Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2023 | Aug. 14, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2023 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-56492 | |
Entity Registrant Name | IR-Med, Inc. | |
Entity Central Index Key | 0001839133 | |
Entity Tax Identification Number | 84-4516398 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | ZHR Industrial Zone | |
Entity Address, City or Town | Rosh Pina | |
Entity Address, Country | IL | |
Entity Address, Postal Zip Code | 1231400 | |
City Area Code | 972 | |
Local Phone Number | 4-655-5054 | |
Trading Symbol | IRME | |
Title of 12(g) Security | Common Stock, $0.001 par value per share | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 69,829,424 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Current assets | ||
Cash and cash equivalents | $ 2,336 | $ 3,002 |
Accounts receivable | 99 | 55 |
Total current assets | 2,435 | 3,057 |
Non- current assets | ||
Long term restricted deposit | 11 | 11 |
Operating lease right of use assets | 118 | 155 |
Property and equipment, net | 58 | 71 |
Total non-current assets | 187 | 237 |
Total assets | 2,622 | 3,294 |
Current liabilities | ||
Trade and other payables | 445 | 500 |
Stockholders’ loans | 156 | 162 |
Total current liabilities | 601 | 662 |
Non-current liabilities | ||
Long term lease liability | 13 | 40 |
Total non-current liabilities | 13 | 40 |
Total liabilities | 614 | 702 |
Stockholders’ Equity | ||
Common Stock, par value $0.001 per share, 250,000,000, shares authorized. 69,829,424 and 68,808,970 shares issued as of June 30, 2023, and December 31, 2022, respectively. | 69 | 68 |
Additional paid-in capital | 14,328 | 12,454 |
Accumulated deficit | (12,389) | (9,930) |
Total Stockholders’ equity | 2,008 | 2,592 |
Total liabilities and stockholders’ equity | $ 2,622 | $ 3,294 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares issued | 69,829,424 | 68,808,970 |
Common stock, shares outstanding | 69,829,424 | 68,808,970 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Income Statement [Abstract] | ||||
Research and development expenses | $ 496 | $ 412 | $ 1,101 | $ 889 |
Marketing expenses | 162 | 130 | 334 | 181 |
General and administrative expenses | 4 | 429 | 1,017 | 754 |
Total operating loss | 1,100 | 971 | 2,452 | 1,824 |
Financial expenses (income), net | 9 | (32) | 7 | (36) |
Loss for the period | $ 1,109 | $ 939 | $ 2,459 | $ 1,788 |
Basic loss per common stock | $ (0.02) | $ (0.01) | $ (0.04) | $ (0.03) |
Dilutive loss per common stock | $ (0.02) | $ (0.01) | $ (0.04) | $ (0.03) |
Weighted average number of ordinary shares | 69,029,424 | 68,238,013 | 68,919,197 | 66,419,831 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total | |
Balance at Dec. 31, 2021 | $ 64 | $ 7,503 | $ (5,196) | $ 2,371 | |
Balance, shares at Dec. 31, 2021 | 64,601,649 | ||||
Private placement of common stock and warrants. | $ 4 | 3,196 | 3,200 | ||
Private placement of common stock and warrants, net, shares | 3,636,364 | ||||
Stock-based compensation | 102 | 102 | |||
Loss for the period | (1,788) | (1,788) | |||
Balance at Jun. 30, 2022 | $ 68 | 10,801 | (6,984) | 3,885 | |
Balance, shares at Jun. 30, 2022 | 68,238,013 | ||||
Balance at Dec. 31, 2022 | $ 68 | 12,454 | (9,930) | 2,592 | |
Balance, shares at Dec. 31, 2022 | 68,808,970 | ||||
Private placement of common stock and warrants. | $ 1 | 999 | 1,000 | ||
Private placement of common stock and warrants, net, shares | 1,000,000 | ||||
Stock-based compensation | [1] | 875 | 875 | ||
Stock-based compensation, shares | 20,454 | ||||
Loss for the period | (2,459) | (2,459) | |||
Balance at Jun. 30, 2023 | $ 69 | $ 14,328 | $ (12,389) | $ 2,008 | |
Balance, shares at Jun. 30, 2023 | 69,829,424 | ||||
[1]Represents an amount less than US$ 1 thousand |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Cash flows from operating activities | ||
Loss for the period | $ (2,459) | $ (1,788) |
Adjustments to reconcile loss for the period to net cash used in operating activities: | ||
Stock based compensation | 875 | 102 |
Depreciation | 13 | 6 |
Accrued financial income | (11) | (41) |
Increase in accounts receivable | (44) | (102) |
Decrease in trade and other payables | (41) | (97) |
Net cash used in operating activities | (1,667) | (1,920) |
Cash flows from investing activities | ||
Purchase of property and equipment | (36) | |
Investment in restricted deposit | (9) | |
Net cash used in investing activities | (45) | |
Cash flows from financing activities | ||
Proceeds from private placement of common stock and warrants.(see also note 1.B) | 1,000 | 3,200 |
Net cash provided by financing activities | 1,000 | 3,200 |
Effect of exchange rate changes on cash and cash equivalents | 1 | 8 |
Net (decrease) increase in cash and cash equivalents | (666) | 1,243 |
Cash and cash equivalents as at the beginning of the period | 3,002 | 2,815 |
Cash and cash equivalents as at the end of the period | $ 2,336 | $ 4,058 |
General
General | 6 Months Ended |
Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
General | Note 1 - General A. Description of Business IR-Med, Inc. (OTC QB: IRME, hereinafter: the “Company”) was incorporated in Nevada in 2007 and is a holding company. It also operates through IR. Med Ltd., the Company’s wholly owned subsidiary (the “Subsidiary”). The registered office of IR-Med, Inc. and the corporate headquarters and research facility of the Subsidiary are located in Rosh Pina, Israel. The Company is a development stage medical device company developing its technology through its Subsidiary and is utilizing Infra-Red light spectroscopy (IR), combined with an Artificial Intelligence (AI) technology platform, to develop non-invasive devices for various medical indications, by detecting and measuring various biomarkers and molecules in the blood and in human tissue in real-time. The initial product candidates which are currently in various stages of development are non-invasive, user friendly and designed to address the medical needs of large and growing target patient groups by offering earlier and more accurate information for detection, which is expected to reduce healthcare expenses, reduce widespread reliance on antibiotics administration, and other interventional options, and optimize the delivery of targeted medical services and, as a result, improve the efficacy and safety of administered treatments. B. Going Concern These consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) assuming the Company will continue as a going concern. The going concern assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. However, substantial doubt about the Company’s ability to continue as a going concern exists. The Company is in its development stage and does not expect to generate significant revenue until such time as the Company shall have completed the design and development of its initial product candidate and obtained the requisite approvals to market its products. During the six months ended June 30, 2023, the Company has incurred losses of $ 2,459 1,667 12,389 Management’s plans regarding these matters include continued development and marketing of the Company’s products, as well as seeking additional financing arrangements. Although management continues to pursue these plans, there is no assurance that the Company will be successful in raising the needed capital from revenues or financing on commercially acceptable terms. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. On June 12, 2023, the Company entered into a subscription agreement with one investor pursuant to which the Company issued 1,000,000 shares of its common stock at a per share price of $ 1.00 , and warrants to purchase up to an additional 1,000,000 shares of common stock at a per share exercise price of $ 1.40 and expire on the third anniversary from the date of issuance of the warrant to the holder. The Company is entitled to accelerate the warrant exercise period for all or a part of the then outstanding warrants by written notice to the holders if the publicly traded price of the Company’s common stock equals or exceeds $ 2.50 per share (which amount may be adjusted for certain capital events, such as stock splits, as described herein) and the corresponding average daily trading volume during such period shall equal or exceed 75,000 shares, in each case for the preceding forty ( 40 ) consecutive trading days. The Company received aggregate gross proceeds of $ 1,000,000 from this financing. As a result of the Company’s financial condition, substantial doubt exists that the Company will be able to continue as a going concern for one year from the issuance date of these financial statements. The consolidated financial statements do not include any adjustments to the carrying amounts and classification of assets, liabilities, and reported expenses that may be necessary if the Company were unable to continue as a going concern. IR-Med, Inc. Notes to the Interim Unaudited Condensed Consolidated Financial Statements |
Interim Unaudited Financial Inf
Interim Unaudited Financial Information | 6 Months Ended |
Jun. 30, 2023 | |
Quarterly Financial Information Disclosure [Abstract] | |
Interim Unaudited Financial Information | Note 2 - Interim Unaudited Financial Information The accompanying interim unaudited financial statements of the Company (the “Interim Financial Statements”) have been prepared in accordance with U.S. GAAP for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements and therefore should be read in conjunction with the Company’s Annual Report on Form 10-K/A for the year ended December 31, 2022 (the “2022 Annual Report”), filed with the Securities and Exchange Commission (the “SEC”). In the opinion of management, all adjustments considered necessary for a fair statement, consisting of normal recurring adjustments, have been included. Operating results for the three and six months period ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the Interim Financial Statements, and the reported amounts of expenses during the reporting period. Significant items are subject to such estimates and assumptions including fair value of warrants and the share-based compensation. Actual results could differ from those estimates. |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Note 3 - Significant Accounting Policies These interim unaudited condensed consolidated financial statements have been prepared according to the same accounting policies as those discussed in the Company’s 2022 Annual Report. |
Stock options plan
Stock options plan | 6 Months Ended |
Jun. 30, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Stock options plan | Note 4 - Stock options plan On December 23, 2020, the Company’s board of directors approved, and the shareholders adopted, a share-based compensation plan (the “2020 Incentive Stock Plan”) for future grants by the Company to officers, directors, employees and consultants. As of June 30, 2023, the Company awarded to its employees and service providers options to purchase up to 13,513,176 7,821,176 0.32 5,012,000 0.58 480,000 0.01 200,000 0.64 As of June 30, 2023, options for 10,128,530 one three years three ten years The aforementioned grants were approved following the adoption of the 2020 Incentive Stock Plan and the adoption of the sub plan (the “Israeli appendix”) on April 29, 2021. The Company recorded in the statement of operations a non-cash expense of $ 875 102 IR-Med, Inc. Notes to the Interim Unaudited Condensed Consolidated Financial Statements Note 4 - Stock options plan (cont’d) The stock-based compensation expenses for the three and six months ended June 30, 2023 and 2022 were recognized in the statements of operations as follows: Schedule of Stock-Based Compensation Expenses 2023 2022 2023 2022 For the three-months period ended June 30 For the six-months period ended June 30 2023 2022 2023 2022 U.S dollars (in thousands) Research and development expenses 38 26 83 47 Marketing expenses 154 - 313 - General and administrative expenses 205 23 479 55 Total stock based compensation 397 49 875 102 The following table sets forth information about the weighted-average fair value of options granted to employees and service providers during the six month periods ended June 30, 2023 and 2022, using the Black- Scholes-Merton option-pricing model and the weighted-average assumptions used for such grants: Schedule of Stock Options, Valuation Assumptions For the six-month period ended June 30, 2023 June 30, 2022 Dividend yields (see (I) below) 0.0 % 0.0 % Share price (in U.S. dollar) (see (II) below) 0.53 0.26 0.53 Expected volatility (see (III) below) 114.29 95.37 % 82.77 142.57 % Risk-free interest rates (see (IV) below) 3.61 4 % 0.17 2.63 % Expected life (in years) (see (V) below) 5 14.79 1.5 14.79 I. The Company used 0 II. The Company’s common stocks are quoted on the OTCQB. However, the Company considers its share price as it is traded on OTCQB to not be an appropriate representation of fair value, since it is not traded on an active market. The Company determined that the market is inactive due to low level of activity of the Company’s common stock, stale or non-current price quotes and price quotes that vary substantially either over time or among market makers. Consequently, the price of the Company’s common stock has been determined based on private placement equity offerings conducted in April 2021 and July 2022, consisting of units comprised of shares of common stock and warrants, at a per unit purchase price of $ 0.64 0.88 IR-Med, Inc. Notes to the Interim Unaudited Condensed Consolidated Financial Statements III. As the Company is at its early stage of operation, there is not sufficient historical volatility for the expected term of the stock options. Therefore, the Company uses an average historical share price volatility based on an analysis of reported data for a peer group of comparable publicly traded companies which were selected based upon industry similarities. IV. The Company determined the risk-free interest rate by using a weighted-average equivalent to the expected term based on the U.S. Treasury yield curve in effect as of the date of the grant. V. The expected life of the granted options was determined based on the estimated behavior of the grantees; since most of the grantees are executives, the Company assumed that the large majority of the options will be exercised prior to their expiration. |
Commitments and contingencies
Commitments and contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and contingencies | Note 5 - Commitments and contingencies On May 29, 2023, a lawsuit was filed against the Company, the Subsidiary and Mr. Aharon Klein, a Company Director and the Company’s Chief Technology Officer in the Tel Aviv District Court of Israel, by an individual who provided, on s part time basis, certain consulting services to the Subsidiary between October 2015 through October 2016, prior to the acquisition of the Subsidiary by the Company. The suit alleges breach of contract by the defendants based on non-payment of amounts purportedly owed to the plaintiff in respect of the services rendered, including the market value of the Company’s common stock that the plaintiff alleges should have been issued to him in respect of services. The suit seeks declaratory judgment that the defendants breached certain agreements with the plaintiff and claimed damages in the aggregate amount of approximately $ 2.1 The Company records a provision in its financial statements to the extent that it concludes that a contingent liability is probable, and the amount thereof is reasonably estimable. Based upon the status of the case described above, management’s assessments of the likelihood of damages, and the advice of counsel, no provisions have been made regarding the matter disclosed in this note. Litigation outcomes and contingencies are unpredictable, and excessive verdicts can occur. Accordingly, management’s assessments involve complex judgments about future events and often rely heavily on estimates and assumptions. |
Stock options plan (Tables)
Stock options plan (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of Stock-Based Compensation Expenses | Schedule of Stock-Based Compensation Expenses 2023 2022 2023 2022 For the three-months period ended June 30 For the six-months period ended June 30 2023 2022 2023 2022 U.S dollars (in thousands) Research and development expenses 38 26 83 47 Marketing expenses 154 - 313 - General and administrative expenses 205 23 479 55 Total stock based compensation 397 49 875 102 |
Schedule of Stock Options, Valuation Assumptions | The following table sets forth information about the weighted-average fair value of options granted to employees and service providers during the six month periods ended June 30, 2023 and 2022, using the Black- Scholes-Merton option-pricing model and the weighted-average assumptions used for such grants: Schedule of Stock Options, Valuation Assumptions For the six-month period ended June 30, 2023 June 30, 2022 Dividend yields (see (I) below) 0.0 % 0.0 % Share price (in U.S. dollar) (see (II) below) 0.53 0.26 0.53 Expected volatility (see (III) below) 114.29 95.37 % 82.77 142.57 % Risk-free interest rates (see (IV) below) 3.61 4 % 0.17 2.63 % Expected life (in years) (see (V) below) 5 14.79 1.5 14.79 I. The Company used 0 II. The Company’s common stocks are quoted on the OTCQB. However, the Company considers its share price as it is traded on OTCQB to not be an appropriate representation of fair value, since it is not traded on an active market. The Company determined that the market is inactive due to low level of activity of the Company’s common stock, stale or non-current price quotes and price quotes that vary substantially either over time or among market makers. Consequently, the price of the Company’s common stock has been determined based on private placement equity offerings conducted in April 2021 and July 2022, consisting of units comprised of shares of common stock and warrants, at a per unit purchase price of $ 0.64 0.88 IR-Med, Inc. Notes to the Interim Unaudited Condensed Consolidated Financial Statements III. As the Company is at its early stage of operation, there is not sufficient historical volatility for the expected term of the stock options. Therefore, the Company uses an average historical share price volatility based on an analysis of reported data for a peer group of comparable publicly traded companies which were selected based upon industry similarities. IV. The Company determined the risk-free interest rate by using a weighted-average equivalent to the expected term based on the U.S. Treasury yield curve in effect as of the date of the grant. V. The expected life of the granted options was determined based on the estimated behavior of the grantees; since most of the grantees are executives, the Company assumed that the large majority of the options will be exercised prior to their expiration. |
General (Details Narrative)
General (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Jun. 12, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Net losses | $ 1,109,000 | $ 939,000 | $ 2,459,000 | $ 1,788,000 | |||
Cash flow from operating activities net | 1,667,000 | $ 1,920,000 | |||||
Accumulated deficit | $ 12,389,000 | $ 12,389,000 | $ 9,930,000 | ||||
Share Price | [1] | $ 0.53 | $ 0.53 | ||||
Maximum [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Share Price | [1] | $ 0.53 | $ 0.53 | ||||
Common Stock [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Net losses | |||||||
Subscription Agreements [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Proceeds from Warrant Exercises | $ 1,000,000 | ||||||
Subscription Agreements [Member] | Maximum [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Class of Warrant or Right, Outstanding | 75,000 | ||||||
Subscription Agreements [Member] | Common Stock [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
[custom:TradingDays] | 40 days | ||||||
Subscription Agreements [Member] | Common Stock [Member] | Maximum [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Share Price | $ 2.50 | ||||||
Subscription Agreements [Member] | Investor [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Stock Issued During Period, Value, New Issues | $ 1,000,000 | ||||||
Shares Issued, Price Per Share | $ 1 | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,000,000 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.40 | ||||||
[1]The Company’s common stocks are quoted on the OTCQB. However, the Company considers its share price as it is traded on OTCQB to not be an appropriate representation of fair value, since it is not traded on an active market. The Company determined that the market is inactive due to low level of activity of the Company’s common stock, stale or non-current price quotes and price quotes that vary substantially either over time or among market makers. Consequently, the price of the Company’s common stock has been determined based on private placement equity offerings conducted in April 2021 and July 2022, consisting of units comprised of shares of common stock and warrants, at a per unit purchase price of $ 0.64 0.88 |
Schedule of Stock-Based Compens
Schedule of Stock-Based Compensation Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock based compensation | $ 397 | $ 49 | $ 875 | $ 102 |
Research and Development Expense [Member] | ||||
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock based compensation | 38 | 26 | 83 | 47 |
Selling and Marketing Expense [Member] | ||||
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock based compensation | 154 | 313 | ||
General and Administrative Expense [Member] | ||||
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock based compensation | $ 205 | $ 23 | $ 479 | $ 55 |
Schedule of Stock Options, Valu
Schedule of Stock Options, Valuation Assumptions (Details) - $ / shares | 6 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Jul. 31, 2022 | Apr. 30, 2021 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Dividend yields | [1] | 0% | 0% | ||
Share price | [2] | $ 0.53 | |||
Expected volatility minimum | [3] | 114.29% | 82.77% | ||
Expected volatility maximum | [3] | 95.37% | 142.57% | ||
Risk free interest rate minimum | [4] | 3.61% | 0.17% | ||
Risk free interest rate maximum | [4] | 4% | 2.63% | ||
Private Placement [Member] | Warrant [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Warrant exercise price per share | $ 0.88 | $ 0.64 | |||
Minimum [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Share price | [2] | $ 0.26 | |||
Expected life (in years) | [5] | 5 years | 1 year 6 months | ||
Maximum [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Share price | [2] | $ 0.53 | |||
Expected life (in years) | [5] | 14 years 9 months 14 days | 14 years 9 months 14 days | ||
[1]The Company used 0 0.64 0.88 |
Schedule of Stock Options, Va_2
Schedule of Stock Options, Valuation Assumptions (Details) (Parenthetical) - $ / shares | 6 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Jul. 31, 2022 | Apr. 30, 2021 | ||
Subsidiary, Sale of Stock [Line Items] | |||||
Dividend rate | [1] | 0% | 0% | ||
Private Placement [Member] | Warrant [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Warrant exercise price per share | $ 0.88 | $ 0.64 | |||
[1]The Company used 0 |
Stock options plan (Details Nar
Stock options plan (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Purchase plans employees | 13,513,176 | |||
Shares vested grant | 10,128,530 | |||
Share based compensation | $ 397 | $ 49 | $ 875 | $ 102 |
Minimum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants and rights outstanding term | 3 years | 3 years | ||
Maximum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants and rights outstanding term | 10 years | 10 years | ||
Common Stock [Member] | Minimum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants and rights outstanding term | 1 year | 1 year | ||
Common Stock [Member] | Maximum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants and rights outstanding term | 3 years | 3 years | ||
Employee Stock Option One [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Stock issued during period shares issued for services | 7,821,176 | |||
Shares issued price per share | $ 0.32 | $ 0.32 | ||
Employee Stock Option Two [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Stock issued during period shares issued for services | 5,012,000 | |||
Shares issued price per share | 0.58 | $ 0.58 | ||
Employee Stock Option Three [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Stock issued during period shares issued for services | 480,000 | |||
Shares issued price per share | 0.01 | $ 0.01 | ||
Employee Stock Option Four [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Stock issued during period shares issued for services | 200,000 | |||
Shares issued price per share | $ 0.64 | $ 0.64 |
Commitments and contingencies (
Commitments and contingencies (Details Narrative) $ in Millions | May 29, 2023 USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Aggregate amount of damages claimed | $ 2.1 |