UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q ~~(Mark~~

(Mark One) ~~[X]~~

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ~~ended June 30, 2010 or [ ]~~ ended: March 31, 2022

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission ~~File Number~~file number: 000-53002 ~~EASY ENERGY, INC. (Exact~~

Raphael Pharmaceutical Inc.

(Exact name of registrant as specified in its charter) Nevada 26-0204284 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Suite 105 - 5348 Vegas Dr., Las Vegas 89108 (Address

Nevada		26-0204284
(State or other jurisdiction		(I.R.S. Employer
of incorporation or organization)		Identification No.)

4 Lui Paster Street

Tel Aviv-Jaffa, Israel 6803605

(Address of principal executive offices) ~~(Zip~~

(Zip Code) ~~+1 (702) 442-1166 (Registrant's~~

(+972) 52-775-5072

(Registrant’s telephone ~~number)~~ number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
N/A		N/A		N/A

Indicate by check mark whether the registrant ~~(l)~~(1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ~~[X]~~☒ No ~~[ ]~~ ☐

Indicate by check mark whether the registrant has submitted electronically ~~and posted on its corporate Web site, if any,~~ every Interactive Data File required to be submitted ~~and posted~~ pursuant to Rule 405 of Regulation S-T ~~(ss.232.405 of this chapter)~~ during the preceding 12 months (or for such shorter period that the registrant was required to submit ~~and post~~ such files). Yes ~~[ ]~~☒ No ~~[ ]~~ ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company. See the definitions of ~~"large~~“large accelerated filer,~~" "accelerated filer"~~” “accelerated filer” “smaller reporting company” and ~~"smaller reporting company"~~“emerging growth company” in Rule 12b-2 of the Exchange Act. ~~(Check one): Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ ]~~

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
		Emerging growth company	☐

If an emerging growth company, ~~[X] (Do~~indicate by check mark if the registrant has elected not ~~check if a smaller reporting company)~~ to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ~~[ ]~~☐ No ~~[X] As~~☒

The number of ~~August 6, 2010, the registrant's~~ shares of the registrant’s common stock, $0.01 par value, ~~$0.00001,~~ outstanding ~~were 103,652,778.~~ as of May 2, 2022: 13,290,540

TABLE OF CONTENTS ~~PART I~~

		Page
	PART I
Item 1.	Financial Statements	F-1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	1
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	5
Item 4.	Controls and Procedures	5

	PART II
Item 1.	Legal Proceedings	6
Item 1A.	Risk Factors	6
Item 6.	Exhibits	6

RAPHAEL PHARMACEUTICAL INC. AND ITS SUBSIDIARY

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF MARCH 31, 2022

UNAUDITED

U.S. DOLLARS IN THOUSANDS

INDEX

		Page

Condensed Consolidated Interim Balance Sheets		F-2

Condensed Consolidated Interim Statements of Comprehensive Loss		F-3

Condensed Consolidated Interim Statements of Changes in Stockholders’ Equity		F-4

Condensed Consolidated Interim Statements of Cash Flows		F-5

Notes to Condensed Consolidated Interim Financial Statements		F-6 – F-8

- - - - - - - - - - -

-F-1-

RAPHAEL PHARMACEUTICAL INC. AND SUBSIDIARY

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS

U.S dollars in thousands (except for share and per share data)

	As of March 31,			As of December 31,
	2022			2021
	(Unaudited)			(Audited)
Assets
Current assets:
Cash and cash equivalents	$	81		$	153
Other current assets		99			269

Total current assets		180			422

Total assets	$	180		$	422

Liabilities and stockholders’ equity

Current liabilities:
Other account payables and accrued expenses		76			272
Payable to related party		1			22

Total current liabilities		77			294

Stockholders’ equity:
Common stock, $0.01 par value:

Authorized: 21,020,560 shares at March 31, 2022 and December 31, 2021;

Issued and outstanding: 13,290,540 and 12,970,540 at March 31, 2022 and December 31, 2021, respectively;		133			130
Additional paid-in capital		2,823			2,665
Accumulated deficit		(2,853	)		(2,667	)

Total stockholders’ equity		103			128

Total liabilities and stockholders’ equity	$	180		$	422

The accompanying notes are an integral part of the condensed consolidated interim financial statements.

-F-2-

RAPHAEL PHARMACEUTICAL INC. AND SUBSIDIARY

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE LOSS

U.S dollars in thousands (except for share and per share data)

	Three months ended March 31,
	2022		2021
	Unaudited

Research and development expenses	$	86	$	169

General and administrative expenses		89		83

Operating loss		175		252

Total financial expense		10		3

Net loss	$	185	$	255

Basic and diluted net loss per share	$	0.01	$	0.02

Weighted average number of shares of common stock used in computing basic and diluted net loss per share (*)		13,035,371		9,459,253

(*) Number of shares has been retroactively adjusted based on the equivalent number of shares received by the accounting acquirer in the reverse recapitalization transaction and to reflect adjustment to the share par value (refer to Note 1a).

The accompanying notes are an integral part of the condensed consolidated interim financial statements.

-F-3-

RAPHAEL PHARMACEUTICAL INC. AND SUBSIDIARY

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (UNAUDITED)

U.S dollars in thousands (except for share and per share data)

	Common stock				Additional paid-in		Accumulated
	Number		Amount		capital		deficit			Total equity

Balance as of January 1, 2022		12,970,540	$	130	$	2,666	$	(2,668	)	$	128

Issuance of common stock and warrants		320,000		3		157		-			160

Net loss		-		-		-		(185	)		(185	)

Balance as of March 31, 2022		13,290,540	$	133	$	2,823	$	(2,853	)	$	103

	Common stock				Additional paid-in		Accumulated
	Number		Amount		capital		deficit			Total equity

Balance as of January 1, 2021 (*)		9,459,253	$	95	$	905	$	(1,043	)	$	(43	)

Net loss		-		-		-		(255	)		(255	)

Balance as of March 31, 2021 (*)		9,459,253	$	95	$	905	$	(1,298	)	$	(298	)

The accompanying notes are an integral part of the condensed consolidated interim financial statements.

-F-4-

RAPHAEL PHARMACEUTICAL INC. AND SUBSIDIARY

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS

U.S dollars in thousands (except for share and per share data)

	Three months ended March 31,
	2022			2021
Cash flows from operating activities

Net loss	$	(185	)	$	(255	)
Adjustments to reconcile net loss to net cash used in operating activities:

Changes in:
Other current assets		170			99
Account payables		(67	)		27

Net cash used in operating activities		(82	)		(129	)

Cash flows from investing activities

		-			-

Net cash provided by investing activities		-			-

Cash flows from financing activities

Issuance of common stock and warrants		10			-
Receipt of a loan		-			44
Net cash provided by financing activities		10			44

Change in cash and cash equivalents		(72	)		(85	)
Cash and cash equivalents at the beginning of the period		153			95

Cash and cash equivalents at the end of the period	$	81		$	10

Non cash supplement
Issuance of common stock and warrants	$	150			-

The accompanying notes are an integral part of the condensed consolidated interim financial statements.

-F-5-

RAPHAEL PHARMACEUTICAL INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION Item 1 - Financial Statements (unaudited).................................... 3 Balance Sheets.......................................................... 3 Statements of Operations................................................ 4 Statements of Cash Flows................................................ 5 Notes to Financial Statements........................................... 6 Item 2 - Management's DiscussionSTATEMENTS (UNAUDITED)

U.S dollars in thousands (except for share and Analysis of Financial Condition and Results of Operations.............................................. 14 Item 3 - Quantitative and Qualitative Disclosures About Market Risk......... 17 Item 4T - Controls and Procedures........................................... 17 PART II - OTHER INFORMATION Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds........ 18 Item 6 - Exhibits........................................................... 18 Signatures.................................................................. 19 2 ~~PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. Easy Energy, Inc. Balance Sheets~~ per share data)

~~June 30, 2010~~
NOTE 1:-	GENERAL

Raphael Pharmaceutical Inc (formerly Easy Energy, Inc.) (the “Company”) was incorporated under the laws of the State of Nevada on May 17, 2007. The Company is headquartered in Tel Aviv-Jaffa, Israel. From April 1, 2011 until December 31, ~~2009 ------------- ----------------- (Unaudited)~~ ASSETS CURRENT ASSETS Cash $ 21,532 $ 105,438 Available for sale marketable securities 2,580 -- Inventory 4,031 3,721 Deposits 134,713 447,865 ----------- ----------- TOTAL CURRENT ASSETS 162,856 557,024 ----------- ----------- OTHER ASSETS Patent -- 8,500 ----------- ----------- TOTAL OTHER ASSETS -- 8,500 ----------- ----------- TOTAL ASSETS $ 162,856 $ 565,524 =========== =========== LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Accounts payable $ 23,992 $ 5,996 Customer deposits 43,617 271,509 Loans payable - related party 153,148 485,199 ----------- ----------- TOTAL CURRENT LIABILITIES 220,757 762,704 LONG TERM LIABILITIES Loans payable - related parties 220,000 -- ----------- ----------- TOTAL LIABILITIES 440,757 762,704 ----------- ----------- STOCKHOLDERS' DEFICIT Preferred stock, $0.0001 par value; 50,000,000 shares authorized; none2019, the Company was not active.

On October 8, 2020, the Company and its stockholders entered into a Share Exchange Agreement (the “Share Exchange”) with an Israeli pharmaceutical company (“Raphael”), according to which, among other matters, all shareholders of Raphael will sell and convey the entire holdings in Raphael to the Company such that following the Share Exchange, the shareholders of Raphael will hold 90% of the issued and outstanding ~~-- -- Common~~common stock ~~$0.00001 par value, 185,000,000 shares authorized; 103,652,778~~of the Company, and ~~101,702,778 shares~~the existing shareholders of the Company will hold the remaining 10% of the issued and outstanding ~~1,037 1,017 Additional paid~~common stock.

On May 14, 2021, the Company’s board of directors and stockholders approved a 1-for-100 reverse split of the Company’s common stock, which was implemented and became effective as of May 14, 2021. The reverse split combined each one hundred (100) shares of the Company’s issued and outstanding Common stock into one share of common stock. No fractional shares were issued in capital 3,474,645 3,347,352 Accumulated Deficit (3,753,582) (3,545,549) ----------- ----------- TOTAL STOCKHOLDERS' DEFICIT (277,901) (197,180) ----------- ----------- TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 162,856 $ 565,524 =========== =========== connection with the reverse split, and any fractional shares resulting from the reverse split were rounded up to the nearest whole share.

On May 14, 2021, Raphael and the Company, completed the Share Exchange pursuant to which 9,459,253 common stock were issued to the shareholders of Raphael so that they became the holders of 90% of the issued and outstanding common stock of the Company immediately after the Share Exchange while the Company’s shareholders hold, following the Share Exchange, 1,051,028 common stock which represents 10% of the Company. On May 19, 2021, as agreed by the parties to the Share Exchange, the Company changed its name to Raphael Pharmaceutical Inc. Following such Share Exchange, Raphael’s activities are the sole activities of the Company.

The Share Exchange was accounted for as a reverse recapitalization which is outside the scope ASC 805, “Business Combinations” (“ASC 805”), as the Company, the legal acquirer, is considered a non-operating public shell, and is therefore not a business as defined in ASC 805. As the shareholders of Raphael received the largest ownership interest in the Company, Raphael was determined to be the “accounting acquirer” in the Share Exchange. As a result, the historical financial statements of the Company were replaced with the financial statement of Raphael for all periods presented.

Going concern and management plans

~~See~~

The accompanying financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Since its inception, the Company has devoted substantially all of its efforts to research and development, clinical trials, and raising capital. The Company is still in its development and clinical stage and has not yet generated revenues. The extent of the Company's future operating losses and the timing of becoming profitable are uncertain. As of March 31, 2022, the Company's accumulated deficit was $2,853. The Company has funded its operations to date primarily through equity financing and the issuance of a loan. Additional funding will be required to complete the Company’s research and development and clinical trials, to attain regulatory approvals, to begin the commercialization efforts of the Company’s product and to achieve a level of sales adequate to support the Company’s cost structure.

-F-6-

RAPHAEL PHARMACEUTICAL INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED)

U.S dollars in thousands (except for share and per share data)

NOTE 1:-

GENERAL (Cont.)

Management’s plans include, but are not limited to, raising capital in the United States. There can be no assurance that it will be able to successfully raise additional financing, including in a public offering, or obtain additional financing on a timely basis or on terms acceptable to the Company, or at all.

Management expects that the Company will continue to generate losses from the development, clinical development and regulatory activities of its product, which will result in negative cash flow from operating activity. This has led management to conclude that substantial doubt about the Company’s ability to continue as a going concern exists in the event that additional funding does not occur. If such sufficient financing is not received timely, the Company will not have sufficient cash flows and liquidity to finance its business operations as currently contemplated and would then need to pursue a plan to license its assets, seek to be acquired by another entity, cease operations and/or seek bankruptcy protection. The Company’s financial statements do not reflect any adjustments that might result from the outcome of this uncertainty.

NOTE 2:-

SIGNIFICANT ACCOUNTING POLICIES

These unaudited interim financial statements should be read in conjunction with the audited financial statements and accompanying notes tofor the year ended December 31, 2021. The significant accounting policies applied in the annual financial statements 3 ~~Easy Energy, Inc. Statements~~ of ~~Operations (Unaudited)~~
Three Months Ended June 30, Six Months Ended June 30, 2010 2009 2010 2009 ------------ ------------ ------------ ------------ SALES $ 49,000 $ -- $ 574,587 $ -- COST OF GOODS SOLD 32,837 -- 381,922 -- ------------ ------------ ------------ ------------ GROSS PROFIT 16,163 -- 192,665 -- ------------ ------------ ------------ ------------ OPERATING EXPENSES Research and development - primarily related party 70,449 169,722 172,145 294,114 General and administrative expenses 68,639 53,969 228,405 312,325 ------------ ------------ ------------ ------------ TOTAL OPERATING EXPENSES 139,088 223,691 400,550 606,439 INTEREST INCOME (427) (39) (148) (549) ------------ ------------ ------------ ------------ NET LOSS $ (123,352) $ (223,730) $ (208,033) $ (606,988) ============ ============ ============ ============ NET LOSS PER COMMON SHARE - BASIC AND DILUTED $ (0.00) $ (0.002) $ (0.00) $ (0.01) ============ ============ ============ ============ WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING DURING THE PERIOD - BASIC AND DILUTED 103,652,777 95,202,777 102,859,959 94,128,744 ============ ============ ============ ============
~~See accompanying notes to~~the Company as of December 31, 2021, are applied consistently in these interim financial ~~statements 4~~ ~~Easy Energy, Inc. Statements of Cash Flows (Unaudited)~~ statements.

Six Months Ended June 30, 2010 2009 --------- --------- CASH FLOWS FROM OPERATING ACTIVITIES Net loss $(208,033) $(606,988) Adjustments to reconcile net loss to net cash used in operating activities: Stock issued for services 25,000 105,000 Options issued for services 22,562 -- Changes in operating assets and liabilities: Impairment loss 8,500 -- Prepaid expenses -- 62,291 Inventory (310) (11,844) Deposits 313,152 -- Accounts payable 17,996 216 Customer deposits (227,892) -- --------- --------- Net Cash Used In Operating Activities (49,025) (451,325) --------- --------- CASH FLOWS FROM INVESTING ACTIVITIES Increase in patent costs -- (8,500) Increase in available for sale marketable securities (2,580) -- --------- --------- Net Cash Used In Investing Activities (2,580) (8,500) --------- --------- CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from related party loans 383,182 324,456 Repayments on related party loans (495,233) -- Proceeds from stock issued for cash 79,750 20,000 --------- --------- Net Cash Provided By (Used In) Financing Activities (32,301) 344,456 --------- --------- Net decrease in cash (83,906) (115,369) Cash
NOTE 3:- beginning of period 105,438 124,533 --------- --------- Cash - end of period $ 21,532 $ 9,164 ========= ========= SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Cash paid during the period for: Interest $ -- $ -- ========= ========= Taxes $ -- $ -- ========= =========	UNAUDITED INTERIM FINANCIAL STATEMENTS

~~See accompanying notes to financial statements 5~~ ~~Easy Energy, Inc. Notes to Financial Statements June 30, 2010 Unaudited NOTE 1 BASIS OF PRESENTATION~~

The accompanying unaudited condensed consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles ~~generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission~~(“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of U.S. Securities and Exchange Commission Regulation S-X. ~~The~~Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included (consisting only of normal recurring adjustments except as otherwise discussed). For further information, ~~as of December 31, 2009~~reference is ~~derived from~~made to the ~~audited~~consolidated financial statements ~~presented~~and footnotes thereto included in the ~~Company's~~Company’s Annual Report on Form 10-K for the year ended December 31, 2009. The unaudited condensed interim financial statements should be read in conjunction with the Company's Annual Report on Form 10-K, which contains the audited financial statements and notes thereto, together with the Management's Discussion and Analysis, for the year ended December 31, 2009. Certain information or footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted, pursuant to the rules and regulations of the Securities and Exchange Commission for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows. It is management's opinion, however, that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statement presentation. The interim2021. Operating results for the ~~period~~three months ended ~~June 30, 2010~~March 31, 2022 are not necessarily indicative of the results that may be expected for the full fiscal year. NOTE 2 NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NATURE OF OPERATIONS Easy Energy, Inc. (the "Company") was incorporated under the laws of the State of Nevada on May 17, 2007. The Company is headquartered in Karmiel, Israel. The Company is in the business of developing and manufacturing battery charging solutions for portable electronic devices. During 2010, the Company emerged from the development stage as operations began. USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America, or U.S. GAAP, requires management 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 revenue and expenses during the reporting period. Actual results could differ from those estimates. 6 Easy Energy, Inc. Notes to Financial Statements June 30, 2010 Unaudited RISKS AND UNCERTAINTIES The Company's operations are subject to significant risk and uncertainties including financial, operational, technological, intense competition, and regulatory risks including the potential risk of business failure. The risk of social and governmental factors is also a concern since the Company operates in Israel and its sole supplier is based in China. See Note 3 regarding going concern matters. INVESTMENTS (A) CLASSIFICATION OF SECURITIES ASC 320, "ACCOUNTING FOR CERTAIN INVESTMENTS IN DEBT AND EQUITY SECURITIES" ("ASC 320"), as amended and interpreted, requires that at the time of purchase, designation of a security as held-to-maturity, available-for-sale or trading depending on ability and intent to hold such security to maturity. Securities classified as trading and available-for-sale are reported at fair value, while securities classified as held-to-maturity are reported at amortized cost. The Company may sell securities as part of the management of the investment portfolio. Accordingly, all securities held at June 30, 2010 are designated as available for sale. Any unrealized gains and losses are reported as other comprehensive income as a component in the statement of stockholders' equity. (B) OTHER THAN TEMPORARY IMPAIRMENT ASC 320 provides guidance on determining when an investment is other than temporarily impaired. The Company reviews its equity investment portfolio for any unrealized losses that would be deemed other-than-temporary and require the recognition of an impairment loss in income. If the cost of an investment exceeds its fair value, the Company evaluates, among other factors, general market conditions, the duration and extent to which the fair value is less than cost, and the Company's intent and ability to hold the investments. Management also considers the type of security, related-industry and sector performance, as well as published investment ratings and analyst reports, to evaluate its portfolio. Once a decline in fair value is determined to be other than temporary, an impairment charge is recorded and a new cost basis in the investment is established. If market, industry, and/or investee conditions deteriorate, the Company may incur future impairments. The Company has not recorded any equity investment losses for the three and six months ended June 30, 2010. INVENTORY Inventory, consisting of finished goods, are stated at the lower of cost or market using the first-in, first-out (FIFO) valuation method. 7 Easy Energy, Inc. Notes to Financial Statements June 30, 2010 Unaudited DEPOSITS The Company purchases its inventory from its suppliers through a letter of credit. The funds are held in banks which are released once the product is ready to be shipped. REVENUE RECOGNITION AND CUSTOMER DEPOSITS The Company records revenue when all of the following have occurred: (1) persuasive evidence of an arrangement exists, (2) the product is delivered, (3) the sales price to the customer is fixed or determinable, and (4) collectability of the related customer receivable is reasonably assured. Sales are recognized upon shipment of products to customers. There is no stated right of return for products, however, in the event that the Company ceases a customer relationship, the Company is obligated to re-purchase any unsold inventory held by the customer. To date, the Company has not had any instance of this occurrence. In the event that there is a defective product, the Company is obligated to replace the defect. To date, the Company has not had any instance of this occurrence. The Company collects a percentage of the sales price from its customers in advance of shipment. Upon shipment, customer deposits become earned revenues. The Company had $43,617 and $271,509 of such deposits on hand as of June 30, 2010 andyear ending December 31, ~~2009, respectively. EARNINGS PER SHARE In accordance with accounting guidance now codified as FASB ASC Topic 260, "EARNINGS PER SHARE," basic earnings (loss)~~2022.

-F-7-

RAPHAEL PHARMACEUTICAL INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED)

U.S dollars in thousands (except for share and per share is computed by dividing net income (loss) by weighted average number of shares of common stock outstanding during each period. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. The Company had the following potential common stock equivalents at June 30, 2010 and December 31, 2009: June 30, 2010 December 31, 2009 ------------- ----------------- Warrants 18,929,440 18,529,440 Options 1,000,000 -- ---------- ---------- Total common stock equivalents 19,929,440 18,529,440 ========== ========== Since the Company reflected a net loss in for the period ended June 30, 2010 and 2009, respectively, the effect of considering any common stock equivalents, if outstanding, would have been anti-dilutive. A separate computation of diluted earnings (loss) per share is not presented. 8 Easy Energy, Inc. Notes to Financial Statements June 30, 2010 Unaudited RECENT ACCOUNTING PRONOUNCEMENTS In January 2010, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2010-06, "IMPROVING DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS ("ASU 2010-06"). ASU 2010-06 amends ASC 820, "FAIR VALUE MEASUREMENTS" ("ASC 820") to require a number of additional disclosures regarding fair value measurements. The amended guidance requires entities to disclose the amounts of significant transfers between Level 1 and Level 2 of the fair value hierarchy and the reasons for these transfers, the reasons for any transfers in or out of Level 3, and information in the reconciliation of recurring Level 3 measurements about purchases, sales, issuances and settlements on a gross basis. The ASU also clarifies the requirement for entities to disclose information about both the valuation techniques and inputs used in estimating Level 2 and Level 3 fair value measurements. The amended guidance was effective for financial periods beginning after December 15, 2009, except the requirement to disclose Level 3 transactions on a gross basis, which becomes effective for financial periods beginning after December 15, 2010. ASU 2010-06 did not have a significant effect on the Company's consolidated financial position or results of operations. NOTE 3 GOING CONCERN As reflected in the accompanying unaudited condensed interim financial statements, the Company has a net loss of $208,033 and net cash used in operations of $49,025 for the six months ended June 30, 2010, and a working capital deficit and stockholders' deficit of $57,901 and $277,901, respectively, at June 30, 2010. The ability of the Company to continue its operations is dependent on Management's plans, which include the raising of capital through debt and/or equity markets with some additional funding from other traditional financing sources, including term loans and notes,data)

NOTE 4:-

SHAREHOLDERS’ EQUITY

On March 2, 2022, the Company raised $10 and issued 50,000 shares of common stock and 30,000 warrants to purchase common stock at an exercise price of $1.25 per share to certain investors of the Company. The warrants were classified as equity and are exercisable until February 28, 2023.

On March 15, 2022, the Company issued 270,000 shares of common stock and 180,000 warrants to purchase common stock at an exercise price of $1.13 per share to Company’s service provider in consideration of past services at the amount of $150. The warrants were classified as equity and are exercisable until such time that funds provided by operations are sufficient to fund working capital requirements. The Company may need to incur additional liabilities with certain related parties to sustain the Company's existence. The Company will require additional funding to finance the growth of its current and expected future operations as well as to achieve its strategic objectives. The Company believes its current available cash along with anticipated revenues may be insufficient to meet its cash needs for the near future. There can be no assurance that financing will be available in amounts or terms acceptable to the Company, if at all. The accompanying unaudited condensed interim financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These accompanying unaudited condensed interim financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern. 9 Easy Energy, Inc. Notes to Financial Statements June 30, 2010 Unaudited NOTE 4 INVESTMENT IN MARKETABLE SECURITIES AND FAIR VALUE ASC 820 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Under GAAP, fair value of such securities is determined based upon a hierarchy that prioritizes the inputs to valuation techniques used to measure fair values into three broad levels. The fair value of the Company's financial assets and liabilities reflects the Company's estimate of amounts that it would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from sources independent from the Company) and to minimize the use of unobservable inputs (the Company's assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. Level 3: Unobservable inputs based on the Company's assessment of the assumptions that market participants would use in pricing the asset or liability. As of June 30, 2010, investment in marketable securities consisted solely of Israeli government bonds, which are classified as available for sale marketable securities and is carried at fair value. Level 1: Level 2: Quoted Prices Quoted Prices in Active in Inactive Level 3: Markets for Markets for Significant Identical Identical Unobservable Total at Assets Assets Inputs June 30, 2010 ------ ------ ------ ------------- Israeli Bonds $ -- $2,580 -- $2,580 ----- ------ ----- ------ Total $ -- $2,580 -- $2,580 ===== ====== ===== ====== 10 Easy Energy, Inc. Notes to Financial Statements June 30, 2010 Unaudited NOTE 5 STOCKHOLDERS' DEFICIT FOR THE SIX MONTHS ENDED JUNE 30, 2010: (A) STOCK AND OPTIONS. On January 26, 2010, the Company issued 500,000 shares of common stock for consulting services, having a fair value of $25,000 ($0.05/share), based upon the quoted closing trading price. In addition the Company granted the consultant 500,000 options at an exercise price of $0.15 per share, which expire three years from issuance. The options vest evenly over a period of 5 months starting February 1, 2010. The Company determined the fair value of these 500,000 options was $17,181. For the six months ended June 30, 2010, the Company expensed $17,181. On May 17, 2010 the Company granted the same consultant an additional 500,000 options at an exercise price of $0.04 per share, which expires three years from issuance. 100,000 options vest immediately upon execution of this agreement, and 100,000 options will vest monthly, on the first day of each month, during the term of this agreement. The Company determined the fair value of these 500,000 options was $13,407. For the six months ended June 30, 2010, the Company expensed $5,362. The Company considered the following assumptions in determining fair value for its 2010 stock option grants: Expected term 3 years Expected volatility 111% - 150% Expected dividends 0% Risk free interest rate 1.30% - 1.40% Expected forfeitures 0% The consultant is also receiving $4,000/month as additional consideration. 11 Easy Energy, Inc. Notes to Financial Statements June 30, 2010 Unaudited The following is a summary of the Company's options that are outstanding and exercisable at June 30, 2010 as follows:

NOTE 5:- ~~June~~

SUBSEQUENT EVENTS

On April 28, 2022, the Company signed an agreement to raise $50 and to issue 300,000 shares of common stock and 100,000 warrants to purchase common stock at an exercise price of $0.7 per share to certain investor of the Company. The warrants are exercisable until April 30, 2010 - outstanding 1,000,000 $ 0.10 2.73 $ 5,000 ========= ======== ===== ======= Balance - June2024.The funds were received in May 2022.

	b.	On April 28, 2022 the Company and a certain investor signed a finder fee agreement according to which the Company will issue to the investor 70,000 shares of common stock and 100,000 warrants to purchase common stock at an exercise price of $0.5 per share. The warrants will be exercisable until April 30, ~~2010 -~~2024. The agreement will become effective once the investor will provide the Company with an equity investment of $550.

	c.	On May 2, 2022, the Company signed several agreements to raise $250 and to issue 250,000 shares of common stock and 100,000 warrants to purchase common stock at an exercise price of $1.13 per share to certain investors of the Company. The warrants are exercisable ~~700,000 $ 0.10 2.73 $ 5,000 ========= ======== ===== =======~~

(B) WARRANTS On March 29, 2010, the Company issued 1,450,000 shares and 400,000 warrants in a private placement for $79,750 ($0.055/share). The warrants expire in two years and have an exercise price of $0.12/share. The following is a summary of the Company's warrants that are outstanding and exercisable at June 30, 2010 is as follows:

12 Easy Energy, Inc. Notes to Financial Statements June 30, 2010 Unaudited NOTE 6 RELATED PARTY TRANSACTIONS (A) DEBT During the six months ended June 30, 2010, the Company received $72,808 in advances from its Chief Executive Officer and an affiliate. These advances were non-interest bearing, unsecured and due on demand. During the six months ended June 30, 2010, the Company repaid $263,689 to the Chief Executive Officer and an affiliate. As a result, the amount due to this individual at June 30, 2010 was $153,148. On March 28, 2010, the Company received $220,000 from family members of a Company director. The loan is non-interest bearing and due January 1, 2012. In the event of default, the Company would be required to issue 4,000,000 shares of common stock at the market price. These loans have been classified as long term. (B) RESEARCH AND DEVELOPMENT The Company paid product development costs to a Company controlled by the Company's Chief Executive Officer: Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2010 June 30, 2009 June 30, 2010 June 30, 2009 ------------- ------------- ------------- ------------- $61,500 $133,300 $150,500 $235,800 NOTE 7 CONCENTRATIONS The Company has the following concentrations for sales and purchases for the six months ended June 30, 2010 and 2009: SALES 2010 2009 ---- ---- A 68% --% B 25% --% PURCHASES 2010 2009 ---- ---- A (RELATED PARTY) 47% 83% B 45% --% C --% 15% 13 ~~ITEM~~

-F-8-

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. FORWARD LOOKING STATEMENTS This Quarterly Report on Form 10-Q for the quarter ended June 30, 2010, or this Quarterly Report, contains certain forward-looking statements. Forward-looking statements may include our statements regarding our goals, beliefs, strategies, objectives, plans, including product and service developments, future financial conditions, results or projections or current expectations. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. Such forward-looking statements appear in this Item 2 - Management'sManagement’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and ~~include statements regarding our expectations regarding our short- and long-term capital requirements, our business plan and estimated expenses for the coming 12 months, and our anticipated launch~~analysis of our ~~YoGen Max(TM) product. These~~financial condition and results of operations should be read in conjunction with the accompanying condensed consolidated financial statements and related notes included elsewhere in this Quarterly Report on Form 10-Q.

On May 14, 2021, Raphael Pharmaceutical Ltd., an Israeli company, and Easy Energy, Inc., a Nevada corporation, completed a share exchange agreement, or the Share Exchange, pursuant to which the shareholders of Raphael Pharmaceutical Ltd. became the holders of 90% of the issued and outstanding share capital of Easy Energy, Inc., while Easy Energy, Inc.’s shareholders hold, following the share exchange, 10% of Easy Energy, Inc. On May 19, 2021, as agreed by the parties to the Share Exchange, Easy Energy, Inc. changed its name to Raphael Pharmaceutical Inc. Unless otherwise mentioned or unless the context requires otherwise, when used in this prospectus, the terms “Raphael,” “Company,” “we,” “us,” and “our” refer to Raphael Pharmaceutical Inc. and its subsidiary, Raphael Pharmaceutical Ltd., or Raphael Israel. References to Easy Energy are to Easy Energy, Inc. Unless otherwise mentioned or unless the context requires otherwise, the information provided in this Quarterly Report on Form 10-Q relates to Raphael Israel.

Forward-Looking Statements

This Quarterly Report on Form 10-Q contains “forward-looking statements,” which include information relating to future events, future financial performance, strategies, expectations, competitive environment and regulation. Words such as “may,” “will,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, as well as statements in future tense, identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved. Forward-looking statements are based on information we have when those statements are made or our management’s good faith belief as of that time with respect to future events and are subject to ~~known~~risks and ~~unknown risks,~~ uncertainties ~~assumptions and other factors~~ that ~~may~~could cause actual performance or results to bediffer materially ~~different~~ from those ~~contemplated~~expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to:

	●	the regulatory pathways that we may elect to utilize in seeking U.S. Food and Drug Administration, or FDA, European Medicines Agency, or EMA, and other regulatory approvals, if any;

	●	obtaining (and the cost thereof) FDA and EMA approval of, or other regulatory action in Europe or the United States and elsewhere with respect to our product candidates;

	●	the commercial launch and future sales of our product candidates and our advancement of product candidates for other indications in our pipeline;

	●	the potential cost of our rheumatoid arthritis product candidate, or RA and RA product candidate, respectively, for patients;

	●	our expectations regarding the timing of commencing clinical trials;

	●	our expectations regarding the supply of the active pharmaceutical ingredient for our product candidates;

	●	third-party payor reimbursement for our product candidates;

	●	our estimates regarding anticipated expenses, capital requirements and our needs for additional financing;

	●	completion and receiving favorable results of clinical trials for our product candidates;

	●	the filing by us, and the subsequent issuance of patents to us, by the U.S. Patent and Trademark Office and other governmental patent agencies;

	●	our expectations regarding the impact of the COVID-19 pandemic, including on our planned clinical trials, operations and financial position;

The foregoing does not represent an exhaustive list of matters that may be covered by the forward-looking statements contained herein or risk factors that we are faced with that may cause our actual results to differ from those anticipated in our forward-looking statements. For a discussion of these and other risks that relate to our business and ~~operations of Easy Energy, Inc. are subject~~investing in our common stock, you should carefully review the risks and uncertainties described in this Quarterly Report on Form 10-Q, and those described from time to ~~substantial risks, which increase~~time in our future reports filed with the ~~uncertainty inherent in the~~Securities and Exchange Commission. The forward-looking statements contained in this Quarterly ~~Report. Except as required~~Report on Form 10-Q are expressly qualified in their entirety by ~~law, we~~this cautionary statement. We do not undertake noany obligation to ~~release~~ publicly ~~the result of~~update any ~~revision to these~~ forward-looking ~~statements that may be made~~statement to reflect events or circumstances after the date ~~hereof~~on which any such statement is made or to reflect the occurrence of unanticipated events. ~~Further information~~

Overview

We are a pharmaceutical drug research and development company focused on ~~potential factors that could affect~~the discovery and clinical development of life-improving drug therapies based on cannabinoids, including cannabidiol, or CBD, oil. Unless indicated otherwise, we plan on using oil derived from cannabidiol, or CBD, strains with low levels of Tetrahydrocannabinol, or THC. All references to the use of CBD in our ~~business is described Item 1A. "Risk Factors"~~product candidates refer to CBD strains with less than 0.3% of THC.

We are currently in the pre-clinical development stage for our ~~Annual Report on Form 10-K~~lead product candidate, our rheumatoid arthritis, or RA, product candidate for the ~~fiscal year ended December 31, 2009. Readers~~treatment of RA. In addition, we are ~~also urged~~aiming to ~~carefully review~~develop a pharmaceutical drug product for the treatment of hyperinflammatory syndrome inflammation related to COVID-19, or our COVID-19 product candidate, which may be based on data or studies related to our RA product candidate. Our goal is to become a leader in development of CBD oil-based pharmaceutical drug products for the treatment of indications in which we believe there is a high unmet medical need in a range of disorders, including those related to inflammation in the body, including RA and ~~consider the various disclosures we have made in this Quarterly Report. Easy Energy, Inc. (referred to in this Quarterly Report as "Easy Energy", "us", "we" and "our")~~COVID-19.

The Company was incorporated ~~under the laws of~~in the State of Nevada in May 2007 and was formerly known as Easy Energy, Inc. On May 14, 2021, Easy Energy and Raphael Israel completed the Share Exchange, as a result of which, Raphael Israel’s shareholders own 90% of our Company and Easy Energy’s shareholders hold the remaining 10%. Raphael Israel was incorporated in 2019 in the State of Israel and has focused to date on ~~May 17, 2007.~~developing its lead product candidate for the treatment of RA. Easy Energy did not have any ongoing business or operations before the Share Exchange and following the Share Exchange we adopted Raphael Israel’s business plan.

Initially, we intend to obtain approvals for our product candidates from the FDA and Medical Cannabis Unit of the Ministry of Health of Israel. Upon obtaining FDA approvals, or in the event that we are not successful in obtaining such approvals, we intend to apply for EMA and other countries’ governmental regulatory agencies approvals for our product candidates. If we are successful in obtaining FDA approvals for our product candidates, we intend to enter into royalty agreements with good manufacturing practice, or GMP, approved medical manufactures and distributors, having them using our medical formulas strains for the purpose of growing, cultivating, manufacturing, and distributing Raphael Pharmaceutical medical indications in their designated territories.

Critical Accounting Policies

Our financial statements are prepared in accordance with US GAAP. There are no critical accounting estimates for the years ended December 31, 2021 and 2020. Also, please see Note 2 of Part I, Item 1 of this Quarterly Report on Form 10-Q for the summary of significant accounting policies.

Results of Operations

Three months ended March 31, 2022 compared to the three months ended March 31, 2021

Revenues. We had no revenues during the three months ended March 31, 2022 and March 31, 2021.

Research and Development Expenses. Our research and development expenses totaled $86,000 for the three months ended March 31, 2022, representing a decrease of $83,000, or 49%, compared to $169,000 for the three months ended March 31, 2021. The decrease was primarily attributable to the decrease in pre-clinical trial expenses.

General and Administrative Expenses. Our general and administrative expenses totaled $89,000 for the three months ended March 31, 2022, representing a increase of $6,000, or 7%, compared to $83,000 for the three months ended March 31, 2021. The increase was primarily due to lower professional services expenses in 2021.

Operating Loss. Our operating loss totaled $175,000 for the three months ended March 31, 2022, representing a decrease of $77,000, or 30%, compared to $252,000 for the three months ended March 31, 2021.

Financial Expense. We recognized financial expense of $10,000 for the three months ended March 31, 2022, representing an increase of $7,000, or 233%, compared to $3,000 for the three months ended March 31, 2021. The increase was primarily due to an increase in exchange rate differences.

Net Loss. As a result of the foregoing, our loss totaled $185,000 for the three months ended March 31, 2022, representing a decrease of $70,000, or 27%, compared to $255,000 for the three months ended March 31, 2021.

Liquidity and Capital Resources

Since inception, we have funded our operations primarily through our founder’s capital and capital received from Easy Energy. As of March 31, 2022, we had $81,000 in cash and cash equivalents, and have invested most of our available cash funds in ongoing cash accounts.

Net cash used in operating activities was $82,000 for the three months period ended March 31, 2022, compared with net cash used in operating activities of $129,000 for the same period in 2021. The $47,000 decrease in the net cash used in operating activities during 2022, compared to 2021, was primarily the result of $70,000 decrease in net loss.

Net cash used in investing activities for the three months period ended March 31, 2022 and for the same period in 2021 was zero.

Net cash provided by financing activities for the three months period ended March 31, 2022 was $10,000 compared to $44,000 for the same period in 2021. The decrease in net cash provided by financing activities during 2022 compared to 2021 was mainly due to increase in proceeds from issuance of Common Stock at the amount of $10,000 which was offset by a receipt of a loan in 2021 at the amount of $44,000.

Off Balance Sheet Arrangements

Rambam Research Agreement

Pursuant to the Research Agreement with Rambam MT, the Company agreed to fund a research project, to be performed by Rambam MT, with a research plan aimed at identifying the effects of different cannabis strains on the function of immune cells. On October 28, 2020, the Company and Rambam MT agreed to expand the research plan to study the anti-inflammatory activities of cannabis extracts in an RA mouse model. On February 15, 2021, the Company and Rambam MT agreed to further expand the research plan to study the effect of cannabis extracts on the immunopathology of the COVID-19 disease. The Research Agreement is for an initial term of 48 months.

Pursuant to the Research Agreement, we agreed to pay Rambam $1.4 million in four equal payments, due on the first day of August on each successive year from 2019 through 2022. Furthermore, in accordance with the terms of the Research Agreement, we and Rambam MT will have joint ownership of any IP created as a result of research programs covered by such agreement. In connection with the Research Agreement, Rambam MT agreed not to work, study or develop any technologies with other entities that compete with our work with Rambam MT for our COVID-19 product candidate or RA product candidate for a term of three and seven years, respectively, from the end of the parties’ collaboration with respect to the COVID-19 product candidate and seven years from the end of the term of the Research Agreement with respect to the RA product candidate.

Subject to commercial sales of any product candidate using the IP created as a part of the research covered by such agreement, Raphael Israel is required to pay Rambam MT a royalty in an amount equal to 6% of all net sales, subject to certain deductions, such as taxes paid by any purchaser, transportation and shipping costs, and other customary deductions.

As of March 31, 2022, the Company has made three of the four equal payments due pursuant to the Research Agreement, for a total amount of $1,050,000.

Way of Life Cannabis Agreement

In October 2020, Raphael Israel entered into an engagement agreement with Wolc, pursuant to which, subject to its completing the Share Exchange with Easy Energy, Raphael Israel will be provided with up to 15 liters of CBD oil, from a strain of cannabis during a term of 18 months, to be provided in two to three deliveries of between one to seven milliliters of CBD oil. In accordance with Raphael Israel’s agreement with Wolc, Raphael Israel has agreed to issue to certain persons affiliated with Wolc 3% of Raphael’s issued and outstanding share capital as of the date of the Share Exchange, to be provided in three equal issuances; provided, however, that such persons may elect to receive a cash payment of $100,000 instead of any one issuance of Raphael’s shares. In addition to the issuance of shares, Raphael Israel has also agreed to pay Wolc a royalty fee equal to 15% of the net royalties generated from sales of Raphael Israel’s pharmaceutical drug products that are ~~an early stage company. We currently~~developed at Rambam hospital in Israel.

Except for the above, we have no employees other than our Chief Executive Officer and Chief Financial Officer, who are also our only board members. Our principal executive office is located at Suite 105 - 5348 Vegas Dr., Las Vegas, Nevada 89108. Our telephone number is (702) 442-1166. We also have officesnot engaged in ~~Israel at 40 Baz St. Karmiel, Israel 20100, Tel. No. +972-4-988 8314.~~ any off-balance sheet arrangements, such as the use of unconsolidated subsidiaries, structured finance, special purpose entities or variable interest entities.

We do not believe that our off-balance sheet arrangements and commitments have ~~any subsidiaries.~~ or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Current Outlook

We ~~are~~have financed our operations to date primarily through proceeds from our founder’s capital and capital received from Easy Energy. We have incurred losses and generated negative cash flows from operations since inception in 2019. To date we have not generated revenue, and we do not expect to generate significant revenues from the ~~sole owner~~sale of the YoGen(R) product suite of compact man-powered generators, which are designed to provide an innovative and effective solution to the currently underserved need of the almost limitless users of portable electronics devices for a power source that will ensure those devices' ability to operate in circumstances in which conventional recharging sources are unavailable. Includedour products in the product line are the basic YoGen, a slim, pocket-sized charger for small devices such as cell phones, GPS, iPods, etc., which is operated by a convenient pull-cord, and the recently prototyped YoGen Max, which is intended to replace a conventional cell phone battery and provide pull-cord charging capability without the need for a stand-alone charger. near future.

We completed the design and began to market the YoGen during 2009. Our principal business plan is to continue to manufacture and market the YoGen product and to seek third party entities interested in licensing the rights to manufacture and market a man-powered charger. Our target market consists of consumers of disposable and rechargeable batteries, those who heavily depend on their portable devices, especially cell phone users, and those who are looking for "green" energy sources. We additionally plan to continue to develop the YoGen Max and other devices in the YoGen product line. During the fiscal period ending December 31, 2009 we completed the design of the YoGen(R) and YoGen Max and started mass production of the YoGen for sale to our manufacturer's representatives and global distributors. In January 2010, we officially launched the YoGen to the North American markets at the 2010 International Consumer Electronics Show in Las Vegas, Nevada. The YoGen was given an award as "Best of CES 2010". The Company expects to introduce the YoGen Max for sale into the global marketplace during the second half of 2010. Due to the uncertainty of our ability to meetdo not believe that our current cash on hand will be sufficient to fund our projected operating and capital expenses, in its report on our audited financial statements for the period ended December 31, 2009, our independent registered public accounting firm included an explanatory paragraph regardingrequirements. This raises substantial doubt about our ability to continue as a going concern. ~~Our~~At this time, there is no guarantee that we will be able to obtain an adequate level of financial ~~statements contain additional note disclosures describing~~resources required for the ~~circumstances that lead to this disclosure by our independent registered public accounting firm. 14~~ RESULTS OF OPERATIONS - THREE MONTHS ENDED JUNE 30, 2010 COMPARED TO THE THREE MONTHS ENDED JUNE 30, 2009 REVENUES AND COSTS OF REVENUES During the three months ended June 30, 2010 we achieved sales of $49,000 compared to $0 in June 30, 2009. The increase in revenues is attributable to salesshort and long-term support of our ~~YoGen product~~operations or that we will be able to ~~global distributors~~obtain additional financing as ~~we have emerged from our development stage. Cost~~needed, or meet the conditions of revenues for the three months ended June 30, 2010 was $32,837 compared to $0 for the three months ended June 30, 2009. The increase is attributable to sales of our YoGen product to global distributors. RESEARCH AND DEVELOPMENT Research and development costs for the three months ended June 30, 2010 decreased to $70,449 from $169,722 for the three months ended June 30, 2009. The decrease is primarily attributable to a decrease in the amount spent on development of our YoGen product, offset by an increase in the amount spent on development of our new YoGen Max product and our YoGen BAT, as well as an increase in our patent expenses. GENERAL AND ADMINISTRATIVE General and administrative expenses for the three months ended June 30, 2010 increased to $68,639 from $53,969 for the three months ended June 30, 2009. The decrease is primarily attributable to a decrease in legal expenses, offset by an increase in travel and accounting fees. NET LOSS We incurred a loss of $123,352 for the three months ended June 30, 2010 compared to $223,730 for the three months ended June 30, 2009. Net loss per share from operations for the three months ended June 30, 2010 and 2009 was $0 and $0.00, respectively. The decrease in net loss for the three months ended June 30, 2010 is primarily attributable to the revenues from sales of our YoGen product to global distributors and a decrease in research and development expenses, offset by the increase insuch financing, or that the costs of ~~revenues. RESULTS OF OPERATIONS - SIX MONTHS ENDED JUNE 30, 2010 COMPARED TO THE SIX MONTHS ENDED JUNE 30, 2009 REVENUES AND COSTS OF REVENUES During~~such financing may not be prohibitive. These conditions raise substantial doubt about our ability to continue as a going concern for a period within one year from the ~~six months ended June 30, 2010 we achieved sales~~date of ~~$574,587 compared to $0 as of June 30, 2009. The increase~~the financial statements included elsewhere in revenues is attributable to sales of our YoGen product to global distributors as we have emerged from our development stage. Cost of revenues for the six months ended June 30, 2010 was $381,922 compared to $0 for the six months ended June 30, 2009. The increase is attributable to sales of our YoGen product to global distributors. RESEARCH AND DEVELOPMENT Research and development costs for the six months ended June 30, 2010 decreased to $172,145 from $294,114 for the six months ended June 30, 2009. The decrease is primarily attributable to a decrease in the amount spent on development of our YoGen product, offset by an increase in the amount spent on development of our new YoGen Max product and our YoGen BAT, as well as an increase in our patent expenses. 15 GENERAL AND ADMINISTRATIVE General and administrative expenses for the six months ended June 30, 2010 decreased to $228,405 from $312,325 for the six months ended June 30, 2009. The decrease is primarily attributable to a decrease in marketing, consulting and legal expenses, offset by an increase in travel, accounting and public relation fees. NET LOSS We incurred a loss of $208,033 for the six months ended June 30, 2010 compared to $606,988 for the six months ended June 30, 2009. Net loss per share from operations for the three months ended June 30, 2010 and 2009 was $0 and $0.01, respectively. The decrease in net loss for the six months ended June 30, 2010 is primarily attributable to the revenues from sales of our YoGen product to global distributors, a decrease in research and development expenses and a decrease in general and administrative expenses, offset by the increase in the costs of revenues. LIQUIDITY AND CAPITAL RESOURCES this prospectus.

As of ~~June 30, 2010, total current assets~~March 31, 2022, our cash and cash equivalents were ~~$162,856~~$81,000. We believe that our existing cash and total current liabilities were $220,757, resulting in a working capital deficit of $57,901. We finance our operations and plan to continue doing so with a combination of stock issuances, loans and revenues from product sales. Our loans have come from our Chief Executive Officer and an affiliate entity as described in Note 6 to the financial statements. Cash on hand as of June 30, 2010 was $21,532. Our cash resources at June 30, 2010 resulted from a long-term loan of $220,000 described below and stock issued in a private placement transaction of $79,750 described below, offset by a decrease in shareholder loans and net loss in the six months ended June 30, 2010. Operating activities used cash of $49,025 during the six months ended June 30, 2010. Cash generated from operating activities in the six months ended June 30, 2010 resulted primarily from a $313,152 decrease in deposits maintained by the Company with various manufacturers prior to the completion of inventory held for resale, due to sale of inventory by the Company, $25,000 stock issuance for services and a $17,996 increase in accounts payable, offset by a $208,033 net loss and a $227,892 decrease of customers' deposits, which resulted from the increase of sales described above. Investing activities used cash of $2,580 during the six months ended June 30, 2010 as a result of purchasing available for sale marketable debt securities. Financing activities used cash of $32,301 during the six months ended June 30, 2010. Cash generated from financing activities for the six month period ended June 30, 2010 resulted primarily from $383,182 in short-term and long-term related party loans and the issuance of common stock and warrants of $79,750, offset by $495,233 of repayments of related party loans. On March 29, 2010, certain investors purchased 1,450,000 of our common shares at a price of $0.055 per share and 400,000 warrants for aggregate proceeds of $79,750. Each warrant is exercisable into one common share at an exercise price of $0.12 for a two-year period expiring March 29, 2012. Our current loan from a related party as of June 30, 2010 decreased to $153,148 compared to $485,199 as of December 31, 2009. The decrease is attributable to our payment of a portion of the loan back to the related party. The outstanding $153,148 constitutes advances from our Chief Executive Officer, which advances are non-interest bearing, unsecured and due on demand. Our long term loans payable to related parties as of June 30, 2010 increased to $220,000 compared to $0 as of December 31, 2009. On March 28, 2010, the Company received the $220,000 non-interest bearing loan due January 1, 2012 from family members of Mr. Emanuel Cohen, a director of the Company. In the event of default, the Company would be required to issue 4,000,000 shares of common stock on the default date. For a further discussion of our loans from related parties, please see the section captioned "Management's Discussion and Analysis of Financial Condition and Results of Operations -- Related Person Transactions" in our Annual Report on Form 10-K for the year ended December 31, 2009. 16 ~~GOING CONCERN We have generated revenues since inception but they were not an adequate source of cash to fund future operations. Our current cash may~~equivalents will not be sufficient to ~~meet~~fund our ~~anticipated~~projected cash requirements through September 2022. Therefore, we will require significant additional financing in the near future to fund our operations. We currently anticipate that we will require approximately $0.6 million for research and development activities over the course of the next 12 months. We ~~believe~~also anticipate that we will require approximately $1.4 million for capital expenditures over such 12-month period, which consists primarily of expenditures for clinical trials and general Company operating costs.

In addition, our operating plans may change as a result of many factors that may currently be unknown to us, and we may need to seek additional funds sooner than planned. Our future ~~growth~~capital requirements will depend ~~upon~~on many factors, including:

●

our research and development efforts, including our ability to finish research and development projects or product development within the allotted or expected timeline;

	●	the cost, timing and outcomes of seeking to commercialize our products in a timely manner;

	●	our ability to generate cash flows;

	●	economic weakness, including inflation, or political instability in particular foreign economies and markets;

	●	government regulation in our industry, and more specifically, the costs and timing of obtaining regulatory approval or permits to launch our technology in various geographical markets; and

	●	the costs of, and timing for, strengthening our manufacturing agreements for production of our wave energy systems.

In addition to the ~~success~~foregoing, based on our current assessment, we do not expect any material impact on our long-term liquidity due to the COVID-19 pandemic. However, we will continue to assess the effect of the pandemic to our ~~sales. There is no assurance, however,~~operations. The extent to which the COVID-19 pandemic will impact our business and operations will depend on future developments that are highly uncertain and cannot be predicted with confidence, such ~~growth~~as the duration of the COVID-19 pandemic, any restrictions on the ability of hospitals and trial sites to conduct trials that are not designed to address the COVID-19 pandemic and the perceived effectiveness of actions taken in Israel, the United States and Europe and other countries to contain and treat the disease. While the potential economic impact brought by COVID-19 may be ~~achieved. Our future sustainability also depends on~~difficult to assess or predict, a widespread pandemic could result in significant disruption of global financial markets, reducing our ability to ~~raise sufficient~~access capital in the future. In addition, a recession or long-term market correction resulting from the spread of COVID-19 could materially affect our business and the value of our Common Stock.

Until we can generate significant revenues, if ever, we expect to ~~meet~~satisfy our future ~~expenses, either by making additional private placement offerings of~~cash needs through our ~~stock, incurring additional~~existing cash, cash equivalents and short-term deposits, loans, or debt or ~~a combination of stock and debt offerings. It is likely~~equity financings. We cannot be certain that ~~we will need to raise~~ additional working capital to fund our ongoing operations and growth. The amount of our future capital requirements depends primarily on the rate at which we increase our revenues and correspondingly decrease our use of cash to fund operations. Cash used for operationsfunding will be ~~affected by numerous known and unknown risks and uncertainties including, but not limited~~available to our ability to successfully market our products and services and the degree to which competitive products and services are introduced to the market. As long as our cash flow from operations remains insufficient to completely fund operations, we will continue depleting our financial resources and seeking additional capital through equity and/or debt financing. If we raise additional capital through the issuance of debt, this will result in increased interest expense. If we raise additional funds through the issuance of equity or convertible debt securities, the percentage ownership of our company held by existing stockholders will be reduced and those stockholders may experience significant dilution. In addition, new securities may contain rights, preferences or privileges that are senior to those of our common stock. There can be no assurance thatus on acceptable ~~financing to fund our ongoing operations can be obtained on suitable~~ terms, if at all. If wefunds are ~~unable to obtain the financing necessary to support our operations,~~not available, we may be ~~unable~~required to delay, reduce the scope of, or eliminate research or development plans for, or commercialization efforts with respect to, one or more applications of our products. This may raise substantial doubts about our ability to continue as a going concern. ~~In that event,~~

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

Not applicable.

Item 4. Controls and Procedures

Management’s Conclusions Regarding Effectiveness of Disclosure Controls and Procedures

As of March 31, 2022, we ~~may be forced to cease operations~~conducted an evaluation, under the supervision and participation of management including our ~~stockholders could lose their entire investment~~chief executive officer and chief financial officer, of the effectiveness of our disclosure controls and procedures (as defined in our Company. OFF-BALANCE SHEET ARRANGEMENTS We do not have any off-balance sheet arrangements, including any outstanding derivative financial statements, off-balance sheet guarantees, interest rate swap transactions or foreign currency contracts. We do not engage in trading activities involving non-exchange traded contracts. ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. Not applicable. ITEM 4T. CONTROLS AND PROCEDURES. As required by Rule ~~13a-15 under~~13a-15(e) and Rule 15d-15(e) of the Securities Exchange Act of 1934, as ~~amended, or the 1934 Act, as of the end of the period covered by this Quarterly Report, being the fiscal quarter ended June 30, 2010, we have carried out an evaluation of~~amended). There are inherent limitations to the effectiveness of ~~the design and operation~~any system of ~~our~~ disclosure controls and procedures. This evaluation was carried out under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer. Based upon the results of that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of the period covered by this Quarterly Report, ourAccordingly, even effective disclosure controls and procedures ~~were ineffective, as they did not~~can only provide reasonable assurance ~~that material information related to us is recorded, processed~~of achieving their control objectives.

Based upon this evaluation, our chief executive officer and reported in a timely manner. Our small size makes the proper identification and authorization of transactions difficult, as we have essentially only two individuals overseeing this process. Given our small size, we also have difficulties with separation of duties for handling, approving and coding invoices, entering transactions into the accounts, writing checks and requests for wire transfers. Additionally, our officers are also our sole board members. This does not provide an adequate level of layers of internal controls, which in turn make it difficult to accumulate information required to be disclosed by us in the reports that we file or submit under the 1934 Act. Based on the foregoing, our Chief Executive Officer and Chief Financial Officerchief financial officer concluded that our disclosure controls and procedures ~~were ineffective~~are effective at the reasonable assurance level as of ~~June 30, 2010.~~ March 31, 2022.

Changes in Internal Control over Financial Reporting

There ~~was~~were no ~~change to~~changes in our internal control over financial reporting ~~that occurred~~ during the fiscal quarter ended ~~June 30, 2010~~March 31, 2022, that ~~has~~ materially affected, or isare reasonably likely to materially affect, our internal control over financial reporting. 17

PART II - OTHER INFORMATION ~~ITEM~~

Item 1. Legal Proceedings

There have been no material changes to our legal proceedings as described in “Item 3. Legal Proceedings” in our Annual Report on Form 10-K filed with the SEC on March 30, 2022.

Item 1A. Risk Factors

There have been no material changes to our risk factors from those disclosed in “Item 1A. Risk Factors” in our Annual Report on Form 10-K filed with the SEC on March 30, 2022.

Item 2. ~~UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. On May 17, 2010, we issued options to purchase 500,000 shares~~Unregistered Sales of ~~our common stock, at an exercise price per share~~Equity Securities and Use of ~~$0.04 and a determined fair value~~Proceeds.

Set forth below are the sales of ~~$13,407, to a consultant of~~all securities by the Company ~~for services to us. The options expire~~in the three ~~years from issuance. This issuance was deemed exempt under Regulation S and/or Regulation D~~months ended March 31, 2022, which were not registered under the Securities Act of 1933, as amended, or the Securities Act. The Company believes that each of such issuances was exempt from registration under the Securities Act in reliance on Section 4(a)(2) of the Securities Act and/or ~~Section 4(2)~~Regulation S under the Securities Act.

On March 2, 2022, the Company raised $10,000 and issued 50,000 shares of Common Stock and 30,000 warrants to purchase shares of Common Stock at an exercise price of $1.25 per share to certain investors of the ~~Act. ITEM~~Company. The warrants are exercisable until February 28, 2023.

On March 15, 2022, the Company issued 270,000 shares of Common Stock and 180,000 warrants to purchase Common Stock at an exercise price of $1.13 per share to the Company’s service provider in consideration of past services at the amount of $150,000. The warrants are exercisable until December 31, 2023.

Item 6. EXHIBITS. Exhibit Number Exhibit Description - -------------- ------------------- 31.1 Rule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer* 31.2 Rule 13a-14(a)/15d-14(a) Certification of Principal Financial Officer* 32.1 Section 1350 Certification of Principal Executive Officer** 32.2 Section 1350 Certification of Principal Financial Officer** - ---------- * Filed herewith. ** Furnished herewith. 18 Exhibits

EXHIBIT INDEX

Exhibit No.		Description

31.1*		Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a).

31.2*		Certification of Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a).

32.1*		Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350.

32.2*		Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350.

101.INS		Inline XBRL Instance Document

101.SCH		Inline XBRL Taxonomy Extension Schema Document

101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document

101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document

101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document

104*		Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)

Filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. EASY ENERGY, INC. By: /s/ Guy Ofir ---------------------------------------- Guy Ofir, Chief Executive Officer (Principal Executive Officer) Dated: August 6, 2010 By: /s/ Emanuel Cohen ---------------------------------------- Emanuel Cohen, Chief Financial Officer (Principal Financial and Accounting Officer) Dated: August 6, 2010 19

	RAPHAEL PHARMACEUTICAL INC.

Date: May 16, 2022	By:	/s/ Shlomo Pilo
	Name:	Shlomo Pilo
	Title:	Chief Executive Officer (Principal Executive Officer)

Date: May 16, 2022	By:	/s/ Guy Ofir
	Name:	Guy Ofir
	Title:	Chief Financial Officer (Principal Financial Officer)

iso4217:USD xbrli:shares