 per share
Trading Symbol	SVFD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,790,836
Entity Information, Former Legal or Registered Name	n/a

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Current Assets
Cash and cash equivalents	$ 9,305,800	$ 242,900
Restricted cash	22,086	22,395
Accounts receivable, net	54,403	147,941
Inventories	15,236	16,356
Other current assets	706,258	65,579
Total Current assets	10,103,783	495,171
Right of use asset arising from operating lease	6,963	14,700
Property and equipment, net	45,585	55,194
Funds in respect of employee rights upon retirement	118,209	122,584
Total assets	10,274,540	687,649
Current Liabilities
Short-term loan from banking institution	7,928	7,949
Current maturities of convertible loans		56,250
Accounts payable	329,253	203,323
Other liabilities	862,415	517,711
Total current liabilities	1,199,596	785,233
Fair value of convertible component in convertible loans		54,970
Convertible loans		146,929
Long term loan from banking institution	3,995	8,115
Liability for employee rights upon retirement	152,992	157,855
Total liabilities	1,356,583	1,153,102
Stockholders’ Equity
Common stock, par value $ 0.0001 per share (“Common Stocks”): 495,000,000 shares authorized as of June 30, 2021 and December 31, 2020; issued and outstanding 2,776,551 shares as of June 30, 2021 and 1,606,765 shares as of December 31, 2020.	278	161
Preferred stock, par value $ 0.0001 per share (“Preferred stock”): 5,000,000 shares authorized as of June 30, 2021 and December 31, 2020; issued and outstanding 0 shares as of June 30, 2021 and December 31, 2020.
Additional paid-in capital	23,244,172	11,867,585
Foreign currency translation adjustments	(26,275)	(26,275)
Accumulated deficit	(14,251,490)	(12,277,647)
Stockholders' Equity	8,966,685	(436,176)
Non-controlling interests	(48,728)	(29,277)
Total stockholders’ equity (deficit)	8,917,957	(465,453)
Total liabilities and stockholders’ equity (deficit)	$ 10,274,540	$ 687,649

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stocks, par value	$ 0.0001	$ 0.0001
Common stocks, shares authorized	495,000,000	495,000,000
Common stocks, shares issued	2,776,551	1,606,765
Common stocks, shares outstanding	2,776,551	1,606,765
Preferred stocks, par value	$ 0.0001	$ 0.0001
Preferred stocks, shares authorized	5,000,000	5,000,000
Preferred stocks, shares issued	0	0
Preferred stocks, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenues from sales of products		$ 54,403		$ 177,477	$ 63,566
Cost of sales		(11,354)	(4,911)	(14,287)	(25,686)
Gross profit (loss)		43,049	(4,911)	163,190	37,880
Research and development expenses		(226,742)	(95,707)	(296,533)	(253,343)
Selling and marketing expenses		(18,712)	(7,811)	(33,409)	(36,748)
General and administrative expenses		(1,419,736)	(295,297)	(1,672,707)	(513,376)
Operating loss		(1,622,141)	(403,726)	(1,839,459)	(765,587)
Financing income (expenses), net		120,916	(193,149)	(156,061)	(200,351)
Gain on disposal of affiliated company			15,690		15,690
Net loss		(1,501,225)	(581,185)	(1,995,520)	(950,248)
Less: Net loss attributable to non-controlling interests		19,784	4,140	21,677	7,556
Net loss attributable to the Company		$ (1,481,441)	$ (577,045)	$ (1,973,843)	$ (942,692)
Loss per share (basic and diluted)		$ (0.69)	$ (0.40)	$ (1.05)	$ (0.65)
Weighted Average Number of Shares Outstanding, Basic and Diluted	[1]	2,158,915	1,458,598	1,884,365	1,458,598
[1]	Prior periods results have been adjusted to reflect 7 to 1 reverse stock split

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) (Parenthetical)	Feb. 23, 2021
Equity [Abstract]
Reverse stock split	7 to 1 reverse stock split

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Shareholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Proceeds On Account Of Shares Member	Retained Earnings [Member]	Total Company's Stockholders' Equity [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2019	$ 146	$ 10,329,571	$ (26,275)		$ (10,684,508)	$ (381,066)	$ (21,053)	$ (402,119)
Beginning balance, shares at Dec. 31, 2019	1,458,598
Stock based compensation		35,028				35,028	375	35,403
Value of warrant issued in convertible loans		34,696				34,696		34,696
Comprehensive loss					(365,647)	(365,647)	(3,416)	(369,063)
Ending balance, value at Mar. 31, 2020	$ 146	10,399,295	(26,275)		(11,050,155)	(676,989)	(24,094)	(701,083)
Ending balance, shares at Mar. 31, 2020	1,458,598
Beginning balance, value at Dec. 31, 2019	$ 146	10,329,571	(26,275)		(10,684,508)	(381,066)	(21,053)	(402,119)
Beginning balance, shares at Dec. 31, 2019	1,458,598
Comprehensive loss								(950,248)
Ending balance, value at Jun. 30, 2020	$ 146	11,167,539	(26,275)	100,000	(11,627,200)	(385,790)	(26,283)	(412,073)
Ending balance, shares at Jun. 30, 2020	1,458,598
Beginning balance, value at Mar. 31, 2020	$ 146	10,399,295	(26,275)		(11,050,155)	(676,989)	(24,094)	(701,083)
Beginning balance, shares at Mar. 31, 2020	1,458,598
Receipts on account of shares				100,000		100,000		100,000
Stock based compensation		182,313				182,313	1,951	184,264
Conversion of convertible loans		585,931				585,931		585,931
Comprehensive loss					(577,045)	(577,045)	(4,140)	(581,185)
Ending balance, value at Jun. 30, 2020	$ 146	11,167,539	(26,275)	100,000	(11,627,200)	(385,790)	(26,283)	(412,073)
Ending balance, shares at Jun. 30, 2020	1,458,598
Beginning balance, value at Dec. 31, 2020	$ 161	11,867,585	(26,275)		(12,277,647)	(436,176)	(29,277)	(465,453)
Beginning balance, shares at Dec. 31, 2020	1,606,765
Stock based compensation		83,605				83,605	895	84,500
Comprehensive loss					(492,402)	(492,402)	(1,893)	(494,295)
Ending balance, value at Mar. 31, 2021	$ 161	11,951,190	(26,275)		(12,770,049)	(844,973)	(30,275)	(875,248)
Ending balance, shares at Mar. 31, 2021	1,606,765
Beginning balance, value at Dec. 31, 2020	$ 161	11,867,585	(26,275)		(12,277,647)	(436,176)	(29,277)	(465,453)
Beginning balance, shares at Dec. 31, 2020	1,606,765
Comprehensive loss								(1,995,520)
Ending balance, value at Jun. 30, 2021	$ 278	23,244,172	(26,275)		(14,251,490)	8,966,685	(48,728)	8,917,957
Ending balance, shares at Jun. 30, 2021	2,776,551
Beginning balance, value at Mar. 31, 2021	$ 161	11,951,190	(26,275)		(12,770,049)	(844,973)	(30,275)	(875,248)
Beginning balance, shares at Mar. 31, 2021	1,606,765
Stock based compensation		60,227				60,227	1,331	61,558
Issuance of shares, net of issuance costs of $1,542,138	$ 109	10,457,753				10,457,862		10,457,862
Issuance of shares, net of issuance costs of $1,542,138, shares	1,090,909
Conversion of convertible loans	$ 7	648,403				648,410		648,410
Conversion of convertible loans, shares	66,877
Share based compensation for services providers	$ 1	126,599				126,600		126,600
Share based compensation for services providers, shares	12,000
Comprehensive loss					(1,481,441)	(1,481,441)	(19,784)	(1,501,225)
Ending balance, value at Jun. 30, 2021	$ 278	$ 23,244,172	$ (26,275)		$ (14,251,490)	$ 8,966,685	$ (48,728)	$ 8,917,957
Ending balance, shares at Jun. 30, 2021	2,776,551

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders' Deficit (Unaudited) (Parenthetical)	3 Months Ended
	Jun. 30, 2021USD ($)
Common Stock [Member]
Issuance costs, net	$ 1,542,138

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Loss for the period	$ (1,995,520)	$ (950,248)
Adjustments required to reconcile net loss for the period to net cash used in operating activities:
Depreciation and amortization	17,346	25,934
Gain on disposal of affiliated company		(15,690)
Increase (decrease) in liability for employee rights upon retirement	(4,863)	4,332
Stock based compensation	272,658	219,667
Expenses on convertible loans	115,972	141,926
Conversion of convertible loans		57,793
Decrease in accounts receivable	93,538	64,003
Decrease in inventory	1,120	5,035
Increase in other current assets	(680,679)	(30,516)
Increase (decrease) in accounts payable	117,786	(55,428)
Increase in other accounts payable	351,420	64,193
Net cash used in operating activities	(1,711,222)	(468,999)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments on investment in unconsolidated entity		2,480
Decrease (increase) in funds in respect of employee rights upon retirement	4,375	(3,054)
Net cash provided by investing activities	4,375	(574)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from secured promissory notes	274,000	135,000
Proceeds on account of shares		100,000
Repayments of right to use asset arising from operating lease	(6,407)	(17,435)
Repayments of long-term banking institutes	(3,852)	(3,556)
Proceeds from stock issued for cash, net of issuance costs of $1,502,138	10,497,862
Net cash provided by financing activities	10,761,603	214,009
Effect of exchange rate changes on cash and cash equivalents and restricted cash	8,144
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	9,062,900	(255,564)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	242,900	290,815
CASH AND CASH EQUIVALENTS AT END OF PERIOD	9,305,800	35,251
Non cash transactions:
Disposal of affiliated company		5,087
Issuance of warrants in convertible loans		34,696
Conversion of convertible loans	648,410	528,138
Deferred issuance expenses	$ 40,000

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical)	6 Months Ended
	Jun. 30, 2021USD ($)
Statement of Cash Flows [Abstract]
Stock issuance cost	$ 1,502,138

GENERAL

GENERAL	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	NOTE 1 - GENERAL Save Foods, Inc. (the “Company”) was incorporated on April 1, 2009, under the laws of the State of Delaware. On April 27, 2009, the Company acquired from its stockholders 98.48% of the issued and outstanding shares of Save Foods Ltd., an Israeli company, including preferred and Common Stock. Save Foods Ltd. was incorporated in 2004 and commenced its operations in 2005. Save Foods Ltd. develops, produces, and focuses on delivering innovative solutions for the food industry aimed at improving food safety and shelf life of fresh produce. Through May 13, 2021, the Company’s Common Stock was quoted on the OTC, Pink Tier, under the symbol “SAFO”. On May 13, 2021, the Company completed an underwritten public offering of 1,090,909 shares of Common Stock of the Company at a price to the public of $11.00 per share. The gross proceeds to the Company from this offering were $12,000,000 , before deducting underwriting discounts, commissions and other offering expenses, and excluding the exercise of the over-allotment option by the underwriter, which were not exercised. The Company granted the underwriter a 45-day option to purchase up to 163,636 additional shares of Common Stock of the Company to cover over-allotments at the public offering price, less the underwriting discounts and commissions, which was not exercised by the underwriter. In addition, the Company issued to the underwriter as compensation warrants to purchase up to 54,545 shares of Common Stock (5% of the aggregate number of shares of Common Stock sold in this offering exclusive of the over-allotment option, or the underwriter’s warrants). The underwriter’s warrants are exercisable at a per share exercise price equal to 125% of the public offering price per share in the offering, or $ 13.75 The underwriter’s warrants are exercisable at any time and from time to time, in whole or in part, during the four one half year period commencing 180 days from the effective date of the registration statement. Commencing on May 14, 2021, the Company’s Common Stock was initially listed on the Nasdaq Capital Market under the symbol “SVFD”. In March 2020, the World Health Organization declared the coronavirus (COVID-19) outbreak a global pandemic. To date, the impact of the pandemic on the Company’s operations has been mainly limited to a temporary facility closure in the context of a government-mandated general lockdown, which temporary delayed certain development activities. Due to the effects of COVID-19, as of the date of this report, some of Company's employees are on temporary leave without pay (furlough), including Company's Chief Technology Officer, and we have postponed some of our planned field tests due to the current restriction on international travels. However, to date, the Company did not experience any material impact on our financial condition and results of operations due to COVID-19 However, the Company is unable to assess with certainty the extent of future impact, in part due to the uncertainty regarding the duration of the COVID-19 pandemic, its force and its effects on the markets in which the Company operates and the effects of possible government measures to prevent the spread of the virus. Reverse Stock Split On February 23, 2021, the Company amended its Certificate of Incorporation to effect a 7 to 1 reverse stock split As a result of the reverse stock split, every 7 shares of the Company’s outstanding Common Stock prior to the effect of that amendment were combined and reclassified into one share of the Company’s Common Stock. No fractional shares were issued in connection with or following the reverse split. The number of authorized capital of the Company’s Common Stock and par value of the shares remained unchanged. All share, stock option and per share information in these condensed consolidated financial statements have been restated to reflect the stock split on a retroactive basis.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION Unaudited Interim Financial Statements The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiary, prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In the opinion of management, the financial statements presented herein have not been audited by an independent registered public accounting firm but include all material adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of the financial condition, results of operations and cash flows for the three and six-months ended June 30, 2021 and 2020. However, these results are not necessarily indicative of results for any other interim period or for the year ended December 31, 2021. The preparation of financial statements in conformity with U.S. GAAP requires the Company to make certain estimates and assumptions for the reporting periods covered by the financial statements. These estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses. Actual amounts could differ from these estimates. These financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Principles of Consolidation The consolidated financial statements are prepared in accordance with US GAAP. The consolidated financial statements of the Company include the Company and its majority-owned subsidiary. All inter-company balances and transactions have been eliminated. Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, certain revenues and expenses, and disclosure of contingent assets and liabilities as of the date of the financial statements. Actual results could differ from those estimates. As applicable to these financial statements, the most significant estimates and assumptions relate to share based compensation. SAVE FOODS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited) NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION Recent Accounting Pronouncements In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2020-06, “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU 2020-06”). The guidance in ASU 2020-06 simplifies the accounting for convertible debt and convertible preferred stock by removing the requirements to separately present certain conversion features in equity. In addition, the amendments in the ASU 2020-06 also simplify the guidance in ASC Subtopic 815-40, Derivatives and Hedging: Contracts in Entity’s Own Equity, by removing certain criteria that must be satisfied in order to classify a contract as equity, which is expected to decrease the number of freestanding instruments and embedded derivatives accounted for as assets or liabilities. Finally, the amendments revise the guidance on calculating earnings per share, requiring use of the if-converted method for all convertible instruments and rescinding an entity’s ability to rebut the presumption of share settlement for instruments that may be settled in cash or other assets. The amendments in ASU 2020-06 are effective for the Company for fiscal years beginning after December 15, 2021. Early adoption is permitted. The guidance must be adopted as of the beginning of the fiscal year of adoption. The Company is currently evaluating the impact of this new guidance, but does not expect it to have a material impact on its financial statements.

CONVERTIBLE LOANS

CONVERTIBLE LOANS	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
CONVERTIBLE LOANS	NOTE 3 – CONVERTIBLE LOANS On September 21, 2020, the Company entered into a series of convertible loan agreements with certain lenders to sell convertible promissory notes with an aggregate principal amount of $125,000 . The outstanding loan amount of these convertible promissory notes will mature on the earlier of (i) the third anniversary of each such convertible loan agreement or (ii) a deemed liquidation event, and the lenders may convert all or any portion of the convertible promissory notes into shares of Common Stock at any time prior to a mandatory conversion event at a conversion price of $7.63 per share (collectively the “September 2020 CLAs”). During October 2020, the Company entered into a series of additional convertible loan agreements with additional lenders to sell notes with an aggregate principal amount of $100,000 , pursuant to the same terms a set forth in the September 2020 CLAs. During January 2021, the Company entered into a series of additional convertible loan agreements with additional lenders to sell notes with an aggregate principal amount of $274,000 , pursuant to the same terms a set forth in the September 2020 CLAs. As part of the foregoing convertible loan agreements, the Company entered into registration rights agreements with each of the lenders, whereby each lender received piggyback registration rights for the shares of Common Stock issuable upon conversion of the notes. On May 11, 2021 and May 12, 2021, the lenders of the convertible loans agreements utilized their optional conversion, of the entire balance of the convertible promissory notes in the aggregate principal amount of $499,000 and of aggregated accrued interest amount of $11,211 , at a conversion price of $7.63 per share and the Company issued to the lenders an aggregate amount of 66,877 shares of Common Stock following the conversion.

COMMON STOCK

COMMON STOCK	6 Months Ended
	Jun. 30, 2021
Common Stock
COMMON STOCK	NOTE 4 – COMMON STOCK On May 13, 2021, the Company completed an underwritten public offering of 1,090,909 $11.00 On May 15, 2021, the Company signed consulting agreement with a third party according to which the Consultant will provide the Company with investor relations services for a period of 12 months following the commencement date. As consideration for the agreement, the Company will pay the consultant an annual fee of $40,000 and issue the consultant 12,000 shares of Common Stock of the Company. On June 20, 2021, the Company issued 12,000 shares of Common Stock of the Company to the consultant. The Company estimated the value of the shares issue at $126,600 .

STOCK OPTIONS

STOCK OPTIONS	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCK OPTIONS	NOTE 5 – STOCK OPTIONS The following table presents the Company’s stock option activity for employees, directors and consultants of the Company for the six months ended June 30, 2021: SCHEDULE OF STOCK OPTION ACTIVITY Number of Options Weighted Average Exercise Price Outstanding at December 31,2020 206,862 3.37 Granted - - Exercised - - Forfeited or expired - - Outstanding at June 30,2021 206,862 3.37 Number of options exercisable at June 30, 2021 139,543 3.31 The aggregate intrinsic value of the awards outstanding as of June 30, 2021 is $941,627 7.92 Costs incurred in respect of stock-based compensation for employees and directors, for the six months ended June 30, 2021 and 2020 were $146,058 and $219,667 respectively

COMMITMENT AND CONTINGENT LIABI

COMMITMENT AND CONTINGENT LIABILITIES	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENT AND CONTINGENT LIABILITIES	NOTE 6 – COMMITMENT AND CONTINGENT LIABILITIES A. On June 15, 2021, the Company signed consulting agreement with a third party according to which the consultant will provide the Company with public relations services. Based on the agreement the Company will pay the consultant a monthly fee of $3,500 and shall issue the consultant 200 shares of Common Stock of the Company on the final day of each month following the commencement date of the agreement. B. On June 1, 2021, the Company terminated consulting agreements previously executed on October 10, 2018, with two of its consultants and signed new consulting agreements with the same parties. According to the agreements, the consultants shall provide the Company with business development and strategic consulting services including ongoing consulting for the Company, board and management. The agreement shall be effective until terminated by each of the parties by giving a 30 days prior notice. Based on the agreements, the Company agreed to pay each a monthly fee of $13,000 and $2,000 as monthly reimbursement of expenses. In addition, the Company agreed to grant the consultants with signing bonuses in the amounts of $ 150,000 and $ 250,000 net of the outstanding debt of the Company, which was $ 33,000 payable to each consultant. In addition, the Company agreed to pay the consultants 5% of any gain generated by the Company exceeding an initial gain of 25% due to any sale, disposition or exclusive license of activities, securities, business, or similar events initiated by each the Consultants. In addition, each consultant shall be entitled to a special bonus upon the execution of business opportunities or upon other events the consultant assisted with (“Consultant Engagements”), authorized by the CEO or the Chairman of the Board. The special bonus shall not exceed two times each consultant’s monthly fee. As of the date of the financial statements, no such Consultant Engagements were executed.

RELATED PARTIES

RELATED PARTIES	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTIES	NOTE 7 – RELATED PARTIES A. Transactions and balances with related parties SCHEDULE OF TRANSACTIONS AND BALANCES WITH RELATED PARTIES Six months ended June 30 2021 2020 General and administrative expenses: Directors compensation (*) 22,217 228,136 Salaries and fees to officers (*) 70,145 135,339 General and administrative expenses, net 92,362 363,475 (*) share based compensation included in the above 6,533 199,199 Research and development expenses: Salaries and fees to officers - 25,272 Share based compensation - - SAVE FOODS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited) B. Balances with related parties and officers: As of June 30, 2021 2020 Other accounts payables 173,526 258,782 C. Other information: 1. On November 5, 2020, the board of directors of the Company appointed Mr. David Palach, to serve as Chief Executive Officer of the Company, effective as of the same date. In connection with Mr. Palach’s appointment, the parties entered into a Consulting Agreement pursuant to which the Company and Mr. Palach agreed upon, inter alia, the following engagement terms: (a) a monthly fee of $8,000 , and (b) a grant of options to purchase shares of the Company’s Common Stock, which amount shall be determined by the Board on a future date. On June 17, 2021, the Board of Directors of the Company approved an amendment to the compensation of Mr. Palach, according to which he shall be entitled to a monthly fee of $14,000 and reimbursement of expenses of $500 per month. In addition, Mr. Palach shall receive a one-time grant of options to purchase shares of Common Stock of the Company representing 4.5% of the Company’s outstanding share capital as of the date of the approval. The terms of the grant have not yet been determined. 2. On June 17, 2021, the board of directors of the Company approved the compensation of Vered Raz Avayo as its Chief Financial Officer, according to which she shall be entitled to a monthly fee of $8,000 and reimbursement of expenses of $500 per month. In addition, Ms. Raz Avayo shall receive a one-time grant of options to purchase shares of Common Stock of the Company representing 1.5% of the Company’s outstanding share capital as of the date of the approval. The terms of the grant have not yet been determined. 3. On June 17, 2021, the board of directors of the Company approved the compensation of its Chairman of the Board, according to which the Chairman of the Board shall be entitled to a monthly fee of $5,000 . In addition, the Chairman of the Board shall receive a one-time grant of options to purchase shares of Common Stock of the Company representing 1.5% of the Company’s outstanding share capital as of the date of the approval. The terms of the grant have not yet been determined. 4. On June 17, 2021, the board of directors of the Company approved the compensation for each non-executive member of the board, according to which the each such member shall be entitled to an annual fee of NIS 100,000 (approximately $ 30,500 ). In addition, each such member shall receive a one-time grant of options to purchase shares of Common Stock of the Company representing 0.25% of the Company’s outstanding share capital as of the date of the approval. The terms of the grant have not yet been determined.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS On July 1, 2021, the Company and a digital communication consultant signed an Addendum to a certain Service Agreement, previously executed on October 20, 2020 (the “Original Agreement”), according to which the Company agreed to pay the consultant $15,000 as compensation for services rendered pursuant to the Original Agreement and to issue the consultant 14,285 shares of Common Stock of the Company. The Company estimates the value of the shares of Common Stock issued to be $143,279 . In addition, the Company agreed to continue the Original Agreement for a period of an additional six months pursuant to which the consultant will receive a monthly fee of $10,000 . On July 12, 2021, the Company and the Chairman of the Board of Save Foods Ltd. entered into a Separation Agreement and Release according to which the consulting agreement previously executed with the former chairman was terminated effective as of July 8, 2021. According to the Separation Agreement and Release, the Company would pay the amounts accrued to the former chairman under his consulting agreement and in addition the Company compensated the former chairman for the amounts owed to him during the 90 days notice following the termination of the Separation Agreement and Release and accelerate the vesting of all unvested options granted to the former chairman. On August 5, 2021, the Company signed consulting agreement with a third party according to which the Consultant will provide the Company with strategic consulting and digital marketing services for a period of six months commencing on September 1, 2021. As consideration for the agreement, the Company agreed to pay the consultant a total fee of $ 301,000 12,000

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Unaudited Interim Financial Statements	Unaudited Interim Financial Statements The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiary, prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In the opinion of management, the financial statements presented herein have not been audited by an independent registered public accounting firm but include all material adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of the financial condition, results of operations and cash flows for the three and six-months ended June 30, 2021 and 2020. However, these results are not necessarily indicative of results for any other interim period or for the year ended December 31, 2021. The preparation of financial statements in conformity with U.S. GAAP requires the Company to make certain estimates and assumptions for the reporting periods covered by the financial statements. These estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses. Actual amounts could differ from these estimates. These financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements are prepared in accordance with US GAAP. The consolidated financial statements of the Company include the Company and its majority-owned subsidiary. All inter-company balances and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, certain revenues and expenses, and disclosure of contingent assets and liabilities as of the date of the financial statements. Actual results could differ from those estimates. As applicable to these financial statements, the most significant estimates and assumptions relate to share based compensation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2020-06, “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU 2020-06”). The guidance in ASU 2020-06 simplifies the accounting for convertible debt and convertible preferred stock by removing the requirements to separately present certain conversion features in equity. In addition, the amendments in the ASU 2020-06 also simplify the guidance in ASC Subtopic 815-40, Derivatives and Hedging: Contracts in Entity’s Own Equity, by removing certain criteria that must be satisfied in order to classify a contract as equity, which is expected to decrease the number of freestanding instruments and embedded derivatives accounted for as assets or liabilities. Finally, the amendments revise the guidance on calculating earnings per share, requiring use of the if-converted method for all convertible instruments and rescinding an entity’s ability to rebut the presumption of share settlement for instruments that may be settled in cash or other assets. The amendments in ASU 2020-06 are effective for the Company for fiscal years beginning after December 15, 2021. Early adoption is permitted. The guidance must be adopted as of the beginning of the fiscal year of adoption. The Company is currently evaluating the impact of this new guidance, but does not expect it to have a material impact on its financial statements.

STOCK OPTIONS (Tables)

STOCK OPTIONS (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
SCHEDULE OF STOCK OPTION ACTIVITY	The following table presents the Company’s stock option activity for employees, directors and consultants of the Company for the six months ended June 30, 2021: SCHEDULE OF STOCK OPTION ACTIVITY Number of Options Weighted Average Exercise Price Outstanding at December 31,2020 206,862 3.37 Granted - - Exercised - - Forfeited or expired - - Outstanding at June 30,2021 206,862 3.37 Number of options exercisable at June 30, 2021 139,543 3.31

RELATED PARTIES (Tables)

RELATED PARTIES (Tables)	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
SCHEDULE OF TRANSACTIONS AND BALANCES WITH RELATED PARTIES	SCHEDULE OF TRANSACTIONS AND BALANCES WITH RELATED PARTIES Six months ended June 30 2021 2020 General and administrative expenses: Directors compensation (*) 22,217 228,136 Salaries and fees to officers (*) 70,145 135,339 General and administrative expenses, net 92,362 363,475 (*) share based compensation included in the above 6,533 199,199 Research and development expenses: Salaries and fees to officers - 25,272 Share based compensation - - SAVE FOODS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited) B. Balances with related parties and officers: As of June 30, 2021 2020 Other accounts payables 173,526 258,782

GENERAL (Details Narrative)

GENERAL (Details Narrative) - USD ($)	May 13, 2021	Feb. 23, 2021	Jun. 30, 2021	Apr. 27, 2009
Subsidiary, Sale of Stock [Line Items]
Equity Method Investment, Ownership Percentage				98.48%
Stock Issued During Period, Shares, New Issues	1,090,909
Share issued price per share	$ 11		$ 7.92
Proceeds from Issuance Initial Public Offering	$ 12,000,000
Option to purchase common stock	163,636
Warrant description	In addition, the Company issued to the underwriter as compensation warrants to purchase up to
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	54,545
Reverse stock split		7 to 1 reverse stock split
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Share issued price per share	$ 13.75

CONVERTIBLE LOANS (Details Narr

CONVERTIBLE LOANS (Details Narrative) - USD ($)	May 12, 2021	Jan. 31, 2021	Oct. 30, 2020	Sep. 21, 2020
2020 Convertible Loan Agreements [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt Instrument, Face Amount		$ 274,000	$ 100,000	$ 125,000
Debt Instrument, Convertible, Conversion Price				$ 7.63
2021 Convertable Loan Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt Instrument, Convertible, Conversion Price	$ 7.63
Debt Instrument, Periodic Payment, Principal	$ 499,000
Debt Instrument, Periodic Payment, Interest	$ 11,211
Debt Conversion, Converted Instrument, Shares Issued	66,877

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) - USD ($)	Jun. 20, 2021	May 15, 2021	May 13, 2021	Jun. 30, 2021
Subsidiary, Sale of Stock [Line Items]
Shares issued during period value new issue			1,090,909
Shares Issued, Price Per Share			$ 11	$ 7.92
Stock Issued During Period, Value, New Issues				$ 10,457,862
Consulting Agreement [Member] | Consultant [Member]
Subsidiary, Sale of Stock [Line Items]
[custom:PaymentOfConsultantFee]		$ 40,000
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Number of Shares		12,000
Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Shares issued during period value new issue				1,090,909
Stock Issued During Period, Value, New Issues				$ 109
Common Stock [Member] | Consulting Agreement [Member] | Consultant [Member]
Subsidiary, Sale of Stock [Line Items]
Shares issued during period value new issue	12,000
Stock Issued During Period, Value, New Issues	$ 126,600
Underwritten Public Offering [Member] | Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Shares issued during period value new issue			1,090,909
Shares Issued, Price Per Share			$ 11

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details)	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Share-based Payment Arrangement [Abstract]
Number of Options Outstanding, Beginning | shares	206,862
Weighted Average Exercise Price, Beginning | $ / shares	$ 3.37
Number of Options, Granted | shares
Weighted Average Exercise Price, Granted | $ / shares
Number of Options, Exercised | shares
Weighted Average Exercise Price, Exercised | $ / shares
Number of Options, Forfeited or Expired | shares
Weighted Average Exercise Price, Forfeited or Expired | $ / shares
Number of Options Outstanding, Ending | shares	206,862
Weighted Average Exercise Price, Ending | $ / shares	$ 3.37
Number of Options Exercisable | shares	139,543
Weighted Average Exercise Price, Exercisable | $ / shares	$ 3.31

STOCK OPTIONS (Details Narrativ

STOCK OPTIONS (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	May 13, 2021
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Aggregate intrinsic value	$ 941,627
Stock price	$ 7.92		$ 11
Share-based Payment Arrangement, Noncash Expense	$ 272,658	$ 219,667
Employees And Directors [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Share-based Payment Arrangement, Noncash Expense	$ 146,058	$ 219,667

COMMITMENT AND CONTINGENT LIA_2

COMMITMENT AND CONTINGENT LIABILITIES (Details Narrative) - USD ($)	Jun. 15, 2021	Jun. 30, 2021
Consultant One [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Bonus amount		$ 150,000
Consultant Two [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Bonus amount		$ 250,000
Consulting Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt Instrument, Description		In addition, the Company agreed to grant the consultants with signing bonuses in the amounts of $
Consulting Agreement [Member] | Consultant [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Monthly consultancy fee	$ 3,500
Monthly directors fee.	$ 200
Consulting Agreement [Member] | Consultant One [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt Instrument, Fee Amount		$ 13,000
Consulting Agreement [Member] | Consultant Two [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt Instrument, Fee Amount		2,000
October 10, 2018 Agreement [Member] | Consultant Two [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Share-based Payment Arrangement, Expense		$ 33,000

SCHEDULE OF TRANSACTIONS AND BA

SCHEDULE OF TRANSACTIONS AND BALANCES WITH RELATED PARTIES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
General and administrative expense	$ 1,419,736	$ 295,297	$ 1,672,707	$ 513,376
Share based compensation			272,658	219,667
Research and development expense	226,742	95,707	296,533	253,343
Other accounts payables	$ 173,526	$ 258,782	173,526	258,782
General and Administrative Expense [Member]
General and administrative expense			92,362	363,475
Share based compensation			6,533	199,199
General and Administrative Expense [Member] | Directors Compensation[Member]
General and administrative expense			22,217	228,136
General and Administrative Expense [Member] | Salaries and Fees to Officers [Member]
General and administrative expense			70,145	135,339
Research and Development Expense [Member]
Share based compensation
Research and Development Expense [Member] | Salaries and Fees to Officers [Member]
Research and development expense				$ 25,272

RELATED PARTIES (Details Narrat

RELATED PARTIES (Details Narrative)	Jun. 17, 2021USD ($)	Jun. 17, 2021ILS (₪)	Nov. 05, 2020USD ($)
Co-Chief Executive Officer [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Monthly consultancy fee			$ 8,000
Mr Palach [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Monthly directors fee.	$ 500
Financing Receivable, Nonaccrual to Outstanding, Percent	4.50%	4.50%
Mr Palach [Member] | Consulting Agreement [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Monthly consultancy fee	$ 14,000
Chief Financial Officer [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Monthly directors fee.	500
Chief Financial Officer [Member] | Consulting Agreement [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Monthly consultancy fee	$ 8,000
Ms. Raz Avayo [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Financing Receivable, Nonaccrual to Outstanding, Percent	1.50%	1.50%
Board of Directors Chairman [Member] | Consulting Agreement [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Financing Receivable, Nonaccrual to Outstanding, Percent	1.50%	1.50%
Board of Directors Chairman [Member] | Consulting Agreements [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Monthly consultancy fee	$ 5,000
Board Of Directors Chairman Two [Member] | Consulting Agreement [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Monthly consultancy fee	$ 30,500	₪ 100,000
Financing Receivable, Nonaccrual to Outstanding, Percent	0.25%	0.25%

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Aug. 05, 2021	Jul. 12, 2021	Jul. 02, 2021	Jun. 15, 2021	May 15, 2021	Jun. 30, 2021
Subsequent Event [Line Items]
Stock Issued During Period, Value, Issued for Services						$ 126,600
Subsequent Event [Member]
Subsequent Event [Line Items]
Shares, Issued			143,279
Service Agreement [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Monthly consultancy fee			$ 10,000
Consulting Agreement [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Payment of consultant fee	$ 301,000
Shall issue shares to consultant	12,000
Consultant [Member] | Service Agreement [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Value, Issued for Services			$ 15,000
Stock Issued During Period, Shares, Issued for Services			14,285
Consultant [Member] | Consulting Agreement [Member]
Subsequent Event [Line Items]
Monthly consultancy fee				$ 3,500
Payment of consultant fee					$ 40,000
Shall issue shares to consultant					12,000
Board of Directors Chairman [Member] | Consulting Agreement [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Contract Termination Claims, Description		On July 12, 2021, the Company and the Chairman of the Board of Save Foods Ltd. entered into a Separation Agreement and Release according to which the consulting agreement previously executed with the former chairman was terminated effective as of July 8, 2021.