ParaZero Technologies (PRZO) 6-K 3 Sep 24 Condensed Interim Financial Statements Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Jun. 30, 2024
Document Information Line Items
Entity Registrant Name	ParaZero Technologies Ltd.
Document Type	6-K
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001916241
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity File Number	001-41760

Condensed Interim Balance Sheet

Condensed Interim Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 5,289,105	$ 7,428,405
Trade receivables	111,998	22,376
Other current assets	685,781	651,560
Inventories	377,729	264,468
TOTAL CURRENT ASSETS	6,464,613	8,366,809
NON-CURRENT ASSETS:
Restricted deposit	68,603
Operating lease right-of-use asset	500,193	8,127
Property and equipment, net	103,899	49,981
TOTAL NON-CURRENT ASSETS	672,695	58,108
TOTAL ASSETS	7,137,308	8,424,917
CURRENT LIABILITIES:
Trade payables	191,028	56,682
Operating lease liabilities	196,440	7,543
Other current liabilities	857,247	690,861
TOTAL CURRENT LIABILITIES	1,244,715	755,086
NON-CURRENT LIABILITIES:
Operating lease liabilities, net of current portion	289,649
Derivative warrant liabilities	1,497,546	1,564,773
TOTAL NON-CURRENT LIABILITIES	1,787,195	1,564,773
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ DEFICIT
Ordinary shares, NIS 0.02 par value: Authorized 200,000,000 as of June 30, 2024 and 25,000,000 as of December 31, 2023; Issued and outstanding 11,162,546 and 10,073,956 shares as of June 30,2024 and as of December 31, 2023, respectively	62,019	56,227
Additional paid-in capital	24,492,530	24,471,888
Accumulated losses	(20,449,151)	(18,423,057)
TOTAL SHAREHOLDERS’ EQUITY	4,105,398	6,105,058
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 7,137,308	$ 8,424,917

Condensed Interim Balance She_2

Condensed Interim Balance Sheets (Unaudited) (Parentheticals) - ₪ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Ordinary shares, par value (in New Shekels per share)	₪ 0.02	₪ 0.02
Ordinary shares, share authorized	200,000,000	25,000,000
Ordinary shares, shares issued	11,162,546	10,073,956
Ordinary shares, shares outstanding	11,162,546	10,073,956

Condensed Interim Statements of

Condensed Interim Statements of Comprehensive Loss (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Sales	$ 282,693	$ 344,819
Cost of Sales	209,529	194,104
GROSS PROFIT	73,164	150,714
Research and development expenses	662,440	216,181
Selling and marketing expenses	516,401	94,339
General and administrative expenses	1,122,759	101,877
Initial public offering expenses		106,754
OPERATING LOSS	2,228,436	368,436
Change in fair value of derivative warrant liabilities	(67,227)
Other finance expenses (income), net	(135,115)	64,888
NET LOSS AND COMPREHENSIVE LOSS	$ 2,026,094	$ 433,324
Net loss per ordinary share, basic (in Dollars per share)	$ 0.19	$ 0.12
Weighted average number of ordinary shares outstanding, basic (in Shares)	10,940,958	3,597,442

Condensed Interim Statements _2

Condensed Interim Statements of Comprehensive Loss (Unaudited) (Parentheticals) - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net loss per ordinary share, diluted	$ 0.19	$ 0.12
Weighted-average number of ordinary shares outstanding, diluted	10,940,958	3,597,442

Condensed Interim Statements _3

Condensed Interim Statements of Changes In Shareholders’ Deficit (Unaudited) - USD ($)	Ordinary shares	Additional paid-in Capital	Accumulated Losses	Total
Balance at Dec. 31, 2022	$ 21,456	$ 12,988,292	$ (14,651,678)	$ (1,641,930)
Balance (in Shares) at Dec. 31, 2022	3,597,442
Stock based compensation		91,531		91,531
Benefit to the Company by an equity holder with respect to funding transaction		12,167		12,167
Comprehensive loss			(433,324)	(433,324)
Balance at Jun. 30, 2023	$ 21,456	13,091,990	(15,085,002)	(1,971,556)
Balance (in Shares) at Jun. 30, 2023	3,597,442
Balance at Dec. 31, 2023	$ 56,227	24,471,888	(18,423,057)	$ 6,105,058
Balance (in Shares) at Dec. 31, 2023	10,073,956			10,073,956
Stock based compensation		26,434		$ 26,434
Exercise of pre-funded warrants and consultant warrants (Note 7)	$ 5,792	(5,792)
Exercise of pre-funded warrants and consultant warrants (Note 7) (in Shares)	1,088,590
Comprehensive loss			(2,026,094)	(2,026,094)
Balance at Jun. 30, 2024	$ 62,019	$ 24,492,530	$ (20,449,151)	$ 4,105,398
Balance (in Shares) at Jun. 30, 2024	11,162,546			11,162,546

Condensed Interim Statements _4

Condensed Interim Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,026,094)	$ (433,324)
Adjustments required to reconcile net loss to net cash used in operating activities -
Depreciation	10,448	10,225
Stock based compensation	26,434	47,991
Interest expenses with respect to funding from related party		96,883
Derivative warrant liabilities	(67,227)
Loss from exchange differences on cash and cash equivalents	2,850
Finance expenses	(14,104)	3,358
Changes in operating assets and liabilities:
Trade receivables	(89,622)	165,660
Other current assets	(34,221)	72,489
Deferred initial public offering cost		(72,756)
Inventories	(113,261)	(37,466)
Operating lease right-of use asset	53,863	(24,382)
Trade payables	134,346	51,520
Operating lease liabilities	(53,279)	21,024
Other current liabilities	166,386	(150,406)
Net cash used in operating activities	(2,003,481)	(249,184)
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in restricted deposit	(68,603)
Purchase of property and equipment	(64,366)	(677)
Net cash used in investing activities	(132,969)	(677)
CASH FLOWS FROM FINANCING ACTIVITIES:
Receipt of loan from related party		245,000
Net cash from financing activities		245,000
Effect of exchange rate changes on cash, cash equivalents	(2,850)
Net decrease in cash and cash equivalents	(2,139,300)	(4,861)
Cash and cash equivalents at beginning of period	7,428,405	89,806
Cash and cash equivalents at end of period	5,289,105	84,945
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Benefit to the Company by an equity holder with respect to funding transactions		12,167
Right-of-use assets obtained in exchange for operating lease liabilities	545,929
Stock based compensation included as issuance costs		$ 43,540

General

General	6 Months Ended
	Jun. 30, 2024
General [Abstract]
General	Note 1 – General 1. PARAZERO TECHNOLOGIES LTD. - (the “Company”) was incorporated in Israel on June 30, 2013. The Company’s address is 1 HaTahana, Kfar Saba, 4453001, Israel. The Company is an aerospace company that is focused on drone safety systems and engaged in the business of designing, developing, and providing what it believes are best-in-class autonomous parachute safety systems for commercial drones, also known as unmanned aerial systems, or UAS. The company was founded by a group of aviation professionals, together with veteran drone operators, to address the drone industry’s safety challenges. The Company’s goal is to enable the drone industry to realize its greatest potential through increasing safety and mitigating operational risk. 2. The Company is in its commercialization stage and has not generated significant revenues at this stage. The Company has incurred recurring losses and negative cash flows from operating activities since inception, such that as of June 30, 2024, the Company had accumulated losses of $20,449,151, and a shareholders’ equity of $4,105,398. On July 31, 2023, the Company raised gross proceeds of $7.8 million from its IPO, and on October 30, 2023, the Company raised gross proceeds of approximately $5.1 million in a private investment in public equity transaction (the “PIPE”). Management expects that it will require additional financing in the future to fund its operations until it shall have generated significant revenues. Based on the Company’s current operating plan, the Company’s management currently estimates that its cash position will support its current operations as currently conducted for more than 12 months from the date of issuance of these interim financial statements.

Basis for Preparation

Basis for Preparation	6 Months Ended
	Jun. 30, 2024
Basis for Preparation [Abstract]
Basis for preparation	Note 2 – Basis for preparation The Company’s accompanying unaudited condensed interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnote disclosures required by U.S. GAAP for complete financial statements. The condensed interim financial statements reflect all adjustments considered necessary for a fair presentation of the results of operations and financial position for the interim periods presented. All such adjustments are of a normal recurring nature. These unaudited interim financial statements should be read in conjunction with the financial statements of the Company for the year ended December 31, 2023 and notes thereto that are included in the Company’s Form 20-F, filed with the SEC on March 21, 2024. The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The results of operations for the six months ended June 30, 2024 are not necessarily indicative of the results to be expected for any other interim period or for the year ending December 31, 2024.

Significant Accounting Policies

Significant Accounting Policies, Accounting Pronouncements Adopted and Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2024
Significant Accounting Policies, Accounting Pronouncements Adopted and Recently Issued Accounting Standards [Abstract]
Significant Accounting Policies, Accounting Pronouncements Adopted and Recently Issued Accounting Standards	Note 3 – Significant Accounting Policies, Accounting Pronouncements Adopted and Recently Issued Accounting Standards A. Significant Accounting Policies The significant accounting policies followed in the preparation of these unaudited interim condensed consolidated financial statements are identical to those applied in the preparation of the latest annual financial statements, except for the following: Restricted deposits The restricted deposits consist of funds that are contractually restricted as to usage or withdrawal due to guarantees made with regards to lease payments for the Company’s office space.

Other Current Assets

Other Current Assets	6 Months Ended
	Jun. 30, 2024
Other Current Assets [Abstract]
Other Current Assets	Note 4 – Other Current Assets: June 30 December 31 2024 2023 Governmental institutions 106,024 233,501 Prepaid expenses 223,969 349,632 Deferred contract costs 334,531 68,427 Other current assets 21,257 - 685,781 651,560

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Note 5 – Leases: The Company had a two-year lease agreement for its office in Kiryat Ono, Israel that began in 2020, and was renewed in 2022 for an additional two years that ended in February 2024, and further extended by one On February 1, 2024, the Company entered into a three-year lease agreement commencing on March 15, 2024 (the “Lease Agreement”), to move its corporate headquarters, including the offices and research and development facility, to 1 HaTahana Street, Menivim Tower, Kfar Saba 4453001 Israel where occupies approximately 6,340 square feet, plus an additional storage space of approximately 260 square feet and 12 parking spaces. The Company completed the move to the new corporate headquarters in March 2024. The monthly aggregate rental payment is NIS 71,000 (approximately $18,900) plus VAT, as required under Israeli law. At the end of the term, the Company has an option to extend the lease for additional three years. In addition, the Company provided a bank guarantee in the amount of approximately NIS 248,000 (approximately $66,000) to the Company’s landlords as part of the Lease Agreement. The Company’s lease expenses were as follows: Six months ended June 30, 2024 2023 Lease expense $ 45,736 $ 22,929 Other information related to the new operating leases as follows: Six months ended June 30, 2024 2023 Weighted-average remaining lease term — operating leases (years) 2.71 0.67 Weighted-average discount rate — operating leases (%) 11.54 6 Undiscounted maturities of operating lease payments are summarized as follows: June 30, 2024 $ 102,450 2025 $ 204,900 2026 $ 204,900 2027 $ 42,689 Total undiscounted cash flows $ 554,939 Less: imputed interest $ 68,850 Operaעting lease liabilities $ 486,089

Other Current Liabilities

Other Current Liabilities	6 Months Ended
	Jun. 30, 2024
Other Current Liabilities [Abstract]
Other Current Liabilities	Note 6 – Other Current Liabilities: June 30 December 31 2024 2023 Employees, salaries and related liabilities 287,397 195,509 Advances from customers 336,964 201,762 Warranty provision 5,793 5,793 Accrued expenses 216,485 287,797 Other expenses 10,608 - 857,247 690,861

Derivatives Warrant Liabilities

Derivatives Warrant Liabilities	6 Months Ended
	Jun. 30, 2024
Derivatives Warrant Liabilities [Abstract]
Derivatives Warrant Liabilities	Note 7 – Derivatives Warrant Liabilities: Private Placement Warrants The Company issued pre-funded warrants, series B warrants and series A warrants as part of the PIPE. During January 2024, certain warrant holders exercised the remaining 605,452 pre-funded warrants and the remaining 132,116 series B warrants via a cashless exercise mechanism for which they received 601,367 and 131,249 ordinary shares, respectively. No pre-funded warrants or series B warrants remain outstanding. As of June 30,2024, 4,636,364, series A warrants were outstanding, each such warrant may be exercised to purchase ordinary shares with an exercise price of $1.10 per ordinary share, subject to beneficial ownership limitations and adjustments. The fair value of the series A warrants June 30, December 31, Expected volatility (%) 56.50%-63.21% 55.08%-60.24 Risk-free interest rate (%) 4.35%-4.65% 3.85%-4.05% Expected Life (years) 2-5 2-5 Value per share $0.69 $0.71 Exercise price (U.S. dollars per share) $1.1 $1.1 The following table sets forth the fair value changes of the series A warrants during the six months ended June 30, 2024: Balance as of December 31, 2023 1,564,773 Change in fair value (67,227 ) Balance as of June 30, 2024 1,497,546

Shareholders_ Equity

Shareholders’ Equity	6 Months Ended
	Jun. 30, 2024
Shareholders’ Equity [Abstract]
Shareholders’ Equity	Note 8 – Shareholders’ Equity: A. Equity Warrants During April 2024, certain consultants exercised 359,020 warrants via a cashless exercise mechanism for which they received 355,974 ordinary shares. As of June 30,2024, the remaining outstanding equity warrants are summarized in the table below: Issuance date In connection with No. of Exercise No. of 2022 Delta Drone Warrants* 111,261 $ 4.00 111,261 2023 IPO Underwriter Warrants 97,500 $ 5.00 97,500 2023 IPO Consultant Warrants 144,606 $ 1.275 144,606 * Warrants issued as part of the Delta Drone transaction with the Former Parent Company and upon the IPO completion. B. Stock-based Compensation The Company’s Global Share Incentive Plan (2022) (the “Plan”) was adopted by Company’s Board of Directors on March 28, 2022. The Plan provides for the grant of options to purchase Ordinary Shares, restricted share units representing Ordinary Shares and Ordinary Shares (collectively, the “Awards”) to the Company’s employees, officers, directors, advisors and consultants in order to promote a close identity of interests between those individuals and us. As of June 30, 2024, the total number of Ordinary Shares reserved for issuance under the Plan is 610,156 Ordinary Shares. As of the date of this report, 146,309 Ordinary Shares remain available for future awards under the Plan. Ordinary Shares subject to Awards granted under the Plan that expire, are forfeited or otherwise terminated without having been exercised in full will become available again for future grant under the Plan. A summary of the stock option activity for the six months ended June 30, 2024 is as follows: Number of Weighted Options outstanding as of December 31, 2023 366,171 $ 1.275 Granted - $ - Forfeited - $ - Options outstanding as of June 30, 2024 366,171 $ 1.275 Options exercisable as of June 30, 2024 - $ - As of June 30, 2024, the weighted-average remaining contractual life of the outstanding options were 4.1 years. The Company used the Black-Scholes option-pricing model to determine the fair value of options granted during 2023. The following assumptions were applied in determining the options’ fair value on their grant date: 2023 Risk-free interest rate 4.51%-4.67% Expected option term (years) 3.8-5 Expected share price volatility 61.1%-66.3% Dividend yield - As of June 30, 2024, the Company had 366,171 unvested options. As of June 30, 2024, the unrecognized compensation cost related to all unvested options of $170,950 is expected to be recognized as an expense on a straight-line basis over a weighted-average period of 3.2 years. The intrinsic value of the options expected to vest as of June 30, 2024 was $0.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 9 Commitments and Contingencies A. Israel Innovation Authority The Company has received royalty-bearing grants from the Israel Innovation Authority (the “IIA”), for approved research and development projects. The programs include grants for: wages, materials, subcontractors and miscellaneous. The Company is required to pay royalties at the rate of 3%-3.5% depending on meeting certain conditions on sales of the products developed with the funds provided by the IIA, up to an amount equal to 300% of the IIA research and development grant received, depending upon the manufacturing volume that is performed outside of Israel, indexed to the U.S. dollar and bearing interest., Until December 31, 2023, the interest was calculated at a rate based on an annual application of the London Interbank Offered Rate, applicable to U.S. dollar deposits, however, pursuant to the latest IIA regulations, as of January 1, 2024, IIA grants received after June 30, 2017, shall bear interest calculated at a rate based on an annual application of the Secured Overnight Financing Rate (“SOFR”), or at an alternative rate published by the Bank of Israel, plus approximately 0.72%. indexed to the dollar including accrued interest at the SOFR rate. As of December 31, 2019, the research and development projects funded by the IIA were completed. The total amount of the IIA grant received was $748 thousand. As of June 30, 2024, the maximum obligation with respect to the grants received from the IIA, including accrued interest, contingent upon entitled future sales, is $616 thousand. During the six months ended on June 30, 2024, the Company paid the IIA royalties in the amount of approximately $8 thousand in connection with revenues recorded During the six months ended on December 31, 2023, of the products developed with the funds provided by the IIA. When a company develops know-how, technology or products using IIA grants, the terms of these grants and the Research Law restrict the transfer of such know-how, and the transfer of manufacturing or manufacturing rights of such products, technologies or know-how outside of Israel, without the prior approval of the IIA. Therefore, the discretionary approval of an IIA committee would be required for any transfer to third parties inside or outside of Israel of know-how or manufacturing or manufacturing rights related to those aspects of such technologies. There is no certainty that the Company would obtain such approvals. B. Liens The Company’s long-term restricted deposits held in a bank in the amount of NIS 257,680 ($68,603) have been pledged as security in respect of guarantees granted by the bank to the Company’s landlords as part of the office lease agreement (see Note 4 above). Such deposits cannot be pledged to others or withdrawn without the consent of the bank.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 10 – Subsequent Events A. On July 24, 2024, the Company’s shareholders meeting resolved to approve a reverse share split of the Company’s issued and outstanding ordinary shares NIS 0.02 par value each, in the range of a ratio between 1:5 and 1:20, such that, depending on the ratio, every five ordinary shares and up to twenty ordinary shares shall be converted into one ordinary share with such par value to be adjusted proportionally, to be effected at the discretion of, and at such ratio and on such date to be determined by the Board, but not later than July 24, 2025, and to approve conforming amendments to the Company’s Articles of Association to reflect such reverse share split. As of the date of these interim financial statements, the Company has not effected a reverse share split of its issued and outstanding ordinary shares. B. On July 30, 2024, the Company’s Board of Directors approved the grant of an aggregate of 112,807 options to purchase ordinary shares The exercise price of the options is $1.275 per ordinary share All the other terms of the grant of the options shall be as set forth in the Company’s Global Share Incentive Plan (2022) (the “Plan”). Pursuant to the above grant, the Company have outstanding options to purchase an aggregate of 463,848 Ordinary Shares under its Global Share Incentive Plan. C. On August 9, 2024, pursuant the approval of the Company’s board of directors, the Company filed a Shelf Registration Statement on Form F-3 (the “Form F-3”) with the Securities and Exchange Commission (the “SEC”) for the registration under the Securities Act of 1933, as amended (the “Act”), of such indeterminate number of ordinary shares, warrants to purchase ordinary shares, and units, in one or more offerings for an aggregate initial offering price of up to $50,000,000 on Form F-3. The Form F-3 was declared effective by the SEC on August 16, 2024.

Other Current Assets (Tables)

Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Other Current Assets [Abstract]
Schedule of Other Current Assets	June 30 December 31 2024 2023 Governmental institutions 106,024 233,501 Prepaid expenses 223,969 349,632 Deferred contract costs 334,531 68,427 Other current assets 21,257 - 685,781 651,560

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Lease Expenses	The Company’s lease expenses were as follows: Six months ended June 30, 2024 2023 Lease expense $ 45,736 $ 22,929
Schedule of Other Information Related to Operating Leases	Other information related to the new operating leases as follows: Six months ended June 30, 2024 2023 Weighted-average remaining lease term — operating leases (years) 2.71 0.67 Weighted-average discount rate — operating leases (%) 11.54 6
Schedule of Undiscounted Maturities of Operating Lease Payments	Undiscounted maturities of operating lease payments are summarized as follows: June 30, 2024 $ 102,450 2025 $ 204,900 2026 $ 204,900 2027 $ 42,689 Total undiscounted cash flows $ 554,939 Less: imputed interest $ 68,850 Operaעting lease liabilities $ 486,089

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Other Current Liabilities [Abstract]
Schedule of Other Current Liabilities	June 30 December 31 2024 2023 Employees, salaries and related liabilities 287,397 195,509 Advances from customers 336,964 201,762 Warranty provision 5,793 5,793 Accrued expenses 216,485 287,797 Other expenses 10,608 - 857,247 690,861

Derivatives Warrant Liabiliti_2

Derivatives Warrant Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Derivatives Warrant Liabilities [Abstract]
Schedule of Independent Valuation Expert, Performing Numerous Iterations Using the Black–Scholes Option Price Model, Based on a Probability of an Adjustment Event	The fair value of the series A warrants June 30, December 31, Expected volatility (%) 56.50%-63.21% 55.08%-60.24 Risk-free interest rate (%) 4.35%-4.65% 3.85%-4.05% Expected Life (years) 2-5 2-5 Value per share $0.69 $0.71 Exercise price (U.S. dollars per share) $1.1 $1.1
Schedule of Fair Value Changes of the Series A Warrants	The following table sets forth the fair value changes of the series A warrants during the six months ended June 30, 2024: Balance as of December 31, 2023 1,564,773 Change in fair value (67,227 ) Balance as of June 30, 2024 1,497,546

Shareholders_ Equity (Tables)

Shareholders’ Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Shareholders’ Equity [Abstract]
Schedule of Remaining Outstanding Equity Warrants	As of June 30,2024, the remaining outstanding equity warrants are summarized in the table below: Issuance date In connection with No. of Exercise No. of 2022 Delta Drone Warrants* 111,261 $ 4.00 111,261 2023 IPO Underwriter Warrants 97,500 $ 5.00 97,500 2023 IPO Consultant Warrants 144,606 $ 1.275 144,606
Schedule of the Stock Option Activity	A summary of the stock option activity for the six months ended June 30, 2024 is as follows: Number of Weighted Options outstanding as of December 31, 2023 366,171 $ 1.275 Granted - $ - Forfeited - $ - Options outstanding as of June 30, 2024 366,171 $ 1.275 Options exercisable as of June 30, 2024 - $ -
Schedule of Black-Scholes Option-Pricing Model	The Company used the Black-Scholes option-pricing model to determine the fair value of options granted during 2023. The following assumptions were applied in determining the options’ fair value on their grant date: 2023 Risk-free interest rate 4.51%-4.67% Expected option term (years) 3.8-5 Expected share price volatility 61.1%-66.3% Dividend yield -

General (Details)

General (Details) - USD ($)	Oct. 30, 2023	Jul. 31, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
General [Abstract]
Accumulated losses			$ (20,449,151)	$ (18,423,057)
Shareholders’ equity			$ 4,105,398	$ 6,105,058	$ (1,971,556)	$ (1,641,930)
Gross proceeds	$ 5.1	$ 7,800

Other Current Assets (Details)

Other Current Assets (Details) - Schedule of Other Current Assets - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Schedule of Other Current Assets [Abstract]
Governmental institutions	$ 106,024	$ 233,501
Prepaid expenses	223,969	349,632
Deferred contract costs	334,531	68,427
Other current assets	21,257
Total	$ 685,781	$ 651,560

Leases (Details)

Leases (Details)			6 Months Ended
	Jun. 30, 2024 USD ($)	Feb. 01, 2024 ft²	Jun. 30, 2024 USD ($)	Jun. 30, 2024 ILS (₪)	Mar. 31, 2024	Feb. 29, 2024
Leases [Abstract]
Lease agreement					1 year	2 years
Lease payment | $	$ 50,000
Area of land (in Square Feet)		6,340
Additional area of land (in Square Feet)		260
Number of parking spaces		12
Aggregate rental payment			$ 18,900	₪ 71,000
Lease amount			$ 66,000	₪ 248,000

Leases (Details) - Schedule of

Leases (Details) - Schedule of Lease Expenses - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Company’s Lease Expenses [Abstract]
Lease expense	$ 45,736	$ 22,929

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of Other Information Related to Operating Leases	Jun. 30, 2024	Jun. 30, 2023
Schedule of Other Information Related to Operating Leases [Abstract]
Weighted-average remaining lease term — operating leases	2 years 8 months 15 days	8 months 1 day
Weighted-average discount rate — operating leases	11.54%	6%

Leases (Details) - Schedule o_3

Leases (Details) - Schedule of Undiscounted Maturities of Operating Lease Payments	Jun. 30, 2024 USD ($)
Schedule of Undiscounted Maturities of Operating Lease Payments [Abstract]
2024	$ 102,450
2025	204,900
2026	204,900
2027	42,689
Total undiscounted cash flows	554,939
Less: imputed interest	68,850
Operating lease liabilities	$ 486,089

Other Current Liabilities (Deta

Other Current Liabilities (Details) - Schedule of Other Current Liabilities - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Schedule of Other Current Liabilities [Abstract]
Employees, salaries and related liabilities	$ 287,397	$ 195,509
Advances from customers	336,964	201,762
Warranty provision	5,793	5,793
Accrued expenses	216,485	287,797
Other expenses	10,608
Total	$ 857,247	$ 690,861

Derivatives Warrant Liabiliti_3

Derivatives Warrant Liabilities (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Derivatives Warrant Liabilities [Line Items]
Warrants outstanding	144,606
Exercise price (in Dollars per share) | $ / shares	$ 1.275
Pre-Funded Warrants [Member]
Derivatives Warrant Liabilities [Line Items]
Exercised shares	605,452
Series B Warrant [Member]
Derivatives Warrant Liabilities [Line Items]
Exercised shares	132,116
Series A warrants [Member]
Derivatives Warrant Liabilities [Line Items]
Warrants outstanding	4,636,364
Exercise price (in Dollars per share) | $ / shares	$ 1.1
Common Stock [Member]
Derivatives Warrant Liabilities [Line Items]
Exercised shares	1,088,590
Shares received	131,249
Common Stock [Member] | Private Placement Warrants [Member]
Derivatives Warrant Liabilities [Line Items]
Shares received	601,367

Derivatives Warrant Liabiliti_4

Derivatives Warrant Liabilities (Details) - Schedule of Independent Valuation Expert, Performing Numerous Iterations Using the Black–Scholes Option Price Model, Based on a Probability of an Adjustment Event	Jun. 30, 2024	Dec. 31, 2023
Expected volatility [Member] | Minimum [Member]
Schedule of Independent Valuation Expert, Performing Numerous Iterations Using the Black–Scholes Option Price Model, Based on a Probability of an Adjustment Event [Line Items]
Warrant measurement inputs	56.5	55.08
Expected volatility [Member] | Maximum [Member]
Schedule of Independent Valuation Expert, Performing Numerous Iterations Using the Black–Scholes Option Price Model, Based on a Probability of an Adjustment Event [Line Items]
Warrant measurement inputs	63.21	60.24
Risk-free interest rate [Member] | Minimum [Member]
Schedule of Independent Valuation Expert, Performing Numerous Iterations Using the Black–Scholes Option Price Model, Based on a Probability of an Adjustment Event [Line Items]
Warrant measurement inputs	4.35	3.85
Risk-free interest rate [Member] | Maximum [Member]
Schedule of Independent Valuation Expert, Performing Numerous Iterations Using the Black–Scholes Option Price Model, Based on a Probability of an Adjustment Event [Line Items]
Warrant measurement inputs	4.65	4.05
Expected Life [Member] | Minimum [Member]
Schedule of Independent Valuation Expert, Performing Numerous Iterations Using the Black–Scholes Option Price Model, Based on a Probability of an Adjustment Event [Line Items]
Warrant measurement inputs	2	2
Expected Life [Member] | Maximum [Member]
Schedule of Independent Valuation Expert, Performing Numerous Iterations Using the Black–Scholes Option Price Model, Based on a Probability of an Adjustment Event [Line Items]
Warrant measurement inputs	5	5
Value per share [Member] | Minimum [Member]
Schedule of Independent Valuation Expert, Performing Numerous Iterations Using the Black–Scholes Option Price Model, Based on a Probability of an Adjustment Event [Line Items]
Warrant measurement inputs	0.69	0.71
Value per share [Member] | Maximum [Member]
Schedule of Independent Valuation Expert, Performing Numerous Iterations Using the Black–Scholes Option Price Model, Based on a Probability of an Adjustment Event [Line Items]
Warrant measurement inputs	0.69	0.71
Exercise price [Member] | Minimum [Member]
Schedule of Independent Valuation Expert, Performing Numerous Iterations Using the Black–Scholes Option Price Model, Based on a Probability of an Adjustment Event [Line Items]
Warrant measurement inputs	1.1	1.1
Exercise price [Member] | Maximum [Member]
Schedule of Independent Valuation Expert, Performing Numerous Iterations Using the Black–Scholes Option Price Model, Based on a Probability of an Adjustment Event [Line Items]
Warrant measurement inputs	1.1	1.1

Derivatives Warrant Liabiliti_5

Derivatives Warrant Liabilities (Details) - Schedule of Fair Value Changes of the Series A Warrants - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Fair Value Changes of the Series A Warrants [Abstract]
Balance as of December 31, 2023	$ 1,564,773
Change in fair value	(67,227)
Balance as of June 30, 2024	$ 1,497,546

Shareholders_ Equity (Details)

Shareholders’ Equity (Details) - USD ($)	1 Months Ended	6 Months Ended
	Apr. 30, 2024	Jun. 30, 2024
Shareholders’ Equity [Line Items]
Ordinary shares		610,156
Weighted-average remaining contractual life		4 years 1 month 6 days
Unvested options		366,171
Unrecognized compensation cost- (in Dollars)		$ 170,950
Weighted average period		3 years 2 months 12 days
Intrinsic value (in Dollars)		$ 0
Consultants [Member] | Warrant [Member]
Shareholders’ Equity [Line Items]
Exercised warrants	359,020
Global Share Incentive Plan [Member]
Shareholders’ Equity [Line Items]
Available shares		146,309
Common Stock [Member]
Shareholders’ Equity [Line Items]
Exercised warrants		1,088,590
Received ordinary shares		131,249
Common Stock [Member] | Warrant [Member]
Shareholders’ Equity [Line Items]
Received ordinary shares	355,974

Shareholders_ Equity (Details)

Shareholders’ Equity (Details) - Schedule of Remaining Outstanding Equity Warrants	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Schedule of Remaining Outstanding Equity Warrants [Line Items]
In connection with	IPO Consultant Warrants
No. of warrants issued	144,606
Exercise price per ordinary share (in Dollars per share) | $ / shares	$ 1.275
No. of Ordinary shares underlying warrants	144,606
2022 [Member]
Schedule of Remaining Outstanding Equity Warrants [Line Items]
In connection with	Delta Drone Warrants*	[1]
No. of warrants issued	111,261
Exercise price per ordinary share (in Dollars per share) | $ / shares	$ 4
No. of Ordinary shares underlying warrants	111,261
2023 [Member]
Schedule of Remaining Outstanding Equity Warrants [Line Items]
In connection with	IPO Underwriter Warrants
No. of warrants issued	97,500
Exercise price per ordinary share (in Dollars per share) | $ / shares	$ 5
No. of Ordinary shares underlying warrants	97,500
[1]Warrants issued as part of the Delta Drone transaction with the Former Parent Company and upon the IPO completion.

Shareholders_ Equity (Details_2

Shareholders’ Equity (Details) - Schedule of the Stock Option Activity	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Schedule of the Stock Option Activity [Abstract]
Number of Options, outstanding | shares	366,171
Weighted Average Exercise Price, outstanding | $ / shares	$ 1.275
Number of Options, Granted | shares
Weighted Average Exercise Price, Granted | $ / shares
Number of Options, Forfeited | shares
Weighted Average Exercise Price, Forfeited | $ / shares
Number of Options, outstanding | shares	366,171
Weighted Average Exercise Price, outstanding | $ / shares	$ 1.275
Number of Options, exercisable | shares
Weighted Average Exercise Price, exercisable | $ / shares

Shareholders_ Equity (Details_3

Shareholders’ Equity (Details) - Schedule of Black-Scholes Option-Pricing Model	6 Months Ended
	Jun. 30, 2023
Minimum [Member]
Schedule of Black-Scholes Option-Pricing Model [Line Items]
Risk-free interest rate	4.51%
Expected option term (years)	3 years 9 months 18 days
Expected share price volatility	61.10%
Dividend yield
Maximum [Member]
Schedule of Black-Scholes Option-Pricing Model [Line Items]
Risk-free interest rate	4.67%
Expected option term (years)	5 years
Expected share price volatility	66.30%

Commitments and Contingencies (

Commitments and Contingencies (Details)		6 Months Ended
	Dec. 31, 2019 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 ILS (₪)
Commitments and Contingencies [Line Items]
Long-term restricted deposits amount		$ 68,603	₪ 257,680
Bank of Israel [Member]
Commitments and Contingencies [Line Items]
Bear interest rate		0.72%	0.72%
Israel Innovation Authority [Member]
Commitments and Contingencies [Line Items]
Research and development grant received		300%
Grant received	$ 748,000
Royalties payment		$ 8,000
Israel Innovation Authority [Member] | Minimum [Member]
Commitments and Contingencies [Line Items]
Royalties rate		3%
Israel Innovation Authority [Member] | Maximum [Member]
Commitments and Contingencies [Line Items]
Royalties rate		3.50%
Grant received		$ 616,000

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]	Aug. 09, 2024 USD ($)	Jul. 30, 2024 $ / shares shares	Jul. 24, 2024 ₪ / shares shares
Subsequent Events [Line Items]
Issued and outstanding ordinary shares par value (in New Shekels per share) | ₪ / shares			₪ 0.02
Converted ordinary shares			1
Purchase ordinary shares		112,807
Exercised period		5 years
Per ordinary share (in Dollars per share) | $ / shares		$ 1.275
Aggregate initial offering price (in Dollars) | $	$ 50,000,000
Tranche One [Member]
Subsequent Events [Line Items]
Vesting schedule percentage		50%
Tranche Two [Member]
Subsequent Events [Line Items]
Vesting schedule percentage		6.25%
Minimum [Member]
Subsequent Events [Line Items]
Common Stock, Shares, Issued			5
Maximum [Member]
Subsequent Events [Line Items]
Common Stock, Shares, Issued			20
Global Share Incentive Plan [Member]
Subsequent Events [Line Items]
Aggregate shares purchase		463,848