Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2022 shares | |
Document Information Line Items | |
Entity Registrant Name | Medigus Ltd. |
Trading Symbol | MDGSW |
Document Type | 20-F |
Current Fiscal Year End Date | --12-31 |
Entity Common Stock, Shares Outstanding | 24,661,470 |
Amendment Flag | false |
Entity Central Index Key | 0001618500 |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Non-accelerated Filer |
Entity Well-known Seasoned Issuer | No |
Document Period End Date | Dec. 31, 2022 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | FY |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
ICFR Auditor Attestation Flag | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 001-37381 |
Entity Incorporation, State or Country Code | L3 |
Entity Address, Address Line One | 10 Hanechoshet |
Entity Address, Address Line Two | 4th Floor |
Entity Address, City or Town | Tel-Aviv |
Entity Address, Postal Zip Code | 6971072 |
Entity Address, Country | IL |
Title of 12(b) Security | Ordinary Shares, no-par value (2) Series C Warrants |
Security Exchange Name | NASDAQ |
Entity Interactive Data Current | Yes |
Document Accounting Standard | International Financial Reporting Standards |
Auditor Firm ID | 1197 |
Auditor Name | Brightman Almagor Zohar & Co |
Auditor Location | Tel Aviv, Israel |
Business Contact [Member] | |
Document Information Line Items | |
Entity Address, Address Line One | 10 Hanechoshet |
Entity Address, Address Line Two | 4th Floor |
Entity Address, City or Town | Tel-Aviv |
Entity Address, Postal Zip Code | 6971072 |
Entity Address, Country | IL |
Contact Personnel Name | Tali Dinar |
City Area Code | +972 |
Local Phone Number | 73-370-4691 |
Contact Personnel Fax Number | +972 72 260-2249 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
CURRENT ASSETS: | |||
Cash and cash equivalents | $ 20,065 | $ 24,025 | |
Short term deposit | 859 | ||
Restricted cash | 185 | ||
Trade accounts receivable | 21,449 | 408 | |
Other receivables and prepaid expenses | 1,928 | 415 | |
Inventory | 1,791 | 1,227 | |
Loans to associates | 546 | 1,265 | |
Loans to others | 1,011 | ||
Related party prepaid expenses | 999 | ||
Related parties | 298 | ||
Financial assets at fair value through profit or loss | 4,126 | 3,315 | |
Total current assets | 52,258 | 31,654 | |
NON-CURRENT ASSETS: | |||
Property and equipment, net | 408 | 77 | |
Right-of-use assets, net | 591 | ||
Investments accounted for using the equity method | 11,892 | 17,240 | |
Intangible assets, net | 30,862 | 8,321 | |
Deferred offering costs | 836 | ||
Deferred tax asset | 397 | ||
Financial assets at fair value through profit or loss | 1,243 | 1,602 | |
Total non-current Assets | 45,393 | 28,076 | |
TOTAL ASSETS | 97,651 | 59,730 | |
Trade accounts payable | 20,421 | 702 | |
Short term loans | 5,111 | 816 | |
Short term related party loan | 111 | ||
Current portion of long-term loans | 1,500 | ||
Current portion of long-term related party payable | 506 | ||
Lease liabilities | 131 | ||
Warrants at fair value | 396 | 692 | |
Contract liability | 49 | 108 | |
Liability to event producers | 1,654 | 1,556 | |
Derivative liabilities | 4,159 | ||
Related parties | 1,055 | 616 | |
Accrued expenses and other current liabilities | 3,151 | 1,532 | |
Total current liabilites | 37,627 | 6,639 | |
Lease liabilities | 512 | ||
Long-term loans | 2,881 | ||
Loans from related parties | 689 | ||
Long-term related party payable | 711 | ||
Deferred tax liability | 1,817 | 236 | |
Accrued severance pay, net | 125 | 22 | |
Total non-current liabilities | 5,335 | 1,658 | |
TOTAL LIABILITIES | 42,962 | 8,297 | |
Share capital – ordinary shares with no par value: authorized – December 31,2022 – 200,000,000 and December 31, 2021 – 50,000,000 shares; issued and outstanding – December 31, 2022 – 24,661,470 shares December 31, 2021 – 23,850,128 shares | [1] | ||
Share premium | 111,322 | 110,562 | |
Other capital reserves | 13,208 | 12,619 | |
Warrants | 197 | 197 | |
Accumulated deficit | (85,586) | (74,188) | |
Equity attributable to owners of Medigus Ltd. | 39,141 | 49,190 | |
Non-controlling interests | 15,548 | 2,243 | |
Total Equity | 54,689 | 51,433 | |
TOTAL LIABILITIES AND EQUITY | $ 97,651 | $ 59,730 | |
[1] Share and per share data in these financial statements have been retrospectively adjusted, for all periods presented, to reflect a number of shares that is equivalent to the number of shares of the Company post the Reverse Split (see note 14a(7)). |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Position (Parentheticals) - $ / shares | Dec. 31, 2022 | Dec. 31, 2021 |
Statement of financial position [abstract] | ||
Ordinary shares, par value (in Dollars per share) | ||
Ordinary shares, shares authorized | 200,000,000 | 50,000,000 |
Ordinary shares, shares issued | 24,661,470 | 23,850,128 |
Ordinary shares, shares outstanding | 24,661,470 | 23,850,128 |
Consolidated Statements of Inco
Consolidated Statements of Income/Loss and Other Comprehensive Income/Loss - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Revenue | |||||
Products | $ 5,861 | $ 8,933 | $ 491 | ||
Services | 85,997 | 1,185 | 40 | ||
Revenue | 91,858 | 10,118 | 531 | ||
Cost of revenues: | |||||
Products | 5,059 | 4,938 | 988 | ||
Services | 72,347 | 379 | 46 | ||
Cost of revenues | 77,406 | 5,317 | 1,034 | ||
Gross profit (loss) | 14,452 | 4,801 | (503) | ||
Research and development expenses | 4,853 | 1,045 | 997 | ||
Sales and marketing expenses | 4,006 | 1,988 | 471 | ||
General and administrative expenses | 14,174 | 9,964 | 5,494 | ||
Net change in fair value of financial assets at fair value through profit or loss | 2,544 | (713) | (797) | ||
Share of net loss of associates accounted for using the equity method | 2,659 | 2,149 | 170 | ||
Amortization of excess purchase price of associates | 263 | 546 | |||
Operating loss | (13,784) | (9,895) | (7,384) | ||
Gain upon loss of control in a subsidiary | (11,465) | ||||
Gain from initial recognition of assets and liabilities upon consolidation of Gix Internet | (2,300) | ||||
Loss (gain) from sale of investments | 127 | (2,025) | |||
Other income | (45) | (494) | |||
Changes in fair value of warrants issued to investors | (159) | (484) | (338) | ||
Changes in fair value of warrants issued to third party investors by a consolidated subsidiary | (3,619) | 75 | |||
Financial (income) loss, net | 2,309 | 347 | (205) | ||
Profit (loss) before taxes on income | (10,097) | 4,151 | (6,841) | ||
Tax expense | (111) | (105) | (9) | ||
Net profit (loss) for the year | (10,208) | 4,046 | (6,850) | ||
Items that may be reclassified to profit or loss | |||||
Share of other comprehensive income of consolidated subsidiaries and associates accounted for using the equity method | 460 | 191 | 8 | ||
Items that will not be reclassified to profit or loss | |||||
Share of other comprehensive income (loss) of consolidated subsidiaries and associates accounted for using the equity method | (29) | 27 | |||
Other comprehensive income for the year | 460 | 162 | 35 | ||
Total comprehensive income (loss) for the year | (9,748) | 4,208 | (6,815) | ||
Net profit (loss) for the year is attributable to: | |||||
Owners of Medigus | (9,815) | 6,794 | (4,325) | ||
Non-controlling interests | (393) | (2,748) | (2,525) | ||
Net profit (loss) for the year | (10,208) | 4,046 | (6,850) | ||
Total comprehensive income (loss) for the year is attributable to: | |||||
Owners of Medigus | (9,503) | 6,881 | (4,278) | ||
Non-controlling interests | (245) | (2,673) | (2,537) | ||
TOTAL COMREHENSIVE LOSS FOR THE YEAR | $ (9,748) | $ 4,208 | $ (6,815) | ||
Basic (in Dollars per share) | $ (0.4) | $ 0.2 | $ (0.6) | ||
Diluted (in Dollars per share) | $ (0.4) | $ 0.2 | $ (0.6) | ||
Basic (in Shares) | 24,385 | 23,036 | [1] | 6,672 | [1] |
Diluted (in Shares) | 24,385 | 23,036 | [1] | 6,672 | [1] |
[1] Share and per share data in these financial statements have been retrospectively adjusted, for all periods presented, to reflect a number of shares that is equivalent to the number of shares of the Company post the Reverse Split (see note 14a(7)). |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) $ in Thousands | Ordinary shares | Share premium | Capital reserves from options granted | Other reserves | Capital reserves from transactions with non- controlling interests | Currency translation differences | Warrants | Accumulated deficit | Total | Non- controlling interests | Total | |
Balance at Dec. 31, 2019 | $ 22,802 | $ 47,873 | $ 1,351 | $ 525 | $ 11,761 | $ (1,145) | $ 197 | $ (76,657) | $ 6,707 | $ 1,424 | $ 8,131 | |
Income (Loss) for the year | (4,325) | (4,325) | (2,525) | (6,850) | ||||||||
Other comprehensive income (loss) | 20 | 27 | 47 | (12) | 35 | |||||||
TOTAL COMPREHENSIVE LOSS FOR THE YEAR | 20 | 27 | (4,325) | (4,278) | (2,537) | (6,815) | ||||||
TRANSACTIONS WITH SHAREHOLDERS: | ||||||||||||
Purchase of a subsidiary | 381 | 381 | ||||||||||
Issuance of shares and warrants | 53,278 | (35,369) | (3,766) | 3,632 | 17,775 | 17,775 | ||||||
Exercise of warrants | 16,941 | (12,596) | (3,632) | 713 | 713 | |||||||
Issuance of shares and warrants by the Subsidiary | 1,956 | 1,956 | 2,632 | 4,588 | ||||||||
Conversion into shares and warrants of loan granted to the Subsidiary | (136) | (136) | 136 | |||||||||
Share in capital reserve of an associate | 33 | 33 | 33 | |||||||||
Stock-based compensation in connection with options granted to employees and service providers | 191 | 191 | 1,197 | 1,388 | ||||||||
Expiration of options | 92 | (92) | ||||||||||
TOTAL TRANSACTIONS WITH SHAREHOLDERS | 70,219 | (47,873) | 99 | (1,913) | 20,532 | 4,346 | 24,878 | |||||
Balance at Dec. 31, 2020 | 93,021 | 1,450 | 545 | 9,848 | (1,118) | 197 | (80,982) | 22,961 | 3,233 | 26,194 | ||
Income (Loss) for the year | 6,794 | 6,794 | (2,748) | 4,046 | ||||||||
Other comprehensive income (loss) | (29) | 116 | 87 | 75 | 162 | |||||||
TOTAL COMPREHENSIVE LOSS FOR THE YEAR | (29) | 116 | 6,794 | 6,818 | (2,673) | 4,208 | ||||||
TRANSACTIONS WITH SHAREHOLDERS: | ||||||||||||
Deemed contributions to Jeffs’ Brands | 108 | (421) | (313) | 529 | 216 | |||||||
Deemed contribution to an affiliate | 10 | 10 | 10 | |||||||||
Issuance of shares and warrants | 49,398 | (32,062) | 17,336 | 17,336 | ||||||||
Cancellation of par value | (142,419) | 142,419 | ||||||||||
Consolidation of Jeffs’ Brands | 71 | 71 | 1,156 | 1,227 | ||||||||
Exercise of warrants issued by ScoutCam | 264 | 264 | 518 | 782 | ||||||||
Issuance of shares by Eventer | 717 | 717 | 1,138 | 1,855 | ||||||||
Loss of control in ScoutCam | (2,760) | (2,760) | ||||||||||
Subsidiaries’ share-based compensation to employees and service providers | 1,102 | 1,102 | ||||||||||
Share based compensation to employees and service providers | 60 | 1,203 | 1,263 | 1,263 | ||||||||
Expiration of options | 74 | (74) | ||||||||||
TOTAL TRANSACTIONS WITH SHAREHOLDERS | (93,021) | 110,562 | 1,129 | 118 | 560 | 19,348 | 1,683 | 21,031 | ||||
Balance at Dec. 31, 2021 | [1] | 110,562 | 2,579 | 634 | 10,408 | (1,002) | 197 | (74,188) | 49,190 | 2,243 | 51,433 | |
Income (Loss) for the year | [1] | (9,815) | (9,815) | (393) | (10,208) | |||||||
Other comprehensive income (loss) | [1] | 312 | 312 | 148 | 460 | |||||||
TOTAL COMPREHENSIVE LOSS FOR THE YEAR | [1] | 312 | (9,815) | (9,503) | (245) | (9,748) | ||||||
TRANSACTIONS WITH SHAREHOLDERS: | ||||||||||||
Issuance of warrants and shares by Gix Internet | [1] | (567) | (567) | 682 | 115 | |||||||
Deemed contributions to Jeffs’ Brands | [1] | 148 | (598) | (450) | 743 | 293 | ||||||
Issuance of shares in consideration for investments | [1] | 900 | 900 | 900 | ||||||||
Issuance of shares by Eventer | [1] | (12) | (12) | 11 | (1) | |||||||
Consolidation of Gix Internet | [1] | (144) | (144) | 7,849 | 7,705 | |||||||
Subsidiaries’ share-based compensation to employees and service providers | [1] | 102 | 102 | |||||||||
Share based compensation to employees and service providers | [1] | 685 | 685 | 685 | ||||||||
Amendment of long-term related party payable by Eventer | [1] | 167 | 167 | 253 | 420 | |||||||
Issuance of shares and warrants by Jeffs’ Brands upon completion of IPO | [1] | 504 | 504 | 5,885 | 6,389 | |||||||
Dividend | [1] | (1,583) | (1,583) | (1,583) | ||||||||
Dividends declared by subsidiaries | [1] | (2,021) | (2,021) | |||||||||
Reorganization transaction by Gix Internet | [1] | (46) | (46) | 46 | ||||||||
Expiration of options | [1] | 4 | (4) | |||||||||
TOTAL TRANSACTIONS WITH SHAREHOLDERS | [1] | 760 | 681 | 315 | (719) | (1,583) | (546) | 13,550 | 13,004 | |||
Balance at Dec. 31, 2022 | [1] | $ 111,322 | $ 3,260 | $ 949 | $ 9,689 | $ (690) | $ 197 | $ (85,586) | $ 39,141 | $ 15,548 | $ 54,689 | |
[1] Share and per share data in these financial statements have been retrospectively adjusted, for all periods presented, to reflect a number of shares that is equivalent to the number of shares of the Company post the Reverse Split (see note 14a(7)). |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of cash flows [abstract] | |||
Cash flows used in operations (see Appendix A) | $ (4,428) | $ (5,067) | $ (6,263) |
Interest received | 7 | 17 | |
Dividend received | 171 | 120 | |
Interest paid | (1,019) | (53) | (8) |
Income tax paid | (380) | (137) | (9) |
Net cash flow used in operating activities | (5,656) | (5,250) | (6,143) |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchase of property and equipment | (74) | (141) | (324) |
Payments for acquisitions of associates and financial assets at fair value through profit or loss (note 4 and note 5) | (5,099) | (4,703) | (1,818) |
Deconsolidation of ScoutCam upon loss of control (Appendix C and note 4C) | (3,252) | ||
Consolidation of subsidiaries upon gain of control (Appendix E and note 4F, Appendix D and note 4E, Appendix B and note 4D) | 2,737 | 240 | 541 |
Purchase of intangible assets (note 10 and supplemental disclosure of cash flow information) | (5,003) | ||
Exercise of warrants issued by an associate (note 4C) | (234) | ||
Loans to associates (note 4F, note 4I, note 4M, note 4N) | (660) | (1,236) | |
Loans to others (note 7b) | (1,018) | ||
Proceeds from sale of financial assets at fair value through profit of loss and securities of an associate (note 5, note 4G) | 453 | 1,883 | |
Changes in short term deposits | (815) | ||
Net cash flow used in investing activities | (4,476) | (12,446) | (1,601) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Proceeds from issuance of shares and warrants by subsidiaries, net of issuance costs (note 4E, note 4F) | 12,567 | 1,388 | 4,587 |
Receipt of short-term loans (note 4E, note 4F) | 1,752 | 981 | |
Repayment of short-term loans (note 4E, note 4F) | (2,520) | (1,336) | |
Receipt of long-term loans (note 4E) | 940 | ||
Repayment of long-term loans (note 4F) | (1,974) | ||
Repayment of related party debt (note 4D) | (163) | (159) | |
Dividend (note 4F, note 14(d)) | (4,186) | ||
Principal elements of lease liability | (66) | (46) | |
Proceeds from issuance of shares and warrants and from exercise of warrants, net of issuances costs (note 14) | 17,336 | 18,405 | |
Net cash flow generated from financing activities | 5,410 | 19,150 | 22,946 |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (4,722) | 1,454 | 15,202 |
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 24,025 | 22,363 | 7,036 |
GAINS FROM EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS | 762 | 208 | 125 |
BALANCE OF CASH AND CASH EQUIVALENTS AT END OF YEAR | 20,065 | 24,025 | 22,363 |
Income (Loss) for the year before taxes on income | (10,097) | 4,151 | (6,841) |
Depreciation and amortization | 3,237 | 320 | 167 |
Net loss (income) from change in the fair value of financial assets at fair value through profit or loss | 2,544 | (714) | (797) |
Changes in fair value of warrants | (159) | (484) | (338) |
Changes in fair value of warrants issued to third party investors by a consolidated subsidiary | (3,619) | 75 | |
Share of net loss of associates accounted for using the equity method | 2,659 | 2,149 | 170 |
Finance expenses (income) | 2,254 | 102 | (117) |
Amortization of excess purchase price of associates | 263 | 546 | |
Dividend received | (171) | (120) | |
Interest received | (7) | (17) | |
Interest paid | 1,019 | 53 | 8 |
Income tax paid | 380 | 137 | 9 |
Share based compensation to employees and service providers | 787 | 2,362 | 1,388 |
Gain from initial recognition of assets and liabilities upon consolidation of Gix Internet (note 4F) | (2,300) | ||
Gain arising from deconsolidation of a subsidiary upon loss of control (note 4C) | (11,465) | ||
Loss (Gain) from sales of securities of an investment (note 5) | 155 | (2,026) | |
Impairment of intangible asset | 89 | ||
Increase in trade accounts receivable | (7,838) | (239) | (74) |
Decrease (increase) in other current assets | (122) | 231 | (440) |
Increase in trade accounts payable | 5,837 | 1,033 | 602 |
Increase (decrease) in accrued compensation expenses | (22) | 18 | (28) |
Increase (decrease) in accrued expenses and other current liabilities | (171) | 272 | 92 |
Decrease (increase) in deferred offering costs | 1,763 | (836) | |
Increase in inventory | (564) | (551) | (473) |
CASH FLOWS USED IN OPERATIONS | (4,428) | (5,067) | (6,263) |
Right of use assets obtained in exchange for lease liabilities | 152 | ||
Non-cash investment in Gix Internet and Gix Media (note 4F) | 4,417 | ||
Issuance of shares in exchange for media and advertising services rights (note 4E) | 1,250 | ||
Purchase of a software license on credit (note 4D) | 35 | 1,346 | |
Increase in Screenz payable balance due to modification into a debt (note 4D) | 115 | ||
Deferred offering costs included in other current liabilities | 423 | ||
Dividend included in other payables | 580 | ||
Decrease in long-term related party payable in exchange for advertising services (note 4D) | 656 | ||
Substantial modification of shareholders loans recorded in equity (note 4E) | 222 | ||
Issuance of ordinary shares upon conversion of shareholders loans (note 4E) | 587 | ||
Non-cash investment in Laminera (note 4N) | 400 | ||
Non-cash investment in ClearMind (note 4O) | $ 500 |
Additional Information of Conso
Additional Information of Consolidated Statements of Cash Flows - USD ($) $ in Thousands | Feb. 28, 2022 | Mar. 31, 2021 | Jan. 04, 2021 | Oct. 15, 2020 |
Eventer Ltd | ||||
Other receivables | $ 35 | |||
Property and equipment, net | 1 | |||
Goodwill | 296 | |||
Technology – net | 199 | |||
Trade payable | (2) | |||
Liability to event producers | (689) | |||
Non-controlling interest | (381) | |||
Net cash acquired | $ (541) | |||
ScoutCam Inc | ||||
Property and equipment, net | $ (370) | |||
Lease liability- long term | 144 | |||
ScoutCam investment at fair value | 11,843 | |||
ScoutCam warrants | 97 | |||
Derecognition of non-controlling interests | 2,760 | |||
Gain arising from deconsolidation upon loss of control | (11,562) | |||
Net cash deconsolidated upon loss of control | 3,252 | |||
Consolidation of Gix Internet upon gain of control: | ||||
Net working capital other than cash | $ 340 | |||
Jeffs’ Brands Ltd | ||||
Net working capital other than cash and inventory | $ (1,576) | |||
Intangible assets | 1,312 | |||
Related party loans fair value adjustment | 98 | |||
Inventory | 778 | |||
Deferred tax liability | (188) | |||
Non-controlling interests | (1,156) | |||
Non-cash consideration | (71) | |||
Goodwill | 563 | |||
Net cash acquired | $ (240) | |||
Gix Internet Ltd | ||||
Intangible assets | $ 17,705 | |||
Deferred tax liability | (1,999) | |||
Goodwill | 8,164 | |||
Non-controlling interest | (7,849) | |||
Net cash acquired | (2,736) | |||
Consolidation of Gix Internet upon gain of control: | ||||
Net working capital other than cash | 646 | |||
Accrued severance pay, net | (125) | |||
Derecognition of investments accounted for using the equity method | (4,606) | |||
Rights of use assets, property and equipment, net | 888 | |||
Lease liabilities | (570) | |||
Short- term borrowings | (6,296) | |||
Long- term borrowings | (6,394) | |||
Gain arising from consolidation upon gain of control | $ (2,300) |
General
General | 12 Months Ended |
Dec. 31, 2022 | |
General [Abstract] | |
GENERAL | NOTE 1 – GENERAL A. Medigus Ltd. (the “Company” or “Medigus”) was incorporated in Israel on December 9, 1999. The Company’s registered office and principal place of business are located in Israel. The address of its registered office is Hanehoshet 10, 4th Floor, Tel-Aviv POB 6971072, Israel. The Company, together with its subsidiaries and associates, operates in the technology sector, focusing on medical-related devices and products (through its associate Polyrizon), on visualization and AI based solutions (through its associate ScoutCam), on internet related activities (through its subsidiaries Eventer and Gix Internet), on e-commerce (through its subsidiary Jeffs’ Brands), on safety systems for commercial drones (through its associate Parazero), on energy efficiency technology (through its associate Laminera) and on the electric vehicle sector (through its subsidiary Charging Robotics). Additionally, through its corporate, the Company is engaged in the licensing of intellectual property relating to its legacy product, the Medigus Ultrasonic Surgical Endostapler (“MUSE”), to Golden Grand Medical Instruments Ltd., a China based medical services provider, and in the investment of its excess cash resources, primarily in equity securities. “Group” – the Company together with, Jeffs’ Brands Ltd., Charging Robotics Ltd., GERD IP, Inc., Eventer Technologies Ltd. and Gix Internet Ltd. “Subsidiaries” – entities under the control of the Company. ScoutCam Inc. ScoutCam Inc (“ScoutCam”) has executed a number of capital raising transactions during 2021 and 2023, of which the last was a private placement that occurred on March 21, 2023 (see note 21(4)). The private placement during 2021 diluted the Company’s holdings in ScoutCam and lead to a deconsolidation of ScoutCam and the remaining holdings were accounted for under the equity method. The private placement during 2023 diluted the Company’s holdings in ScoutCam and the remaining holdings were accounted for as investment at fair value through profit or loss (FVTPL). For additional information, see note 4C. GERD IP Inc. On January 13, 2020, together with the Company’s advisor Mr. Kfir Zilberman, the Company formed a subsidiary in Delaware, of which the Company holds 90% of the stock capital, under the name GERD IP Inc. (“GERD IP”). The Company transferred certain of its patents in consideration for seven capital notes issued to the Company by GERD IP in the amount of USD 2,000 thousand each. For additional information, see note 4Q. Eventer Technologies Ltd. As of December 31, 2022, the Company holds approximately 46.21% of the issued and outstanding share capital of Eventer Technologies Ltd. (“Eventer”). Eventer is a technology company engaged in the development of tools for automatic creation, management, promotion, and billing of events and ticketing sales. For additional information, see note 4D. Gix Internet Ltd. On February 28, 2022, the Company purchased additional shares of Gix Internet Ltd. (“Gix Internet”) and the Company holdings interests in Gix Internet increased to 38.03% and as of this date the Company started to consolidate Gix Internet. As of December 31, 2022, the Company holds 42.25% of the issued and outstanding share capital of Gix Internet. For additional information, see note 4F. Charging Robotics Ltd. On January 7, 2021, the Company entered into an agreement to purchase a provisional patent filed with the United States Patent and Trademark Office and know-how relating to wireless vehicle battery charging technology. Furthermore, the Company entered into a collaboration agreement with the seller, whereby the Company committed to invest in a newly incorporated wholly owned subsidiary of the Company, Charging Robotics Ltd. (“Charging Robotics”), incorporated on February 1, 2021, which will focus on the Company’s new electric vehicle and wireless charging activities. On February 19, 2021, the Company entered into a venture agreement with Amir Zaid, Weijian Zhou and Charging Robotics, under which the Company formed a venture, under the name Revoltz Ltd., or Revoltz, to develop and commercialize three modular electric vehicle (EV) micro mobility vehicles for urban individual use and “last mile” cargo delivery. For additional information, see note 4I. Jeffs’ Brands Ltd. On October 8, 2020, the Company entered into a common stock purchase agreement with Smart Repair Pro, Inc. (“Pro”), Purex, Corp. (“Purex”), and their respective stockholders (the “Pro and Purex SPA”). Pro and Purex both are in the e-Commerce field and operate online stores for the sale of various consumer products on the Amazon online marketplace. The transactions contemplated in the Pro and Purex SPA closed on January 4, 2021. On May 16, 2021, the Company entered into a stock exchange and plan of restructuring agreement with Victor Hakmon, the other shareholder of Pro and Purex, and Jeffs’ Brands Ltd. (“Jeffs’ Brands”), a newly incorporated entity, pursuant to which, among other things, the Company and Victor Hakmon transferred all their holdings in Pro and Purex to Jeffs’ Brands, in return for a consideration of Jeffs’ Brands ordinary shares that were issued respectively. As a result, Pro and Purex became wholly owned subsidiaries of Jeffs’ Brands. On August 30, 2022, as a result of an initial public offering of Jeffs’ Brands (“IPO”), and the closing of a portion of the underwriter’s over-allotment option, Jeffs’ Brands received aggregate gross proceeds of approximately USD 15.5 million before deducting underwriting discounts and other estimated offering expenses. As of December 31, 2022, the Company holds 35.94% of the issued and outstanding share capital of Jeffs’ Brands. For additional information, see note 4E. Interests in other entities As of December 31, 2022, the Company also holds 40.35% in Parazero Technologies Ltd. (“Parazero”) (see note 4M), 37.03% in Polyrizon Ltd. (“Polyrizon”) (see note 4H), 35.06% in Fuel Doctor Holding Inc. (“Fuel Doctor”) (see note 4L), 19.7% in Laminera Flow Optimization Ltd. (“Laminera”) (formerly known as ABI Energy Ltd.) (see note 4N), 5.72% in Elbit Imaging Ltd. (“Elbit Imaging”) (see note 4J), 6.46% in Automax Ltd. (“Automax”) (formerly known as Matomy Ltd.) (see note 4G), 5.77% in ClearMind Medicine, Inc. (“ClearMind”) (see note 4O), 1.6% in SciSparc Ltd. (“SciSparc”) (see note 4K), 2.35% in Safee Cyber Technologies Ltd. (“Safee”) (see note 4P), 1.28% in Maris-Tech Ltd. (“Maris”), 0.97% in Colugo Systems Ltd. (“Colugo”), 0.47% in Safe Foods, Inc. ( “SAFO”) and 0.67% in Tondo Smart Ltd. (“Tondo”) and 1.49% in Bubbles Intergroup Ltd. (“Bubbles”). The Company’s ordinary shares were listed on the Tel Aviv Stock Exchange Ltd. (“TASE”) from February 2006 until January 25, 2021, when the Company voluntarily delisted its shares from trading on the TASE. As of May 20, 2015, the Company’s American Depository Shares (“ADSs”) evidenced by American Depositary Receipts (“ADRs”) are listed on the Nasdaq Capital Market. The Company’s depositary agent for the ADR program is the Bank of New York Mellon. The Company’s Series C Warrants have been traded on Nasdaq Capital Market since July 2018. B. As of the approval date of these financial statements, the Company has cash and cash equivalents in the amount of USD 4.9 However, since inception, the Company’s activities have been funded mainly by its shareholders. Furthermore, in the recent years the Company has suffered recurring losses from operations, negative cash flows from operating activities, and has an accumulated deficit as of December 31, 2022. As such, the Company’s ability to continue operating may be dependent on several factors, amongst which is its ability to raise sufficient additional funding, which funding may not necessarily be available to the Company, obtained on terms favorable to the Company, or provide the Company with sufficient funds to meet its objectives. C. Russia-Ukraine War In late February 2022, Russia invaded Ukraine. As military activity proceeds and sanctions, export controls and other measures are imposed against Russia, Belarus and specific areas of Ukraine, the war is increasingly affecting the global economy and financial markets, as well as exacerbating ongoing economic challenges, including rising inflation and global supply-chain disruption. Although the group do not have direct suppliers based in Russia or Ukraine, additional supply delays and possible shortages of critical components may arise as the conflict progresses and if certain suppliers’ operations and/or subcomponent supply from affected countries are disrupted further. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Significant Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES: A. Basis of accounting The financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The financial statements have been prepared on the historical cost basis, except for the revaluation of certain financial instruments that are measured at revalued amounts or fair values at the end of each reporting period, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for goods and services. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the Group takes into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. Fair value for measurement and/or disclosure purposes in these consolidated financial statements is determined on such a basis, except for share-based payment transactions that are within the scope of IFRS 2, leasing transactions that are within the scope of IFRS 16, and measurements that have some similarities to fair value but are not fair value, such as net realizable value in IAS 2 Inventories Impairment of Assets The consolidated financial statements were authorized for issuance by the Board of Directors on May 3, 2023. The significant accounting policies set out below have been consistently applied to in the preparation of these consolidated financial statements for all years presented, unless otherwise stated. B. Basis of consolidation The consolidated financial statements incorporate the financial statements of the Company and entities controlled by the Company (its subsidiaries) made up to 31 December each year. Control is achieved when the Company: ● Has the power over the investee. ● Is exposed, or has rights, to variable returns from its involvement with the investee. ● Has the ability to use its power to affect its returns. The Company reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. When the Company has less than a majority of the voting rights of an investee, it considers that it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The Company considers all relevant facts and circumstances in assessing whether or not the Company’s voting rights in an investee are sufficient to give it power, including: ● The size of the Company’s holding of voting rights relative to the size and dispersion of holdings of the other vote holders. ● Potential voting rights held by the Company, other vote holders or other parties. ● Rights arising from other contractual arrangements. ● Any additional facts and circumstances that indicate that the Company has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders’ meetings. Consolidation of a subsidiary begins when the Company obtains control over the subsidiary and ceases when the Company loses control of the subsidiary. Specifically, the results of subsidiaries acquired or disposed of during the year are included in the consolidated statements of income/loss and other comprehensive income/loss from the date the Company gains control until the date when the Company ceases to control the subsidiary. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with the Group’s accounting policies. All intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between the members of the Group are eliminated on consolidation. Non-controlling interests in subsidiaries are identified separately from the Group’s equity therein. Those interests of non-controlling shareholders that are present ownership interests entitling their holders to a proportionate share of net assets upon liquidation may initially be measured at fair value or at the non-controlling interests’ proportionate share of the fair value of the acquiree’s identifiable net assets. The choice of measurement is made on an acquisition-by-acquisition basis. Other non-controlling interests are initially measured at fair value. Subsequent to acquisition, the carrying amount of non-controlling interests is the amount of those interests at initial recognition plus the non-controlling interests’ share of subsequent changes in equity. Profit or loss and each component of other comprehensive income are attributed to the owners of the Company and to the non-controlling interests. Total comprehensive income of the subsidiaries is attributed to the owners of the Company and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance. Changes in the Group’s interests in subsidiaries that do not result in a loss of control are accounted for as equity transactions. The carrying amount of the Group’s interests and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiaries. Any difference between the amount by which the noncontrolling interests are adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the Company. When the Group loses control of a subsidiary, the gain or loss on disposal recognized in profit or loss is calculated as the difference between (i) the aggregate of the fair value of the consideration received and the fair value of any retained interest and (ii) the previous carrying amount of the assets (including goodwill), less liabilities of the subsidiary and any non-controlling interests. All amounts previously recognized in other comprehensive income in relation to that subsidiary are accounted for as if the Group had directly disposed of the related assets or liabilities of the subsidiary (i.e., reclassified to profit or loss or transferred to another category of equity as required/permitted by applicable IFRS Accounting Standards). The fair value of any investment retained in the former subsidiary at the date when control is lost is regarded as the fair value on initial recognition for subsequent accounting under IFRS 9 Financial Instruments C. Business combinations Acquisitions of businesses are accounted for using the acquisition method. The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the acquisition-date fair values of assets transferred by the Group, liabilities incurred by the Group to the former owners of the acquiree and the equity interest issued by the Group in exchange for control of the acquiree. Acquisition-related costs are recognized in profit or loss as incurred. At the acquisition date, the identifiable assets acquired and the liabilities assumed are recognized at their fair value at the acquisition date, except that: ● Deferred tax assets or liabilities and assets or liabilities related to employee benefit arrangements are recognized and measured in accordance with IAS 12 Income Taxes Employee Benefits ● Liabilities or equity instruments related to share-based payment arrangements of the acquiree or share-based payment arrangements of the Group entered into to replace share-based payment arrangements of the acquiree are measured in accordance with IFRS 2 at the acquisition date (see below) ● Assets (or disposal groups) that are classified as held for sale in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the net of the acquisition-date amounts of the identifiable assets acquired and liabilities assumed exceeds the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree and the fair value of the acquirer’s previously held interest in the acquiree (if any), the excess is recognized immediately in profit or loss as a bargain purchase gain. A contingent consideration incurred in a business combination is included as part of the acquisition price and recorded at a probability weighted assessment of the fair value as of the acquisition date. The fair value of the contingent consideration is re-measured at each reporting period, with any adjustments in fair value recognized in earnings under general and administrative expenses. When the consideration transferred by the Group in a business combination includes a contingent consideration arrangement, the contingent consideration is measured at its acquisition-date fair value and included as part of the consideration transferred in a business combination. Changes in fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retrospectively, with corresponding adjustments against goodwill. Measurement period adjustments are adjustments that arise from additional information obtained during the ‘measurement period’ (which cannot exceed one year from the acquisition date) about facts and circumstances that existed at the acquisition date. The subsequent accounting for changes in the fair value of the contingent consideration that do not qualify as measurement period adjustments depends on how the contingent consideration is classified. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and its subsequent settlement is accounted for within equity. Other contingent consideration is remeasured to fair value at subsequent reporting dates with changes in fair value recognized in profit or loss. D. Goodwill Goodwill is initially recognized and measured as set out above. Goodwill is not amortized but is reviewed for impairment at least annually. For the purpose of impairment testing, goodwill is allocated to each of the Group’s cash-generating units (or groups of cash-generating units) expected to benefit from the synergies of the combination. Cash-generating units to which goodwill has been allocated are tested for impairment annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. An impairment loss recognized for goodwill is not reversed in a subsequent period. On disposal of a cash-generating unit, the attributable amount of goodwill is included in the determination of the profit or loss on disposal. The Group’s policy for goodwill arising on the acquisition of an associate is described below. E. Investments in associates An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee. The Group is presumed to have significant influence when it holds 20 percent or more of the voting rights of an investee, unless it can be clearly demonstrated that this is not the case. The Group does not control its associates. The results and assets and liabilities of associates are incorporated in these financial statements using the equity method of accounting, except when the investment is classified as held for sale, in which case it is accounted for in accordance with IFRS 5. Under the equity method, an investment in an associate is recognized initially in the consolidated statements of financial position at cost and adjusted thereafter to recognize the Group’s share of the profit or loss and other comprehensive income of the associate. Dividends received or receivable from associates are recognized as a reduction in the carrying amount of the investment. When the Group’s share of losses of an associate or exceeds the Group’s interest in that associate (which includes any long-term interests that, in substance, form part of the Group’s net investment in the associate), the Group discontinues recognizing its share of further losses. Additional losses are recognized only to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the associate. An investment in an associate is accounted for using the equity method from the date on which the investee becomes an associate. On acquisition of the investment in an associate, any excess of the cost of the investment over the Group’s share of the net fair value of the identifiable assets and liabilities of the investee is recognized as goodwill, which is included within the carrying amount of the investment. Any excess of the Group’s share of the net fair value of the identifiable assets and liabilities over the cost of the investment, after reassessment, is recognized immediately in profit or loss in the period in which the investment is acquired. If there is objective evidence that the Group’s net investment in an associate is impaired, the requirements of IAS 36 are applied to determine whether it is necessary to recognize any impairment loss with respect to the Group’s investment. When necessary, the entire carrying amount of the investment (including goodwill) is tested for impairment in accordance with IAS 36 as a single asset by comparing its recoverable amount (higher of value in use and fair value less costs of disposal) with its carrying amount. Any impairment loss recognized is not allocated to any asset, including goodwill that forms part of the carrying amount of the investment. Any reversal of that impairment loss is recognized in accordance with IAS 36 to the extent that the recoverable amount of the investment subsequently increases. The Group discontinues the use of the equity method from the date when the investment ceases to be an associate. When the Group retains an interest in the former associate and the retained interest is a financial asset, the Group measures the retained interest at fair value at that date and the fair value is regarded as its fair value on initial recognition in accordance with IFRS 9. The difference between the carrying amount of the associate at the date the equity method was discontinued, and the fair value of any retained interest and any proceeds from disposing of a part interest in the associate is included in the determination of the gain or loss on disposal of the associate. In addition, the Group accounts for all amounts previously recognized in other comprehensive income in relation to that associate on the same basis as would be required if that associate had directly disposed of the related assets or liabilities. Therefore, if a gain or loss previously recognized in other comprehensive income by that associate would be reclassified to profit or loss on the disposal of the related assets or liabilities, the Group reclassifies the gain or loss from equity to profit or loss (as a reclassification adjustment) when the associate is disposed of. When the Group reduces its ownership interest in an associate but the Group continues to use the equity method, the Group reclassifies to profit or loss the proportion of the gain or loss that had previously been recognized in other comprehensive income relating to that reduction in ownership interest if that gain or loss would be reclassified to profit or loss on the disposal of the related assets or liabilities. When a Group entity transacts with an associate of the Group, profits and losses resulting from the transactions with the associate are recognized in the Group’s consolidated financial statements only to the extent of interests in the associate that are not related to the Group. F. Foreign currencies The functional currency and the presentation currency The reporting and functional currency of the Company and each of its subsidiaries, GERD IP, Charging Robotics and Jeffs’ Brands is USD while Eventer and Gix Internet is NIS. The consolidated financial statements are presented in USD and rounded to the nearest thousand. The consolidation of Gix Internet’s and Eventer’s financial statements is accounted for as a foreign operation using IAS 21, the Effects of Changes in Foreign Exchange Rates. Transactions and balances In preparing the financial statements of the Group entities, transactions in currencies other than the entity’s functional currency (“Foreign Currencies”) are recognized at the rates of exchange prevailing on the dates of the transactions. At each reporting date, monetary assets and liabilities that are denominated in Foreign Currencies are retranslated at the rates prevailing at that date. Non-monetary items carried at fair value that are denominated in Foreign Currencies are translated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Exchange differences are recognized in profit or loss in the period in which they arise. Foreign Operations For the purpose of presenting consolidated financial statements, the assets and liabilities of the Group’s foreign operations are translated at exchange rates prevailing on the reporting date. Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the date of transactions are used. Exchange differences arising, if any, are recognized in other comprehensive income and accumulated in a foreign exchange translation reserve (attributed to non-controlling interests as appropriate). On the disposal of a foreign operation (i.e. a disposal of the Group’s entire interest in a foreign operation, or a disposal involving loss of control over a subsidiary that includes a foreign operation or a partial disposal of an interest in an associate that includes a foreign operation of which the retained interest becomes a financial asset), all of the exchange differences accumulated in a foreign exchange translation reserve in respect of that operation attributable to the owners of the Company are reclassified to profit or loss. In addition, in relation to a partial disposal of a subsidiary that includes a foreign operation that does not result in the Group losing control over the subsidiary, the proportionate share of accumulated exchange differences is re-attributed to non-controlling interests and are not recognized in profit or loss. For all other partial disposals (i.e., partial disposals of associates that do not result in the Group losing significant influence), the proportionate share of the accumulated exchange differences is reclassified to profit or loss. Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate. Exchange differences arising are recognized in other comprehensive income. G. Property and equipment Property and equipment are initially recognized at purchased cost. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of replaced items is derecognized. All other repairs and maintenance are charged to profit or loss during the financial period in which they are incurred. Property and equipment are measured at cost less accumulated depreciation and accumulated impairment loss. Depreciation is calculated using the straight-line method over the estimated useful life of the asset as follows: Machinery and equipment 6 – 10 years (primarily 10) Leasehold improvements and furniture 7 – 14 years Computers and programs 3 years Leasehold improvements are depreciated using the straight-line method over the shorter of the term of the lease or the estimated useful lives of the assets. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. An item of property and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. The gain or loss arising on the disposal or retirement of an asset is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognized in profit or loss. H. Financial instruments Financial assets and financial liabilities are recognized in the Group’s consolidated statements of financial position when the Group becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value, except for trade receivables that do not have a significant financing component which are measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss. Financial assets Classification The Group classifies its financial assets in the following measurement categories: ● those to be measured subsequently at fair value through profit or loss, and ● those to be measured at amortized cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will be recorded in profit or loss. Recognition Regular way purchases and sales of financial assets are recognized on trade date, being the date on which the Group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. Measurement At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (“FVTPL”), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVTPL are expensed in profit or loss. Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest. Debt instruments Subsequent measurement of investments in debt instruments depends on the Group’s business model for managing the asset and the cash flow characteristics of the asset. There are two measurement categories into which the Group classifies its investments in debt instruments: ● Amortized cost: Financial assets are measured at amortized cost if both of the following conditions are met: - the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and - the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognized directly in profit or loss and presented in other gains/(losses) together with foreign exchange gains and losses. ● Fair value through profit or loss: A gain or loss on a debt investment that is subsequently measured at FVTPL is recognized in profit or loss and presented net within other gains/(losses) in the period in which it arises. Equity instruments The Group subsequently measures investments in equity instruments at fair value through profit or loss except when the Group has control or significant influence. Dividends from such investments continue to be recognized in profit or loss as other income when the Group’s right to receive payments is established. Changes in the fair value of financial assets at FVTPL are recognized in “net change in fair value of financial assets at fair value through profit or loss” in the Consolidated statements of loss and other comprehensive loss, as applicable. Impairment of financial assets The Group recognizes a loss allowance for expected credit losses on financial assets at amortized cost. At each reporting date, the Group assesses whether the credit risk on a financial instrument has increased significantly since initial recognition. If the financial instrument is determined to have a low credit risk at the reporting date, the Company assumes that the credit risk on a financial instrument has not increased significantly since initial recognition. The Group measures the loss allowance for expected credit losses on trade receivables and on financial instruments for which the credit risk has increased significantly since initial recognition based on lifetime expected credit losses based on information available on their credit condition, current aging, historical experience, future economic and market conditions. The Group has determined that the estimates of current and expected credit losses are immaterial. Derecognition of financial assets The Group derecognizes a financial asset only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the Group neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Group recognizes its retained interest in the asset and an associated liability for amounts it may have to pay. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received. On derecognition of a financial asset measured at amortized cost, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss. Financial liabilities and equity Classification as debt or equity Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. Equity instruments An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Group are recognized at the proceeds received, net of direct issue costs. Repurchase of the Company’s own equity instruments is recognized and deducted directly in equity. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Company’s own equity instruments. Compound instruments The component parts of convertible loan notes issued by the Group are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. A conversion option that will be settled by the exchange of a fixed amount of cash or another financial asset for a fixed number of the Company’s own equity instruments is an equity instrument. At the date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. This amount is recorded as a liability on an amortized cost basis using the effective interest method until extinguished upon conversion or at the instrument’s maturity date. The conversion option classified as equity is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognized and included in equity, net of income tax effects, and is not subsequently remeasured. In addition, the conversion option classified as equity will remain in equity until the conversion option is exercised, in which case the balance recognized in equity will be transferred to share premium. Where the conversion option remains unexercised at the maturity date of the convertible loan note, the balance recognized in equity will be transferred to retained earnings. No gain or loss is recognized in profit or loss upon conversion or expiration of the conversion option. Transaction costs that relate to the issue of the convertible loan notes are allocated to the liability and equity components in proportion to the allocation of the gross proceeds. Transaction costs relating to the equity component are recognized directly in equity. Transaction costs relating to the liability component are included in the carrying amount of the liability component and are amortized over the lives of the convertible loan notes using the effective interest method. Financial liabilities Financial liabilities are initially recognized at their fair value minus, in the case of a financial liability not at fair value through profit or loss, transaction costs that are directly attributable to the issue of the financial liability. Financial liabilities are subsequently measured at amortized cost using the effective interest method, except for derivative financial instruments, which are subsequently measured at fair value through profit or loss (FVTPL). The Group has early adopted the narrow-scope amendment to IAS 1. Accordingly, financial liabilities are classified as non-current if the Group has a substantive right to defer settlement for at least 12 months at the end of the reporting period, otherwise, they are classified as current liabilities. The Group’s financial liabilities at amortized cost are included in accounts payable, accrued expenses, other current liabilities, payable in respect of the intangible asset and lease liabilities. The derivative financial instruments represent warrants that confer the right to net share settlement. The Group derecognizes a financial liability (or a part of a financial liability) when, and only when, it is extinguished (when the obligation specified in the contract is discharged, cancelled or expired). Derecognition of financial liabilities The Group derecognizes financial liabilities when, and only when, the Group’s obligations are discharged, cancelled or have expired. The difference between the carrying amount of the financial liability derecognized and the consideration paid and payable is recognized in profit or loss. When the Group exchanges with the existing lender one debt instrument into another one with substantially different terms, such exchange is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. Similarly, the Group accounts for substantial modification of terms of an existing liability or part of it as an extinguishment of the original financial liability and the recognition of a new liability. It is assumed that the terms are substantially different if the discounted present value of the cash flows under the new terms, including any fees paid net of a |
Critical Accounting Judgements
Critical Accounting Judgements and Key Sources of Estimation Uncertainty | 12 Months Ended |
Dec. 31, 2022 | |
Critical Accounting Judgements and Key Sources of Estimation Uncertainty [Abstract] | |
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY | NOTE 3 – CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY: In applying the Group’s accounting policies, which are described in note 2, the management is required to make judgements (other than those involving estimations) that have a significant impact on the amounts recognize and to make estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimate are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Key sources of estimation uncertainty The key assumptions concerning the future, and other key sources of estimation uncertainty at the reporting period that may have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are discussed below. Fair value measurements and valuation process Some of the Group’s assets and liabilities are measured at fair value for financial reporting purposes. In estimating the fair value of an asset or a liability, the Group uses market-observable data to the extent it is available. Where Level 1 inputs are not available, the Group engages third party qualified valuers to perform the valuation. The Company works closely with the qualified external valuers to establish the appropriate valuation techniques and inputs to the model. The valuations of private equity investments as well as goodwill and other intangible assets of certain of the Company’s subsidiaries are sensitive to changes in one or more unobservable inputs which are considered reasonably possible within the next financial year. Further information on the carrying amounts of these assets and the relevant unobservable inputs are provided in note 4. |
Interest in Other Entities
Interest in Other Entities | 12 Months Ended |
Dec. 31, 2022 | |
Interest in Other Entities [Abstract] | |
INTEREST IN OTHER ENTITIES | NOTE 4 – INTEREST IN OTHER ENTITIES: A. Investments in subsidiaries: 1. Additional information about subsidiaries held by the Company: General information Ownership rights Main place of interest December 31, 2022 Jeffs’ Brands Ltd. Israel 64.06 % Eventer Technologies Ltd. Israel 53.79 % Charging Robotics Ltd. Israel - GERD IP Inc. USA 10 % Gix Internet Ltd. Israel 57.75 % December 31, 2021 Jeffs’ Brands Ltd. Israel 49.97 % Eventer Technologies Ltd. Israel 52.31 % Charging Robotics Ltd. Israel - GERD IP Inc. USA 10 % 2. Summarized financial information of subsidiaries Eventer Technologies Ltd. Summarized statement of financial position: December 31, December 31, USD in thousands (*) Current assets 1,829 3,469 Non-current assets 1,379 1,521 Current liabilities 2,766 3,571 Non-current liabilities 476 711 Equity (Deficit) (34 ) 708 (*) Translated according to the exchange rate at the date of each statement of financial position. Summarized statement of comprehensive income: Year ended Year ended October 15, 2020 – USD in thousands (**) Revenue 2,465 1,185 40 Net loss (1,316 ) (2,612 ) (490 ) Summarized statement of cash flows: Year ended 2022 Year ended October 15, 2020 – USD in thousands (**) Cash flow from (used in) operating activities (16 ) 407 (347 ) Cash flow from (used in) investing activities (34 ) (370 ) 52 Cash flow from (used in) financing activities (163 ) 703 1032 Gain (losses) from exchange differences on cash and cash equivalents (215 ) - - Net increase (decrease) in cash and cash equivalents (428 ) 740 737 (**) Translated according to the average exchange rates for each period. Jeffs’ Brands Ltd. Summarized statement of financial position: December 31, December 31, USD in thousands Current assets 11,033 2,022 Non-current assets 4,743 5,390 Current liabilities 5,133 2,211 Non-current liabilities 98 3,948 Equity 10,545 1,253 Summarized statement of comprehensive income: Year ended Year ended USD in thousands Revenue 5,859 6,509 Net loss (1,134 ) (1,540 ) Summarized statement of cash flows: Year ended December 31, 2022 Year ended December 31, 2021 USD in thousands Cash flow used in operating activities (4,823 ) (863 ) Cash flow used in investing activities (41 ) (4,730 ) Cash flow from financing activities 12,611 5,695 Net increase in cash and cash equivalents 7,747 102 Gix Internet Ltd. Summarized statement of financial position: December 31, December 31, USD in thousands (*) Current assets 26,481 23,145 Non-current assets 16,549 19,191 Current liabilities 29,529 26,832 Non-current liabilities 4,127 6,543 Equity 9,374 8,960 Equity attributable to Gix Internet shareholders 4,804 4,130 Non-controlling interests 4,570 4,830 (*) Translated according to the exchange rate at the date of each statement of financial position. Summarized statement of comprehensive income: March 1, January 01, Year ended USD in thousands (**) Revenue 83,532 12,193 44,827 Net profit (loss) 414 (438 ) (1,510 ) Other comprehensive income (loss) 499 (295 ) (396 ) Total comprehensive income (loss) 913 (733 ) (1,905 ) Summarized statement of cash flows: February 28, 2022 – December 31, 2022 USD in thousands (**) Cash flow from operating activities 4,232 Cash flow from investing activities 13 Cash flow used in financing activities (3,309 ) Loss from exchange differences on cash and cash equivalents (127 ) Net increase in cash and cash equivalents 809 (**) Translated according to the average exchange rates for the period from February 28, 2022 until December 31, 2022. 3. Information related to non-controlling interests: Balance of non-controlling interests: December 31, December 31, USD in thousands Eventer 721 1,136 Jeffs’ Brands 7,199 965 Charging Robotics 91 91 Gix Internet 7,480 - GERD IP 57 51 15,548 2,243 Profit (Loss) attributed to non-controlling interests: Year ended Year ended USD in thousands ScoutCam - (892 ) Eventer (691 ) (1,112 ) Jeffs’ Brands (396 ) (795 ) GERD IP 7 51 Gix Internet 687 - (393 ) (2,748 ) 4. Information related to loss of control in subsidiary: On March 22, 2021, the Company’s holdings in ScoutCam were diluted, therefore it was deconsolidated. For additional information see note 4C. 5. Additional information: The Company consolidated Eventer as of October 15, 2020, because the Company has exclusive rights regarding determination of a business plan and budget, appointing or dismissing the CEO, determining his compensation package and on declaration or payment of any dividend or distribution of cash, securities and other assets. Additionally, the Company has the power to appoint or remove half of the members of the board. All of the above indicates the Company’s control of Eventer. The Company consolidated Gix Internet as of February 28, 2022, as the Company increased its holdings interests to 38.03% on February 28, 2022, making the Company the largest shareholder in Gix Internet, on a fully diluted basis. Additionally, the Company has appointed 3 out of 5 of the members of the Board of Directors of Gix Internet. These reasons indicate the Company’s control of Gix Internet. On August 30, 2022, Jeffs’ Brands completed an initial public offering (“IPO”), therefore the Company’s holdings in Jeffs’ Brands were diluted to below 50% of the voting rights. However, the Company continues to consolidate Jeffs’ Brands for the following reasons: the Company is the largest shareholder in Jeffs’ Brands and holds as of the date of the completion of the IPO 35.27% of the voting rights. The composition of the Board of Directors will remain the same until the next annual meeting, which will be scheduled during 2023. These reasons indicate the Company’s continued control of Jeffs’ Brands. B. Investments according to the equity method: 1. This table summarizes the total investments according to the equity method: December 31, December 31, USD in thousands ScoutCam (note 4C) 9,375 10,735 Gix Internet (note 4F) - 4,867 Parazero (note 4M) 976 - Laminera (note 4N) 1,176 - Polyrizon (note 4H) 214 447 Elbit Imaging (note 4J) - 975 Revoltz (note 4I) 151 216 11,892 17,240 2. This table summarizes the total share of loss (profit) of investments according to the equity method: For the For the USD in thousands ScoutCam (note 4C) 1,360 1,401 Automax (note 4G) - (275 ) Gix Internet (note 4F) 215 822 Parazero (note 4M) 615 - Laminera (note 4N) 157 - Polyrizon (note 4H) 234 74 Elbit Imaging (note 4J) 36 83 Revoltz (note 4I) 42 44 2,659 2,149 3. This table summarize the Company’s rights in share capital and voting rights: Main place of Company rights in share the business % December 31, 2022 Parazero Israel 40.35 % Laminera Israel 19.70 % Polyrizon Israel 37.03 % ScoutCam Israel 27.02 % Fuel Doctor Israel 28.63 % Revoltz Israel 19.9 % December 31, 2021 Gix Internet Israel 34.58 % Polyrizon Israel 36.81 % ScoutCam Israel 27.02 % Elbit Imaging Israel 5.72 % Fuel Doctor Israel 35.06 % Revoltz Israel 19.9 % 4. Summarized financial information of material investments: ScoutCam Summarized statements of financial position: December 31, December 31, USD in thousands Current assets 14,117 20,212 Non-current assets 2,778 3,334 Current liabilities 4,187 1,309 Non-current liabilities 2,550 2,621 Equity 10,158 19,616 Summarized statement of comprehensive income: Year Nine months Three months ended Year USD in thousands Revenue 665 363 24 491 Net loss (6,575 ) (7,381 ) (1,606 ) (4,667 ) (*) ScoutCam was deconsolidated on March 31, 2021, and the investment was accounted for as an equity method investment from April 1, 2021 (refer to note 4C). Summarized statement of cash flows: Three months ended USD Cash flow used in operating activities (774 ) Cash flow used in investing activities (117 ) Cash flow from financing activities 10,281 Net increase in cash and cash equivalents 9,378 Parazero Summarized statements of financial position: December 31, Current assets 1,438 Non-current assets 98 Current liabilities 2,422 Non-current liabilities 772 Equity (1,658 ) Summarized statement of comprehensive income: Period February 2 - Revenue 514 Net loss (1,205 ) Laminera Summarized statements of financial position: December 31, USD in thousands Current assets 193 Non-current assets 748 Current liabilities 420 Non-current liabilities 40 Equity 481 Summarized statement of comprehensive income: Period Revenue - Net loss (689 ) 5. Fair value of investments in material affiliated companies for which there is a market price on the stock exchange: December 31, December 31, Carrying amount Quoted fair value Carrying amount Quoted fair value USD in thousands ScoutCam 9,375 9,623 10,735 15,397 Gix Internet (*) - - 4,867 5,854 Elbit Imaging (**) - - 723 974 (*) Gix Internet was consolidated as of February 28, 2022 (note 4F). (**) Elbit Imaging investment was accounted for as assets at fair value through profit or loss as of October 18, 2022 (note 4J). C. ScoutCam On December 30, 2019, the Company and ScoutCam Inc. (“ScoutCam”) consummated a securities exchange agreement (the “Exchange Agreement”), pursuant to which the Company delivered 100% of its holdings in ScoutCam Ltd. to ScoutCam in exchange for shares of ScoutCam’s common stock representing 60% of the issued and outstanding share capital of ScoutCam immediately upon the consummation of the Exchange Agreement. On March 22, 2021, ScoutCam issued to investors (the “Investors”) 2,469,156 units (the “Units”) in exchange for an aggregate purchase price of USD 20 million. As the Company did not participate in the March 2021 funding, its interest in ScoutCam reduced to 28.06%, which resulted in loss of control in ScoutCam as of April 2021. Accordingly, ScoutCam was deconsolidated as of such date and accounted for using the equity method, with the purchase price being the fair value of ScoutCam’s shares held by ScoutCam as of such date. As a result of deconsolidation of ScoutCam and initial recognition of the investment in shares of ScoutCam at fair value, the Company recorded a gain of USD 11,465 in the consolidated statement of income/loss and other comprehensive income/loss. Additionally, the Company recognized its holdings in ScoutCam’s warrants as financial asset through profit or loss and recorded an additional gain of USD 97 thousand. As of December 31, 2021, part of the warrants was exercised and the rest expired. On August 9, 2021, ScoutCam amended its Articles of Incorporation to affect a 9 to 1 reverse stock split of ScoutCam’s outstanding Common Stock. As of December 31, 2022, the Company owns approximately 27.02% of the outstanding common stock of ScoutCam. On March 21, 2023, ScoutCam executed a capital raising transaction which diluted the Company’s holdings in ScoutCam to 18.45% and the remaining holding was accounted for as an investment at fair value through profit or loss (FVTPL) (see note 21(4)). Purchase price allocation upon deconsolidation and initial measurement under the equity method: March 31, USD Fair value of investment 11,843 Total consideration 11,843 ScoutCam’s Equity as of March 31, 2021 22,338 Adjustments to Equity (5,445 ) Equity ss adjusted 16,893 Groups share in % 28.06 % 4,740 Excess cost to allocate: 7,103 Technology 1,672 Deferred tax liability (385 ) Total intangible assets identified 1,287 Excess purchase price to allocate to goodwill 5,816 Activity in investment account: January 1, 2022 - USD Investment as of January 1, 2022 10,735 Group share in losses (1,776 ) Excess cost Amortization-technology (124 ) Share based compensation 442 Group share in forfeited options 98 Investment as of December 31, 2022 9,375 April 1, 2021 - USD Investment as of April 1, 2021 11,843 Group share in losses (2,044 ) Excess cost Amortization-technology (96 ) Share based compensation 540 Exercise of warrants by the Group 234 Group share in exercise warrants by others 218 Group share in forfeited options 32 Additional investment allocated to goodwill 8 Investment as of December 31, 2021 10,735 Reconciliation to carrying amounts: December 31, USD Equity attributable to ScoutCam 11,785 Adjustments to Equity (1,628 ) Equity As adjusted as of December 31, 2022 10,157 Groups share in % 27.02 % Group share 2,744 Balance of excess cost: Technology, net of deferred tax 1,023 Goodwill 5,608 Balance as of December 31, 2022 9,375 December 31, USD Equity attributable to ScoutCam 19,615 Adjustments to Equity (4,883 ) Equity As adjusted as of December 31, 2021 14,732 Groups share in % 27.02 % Group share 3,981 Balance of excess cost: Technology, net of deferred tax 1,146 Goodwill 5,608 Balance as of December 31, 2021 10,735 D. Eventer General On October 14, 2020, the Company signed a share purchase agreement and a revolving loan agreement with Eventer, a technology company engaged in the development of unique tools for automatic creation, management, promotion, and billing of events and ticketing sales. Pursuant to the share purchase agreement, the Company invested USD 750 thousand and was issued an aggregate of 325,270 ordinary shares of Eventer, representing 58.7% of the issued and outstanding share capital (50.01% of Eventer’s issued and outstanding share capital on a fully diluted basis). The share purchase agreement provides that the Company will invest an additional USD 250 thousand in a second tranche, subject to Eventer achieving certain post-closing EBITDA based milestones during the fiscal years 2021 through 2023, or the “Milestones”. The Milestones will be examined in each of the years 2021 through 2023. The fair value of the earn-out was calculated by using a Monte Carlo Simulation. According to this model, the fair value of the earn-out was NIS 233 thousand (USD 69 thousand) as of October 14, 2020. As of December 31, 2022, the Milestones have not been achieved and the fair value of the earn-out was determined to be immaterial. In addition, the Company granted a loan to Eventer in the amount of USD 250 thousand (“Initial Advance”), and the loan was valued at USD 204 thousand. According to the loan agreement, the Company committed to lend up to USD 1,250 thousand to Eventer through advances of funds upon Eventer’s request and subject to the Company’s approval. Advances extended under the Loan Agreement may be repaid and borrowed, in part or in full, from time to time. The Initial Advance should be repaid in twenty-four equals monthly instalments, commencing on the first anniversary of the Loan Agreement. Other advances extended under the Loan Agreement will be repaid immediately following, and in no event later than thirty days following the completion of the project or purpose for which they were made. Outstanding principal balances on the advances will bear interest at a rate equal to the higher of (i) 4% per year, or (ii) the interest rate determined by the Israeli Income Tax Ordinance [New Version] 5721-1961 and the rules and regulation promulgated thereunder. Interest payments will be made on a monthly basis. Additionally, on October 14, 2020, the Company entered the Exchange Agreement with Eventer’s shareholders, pursuant to which, during the period commencing on the second anniversary of the Exchange Agreement and ending fifty-four (54) months following the date of the Exchange Agreement, Eventer’s shareholders may elect to exchange all of their Eventer shares for ordinary shares of the Company. The number of ordinary shares of the Company to which Eventer’s shareholders would be entitled pursuant to an exchange will be calculated by dividing the fair market value of each of Eventer’s ordinary share, as mutually determined by the Company and the shareholders, by the average closing price of an ordinary share of the Company on the principal market on which its ordinary shares or ADSs are traded during the sixty days prior to the exchange date, rounded down to the nearest whole number. The Company board of directors may defer the exchange’s implementation in the event it determines in good faith that doing so would be materially detrimental to the Company and its shareholders. In addition, the exchange may not be affected for so long as USD 600 thousand or more remains outstanding under the Loan Agreement, or if an event of default under the Loan Agreement has occurred. The Company treated the Exchange Agreement at the date of the business combination from accounting perspective as recognition of non-controlling interests, in addition to the recognition of a liability in respect of a derivative (exchange options) which will be measured at fair value at each cut-off date and will be revalued. The changes in the fair value at each cut-off date will be recorded as a financial income/expense. The Company concluded that the fair value of this derivative is immaterial, as this is an exchange of Eventer shares held by the other party, a fixed number in consideration for a variable number of the Company’s shares whose total value is equal to the value of the Eventer shares exchanged. On March 25, 2021, Eventer completed a finance round of approximately USD 2,250 thousand (approximately NIS 7,300 thousand) from a group of 7 investors, in exchange for 146,637 shares, representing 20% of Eventer’s outstanding shares after consummation of the investment. As part of the investment agreement, Keshet Holdings LP (“Keshet”), one of the 7 investors, committed to provide Eventer with advertising services for USD 1,250 thousand (approximately NIS 4,000 thousand), over a period of 1 year, until June 30, 2022. The agreement further provided that the investment proceeds to be paid by Keshet are to be netted by the USD 1,250 thousand to be paid as consideration of the above-mentioned advertising services. Accordingly, the net amount Eventer raised in the finance round amounted to USD 1,000 thousand, with advertising services recorded as prepaid expense in the amount of USD 1,250 thousand. Eventer is not entitled to a refund in the event these advertising services are unutilized through the entire period until June 30, 2022. Following lack of usage of advertising services by Eventer till 30 June 2022 Eventer and Keshet agreed to extend the entitlement period till December 31, 2023, such that the original volume would be utilized. As the extension in time period does not entitle Eventer to additional advertisement services, the Company concluded that the fair value of the additional benefit represented by the extension is immaterial. Following the finance round, the Company’s holding in Eventer decreased to 47.69% of Eventer’s issued and outstanding share capital. Additionally, the investment agreement further provided that if in the following twelve months of the closing, Eventer shall not consummate an IPO, then the price per share (“PPS“) shall be adjusted downward to reflect 50% of the PPS at the time of the closing Date (the “Adjusted PPS”), and the Investors shall be issued with additional Ordinary Shares of Eventer, at no additional consideration. Eventer did not consummate an IPO, therefore on May 25, 2022, Eventer issued to the investors 65,310 shares from which the Company received 19,518 shares. The Company’s holding in Eventer decreased to 46.21% from that date. During November 2021, the Company and Eventer agreed that the Initial Advance will be repaid the earlier of (i) six months following the Maturity Date of the Initial Advance; or (ii) immediately following an initial public offering of Eventer. The Company concluded the change in terms does not constitute a material modification of the loan. Accordingly, the loan’s carrying value was retained and no profit or loss outcome was recorded as a result of the change in terms. In November 2021, the Company loaned an amount of USD 250 thousand to Eventer which is to be repaid 6 months after the loan was received. The loan bears 4% interest per year. On October 30, 2022, the Company and Eventer signed an amendment according to which the maturity date of the Initial Advance and the loan will be May 30, 2024. In an event Eventer will issue securities in consideration of at least USD 2 million or in the event of an IPO or right offering (the” Investment”), then the outstanding Initial Advance and the loan will automatically be converted into shares. The number of shares will be calculated by dividing the outstanding balance loan as of the closing date of the Investment by a price per share which shall reflect a 20% discount off the lowest price per share paid in the Investment. The Company concluded the fair value of the benefit represented by the change in terms is immaterial. Loan agreement with Safee Cyber Technologies Inc. On August 1, 2022, the Company and Eventer signed a loan agreement with Safee Cyber Technologies Inc. (“Safee”). For more details about the Company’s investment in Safee, see note 4P. According to the loan agreement, the Company loaned Safee an amount of NIS 250 thousand (USD 74 thousand) and Eventer loaned Safee an amount of NIS 300 thousand (USD 89 thousand) consisting of NIS 100 thousand (USD 30 thousand) in cash and by assigning to Screenz NIS 200 thousand (USD 59 thousand) of the unutilized advertising rights Eventer had purchased from Keshet in March 2021 as mentioned above. Additionally, for the purpose of loan repayment, Eventer’s loan will be considered as NIS 200 thousand (USD 59 thousand) in total. As a result, Eventer recorded an expense of NIS 100 thousand (USD 29 thousand). Safee shall repay the loans and the interest out of the proceeds that it will receive, directly and/or indirectly, from the sale of NFT, in a way that the company and Eventer will be entitled to receive the relative part of the loans (excluding 10% of such proceeds). Safee shall not use the NFT proceeds for any other purpose and shall not grant any rights to any third party in the proceeds, until the full repayment of the loans and the interest. Following the full repayment of the loans and the interest, Safee will be entitled to receive 43.3% of the NFT proceeds and each the Company and Eventer will be entitled to receive 28.35% of the NFT proceeds. In the event that the net proceeds shall not be sufficient to repay the loans within the period of 2 years or in case the Cooperation Agreement shall be terminated prior to the full payment of the loans, the Company and Eventer shall waive all unpaid amounts of the loans. The loans bear a fixed annual interest at the minimal rate required according to the applicable tax law, starting from the date the loan was provided and until its full repayment. As of December 31, 2022, the fair value of the loan is USD 104 thousand. Contingent liabilities On September 19, 2022, a lawsuit was filed against Eventer and others in the amount of NIS 280 thousand (USD 80 thousand), alleging a violation of the Prohibition of Discrimination in Products, Services, and Entry into Places of Entertainment and Public Places Law. According to the opinion of Eventer’s legal counsel, the chances of the lawsuit to be rejected are more likely than not. On December 14, 2022, a request for a class action was filed against Eventer and its two directors, alleging the violation of the provisions of the Prohibition of Discrimination in Products, Services, and Entry into Places of Entertainment and Public Places Law. The plaintiff claims that Eventer allows the allocation of different kinds of tickets to different groups (such as women, children etc.), thereby allowing structured discrimination. According to the opinion of Eventer’s legal counsel, the chances of the class action to be rejected are more likely than not both against the Eventer and its directors. Eventer must submit its response to the class action request by May 14, 2023. Agreement with Screenz Cross Media Ltd. On February 4, 2021, Eventer signed an addendum to the agreement with Screenz Cross Media Ltd. (a company indirectly controlled and managed by Eli Uzan who serves as Eventer’s Director) (hereafter “Screenz”). The agreement was signed during November 2020 for the purpose of collaborating in the field of virtual conferences. According to the provisions of the addendum to the agreement, Eventer will receive an exclusive license for using the broadcasting system of Screenz with respect to the field of virtual conferences and development services, and in exchange will pay Screenz an amount of USD 1,500 thousand (approximately NIS 4,280 thousand) over a period of eight months, as well as 8% from the revenues earned from using the broadcasting system in the field of virtual conferences. On December 30, 2021, the Board of Directors approved an amendment to the agreement between Eventer and Screenz effective September 30, 2021 (the “Effective Date”). As per the amendment, instead of USD 1,500, Eventer will pay in exchange for the license an aggregate amount of USD 1,800 thousand, and the repayment term is to be extended to a period of three years, in monthly instalments of approximately USD 50 thousand each. Eventer evaluated the change in the terms of the commitment in accordance with IFRS 9 and concluded that the change does constitute a material modification of the loan. As of September 30, 2021, the loan’s book value was USD 1,300 thousands and the fair value of the debt was valued at USD 1,415 thousand. The difference of USD 115 thousand was recorded as finance expenses. As of December 31, 2021, the balance of Eventer’s debt to Screenz for the license was a total of USD 1,217 thousand. For additional information see note 17b4. On March 20, 2022, Eventer and Screenz agreed to reduce the monthly payments for the license from 50 thousand dollars to 25 thousand dollars for a period of 5 months. The modified loan terms did not represent a substantial modification in accordance with IFRS 9. The aforementioned payments ceased in August 2022 and in December 2022 an amendment was signed pursuant to which Eventer repaid its debt to Screenz by assigning to Screenz the remaining unutilized advertising rights Eventer had purchased from Keshet in March 2021 as mentioned above. The prepaid expense balance in respect of these advertising rights in the books of Eventer as of the repayment date, which approximates the advertising rights’ fair value, was USD 660 thousand. The debt balance as of the date of the amendment was USD 1,062 thousand (NIS 3,862 thousand). The difference between the debt balance and the advertising rights of USD 402 thousand was recorded as a capital contribution from Screenz to Eventer. It was also determined that Screenz will have the first right to receive any money received from Eventer and resulting from a digital ticketing platform for interactive virtual events up to a total amount of USD 480 thousand. The Company concluded the fair value of this commitment is immaterial given the uncertainty of revenues to be generated by Eventer from interactive virtual events. Deferred offering costs During 2021, Eventer recorded USD 470 thousand as deferred offering costs in relation to a planned initial public offering (“IPO”). During 2022, Eventer recorded these deferred offering costs as an expense due to the fact that the offering did not occur. Share based compensation grants On March 30, 2021, Eventer’s Board of Directors approved a contractual agreement with Eventer’s CEO. The date of the commencement of the agreement is January 1, 2021. The CEO will be entitled to a salary of NIS 33 thousand (USD 10 thousand). In addition, Eventer granted the CEO 29,944 options to purchase one share at an exercise price of 0.001 NIS per share. The options shall vest over a period of three years commencing from the engagement date with 1/12 of such options vesting at the end of each subsequent three-month period following the grant. The fair value of the option granted is estimated on the grant date, using the Black-Scholes Model using the following inputs: (a) risk-free interest rate– 0.15%; (b) expected dividend – 0%; (c) expected volatility – 47.02%; (d) forecasted life – 10 years. The value of this grant was estimated at approximately NIS 1,668 thousand (USD 473 thousand). For the years ended December 31, 2022, and 2021, approximately NIS 418 thousand (USD 124 thousand) and NIS 1,123 thousand (USD 347 thousand), respectively, were recognized and recorded as expenses. On March 30, 2021, Eventer’s Board of Directors approved a contractual agreement with Round Robin Ltd. Which is one of the founding partners of Eventer. The date of the commencement of the agreement is January 1, 2021. Under the agreement, Round Robin Ltd. will provide Eventer with 12 monthly hours of technological consulting, and in exchange, Eventer will grant Round Robin Ltd. 29,944 options to purchase one share at exercise price of 0.001 NIS per share. The options shall vest over a period of three years commencing the engagement date with 1/12 of such options vesting at the end of each subsequent three-month period following the grant. The fair value of the option granted is estimated on the grant date, using the Black-Scholes Model, according to the following parameters: (a) risk-free interest rate – 0.15%; (b) expected dividend – 0%; (c) expected volatility – 47.02%; (d) forecasted life – 10 years. The value of this grant was estimated at approximately NIS 1,668 thousand (USD 473 thousand). For the years ended December 31, 2022, and 2021, approximately NIS 418 thousand (USD 124 thousand) and NIS 1,123 thousand (USD 347 thousand), respectively, were recognized and recorded as expenses. On February 4, 2021, Eventer’s Board of Directors approved a contractual agreement with Mr. Roee Grinblat as Eventer’s Chief Business Manager. According to the agreement, the engagement between Eventer and Mr. Greenblatt commenced on January 1, 2021. The monthly professional fee will be approximately NIS 20 thousand (USD 6 thousand). In addition to the professional fee, Eventer will grant a quantity of shares, that will constitute approximately 2% of Eventer’s issued and outstanding capital immediately after the public offering is completed, as options grant. The options shall vest over a period of three years commencing on engagement date with 1/12 of such options vesting at the end of each subsequent three-month period following the grant. The exercise price of 50% of the options will be equal to the public offering and 50% will equal the share price of the capital raising round that preceded the public offering price. The fair value of the options as at the grant date was estimated on the grant date, using the Black-Scholes Model, according to the following parameters: (a) risk-free interest rate– 0.49%; (b) expected dividend – 0%; (c) expected volatility – 47.02%; (d) forecasted life – 5 years. The value of this grant was estimated at approximately NIS 277 thousand (USD 83 thousand). For the year ended December 31, 2021, approximately NIS 186 thousand (USD 58 thousand) were recognized and recorded as expense. During 2022 Eventer reversed the expense due to the fact that the offering did not occur. On February 4, 2021, Eventer’s Board of Directors approved a contractual agreement with Mr. Liron Carmel as the Chairman of the Board of Directors of Eventer. According to the agreement, the engagement between Eventer and Mr. Carmel commenced on January 1, 2021. The monthly professional fee will be approximately NIS 20 thousand (USD 6 thousand). In addition to the professional fee, Eventer granted options to purchase a quantity of ordinary shares, that will constitute approximately 2% of the Eventer’s issued and outstanding ordinary shares immediately after the public offering is completed, as options grant. The options shall vest over a period of three years, commencing on engagement date. The exercise price of 50% of the options granted will be equal to the public offering price, and 50% will equal to the share price of the capital raising round that preceded the public offering price. The fair value of the options granted is estimated on the grant date, using the Black-Scholes Model, according to the following parameters: (a) risk-free interest rate – 0.49%; (b) expected dividend – 0%; (c) expected volatility – 47.02%; (d) forecasted life – 5 years. The value of this grant was estimated at approximately NIS 277 thousand (USD 86 thousand). For the year ended December 31, 2021, approximately NIS 186 thousand (USD 58 thousand) were recognized and recorded as expense. During 2022 Eventer reversed the expense due to the fact that the offering did not occur. On February 4, 2021, Eventer’s Board of Directors approved a contractual agreement with Mr. Eli Uzan as Eventer’s President and Director. According to the agreement, the engagement between Eventer and Mr. Uzan commenced on January 1, 2021. The monthly professional fee will be approximately NIS 20 thousand (USD 6 thousand). |
Financial Instruments and Finan
Financial Instruments and Financial Risk Management | 12 Months Ended |
Dec. 31, 2022 | |
Financial Instruments and Financial Risk Management [Abstract] | |
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT | NOTE 5 – FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT: Financial risk management 1) Financial risk factors The Group is exposed to a variety of financial risks such as: market risks, credit risks and liquidity risks. The Group’s overall risk management plan focuses on the unpredictability of financial markets and seeks to minimize the potential adverse effects on the Group’s financial performance. Risk management is performed by the finance department according to the policy authorized by the board of directors. a) Market risk - Currency risk Currency risk is the risk that the value of financial instruments will fluctuate due to changes in foreign exchange rates. The Group operates internationally and is exposed to foreign exchange risks due to exposure to Foreign Currencies, primarily the NIS. Foreign exchange risk arises from future commercial transactions, assets or liabilities denominated in foreign currency. The Group’s policy to reduce the exposure to changes in exchange rates is based on maintaining, where possible, the balances of current monetary assets, according to the currency of the current liabilities. As of December 31, 2022, and 2021, if the Group’s functional (USD) had weakened/strengthened by 10% against the NIS, with all other variables held constant, the loss for the year would decrease/increase by USD 600 thousand and USD 379 thousand, accordingly. b) Credit risk Credit risk arises when a failure by counterparties to discharge their obligations could reduce the amount of future cash inflows from financial assets on hand at the end of the reporting year. Credit risks are treated at the Group level. Credit risks arise typically from cash and cash equivalents, bank deposits and from credit exposures in connection with outstanding receivables and committed transactions. No credit limits were exceeded during the reported periods and Group’s management does not expect any losses from non-performance of these parties. c) Liquidity risk Liquidity risk exists where the Group might encounter difficulties in meeting its financial obligations as they become due. The Group monitors its liquidity in order to ensure that sufficient liquid resources are available to allow it to meet its obligations. Cash flow forecasting is performed by the Group’s finance department of each of the companies in the Group. The finance department monitors rolling forecasts of the Group’s liquidity requirements to ensure that it has sufficient cash to meet operational needs, while maintaining sufficient headroom on its undrawn committed borrowing facilities, so that the Group does not breach any of its credit facilities. Liquidity risk arises from financial liabilities due to payable balances as of December 31, 2022, and 2021 sum up to USD 35,904 thousand and USD 7,238 thousand, accordingly. 2) Estimates of fair value Below is an analysis of the financial instruments carried at fair value, by valuation method. The different levels have been defined as follows: ● Quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1). ● Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (level 3). Financial assets The Company has several financial assets measured at fair value through profit or loss, which meet the level 1 and level 3 criteria as of December 31, 2022, and 2021 as follow: During 2021 the Company sold shares of Automax and since March 2021 the investment is measured at fair value through profit or loss and meets level 1 criteria. During 2022 the Company invested another amount of USD 213 thousand in Automax to purchase 2,000,000 shares and, following these purchases, holds 15,446,111 shares and holds 6.46% of Automax’s issued and outstanding share capital (see note 4G). During 2021 the Company invested in Safee and holds 2.35% of Safee’s issued and outstanding share capital. The investment meets level 3 criteria. During 2021 the Company invested in Tondo and holds 0.67% of Tondo’s issued and outstanding share capital. The investment meets level 1 criteria. During 2020 The Company invested in Safo an amount of USD 100 thousand in respect of 91,743 warrants and shares (represent holding of 0.47% Safo’s issued and outstanding share capital). The investment in share meets level 1 criteria. The investment in warrants meets level 3 criteria. During 2021 the Company invested in SciSparc and holds 3.09% of SciSparc’s issued and outstanding share capital. The investment meets level 1 criteria (see note 4K). During 2021 the Company invested in Maris-Tech an amount of USD 240 thousand to purchase 78,370 shares and warrants and held 2.09% of Maris-Tech’s issued and outstanding share capital as of December 31, 2021. The investment and warrants were measured according to fair value through profit or loss and meet level 3 criteria. On February 2, 2022, Maris completed an IPO. The Company participated in this IPO and invested an additional amount of USD 100 thousand in Maris-Tech to purchase additional 23,810 shares and warrants. Following this IPO and as of December 31, 2022, the Company holds 1.28% of Maris’s issued and outstanding share capital and the investment was transferred from level 3 criteria to level 1 criteria. During 2022 the Company invested in Bubbles an amount of USD 306 thousand to purchase 1,236,000 shares and holds 1.49% of Bubbles’ issued and outstanding share capital as of December 31, 2022. The investment was measured according to fair value through profit or loss and meets level 1 criteria. In April 2022 the Company invested in ClearMind an amount of USD 1,250 thousand to purchase 66,245 shares and warrants. In November 2022, the Company invested an additional amount of USD 500 thousand to purchase additional 76,800 shares and holds 5.77% of ClearMind’s issued and outstanding share capital as of December 31, 2022. The investment was measured according to fair value through profit or loss and meets level 1 criteria. During 2022 the Company invested in Colugo an amount of USD 400 thousand to purchase 24,920 shares and holds 0.97% of Colugo’s issued and outstanding share capital as of December 31, 2022. The investment was measured according to fair value through profit or loss and meets level 3 criteria. During 2022 the Company invested in Automax bonds an amount of USD 68 thousand to purchase 220,000 bonds. During April and May 2022, the Company sold 190,000 bonds. The Automax bonds were accounted for as asset through profit or loss measured at fair value and meets level 1 criteria. Polyrizon Options- the Original Option (as defined in note 4H) was measured at fair value through profit or loss and was calculated using the Black & Scholes option pricing model. The Original Option and the Alternative Option (as defined in note 4H) was calculated based on management’s expectations for the IPO scenario. IPO scenario: share price: USD 1 of expected IPO share price, expected volatility of 81.99%, risk-free interest of 4.22%, expected term of 3.55 years following the grant date. The following table presents the level 1 and level 3 fair value financial assets as of December 31, 2022, and 2021 December 31, December 31, Level 1 Level 3 Total Level 1 Level 3 Total USD in thousands Gix Internet anti-dilution protection (note 4F) - - - - 469 469 Laminera shares (note 4N) - - - - 126 126 Safo shares 10 - 10 53 - 53 Safo warrants - - - - 34 34 Maris shares 84 - 84 - 246 246 Maris warrants - 13 13 - 57 57 Tondo shares 97 - 97 429 - 429 Safee shares (note 4P) - 400 400 - 400 400 SciSparc shares (note 4K) 659 - 659 911 - 911 Polyrizon warrants (note 4H) - 399 399 - 516 516 Polyrizon - SAFE (note 4H) - 302 302 - - - Elbit Imaging shares (note 4J) 613 - 613 - - - ClearMind warrants (note 4O) - 4 4 - - - ClearMind shares (note 4O) 594 - 594 - - - ClearMind anti-dilution protection (note 4O) - - - - - - Colugo shares - 400 400 - - - Parazero - SAFE (note 4M) - 520 520 - - - Bubbles shares 151 - 151 - - - Automax bonds (note 4G) 9 - 9 - - - Automax shares (note 4G) 1,114 - 1,114 1,676 - 1,676 Total 3,331 2,038 5,369 3,069 1,848 4,917 The following table presents the Level 1 financial assets roll-forward during 2022: ClearMind Safo A.I Systems Tondo Bubbles SciSparc Maris Automax bonds Investment Elbit Automax shares Total USD in thousands Balance as of January 1, 2022 53 - 429 - 911 - - - 1,676 3,069 Purchase of securities - 75 - 306 32 75 69 1,512 - 214 2,283 Net changes at fair value recognized through profit or loss (43 ) - (26 ) (148 ) (15 ) (238 ) - (1,207 ) (217 ) (578 ) (2,472 ) Sale of securities - (103 ) (344 ) (46 ) - (60 ) - - - (553 ) Realized gain (loss) - 28 67 - (223 ) - 1 - - - (127 ) Exchange differences - - (29 ) (7 ) - - (1 ) (2 ) - (198 ) (237 ) transfer from level 3 to level 1 - - - - - 247 - 291 - - 538 Transfer from equity method to level 1 - - - - - - - - 830 - 830 Balance as of December 31, 2022 10 - 97 151 659 84 9 594 613 1,114 3,331 The following table presents the Level 3 financial assets roll-forward during 2022: Maris Polyrizon warrants Laminera Gix Internet SAFO Warrants ClearMind warrants ClearMind anti-dilution Safee Parazero -SAFE Polyrizon -SAFE Colugo Total USD in thousands Balance as of January 1, 2022 303 516 126 469 34 - - 400 - - - 1,848 Initial recognition of financial asset 25 - - - - 197 40 - 520 314 400 1,496 Exchange differences - - (42 ) - (1 ) (20 ) - - - - (63 ) Net change at fair value recognized through profit or loss (68 ) (117 ) 507 (427 ) (34 ) (200 ) 279 - - (12 ) (72 ) transfer to equity investment treatment - - (633 ) - - - - - - - (633 ) transfer from level 3 to level 1 (247 ) - - - - 8 (299 ) - - - (538 ) Balance as of December 31, 2022 13 399 - - - 4 - 400 520 302 400 2,038 The following table presents the Level 1 financial assets roll-forward during 2021: Investment Tondo SciSparc Automax Total USD in thousands Balance as of January 1, 2021 113 - - - 113 Initial recognition at fair value upon dilution of equity investment - - - 1,553 1,553 Purchase of securities - 472 825 279 1,576 Sale of securities - (42 ) - (42 ) Net change in fair value of financial assets at fair value recognized through profit or loss (60 ) (1 ) 86 (156 ) (131 ) Balance as of December 31, 2021 53 429 911 1,676 3,069 The following table presents the Level 3 financial assets roll-forward during 2021: Gix Media’s shares Gix Warrants ScoutCam warrants Maris investment and warrants Conversion Right Polyrizon warrants Laminera Gix Internet SAFO Warrants Safee Total USD in thousands Balance as of January 1, 2021 2,438 14 - - 1,393 - - 473 98 - 4,416 Initial recognition at fair value of ScoutCam warrants upon deconsolidation (note 4C) - - 97 - - - - - - - 97 Exercise of warrants - - (51 ) - - - - - - - (51 ) Purchase of securities - - - - - - - - - 400 400 Initial recognition of financial asset - - - 240 - - 126 - - - 366 Net changes at fair value recognized through profit or loss 373 (14 ) (46 ) 63 213 516 - (4 ) (64 ) - 1,037 Exercise of Conversion Right (note 4F) (2,811 ) - - - (1,606 ) - - - - - (4,417 ) Balance as of December 31, 2021 - - - 303 - 516 126 469 34 400 1,848 Financial liabilities Level 1 financial instruments: As of December 31, 2022, and 2021, the Group has a financial liability measured at level 1 – Warrants C (see note 14b). The fair value of financial instruments traded in active markets is based on quoted market prices at the statement of financial position date. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm’s length basis. Level 3 financial instruments: As of December 31, 2022, and 2021, the Group has financial liabilities measured at level 3 – commitment to issue warrants to lenders of Jeffs’ Brands upon IPO and derivative liabilities of Jeffs’ Brands (see note 4E). The following table presents the financial liabilities that were measured at fair value through profit or loss: December 31, December 31, 2022 2021 Level 1 Level 3 Total Level 1 Level 3 Total USD in thousands USD in thousands Fair value of warrants 396 4,159 4,555 555 137 692 The following table presents the Level 3 financial liabilities roll-forward during 2022: Warrants USD in thousands Opening balance as of January 1, 2022 137 Issuance of warrants in connection with the IPO of Jeffs’ Brands (note 4E) 7,640 Changes in fair value of warrants in connection with the IPO of Jeffs; Brands (3,490 ) Changes in fair value of warrants issued to lenders of Jeffs’ Brands upon IPO (128 ) Closing balance as of December 31, 2022 4,159 The following table presents the Level 3 financial liabilities roll-forward during 2021: Warrants USD in thousands Opening balance as of January 1, 2021 36 Changes in fair value of warrants issued to investors (36 ) Fair value of warrants to be issued to lenders of Jeffs’ Brands upon IPO 62 Changes in fair value of warrants to be issued to lenders of Jeffs’ Brands upon IPO 75 Closing balance as of December 31, 2021 137 The following table presents the Level 1 financial liabilities roll-forward during 2022: Warrants USD in thousands Opening balance as of January 1, 2022 555 Changes in fair value of warrants (159 ) Closing balance as of December 31, 2022 396 The following table presents the Level 1 financial liabilities roll-forward during 2021: Warrants USD in thousands Opening balance as of January 1, 2021 1,039 Changes in fair value of warrants (484 ) Closing balance as of December 31, 2021 555 Valuation processes of the Group: Set forth below are details regarding the valuation processes of the Group as of December 31,2022: 1) Warrants issued on November 1, 2017: as part of a public offering - the Company used the Black-Scholes model, using the following principal assumptions: expected volatility of 67.06%, risk-free interest of 4.76%, expected term of 5.5 years following the grant date. The liability amount is adjusted at each statement of financial position date based on the then relevant assumptions, until the earlier of full exercise or expiration. For details, see note 14b. Warrants issued on July 18, 2018: as part of a direct offering - the Company used the Black-Scholes model, using the following principal assumptions: expected volatility of 67.06%, risk-free interest of 4.76%, expected term of 5 years following the grant date. The liability amount is adjusted at each statement of financial position date based on the then relevant assumptions, until the earlier of full exercise or expiration. For details, see note 14b. Series C warrants - financial instruments measured at fair value through profit or loss. For details, see note 14b. 2) Jeffs’ Brands warrants - On August 30, 2022, Jeffs’ Brands completed its initial public offering (“IPO”), In connection with the IPO, Jeffs’ Brands sold 3,717,473 units at a public offering price of USD 4.16 per unit, with each unit consisting of one ordinary share, no par value per share (“Ordinary Share”), and one warrant (“IPO Warrant”), to purchase one Ordinary Share, at an exercise price of USD 4.04 per Ordinary Share. Additionally, Jeffs’ Brands issued warrants to the underwriter to purchase up to 185,873 ordinary shares at an exercise price of USD 5.20 per Ordinary Share (“Underwriter’s Warrants”). The underwriter partially exercised its right to purchase an additional 425,912 warrants for total consideration of USD 4 thousand. Jeffs’ Brands received total net proceeds of USD 13.4 million after deducting issuance costs of USD 2.1 million. On September 7, 2022, Jeffs’ Brands’ volume weighted average stock price was less than the exercise floor of USD 4.04 for the IPO Warrants. Accordingly, and based on the contractual terms of the IPO Warrants, effective after the closing of trading on November 28, 2022 (the 90th calendar day immediately following the issuance date of the IPO Warrants), the IPO Warrants were adjusted (“As-Adjusted IPO Warrants”) pursuant to their terms, including, but not limited to, the reduction of the exercise price of the IPO Warrants to USD 2.02. Additionally, Additional Warrants were issued to each qualified buyer who continued to hold at least 120,192 IPO Warrants as of November 28, 2022. Accordingly, Jeffs’ Brands issued Additional Warrants to purchase 2,824,525 Ordinary Shares. Each Additional Warrant has substantially the same terms as the As-Adjusted IPO Warrant; provided, however, that the term of each Additional Warrant will be five (5) years from the issuance date and such Additional Warrant will not be listed on any securities exchange. In addition, as long as the Additional Warrants are outstanding, each holder of at least 120,192 IPO Warrants will receive semi-annual payments based on the Jeffs’ Brands consolidated revenues, dependent on the amount of the Additional Warrants outstanding. As of December 31, 2022, the payment will be equal to approximately 2.3% of Jeffs’ Brands consolidated revenues for the period ended December 31,2022. The following table lists the significant unobservable inputs used for calculation of fair value of the IPO Warrants and Additional Warrants during the year: Expected volatility 77.57% - 78.89% Exercise price (in USD) 2.02 - 4.04 Share price (in USD) 1.53 - 1.865 Risk-free interest rate 3.27% - 4.04% Dividend yield - Expected life 3 - 4.74 WACC 21.5% - 23.3% 3) Investments in SAFO, Tondo, SciSparc, Maris, Automax shares and bonds, ClearMind, Elbit and Bubbles - financial instruments measured at fair value through profit or loss. and meet level 1 criteria. 4) Safee shares - on October 12, 2021, the Company invested in Safee. Since Safee is a small private company, which does not raise funds on a regular basis and does not have significant activity that indicates a change in fair value, the Company assumes that there is no reason to believe that there is a material change in value and that the investment value adequately represents the fair value at the reporting date. This assumption is reviewed at each cut-off date. 5) Maris warrants - the Company used the Black-Scholes model, using the following principal assumptions: share price: USD 0.83, expected volatility of 83.57%, risk-free interest of 4.22%, expected term of 3 years following the grant date. The asset amount is adjusted at each statement of financial position date based on the then relevant assumptions, until the earlier of full exercise or expiration. 6) Colugo shares - the Company assumes that there is no reason to believe that there is a material change in value and that the investment value adequately represents the fair value at the reporting date. This assumption is reviewed at each cut-off date. 7) SAFO warrants - the Company used the Black-Scholes model, using the following principal assumptions: share price: USD 0.75, expected volatility of 78.86%, risk-free interest of 4.73%, expected term of 3 years following the grant date. The asset amount is adjusted at each statement of financial position date based on the then relevant assumptions, until the earlier of full exercise or expiration. 8) Polyrizon Options - the Original Option (as defined in note 4H) was measured at fair value through profit or loss and was calculated using the Black-Scholes option price model. The Original Option (as defined in note 3H) was calculated based on management’s expectations for the IPO scenario. Non-IPO scenario: share price: USD 0.0544, expected volatility of 78.19%, risk-free interest of 4.69%, expected term of 2.77 years following the grant date. IPO scenario: share price: 125% of expected IPO share price, expected volatility of 81.99%, risk-free interest of 4.2%, expected term of 3years following the grant date. 9) Polyrizon SAFE - on January 27, 2022, the Company invested USD 111 thousand and on May 8, 2022, the Company invested USD 204 thousand. The Company used the binomial pricing model, using the following principal assumptions: Risk-free interest of 4.76%, expected term of 0.58 years as of December 31, 2022. The asset amount is adjusted at each statement of financial position date based on the then relevant assumptions, until the earlier of full exercise or expiration. 10) Options to employees and advisors. For details, see note 14c. Set forth below are details regarding the valuation processes of the Group as of December 31,2021: 1) Warrants issued on December 6, 2016: as part of a registered direct offering - the Company used the Black-Scholes model, using the following principal assumptions: expected volatility of 63.32%, risk-free interest of 0.19%, expected term of 5.5 years following the grant date. The liability amount is adjusted at each statement of financial position date based on the then relevant assumptions, until the earlier of full exercise or expiration. see note 14b. Warrants issued on March 29, 2017: as part of a public offering - the Company used the Black-Scholes model, using the following principal assumptions: expected volatility of 63.2%, risk-free interest of 0.19%, expected term of 5 years following the grant date. The liability amount is adjusted at each statement of financial position date based on the then relevant assumptions, until the earlier of full exercise or expiration. For details, see note 14b. Warrants issued on November 28, 2017: as part of a direct offering - the Company used the Black-Scholes model, using the following principal assumptions: expected volatility of 63.2%, risk-free interest of 0.19%, expected term of 5.5 years following the grant date. The liability amount is adjusted at each statement of financial position date based on the then relevant assumptions, until the earlier of full exercise or expiration. For details, see note 14b. Series C warrants - financial instruments measured at fair value through profit or loss. For details, see note 14b. 2) Gix Internet Anti-dilution feature - the Company used the Black-Scholes model, using the following principal assumptions: share price: NIS 1.45, 25% probability for the occurrence of an anti-dilution event, expected volatility of 46.85%, risk-free interest of 0.67%, expected term of 3 years following the issuance date. 3) ScoutCam warrants - the Company used the Black-Scholes model, using the following principal assumptions: share price of USD 6.3, expected volatility of 49.5%, risk-free interest of 0.65%, expected term of 3 years following the grant date. The asset amount is adjusted at each statement of financial position date based on the then relevant assumptions, until the earlier of full exercise or expiration. 4) Gix Warrants - the Company used the Black-Scholes model, using the following principal assumptions: share price of NIS 1.45, expected volatility of 46.85%, risk-free interest of 0.67%, expected term of 3 years following the grant date. The asset amount is adjusted at each statement of financial position date based on the then relevant assumptions, until the earlier of full exercise or expiration. 5) Investments in SAFO, Tondo, SciSparc and Automax - financial instruments measured at fair value through profit or loss and meet level 1 criteria. 6) Safee shares - on October 12, 2021, the Company invested in Safee. Since Safee is a small private company, which does not raise funds on a regular basis and does not have significant activity that indicates a change in fair value, the Company assumes that there is no reason to believe that there is a material change in value and that the investment value adequately represents the fair value at the reporting date. This assumption is reviewed at each cut-off date. 7) Maris investment - on March 24, 2021 the Company invested in Maris. On February 01, 2022, Maris completed initial public offering of units consisting of warrants and shares for USD 4.2 per unit and started to trade on Nasdaq at USD 3.15 per share. The Company assumed the share price as of the first trading date of Maris shares represents the fair value of Maris shares as of December 31, 2021. The fair value of the warrants was calculated using the Black & Scholes option price model, based on the following assumptions: Non-IPO scenario: share price: USD 3.15, expected volatility of 63.2%, risk-free interest of 0.24%, expected term of 2.5 years following the grant date. IPO scenario: share price: USD 3.15, expected volatility of 55.81%, risk-free interest of 0.81%, expected term of 5 years following the grant date. 8) SAFO warrants - the Company used the Black-Scholes model, using the following principal assumptions: share price: USD 7.56, expected volatility of 78.86%, risk-free interest of 0.97%, expected term of 3 years following the grant date. The asset amount is adjusted at each statement of financial position date based on the then relevant assumptions, until the earlier of full exercise or expiration. 9) Polyrizon Options - the Original Option (as defined in note 4H) was measured at fair value through profit or loss and was calculated using the Black & Scholes option price model. The Original Option and the Alternative Option (as defined in note 4H) was calculated based on management’s expectations for the IPO scenario. Non-IPO scenario: share price: USD 0.0544, expected volatility of 87.86%, risk-free interest of 0.85%, expected term of 2.77 years following the grant date. IPO scenario: share price: 120% of expected IPO share price, expected volatility of 93.76%, risk-free interest of 0.97%, expected term of 3.55 years following the grant date. 10) Options to employees and advisors. For details, see note 14c. |
Cash and Cash Equivalents, Shor
Cash and Cash Equivalents, Short Term Deposit and Pledged Deposit | 12 Months Ended |
Dec. 31, 2022 | |
Cash and Cash Equivalents, Short Term Deposit and Pledged Deposit [Abstract] | |
CASH AND CASH EQUIVALENTS, SHORT TERM DEPOSIT AND PLEDGED DEPOSIT | NOTE 6 – CASH AND CASH EQUIVALENTS, SHORT TERM DEPOSIT AND RESTRICTED CASH: December 31 2022 2021 USD in thousands Cash and cash equivalents – held in bank accounts 20,065 24,025 Short term deposits – held in bank accounts 859 - Restricted cash – held in bank accounts (*) 185 - 21,109 24,025 (*) Gix Media has pledged deposits in an aggregated amount of approximately NIS 523 thousand (USD 149 thousand) as guarantees for credit cards, banks and for the owner of the rented property. Cortex has a pledged deposit in the amount of NIS 107 thousand (USD 36 thousand) as a guarantee for the leased offices. The currencies in which the cash and cash equivalents, short term deposit and restricted cash are denominated or to which they are linked are as follows: December 31 2022 2021 USD in thousands USD 14,680 22,151 NIS 6,428 1,874 Other currencies 1 - 21,109 24,025 The carrying amount of cash and cash equivalents, short term deposit and pledged deposit approximates their fair value. |
Other Receivables Prepaid Expen
Other Receivables Prepaid Expenses and Loans to Others | 12 Months Ended |
Dec. 31, 2022 | |
Other Current Assets [Abstract] | |
OTHER RECEIVABLES, PREPAID EXPENSES AND LOANS TO OTHERS | NOTE 7 – OTHER RECEIVABLES, PREPAID EXPENSES AND LOANS TO OTHERS: a. Other receivables and prepaid expenses December 31 2022 2021 USD in thousands Government institutions 924 79 Prepaid expenses 469 126 Advances to suppliers 417 18 Other 118 192 1,928 415 b. Loans to others December 31 2022 2021 USD in thousands Loan to Safee (see note 4D) 71 - Loan to A.I Systems Ltd. * 940 - 1,011 - * On August 23, 2022, the Company signed a convertible loan agreement with A.I Artificial Intelligence Research and Development Ltd. (A.I R&D Ltd.) for the assignment of a loan it has given to A.I Systems Ltd, a public company traded in Tel Aviv. The original loan amount was NIS 6,000 thousand. According to the agreement, the Company purchased from A.I R&D Ltd., 50% from the original loan in exchange for USD 914 thousand (NIS 3,000 thousand) in the same terms of the original loan given to A.I Systems Ltd. According to the agreement, the loan will bear an interest of 1% per month. Additionally, A.I Systems Ltd. has the right to choose to repay the loan and interest in cash or to convert it into shares of A.I Systems Ltd. on March 13, 2023. The number of shares will be equal to the amount of the loan (NIS 3,000 thousand) plus NIS 1,750 thousand divided by the average quoted price per share of A.I System Ltd. during a period of 30 trading days preceding the conversion date. The loan was accounted for as financial assets measured at fair value through profit or loss. As of December 31, 2022, the fair value of the loan was USD 940 thousand (NIS 3,307 thousand). On March 12, 2023, the Company entered into an amendment to the conversion loan agreement. According to the amendment, the repayment will be postponed by 3 months, to June 13, 2023. |
Inventory
Inventory | 12 Months Ended |
Dec. 31, 2022 | |
Inventory [Abstract] | |
INVENTORY | NOTE 8 – INVENTORY: Composed as follows: December 31 2022 2021 USD in thousands Goods in transit 8 161 Finished goods 1,783 1,066 1,791 1,227 As of December 31, 2022 and 2021, the inventory is derived from Jeffs’ Brands. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2022 | |
Property and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT | NOTE 9 - PROPERTY AND EQUIPMENT: a. Composition of property and equipment and accumulated depreciation thereon, grouped by major classifications and changes therein, and their movements during 2022: Machinery Leasehold Computer Total USD in thousands Cost: Balance as of January 01, 2022 735 135 537 1,407 Additions - 42 32 74 Consolidation of Gix Internet (note 4F) - 425 542 967 Currency translation - (10 ) (15 ) (25 ) Balance as of December 31, 2022 735 592 1,096 2,423 Accumulated Depreciation: Balance as of January 01, 2022 692 126 512 1,330 Consolidation of Gix Internet (note 4F) - 205 401 606 Additions 10 48 41 99 Currency translation (13 ) (7 ) - (20 ) Balance as of December 31, 2022 689 372 954 2,015 Property and Equipment, net, as of December 31, 2022 46 220 142 408 b. Composition of property and equipment and accumulated depreciation thereon, grouped by major classifications and changes therein, and their movements during 2021: Machinery Leasehold Computer Total USD in thousands Cost: Balance as of January 01, 2021 947 172 605 1,724 Additions 99 1 39 139 Removal upon deconsolidation (311 ) (38 ) (107 ) (456 ) Balance as of December 31, 2021 735 135 537 1,407 Accumulated Depreciation: Balance as of January 01, 2021 703 149 527 1,379 Additions 19 3 16 38 Removal upon deconsolidation (30 ) (26 ) (31 ) (87 ) Balance as of December 31, 2021 692 126 512 1,330 Property and Equipment, net, as of December 31, 2021 43 9 25 77 |
Goodwill and Inatangible Assets
Goodwill and Inatangible Assets | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill and Inatangible Assets [Abstract] | |
GOODWILL AND INATANGIBLE ASSETS | NOTE 10 – GOODWILL AND INATANGIBLE ASSETS: A. Composition and movements: Technology Software license Patent Brand name Customer relationship Goodwill Total USD in thousands Cost: Balance as of January 01, 2022 478 1,506 75 6,039 - 926 9,024 Additions - 35 - - - - 35 Currency translation (42 ) (175 ) - - - (23 ) (240 ) Consolidation of Gix Internet (note 4F) 12,485 - - - 6,234 8,164 26,883 Balance as of December 31, 2022 12,921 1,366 75 6,039 6,234 9,068 35,703 Accumulated Amortization: Balance as of January 01, 2022 (69) - - (634 ) - - (703 ) Additions (1,712 ) - - (596 ) (742 ) - (3,050 ) Currency translation (74 ) - - - - - (74 ) Consolidation of Gix Internet (note 4F) (1,014 ) - - - - - (1,014 ) Balance as of December 31, 2022 (2,869 ) - - (1,230 ) (742 ) - (4,841 ) Intangible assets, net, as of December 31, 2022 10,052 1,366 75 4,809 5,492 9,068 30,862 Technology Software Patent Brand Goodwill Total USD in thousands Cost: Balance as of January 01, 2021 199 - - - 296 495 Additions 279 1,460 75 4,728 55 6,597 Currency translation - 46 - - 11 57 Acquisition of subsidiary - - - 1,311 564 1,875 Balance as of December 31, 2021 478 1,506 75 6,039 926 9,024 Accumulated Amortization: Balance as of January 01, 2021 - - - - - - Additions (69 ) - - - - (69 ) Impairment - - - (89 ) - (89 ) Acquisition of subsidiary - - - (545 ) - (545 ) Balance as of December 31, 2021 (69 ) - - (634 ) - (703 ) Intangible assets, net, as of December 31, 2021 409 1,506 75 5,405 926 8,321 B. Additions during the year: Through the period from February 14, 2022, up to February 28, 2022, the Company’s interest in Gix Internet increased to 38.03%, which resulted in gain of control in Gix Internet. Accordingly, Gix Internet was consolidated as of such date and the investment. As of the consolidation date the Company recorded intangible assets in the amount of USD 17,705 thousand and goodwill in the amount of USD 6,602 thousand. For additional information see note 4F. On January 4, 2021, the Company closed a common stock purchase agreement with Pro, Purex and their respective stockholders (the “Pro and Purex SPA”). As of the acquisition date the Company recorded intangible assets in the amount of USD 1,311 thousand and goodwill in the amount of USD 688 thousand. For additional information about the stock exchange with Jeffs’ Brands, see note 4E. On January 7, 2021, Charging Robotics purchased a provisional patent filed with the United States Patent and Trademark Office and know-how relating to wireless vehicle battery charging technology in consideration for USD 75 thousand. For additional information see note 4I. On February 2, 2021, Pro entered into purchase agreement of a virtual store “Whoobli” from a third party (hereafter - the “Whoobli Seller”). As part of the agreement, Pro purchased a seller account which operates on the Amazon.com website under the name “Whoobli”, which markets a private label of basketball shooting baskets, children’s punching bags and decoration for children’s birthday parties, including the intellectual property attributed to it and including trademarks attributed to products sold on the account’s sales page, for a total of USD 4,000 thousand. In addition, in accordance with the agreement, Pro purchased from Whoobli seller the remaining inventory for a total amount of approximately USD 350 thousand, which is the cost of the inventory purchased by Whoobli seller. On the date of the acquisition, Pro fully recognized all the amount of the acquisition as an intangible asset, and in the Company’s management opinion, the useful life of the intangible asset recognized is 10 years. On February 2, 2021, Pro entered into a purchase agreement of a virtual store “Wellted” from a third party (hereafter - the “Wellted Seller”). As part of the agreement, Pro purchased a seller account which operates on the Amazon.com website under the name “Wellted”, which markets a private label of brushes used for removing and cleaning animal body hair from fabrics, including the intellectual property attributed to it and including trademarks attributed to products sold on the account’s sales page, for a total amount of USD 250 thousand. In addition, in accordance with the agreement, Pro purchased from Wellted seller the inventory that remained in his possession for a total of approximately USD 55 thousand, which is the cost of the inventory purchased by Wellted seller. On the date of the acquisition, Pro fully recognized all the amount of the acquisition as an intangible asset, and in the Company’s management opinion, the useful life of the intangible asset recognized is 10 years. On February 3, 2021, Pro entered into purchase agreement of a virtual store “Pet-evo” from a third party (hereafter - the “Pet-evo Seller”). As part of the agreement, Pro purchased a seller account which operates on the Amazon.com website under the name “Pet-evo”, which markets a private label of used car door protectors from damage caused by animals, including the intellectual property attributed to it and including trademarks attributed to products sold on the account’s sales page, for a total of USD 450 thousand. In addition, in accordance with the agreement, Pro purchased from Pet-evo seller the inventory that remained in his possession for a total of approximately USD 35 thousand, which is the cost of the inventory purchased by Pet-evo seller. On the date of the acquisition, Pro fully recognized all the amount of the acquisition as an intangible asset, and in the Company’s management opinion, the useful life of the intangible asset recognized is 10 years. On February 4, 2021, Eventer signed an addendum to the agreement with Screenz Cross Media Ltd. (a company owned and managed by Eli Uzan who serves as the Company’s President). The agreement was signed during November 2020 for the purpose of collaborating in the field of virtual conferences. According to the provisions of the addendum to the agreement, Eventer will receive an exclusive license for using the broadcasting system of Screenz with respect to the field of virtual conferences and development services, and in exchange will pay Screenz an amount of USD 1,500 thousand (approximately NIS 4,280 thousand) over a period of 8 months, as well as 8% from the revenues earned from using the broadcasting system in the field of virtual conferences. In March 2021, Purex received an update from Amazon.com (Hereafter – “Amazon”) regarding a new Environmental Protection Agency (EPA) regulation. Following the new EPA regulation, Amazon categorized the Purex’ product as a pesticide product. Amazon requires that pesticide products be filed with evidence of an EPA registration number and/or EPA Establishment number or certification that the product is exempt from EPA regulation, otherwise the existing listing (of the product) may be subject to removal. Purex examined the related costs following that requirement to comply with such regulations and decided to write off the intangible asset balance. Therefore, the Group eliminated the intangible asset related sum to the amount of USD 87 thousand. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
LEASES | NOTE 11 – LEASES: On May 21, 2022, the Company has entered into a short-term lease agreement for its offices. According to the agreement, the Company will pay NIS 17 thousand plus VAT per month. On December 30, 2022, the Company terminated the agreement and paid the lessor a one-time compensation of NIS 11 thousand. Jeffs’ Brands leases office space with a remaining useful life of less than 3 years and uses its incremental borrowing rate as the discount rate for its leases, as the implicit rate in the lease is not readily determinable. As of December 31, 2022, Jeffs’ leases had a weighted average remaining lease term of 3 years and a weighted average borrowing rate of 10%. On February 25, 2021, Gix Media entered into a lease agreement for a new corporate office of 479 square meters in Ramat Gan, Israel, at a monthly rent fee of USD 10 thousand. The lease period is for 36 months (the “initial lease period”) with an option by the Gix Media to extend the lease period for two additional terms of 24 months each. In accordance with the lease agreement, Gix Media made leasehold improvements in exchange for a rent fee discount of USD 67 thousand which will be spread over the initial lease period. The Company includes renewal options that it is reasonably certain to exercise in the measurement of the lease liability. Right-of-use assets Buildings USD in Cost: At December 31, 2021 - Acquisition of subsidiary 619 Additions 152 At December 31, 2022 771 Accumulated Depreciation: At December 31, 2021 - Acquisition of subsidiary (92 ) Charge for the year (88 ) At December 31, 2022 (180 ) Carrying amount At 31 December 2022 591 December 31 2022 USD in thousands Amounts recognized in profit and loss Depreciation expense on right-of-use assets 88 Interest expense on lease liabilities 82 Expense relating to short-term leases 71 Lease liabilities Maturities of lease liabilities as of December 31, 2022, are as follows: 2022 USD in thousands Year 1 148 Year 2 148 Year 3 133 Year 4 114 Year 5 118 Onwards 19 Less: unearned interest (37 ) 643 Analyzed as: Non-current 512 Current 131 643 |
Taxes on Income
Taxes on Income | 12 Months Ended |
Dec. 31, 2022 | |
Taxes on Income [Abstract] | |
TAXES ON INCOME | NOTE 12 - TAXES ON INCOME: a. Tax rates applicable to the Company and subsidiaries: For the Company and all subsidiaries based in Israel, Eventer, Jeffs’ Brands and its subsidiary Top Rank and Viewbix Ltd. are taxed according to Israeli tax law, where the corporate tax rate is 23% for the years 2022, 2021 and 2020. Gix Internet and its subsidiaries Gix Media and Cortex Media Group are recognized as a “Preferred-Technology Enterprise” in accordance with Section 51 of the Encouragement of Capital Investments Law, 1959 and are taxed at a reduced corporate tax rate of 12%. For all subsidiaries of the Company based in the US, Viewbix Inc. and Jeffs’ Brands subsidiaries – Smart Pro and Purex are taxed according to US tax rates, which is 21%. b. Final tax assessments: As of December 31, 2022, the Company has a final tax assessment for all tax year up to the year ended December 31, 2017. As of December 31, 2022, Gix Media has a final tax assessment for all tax year up to the year ended December 31, 2020. Cortex has a final tax assessment for all tax year up to the year ended December 31, 2018.Viewbix Israel has a final tax assessment for all tax year up to the year ended December 31, 2018. As of December 31, 2022, Eventer has a final tax assessment for all tax year up to the year ended December 31, 2018. c. Deferred taxes are comprised of the following components: Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred taxes are comprised of the following components: As of As of 2022 2021 USD in thousands Deferred tax assets Deferred research and development expenses 261 - Intangible assets 110 55 Employee compensation and benefits 13 - Other - 40 Accrued severance pay 13 - Total deferred tax assets 397 95 Deferred tax liabilities: Differences between tax basis and carrying values of loans - 111 Intangible assets associated with business combinations 1,817 220 Total deferred tax liabilities 1,817 331 Net deferred tax liabilities 1,420 236 Income tax expenses are comprised as follows: Year ended December 31, 2022 2021 2020 USD in thousands Current tax expenses 813 94 9 Tax benefit in respect of prior years (82 ) - - Deferred tax expenses (income) (620 ) 11 - Taxes on expenses 111 105 9 d. Carry forward tax losses December 31, December 31, USD in thousands Medigus* 60,000 62,000 Eventer* 3,300 2,700 Charging Robotics* 574 360 GERD IP* 786 857 Jeffs’ Brands* 1,217 747 Jeffs’ Brands subsidiaries - 49 Gix Internet 18,471 - * There is no record deferred taxes asset in respect of these losses, as the utilization thereof is not expected to occur in the foreseeable future. f. Taxes on income included in the Statements of Loss and Other Comprehensive Loss for the periods presented: The following is reconciliation between the “theoretical” tax, which would apply to the Group if all of its income were taxed at the regular rate applicable to the Company in Israel and the amount of tax reflected in the consolidated statements of loss and other comprehensive loss for the reported year: 2022 2021 2020 USD in thousands Income (Loss) before taxes on income (10,097 ) 4,151 (6,841 ) Theoretical tax rate 23 % 23 % 23 % Theoretical tax expense (benefit) (2,322 ) 955 (1,575 ) Disallowed deductions (tax exempt income): Change in fair value of assets and liabilities measured at fair value through profit or loss (38 ) (275 ) 86 Share-based compensation 183 539 298 Amortization of excess purchase price of an associate - 60 126 Profit recognized upon deconsolidation - (2,678 ) - Profit recognized upon first time consolidation (529 ) - - Non-deductible expenses 723 - - Different tax rates applicable to subsidiaries (360 ) (85 ) - Tax benefits in respect of prior years (84 ) - - Other 17 - 2 Tax losses and timing differences incurred in the reporting year for which deferred taxes were not created 2,521 1,589 1,072 Taxes on income 111 105 9 |
Accounts Payables, Accrued Expe
Accounts Payables, Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Accounts Payables, Accrued Expenses and Other Current Liabilities [Abstract] | |
ACCOUNTS PAYABLES, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES | NOTE 13 – ACCOUNTS PAYABLES, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES a. Accounts payables are denominated in the following currencies: December 31, 2022 2021 USD in thousands NIS unlinked 2,713 461 USD 17,708 241 20,421 702 b. Accrued expenses and other current liabilities: December 31, 2022 2021 USD in thousands Employees and related institutions 949 185 Government authorities 798 128 Accrued expenses 961 1,080 Other 443 139 3,151 1,532 |
Equity
Equity | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Share Capital Reserves And Other Equity Interest Text Block Abstract | |
EQUITY | NOTE 14 – EQUITY: a. Share capital: 1) Composed as follows: Number of shares Amount Authorized Issued and paid Authorized Issued and paid December 31, December 31, December 31, December 31, 2022 2021 2022 2021 2022 2021 2022 2021 In thousands NIS in thousands USD in thousands Ordinary shares of NIS 1.00 par value as of December 31, 2021, and no-par value as of December 31, 2022 200,000 50,000 24,661 23,850 - - - - 2) The ordinary shares confer upon their holders voting rights and the right to participate in shareholders’ meetings, the right to receive dividends and the right to participate in surplus assets in the event of liquidation of the Company. 3) On February 12, 2021, following the approval of an extraordinary general meeting of the Company shareholders held on February 12, 2021, the Company amended its articles of association to eliminate the par value of its ordinary shares, such that the authorized share capital of the Company following the amendment consists of 1,000,000,000 ordinary shares of no-par value. 4) On January 11, 2021, the Company entered into an underwriting agreement with Aegis Capital Corp. (“Aegis”), pursuant to which the Company agreed to sell to Aegis, in a firm commitment public offering 3,659,735 ADSs, representing a total of 73,194,700 ordinary shares of no-par value for a public offering price of USD 2.30 per ADS. In addition, the Underwriter was granted an option to purchase additional 15 percent of the ADSs sold in the Offering solely to cover over-allotments, exercisable until the earlier of 30-days or the last day of trading of the Company’s ordinary shares on the Tel-Aviv Stock Exchange. Aegis exercised its over-allotment option in full to purchase an additional 548,960 ADSs, the closing of which occurred on January 19, 2021. The total gross proceeds of the offering to approximately USD 9.68 million. 5) On February 25, 2021, the Company entered into an underwriting agreement with Aegis pursuant to which the Company agreed to sell to Aegis, in a firm commitment public offering 3,258,438 ADSs for a public offering price of USD 2.60 per ADS. In addition, Aegis was granted an option to purchase additional 15 percent of the ADSs sold in the offering solely to cover over-allotments. Aegis exercised its over-allotment option in full to purchase an additional 488,765 thousand ADSs. The total gross proceeds of the offering to approximately USD 9.7 million. 6) On June 17, 2022, the Company’s shareholders approved to increase the authorized number of shares from 50 million to 200 million. 7) On July 7, 2022, the Company effected a reverse split of the Company’s authorized and outstanding ordinary shares at a ratio of 20:1 (the “Reverse Split”) and increased the authorized number of shares. Those changes were approved by the Company’s shareholders on June 17, 2022. On July 8, 2022, following the Reverse Split, the Company effected a change in the American Depositary Share (“ADS”) ratios for its American Depositary Receipt program such that each ADS represents one ordinary share of no-par value of the Company (the “Ordinary Share”), instead of twenty (20) pre-Reverse Split Ordinary Shares. The change in the ADS ratio is a technical change made in order to align the ratio so that one ADS equals to one Ordinary Share. 8) On November 14, 2022, the Company effected a change in the ratio of ordinary shares to each of the Company’s American Depositary Shares (“ADSs”), such that after the Reverse Split is implemented each ADS will represent 15 post-Split Ordinary Shares. The effect of such consolidation was applied retrospectively for all the number of shares, warrants, related par value and others presented in this note and elsewhere in the consolidated financial statements. b. Share offering to the public and existing shareholders: The following table summarizes warrants outstanding as of December 31, 2022 Series Date of grant Number of exercise Expiration Series L(*) November 2017 6,750 135 May 27, 2023 Warrants C(*) July 2018 176,045 52.5 July 18, 2023 Warrants C(**) July 2018 28,377 52.5 July 18, 2023 HCW warrants(*) July 2018 13,242 65.63 July 18, 2023 Total 224,414 2021 Series Date of grant Number of exercise Expiration Series I(*) December 2016 665 540 June 06, 2022 Series J(**) December 2016 33 540 June 06, 2022 Warrants A(*) March 2017 35,715 210 March 29, 2022 Placement 03/2017(**) March 2017 2,500 262.5 March 29, 2022 Series L(*) November 2017 6,750 135 May 27, 2023 Series M(**) November 2017 945 150 November 24, 2022 Warrants C(*) July 2018 176,045 52.5 July 18, 2023 Warrants C(**) July 2018 28,377 52.5 July 18, 2023 HCW warrants(*) July 2018 13,242 65.63 July 18, 2023 Algomizer (Note 3)(**) September 2019 22,222 60 September 3, 2022 Total 286,494 * These warrants, under certain circumstances, can be exercised via cashless exercise mechanism as defined in the warrant agreement. Therefore, the warrants were classified as financial liabilities measured at fair value through profit or loss at each reporting period (see note 5). ** Recorded in equity. *** Adjusted to reflect the 1:15 ratio change of the Company’s American Depositary Receipt, or ADR, program. As a result, the number of ordinary shares of the Company represented by each American Depositary Share, or ADS, will be changed from one (1) ordinary share to fifteen (15) ordinary shares. The effective date for the ratio change was November 14, 2022 c. Share based payments 1) In August 2013, the Company board of directors approved and adopted the Company 2013 Share Option and Incentive Plan, or the 2013 Plan, which expires in August 2023. The 2013 Plan provides for the issuance of shares and the granting of options, restricted shares, restricted share units and other share-based awards to employees, directors, officers, consultants, advisors, and service providers of us and the Company U.S. Subsidiary. The Plan provides for awards to be issued at the determination of The Company board of directors in accordance with applicable law. 2) The following are the grants of options to employees and other service providers: Date of grant Number of options granted (**) exercise Currency Fair value Number of Number of Expiration October 2017 38,150 32.4 NIS 942 NIS 13,850 13,850 October 17, 2023 January 2019(*) 150,000 11.8 NIS 947 NIS 112,500 112,500 January 9, 2025 July 2019(*) 62,500 11.8 NIS 325 NIS 62,500 54,688 July 25, 2025 June 2020 62,500 11.8 NIS 283 NIS 62,500 52,083 May 31, 2026 July 2020(*) 37,500 8.96 NIS 123 NIS 37,500 28,125 July 8, 2026 October 2020 15,000 11.8 NIS 70 NIS 15,000 10,000 October 21, 2026 June 2021(*) 900,000 1.783 USD 1,221 USD 900,000 525,000 June 29, 2027 June 2021 280,000 1.783 USD 380 USD 280,000 163,333 June 29, 2027 June 2021 100,000 1.783 USD 136 USD 100,000 50,000 June 1, 2027 October 2021 90,000 1.783 USD 91 USD 90,000 30,000 October 12, 2027 Total 1,735,650 1,673,850 1,039,579 (*) Granted to related parties. (**) Adjusted to reflect the Reverse Split of the Company’s authorized and outstanding ordinary shares at a ratio of 20:1 effected on July 7, 2022. The fair value of all of the options was calculated using the Black and Scholes options pricing model, and based on the following assumptions: Date of grant Fair Share price on date of grant (*) Expected dividend Expected volatility Risk free interest Vesting conditions Expected October 2017 1,109 NIS 32.4 NIS None 64 % 1.16 % four equal batches, following one, two, three and four years from their grant date 6 years January 2019 947 NIS 10.12 NIS None 74 % 1.45 % will vest in 12 equals quarterly instalments over a three-year period commencing October 1, 2018 6 years July 2019 325 NIS 8.72 NIS None 75 % 1.12 % 25% will vest on the first anniversary of the grant date and 75% will vest on a quarterly basis over a period of three years thereafter 6 years June 2020 282 NIS 7.94 NIS None 74 % 0.53 % will vest in 12 equals quarterly instalments over a three-year period commencing June 1, 2020 6 years July 2020 124 NIS 5.8 NIS None 74 % 0.37 % will vest in 12 equals quarterly instalments over a three-year period commencing July 9, 2020 6 years October 2020 70 NIS 8 NIS None 76 % 0.42 % will vest in 12 equals quarterly instalments over a three-year period commencing October 22, 2020 6 years June 2021 1,737 USD 1.8 USD None 87 % 0.69 % Will vest over a period of 3 years commencing on April 1, 2021(except for 2,000,000 options commencing on June 1, 2021), with 1/12 of such options vesting at the end of each subsequent three-month period following the grant 6 years October 2021 91 USD 1.4 USD None 85 % 0.47 % Will vest over a period of 3 years commencing on October 12, 2021, with 1/12 of such options vesting at the end of each subsequent three-month period following the grant 6 years (*) Adjusted to reflect the Reverse Split of the Company’s authorized and outstanding ordinary shares at a ratio of 20:1 effected on July 7, 2022. 3) The changes in the number of share options and the weighted averages of their exercise prices are as follows: For the year ended December 31, 2022 2021 2020 Number of options Weighted average of exercise price per Number of options Weighted average of exercise price per Number of options Weighted average of exercise price per Outstanding at the beginning of year 1,674,950 7.02 348,182 13.6 213,820 17.6 Granted - - 1,370,000 5.81 152,500 11.1 Forfeited (1,100 ) 32.4 (42,778 ) 17.23 (17,723 ) 17.25 Expired - - (454 ) 410 (415 ) 1074 Outstanding at year end 1,673,850 7.00 1,674,950 7.02 348,182 13.6 Exercisable at year end 1,039,579 7.57 530,054 8.78 143,311 16.05 4) The amounts of expenses that were recorded for options to employees and other service providers are USD 624 thousand, USD 1,049 thousand and USD 191 thousand for the years ended December 31, 2022, 2021 and 2020, respectively (these amounts do not include expenses of USD 79 and USD 1,107 thousand recorded in ScoutCam in Q1 2021 and 2020, respectively. The expenses recorded in Eventer in the consolidate period of 2020 are immaterial). 5) The plans are intended to be governed by the terms stipulated by Section 102 to the Israeli Income Tax Ordinance (except for the options to controlling shareholders and directors). In accordance with these general rules and the track chosen by the Company pursuant to the terms thereof, in respect of options granted to employees under the option allotment plan, the Company is not allowed to claim as an expense for tax purposes the amounts credited to employees as a benefit, including amounts recorded as salary benefits in the Company’s books, with the exception of the salary-benefit component, if exists, determined on the grant date. d. Dividends In December 2022, the Company distributed dividends in an aggregated amount of USD 1,582 thousand. |
Expenses by Nature
Expenses by Nature | 12 Months Ended |
Dec. 31, 2022 | |
Expenses by Nature [Abstract] | |
EXPENSES BY NATURE | NOTE 15 – EXPENSES BY NATURE Year ended 2022 2021 2020 USD in thousands Payroll and related expenses 7,647 2,656 2,420 Professional fees 7,421 5,990 2,963 Traffic-acquisition, materials used and subcontracted work 75,455 3,248 1,128 Preparation of patents 153 471 289 Rent and office maintenance 139 158 215 Depreciation and amortization 3,188 342 116 Advertising and participation in exhibitions 1,616 1,712 133 Other 2,262 1,312 732 Amazon Fees 2,558 2,426 - Amortization of excess purchase price of an associate - 263 546 TOTAL COST OF REVENUES, INVENTORY IMPAIRMENT, RESEARCH AND DEVELOPMENT, SELLING AND MARKETING AND GENERAL AND ADMINISTRATIVE EXPENSES 100,439 18,578 8,542 |
Earning (Loss) Per Share
Earning (Loss) Per Share | 12 Months Ended |
Dec. 31, 2022 | |
Earning (Loss) Per Share [Abstract] | |
EARNING (LOSS) PER SHARE | NOTE 16 – EARNING (LOSS) PER SHARE: Basic net earnings (loss) per share is computed by dividing net earnings (loss) attributable to ordinary shareholders of Medigus Ltd. by the weighted average number of ordinary shares outstanding for the reporting periods. Diluted net earnings (loss) per share is computed by dividing the basic net loss per share including adjustment of the dilutive effect of the Company’s revaluation of warrants, by the weighted-average number of ordinary shares and the potential dilutive ordinary shares outstanding during the period. Diluted shares outstanding include the dilutive effect of in-the-money options using the treasury stock method. For the year ended December 31, 2022, and December 31, 2020, the Company reported a net loss, therefore does not have dilutive securities. For the year ended on December 31, 2021, the Company reported net earnings. Nevertheless, all the warrants and options that might be exercised by others into Medigus shares are out of the money, therefore did not have a dilutive effect. The following table presents the numerator and denominator of the basic and diluted net loss per share computations: Year ended 2022 2021 2020 Numerator (USD in thousands): Net earnings (loss) attributable to Medigus Ltd. (9,815 ) 6,794 (4,325 ) Denominator (in thousands): Weighted average number of ordinary shares used for basic and diluted earnings (loss) per share calculation* 24,385 23,036 6,672 Net earnings (loss) per share attributable to Medigus Ltd. (USD): * Basic (0.40 ) 0.2 (0.6 ) Diluted (0.40 ) 0.2 (0.6 ) * Adjusted to reflect the Reverse Split at ratio of 20:1 occurred effected on July 7, 2022 – see also note 14 |
Transactions and Balances with
Transactions and Balances with Related Parties | 12 Months Ended |
Dec. 31, 2022 | |
Transactions and Balances with Related Parties [Abstract] | |
TRANSACTIONS AND BALANCES WITH RELATED PARTIES | NOTE 17 – TRANSACTIONS AND BALANCES WITH RELATED PARTIES: “Related Parties” – As defined in IAS 24 – ‘Related Party Disclosures” (hereinafter- “IAS 24”) Key management personnel of the Company - included together with other entities, in the said definition of “Related Parties” mentioned in IAS 24. a. Transactions with related parties: 1): Year ended on 2022 2021 2020 USD in thousands Benefits to related parties: Payroll and related expenses to related parties employed by the Company* 1,784 1,241 629 Compensation to directors ** 837 733 1,115 Directors’ and Officers’ insurance 846 788 405 Consultant services *** 218 - 208 Interest and discount amortizations of loans from Jeffs’ Brands related parties **** 42 172 - Finance expense on Screenz payable balance (see note 4D) 212 169 - Compensation to member of senior management of Gix Internet ***** 34 - - Eventer sales and marketing expenses to Keshet (see note 4D) 165 279 - Eventer revenues from related parties - 23 - Eventer general and administrative expenses to Screenz 41 13 - * Includes granted options benefit in the aggregated amount of USD 263 thousand, USD 583 thousand and USD 189 thousand for the years ended December 31, 2022, 2021 and 2020, respectively. As for the method used to determine the said value and the assumptions used in calculation thereof, see note 14c. ** Includes granted options benefit in the aggregated amount of USD 81 thousand, USD 195 thousand and USD 734 thousand for the years ended December 31, 2022, 2021 and 2020, respectively and provision and payments of bonus of approximately USD 77 thousand and USD 86 thousand, for each of the years ended December 31, 2022, and 2021, respectively. As for the method used to determine the said value and the assumptions used in calculation thereof, see note 14c. *** Kfir Zilbrman is a related party of Jeff Brands . **** Julia Gerasimova, and Victor Hakmon are related parties of Jeffs’ Brands, see note 4E. ***** Cortex CTO is a related party of Gix Internet. 2) a. Compensation to key management personnel The compensation to key management personnel for employment services they provide to the Company is as follows: Year ended on 2022 2021 2020 USD in thousands For employment services: Payroll and other short-term benefits 1,521 (*) 657 (**) 440 (***) Share based payments 263 584 189 1,784 1,241 629 * Including provision for bonus of approximately USD 349 thousand. ** Including provision for bonus of approximately USD 118 thousand. *** Including provision for bonus of approximately USD 53 thousand. 3) Indemnification, exemption and insurance for directors and officers of the Company a. The Company provides its directors and officers with an obligation for indemnification and exemption. b. The Company has a liability for insurance of directors and officers’ covering all of the Company’s directors and officers. The Company currently has directors’ and officers’ liability insurance providing total coverage of USD 4 million for the benefit of all of the Company directors and officers, in respect of which the Company are charged a twelve-month premium of USD 195, and which includes a deductible of up to USD 1 million per claim, other than securities related claims filed in the United States or Canada, for which the deductible will not exceed USD 2.5 million and USD 5 million in respect of claim with respect to Mergers and Acquisitions. 4) Transactions a. On May 30, 2019, the Company entered into an intercompany services agreement, or the Intercompany Agreement, with ScoutCam, for provision of services by the Company to ScoutCam. On April 19, 2020, the Intercompany Agreement was amended such that ScoutCam shall provide the Company with services to the Company, including usage of ScoutCam offic space in consideration for a fee determined based on the actual usage by the Company. During 2021 no services have been provided under the Intercompany Agreement. On March 22, 2022, the Company received from ScoutCam Ltd. a prior written notice of termination of the Intercompany Agreement effective May 21, 2022. b. On February 12, 2020, ScoutCam’s Inc. Board of Directors authorized the grant of options to purchase 2,235,691 shares of Common Stock to Professor Benad Goldwasser, ScoutCam’s Inc. Chairman of the Board, and options to purchase 1,865,346 shares of Common Stock to certain officers of ScoutCam Inc. Each option is convertible into one share of common stock of ScoutCam Inc. of USD 0.001 par value at an exercise price of USD 0.29. c. On May 1, 2019, the Company entered into a consulting agreement, or the Consulting Agreement, with L.I.A Pure Capital Ltd. or Pure Capital, a company owned by Kfir Zilberman for the provision of business development and strategic consulting services, including ongoing consulting to the Company, its management and its chief executive officer in the fields of M&A and investment activities. In consideration for its services, Pure Capital is entitled to a monthly fee of NIS 40 thousand (approximately USD 11 thousand), a finder’s fee of 5% of any investment of equity or debt introduced by him to the Company and reimbursement of expenses of up to USD 1 thousand per month. As part of Gix Internet investment, Pure Capital received a finder fee in the amount of USD 125 thousand. On January 10, 2021, the Company and Pure Capital entered into amendment no. 2 of the Consulting Agreement. Under amendment no. 2, Pure Capital shall be entitled to a special bonus upon consummation of an offering of the Company’s securities. The special bonus will depend on the gross proceeds of such an offering. The transaction also includes granted options benefit aggregated to USD 189 thousand in 2020. d. On October 15, 2020, the Company signed a share purchase agreement and a revolving loan agreement with Eventer. As part of the share purchase agreement and the revolving loan agreement, the Company invested USD 750 thousand. For additional information see note 3D. On April 8, 2021, Eventer consummated a share purchase agreement for an aggregate amount of USD 2.25 million out of which the Company invested USD 300 thousand. As a result, the Company currently holds approximately 47.69% of Eventer’s share capital. During November 2021, the Company and Eventer agreed that the Initial Advance loan will be repaid the earlier of (i) six months following the Maturity Date of the Initial Advance; or (ii) immediately following an initial public offering of Eventer. On November 11, 2021, the Company loaned additional amount of USD 250 thousand to Eventer be repaid 6 months starting the loan received by eventer. The loan will bear 4% interest per year. e. On April 19, 2020, the Company entered into an Asset Transfer Agreement, effective January 20, 2020, with our majority owned subsidiary GERD IP. Pursuant to the Asset Transfer Agreement, the Company transferred certain of our patents in consideration for seven capital notes issued to us by GERD IP, of USD 2 million each. f. In February 2021, the Company entered into two loans and pledges agreements with Jeffs’ Brands and its other stockholder, to finance Smart Repair Pro’s additional purchases of three new brands on the Amazon online marketplace. Pursuant to the agreements, the Company extended a USD 4 million loans, with an annual interest of 4%, to be repaid on the fifth anniversary of the effective date. Following the closing of an IPO of Jeffs’ Brands, the loans were converted to shares. g. On October 26, 2022, Jeffs’ Brands and Pure Capital entered into a consulting agreement, pursuant to which Pure Capital will provide consulting services to Jeffs’ Brands for a monthly fee of NIS 57.5 thousand (approximately USD 16.5 thousand). Jeffs’ Brands paid Pure Capital a one-time signing bonus in the amount of NIS 425 thousand (approximately USD 121 thousand) for their services to Jeffs’ Brands from the day of Jeffs’ Brands inception until the closing of the IPO. As part of the consulting agreement, Pure Capital is also entitled to the following payment: (i) an amount equal to 7% of the gross proceeds paid to Jeffs’ Brands in connection with any exercise of warrants, whether or not currently outstanding; and (ii) 8% of the total consideration paid in connection with any purchase of a new brand, businesses, or similar events initiated or assisted by Pure Capital and approved by the Chief Executive Officer and Chairman of the Board based on agreement with Pure Capital. The consulting agreement is for an undefined period of time and may be terminated after 3 years from October 26, 2022, by either party upon 30 days advance notice. Additionally, on October 26, 2022, Jeffs’ Brands and Pure NJ Logistics LLC, owned by Pure Capital and a director of Jeffs’ Brands, entered into a warehouse lease agreement for a warehouse located in the USA. As of December 31, 2022, the advances to suppliers comprised of USD 228 thousand that were paid to Pure NJ Logistics LLC. h. On October 30, 2022, the Company signed an amendment to the revolving loan with Eventer. According to the amendment, the maturity date of the loan will be May 30, 2024. In addition, in certain event of securities issuance by Eventer (in an amount of at least USD 2 million), prior the maturity date, the loan will be automatically converted into Eventer's shares with 20% discount. The loan will bear interest of 6% annually. b. Balances with related parties: (1) Current assets under related parties section: December 31, December 31, 2022 2021 USD in thousands Related party prepaid expense (a related party of Eventer) (note 4D) - 981 Advances to Pure Logistics (related party of Jeffs’ Brands) (note 4E) 228 - Other receivables (a related party of Gix Internet) (note 4F) 60 - Other receivables (a related party of Eventer) (note 4D) 10 18 298 999 (2) Current assets under loans to others section: December 31, December 31, 2022 2021 USD in thousands Short term loan to a related party (loan from Medigus to Gix Internet) (note 4F) * - 1,265 Short term loan to a related party (loan from Medigus to Laminera) (note 4N) 93 - Short term loan to a related party (loan from Charging Robotics to Revoltz) (note 4I) 62 - Credit line to Parazero (note 4M) 391 - 546 1,265 * Gix Internet is consolidated commencing February 28, 2022. (3) Current Liabilities: December 31, December 31, 2022 2021 USD in thousands Compensation to key management personnel(*) 649 270 Other payable dividend to related parties of Gix Internet 284 - Current liabilities of Jeffs’ Brands to related parties - 177 Other accrued expenses to related parties of Eventer 122 169 1,055 616 * Compensation to key management: December 31, 2022 2021 USD in thousands Directors’ fee 496 183 Payroll, provision for bonus and for termination of employment 153 87 649 270 (4) Loans: December 31, December 31, 2022 2021 USD in thousands Current portion of long-term payable - Screenz cross media Ltd (a related party of Eventer) (see note 4D) - 506 Long-term payable - Screenz cross media Ltd (a related party of Eventer) (see note 4D) - 711 Short term loans of Jeffs’ Brands from related parties (*) - 111 Long term loans of Jeffs’ Brands from related parties (**) - 689 * Kfir Zilberman is a related party of Jeffs’ Brands. ** Julia Gerasimova, Kfir Zilberman and Victor Hakmon are related parties of Jeffs’ Brands. c. As to options granted to related parties, see note 14c. |
Revenues
Revenues | 12 Months Ended |
Dec. 31, 2022 | |
Revenues [Abstract] | |
REVENUES | NOTE 18 – REVENUES: a. Disaggregation of Revenues: The following table present the Group’s revenues disaggregated by revenue type: Year ended on 2022 2021 2020 USD in thousands Miniature camera and related equipment (from ScoutCam) - 24 491 Revenues from commissions (from Eventer) 2,465 1,185 40 Products (from Jeffs’ Brands) 5,861 6,509 - Revenues from internet services (from Gix Internet) * 83,532 - - MUSE and related equipment (from Medigus). - 2,400 - 91,858 10,118 531 * The revenues from Gix Internet are presented for the period from March 01 ,2022 to December 31, 2022. b. Contract fulfilment assets: The Company’s contract fulfilment assets: December 31, 2021 USD Balance at beginning of year 1,130 Increase in the period relating to ScoutCam 240 Derecognition upon deconsolidation of ScoutCam (note 4C) (1,370 ) Balance at end of year - c. Contract liabilities: The changes in the Company’s contract liabilities were as follows: December 31, December 31, USD in thousands Balance at beginning of year 108 2,649 Deferred revenue relating to new sales 49 1,370 De recognition upon deconsolidation of ScoutCam (note 4C) - (1,511 ) Revenue recognition during the period (108 ) (2,400 ) Balance at end of year 49 108 |
Segments
Segments | 12 Months Ended |
Dec. 31, 2022 | |
Segments [Abstract] | |
SEGMENTS | NOTE 19 – SEGMENTS: The Group identified nine operating segments as follows: medical, e-commerce, online advertising and internet traffic routing, online event management, safety systems for commercial drones, visualization and AI based solutions, energy efficiency technology, electric vehicles and corporate (see note 1a). The Company concluded that the medical, electric vehicles, safety systems for commercial drones, visualization and AI based solutions and energy efficiency technology segments are not “reportable segments” as defined in IFRS 8, Operating Segments The CODM measures and evaluates the operating performance of the Group’s segments based on operating loss (income), assets and liabilities. The table set forth other information of the Group: December 31, 2022 Corporate E-commerce Online Online Others Adjustments and eliminations Total USD in thousands Total segments’ assets 19,478 15,667 50,999 3,208 *11,368 (3,069) 97,651 Total segments’ liabilities (1,198 ) (5,025 ) (33,203 ) (3,244 ) (952 ) 660 (42,962 ) * Includes an investment accounted for using the equity method of USD 9,375 thousand in relation to ScoutCam and an investment accounted for using the equity method of USD 976 thousand in relation to Paraziro. For additional information in relation to assets and liabilities of ScoutCam and Paraziro refer to note 4C and 4M. The table set forth the operating results of the Group: Year ended December 31, 2022 Corporate E-commerce Online Online Others Adjustments Total USD in thousands External revenue - 5,859 83,534 2,465 - - 91,858 Segment results – operating income (loss) (7,301 ) (4,510 ) 2,341 * (748 ) (2,829 )** (736 ) (13,783 ) Non-operating income (loss) (167 ) 3,619 (731 ) (30 ) 137 3,166 5,994 Finance income (loss) (224 ) (520 ) (1,100 ) (539 ) (8 ) 82 (2,309 ) Profit (Loss) before taxes on income (7,692 ) (1,410 ) 510 (1,317 ) (2,700 ) 2,512 (10,097 ) Tax benefit (expense) on income (5 ) 5 (310 ) - 10 189 (111 ) Segment results – profit (loss) (7,697 ) (1,405 ) 200 (1,317 ) (2,690 ) 2,701 (10,208 ) * Includes equity loss of USD 215 thousand in relation to Gix Internet for the two months period until February 28, 2022. For the operating results of Gix Internet, refer to note 4F. ** Includes equity loss of USD 1,360 thousand in relation to ScoutCam and equity loss of USD 615 thousand in relation to Paraziro. For the operating results of Scoutcam and Paraziro, refer to note 4C and 4M. The table set forth other information of the Group: December 31, 2021 Corporate E-commerce Online Event Management Others Adjustments and eliminations Total USD in thousands Total segments’ assets 33,695 7,412 9,357 * 11,692 ** (2,926 ) 59,730 Total segments’ liabilities (1,571 ) (6,159 ) (4,282 ) (399 ) 4,114 (8,297 ) * Includes an investment accounted for using the equity method of USD 4,867 thousand in relation to Gix Internet. For additional information in relation to assets and liabilities of Gix Internet refer to note 4F. ** Includes an investment accounted for using the equity method of USD 10,735 thousand in relation to ScoutCam. For additional information in relation to assets and liabilities of ScoutCam refer to note 4C. The table set forth the operating results of the Group: Year ended December 31, 2021 Corporate E-commerce Online Event Management Others Adjustments and eliminations Total USD in thousands External revenue 2,400 6,509 1,185 24 - 10,118 Segment results – operating income (loss) (2,271 ) (932 ) (3,229 )* (3,531 )** 68 (9,895 ) Non-operating income 2,509 - - 494 11,390 *** 14,393 Finance income (loss) 555 (629 ) (206 ) (15 ) (52 ) (347 ) Profit (Loss) before taxes on income 793 (1,561 ) (3,435 ) (3,052 ) 11,406 4,151 Tax benefit (expense) on income - 21 - - (126 ) (105 ) Segment results – profit (loss) 793 (1,540 ) (3,435 ) (3,052 ) 11,280 4,046 * Includes equity loss of USD 823 thousand in relation to Gix Internet. For the operating results of Gix Internet, refer to note 4F. ** Includes equity loss of USD 1,402 thousand in relation to ScoutCam. For the operating results of Scoutcam, refer to note 4C. *** Includes gain of USD 11,465 thousand upon loss of control in ScoutCam refer to note 4C. |
Entity Level Disclosures
Entity Level Disclosures | 12 Months Ended |
Dec. 31, 2022 | |
Entity Level [Abstract] | |
ENTITY LEVEL DISCLOSURES | NOTE 20 – ENTITY LEVEL DISCLOSURES: a. Revenues by geographical area (based on the location of customers): Year ended on 2022 2021 2020 USD in thousands USA 52,129 6,307 418 Europe 21,897 127 41 Israel 15,266 1,183 45 Asia 2,108 2,400 24 Other 458 101 3 91,858 10,118 531 b. All of the Group’s long-lived assets are located in Israel. c. Major customers Set forth below is a breakdown of Company’s revenue by major customers (major customer –revenues from these customers constitute at least 10% of total revenues in a certain year): Year ended on 2022 2021 2020 USD in thousands Customer A - - 383 Customer B - 2,400 24 Customer C 16,919 - - Customer D 16,468 - - |
Event Subsequent to December 31
Event Subsequent to December 31, 2022 | 12 Months Ended |
Dec. 31, 2022 | |
Event Subsequent [Abstract] | |
EVENT SUBSEQUENT TO DECEMBER 31, 2022 | NOTE 21 – EVENT SUBSEQUENT TO DECEMBER 31, 2022: 1. In February 2023 the Company and other lenders, signed a convertible loan agreement with Polyrizon Ltd.in the amount of USD 180 thousand, of which the company loan amounted to USD 80 thousand. The loan bears 4% annual interest rate. The loan will be automatically converted to shares in a case of issuance securities of a financing round of at least USD 500 thousand, in a discount of 20%. 2. On February 16, 2023, the Company made an investment in A.I Technologies of USD 81 thousand and holds 4.99% as of the filing date of these financial statements. 3. On January 26, 2023, Gix Internet acquired an additional 10% of Cortex, increasing its holdings to 80% of the share capital of Cortex on a fully diluted. The subsequent purchase was completed at a valuation of Cortex of approximately USD 27 million in exchange for consideration consisting of USD 2.6 million in cash. The subsequent purchase was financed by Gix Media’s existing cash balances and by a long-term bank loan received on January 17, 2023, in the amount of USD 1,500 thousand which will be repaid in 42 monthly payments at an annual interest rate of SOFR + 5.37%. 4. On March 21, 2023, ScoutCam Inc. completed a private placement to existing stockholders, of 3,294,117 units, at a purchase price of USD 4.25 per unit, with each unit consisting of one share of Scoutcam’s common stock and one three-year warrant to purchase one share of Scoutcam’s common stock at an exercise price of USD 5.50 per share. The private placement was led by existing investors Mori Arkin, the Phoenix Insurance Company Ltd and Shotfut Menayot Israel – Phoenix Amitim. Following the private placement, the company held 18.45% in ScoutCam. 5. On February 23, 2023, Jeffs’ Brands Ltd. and Jeffs’ Brands Holdings Inc., entered into a stock purchase agreement (the “Wellution Agreement”), with SciSparc Ltd. (“SciSparc”), pursuant which, on March 22, 2022, Jeffs’ Brands Holdings acquired from SciSparc 57 shares of common stock of SciSparc Nutraceuticals Inc. (“SciSparc Nutraceuticals”), a wholly-owned subsidiary of SciSparc that owns and operates Wellution , a top-selling Amazon food supplements and cosmetics brand, representing approximately 49% of the issued and outstanding common stock of SciSparc Nutraceuticals, for approximately USD 2.5 million in cash (the “Wellution Transaction”). On March 22, 2023, Jeffs’ Brands Ltd., Jeffs’ Brands Holdings and SciSparc entered into Addendum No. 1 to the Wellution Agreement, or the Addendum, to provide for an additional amount of USD 489 thousand, representing adjustments related to inventory and working capital, to be paid to SciSparc in five equal installments of USD 98 thousand on the tenth day of each consecutive calendar month, beginning in May 2023. Also pursuant to the SciSparc SPA, in connection with the closing of the SciSparc Nutraceuticals Joint Venture, on March 22, 2023, Jeffs’ Brands entered into a consulting agreement with SciSparc Nutraceuticals (the “SciSparc Consulting Agreement”), pursuant to which Jeffs’ Brands will provide management services to SciSparc Nutraceuticals for the WellutionTM brand for a monthly fee of USD 20 thousand and Jeffs; Brands received a one-time signing bonus in the amount of USD 51 thousand. The SciSparc Consulting Agreement is for an undefined period of time and may be terminated by either party with 30 days advance notice. Also pursuant to the Wellution Agreement, in connection with the closing of the Wellution Transaction, on March 22, 2023, Jeffs’ Brands issued 247,415 of its Ordinary Shares to SciSparc and SciSparc issued 360,297 of its Ordinary Shares to Jeffs’ Brands in a share exchange (collectively, the “Exchange Shares”), representing 2.97% and 4.99%, respectively, of Jeffs’ Brands’ and SciSparc’s issued and outstanding ordinary shares. The number of Exchange Shares acquired by each company was calculated by dividing USD 288,238 by the average closing price of the relevant company’s shares on the Nasdaq Capital Market for the 30 consecutive trading days ending on the third trading day immediately prior to the closing. 6. On March 2, 2023, Jeffs’ Brands entered into a share purchase agreement (the “Fort SPA”), with the holders (the “Sellers”), of all of the issued and outstanding share capital of Fort, a company incorporated under the laws of England and Wales and engaged in the sale of pest control products primarily through Amazon.uk, pursuant to which on March 9, 2023, Jeffs’ Brands acquired all of the issued and outstanding share capital of Fort, for approximately £2,000 thousand (approximately USD 2,400 thousand) in cash (the “Fort Acquisition”). The Fort SPA provides that for a period of three years from closing, the Sellers will not compete with Fort’s business. Also, in connection with the Fort Acquisition, on March 9th, 2023, Jeffs’ Brands and Fort entered into settlement agreements with all of Fort’s employees, including the Sellers, by which such employees’ employment with Fort will terminate three months following March 9, 2023 and certain other customary conditions. During this three-month period, Jeffs’ Brands intends to carry out operational changes in Fort’s business that will allow Fort to wind down the activities conducted in its leased warehouse and to move all such operations to warehouses operated by Amazon. In connection with the closing of the acquisition, on March 9th, 2023, Jeffs’ Brands and the Sellers entered into a consulting agreement, pursuant to which the Sellers will provide Jeffs’ Brands with consultancy services for a period of three months, in consideration for a monthly fee of £2,500 (approximately USD 3 thousand). 7. On March 16, 2023, the Company signed an amendment to the option sale agreement by and between the Company and Buffalo Investment Ltd. (“Buffalo”) dated as of December 7, 2021 (the “Amendment” and the “Buffalo Agreement”), according to which Buffalo and Pure Capital Ltd. shall transfer to the Company shares of Hydreight Technologies Inc., Viewbix Inc., SciSparc Ltd. (“SciSparc”), ClearMind Medicine Inc. and Colugo Systems Ltd., instead of a transfer of 135,000 shares of SciSparc worth USD 817 thousand which was originally agreed under the Buffalo Agreement. The aggregated value of the shares transferred under the Amendment is USD 937 thousand reflecting USD 817 thousand plus compensation worth of USD 130 thousand. 8. On March 28, 2023, the company signed a security exchange agreement with Fuel Doctor to sell all its shares in its wholly owned subsidiary, Charging Robotics to Fuel Doctor. As part of the exchange agreement, Fuel Doctor will acquire all of the issued and outstanding shares of Charging Robotics, on a fully diluted basis and as a result Charging Robotics will become a wholly owned subsidiary of Fuel Doctor. In exchange for all of its shares in Charging Robotics, the company received such number of newly issues shares of Fuel Doctor’s common stock equal to 60% of the total number of shares of Fuel Doctor’s common stock issued and outstanding as of the closing on a fully diluted basis. Subject to several pre-determined milestones, the company might increase its holding in Fuel Doctor up to 71%. 9 On April 13, 2022, the Company acquired 19.9% of Metagramm Software Ltd. (“Metagramm”), an innovative AI, machine learning (ML) communication and grammar assistant software. In return, The Company paid Metagramm USD 250 thousand in Company’s common shares. In addition, the Company will extend Metagramm a loan in the amount of USD 250 thousand in three instalments, the first instalment of which will be granted at closing. The loan will be repaid from Metagramm’s existing and future profits and is secured by the shares of all other current Metagramm shareholders. 10 During February and March 2023, Cortex distributed dividends in an aggregated amount of approximately USD 1,039 thousand (approximately NIS 3.03 million) to non-controlling interest. In addition, Gix Media distributed a dividend in an aggregated amount of approximately USD 130 thousand (approximately NIS 432 thousand). |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of accounting | A. Basis of accounting The financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The financial statements have been prepared on the historical cost basis, except for the revaluation of certain financial instruments that are measured at revalued amounts or fair values at the end of each reporting period, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for goods and services. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the Group takes into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. Fair value for measurement and/or disclosure purposes in these consolidated financial statements is determined on such a basis, except for share-based payment transactions that are within the scope of IFRS 2, leasing transactions that are within the scope of IFRS 16, and measurements that have some similarities to fair value but are not fair value, such as net realizable value in IAS 2 Inventories Impairment of Assets The consolidated financial statements were authorized for issuance by the Board of Directors on May 3, 2023. The significant accounting policies set out below have been consistently applied to in the preparation of these consolidated financial statements for all years presented, unless otherwise stated. |
Basis of consolidation | B. Basis of consolidation The consolidated financial statements incorporate the financial statements of the Company and entities controlled by the Company (its subsidiaries) made up to 31 December each year. Control is achieved when the Company: ● Has the power over the investee. ● Is exposed, or has rights, to variable returns from its involvement with the investee. ● Has the ability to use its power to affect its returns. The Company reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. When the Company has less than a majority of the voting rights of an investee, it considers that it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The Company considers all relevant facts and circumstances in assessing whether or not the Company’s voting rights in an investee are sufficient to give it power, including: ● The size of the Company’s holding of voting rights relative to the size and dispersion of holdings of the other vote holders. ● Potential voting rights held by the Company, other vote holders or other parties. ● Rights arising from other contractual arrangements. ● Any additional facts and circumstances that indicate that the Company has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders’ meetings. Consolidation of a subsidiary begins when the Company obtains control over the subsidiary and ceases when the Company loses control of the subsidiary. Specifically, the results of subsidiaries acquired or disposed of during the year are included in the consolidated statements of income/loss and other comprehensive income/loss from the date the Company gains control until the date when the Company ceases to control the subsidiary. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with the Group’s accounting policies. All intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between the members of the Group are eliminated on consolidation. Non-controlling interests in subsidiaries are identified separately from the Group’s equity therein. Those interests of non-controlling shareholders that are present ownership interests entitling their holders to a proportionate share of net assets upon liquidation may initially be measured at fair value or at the non-controlling interests’ proportionate share of the fair value of the acquiree’s identifiable net assets. The choice of measurement is made on an acquisition-by-acquisition basis. Other non-controlling interests are initially measured at fair value. Subsequent to acquisition, the carrying amount of non-controlling interests is the amount of those interests at initial recognition plus the non-controlling interests’ share of subsequent changes in equity. Profit or loss and each component of other comprehensive income are attributed to the owners of the Company and to the non-controlling interests. Total comprehensive income of the subsidiaries is attributed to the owners of the Company and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance. Changes in the Group’s interests in subsidiaries that do not result in a loss of control are accounted for as equity transactions. The carrying amount of the Group’s interests and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiaries. Any difference between the amount by which the noncontrolling interests are adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the Company. When the Group loses control of a subsidiary, the gain or loss on disposal recognized in profit or loss is calculated as the difference between (i) the aggregate of the fair value of the consideration received and the fair value of any retained interest and (ii) the previous carrying amount of the assets (including goodwill), less liabilities of the subsidiary and any non-controlling interests. All amounts previously recognized in other comprehensive income in relation to that subsidiary are accounted for as if the Group had directly disposed of the related assets or liabilities of the subsidiary (i.e., reclassified to profit or loss or transferred to another category of equity as required/permitted by applicable IFRS Accounting Standards). The fair value of any investment retained in the former subsidiary at the date when control is lost is regarded as the fair value on initial recognition for subsequent accounting under IFRS 9 Financial Instruments |
Business combinations | C. Business combinations Acquisitions of businesses are accounted for using the acquisition method. The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the acquisition-date fair values of assets transferred by the Group, liabilities incurred by the Group to the former owners of the acquiree and the equity interest issued by the Group in exchange for control of the acquiree. Acquisition-related costs are recognized in profit or loss as incurred. At the acquisition date, the identifiable assets acquired and the liabilities assumed are recognized at their fair value at the acquisition date, except that: ● Deferred tax assets or liabilities and assets or liabilities related to employee benefit arrangements are recognized and measured in accordance with IAS 12 Income Taxes Employee Benefits ● Liabilities or equity instruments related to share-based payment arrangements of the acquiree or share-based payment arrangements of the Group entered into to replace share-based payment arrangements of the acquiree are measured in accordance with IFRS 2 at the acquisition date (see below) ● Assets (or disposal groups) that are classified as held for sale in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the net of the acquisition-date amounts of the identifiable assets acquired and liabilities assumed exceeds the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree and the fair value of the acquirer’s previously held interest in the acquiree (if any), the excess is recognized immediately in profit or loss as a bargain purchase gain. A contingent consideration incurred in a business combination is included as part of the acquisition price and recorded at a probability weighted assessment of the fair value as of the acquisition date. The fair value of the contingent consideration is re-measured at each reporting period, with any adjustments in fair value recognized in earnings under general and administrative expenses. When the consideration transferred by the Group in a business combination includes a contingent consideration arrangement, the contingent consideration is measured at its acquisition-date fair value and included as part of the consideration transferred in a business combination. Changes in fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retrospectively, with corresponding adjustments against goodwill. Measurement period adjustments are adjustments that arise from additional information obtained during the ‘measurement period’ (which cannot exceed one year from the acquisition date) about facts and circumstances that existed at the acquisition date. The subsequent accounting for changes in the fair value of the contingent consideration that do not qualify as measurement period adjustments depends on how the contingent consideration is classified. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and its subsequent settlement is accounted for within equity. Other contingent consideration is remeasured to fair value at subsequent reporting dates with changes in fair value recognized in profit or loss. |
Goodwill | D. Goodwill Goodwill is initially recognized and measured as set out above. Goodwill is not amortized but is reviewed for impairment at least annually. For the purpose of impairment testing, goodwill is allocated to each of the Group’s cash-generating units (or groups of cash-generating units) expected to benefit from the synergies of the combination. Cash-generating units to which goodwill has been allocated are tested for impairment annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. An impairment loss recognized for goodwill is not reversed in a subsequent period. On disposal of a cash-generating unit, the attributable amount of goodwill is included in the determination of the profit or loss on disposal. The Group’s policy for goodwill arising on the acquisition of an associate is described below. |
Investments in associates | E. Investments in associates An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee. The Group is presumed to have significant influence when it holds 20 percent or more of the voting rights of an investee, unless it can be clearly demonstrated that this is not the case. The Group does not control its associates. The results and assets and liabilities of associates are incorporated in these financial statements using the equity method of accounting, except when the investment is classified as held for sale, in which case it is accounted for in accordance with IFRS 5. Under the equity method, an investment in an associate is recognized initially in the consolidated statements of financial position at cost and adjusted thereafter to recognize the Group’s share of the profit or loss and other comprehensive income of the associate. Dividends received or receivable from associates are recognized as a reduction in the carrying amount of the investment. When the Group’s share of losses of an associate or exceeds the Group’s interest in that associate (which includes any long-term interests that, in substance, form part of the Group’s net investment in the associate), the Group discontinues recognizing its share of further losses. Additional losses are recognized only to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the associate. An investment in an associate is accounted for using the equity method from the date on which the investee becomes an associate. On acquisition of the investment in an associate, any excess of the cost of the investment over the Group’s share of the net fair value of the identifiable assets and liabilities of the investee is recognized as goodwill, which is included within the carrying amount of the investment. Any excess of the Group’s share of the net fair value of the identifiable assets and liabilities over the cost of the investment, after reassessment, is recognized immediately in profit or loss in the period in which the investment is acquired. If there is objective evidence that the Group’s net investment in an associate is impaired, the requirements of IAS 36 are applied to determine whether it is necessary to recognize any impairment loss with respect to the Group’s investment. When necessary, the entire carrying amount of the investment (including goodwill) is tested for impairment in accordance with IAS 36 as a single asset by comparing its recoverable amount (higher of value in use and fair value less costs of disposal) with its carrying amount. Any impairment loss recognized is not allocated to any asset, including goodwill that forms part of the carrying amount of the investment. Any reversal of that impairment loss is recognized in accordance with IAS 36 to the extent that the recoverable amount of the investment subsequently increases. The Group discontinues the use of the equity method from the date when the investment ceases to be an associate. When the Group retains an interest in the former associate and the retained interest is a financial asset, the Group measures the retained interest at fair value at that date and the fair value is regarded as its fair value on initial recognition in accordance with IFRS 9. The difference between the carrying amount of the associate at the date the equity method was discontinued, and the fair value of any retained interest and any proceeds from disposing of a part interest in the associate is included in the determination of the gain or loss on disposal of the associate. In addition, the Group accounts for all amounts previously recognized in other comprehensive income in relation to that associate on the same basis as would be required if that associate had directly disposed of the related assets or liabilities. Therefore, if a gain or loss previously recognized in other comprehensive income by that associate would be reclassified to profit or loss on the disposal of the related assets or liabilities, the Group reclassifies the gain or loss from equity to profit or loss (as a reclassification adjustment) when the associate is disposed of. When the Group reduces its ownership interest in an associate but the Group continues to use the equity method, the Group reclassifies to profit or loss the proportion of the gain or loss that had previously been recognized in other comprehensive income relating to that reduction in ownership interest if that gain or loss would be reclassified to profit or loss on the disposal of the related assets or liabilities. When a Group entity transacts with an associate of the Group, profits and losses resulting from the transactions with the associate are recognized in the Group’s consolidated financial statements only to the extent of interests in the associate that are not related to the Group. |
Foreign currencies | F. Foreign currencies The functional currency and the presentation currency The reporting and functional currency of the Company and each of its subsidiaries, GERD IP, Charging Robotics and Jeffs’ Brands is USD while Eventer and Gix Internet is NIS. The consolidated financial statements are presented in USD and rounded to the nearest thousand. The consolidation of Gix Internet’s and Eventer’s financial statements is accounted for as a foreign operation using IAS 21, the Effects of Changes in Foreign Exchange Rates. Transactions and balances In preparing the financial statements of the Group entities, transactions in currencies other than the entity’s functional currency (“Foreign Currencies”) are recognized at the rates of exchange prevailing on the dates of the transactions. At each reporting date, monetary assets and liabilities that are denominated in Foreign Currencies are retranslated at the rates prevailing at that date. Non-monetary items carried at fair value that are denominated in Foreign Currencies are translated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Exchange differences are recognized in profit or loss in the period in which they arise. Foreign Operations For the purpose of presenting consolidated financial statements, the assets and liabilities of the Group’s foreign operations are translated at exchange rates prevailing on the reporting date. Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the date of transactions are used. Exchange differences arising, if any, are recognized in other comprehensive income and accumulated in a foreign exchange translation reserve (attributed to non-controlling interests as appropriate). On the disposal of a foreign operation (i.e. a disposal of the Group’s entire interest in a foreign operation, or a disposal involving loss of control over a subsidiary that includes a foreign operation or a partial disposal of an interest in an associate that includes a foreign operation of which the retained interest becomes a financial asset), all of the exchange differences accumulated in a foreign exchange translation reserve in respect of that operation attributable to the owners of the Company are reclassified to profit or loss. In addition, in relation to a partial disposal of a subsidiary that includes a foreign operation that does not result in the Group losing control over the subsidiary, the proportionate share of accumulated exchange differences is re-attributed to non-controlling interests and are not recognized in profit or loss. For all other partial disposals (i.e., partial disposals of associates that do not result in the Group losing significant influence), the proportionate share of the accumulated exchange differences is reclassified to profit or loss. Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate. Exchange differences arising are recognized in other comprehensive income. |
Property and equipment | G. Property and equipment Property and equipment are initially recognized at purchased cost. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of replaced items is derecognized. All other repairs and maintenance are charged to profit or loss during the financial period in which they are incurred. Property and equipment are measured at cost less accumulated depreciation and accumulated impairment loss. Depreciation is calculated using the straight-line method over the estimated useful life of the asset as follows: Machinery and equipment 6 – 10 years (primarily 10) Leasehold improvements and furniture 7 – 14 years Computers and programs 3 years Leasehold improvements are depreciated using the straight-line method over the shorter of the term of the lease or the estimated useful lives of the assets. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. An item of property and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. The gain or loss arising on the disposal or retirement of an asset is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognized in profit or loss. |
Financial instruments | H. Financial instruments Financial assets and financial liabilities are recognized in the Group’s consolidated statements of financial position when the Group becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value, except for trade receivables that do not have a significant financing component which are measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss. Financial assets Classification The Group classifies its financial assets in the following measurement categories: ● those to be measured subsequently at fair value through profit or loss, and ● those to be measured at amortized cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will be recorded in profit or loss. Recognition Regular way purchases and sales of financial assets are recognized on trade date, being the date on which the Group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. Measurement At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (“FVTPL”), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVTPL are expensed in profit or loss. Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest. Debt instruments Subsequent measurement of investments in debt instruments depends on the Group’s business model for managing the asset and the cash flow characteristics of the asset. There are two measurement categories into which the Group classifies its investments in debt instruments: ● Amortized cost: Financial assets are measured at amortized cost if both of the following conditions are met: - the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and - the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognized directly in profit or loss and presented in other gains/(losses) together with foreign exchange gains and losses. ● Fair value through profit or loss: A gain or loss on a debt investment that is subsequently measured at FVTPL is recognized in profit or loss and presented net within other gains/(losses) in the period in which it arises. Equity instruments The Group subsequently measures investments in equity instruments at fair value through profit or loss except when the Group has control or significant influence. Dividends from such investments continue to be recognized in profit or loss as other income when the Group’s right to receive payments is established. Changes in the fair value of financial assets at FVTPL are recognized in “net change in fair value of financial assets at fair value through profit or loss” in the Consolidated statements of loss and other comprehensive loss, as applicable. Impairment of financial assets The Group recognizes a loss allowance for expected credit losses on financial assets at amortized cost. At each reporting date, the Group assesses whether the credit risk on a financial instrument has increased significantly since initial recognition. If the financial instrument is determined to have a low credit risk at the reporting date, the Company assumes that the credit risk on a financial instrument has not increased significantly since initial recognition. The Group measures the loss allowance for expected credit losses on trade receivables and on financial instruments for which the credit risk has increased significantly since initial recognition based on lifetime expected credit losses based on information available on their credit condition, current aging, historical experience, future economic and market conditions. The Group has determined that the estimates of current and expected credit losses are immaterial. Derecognition of financial assets The Group derecognizes a financial asset only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the Group neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Group recognizes its retained interest in the asset and an associated liability for amounts it may have to pay. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received. On derecognition of a financial asset measured at amortized cost, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss. Financial liabilities and equity Classification as debt or equity Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. Equity instruments An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Group are recognized at the proceeds received, net of direct issue costs. Repurchase of the Company’s own equity instruments is recognized and deducted directly in equity. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Company’s own equity instruments. Compound instruments The component parts of convertible loan notes issued by the Group are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. A conversion option that will be settled by the exchange of a fixed amount of cash or another financial asset for a fixed number of the Company’s own equity instruments is an equity instrument. At the date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. This amount is recorded as a liability on an amortized cost basis using the effective interest method until extinguished upon conversion or at the instrument’s maturity date. The conversion option classified as equity is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognized and included in equity, net of income tax effects, and is not subsequently remeasured. In addition, the conversion option classified as equity will remain in equity until the conversion option is exercised, in which case the balance recognized in equity will be transferred to share premium. Where the conversion option remains unexercised at the maturity date of the convertible loan note, the balance recognized in equity will be transferred to retained earnings. No gain or loss is recognized in profit or loss upon conversion or expiration of the conversion option. Transaction costs that relate to the issue of the convertible loan notes are allocated to the liability and equity components in proportion to the allocation of the gross proceeds. Transaction costs relating to the equity component are recognized directly in equity. Transaction costs relating to the liability component are included in the carrying amount of the liability component and are amortized over the lives of the convertible loan notes using the effective interest method. Financial liabilities Financial liabilities are initially recognized at their fair value minus, in the case of a financial liability not at fair value through profit or loss, transaction costs that are directly attributable to the issue of the financial liability. Financial liabilities are subsequently measured at amortized cost using the effective interest method, except for derivative financial instruments, which are subsequently measured at fair value through profit or loss (FVTPL). The Group has early adopted the narrow-scope amendment to IAS 1. Accordingly, financial liabilities are classified as non-current if the Group has a substantive right to defer settlement for at least 12 months at the end of the reporting period, otherwise, they are classified as current liabilities. The Group’s financial liabilities at amortized cost are included in accounts payable, accrued expenses, other current liabilities, payable in respect of the intangible asset and lease liabilities. The derivative financial instruments represent warrants that confer the right to net share settlement. The Group derecognizes a financial liability (or a part of a financial liability) when, and only when, it is extinguished (when the obligation specified in the contract is discharged, cancelled or expired). Derecognition of financial liabilities The Group derecognizes financial liabilities when, and only when, the Group’s obligations are discharged, cancelled or have expired. The difference between the carrying amount of the financial liability derecognized and the consideration paid and payable is recognized in profit or loss. When the Group exchanges with the existing lender one debt instrument into another one with substantially different terms, such exchange is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. Similarly, the Group accounts for substantial modification of terms of an existing liability or part of it as an extinguishment of the original financial liability and the recognition of a new liability. It is assumed that the terms are substantially different if the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received and discounted using the original effective interest rate is at least 10 per cent different from the discounted present value of the remaining cash flows of the original financial liability. If the modification is not substantial, the difference between: (1) the carrying amount of the liability before the modification; and (2) the present value of the cash flows after modification is recognized in profit or loss as the modification gain or loss within other gains and losses. |
Inventory | I. Inventory Inventories are stated at the lower of cost and net realizable value. Cost comprises direct materials and, where applicable, direct labor costs and those overheads that have been incurred in bringing the inventories to their present location and condition. Cost is calculated using the weighted average cost method. Net realizable value represents the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. The Group periodically evaluates the condition and age of inventories and makes provisions for slow moving inventories accordingly. |
Cash and cash equivalents | J. Cash and cash equivalents In the statement of financial position, cash and bank balances comprise cash (i.e., cash on hand and demand deposits) and cash equivalents. Cash equivalents are short-term (generally with original maturity of three months or less), highly liquid investments that are readily convertible to a known amount of cash and which are subject to an insignificant risk of changes in value. Cash equivalents are held for the purpose of meeting short-term cash commitments rather for investment or other purposes. For the purposes of the statement of cash flows, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts which are repayable on demand and form an integral part of the Group’s cash management. Such overdrafts are presented as short-term borrowings in the statement of financial position. |
Taxation | K. Taxation The income tax expense represents the sum of the tax currently payable and deferred tax. Current Tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in profit or loss because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. A provision is recognized for those matters for which the tax determination is uncertain, but it is considered probable that there will be a future outflow of funds to a tax authority. The provisions are measured at the best estimate of the amount expected to become payable. The assessment is based on the judgement of tax professionals within the Company supported by previous experience in respect of such activities and in certain cases based on specialist independent tax advice. Deferred Tax Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit and is accounted for using the liability method. Deferred tax liabilities are generally recognized for all taxable temporary differences and are recognized to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilized. Such assets and liabilities are not recognized if the temporary difference arises from the initial recognition (other than in a business combination) of other assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit. In addition, a deferred tax liability is not recognized if the temporary difference arises from the initial recognition of goodwill. Deferred tax liabilities are recognized for taxable temporary differences arising on investments in subsidiaries and associates, except where the Group is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments are only recognized to the extent that it is probable that there will be sufficient taxable profits against which to utilize the benefits of the temporary differences and they are expected to reverse in the foreseeable future. No deferred tax assets have been recorded in the Group’s books and records with respect to accumulated losses since it is not probable that the Group will be able to utilize such losses in the foreseeable future against taxable income. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled, or the asset is realized based on tax laws and rates that have been enacted or substantively enacted at the reporting date. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Group expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Group intends to settle its current tax assets and liabilities on a net basis. Current tax and deferred tax for the year Current and deferred tax are recognized in profit or loss, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case the current and deferred tax are also recognized in other comprehensive income or directly in equity respectively. Where current tax or deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination. |
Short-term and other long-term employee benefits | L. Short-term and other long-term employee benefits Pension and severance pay obligations Israeli labor law generally requires payment of severance pay upon dismissal of an employee or upon termination of employment in certain other circumstances. Pursuant to Section 14 of the Severance Compensation Act, 1963 (“Section 14”), all of the Company’s employees in Israel are entitled a monthly contribution, at a rate of 8.33% of their monthly salary, made in their name with insurance companies. Contributions under Section 14 relieve the Company from any future severance payment obligation with respect to those employees. The aforementioned contributions are not recorded as an asset on the Company’s consolidated statements of financial position, and there is no liability recorded as the Company does not have a future obligation to make any additional payments. The asset and the liability for severance pay presented in the consolidated statements of financial position reflects employees that began employment prior to automatic application of Section 14. The severance pay liability of the Company to its employees that began employment prior to automatic application of Section 14 based upon the number of years of service and the latest monthly salary and is partly covered by regular deposits with recognized pension funds and deposits with severance pay funds. Under labor laws, these deposits are in the employees’ names and, subject to certain limitations, are the property of the employees. The Company records the obligation as if it were payable at each statement of financial position date on an undiscounted basis. Vacation and recreation pay Under the Israeli law, each employee is legally entitled to vacation and recreation benefits. The entitlement is based on term of employment. The Group records such obligations as incurred. Bonus plans The Group record bonus obligation when a contractual or constructive obligation exists. Such bonus obligation is record in the amount expected to be paid, to the extent that the Group can reliably estimate the amount expected to be paid. |
Provisions | M. Provisions Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that the Group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material). |
Share-based payments | N. Share-based payments Equity-settled share-based payments to employees and others providing similar services are measured at the fair value of the equity instruments at the grant date. The fair value excludes the effect of non-market-based vesting conditions. Details regarding the determination of the fair value of equity-settled share-based transactions are set out in note 14. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Group’s estimate of the number of equity instruments that will eventually vest. At each reporting date, the Group revises its estimate of the number of equity instruments expected to vest as a result of the effect of non-market-based vesting conditions. The impact of the revision of the original estimates, if any, is recognized in profit or loss such that the cumulative expense reflects the revised estimate, with a corresponding adjustment to reserves. Equity-settled share-based payment transactions with parties other than employees are measured at the fair value of the goods or services received, except where that fair value cannot be estimated reliably, in which case they are measured at the fair value of the equity instruments granted, measured at the date the entity obtains the goods or the counterparty renders the service. |
Revenue recognition | O. Revenue recognition The Group recognizes revenue from the following major sources: ● Product revenue ● Service revenue Revenue is measured based on the consideration to which the Group expects to be entitled in a contract with a customer and excludes amounts collected on behalf of third parties. The Group recognizes revenue when it transfers control of a product or service to a customer. Product Revenue Revenues from product sales of Jeffs’ Brands, conducted directly to customers through Jeffs’ Brands own online Amazon stores. For sales of goods to retail customers, revenue is recognized when control of the goods has transferred to the customer, being at the point the goods are delivered to the customer. Payment of the transaction price is due immediately at the point the customer purchases the goods. Under Jeffs’ Brands standard contract terms, customers have a right of return within 30 until 90 days. Jeffs’ Brands uses its accumulated historical experience to estimate the number of returns on a portfolio level using the expected value method. It is considered highly probable that a significant reversal in the cumulative revenue recognized will not occur given the consistent level of returns over previous years. Service Revenue through Gix Internet Gix Internet generates revenues from obtaining internet user traffic and routing such traffic to its customers. Gix Internet is entitled to receive consideration for its service upon each individual internet user traffic routed to and monetized by its customers. Gix Internet’s revenues are measured and recognized according to the fair value of the consideration expected to be received in accordance with the terms of the contract, less the amounts collected for the benefit of third parties (such as taxes). Revenues from the search sector and the digital content sector in which Gix Internet operates as the main supplier are presented on a gross basis. Revenues from the search sector and the digital content sector are recognized immediately upon the provision of the service. Service Revenues through Eventer The Group provides through the subsidiary Eventer services for using the event production platform in exchange for a commission from the sale of tickets for events. These services constitute a performance obligation that is fulfilled at one point in time and therefore the Group recognizes revenues at the time of the event. The essence of the Group’s promise to the customer is to arrange for the consideration for the tickets to be provided by another party, therefore the Group’s revenues from these transactions are presented on a net basis. |
Leases | P. Leases The Group assesses whether a contract is or contains a lease, at inception of the contract. The Group recognizes a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets (such as tablets and personal computers, small items of office furniture and telephones). For these leases, the Group recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Group uses its incremental borrowing rate. The incremental borrowing rate depends on the term, currency and start date of the lease and is determined based on a series of inputs including: the risk-free rate based on government bond rates; a country-specific risk adjustment; a credit risk adjustment based on bond yields; and an entity-specific adjustment when the risk profile of the entity that enters into the lease is different to that of the Group and the lease does not benefit from a guarantee from the Group. Lease payments included in the measurement of the lease liability comprise: ● Fixed lease payments (including in-substance fixed payments), less any lease incentives receivable ● Variable lease payments that depend on an index or rate, initially measured using the index or rate at the commencement date ● The amount expected to be payable by the lessee under residual value guarantees ● The exercise price of purchase options, if the lessee is reasonably certain to exercise the options ● Payments of penalties for terminating the lease, if the lease term reflects the exercise of an option to terminate the lease The lease liability is presented as a separate line in the consolidated statement of financial position. The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made. The Group remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever: ● The lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate ● The lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which cases the lease liability is remeasured by discounting the revised lease payments using an unchanged discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used) ● A lease contract is modified, and the lease modification is not accounted for as a separate lease, in which case the lease liability is remeasured based on the lease term of the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification The Group did not make any such adjustments during the periods presented. The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day, less any lease incentives received and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses. Right-of-use assets are depreciated over the shorter period of lease term and useful life of the right-of-use asset. The depreciation starts at the commencement date of the lease. The right-of-use assets are presented as a separate line in the consolidated statement of financial position. The Group applies IAS 36 to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss as described in the ‘Property and Equipment’ policy. As a practical expedient, IFRS 16 permits a lessee not to separate non-lease components, and instead account for any lease and associated non-lease components as a single arrangement. The Group has not used this practical expedient. For contracts that contain a lease component and one or more additional lease or non-lease components, the Group allocates the consideration in the contract to each lease component on the basis of the relative stand-alone price of the lease component and the aggregate stand-alone price of the non-lease components. |
Loss (Earning) per share | Q. Loss (Earning) per share Loss (Earning) per share is based on the loss (earning) that is attributed to the shareholders holding ordinary shares, divided by the weighted average number of ordinary shares in issue during the period. For purposes of the calculation of the diluted loss (earning) per share, the Company adjusts the loss (earning) that is attributed to the holders of the Company’s ordinary shares, and the weighted average number of ordinary shares in issue, to assume conversion of all of the dilutive potential shares. The potential shares are taken into account only if their effect is dilutive (increases loss/ decrease earning per share). |
Intangible assets | R. Intangible assets Intangible assets acquired separately Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated amortization and accumulated impairment losses. Amortization is recognized on a straight-line basis over their estimated useful lives. The estimated useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives that are acquired separately are carried at cost less accumulated impairment losses. Internally generated intangible assets - research and development expenditure Expenditure on research activities is recognized as an expense in the period in which it is incurred. An internally generated intangible asset arising from development (or from the development phase of an internal project) is recognized if, and only if, all of the following conditions have been demonstrated: ● The technical feasibility of completing the intangible asset so that it will be available for use or sale ● The intention to complete the intangible asset and use or sell it ● The ability to use or sell the intangible asset ● How the intangible asset will generate probable future economic benefits ● The availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset ● The ability to measure reliably the expenditure attributable to the intangible asset during its development The amount initially recognized for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally generated intangible asset can be recognized, development expenditure is recognized in profit or loss in the period in which it is incurred. Internally generated intangible assets - research and development expenditure Subsequent to initial recognition, internally generated intangible assets are reported at cost less accumulated amortization and accumulated impairment losses, on the same basis as intangible assets that are acquired separately. Intangible assets acquired in a business combination Intangible assets acquired in a business combination and recognized separately from goodwill are recognized initially at their fair value at the acquisition date (which is regarded as their cost). Subsequent to initial recognition, intangible assets acquired in a business combination are reported at cost less accumulated amortization and accumulated impairment losses, on the same basis as intangible assets that are acquired separately. Derecognition of intangible assets An intangible asset is derecognized on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, and are recognized in the consolidated statements of income/loss and other comprehensive income/loss as profit/loss when the asset is derecognized. At each reporting date, the Company reviews the carrying amounts of its intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of the impairment loss (if any). Where the asset does not generate cash flows that are independent from other assets, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified. Intangible assets with an indefinite useful life are tested for impairment at least annually and whenever there is an indication at the end of a reporting period that the asset may be impaired. Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognized immediately in the consolidated statements of income/loss and other comprehensive income/loss as profit/loss. |
Impairment of property and equipment and intangible assets excluding goodwill | S. Impairment of property and equipment and intangible assets excluding goodwill At each reporting date, the Group reviews the carrying amounts of its property and equipment and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of the impairment loss (if any). Where the asset does not generate cash flows that are independent from other assets, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified. Intangible assets with an indefinite useful life are tested for impairment at least annually and whenever there is an indication at the end of a reporting period that the asset may be impaired. Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognized immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease and to the extent that the impairment loss is greater than the related revaluation surplus, the excess impairment loss is recognized in profit or loss. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in profit or loss to the extent that it eliminates the impairment loss which has been recognized for the asset in prior years. Any increase in excess of this amount is treated as a revaluation increase. |
Segments | T. Segments The Group reports financial and descriptive information about its reportable segments. Reportable segments are operating segments or aggregations of operating segments that meet specified criteria as defined in IFRS 8, Operating Segments. Operating segments are distinguishable components of an entity for each of which a separate financial information is available and is reported in a manner consistent with the internal reporting provided to the entity’s Chief Operating Decision Maker (“CODM”) in making decisions about how to allocate resources and in assessing performance. When the Group is committed to a sale plan involving disposal of an investment in an associate or, a portion of an investment in an associate, the investment, or the portion of the investment in the associate that will be disposed of is classified as held for sale when the criteria described above are met. The Group then ceases to apply the equity method in relation to the portion that is classified a held for sale. Any retained portion of an investment in an associate that has not been classified as held for sale continues to be accounted for using the equity method. |
Deferred offering costs | U. Deferred offering costs The Group capitalizes certain legal and other third-party fees that are directly related to the Group’s in-process equity financing until such financing is consummated. After the consummation of such equity financing, these costs are recorded as a reduction of the respective gross proceeds. Should a planned equity financing be abandoned, terminated, or significantly delayed, the deferred offering costs are written off to operating expenses. |
New and revised IFRS Accounting Standards in issue but not yet effective | V. New and revised IFRS Accounting Standards in issue but not yet effective Amendments to IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures - Sale or Contribution of Assets between an Investor and its Associate or Joint Venture The amendments to IFRS 10 and IAS 28 deal with situations where there is a sale or contribution of assets between an investor and its associate or joint venture. Specifically, the amendments state that gains or losses resulting from the loss of control of a subsidiary that does not contain a business in a transaction with an associate or a joint venture that is accounted for using the equity method, are recognized in the parent’s profit or loss only to the extent of the unrelated investors’ interests in that associate or joint venture. Similarly, gains and losses resulting from the remeasurement of investments retained in any former subsidiary (that has become an associate or a joint venture that is accounted for using the equity method) to fair value are recognized in the former parent’s profit or loss only to the extent of the unrelated investors’ interests in the new associate or joint venture. The effective date of the amendments has yet to be set by the IASB; however, earlier application of the amendments is permitted. The directors of the Company anticipate that the application of these amendments may have an impact on the Group’s consolidated financial statements in future periods should such transactions arise. Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements - Disclosure of Accounting Policies The amendments change the requirements in IAS 1 with regard to disclosure of accounting policies. The amendments replace all instances of the term ‘significant accounting policies’ with ‘material accounting policy information’. Accounting policy information is material if, when considered together with other information included in an entity’s financial statements, it can reasonably be expected to influence decisions that the primary users of general-purpose financial statements make on the basis of those financial statements. The supporting paragraphs in IAS 1 are also amended to clarify that accounting policy information that relates to immaterial transactions, other events or conditions is immaterial and need not be disclosed. Accounting policy information may be material because of the nature of the related transactions, other events or conditions, even if the amounts are immaterial. However, not all accounting policy information relating to material transactions, other events or conditions is itself material. The IASB has also developed guidance and examples to explain and demonstrate the application of the ‘four-step materiality process’ described in IFRS Practice Statement 2. The amendments to IAS 1 are effective for annual periods beginning on or after 1 January 2023, with earlier application permitted and are applied prospectively. The amendments to IFRS Practice Statement 2 do not contain an effective date or transition requirements. Amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors - Definition of Accounting Estimates The amendments replace the definition of a change in accounting estimates with a definition of accounting estimates. Under the new definition, accounting estimates are “monetary amounts in financial statements that are subject to measurement uncertainty”. The definition of a change in accounting estimates was deleted. However, the IASB retained the concept of changes in accounting estimates in the Standard with the following clarifications: ● A change in accounting estimate that results from new information or new developments is not the correction of an error ● The effects of a change in an input or a measurement technique used to develop an accounting estimate are changes in accounting estimates if they do not result from the correction of prior period errors The amendments are effective for annual periods beginning on or after 1 January 2023 to changes in accounting policies and changes in accounting estimates that occur on or after the beginning of that period, with earlier application permitted. Amendments to IAS 12 Income Taxes - Deferred Tax related to Assets and Liabilities arising from a Single Transaction The amendments introduce a further exception from the initial recognition exemption. Under the amendments, an entity does not apply the initial recognition exemption for transactions that give rise to equal taxable and deductible temporary differences. Depending on the applicable tax law, equal taxable and deductible temporary differences may arise on initial recognition of an asset and liability in a transaction that is not a business combination and affects neither accounting nor taxable profit. Following the amendments to IAS 12, an entity is required to recognize the related deferred tax asset and liability, with the recognition of any deferred tax asset being subject to the recoverability criteria in IAS 12. The amendments apply to transactions that occur on or after the beginning of the earliest comparative period presented. The amendments are effective for annual reporting periods beginning on or after 1 January 2023, with earlier application permitted. The management of the Company anticipate that the application of these amendments may have an impact on the Group’s consolidated financial statements in future periods should such transactions arise. |
Significant Accounting Polici_2
Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Significant Accounting Policies [Abstract] | |
Schedule of straight-line method over the estimated useful life of the asset | Machinery and equipment 6 – 10 years (primarily 10) Leasehold improvements and furniture 7 – 14 years Computers and programs 3 years |
Interest in Other Entities (Tab
Interest in Other Entities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Interest in Other Entities (Tables) [Line Items] | |
Schedule of general information | Ownership rights Main place of interest December 31, 2022 Jeffs’ Brands Ltd. Israel 64.06 % Eventer Technologies Ltd. Israel 53.79 % Charging Robotics Ltd. Israel - GERD IP Inc. USA 10 % Gix Internet Ltd. Israel 57.75 % December 31, 2021 Jeffs’ Brands Ltd. Israel 49.97 % Eventer Technologies Ltd. Israel 52.31 % Charging Robotics Ltd. Israel - GERD IP Inc. USA 10 % |
Schedule of statement of financial position | December 31, December 31, USD in thousands (*) Current assets 1,829 3,469 Non-current assets 1,379 1,521 Current liabilities 2,766 3,571 Non-current liabilities 476 711 Equity (Deficit) (34 ) 708 (*) Translated according to the exchange rate at the date of each statement of financial position. December 31, December 31, USD in thousands Current assets 11,033 2,022 Non-current assets 4,743 5,390 Current liabilities 5,133 2,211 Non-current liabilities 98 3,948 Equity 10,545 1,253 December 31, December 31, USD in thousands (*) Current assets 26,481 23,145 Non-current assets 16,549 19,191 Current liabilities 29,529 26,832 Non-current liabilities 4,127 6,543 Equity 9,374 8,960 Equity attributable to Gix Internet shareholders 4,804 4,130 Non-controlling interests 4,570 4,830 December 31, December 31, USD in thousands Current assets 14,117 20,212 Non-current assets 2,778 3,334 Current liabilities 4,187 1,309 Non-current liabilities 2,550 2,621 Equity 10,158 19,616 December 31, Current assets 1,438 Non-current assets 98 Current liabilities 2,422 Non-current liabilities 772 Equity (1,658 ) December 31, USD in thousands Current assets 193 Non-current assets 748 Current liabilities 420 Non-current liabilities 40 Equity 481 |
Schedule of comprehensive income | Year ended Year ended October 15, 2020 – USD in thousands (**) Revenue 2,465 1,185 40 Net loss (1,316 ) (2,612 ) (490 ) Year ended Year ended USD in thousands Revenue 5,859 6,509 Net loss (1,134 ) (1,540 ) March 1, January 01, Year ended USD in thousands (**) Revenue 83,532 12,193 44,827 Net profit (loss) 414 (438 ) (1,510 ) Other comprehensive income (loss) 499 (295 ) (396 ) Total comprehensive income (loss) 913 (733 ) (1,905 ) Year Nine months Three months ended Year USD in thousands Revenue 665 363 24 491 Net loss (6,575 ) (7,381 ) (1,606 ) (4,667 ) Period February 2 - Revenue 514 Net loss (1,205 ) Period Revenue - Net loss (689 ) |
Schedule of cash flows | Year ended 2022 Year ended October 15, 2020 – USD in thousands (**) Cash flow from (used in) operating activities (16 ) 407 (347 ) Cash flow from (used in) investing activities (34 ) (370 ) 52 Cash flow from (used in) financing activities (163 ) 703 1032 Gain (losses) from exchange differences on cash and cash equivalents (215 ) - - Net increase (decrease) in cash and cash equivalents (428 ) 740 737 (**) Translated according to the average exchange rates for each period. Year ended December 31, 2022 Year ended December 31, 2021 USD in thousands Cash flow used in operating activities (4,823 ) (863 ) Cash flow used in investing activities (41 ) (4,730 ) Cash flow from financing activities 12,611 5,695 Net increase in cash and cash equivalents 7,747 102 February 28, 2022 – December 31, 2022 USD in thousands (**) Cash flow from operating activities 4,232 Cash flow from investing activities 13 Cash flow used in financing activities (3,309 ) Loss from exchange differences on cash and cash equivalents (127 ) Net increase in cash and cash equivalents 809 Three months ended USD Cash flow used in operating activities (774 ) Cash flow used in investing activities (117 ) Cash flow from financing activities 10,281 Net increase in cash and cash equivalents 9,378 |
Schedule of non-controlling interest | December 31, December 31, USD in thousands Eventer 721 1,136 Jeffs’ Brands 7,199 965 Charging Robotics 91 91 Gix Internet 7,480 - GERD IP 57 51 15,548 2,243 |
Schedule of profit (loss) attributed to non-controlling interest | Year ended Year ended USD in thousands ScoutCam - (892 ) Eventer (691 ) (1,112 ) Jeffs’ Brands (396 ) (795 ) GERD IP 7 51 Gix Internet 687 - (393 ) (2,748 ) |
Schedule of summarizes the total share of loss (profit) of investments according to the equity method | December 31, December 31, USD in thousands ScoutCam (note 4C) 9,375 10,735 Gix Internet (note 4F) - 4,867 Parazero (note 4M) 976 - Laminera (note 4N) 1,176 - Polyrizon (note 4H) 214 447 Elbit Imaging (note 4J) - 975 Revoltz (note 4I) 151 216 11,892 17,240 |
Schedule of summarizes the total share of loss (profit) of investments according to the equity method | For the For the USD in thousands ScoutCam (note 4C) 1,360 1,401 Automax (note 4G) - (275 ) Gix Internet (note 4F) 215 822 Parazero (note 4M) 615 - Laminera (note 4N) 157 - Polyrizon (note 4H) 234 74 Elbit Imaging (note 4J) 36 83 Revoltz (note 4I) 42 44 2,659 2,149 |
Schedule of summarize the Company’s rights in share capital and voting rights | Main place of Company rights in share the business % December 31, 2022 Parazero Israel 40.35 % Laminera Israel 19.70 % Polyrizon Israel 37.03 % ScoutCam Israel 27.02 % Fuel Doctor Israel 28.63 % Revoltz Israel 19.9 % December 31, 2021 Gix Internet Israel 34.58 % Polyrizon Israel 36.81 % ScoutCam Israel 27.02 % Elbit Imaging Israel 5.72 % Fuel Doctor Israel 35.06 % Revoltz Israel 19.9 % |
Schedule of fair value investments in affiliated companies for market price on stock exchange | December 31, December 31, Carrying amount Quoted fair value Carrying amount Quoted fair value USD in thousands ScoutCam 9,375 9,623 10,735 15,397 Gix Internet (*) - - 4,867 5,854 Elbit Imaging (**) - - 723 974 (*) Gix Internet was consolidated as of February 28, 2022 (note 4F). (**) Elbit Imaging investment was accounted for as assets at fair value through profit or loss as of October 18, 2022 (note 4J). |
Schedule of purchase price allocation upon deconsolidation | March 31, USD Fair value of investment 11,843 Total consideration 11,843 ScoutCam’s Equity as of March 31, 2021 22,338 Adjustments to Equity (5,445 ) Equity ss adjusted 16,893 Groups share in % 28.06 % 4,740 Excess cost to allocate: 7,103 Technology 1,672 Deferred tax liability (385 ) Total intangible assets identified 1,287 Excess purchase price to allocate to goodwill 5,816 |
Schedule of activity in investment account | January 1, 2022 - USD Investment as of January 1, 2022 10,735 Group share in losses (1,776 ) Excess cost Amortization-technology (124 ) Share based compensation 442 Group share in forfeited options 98 Investment as of December 31, 2022 9,375 April 1, 2021 - USD Investment as of April 1, 2021 11,843 Group share in losses (2,044 ) Excess cost Amortization-technology (96 ) Share based compensation 540 Exercise of warrants by the Group 234 Group share in exercise warrants by others 218 Group share in forfeited options 32 Additional investment allocated to goodwill 8 Investment as of December 31, 2021 10,735 Two months USD Balance as of January 01, 2022 4,867 Group share in losses (100 ) Group share in other comprehensive loss (45 ) Excess cost amortization (116 ) Balance as of February 28, 2022 4,606 Year ended USD Balance as of January 01, 2021 1,013 Group share in losses (298 ) Group share in other comprehensive loss (227 ) Excess cost amortization (525 ) Exercise of the Conversion Right on March 31, 2021 2,586 Exercise of the Conversion Right on June 30, 2021 1,831 Additional purchase on October 1, 2021 222 USD/NIS translation adjustments 265 Balance as of December 31, 2021 4,867 For the USD in Balance as of January 01, 2022 447 Group share in losses (233 ) Balance as of December 31, 2022 214 For the USD in Balance as of January 01, 2021 103 Group share in losses (50 ) Excess cost amortization (24 ) Additional purchase on March 9, 2021 297 Additional purchase on August 25, 2021 121 Balance as of December 31, 2021 447 Period ended USD Balance as of January 01, 2022 975 Dividend (171 ) Group share in losses (36 ) USD/NIS translation adjustments (108 ) Balance as of October 18, 2022 660 Gain as a result of transition to fair value 170 Fair value of the investment at the day of the transition 830 Year ended December 31, USD in Investment as of December 31, 2021 911 Additional purchases 33 Sales (46 ) Revenues – Capital losses (224 ) Revaluation – Capital loss (614 ) Revaluation – Finance income 599 Revaluation – Forward contract 576 Provision- Forward contract (576 ) Investment as of December 31, 2022 659 February 2, USD Balance as of February 02, 2022 1,595 Group share in losses (553 ) Excess cost amortization (66 ) Balance as of December 31, 2022 976 March 31, 2022- USD Balance as of March 31, 2022 1,333 Group share in losses (136 ) Excess cost amortization (21 ) Balance as of December 31, 2022 1,176 |
Schedule of reconciliation to carrying amounts | December 31, USD Equity attributable to ScoutCam 11,785 Adjustments to Equity (1,628 ) Equity As adjusted as of December 31, 2022 10,157 Groups share in % 27.02 % Group share 2,744 Balance of excess cost: Technology, net of deferred tax 1,023 Goodwill 5,608 Balance as of December 31, 2022 9,375 December 31, USD Equity attributable to ScoutCam 19,615 Adjustments to Equity (4,883 ) Equity As adjusted as of December 31, 2021 14,732 Groups share in % 27.02 % Group share 3,981 Balance of excess cost: Technology, net of deferred tax 1,146 Goodwill 5,608 Balance as of December 31, 2021 10,735 February 28, USD Equity attributable to Gix Internet shareholders’ as of February 28, 2022 4,098 Adjustments to Equity (543 ) Equity As adjusted as of December 31, 2021 3,555 34.58 % Group share 1,229 Balance of excess cost: Technology and customers relationship, net of deferred tax 2,336 Goodwill 1,041 Balance as of February 28, 2022 4,606 December 31, USD Equity attributable to Gix Internet shareholders’ as of December 31, 2021 4,129 Adjustments to Equity (566 ) Equity As adjusted as of December 31, 2021 3,563 Groups share in % 34.58 % Group share 1,232 Balance of excess cost: Technology and customers relationship, net of deferred tax 2,551 Goodwill 1,084 Balance as of December 31, 2021 4,867 December 31, USD Equity attributable to shareholders’ as of December 31, 2022 (1,657 ) Adjustments to equity (333 ) Equity as adjusted as of December 31, 2022 (1,990 ) Groups share in % 40.35 Group share (803 ) Balance of excess cost: Technology 677 Goodwill 1,102 Balance as of December 31, 2022 976 December 31, USD Equity attributable to shareholders’ as of December 31, 2022 481 Adjustments to equity (339 ) Equity as adjusted as of December 31,2022 142 Groups share in % 19.70 % Group share 28 Balance of excess cost: IPR&D 252 Goodwill 896 Balance as of December 31, 2022 1,176 |
Schedule of eventer price allocation | January 4, USD Cash consideration invested in Jeffs’ Brands 1,650 Non- cash consideration invested in Jeffs’ Brands 71 Total consideration 1,721 Less: Fair value of net assets acquired 2,314 Non-controlling interest (1,156 ) Total acquired 1,158 Goodwill 563 February 28, USD Cash consideration 731 Fair value of pre-acquisition interests 6,939 Total consideration 7,669 Less: Fair value of tangible assets and liabilities acquired (8,282 ) Fair value of technology acquired, net of deferred taxes 10,150 Fair value of customer relations acquired, net of deferred taxes 5,486 Non-controlling interests (7,849 ) Total acquired (495 ) Goodwill 8,164 |
Schedule of short term loans | December 31, December 31, USD in thousands Amazon loans 86 101 Related party loan - 111 Third parties’ loans - 715 86 927 December 31, USD Short term bank loans 5,025 Current maturities of long-term loans 1,500 Total consideration 6,525 |
Schedule of long term loans | December 31, USD in thousands Long term bank loans 2,881 |
Schedule of activity in investment account | December 7, December 31, USD in thousands Cash investment 825 Revaluation – capital gain 16 Revaluation – Finance income 70 Revaluation – Forward contract 23 Provision- Forward contract (23 ) Investment as of December 31, 2021 911 |
Schedule of activity in investment account | Year ended USD Purchase of shares during June and July 2021 1,200 Revaluation – profit and loss till August 4, 2021 (72 ) Reclassification to equity investment 1,128 Group share in losses (83 ) Impairment (104 ) USD/NIS translation adjustments 34 Balance as of December 31, 2021 975 |
Schedule of purchase price allocation | February 2, USD Purchase price 1,595 Adjusted equity (252 ) Excess to allocate 1,847 Excess purchase price to allocate to technology 745 Goodwill 1,102 Total 1,847 March 31, USD Cash consideration 300 Share consideration 400 Fair value of former holdings 633 Total purchase price 1,333 Adjusted Company’s equity (164 ) Excess to allocate 1,169 Excess purchase price to allocate to IPR&D 273 Goodwill 896 Total 1,169 |
Automax Ltd [Member] | |
Interest in Other Entities (Tables) [Line Items] | |
Schedule of activity in investment account | March 9, USD Investment as of January 1, 2021 Equity method 546 Held for sale asset 547 Total as of January 1, 2021 1,093 Sale of held for sale asset (102 ) Share of net profit of associate accounted for using the equity method 275 Total amount as of March 9, 2021 1,266 Eliminate investment held for sale and equity as a result of transition to fair value (1,266 ) Fair value of the investment at the day of the transition 1,553 |
Financial Instruments and Fin_2
Financial Instruments and Financial Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial Instruments and Financial Risk Management [Abstract] | |
Schedule of fair value financial assets | December 31, December 31, Level 1 Level 3 Total Level 1 Level 3 Total USD in thousands Gix Internet anti-dilution protection (note 4F) - - - - 469 469 Laminera shares (note 4N) - - - - 126 126 Safo shares 10 - 10 53 - 53 Safo warrants - - - - 34 34 Maris shares 84 - 84 - 246 246 Maris warrants - 13 13 - 57 57 Tondo shares 97 - 97 429 - 429 Safee shares (note 4P) - 400 400 - 400 400 SciSparc shares (note 4K) 659 - 659 911 - 911 Polyrizon warrants (note 4H) - 399 399 - 516 516 Polyrizon - SAFE (note 4H) - 302 302 - - - Elbit Imaging shares (note 4J) 613 - 613 - - - ClearMind warrants (note 4O) - 4 4 - - - ClearMind shares (note 4O) 594 - 594 - - - ClearMind anti-dilution protection (note 4O) - - - - - - Colugo shares - 400 400 - - - Parazero - SAFE (note 4M) - 520 520 - - - Bubbles shares 151 - 151 - - - Automax bonds (note 4G) 9 - 9 - - - Automax shares (note 4G) 1,114 - 1,114 1,676 - 1,676 Total 3,331 2,038 5,369 3,069 1,848 4,917 |
Schedule of financial assets | ClearMind Safo A.I Systems Tondo Bubbles SciSparc Maris Automax bonds Investment Elbit Automax shares Total USD in thousands Balance as of January 1, 2022 53 - 429 - 911 - - - 1,676 3,069 Purchase of securities - 75 - 306 32 75 69 1,512 - 214 2,283 Net changes at fair value recognized through profit or loss (43 ) - (26 ) (148 ) (15 ) (238 ) - (1,207 ) (217 ) (578 ) (2,472 ) Sale of securities - (103 ) (344 ) (46 ) - (60 ) - - - (553 ) Realized gain (loss) - 28 67 - (223 ) - 1 - - - (127 ) Exchange differences - - (29 ) (7 ) - - (1 ) (2 ) - (198 ) (237 ) transfer from level 3 to level 1 - - - - - 247 - 291 - - 538 Transfer from equity method to level 1 - - - - - - - - 830 - 830 Balance as of December 31, 2022 10 - 97 151 659 84 9 594 613 1,114 3,331 Maris Polyrizon warrants Laminera Gix Internet SAFO Warrants ClearMind warrants ClearMind anti-dilution Safee Parazero -SAFE Polyrizon -SAFE Colugo Total USD in thousands Balance as of January 1, 2022 303 516 126 469 34 - - 400 - - - 1,848 Initial recognition of financial asset 25 - - - - 197 40 - 520 314 400 1,496 Exchange differences - - (42 ) - (1 ) (20 ) - - - - (63 ) Net change at fair value recognized through profit or loss (68 ) (117 ) 507 (427 ) (34 ) (200 ) 279 - - (12 ) (72 ) transfer to equity investment treatment - - (633 ) - - - - - - - (633 ) transfer from level 3 to level 1 (247 ) - - - - 8 (299 ) - - - (538 ) Balance as of December 31, 2022 13 399 - - - 4 - 400 520 302 400 2,038 Investment Tondo SciSparc Automax Total USD in thousands Balance as of January 1, 2021 113 - - - 113 Initial recognition at fair value upon dilution of equity investment - - - 1,553 1,553 Purchase of securities - 472 825 279 1,576 Sale of securities - (42 ) - (42 ) Net change in fair value of financial assets at fair value recognized through profit or loss (60 ) (1 ) 86 (156 ) (131 ) Balance as of December 31, 2021 53 429 911 1,676 3,069 Gix Media’s shares Gix Warrants ScoutCam warrants Maris investment and warrants Conversion Right Polyrizon warrants Laminera Gix Internet SAFO Warrants Safee Total USD in thousands Balance as of January 1, 2021 2,438 14 - - 1,393 - - 473 98 - 4,416 Initial recognition at fair value of ScoutCam warrants upon deconsolidation (note 4C) - - 97 - - - - - - - 97 Exercise of warrants - - (51 ) - - - - - - - (51 ) Purchase of securities - - - - - - - - - 400 400 Initial recognition of financial asset - - - 240 - - 126 - - - 366 Net changes at fair value recognized through profit or loss 373 (14 ) (46 ) 63 213 516 - (4 ) (64 ) - 1,037 Exercise of Conversion Right (note 4F) (2,811 ) - - - (1,606 ) - - - - - (4,417 ) Balance as of December 31, 2021 - - - 303 - 516 126 469 34 400 1,848 |
Schedule of financial liabilities that were measured at fair value | December 31, December 31, 2022 2021 Level 1 Level 3 Total Level 1 Level 3 Total USD in thousands USD in thousands Fair value of warrants 396 4,159 4,555 555 137 692 |
Schedule of Level 3 financial liabilities | Warrants USD in thousands Opening balance as of January 1, 2022 137 Issuance of warrants in connection with the IPO of Jeffs’ Brands (note 4E) 7,640 Changes in fair value of warrants in connection with the IPO of Jeffs; Brands (3,490 ) Changes in fair value of warrants issued to lenders of Jeffs’ Brands upon IPO (128 ) Closing balance as of December 31, 2022 4,159 Warrants USD in thousands Opening balance as of January 1, 2021 36 Changes in fair value of warrants issued to investors (36 ) Fair value of warrants to be issued to lenders of Jeffs’ Brands upon IPO 62 Changes in fair value of warrants to be issued to lenders of Jeffs’ Brands upon IPO 75 Closing balance as of December 31, 2021 137 Warrants USD in thousands Opening balance as of January 1, 2022 555 Changes in fair value of warrants (159 ) Closing balance as of December 31, 2022 396 Warrants USD in thousands Opening balance as of January 1, 2021 1,039 Changes in fair value of warrants (484 ) Closing balance as of December 31, 2021 555 |
Schedule of IPO Warrants and Additional Warrants | Expected volatility 77.57% - 78.89% Exercise price (in USD) 2.02 - 4.04 Share price (in USD) 1.53 - 1.865 Risk-free interest rate 3.27% - 4.04% Dividend yield - Expected life 3 - 4.74 WACC 21.5% - 23.3% |
Cash and Cash Equivalents, Sh_2
Cash and Cash Equivalents, Short Term Deposit and Pledged Deposit (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Cash and Cash Equivalents, Short Term Deposit and Pledged Deposit (Tables) [Line Items] | |
Schedule of cash and cash equivalents | December 31 2022 2021 USD in thousands Cash and cash equivalents – held in bank accounts 20,065 24,025 Short term deposits – held in bank accounts 859 - Restricted cash – held in bank accounts (*) 185 - 21,109 24,025 (*) Gix Media has pledged deposits in an aggregated amount of approximately NIS 523 thousand (USD 149 thousand) as guarantees for credit cards, banks and for the owner of the rented property. Cortex has a pledged deposit in the amount of NIS 107 thousand (USD 36 thousand) as a guarantee for the leased offices. |
Schedule of cash and cash equivalents currencies denominated | December 31 2022 2021 USD in thousands USD 14,680 22,151 NIS 6,428 1,874 Other currencies 1 - 21,109 24,025 |
Other Receivables Prepaid Exp_2
Other Receivables Prepaid Expenses and Loans to Others (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Receivables Prepaid Expenses and Loans to Others (Tables) [Line Items] | |
Schedule of other receivables and prepaid expenses | December 31 2022 2021 USD in thousands Government institutions 924 79 Prepaid expenses 469 126 Advances to suppliers 417 18 Other 118 192 1,928 415 |
Schedule of loans to others | December 31 2022 2021 USD in thousands Loan to Safee (see note 4D) 71 - Loan to A.I Systems Ltd. * 940 - 1,011 - |
Inventory (Tables)
Inventory (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Inventories Text Block Abstract | |
Schedule of inventory | December 31 2022 2021 USD in thousands Goods in transit 8 161 Finished goods 1,783 1,066 1,791 1,227 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Schedule of Property and Equipment and Accumulated Depreciation [Abstract] | |
Schedule of property and equipment and accumulated depreciation | Machinery Leasehold Computer Total USD in thousands Cost: Balance as of January 01, 2022 735 135 537 1,407 Additions - 42 32 74 Consolidation of Gix Internet (note 4F) - 425 542 967 Currency translation - (10 ) (15 ) (25 ) Balance as of December 31, 2022 735 592 1,096 2,423 Accumulated Depreciation: Balance as of January 01, 2022 692 126 512 1,330 Consolidation of Gix Internet (note 4F) - 205 401 606 Additions 10 48 41 99 Currency translation (13 ) (7 ) - (20 ) Balance as of December 31, 2022 689 372 954 2,015 Property and Equipment, net, as of December 31, 2022 46 220 142 408 Machinery Leasehold Computer Total USD in thousands Cost: Balance as of January 01, 2021 947 172 605 1,724 Additions 99 1 39 139 Removal upon deconsolidation (311 ) (38 ) (107 ) (456 ) Balance as of December 31, 2021 735 135 537 1,407 Accumulated Depreciation: Balance as of January 01, 2021 703 149 527 1,379 Additions 19 3 16 38 Removal upon deconsolidation (30 ) (26 ) (31 ) (87 ) Balance as of December 31, 2021 692 126 512 1,330 Property and Equipment, net, as of December 31, 2021 43 9 25 77 |
Goodwill and Inatangible Asse_2
Goodwill and Inatangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill and Inatangible Assets [Abstract] | |
Schedule of composition and movements | Technology Software license Patent Brand name Customer relationship Goodwill Total USD in thousands Cost: Balance as of January 01, 2022 478 1,506 75 6,039 - 926 9,024 Additions - 35 - - - - 35 Currency translation (42 ) (175 ) - - - (23 ) (240 ) Consolidation of Gix Internet (note 4F) 12,485 - - - 6,234 8,164 26,883 Balance as of December 31, 2022 12,921 1,366 75 6,039 6,234 9,068 35,703 Accumulated Amortization: Balance as of January 01, 2022 (69) - - (634 ) - - (703 ) Additions (1,712 ) - - (596 ) (742 ) - (3,050 ) Currency translation (74 ) - - - - - (74 ) Consolidation of Gix Internet (note 4F) (1,014 ) - - - - - (1,014 ) Balance as of December 31, 2022 (2,869 ) - - (1,230 ) (742 ) - (4,841 ) Intangible assets, net, as of December 31, 2022 10,052 1,366 75 4,809 5,492 9,068 30,862 Technology Software Patent Brand Goodwill Total USD in thousands Cost: Balance as of January 01, 2021 199 - - - 296 495 Additions 279 1,460 75 4,728 55 6,597 Currency translation - 46 - - 11 57 Acquisition of subsidiary - - - 1,311 564 1,875 Balance as of December 31, 2021 478 1,506 75 6,039 926 9,024 Accumulated Amortization: Balance as of January 01, 2021 - - - - - - Additions (69 ) - - - - (69 ) Impairment - - - (89 ) - (89 ) Acquisition of subsidiary - - - (545 ) - (545 ) Balance as of December 31, 2021 (69 ) - - (634 ) - (703 ) Intangible assets, net, as of December 31, 2021 409 1,506 75 5,405 926 8,321 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
Schedule of right-of-use assets | Buildings USD in Cost: At December 31, 2021 - Acquisition of subsidiary 619 Additions 152 At December 31, 2022 771 Accumulated Depreciation: At December 31, 2021 - Acquisition of subsidiary (92 ) Charge for the year (88 ) At December 31, 2022 (180 ) Carrying amount At 31 December 2022 591 |
Schedule of Leases | December 31 2022 USD in thousands Amounts recognized in profit and loss Depreciation expense on right-of-use assets 88 Interest expense on lease liabilities 82 Expense relating to short-term leases 71 |
Schedule of lease liabilities | 2022 USD in thousands Year 1 148 Year 2 148 Year 3 133 Year 4 114 Year 5 118 Onwards 19 Less: unearned interest (37 ) 643 Analyzed as: Non-current 512 Current 131 643 |
Taxes on Income (Tables)
Taxes on Income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Schedule of Amount of Tax Reflected in the Consolidated Statements of Loss [Abstract] | |
Schedule of deferred taxes | As of As of 2022 2021 USD in thousands Deferred tax assets Deferred research and development expenses 261 - Intangible assets 110 55 Employee compensation and benefits 13 - Other - 40 Accrued severance pay 13 - Total deferred tax assets 397 95 Deferred tax liabilities: Differences between tax basis and carrying values of loans - 111 Intangible assets associated with business combinations 1,817 220 Total deferred tax liabilities 1,817 331 Net deferred tax liabilities 1,420 236 |
Schedule of income tax expenses | Year ended December 31, 2022 2021 2020 USD in thousands Current tax expenses 813 94 9 Tax benefit in respect of prior years (82 ) - - Deferred tax expenses (income) (620 ) 11 - Taxes on expenses 111 105 9 |
Schedule of carry forward tax losses | December 31, December 31, USD in thousands Medigus* 60,000 62,000 Eventer* 3,300 2,700 Charging Robotics* 574 360 GERD IP* 786 857 Jeffs’ Brands* 1,217 747 Jeffs’ Brands subsidiaries - 49 Gix Internet 18,471 - |
Schedule of amount of tax reflected in the consolidated statements of Loss | 2022 2021 2020 USD in thousands Income (Loss) before taxes on income (10,097 ) 4,151 (6,841 ) Theoretical tax rate 23 % 23 % 23 % Theoretical tax expense (benefit) (2,322 ) 955 (1,575 ) Disallowed deductions (tax exempt income): Change in fair value of assets and liabilities measured at fair value through profit or loss (38 ) (275 ) 86 Share-based compensation 183 539 298 Amortization of excess purchase price of an associate - 60 126 Profit recognized upon deconsolidation - (2,678 ) - Profit recognized upon first time consolidation (529 ) - - Non-deductible expenses 723 - - Different tax rates applicable to subsidiaries (360 ) (85 ) - Tax benefits in respect of prior years (84 ) - - Other 17 - 2 Tax losses and timing differences incurred in the reporting year for which deferred taxes were not created 2,521 1,589 1,072 Taxes on income 111 105 9 |
Accounts Payables, Accrued Ex_2
Accounts Payables, Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Accounts Payables And Other Current Liabilities Text Block Abstract Abstract | |
Schedule of accounts payables | December 31, 2022 2021 USD in thousands NIS unlinked 2,713 461 USD 17,708 241 20,421 702 |
Schedule of accrued expenses and other current liabilities | December 31, 2022 2021 USD in thousands Employees and related institutions 949 185 Government authorities 798 128 Accrued expenses 961 1,080 Other 443 139 3,151 1,532 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Share Capital Reserves And Other Equity Interest Text Block Abstract | |
Schedule of share capital | Number of shares Amount Authorized Issued and paid Authorized Issued and paid December 31, December 31, December 31, December 31, 2022 2021 2022 2021 2022 2021 2022 2021 In thousands NIS in thousands USD in thousands Ordinary shares of NIS 1.00 par value as of December 31, 2021, and no-par value as of December 31, 2022 200,000 50,000 24,661 23,850 - - - - |
Schedule of warrants outstanding | 2022 Series Date of grant Number of exercise Expiration Series L(*) November 2017 6,750 135 May 27, 2023 Warrants C(*) July 2018 176,045 52.5 July 18, 2023 Warrants C(**) July 2018 28,377 52.5 July 18, 2023 HCW warrants(*) July 2018 13,242 65.63 July 18, 2023 Total 224,414 2021 Series Date of grant Number of exercise Expiration Series I(*) December 2016 665 540 June 06, 2022 Series J(**) December 2016 33 540 June 06, 2022 Warrants A(*) March 2017 35,715 210 March 29, 2022 Placement 03/2017(**) March 2017 2,500 262.5 March 29, 2022 Series L(*) November 2017 6,750 135 May 27, 2023 Series M(**) November 2017 945 150 November 24, 2022 Warrants C(*) July 2018 176,045 52.5 July 18, 2023 Warrants C(**) July 2018 28,377 52.5 July 18, 2023 HCW warrants(*) July 2018 13,242 65.63 July 18, 2023 Algomizer (Note 3)(**) September 2019 22,222 60 September 3, 2022 Total 286,494 |
Schedule of grants of options to employees and other service | Date of grant Number of options granted (**) exercise Currency Fair value Number of Number of Expiration October 2017 38,150 32.4 NIS 942 NIS 13,850 13,850 October 17, 2023 January 2019(*) 150,000 11.8 NIS 947 NIS 112,500 112,500 January 9, 2025 July 2019(*) 62,500 11.8 NIS 325 NIS 62,500 54,688 July 25, 2025 June 2020 62,500 11.8 NIS 283 NIS 62,500 52,083 May 31, 2026 July 2020(*) 37,500 8.96 NIS 123 NIS 37,500 28,125 July 8, 2026 October 2020 15,000 11.8 NIS 70 NIS 15,000 10,000 October 21, 2026 June 2021(*) 900,000 1.783 USD 1,221 USD 900,000 525,000 June 29, 2027 June 2021 280,000 1.783 USD 380 USD 280,000 163,333 June 29, 2027 June 2021 100,000 1.783 USD 136 USD 100,000 50,000 June 1, 2027 October 2021 90,000 1.783 USD 91 USD 90,000 30,000 October 12, 2027 Total 1,735,650 1,673,850 1,039,579 |
Schedule of options calculated using the Black and Scholes options pricing model | Date of grant Fair Share price on date of grant (*) Expected dividend Expected volatility Risk free interest Vesting conditions Expected October 2017 1,109 NIS 32.4 NIS None 64 % 1.16 % four equal batches, following one, two, three and four years from their grant date 6 years January 2019 947 NIS 10.12 NIS None 74 % 1.45 % will vest in 12 equals quarterly instalments over a three-year period commencing October 1, 2018 6 years July 2019 325 NIS 8.72 NIS None 75 % 1.12 % 25% will vest on the first anniversary of the grant date and 75% will vest on a quarterly basis over a period of three years thereafter 6 years June 2020 282 NIS 7.94 NIS None 74 % 0.53 % will vest in 12 equals quarterly instalments over a three-year period commencing June 1, 2020 6 years July 2020 124 NIS 5.8 NIS None 74 % 0.37 % will vest in 12 equals quarterly instalments over a three-year period commencing July 9, 2020 6 years October 2020 70 NIS 8 NIS None 76 % 0.42 % will vest in 12 equals quarterly instalments over a three-year period commencing October 22, 2020 6 years June 2021 1,737 USD 1.8 USD None 87 % 0.69 % Will vest over a period of 3 years commencing on April 1, 2021(except for 2,000,000 options commencing on June 1, 2021), with 1/12 of such options vesting at the end of each subsequent three-month period following the grant 6 years October 2021 91 USD 1.4 USD None 85 % 0.47 % Will vest over a period of 3 years commencing on October 12, 2021, with 1/12 of such options vesting at the end of each subsequent three-month period following the grant 6 years |
Schedule of share options and the weighted averages of their exercise prices | For the year ended December 31, 2022 2021 2020 Number of options Weighted average of exercise price per Number of options Weighted average of exercise price per Number of options Weighted average of exercise price per Outstanding at the beginning of year 1,674,950 7.02 348,182 13.6 213,820 17.6 Granted - - 1,370,000 5.81 152,500 11.1 Forfeited (1,100 ) 32.4 (42,778 ) 17.23 (17,723 ) 17.25 Expired - - (454 ) 410 (415 ) 1074 Outstanding at year end 1,673,850 7.00 1,674,950 7.02 348,182 13.6 Exercisable at year end 1,039,579 7.57 530,054 8.78 143,311 16.05 |
Expenses by Nature (Tables)
Expenses by Nature (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Expenses by Nature [Abstract] | |
Schedule of expenses by nature | Year ended 2022 2021 2020 USD in thousands Payroll and related expenses 7,647 2,656 2,420 Professional fees 7,421 5,990 2,963 Traffic-acquisition, materials used and subcontracted work 75,455 3,248 1,128 Preparation of patents 153 471 289 Rent and office maintenance 139 158 215 Depreciation and amortization 3,188 342 116 Advertising and participation in exhibitions 1,616 1,712 133 Other 2,262 1,312 732 Amazon Fees 2,558 2,426 - Amortization of excess purchase price of an associate - 263 546 TOTAL COST OF REVENUES, INVENTORY IMPAIRMENT, RESEARCH AND DEVELOPMENT, SELLING AND MARKETING AND GENERAL AND ADMINISTRATIVE EXPENSES 100,439 18,578 8,542 |
Earning (Loss) Per Share (Table
Earning (Loss) Per Share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Earnings Per Share Text Block Abstract | |
Schedule of numerator and denominator of the basic and diluted net loss per share | Year ended 2022 2021 2020 Numerator (USD in thousands): Net earnings (loss) attributable to Medigus Ltd. (9,815 ) 6,794 (4,325 ) Denominator (in thousands): Weighted average number of ordinary shares used for basic and diluted earnings (loss) per share calculation* 24,385 23,036 6,672 Net earnings (loss) per share attributable to Medigus Ltd. (USD): * Basic (0.40 ) 0.2 (0.6 ) Diluted (0.40 ) 0.2 (0.6 ) * Adjusted to reflect the Reverse Split at ratio of 20:1 occurred effected on July 7, 2022 – see also note 14 |
Transactions and Balances wit_2
Transactions and Balances with Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Transactions and Balances with Related Parties [Abstract] | |
Schedule of transactions with related parties | Year ended on 2022 2021 2020 USD in thousands Benefits to related parties: Payroll and related expenses to related parties employed by the Company* 1,784 1,241 629 Compensation to directors ** 837 733 1,115 Directors’ and Officers’ insurance 846 788 405 Consultant services *** 218 - 208 Interest and discount amortizations of loans from Jeffs’ Brands related parties **** 42 172 - Finance expense on Screenz payable balance (see note 4D) 212 169 - Compensation to member of senior management of Gix Internet ***** 34 - - Eventer sales and marketing expenses to Keshet (see note 4D) 165 279 - Eventer revenues from related parties - 23 - Eventer general and administrative expenses to Screenz 41 13 - * Includes granted options benefit in the aggregated amount of USD 263 thousand, USD 583 thousand and USD 189 thousand for the years ended December 31, 2022, 2021 and 2020, respectively. As for the method used to determine the said value and the assumptions used in calculation thereof, see note 14c. ** Includes granted options benefit in the aggregated amount of USD 81 thousand, USD 195 thousand and USD 734 thousand for the years ended December 31, 2022, 2021 and 2020, respectively and provision and payments of bonus of approximately USD 77 thousand and USD 86 thousand, for each of the years ended December 31, 2022, and 2021, respectively. As for the method used to determine the said value and the assumptions used in calculation thereof, see note 14c. *** Kfir Zilbrman is a related party of Jeff Brands . **** Julia Gerasimova, and Victor Hakmon are related parties of Jeffs’ Brands, see note 4E. ***** Cortex CTO is a related party of Gix Internet. |
Schedule of compensation to key management personnel | Year ended on 2022 2021 2020 USD in thousands For employment services: Payroll and other short-term benefits 1,521 (*) 657 (**) 440 (***) Share based payments 263 584 189 1,784 1,241 629 * Including provision for bonus of approximately USD 349 thousand. ** Including provision for bonus of approximately USD 118 thousand. *** Including provision for bonus of approximately USD 53 thousand. |
Schedule of current assets | December 31, December 31, 2022 2021 USD in thousands Related party prepaid expense (a related party of Eventer) (note 4D) - 981 Advances to Pure Logistics (related party of Jeffs’ Brands) (note 4E) 228 - Other receivables (a related party of Gix Internet) (note 4F) 60 - Other receivables (a related party of Eventer) (note 4D) 10 18 298 999 |
Schedule of non current assets | December 31, December 31, 2022 2021 USD in thousands Short term loan to a related party (loan from Medigus to Gix Internet) (note 4F) * - 1,265 Short term loan to a related party (loan from Medigus to Laminera) (note 4N) 93 - Short term loan to a related party (loan from Charging Robotics to Revoltz) (note 4I) 62 - Credit line to Parazero (note 4M) 391 - 546 1,265 * Gix Internet is consolidated commencing February 28, 2022. |
Schedule of current liabilities | December 31, December 31, 2022 2021 USD in thousands Compensation to key management personnel(*) 649 270 Other payable dividend to related parties of Gix Internet 284 - Current liabilities of Jeffs’ Brands to related parties - 177 Other accrued expenses to related parties of Eventer 122 169 1,055 616 * Compensation to key management: |
Schedule of balances with related parties | December 31, 2022 2021 USD in thousands Directors’ fee 496 183 Payroll, provision for bonus and for termination of employment 153 87 649 270 |
Schedule of loans | December 31, December 31, 2022 2021 USD in thousands Current portion of long-term payable - Screenz cross media Ltd (a related party of Eventer) (see note 4D) - 506 Long-term payable - Screenz cross media Ltd (a related party of Eventer) (see note 4D) - 711 Short term loans of Jeffs’ Brands from related parties (*) - 111 Long term loans of Jeffs’ Brands from related parties (**) - 689 * Kfir Zilberman is a related party of Jeffs’ Brands. ** Julia Gerasimova, Kfir Zilberman and Victor Hakmon are related parties of Jeffs’ Brands. |
Revenues (Tables)
Revenues (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Revenues [Abstract] | |
Schedule of group’s revenues disaggregated by revenue | Year ended on 2022 2021 2020 USD in thousands Miniature camera and related equipment (from ScoutCam) - 24 491 Revenues from commissions (from Eventer) 2,465 1,185 40 Products (from Jeffs’ Brands) 5,861 6,509 - Revenues from internet services (from Gix Internet) * 83,532 - - MUSE and related equipment (from Medigus). - 2,400 - 91,858 10,118 531 |
Schedule of contract fulfilment assets | December 31, 2021 USD Balance at beginning of year 1,130 Increase in the period relating to ScoutCam 240 Derecognition upon deconsolidation of ScoutCam (note 4C) (1,370 ) Balance at end of year - |
Schedule of company’s contract liabilities | December 31, December 31, USD in thousands Balance at beginning of year 108 2,649 Deferred revenue relating to new sales 49 1,370 De recognition upon deconsolidation of ScoutCam (note 4C) - (1,511 ) Revenue recognition during the period (108 ) (2,400 ) Balance at end of year 49 108 |
Segments (Tables)
Segments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Segments [Abstract] | |
Schedule of operating results of the group | December 31, 2022 Corporate E-commerce Online Online Others Adjustments and eliminations Total USD in thousands Total segments’ assets 19,478 15,667 50,999 3,208 *11,368 (3,069) 97,651 Total segments’ liabilities (1,198 ) (5,025 ) (33,203 ) (3,244 ) (952 ) 660 (42,962 ) Year ended December 31, 2022 Corporate E-commerce Online Online Others Adjustments Total USD in thousands External revenue - 5,859 83,534 2,465 - - 91,858 Segment results – operating income (loss) (7,301 ) (4,510 ) 2,341 * (748 ) (2,829 )** (736 ) (13,783 ) Non-operating income (loss) (167 ) 3,619 (731 ) (30 ) 137 3,166 5,994 Finance income (loss) (224 ) (520 ) (1,100 ) (539 ) (8 ) 82 (2,309 ) Profit (Loss) before taxes on income (7,692 ) (1,410 ) 510 (1,317 ) (2,700 ) 2,512 (10,097 ) Tax benefit (expense) on income (5 ) 5 (310 ) - 10 189 (111 ) Segment results – profit (loss) (7,697 ) (1,405 ) 200 (1,317 ) (2,690 ) 2,701 (10,208 ) December 31, 2021 Corporate E-commerce Online Event Management Others Adjustments and eliminations Total USD in thousands Total segments’ assets 33,695 7,412 9,357 * 11,692 ** (2,926 ) 59,730 Total segments’ liabilities (1,571 ) (6,159 ) (4,282 ) (399 ) 4,114 (8,297 ) Year ended December 31, 2021 Corporate E-commerce Online Event Management Others Adjustments and eliminations Total USD in thousands External revenue 2,400 6,509 1,185 24 - 10,118 Segment results – operating income (loss) (2,271 ) (932 ) (3,229 )* (3,531 )** 68 (9,895 ) Non-operating income 2,509 - - 494 11,390 *** 14,393 Finance income (loss) 555 (629 ) (206 ) (15 ) (52 ) (347 ) Profit (Loss) before taxes on income 793 (1,561 ) (3,435 ) (3,052 ) 11,406 4,151 Tax benefit (expense) on income - 21 - - (126 ) (105 ) Segment results – profit (loss) 793 (1,540 ) (3,435 ) (3,052 ) 11,280 4,046 |
Entity Level Disclosures (Table
Entity Level Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Entity Level Disclosures [Abstract] | |
Schedule of revenues by geographical area | Year ended on 2022 2021 2020 USD in thousands USA 52,129 6,307 418 Europe 21,897 127 41 Israel 15,266 1,183 45 Asia 2,108 2,400 24 Other 458 101 3 91,858 10,118 531 |
Schedule of revenue by major customers | Year ended on 2022 2021 2020 USD in thousands Customer A - - 383 Customer B - 2,400 24 Customer C 16,919 - - Customer D 16,468 - - |
General (Details)
General (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |||||
Aug. 28, 2022 | Apr. 19, 2020 | Jan. 13, 2020 | Aug. 30, 2022 | Feb. 28, 2022 | May 16, 2021 | Dec. 31, 2022 | |
General (Details) [Line Items] | |||||||
Stock capital, percentage | 90% | ||||||
Capital notes issued (in Dollars) | $ 2,000,000 | $ 2,000 | |||||
Issued and outstanding share capital percentage | 35.94% | 46.21% | |||||
Description of agreement | Company entered into a stock exchange and plan of restructuring agreement with Victor Hakmon, the other shareholder of Pro and Purex, and Jeffs’ Brands Ltd. (“Jeffs’ Brands”), a newly incorporated entity, pursuant to which, among other things, the Company and Victor Hakmon transferred all their holdings in Pro and Purex to Jeffs’ Brands, in return for a consideration of Jeffs’ Brands ordinary shares that were issued respectively. | ||||||
Aggregate gross proceeds (in Dollars) | $ 15,500,000 | ||||||
Financial Statements [Member] | |||||||
General (Details) [Line Items] | |||||||
cash and cash equivalents (in Dollars) | $ 4,900,000 | ||||||
Gix Internet Ltd. [Member] | |||||||
General (Details) [Line Items] | |||||||
Holdings interests percentage | 38.03% | ||||||
Jeffs’ Brands Ltd.[Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 35.94% | ||||||
Parazero Technologies Ltd [Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 40.35% | ||||||
Parazero Technologies Ltd [Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 37.03% | ||||||
Polyrizon Ltd. [Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 35.06% | ||||||
Laminera Flow Optimization Ltd [Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 19.70% | ||||||
Elbit Imaging Ltd [Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 5.72% | ||||||
Automax Ltd [Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 6.46% | ||||||
ClearMind Medicine, Inc.[Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 5.77% | ||||||
SciSparc ltd [Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 1.60% | ||||||
Safee Cyber Technologies Ltd. [Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 2.35% | ||||||
Maris-Tech Ltd [Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 1.28% | ||||||
Colugo Systems Ltd [Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 0.97% | ||||||
Safe Foods, Inc. [Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 0.47% | ||||||
Tondo Smart Ltd [Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 0.67% | ||||||
Bubbles Intergroup Ltd [Member] | |||||||
General (Details) [Line Items] | |||||||
Ownership interest, percentage | 1.49% | ||||||
Bottom of range [member] | Gix Internet Ltd. [Member] | |||||||
General (Details) [Line Items] | |||||||
Share issued (in Shares) | 42.25 |
Significant Accounting Polici_3
Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of changes in accounting estimates [line items] | |
Voting rights | 20% |
Effective interest rate | 10% |
Percentage of salary rate | 8.33% |
Lease description | The amendments are effective for annual reporting periods beginning on or after 1 January 2023, with earlier application permitted. |
Significant Accounting Polici_4
Significant Accounting Policies (Details) - Schedule of straight-line method over the estimated useful life of the asset | 12 Months Ended |
Dec. 31, 2022 | |
Machinery and equipment [Member] | |
Significant Accounting Policies (Details) - Schedule of straight-line method over the estimated useful life of the asset [Line Items] | |
Machinery and equipment | 6 – 10 years (primarily 10) |
Computers and programs [Member] | |
Significant Accounting Policies (Details) - Schedule of straight-line method over the estimated useful life of the asset [Line Items] | |
Estimated useful life | 3 years |
Bottom of Range [Member] | Leasehold improvements and furniture [Member] | |
Significant Accounting Policies (Details) - Schedule of straight-line method over the estimated useful life of the asset [Line Items] | |
Estimated useful life | 7 years |
Top of Range [Member] | Leasehold improvements and furniture [Member] | |
Significant Accounting Policies (Details) - Schedule of straight-line method over the estimated useful life of the asset [Line Items] | |
Estimated useful life | 14 years |
Interest in Other Entities (Det
Interest in Other Entities (Details) ₪ / shares in Units, $ / shares in Units, $ in Millions | 1 Months Ended | 4 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Oct. 13, 2022 USD ($) | Oct. 02, 2022 | Sep. 07, 2022 shares | Sep. 01, 2022 USD ($) | Sep. 01, 2022 ILS (₪) | Aug. 03, 2022 USD ($) | Aug. 03, 2022 ILS (₪) | May 09, 2022 | May 03, 2022 USD ($) | Apr. 07, 2022 USD ($) | Mar. 06, 2022 USD ($) shares | Mar. 06, 2022 ILS (₪) shares | Feb. 02, 2022 USD ($) | Dec. 07, 2021 USD ($) $ / shares shares | Oct. 14, 2021 | Oct. 13, 2021 USD ($) | Oct. 13, 2021 ILS (₪) | Oct. 13, 2021 USD ($) | Jul. 06, 2021 | Jul. 05, 2021 USD ($) | Jul. 01, 2021 USD ($) | May 10, 2021 USD ($) | Apr. 08, 2021 USD ($) | Mar. 09, 2021 USD ($) shares | Feb. 04, 2021 USD ($) | Feb. 04, 2021 ILS (₪) | Feb. 02, 2021 USD ($) | Jan. 11, 2021 USD ($) $ / shares | Jan. 07, 2021 USD ($) | Oct. 14, 2020 | Oct. 14, 2020 USD ($) | Oct. 08, 2020 | Dec. 06, 2016 | Mar. 21, 2023 | Dec. 30, 2022 USD ($) | Dec. 22, 2022 USD ($) shares | Nov. 28, 2022 shares | Oct. 30, 2022 USD ($) | Oct. 26, 2022 USD ($) | Oct. 26, 2022 ILS (₪) | Aug. 30, 2022 USD ($) $ / shares shares | Aug. 28, 2022 USD ($) shares | Aug. 25, 2022 | Aug. 23, 2022 USD ($) | Aug. 23, 2022 ILS (₪) | May 31, 2022 ILS (₪) shares | May 25, 2022 shares | May 21, 2022 | Apr. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) shares | Mar. 20, 2022 USD ($) | Feb. 28, 2022 USD ($) $ / shares shares | Feb. 28, 2022 ILS (₪) shares | Feb. 22, 2022 USD ($) | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 21, 2021 USD ($) shares | Nov. 30, 2021 USD ($) | Nov. 23, 2021 | Oct. 31, 2021 USD ($) | Sep. 22, 2021 USD ($) | Aug. 25, 2021 USD ($) | Jul. 31, 2021 USD ($) | Jul. 23, 2021 USD ($) | Jun. 30, 2021 shares | Mar. 31, 2021 USD ($) shares | Mar. 25, 2021 | Mar. 22, 2021 USD ($) shares | Feb. 25, 2021 USD ($) $ / shares | Jan. 19, 2021 shares | Dec. 18, 2020 USD ($) | Dec. 31, 2019 | Jul. 19, 2019 | Nov. 28, 2017 | Mar. 29, 2017 | May 31, 2022 USD ($) | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2022 ILS (₪) ₪ / shares shares | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2021 ILS (₪) shares | Dec. 31, 2020 USD ($) shares | Dec. 31, 2019 | Dec. 31, 2022 ILS (₪) ₪ / shares shares | Dec. 25, 2022 USD ($) | Nov. 14, 2022 USD ($) $ / shares shares | Oct. 26, 2022 ILS (₪) | Oct. 18, 2022 USD ($) | Sep. 30, 2022 USD ($) | Sep. 24, 2022 USD ($) | Sep. 19, 2022 ILS (₪) | Sep. 14, 2022 USD ($) | Aug. 10, 2022 | Jul. 28, 2022 USD ($) | Jun. 21, 2022 | Jun. 16, 2022 USD ($) | Jun. 02, 2022 USD ($) | May 08, 2022 USD ($) | Mar. 30, 2022 shares | Mar. 11, 2022 USD ($) | Mar. 03, 2022 USD ($) | Feb. 17, 2022 shares | Feb. 03, 2022 | Jan. 31, 2022 USD ($) | Jan. 28, 2022 USD ($) | Jan. 28, 2022 AUD ($) | Jan. 27, 2022 USD ($) | Jan. 19, 2022 shares | Dec. 31, 2021 ILS (₪) shares | Nov. 11, 2021 | Jul. 31, 2020 USD ($) | ||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Voting right percentage | 35.27% | 38.03% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Voting right | 50% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock outstanding, pecentage | 2,235% | 2,235% | 1,613% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Remaining outstanding amount | $ 600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Eventer, description | Eventer completed a finance round of approximately USD 2,250 thousand (approximately NIS 7,300 thousand) from a group of 7 investors, in exchange for 146,637 shares, representing 20% of Eventer’s outstanding shares after consummation of the investment. As part of the investment agreement, Keshet Holdings LP (“Keshet”), one of the 7 investors, committed to provide Eventer with advertising services for USD 1,250 thousand (approximately NIS 4,000 thousand), over a period of 1 year, until June 30, 2022. The agreement further provided that the investment proceeds to be paid by Keshet are to be netted by the USD 1,250 thousand to be paid as consideration of the above-mentioned advertising services. Accordingly, the net amount Eventer raised in the finance round amounted to USD 1,000 thousand, with advertising services recorded as prepaid expense in the amount of USD 1,250 thousand. Eventer is not entitled to a refund in the event these advertising services are unutilized through the entire period until June 30, 2022. Following lack of usage of advertising services by Eventer till 30 June 2022 Eventer and Keshet agreed to extend the entitlement period till December 31, 2023, such that the original volume would be utilized. As the extension in time period does not entitle Eventer to additional advertisement services, the Company concluded that the fair value of the additional benefit represented by the extension is immaterial. Following the finance round, the Company’s holding in Eventer decreased to 47.69% of Eventer’s issued and outstanding share capital. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PPS percentage | 50% | 50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued (in Shares) | shares | 10 | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Companys holding | 46.21% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loaned amount | $ 250,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan interest percentage | 4% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discount Percentage | 20% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan agreement description | On August 25, 2022, the Company and Gix Internet signed an addendum to the Loan Agreement, effective as of July 1, 2022. Pursuant to the addendum, on November 2, 2022, the company received a total of NIS 1 million as repayment of the loan and the accrued interest up to that date. Repayment of the balance of the loan fund, in the amount of NIS 3 million, will be postponed until June 30, 2023. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Eventer recorded an expense | $ 29,000 | ₪ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | 10% | 10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net proceeds | 2 years | 2 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan agreement amount | $ 104,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Products | 80,000 | ₪ 280,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Development fees | $ 1,500,000 | ₪ 4,280,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues earned percentage | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreement with screenz cross media ltd description | the Board of Directors approved an amendment to the agreement between Eventer and Screenz effective September 30, 2021 (the “Effective Date”). As per the amendment, instead of USD 1,500, Eventer will pay in exchange for the license an aggregate amount of USD 1,800 thousand, and the repayment term is to be extended to a period of three years, in monthly instalments of approximately USD 50 thousand each. Eventer evaluated the change in the terms of the commitment in accordance with IFRS 9 and concluded that the change does constitute a material modification of the loan. As of September 30, 2021, the loan’s book value was USD 1,300 thousands and the fair value of the debt was valued at USD 1,415 thousand. The difference of USD 115 thousand was recorded as finance expenses. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
License total amount | $ 1,217,000 | $ 1,217,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value amount | $ 60,000 | 660,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt amount | 1,062,000 | ₪ 3,862,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advertising right | 402,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred offering costs | 470,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Salary | $ 10,000 | ₪ 33,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate percentage | 0.15% | 0.15% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected dividend percentage | 0% | 0% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility percentage | 47.02% | 47.02% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forecasted life | 10 years | 10 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invested an initial amount | $ 400,000 | $ 473,000 | ₪ 1,668,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recognized expenses | 124,000 | ₪ 418,000 | $ 347,000 | ₪ 1,123,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Grant estimated amount | 473,000 | 1,668,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded as expenses | 347,000 | ₪ 1,123,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Professional fee | 6,000 | ₪ 20,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jeffs’ brands ltd description | the Company entered into the Pro and Purex SPA. Pro and Purex (as defined in note 1) both are in the e-Commerce field and operate online stores for the sale of various consumer products on the Amazon Online Marketplace. Pursuant to the Pro and Purex SPA, the Company acquired 50.01% of Pro’s and 50.03% of Purex’ issued and outstanding share capital on a fully diluted basis through a combination of cash investments in the companies and acquisition of additional shares from the current shareholders of the two companies in consideration for the Company’s ADSs and a cash component. The Company agreed to invest an aggregate amount of USD 1,250 thousand in Pro and Purex, pay USD 150 thousand in cash consideration to the former stockholders, and issue up to USD 500 thousand worth of ADSs to the former stockholders of such companies subject to EBITDA milestones. On July 2021, and following EBITDA results the Company issued USD 71 thousand worth of ADSs.In addition, the companies’ former shareholders are entitled to additional milestone issuances of up to an aggregate USD 750 thousand in ADSs subject to the achievement by Pro and Purex of certain milestones throughout 2021. The transactions closed on January 4, 2021. Also, the Company agreed to financing arrangements including (i) providing financing by way of a stockholder loan of a principal amount equal to USD 250 thousand which may be extended up to an aggregate cap of USD 1 million of which the Company will finance 60% with the remaining 40% to be financed by the other Pro’s and Purex’ stockholders; and (ii) additional financing of up to a principal amount of USD 1 million, to finance the acquisition of additional online Amazon stores provided that such acquisition financing will constitute 80% of the applicable acquisition cost, with the remaining 20% to be financed by the other Pro’s and Purex’ stockholders. Subsequently, according to the terms of the Pro and Purex SPA, the Company entered into a loan and pledge agreement, effective January 5, 2021, with its majority owned subsidiaries Pro and Purex. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan amount | $ 940,000 | $ 914,000 | ₪ 50 | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 10% | 4% | 4% | 4% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount investment | $ 6,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage on shares issued | 35.94% | 1.28% | 1.28% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase monthly salary | $ 140,000 | ₪ 480,000 | $ 23,000 | ₪ 55,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial public offering share (in Shares) | shares | 3,717,473 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant to purchase (in Shares) | shares | 4.04 | 120,192 | 5.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
warrants share (in Shares) | shares | 425,912 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net issuance expenses | $ 4,000 | $ 137,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deducting issuance | $ 2,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued and outstanding share capital, percentage | 35.94% | 46.21% | 46.21% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ordinary shares (in Shares) | shares | 2,824,525 | 2,824,525 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant term | 5 years | 5 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Semi annual payments (in Shares) | shares | 120,192 | 120,192 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated revenues | 2.30% | 2.30% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding loans | $ 109,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ordinary shares (in Shares) | shares | 24,385 | 24,385 | 23,036 | [1] | 23,036 | [1] | 6,672 | [1] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10.99% | 10% | 10% | 42.69% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan agreement | $ 153 | $ 153,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate amount | $ 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest | 9.99% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate percentage | 9.99% | 10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional interest rate | 1% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ 125,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of amount | $ 31,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivate liability | 69,000 | $ 69,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third party warrants (in Shares) | shares | 30,048 | 30,048 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional interest percentage | 1% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants (in Shares) | shares | 30,048 | 30,048 | 91,743 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing rate | 3.25% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Provide for line of credit | $ 200,000 | $ 400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred offering costs | $ 836,000 | $ 836,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued (in Shares) | shares | 23,850,128 | 24,661,470 | 23,850,128 | 24,661,470 | 23,850,128 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of ordinary shares and incentive plan | On February 17, 2022, Jeffs’ Brands board of directors approved the issuance of bonus shares (equivalent to a stock dividend) on a basis of 664 (prior to adjustments for subsequent reverse share split) Ordinary Shares for each Ordinary Share issued and outstanding as of the close of business on February 17, 2022 (provided that any fractional shares be rounded down to the nearest whole number), pursuant to which holders of Jeffs’ Brands ordinary shares received 664 (prior to adjustments for subsequent reverse share split) ordinary shares for every one ordinary share held as of such date, resulting in an aggregate issuance by Jeffs’ Brands of 6,630,547 (prior to adjustments for subsequent reverse share split) Ordinary Shares on such date. | On February 17, 2022, Jeffs’ Brands board of directors approved the issuance of bonus shares (equivalent to a stock dividend) on a basis of 664 (prior to adjustments for subsequent reverse share split) Ordinary Shares for each Ordinary Share issued and outstanding as of the close of business on February 17, 2022 (provided that any fractional shares be rounded down to the nearest whole number), pursuant to which holders of Jeffs’ Brands ordinary shares received 664 (prior to adjustments for subsequent reverse share split) ordinary shares for every one ordinary share held as of such date, resulting in an aggregate issuance by Jeffs’ Brands of 6,630,547 (prior to adjustments for subsequent reverse share split) Ordinary Shares on such date. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Authorized share capital | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reverse shares | 43,567,567,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Authorized share capital | [2] | [2] | [2] | $ 2,893,125,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly fee | $ 16,500 | ₪ 57,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities offered amounted | ₪ | ₪ 425,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross proceeds percentage | 7% | 7% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total consideration of percentage | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreement term | 3% | 3% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advances to suppliers | 228,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lease percentage | 50% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount paid | $ 86,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding payable | $ 32,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Remaining useful life | 3 years | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lease term | 3 years | 3 years | 3 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Right of use assets | $ 138,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment agreement description | the Company signed an agreement with Gix Internet and its then wholly owned subsidiary Gix Media, for an investment of approximately USD 5 million (the “Investment Agreement”). The investment was subject to certain pre-conditions, which were met on September 3, 2019. As part of the investment, the Company received 729,508 ordinary shares of Gix Media, 2,168,675 ordinary shares of Gix Internet and 2,898,183 warrants to purchase 2,898,183 Gix Internet’s shares. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discount rate | 20% | 20% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase shares (in Shares) | shares | 2,898,183 | 2,898,183 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price (in New Shekels per share) | ₪ / shares | ₪ 5.25 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected term | 5 years 6 months | 5 years 6 months | 5 years | 3 years | 3 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional ordinary shares (in Shares) | shares | 33.17 | 6.46 | 6.46 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding shares, percentage | 70% | 70% | 70% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares purchased (in Shares) | shares | 1,318,426 | 1,318,426 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total consideration amount | $ 731,000 | ₪ 2,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interests increased, percentage | 38.03% | 213% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition Purchase price | $ 7,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income/loss | $ 2,300,000 | $ 460,000 | 162,000 | $ 35,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offered share units (in Shares) | shares | 3,450,800 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total expected consideration amount (in New Shekels) | ₪ | ₪ 5,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issued (in Shares) | shares | 155,427 | 324,675 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance amount | $ 66,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend amount | $ 1,698 | $ 445 | $ 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross proceeds | $ 9,680,000 | $ 9,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investors lent an aggregate | $ 69,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest percentage | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long term loan | $ 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan Period | 48 months | 48 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan interest rate | 3.20% | 3.20% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate amount of credit line | $ 3,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Internet aggregate amount | ₪ | ₪ 4,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net fair value of the assets and liabilities (in New Shekels) | ₪ | ₪ 3,230,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest percentage | 5.63% | 4% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private issuance (in Shares) | shares | 220 | 220 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bonds price (in New Shekels) | ₪ | ₪ 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bond total amount | $ 70 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sold tradeable automax bonds | $ 190,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company purchased | $ 2,000,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invested amount | $ 400,000 | $ 100,000 | $ 204,000 | $ 111,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offering discounted percentage | 25% | 25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding discounted percentage | 20% | 20% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk free interest rate percentage | 0.19% | 0.19% | 0.19% | 4.76% | 4.76% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fully diluted share capital, percentage | 47.69% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recognized and recorded as expenses | $ 0 | $ 91,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased additional shares (in Shares) | shares | 741 | 741 | 741 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invest an additional | $ 488,765,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of issued and outstanding share capital | 80% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash | $ 4,335 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invested additional amount | $ 100,000 | $ 134,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Holdings increased, percentage | 5.72% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend in total amount | $ 172 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price (in Dollars per share) | $ / shares | $ 2.3 | $ 4.16 | $ 2.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase percentage | 15% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost paid price per share (in Dollars per share) | $ / shares | 5.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward transaction per share (in Dollars per share) | $ / shares | $ 6.05 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued, percentage | 40.35% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invest an amount | $ 300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate gross proceeds | $ 15,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan agreement description | the loan principal of USD 375 thousand was received. | On July 9, 2021, the loan principal of USD 375 thousand was received. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan maturity date | On November 23, 2021, the loan agreement was amended to extend the maturity date of the loan to the earlier of (i) March 31, 2023, or (ii) the closing of an IPO of the Company. | On November 23, 2021, the loan agreement was amended to extend the maturity date of the loan to the earlier of (i) March 31, 2023, or (ii) the closing of an IPO of the Company. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity loan description | Based on Jeffs’ Brands management’s assessment, the amendment resulted in a significant modification to the loan in accordance with IFRS 9. As a result of the debt extinguishment, Jeffs’ Brands recorded a financial gain in the amount of USD 7 thousand. | Based on Jeffs’ Brands management’s assessment, the amendment resulted in a significant modification to the loan in accordance with IFRS 9. As a result of the debt extinguishment, Jeffs’ Brands recorded a financial gain in the amount of USD 7 thousand. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase Price [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price (in Dollars per share) | $ / shares | $ 6.05 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Buffalo undertook purchase percentage | 90% | 90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Remaining percentage | 18.45% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lease liabilities [member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Right of use assets | $ 141,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Safee will be entitled to receive [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayment loan interest rate percentage | 43.30% | 43.30% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Eventer will be entitled to receive [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayment loan interest rate percentage | 28.35% | 28.35% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SAFEE [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value amount | $ 302,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ordinary shares [member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued (in Shares) | shares | 1,307,027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
IPO Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration amount | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Algomizer [Member] | Warrants [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued (in Shares) | shares | 185,873 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jeffs’ Brands {Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued (in Shares) | shares | 1,765 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Authorized share capital | $ 5,352,281,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Algomizer Warrants [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares on acquisition (in Shares) | shares | 2,898,183 | 2,898,183 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bank Leumi [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Provide for line of credit | $ 1,000,000 | $ 2,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LIBOR [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest percentage | 3.45% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SOFR [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan interest rate | 3.52% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ScoutCam Inc. [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transferred and delivered | 100% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock representing percentage | 60% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Funding interest percentage | 28.06% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fair value (loss) gain on Investment | $ 11,465 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Profit and loss an additional gain | 97,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock outstanding, pecentage | 27.02% | 27.02% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration amount | $ 11,843,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected dividend percentage | 28.06% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock par value (in Dollars per share) | $ / shares | $ 4.16 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of amount | $ 31,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities offered amounted | $ 121,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invest amount | $ 10,735,000 | $ 11,843,000 | $ 10,735,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additionally sales achievement | $ 674,362,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ScoutCam Inc. [Member] | Warrants A [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net issuance expenses | $ 13,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ScoutCam Inc. [Member] | Investors [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Undertook to issue certain investors (in Shares) | shares | 2,469,156 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate purchase price | $ 20,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Eventer [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase agreement, description | Pursuant to the share purchase agreement, the Company invested USD 750 thousand and was issued an aggregate of 325,270 ordinary shares of Eventer, representing 58.7% of the issued and outstanding share capital (50.01% of Eventer’s issued and outstanding share capital on a fully diluted basis). The share purchase agreement provides that the Company will invest an additional USD 250 thousand in a second tranche, subject to Eventer achieving certain post-closing EBITDA based milestones during the fiscal years 2021 through 2023, or the “Milestones”. The Milestones will be examined in each of the years 2021 through 2023. The fair value of the earn-out was calculated by using a Monte Carlo Simulation. According to this model, the fair value of the earn-out was NIS 233 thousand (USD 69 thousand) as of October 14, 2020. As of December 31, 2022, the Milestones have not been achieved and the fair value of the earn-out was determined to be immaterial.In addition, the Company granted a loan to Eventer in the amount of USD 250 thousand (“Initial Advance”), and the loan was valued at USD 204 thousand. According to the loan agreement, the Company committed to lend up to USD 1,250 thousand to Eventer through advances of funds upon Eventer’s request and subject to the Company’s approval. Advances extended under the Loan Agreement may be repaid and borrowed, in part or in full, from time to time. The Initial Advance should be repaid in twenty-four equals monthly instalments, commencing on the first anniversary of the Loan Agreement. Other advances extended under the Loan Agreement will be repaid immediately following, and in no event later than thirty days following the completion of the project or purpose for which they were made. Outstanding principal balances on the advances will bear interest at a rate equal to the higher of (i) 4% per year, or (ii) the interest rate determined by the Israeli Income Tax Ordinance [New Version] 5721-1961 and the rules and regulation promulgated thereunder. Interest payments will be made on a monthly basis. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued (in Shares) | shares | 65,310 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares received (in Shares) | shares | 19,518 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan agreement with Safee Cyber Technologies Inc. [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan agreement description | the Company and Eventer signed a loan agreement with Safee Cyber Technologies Inc. (“Safee”). For more details about the Company’s investment in Safee, see note 4P.According to the loan agreement, the Company loaned Safee an amount of NIS 250 thousand (USD 74 thousand) and Eventer loaned Safee an amount of NIS 300 thousand (USD 89 thousand) consisting of NIS 100 thousand (USD 30 thousand) in cash and by assigning to Screenz NIS 200 thousand (USD 59 thousand) of the unutilized advertising rights Eventer had purchased from Keshet in March 2021 as mentioned above. Additionally, for the purpose of loan repayment, Eventer’s loan will be considered as NIS 200 thousand (USD 59 thousand) in total. | the Company and Eventer signed a loan agreement with Safee Cyber Technologies Inc. (“Safee”). For more details about the Company’s investment in Safee, see note 4P.According to the loan agreement, the Company loaned Safee an amount of NIS 250 thousand (USD 74 thousand) and Eventer loaned Safee an amount of NIS 300 thousand (USD 89 thousand) consisting of NIS 100 thousand (USD 30 thousand) in cash and by assigning to Screenz NIS 200 thousand (USD 59 thousand) of the unutilized advertising rights Eventer had purchased from Keshet in March 2021 as mentioned above. Additionally, for the purpose of loan repayment, Eventer’s loan will be considered as NIS 200 thousand (USD 59 thousand) in total. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shrem Zilberman Group Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of warrants | $ 480,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ordinary share price | $ 10,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share based compensation grants [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price per share (in New Shekels per share) | ₪ / shares | ₪ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Round Robin Ltd. [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate percentage | 0.15% | 0.15% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected dividend percentage | 0% | 0% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility percentage | 47.02% | 47.02% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forecasted life | 10 years | 10 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options purchase shares (in Shares) | shares | 29,944 | 29,944 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price per share (in New Shekels per share) | ₪ / shares | ₪ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mr. Roee Grinblat [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate percentage | 0.49% | 0.49% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected dividend percentage | 0% | 0% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility percentage | 47.02% | 47.02% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forecasted life | 5 years | 5 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Grant shares percentage | 2% | 2% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price percentage | 50% | 50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public offering percentage | 50% | 50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SciSparc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, description | The value of this grant was estimated at approximately NIS 277 thousand (USD 83 thousand). For the year ended December 31, 2021, approximately NIS 186 thousand (USD 58 thousand) were recognized and recorded as expense. During 2022 Eventer reversed the expense due to the fact that the offering did not occur. On February 4, 2021, Eventer’s Board of Directors approved a contractual agreement with Mr. Liron Carmel as the Chairman of the Board of Directors of Eventer. According to the agreement, the engagement between Eventer and Mr. Carmel commenced on January 1, 2021. The monthly professional fee will be approximately NIS 20 thousand (USD 6 thousand). In addition to the professional fee, Eventer granted options to purchase a quantity of ordinary shares, that will constitute approximately 2% of the Eventer’s issued and outstanding ordinary shares immediately after the public offering is completed, as options grant. The options shall vest over a period of three years, commencing on engagement date. The exercise price of 50% of the options granted will be equal to the public offering price, and 50% will equal to the share price of the capital raising round that preceded the public offering price. The fair value of the options granted is estimated on the grant date, using the Black-Scholes Model, according to the following parameters: (a) risk-free interest rate – 0.49%; (b) expected dividend – 0%; (c) expected volatility – 47.02%; (d) forecasted life – 5 years. The value of this grant was estimated at approximately NIS 277 thousand (USD 86 thousand). For the year ended December 31, 2021, approximately NIS 186 thousand (USD 58 thousand) were recognized and recorded as expense. During 2022 Eventer reversed the expense due to the fact that the offering did not occur. On February 4, 2021, Eventer’s Board of Directors approved a contractual agreement with Mr. Eli Uzan as Eventer’s President and Director. According to the agreement, the engagement between Eventer and Mr. Uzan commenced on January 1, 2021. The monthly professional fee will be approximately NIS 20 thousand (USD 6 thousand). In addition to the professional fee, Eventer granted options to purchase a quantity of ordinary shares, that will constitute approximately 2% of Eventer issued and outstanding ordinary shares immediately after the public offering is completed, as options grant. The options shall vest over a period of three years commencing on engagement date with 1/12 of such options vesting at the end of each subsequent three-month period following the grant. The exercise price of 50% of the options granted will be equal to the public offering price, and 50% will equal the share price of the capital raising round that preceded the public offering. The fair value of the option granted is estimated on the grant date, using the Black-Scholes Model, according to the following parameters: (a) risk-free interest rate – 0.49%; (b) expected dividend – 0%; (c) expected volatility – 47.02%; (d) forecasted life – 5 years. The fair value of this grant was estimated at approximately NIS 219 thousand (USD 68 thousand). For the year ended December 31, 2021, approximately NIS 147 thousand (USD 46 thousand) were recognized and recorded as expenses. During 2022 Eventer reversed the expense due to the fact that the offering did not occur. On December 30, 2021, Eventer’s board of directors approved a grant of NIS 8 thousand (USD 2 thousand) to Eventer’s chief executive officer as a bonus for the results and achievements of Eventer for the year 2021. Additionally, Eventer’s board of directors approved a bonus of USD 90 thousand to the chief executive officer which shall be paid in 9 equal instalments per month commencing January 2022. During April 2022, Eventer’s board of directors approved a salary increase to Eventer’s chief executive officer to NIS 50 thousand (USD 15 thousand) per month, effective as of January 1, 2022. | The value of this grant was estimated at approximately NIS 277 thousand (USD 83 thousand). For the year ended December 31, 2021, approximately NIS 186 thousand (USD 58 thousand) were recognized and recorded as expense. During 2022 Eventer reversed the expense due to the fact that the offering did not occur. On February 4, 2021, Eventer’s Board of Directors approved a contractual agreement with Mr. Liron Carmel as the Chairman of the Board of Directors of Eventer. According to the agreement, the engagement between Eventer and Mr. Carmel commenced on January 1, 2021. The monthly professional fee will be approximately NIS 20 thousand (USD 6 thousand). In addition to the professional fee, Eventer granted options to purchase a quantity of ordinary shares, that will constitute approximately 2% of the Eventer’s issued and outstanding ordinary shares immediately after the public offering is completed, as options grant. The options shall vest over a period of three years, commencing on engagement date. The exercise price of 50% of the options granted will be equal to the public offering price, and 50% will equal to the share price of the capital raising round that preceded the public offering price. The fair value of the options granted is estimated on the grant date, using the Black-Scholes Model, according to the following parameters: (a) risk-free interest rate – 0.49%; (b) expected dividend – 0%; (c) expected volatility – 47.02%; (d) forecasted life – 5 years. The value of this grant was estimated at approximately NIS 277 thousand (USD 86 thousand). For the year ended December 31, 2021, approximately NIS 186 thousand (USD 58 thousand) were recognized and recorded as expense. During 2022 Eventer reversed the expense due to the fact that the offering did not occur. On February 4, 2021, Eventer’s Board of Directors approved a contractual agreement with Mr. Eli Uzan as Eventer’s President and Director. According to the agreement, the engagement between Eventer and Mr. Uzan commenced on January 1, 2021. The monthly professional fee will be approximately NIS 20 thousand (USD 6 thousand). In addition to the professional fee, Eventer granted options to purchase a quantity of ordinary shares, that will constitute approximately 2% of Eventer issued and outstanding ordinary shares immediately after the public offering is completed, as options grant. The options shall vest over a period of three years commencing on engagement date with 1/12 of such options vesting at the end of each subsequent three-month period following the grant. The exercise price of 50% of the options granted will be equal to the public offering price, and 50% will equal the share price of the capital raising round that preceded the public offering. The fair value of the option granted is estimated on the grant date, using the Black-Scholes Model, according to the following parameters: (a) risk-free interest rate – 0.49%; (b) expected dividend – 0%; (c) expected volatility – 47.02%; (d) forecasted life – 5 years. The fair value of this grant was estimated at approximately NIS 219 thousand (USD 68 thousand). For the year ended December 31, 2021, approximately NIS 147 thousand (USD 46 thousand) were recognized and recorded as expenses. During 2022 Eventer reversed the expense due to the fact that the offering did not occur. On December 30, 2021, Eventer’s board of directors approved a grant of NIS 8 thousand (USD 2 thousand) to Eventer’s chief executive officer as a bonus for the results and achievements of Eventer for the year 2021. Additionally, Eventer’s board of directors approved a bonus of USD 90 thousand to the chief executive officer which shall be paid in 9 equal instalments per month commencing January 2022. During April 2022, Eventer’s board of directors approved a salary increase to Eventer’s chief executive officer to NIS 50 thousand (USD 15 thousand) per month, effective as of January 1, 2022. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued and outstanding share capital, percentage | 1.60% | 1.60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of shares (in Shares) | shares | 49,157 | 49,157 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invest amount | 911,000 | $ 659,000 | 911,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options to purchase shares | 150,000 | 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Valuation amount | 16,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased additional shares (in Shares) | shares | 7,971 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price (in Dollars per share) | $ / shares | $ 5.02 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Holds shares (in Shares) | shares | 108,814 | 108,814 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mr. Victor Hacmon [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value amount | $ 32,202,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
IPO Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock par value (in Dollars per share) | $ / shares | $ 4.04 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant to purchase (in Shares) | shares | 2.02 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pro Loan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan amount | $ 3,760,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mr. Hakmon and L.I.A [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding loans | 4,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pure Capital Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding loans | $ 940,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ordinary shares (in Shares) | shares | 1,463,619 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third parties loans [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivate liability | 69,000 | 69,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jeffs’ Brands {Member] | Loan Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity loan description | the loan agreement was amended to extend the maturity date of the loan to the earlier of (i) March 31, 2023, or (ii) the closing of an IPO of the Company. Based on Jeffs’ Brands management’s assessment, the amendment resulted in a significant modification to the loan in accordance with IFRS 9. As a result of the debt extinguishment, Jeffs’ Brands recorded a financial gain in the amount of USD 7 thousand. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jeffs’ Brands IPO [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred offering costs | $ 366,000 | 366,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gix internet [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued (in Shares) | shares | 3,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional ordinary shares (in Shares) | shares | 33.17 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares percentage | 42.25% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | ₪ | ₪ 3,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan Period | 48 months | 48 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan interest rate | 2.92% | 2.92% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gix Media [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage on shares issued | 78% | 78% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Provide for line of credit | $ 3,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding shares, percentage | 78% | 78% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | $ 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan Period | 48 years | 48 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan interest rate | 4.12% | 4.12% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cortex Media Group Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage on shares issued | 78% | 78% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscription agreement description | the Company entered into a subscription agreement with ClearMind, for a private placement in which ClearMind raised approximately CAD 1.6 million (USD 1.25 million) (“Subscription Agreement”). Pursuant to the Subscription Agreement ClearMind issued to the Company 1,987,344 units, at a subscription price of CAD 0.80 (USD 0.63) per unit. Each unit is comprised of one Common Share and one warrant to purchase one Common Share of ClearMind. Each warrant will be exercisable for a period of 18 months into one additional Common Share at an exercise price of CAD 2.00 per share. CAD 960 thousand (USD 750 thousand) of the investment amount was paid by the Company in cash and CAD 640 thousand (USD 500 thousand) of the investment amount was paid through the issuance of the Company’s ordinary shares, at a price per share of USD 1.20. The Company issued to ClearMind 416,666 shares. The Company’s holdings in ClearMind’s issued and outstanding shares were 5.02%. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ViewBix Inc. [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage on shares issued | 58% | 58% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding shares, percentage | 58% | 58% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Board Of Directors [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issued (in Shares) | shares | 260,492 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance amount | $ 110,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gix Internet Directors [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issued (in Shares) | shares | 24 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Polyrizon [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Development fees | $ 2,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross proceeds | $ 2,020,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment, percentage | 37.03% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate proceeds amount | 550,000 | 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invested amount | $ 203,000 | 110,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity financing amount | $ 753,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gix [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan agreement description | The loan will be repaid in full, together with the accrued interest, in one (1) instalment upon the earliest of: (i) the closing of a rights offering by Gix Internet for an aggregate amount of at least NIS 12,000 thousand (approximately USD 3,858 thousand); or (ii) June 30, 2022. | The loan will be repaid in full, together with the accrued interest, in one (1) instalment upon the earliest of: (i) the closing of a rights offering by Gix Internet for an aggregate amount of at least NIS 12,000 thousand (approximately USD 3,858 thousand); or (ii) June 30, 2022. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Internet aggregate amount | $ 1,240,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Matomy [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of shares (in Shares) | shares | 11,000,000 | 2,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Decreased to issued and outstanding share capital | 4.73% | 4.73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total gain | 2,025,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased additional shares in the amount | $ 280,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exchange percentage | 100% | 100% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Parazero Technologies Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate amount | $ 625,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invested amount | 18,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offering discounted percentage | 20% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invest amount | $ 976,000 | $ 1,595,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash | $ 6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pre-money valuation | $ 10,000,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Received amount | $ 18,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price per each share increased percentage | 50% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercisable shares (in Shares) | shares | 51,689 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trigger event shares (in Shares) | shares | 50,139 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value warrants | $ 25,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Holdings issued and outstanding shares percentage | 40.35% | 40.35% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Received amount | $ 1,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment amount | $ 521,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Parazero withdrew amount | $ 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of loan amount | $ 391,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Charging Robotics Ltd. [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate percentage | 0.85% | 0.85% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected dividend percentage | 0% | 0% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility percentage | 85% | 85% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forecasted life | 4 years 5 months 8 days | 4 years 5 months 8 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration amount | $ 75,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invest amount | $ 150,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options to purchase shares | 15 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fully diluted share capital, percentage | 15% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Valuation amount | $ 150,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan principal amount | $ 60,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional Amount | $ 340,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revoltz Ltd.[Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invested an initial amount | $ 250,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued and outstanding share capital, percentage | 19.99% | 19.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration ordinary shares (in Shares) | shares | 19,990 | 19,990 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invest an additional | $ 400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of issued and outstanding share capital | 37.50% | 37.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fuel Doctor’s [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revoltz [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate amount | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pre-money valuation | 7,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate value | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Elbit Imaging Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Profit and loss an additional gain | $ 104,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding shares, percentage | 5.12% | 5.12% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invest amount | $ 660,000 | $ 975,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total purchased | $ 1,060,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Buffalo Investments Ltd. [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options to purchase shares | 150,000 | 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Buffalo Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration ordinary shares (in Shares) | shares | 150,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant per share (in Dollars per share) | $ / shares | $ 0.72 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid transactions | $ 72,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase percentage | 85% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fuel Doctor Holdings Inc. [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration amount | $ 262,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased shares (in Shares) | shares | 90,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued and outstanding shares, percentage | 35.06% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimal liabilities | $ 5,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Laminera Flow Optimization Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase shares (in Shares) | shares | 3,401 | 3,401 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration amount | $ 126,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invest amount | $ 1,333,000 | $ 1,176,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash | $ 1,105,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued and outstanding shares, percentage | 11.18% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased of shares (in Shares) | shares | 6,355 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share consideration amount | 400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain of income loss and other comprehensive income loss | $ 507,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bear annual interest percentage | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Laminera Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issued (in Shares) | shares | 7,028 | 7,028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued and outstanding shares, percentage | 19.70% | 19.70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ClearMind Medicine, Inc.[Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares received (in Shares) | shares | 44,829 | 44,829 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public offering shares (in Shares) | shares | 1,153,847 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public offering price per share (in Dollars per share) | $ / shares | $ 6.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate gross proceeds | $ 7,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants shares | $ 2,241,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GERD IP Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net issuance expenses | 300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invested amount | $ 5,770 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Received compensation | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net amount received | $ 494,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Safee Cyber Technologies Ltd. [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invested additional amount | $ 400,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fully diluted shares capital, percentage | 2.35% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Top of range [member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly payments for license | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase monthly salary | ₪ | ₪ 80,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bottom of range [member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly payments for license | $ 25,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded as expenses | $ 124,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase monthly salary | $ 24,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate amount | $ 14,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Parazero Technologies Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest in Other Entities (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price (in Dollars per share) | $ / shares | $ 5.9834 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] Share and per share data in these financial statements have been retrospectively adjusted, for all periods presented, to reflect a number of shares that is equivalent to the number of shares of the Company post the Reverse Split (see note 14a(7)). Share and per share data in these financial statements have been retrospectively adjusted, for all periods presented, to reflect a number of shares that is equivalent to the number of shares of the Company post the Reverse Split (see note 14a(7)). |
Interest in Other Entities (D_2
Interest in Other Entities (Details) - Schedule of general information | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Jeffs’ Brands Ltd. [Member] | ||
Interest in Other Entities (Details) - Schedule of general information [Line Items] | ||
Main place of the business | Israel | Israel |
Ownership rights held by non-controlling interest | 64.06% | 49.97% |
Eventer Ltd. [Member] | ||
Interest in Other Entities (Details) - Schedule of general information [Line Items] | ||
Main place of the business | Israel | Israel |
Ownership rights held by non-controlling interest | 53.79% | 52.31% |
Charging Robotics Ltd. [Member] | ||
Interest in Other Entities (Details) - Schedule of general information [Line Items] | ||
Main place of the business | Israel | Israel |
Ownership rights held by non-controlling interest | ||
GERD IP Inc. [Member] | ||
Interest in Other Entities (Details) - Schedule of general information [Line Items] | ||
Main place of the business | USA | USA |
Ownership rights held by non-controlling interest | 10% | 10% |
Gix Internet Ltd. [Member] | ||
Interest in Other Entities (Details) - Schedule of general information [Line Items] | ||
Main place of the business | Israel | |
Ownership rights held by non-controlling interest | 57.75% |
Interest in Other Entities (D_3
Interest in Other Entities (Details) - Schedule of statement of financial position - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Eventer Ltd. [Member] | |||
Interest in Other Entities (Details) - Schedule of statement of financial position [Line Items] | |||
Current assets | [1] | $ 1,829 | $ 3,469 |
Non-current assets | [1] | 1,379 | 1,521 |
Current liabilities | [1] | 2,766 | 3,571 |
Non-current liabilities | [1] | 476 | 711 |
Equity | [1] | (34) | 708 |
Jeffs’ Brands Ltd. [Member] | |||
Interest in Other Entities (Details) - Schedule of statement of financial position [Line Items] | |||
Current assets | 11,033 | 2,022 | |
Non-current assets | 4,743 | 5,390 | |
Current liabilities | 5,133 | 2,211 | |
Non-current liabilities | 98 | 3,948 | |
Equity | 10,545 | 1,253 | |
Gix internet [Member] | |||
Interest in Other Entities (Details) - Schedule of statement of financial position [Line Items] | |||
Current assets | [1] | 26,481 | 23,145 |
Non-current assets | [1] | 16,549 | 19,191 |
Current liabilities | [1] | 29,529 | 26,832 |
Non-current liabilities | [1] | 4,127 | 6,543 |
Equity | [1] | 9,374 | 8,960 |
Equity attributable to Gix shareholders | [1] | 4,804 | 4,130 |
Non-controlling interests | [1] | 4,570 | 4,830 |
ScoutCam Inc. [Member] | |||
Interest in Other Entities (Details) - Schedule of statement of financial position [Line Items] | |||
Current assets | 14,117 | 20,212 | |
Non-current assets | 2,778 | 3,334 | |
Current liabilities | 4,187 | 1,309 | |
Non-current liabilities | 2,550 | 2,621 | |
Equity | 10,158 | $ 19,616 | |
Parazeo [Member] | |||
Interest in Other Entities (Details) - Schedule of statement of financial position [Line Items] | |||
Current assets | 1,438 | ||
Non-current assets | 98 | ||
Current liabilities | 2,422 | ||
Non-current liabilities | 772 | ||
Equity | (1,658) | ||
Laminera [Member] | |||
Interest in Other Entities (Details) - Schedule of statement of financial position [Line Items] | |||
Current assets | 193 | ||
Non-current assets | 748 | ||
Current liabilities | 420 | ||
Non-current liabilities | 40 | ||
Equity | $ 481 | ||
[1] Translated according to the exchange rate at the date of each statement of financial position. |
Interest in Other Entities (D_4
Interest in Other Entities (Details) - Schedule of comprehensive income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 10 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2021 | [2] | Dec. 31, 2021 | [2] | Dec. 31, 2022 | Feb. 28, 2022 | [1] | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Interest in Other Entities (Details) - Schedule of comprehensive income [Line Items] | |||||||||||||
Total comprehensive income (loss) | $ 913 | $ (733) | $ (1,905) | ||||||||||
Net loss | $ (10,208) | $ 4,046 | $ (6,850) | ||||||||||
Eventer Ltd [Member] | |||||||||||||
Interest in Other Entities (Details) - Schedule of comprehensive income [Line Items] | |||||||||||||
Revenue | 2,465 | 1,185 | [1] | $ 40 | |||||||||
Net loss | (1,316) | (2,612) | [1] | (490) | |||||||||
Jeffs’ Brands Ltd. [Member] | |||||||||||||
Interest in Other Entities (Details) - Schedule of comprehensive income [Line Items] | |||||||||||||
Revenue | 5,859 | 6,509 | |||||||||||
Net loss | (1,134) | (1,540) | |||||||||||
Gix internet [Member] | |||||||||||||
Interest in Other Entities (Details) - Schedule of comprehensive income [Line Items] | |||||||||||||
Revenue | 83,532 | 12,193 | 44,827 | ||||||||||
Net profit (loss) for the period | 414 | (438) | (1,510) | ||||||||||
Other comprehensive income (loss) | 499 | $ (295) | $ (396) | ||||||||||
ScoutCam [Member] | |||||||||||||
Interest in Other Entities (Details) - Schedule of comprehensive income [Line Items] | |||||||||||||
Revenue | $ 24 | $ 363 | 665 | 491 | |||||||||
Net loss | $ (1,606) | $ (7,381) | $ (6,575) | $ (4,667) | |||||||||
Parazeo [Member] | |||||||||||||
Interest in Other Entities (Details) - Schedule of comprehensive income [Line Items] | |||||||||||||
Revenue | 514 | ||||||||||||
Net loss | (1,205) | ||||||||||||
Laminera [Member] | |||||||||||||
Interest in Other Entities (Details) - Schedule of comprehensive income [Line Items] | |||||||||||||
Revenue | |||||||||||||
Net loss | $ (689) | ||||||||||||
[1]Translated according to the average exchange rates for each period.[2]ScoutCam was deconsolidated on March 31, 2021, and the investment was accounted for as an equity method investment from April 1, 2021 (refer to note 4C). |
Interest in Other Entities (D_5
Interest in Other Entities (Details) - Schedule of cash flows - USD ($) $ in Thousands | 3 Months Ended | 10 Months Ended | 12 Months Ended | ||||
Mar. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |||
Interest in Other Entities (Details) - Schedule of cash flows [Line Items] | |||||||
Loss from exchange differences on cash and cash equivalents | $ (127) | ||||||
Eventer Ltd. [Member] | |||||||
Interest in Other Entities (Details) - Schedule of cash flows [Line Items] | |||||||
Cash flow used in operating activities | $ (347) | $ (16) | $ 407 | [1] | |||
Cash flow used in investing activities | 52 | (34) | (370) | [1] | |||
Cash flow from (used in) financing activities | 1,032 | (163) | 703 | [1] | |||
Gain (losses) from exchange differences on cash and cash equivalents | (215) | ||||||
Net increase (decrease) in cash and cash equivalents | $ 737 | (428) | 740 | [1] | |||
Jeffs’ Brands Ltd. [Member] | |||||||
Interest in Other Entities (Details) - Schedule of cash flows [Line Items] | |||||||
Cash flow used in operating activities | (4,823) | (863) | |||||
Cash flow used in investing activities | (41) | (4,730) | |||||
Cash flow from (used in) financing activities | 12,611 | 5,695 | |||||
Net increase (decrease) in cash and cash equivalents | $ 7,747 | $ 102 | |||||
Gix internet [Member] | |||||||
Interest in Other Entities (Details) - Schedule of cash flows [Line Items] | |||||||
Cash flow used in operating activities | [1] | 4,232 | |||||
Cash flow used in investing activities | [1] | 13 | |||||
Cash flow from (used in) financing activities | [1] | (3,309) | |||||
Net increase (decrease) in cash and cash equivalents | [1] | $ 809 | |||||
ScoutCam [Member] | |||||||
Interest in Other Entities (Details) - Schedule of cash flows [Line Items] | |||||||
Cash flow used in operating activities | $ (774) | ||||||
Cash flow used in investing activities | (117) | ||||||
Cash flow from (used in) financing activities | 10,281 | ||||||
Net increase (decrease) in cash and cash equivalents | $ 9,378 | ||||||
[1]Translated according to the average exchange rates for each period. |
Interest in Other Entities (D_6
Interest in Other Entities (Details) - Schedule of non-controlling interest - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Interest in Other Entities (Details) - Schedule of non-controlling interest [Line Items] | ||
Balance of Non-controlling interest | $ 15,548 | $ 2,243 |
Eventer [Member] | ||
Interest in Other Entities (Details) - Schedule of non-controlling interest [Line Items] | ||
Balance of Non-controlling interest | 721 | 1,136 |
Jeffs’ Brands [Member] | ||
Interest in Other Entities (Details) - Schedule of non-controlling interest [Line Items] | ||
Balance of Non-controlling interest | 7,199 | 965 |
Charging Robotics [Member] | ||
Interest in Other Entities (Details) - Schedule of non-controlling interest [Line Items] | ||
Balance of Non-controlling interest | 91 | 91 |
Gix Internet [Member] | ||
Interest in Other Entities (Details) - Schedule of non-controlling interest [Line Items] | ||
Balance of Non-controlling interest | 7,480 | |
Gerd IP [Member] | ||
Interest in Other Entities (Details) - Schedule of non-controlling interest [Line Items] | ||
Balance of Non-controlling interest | $ 57 | $ 51 |
Interest in Other Entities (D_7
Interest in Other Entities (Details) - Schedule of profit (loss) attributed to non-controlling interest - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Interest in Other Entities (Details) - Schedule of profit (loss) attributed to non-controlling interest [Line Items] | ||
Profit (loss) attributed to non-controlling interest | $ (393) | $ (2,748) |
ScoutCam [Member] | ||
Interest in Other Entities (Details) - Schedule of profit (loss) attributed to non-controlling interest [Line Items] | ||
Profit (loss) attributed to non-controlling interest | (892) | |
Eventer [Member] | ||
Interest in Other Entities (Details) - Schedule of profit (loss) attributed to non-controlling interest [Line Items] | ||
Profit (loss) attributed to non-controlling interest | (691) | (1,112) |
Jeff Brands [Member] | ||
Interest in Other Entities (Details) - Schedule of profit (loss) attributed to non-controlling interest [Line Items] | ||
Profit (loss) attributed to non-controlling interest | (396) | (795) |
Gerd IP [Member] | ||
Interest in Other Entities (Details) - Schedule of profit (loss) attributed to non-controlling interest [Line Items] | ||
Profit (loss) attributed to non-controlling interest | 7 | 51 |
Gix Internet [Member] | ||
Interest in Other Entities (Details) - Schedule of profit (loss) attributed to non-controlling interest [Line Items] | ||
Profit (loss) attributed to non-controlling interest | $ 687 |
Interest in Other Entities (D_8
Interest in Other Entities (Details) - Schedule of total investment according to the equity method - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Interest in Other Entities (Details) - Schedule of total investment according to the equity method [Line Items] | ||
Total | $ 11,892 | $ 17,240 |
ScoutCam (note 3C) [Member] | ||
Interest in Other Entities (Details) - Schedule of total investment according to the equity method [Line Items] | ||
Total | 9,375 | 10,735 |
Gix Internet (note XX) [Member] | ||
Interest in Other Entities (Details) - Schedule of total investment according to the equity method [Line Items] | ||
Total | 4,867 | |
Parazero (note XX) [Member] | ||
Interest in Other Entities (Details) - Schedule of total investment according to the equity method [Line Items] | ||
Total | 976 | |
Laminera (note XX) [Member] | ||
Interest in Other Entities (Details) - Schedule of total investment according to the equity method [Line Items] | ||
Total | 1,176 | |
Polyrizon (note 3H) [Member] | ||
Interest in Other Entities (Details) - Schedule of total investment according to the equity method [Line Items] | ||
Total | 214 | 447 |
Elbit imaging (note XX) [Member] | ||
Interest in Other Entities (Details) - Schedule of total investment according to the equity method [Line Items] | ||
Total | 975 | |
Revoltz (note 3I) [Member] | ||
Interest in Other Entities (Details) - Schedule of total investment according to the equity method [Line Items] | ||
Total | $ 151 | $ 216 |
Interest in Other Entities (D_9
Interest in Other Entities (Details) - Schedule of summarizes the total share of loss (profit) of investments according to the equity method - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Interest in Other Entities (Details) - Schedule of summarizes the total share of loss (profit) of investments according to the equity method [Line Items] | ||
Total share of loss (profit) of investments | $ 2,659 | $ 2,149 |
ScoutCam [Member] | ||
Interest in Other Entities (Details) - Schedule of summarizes the total share of loss (profit) of investments according to the equity method [Line Items] | ||
Total share of loss (profit) of investments | 1,360 | 1,401 |
Automax [Member] | ||
Interest in Other Entities (Details) - Schedule of summarizes the total share of loss (profit) of investments according to the equity method [Line Items] | ||
Total share of loss (profit) of investments | (275) | |
Gix internet [Member] | ||
Interest in Other Entities (Details) - Schedule of summarizes the total share of loss (profit) of investments according to the equity method [Line Items] | ||
Total share of loss (profit) of investments | 215 | 822 |
Parazero [Member] | ||
Interest in Other Entities (Details) - Schedule of summarizes the total share of loss (profit) of investments according to the equity method [Line Items] | ||
Total share of loss (profit) of investments | 615 | |
Laminera [Member] | ||
Interest in Other Entities (Details) - Schedule of summarizes the total share of loss (profit) of investments according to the equity method [Line Items] | ||
Total share of loss (profit) of investments | 157 | |
Polyrizon [Member] | ||
Interest in Other Entities (Details) - Schedule of summarizes the total share of loss (profit) of investments according to the equity method [Line Items] | ||
Total share of loss (profit) of investments | 234 | 74 |
Elbit Imaging [Member] | ||
Interest in Other Entities (Details) - Schedule of summarizes the total share of loss (profit) of investments according to the equity method [Line Items] | ||
Total share of loss (profit) of investments | 36 | 83 |
Revoltz [Member] | ||
Interest in Other Entities (Details) - Schedule of summarizes the total share of loss (profit) of investments according to the equity method [Line Items] | ||
Total share of loss (profit) of investments | $ 42 | $ 44 |
Interest in Other Entities (_10
Interest in Other Entities (Details) - Schedule of summarize the Company’s rights in share capital and voting rights | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Interest in Other Entities (Details) - Schedule of summarize the Company’s rights in share capital and voting rights [Line Items] | ||
Main place of the business | Israel | |
Company rights in share capital and voting rights | 28.63% | |
Parazero [Member] | ||
Interest in Other Entities (Details) - Schedule of summarize the Company’s rights in share capital and voting rights [Line Items] | ||
Main place of the business | Israel | |
Company rights in share capital and voting rights | 40.35% | |
Laminera [Member] | ||
Interest in Other Entities (Details) - Schedule of summarize the Company’s rights in share capital and voting rights [Line Items] | ||
Main place of the business | Israel | |
Company rights in share capital and voting rights | 19.70% | |
Polyrizon [Member] | ||
Interest in Other Entities (Details) - Schedule of summarize the Company’s rights in share capital and voting rights [Line Items] | ||
Main place of the business | Israel | Israel |
Company rights in share capital and voting rights | 37.03% | 36.81% |
ScoutCam [Member] | ||
Interest in Other Entities (Details) - Schedule of summarize the Company’s rights in share capital and voting rights [Line Items] | ||
Main place of the business | Israel | Israel |
Company rights in share capital and voting rights | 27.02% | 27.02% |
Revoltz [Member] | ||
Interest in Other Entities (Details) - Schedule of summarize the Company’s rights in share capital and voting rights [Line Items] | ||
Main place of the business | Israel | Israel |
Company rights in share capital and voting rights | 19.90% | 19.90% |
Gix [Member] | ||
Interest in Other Entities (Details) - Schedule of summarize the Company’s rights in share capital and voting rights [Line Items] | ||
Main place of the business | Israel | |
Company rights in share capital and voting rights | 34.58% | |
Elbit Imaging [Member] | ||
Interest in Other Entities (Details) - Schedule of summarize the Company’s rights in share capital and voting rights [Line Items] | ||
Main place of the business | Israel | |
Company rights in share capital and voting rights | 5.72% | |
Fuel Doctor [Member] | ||
Interest in Other Entities (Details) - Schedule of summarize the Company’s rights in share capital and voting rights [Line Items] | ||
Main place of the business | Israel | |
Company rights in share capital and voting rights | 35.06% |
Interest in Other Entities (_11
Interest in Other Entities (Details) - Schedule of fair value investments in affiliated companies for market price on stock exchange - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
ScoutCam [Member] | |||
Interest in Other Entities (Details) - Schedule of fair value investments in affiliated companies for market price on stock exchange [Line Items] | |||
Carrying amount | $ 9,375 | $ 10,735 | |
Quoted fair value | 9,623 | 15,397 | |
Gix internet [Member] | |||
Interest in Other Entities (Details) - Schedule of fair value investments in affiliated companies for market price on stock exchange [Line Items] | |||
Carrying amount | [1] | 4,867 | |
Quoted fair value | [1] | 5,854 | |
Elbit Imaging [Member] | |||
Interest in Other Entities (Details) - Schedule of fair value investments in affiliated companies for market price on stock exchange [Line Items] | |||
Carrying amount | [2] | 723 | |
Quoted fair value | [2] | $ 974 | |
[1]Gix Internet is consolidated since February 28, 2022 (note 4F).[2]Elbit Imaging investment was accounted for as assets at fair value through profit or loss since October 18, 2022 (note 4J). |
Interest in Other Entities (_12
Interest in Other Entities (Details) - Schedule of purchase price allocation upon deconsolidation - ScoutCam Inc. [Member] $ in Thousands | 1 Months Ended |
Mar. 31, 2021 USD ($) | |
Interest in Other Entities (Details) - Schedule of purchase price allocation upon deconsolidation [Line Items] | |
Fair value of investment | $ 11,843 |
Total consideration | 11,843 |
ScoutCam’s Equity as of March 31, 2021 | 22,338 |
Adjustments to Equity | (5,445) |
Equity ss adjusted | $ 16,893 |
Groups share in % | 28.06% |
Purchase price allocation upon deconsolidation total | $ 4,740 |
Excess cost to allocate: | 7,103 |
Technology | 1,672 |
Deferred tax liability | (385) |
Total intangible assets identified | 1,287 |
Excess purchase price to allocate to goodwill | $ 5,816 |
Interest in Other Entities (_13
Interest in Other Entities (Details) - Schedule of activity in investment account - USD ($) $ in Thousands | 1 Months Ended | 2 Months Ended | 9 Months Ended | 10 Months Ended | 11 Months Ended | 12 Months Ended | |||
Oct. 18, 2022 | Dec. 31, 2021 | Feb. 28, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Automax Ltd [Member] | |||||||||
Interest in Other Entities (Details) - Schedule of activity in investment account [Line Items] | |||||||||
Investment | $ 10,735 | $ 10,735 | |||||||
Group share in losses | (1,776) | ||||||||
Excess cost Amortization-technology | (124) | ||||||||
Share based compensation | 442 | ||||||||
Group share in forfeited options | 98 | ||||||||
Investment | $ 10,735 | $ 9,375 | $ 10,735 | $ 9,375 | $ 9,375 | 9,375 | $ 10,735 | ||
ScoutCam Inc. [Member] | |||||||||
Interest in Other Entities (Details) - Schedule of activity in investment account [Line Items] | |||||||||
Investment | 10,735 | 11,843 | 10,735 | ||||||
Group share in losses | (2,044) | ||||||||
Excess cost Amortization-technology | (96) | ||||||||
Share based compensation | 540 | ||||||||
Exercise of warrants by the Group | 234 | ||||||||
Group share in exercise warrants by others | 218 | ||||||||
Group share in forfeited options | 32 | ||||||||
Additional investment allocated to goodwill | 8 | ||||||||
Investment | 10,735 | 10,735 | 10,735 | ||||||
Gix Internet Ltd [Member] | |||||||||
Interest in Other Entities (Details) - Schedule of activity in investment account [Line Items] | |||||||||
Investment | 4,867 | 4,606 | 4,867 | 1,013 | |||||
Group share in losses | (100) | (298) | |||||||
Group share in other comprehensive loss | (227) | ||||||||
USD/NIS translation adjustments | (45) | 265 | |||||||
Excess cost amortization | (116) | (525) | |||||||
Exercise of the Conversion Right on March 31, 2021 | 2,586 | ||||||||
Exercise of the Conversion Right on June 30, 2021 | 1,831 | ||||||||
Additional purchase on October 1, 2021 | 222 | ||||||||
Investment | 4,867 | 4,606 | 4,867 | 4,867 | |||||
Polyrizon [Member] | |||||||||
Interest in Other Entities (Details) - Schedule of activity in investment account [Line Items] | |||||||||
Investment | 447 | 447 | 103 | ||||||
Group share in losses and adjustments to equity | (233) | ||||||||
Group share in losses | (50) | ||||||||
Excess cost amortization | (24) | ||||||||
Additional purchase on March 9, 2021 | 297 | ||||||||
Additional purchase on August 25, 2021 | 121 | ||||||||
Investment | 447 | 214 | 447 | 214 | 214 | 214 | 447 | ||
Elbit Imaging Ltd [Member] | |||||||||
Interest in Other Entities (Details) - Schedule of activity in investment account [Line Items] | |||||||||
Investment | $ 975 | ||||||||
Dividend | (171) | ||||||||
Group share in losses | (36) | 83 | |||||||
USD/NIS translation adjustments | (108) | 34 | |||||||
Investment | 660 | ||||||||
Gain as a result of transition to fair value | 170 | ||||||||
Fair value of the investment at the day of the transition | $ 830 | ||||||||
SciSparc ltd [Member] | |||||||||
Interest in Other Entities (Details) - Schedule of activity in investment account [Line Items] | |||||||||
Investment | $ 911 | 911 | |||||||
Additional purchases | 33 | ||||||||
Sales | (46) | ||||||||
Revenues – Capital losses | (224) | ||||||||
Revaluation – Capital loss | (614) | ||||||||
Revaluation – Finance income | 70 | 599 | |||||||
Revaluation – Forward contract | 23 | 576 | |||||||
Provision- Forward contract | 23 | (576) | |||||||
Investment | $ 911 | 659 | $ 911 | 659 | 659 | 659 | $ 911 | ||
Parazero Technologies Ltd [Member] | |||||||||
Interest in Other Entities (Details) - Schedule of activity in investment account [Line Items] | |||||||||
Investment | 1,595 | ||||||||
Group share in losses | (553) | ||||||||
Excess cost amortization | (66) | ||||||||
Investment | 976 | 976 | 976 | 976 | |||||
Laminera Flow Optimization Ltd [Member] | |||||||||
Interest in Other Entities (Details) - Schedule of activity in investment account [Line Items] | |||||||||
Investment | 1,333 | ||||||||
Group share in losses | (136) | ||||||||
Excess cost amortization | (21) | ||||||||
Investment | $ 1,176 | $ 1,176 | $ 1,176 | $ 1,176 |
Interest in Other Entities (_14
Interest in Other Entities (Details) - Schedule of reconciliation to carrying amounts - USD ($) $ in Thousands | 10 Months Ended | 12 Months Ended | ||
Dec. 31, 2022 | Feb. 28, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | |
Reconciliation Carrying Amounts [Member] | ||||
Interest in Other Entities (Details) - Schedule of reconciliation to carrying amounts [Line Items] | ||||
Balance at beginning | $ 11,785 | |||
Adjustments to equity | (1,628) | |||
Equity As adjusted | $ 10,157 | |||
Groups share in % | 27.02% | |||
Group share | $ 2,744 | |||
Balance of excess cost: | ||||
Technology, net of deferred tax | 1,023 | |||
Goodwill | 5,608 | $ 5,608 | ||
Balance at ending | 9,375 | $ 11,785 | 9,375 | |
Reconciliation To Carrying Amounts One [Member] | ||||
Interest in Other Entities (Details) - Schedule of reconciliation to carrying amounts [Line Items] | ||||
Balance at beginning | $ 19,615 | 10,735 | ||
Adjustments to equity | (4,883) | |||
Equity As adjusted | $ 14,732 | |||
Groups share in % | 27.02% | |||
Group share | $ 3,981 | |||
Balance of excess cost: | ||||
Technology, net of deferred tax | 1,146 | |||
Goodwill | 5,608 | |||
Balance at ending | 10,735 | |||
Reconciliation to Carrying Amounts Two [Member] | ||||
Interest in Other Entities (Details) - Schedule of reconciliation to carrying amounts [Line Items] | ||||
Balance at beginning | 4,606 | 4,098 | ||
Adjustments to equity | (543) | |||
Equity As adjusted | $ 3,555 | |||
Groups share in % | 34.58% | |||
Group share | $ 1,229 | |||
Balance of excess cost: | ||||
Technology and customers relationship, net of deferred tax | 2,336 | |||
Goodwill | 1,041 | |||
Balance at ending | 4,606 | |||
Reconciliation to Carrying Amounts Three [Member] | ||||
Interest in Other Entities (Details) - Schedule of reconciliation to carrying amounts [Line Items] | ||||
Balance at beginning | 4,129 | 4,867 | ||
Adjustments to equity | (566) | |||
Equity As adjusted | $ 3,563 | |||
Groups share in % | 34.58% | |||
Group share | $ 1,232 | |||
Balance of excess cost: | ||||
Technology and customers relationship, net of deferred tax | 2,551 | |||
Goodwill | 1,084 | |||
Balance at ending | $ 4,867 | |||
Reconciliation to Carrying Amounts Four [Member] | ||||
Interest in Other Entities (Details) - Schedule of reconciliation to carrying amounts [Line Items] | ||||
Balance at beginning | (1,657) | |||
Adjustments to equity | (333) | |||
Equity As adjusted | $ (1,990) | |||
Groups share in % | 40.35% | |||
Group share | $ (803) | |||
Balance of excess cost: | ||||
Technology, net of deferred tax | 677 | |||
Goodwill | 1,102 | 1,102 | ||
Balance at ending | 976 | (1,657) | 976 | |
Reconciliation to Carrying Amounts Five [Member] | ||||
Interest in Other Entities (Details) - Schedule of reconciliation to carrying amounts [Line Items] | ||||
Balance at beginning | 481 | |||
Adjustments to equity | (339) | |||
Equity As adjusted | $ 142 | |||
Groups share in % | 19.70% | |||
Group share | $ 28 | |||
Balance of excess cost: | ||||
IPR&D | 252 | |||
Goodwill | 896 | 896 | ||
Balance at ending | $ 1,176 | $ 481 | $ 1,176 |
Interest in Other Entities (_15
Interest in Other Entities (Details) - Schedule of eventer price allocation - USD ($) $ in Thousands | 1 Months Ended | |||
Feb. 28, 2022 | Aug. 30, 2022 | Mar. 31, 2022 | Jan. 04, 2021 | |
Schedule of Eventer Price Allocation [Abstract] | ||||
Cash consideration invested in Jeffs’ Brands | $ 1,650 | |||
Non- cash consideration invested in Jeffs’ Brands | 71 | |||
Total consideration | $ 7,669 | $ 4 | $ 400 | 1,721 |
Less: | ||||
Fair value of net assets acquired | (8,282) | 2,314 | ||
Fair value of technology acquired, net of deferred taxes | 10,150 | |||
Fair value of customer relations acquired, net of deferred taxes | 5,486 | |||
Non-controlling interest | (7,849) | (1,156) | ||
Total acquired | (495) | 1,158 | ||
Goodwill | 8,164 | $ 563 | ||
Cash consideration | 731 | |||
Fair value former shares holdings | $ 6,939 |
Interest in Other Entities (_16
Interest in Other Entities (Details) - Schedule of short term loans - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule of short term loans [Abstract] | ||
Total | $ 86 | $ 927 |
Amazon Loans [Member] | ||
Schedule of short term loans [Abstract] | ||
Total | 86 | 101 |
Related party loan [member] | ||
Schedule of short term loans [Abstract] | ||
Total | 111 | |
Third parties loans [Member] | ||
Schedule of short term loans [Abstract] | ||
Total | $ 715 | |
Short Term Loans [Member] | ||
Schedule of short term loans [Abstract] | ||
Short term bank loans | 5,025 | |
Current maturities of long-term loans | 1,500 | |
Total consideration | $ 6,525 |
Interest in Other Entities (_17
Interest in Other Entities (Details) - Schedule of long term loans $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Schedule of Long Term Loans [Abstract] | |
Long term bank loans | $ 2,881 |
Interest in Other Entities (_18
Interest in Other Entities (Details) - Schedule of activity in investment account - Automax [Member] $ in Thousands | Mar. 09, 2021 USD ($) |
Interest in Other Entities (Details) - Schedule of activity in investment account [Line Items] | |
Investment as of January 1, 2021 Equity method | $ 546 |
Held for sale asset | 547 |
Total as of January 1, 2021 | 1,093 |
Sale of held for sale asset | (102) |
Share of net profit of associate accounted for using the equity method | 275 |
Total amount as of March 9, 2021 | 1,266 |
Eliminate investment held for sale and equity as a result of transition to fair value | (1,266) |
Fair value of the investment at the day of the transition | $ 1,553 |
Interest in Other Entities (_19
Interest in Other Entities (Details) - Schedule of activity in investment account - Elbit Imaging Ltd [Member] - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended |
Oct. 18, 2022 | Dec. 31, 2021 | |
Interest in Other Entities (Details) - Schedule of activity in investment account [Line Items] | ||
Purchase of shares during June and July 2021 | $ 1,200 | |
Revaluation – profit and loss till August 4, 2021 | (72) | |
Reclassification to equity investment | 1,128 | |
Group share in losses | $ 36 | (83) |
Impairment | (104) | |
USD/NIS translation adjustments | $ (108) | 34 |
Balance as of December 31, 2021 | $ 975 |
Interest in Other Entities (_20
Interest in Other Entities (Details) - Schedule of activity in investment account - SciSparc ltd [Member] - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended |
Dec. 31, 2021 | Dec. 31, 2022 | |
Interest in Other Entities (Details) - Schedule of activity in investment account [Line Items] | ||
Cash investment | $ 825 | $ 911 |
Revaluation – capital gain | 16 | |
Revaluation – Finance income | 70 | 599 |
Revaluation – Forward contract | 23 | 576 |
Provision- Forward contract | (23) | $ 576 |
Investment as of December 31, 2021 | $ 911 |
Interest in Other Entities (_21
Interest in Other Entities (Details) - Schedule of purchase price allocation - USD ($) $ in Thousands | 2 Months Ended | ||||
Mar. 31, 2022 | Feb. 02, 2022 | Aug. 30, 2022 | Feb. 28, 2022 | Jan. 04, 2021 | |
Schedule of Purchase Price Allocation [Abstract] | |||||
Purchase price | $ 1,595 | ||||
Adjusted equity | (252) | ||||
Excess to allocate | $ 1,169 | 1,847 | |||
Excess purchase price to allocate to IPR&D | 273 | ||||
Excess purchase price to allocate to technology | 745 | ||||
Goodwill | 896 | 1,102 | |||
Total | 1,169 | $ 1,847 | |||
Cash consideration | 300 | ||||
Share consideration | 400 | $ 4 | $ 7,669 | $ 1,721 | |
Fair value of former holdings | 633 | ||||
Total purchase price | 1,333 | ||||
Adjusted Company’s equity | $ (164) |
Financial Instruments and Fin_3
Financial Instruments and Financial Risk Management (Details) | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Nov. 30, 2022 USD ($) shares | Feb. 02, 2022 USD ($) shares | Oct. 14, 2021 | May 10, 2021 | Dec. 06, 2016 | Aug. 30, 2022 USD ($) $ / shares shares | May 31, 2022 USD ($) | Apr. 30, 2022 USD ($) | Feb. 28, 2022 USD ($) | Jul. 31, 2021 USD ($) | Nov. 28, 2017 | Mar. 29, 2017 | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2020 USD ($) shares | Dec. 31, 2022 ₪ / shares | Sep. 07, 2022 $ / shares | May 08, 2022 USD ($) | Mar. 31, 2022 USD ($) | Jan. 27, 2022 USD ($) | Mar. 24, 2021 $ / shares | Feb. 25, 2021 $ / shares | Jan. 11, 2021 $ / shares | Jan. 04, 2021 USD ($) | Jul. 18, 2018 | |
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Change in fair value of percentage | 10% | ||||||||||||||||||||||||
Increase/decrease functional currency (in Dollars) | $ | $ 600,000 | $ 379,000 | |||||||||||||||||||||||
Financial liabilities due to payable (in Dollars) | $ | $ 35,904,000 | $ 7,238,000 | |||||||||||||||||||||||
Invested additional amount (in Dollars) | $ | $ 100,000 | $ 134,000 | |||||||||||||||||||||||
Shares issued | 35.94% | 1.28% | |||||||||||||||||||||||
Shares outstanding | 70% | 70% | |||||||||||||||||||||||
Invested amount (in Dollars) | $ | $ 400,000 | $ 100,000 | $ 204,000 | $ 111,000 | |||||||||||||||||||||
Warrants (in Shares) | shares | 30,048 | 91,743 | |||||||||||||||||||||||
Share capital issued percentage | 0.47% | ||||||||||||||||||||||||
Share capital outstanding percentage | 0.47% | ||||||||||||||||||||||||
Purchase of additional shares and warrants (in Shares) | shares | 23,810 | ||||||||||||||||||||||||
Shares purchase (in Shares) | shares | 24,920 | ||||||||||||||||||||||||
Bonds sold (in Dollars) | $ | $ 190,000 | $ 190,000 | |||||||||||||||||||||||
Expected volatility | 63.32% | 63.20% | 63.20% | ||||||||||||||||||||||
Expected term | 5 years 6 months | 5 years 6 months | 5 years | 3 years | |||||||||||||||||||||
Per share (in Dollars per share) | $ / shares | $ 4.16 | $ 2.6 | $ 2.3 | ||||||||||||||||||||||
Purchase of additional warrants (in Shares) | shares | 425,912,000 | ||||||||||||||||||||||||
Total consideration (in Dollars) | $ | $ 4,000 | $ 7,669,000 | $ 400,000 | $ 1,721,000 | |||||||||||||||||||||
Total net proceeds (in Dollars) | $ | 13,400,000 | ||||||||||||||||||||||||
Issuance cost (in Dollars) | $ | $ 2,100,000 | ||||||||||||||||||||||||
Additional warrants issued (in Shares) | shares | 120,192 | ||||||||||||||||||||||||
Additional warrants to purchase (in Shares) | shares | 2,824,525 | ||||||||||||||||||||||||
Warrants issuance year | 5 years | ||||||||||||||||||||||||
Additional warrants outstanding (in Shares) | shares | 120,192 | ||||||||||||||||||||||||
Consolidated revenues percentage | 2.30% | ||||||||||||||||||||||||
Expected term | 3 years | ||||||||||||||||||||||||
Risk free interest rate percentage | 0.19% | 0.19% | 0.19% | 4.76% | |||||||||||||||||||||
Warrants and shares per unit (in Dollars per share) | $ / shares | $ 4.2 | ||||||||||||||||||||||||
Trade on Nasdaq per share (in Dollars per share) | $ / shares | $ 3.15 | ||||||||||||||||||||||||
Automax [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Invested additional amount (in Dollars) | $ | $ 213,000 | ||||||||||||||||||||||||
Additional share purchase (in Shares) | shares | 2,000,000 | ||||||||||||||||||||||||
Shares holds (in Shares) | shares | 15,446,111 | ||||||||||||||||||||||||
Shares issued | 6.46% | ||||||||||||||||||||||||
Shares outstanding | 6.46% | ||||||||||||||||||||||||
Invested amount (in Dollars) | $ | $ 68,000 | ||||||||||||||||||||||||
Purchase of bonds (in Shares) | shares | 220,000 | ||||||||||||||||||||||||
Safee and holds [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Shares issued | 2.35% | ||||||||||||||||||||||||
Shares outstanding | 2.35% | ||||||||||||||||||||||||
Tondo and holds [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Shares issued | 0.67% | ||||||||||||||||||||||||
Shares outstanding | 0.67% | ||||||||||||||||||||||||
SciSparc and holds [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Shares issued | 3.09% | ||||||||||||||||||||||||
Shares outstanding | 3.09% | ||||||||||||||||||||||||
Maris-Tech [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Shares issued | 2.09% | ||||||||||||||||||||||||
Shares outstanding | 2.09% | ||||||||||||||||||||||||
Invested amount (in Dollars) | $ | $ 240,000 | ||||||||||||||||||||||||
Purchase shares and warrant (in Shares) | shares | 78,370 | ||||||||||||||||||||||||
Bubbles [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Shares issued | 1.49% | ||||||||||||||||||||||||
Shares outstanding | 1.49% | ||||||||||||||||||||||||
Invested amount (in Dollars) | $ | $ 306,000 | ||||||||||||||||||||||||
Purchase shares (in Dollars) | $ | 1,236,000 | ||||||||||||||||||||||||
ClearMind [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Invested additional amount (in Dollars) | $ | $ 500,000 | ||||||||||||||||||||||||
Additional share purchase (in Shares) | shares | 76,800 | ||||||||||||||||||||||||
Shares issued | 5.77% | ||||||||||||||||||||||||
Shares outstanding | 5.77% | ||||||||||||||||||||||||
Invested amount (in Dollars) | $ | $ 1,250,000 | ||||||||||||||||||||||||
Purchase shares and warrant (in Shares) | shares | 66,245 | ||||||||||||||||||||||||
Warrants [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Expected volatility | 81.99% | ||||||||||||||||||||||||
Risk free interest | 4.22% | ||||||||||||||||||||||||
Expected term | 3 years 6 months 18 days | ||||||||||||||||||||||||
Warrants Two [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Exercise price per share (in Dollars per share) | $ / shares | $ 2.02 | ||||||||||||||||||||||||
IPO scenario [Member] | Maris investment [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Risk free interest | 4.69% | ||||||||||||||||||||||||
Expected term | 2 years 9 months 7 days | ||||||||||||||||||||||||
Share price | $ / shares | $ 0.0544 | ||||||||||||||||||||||||
Expected volatility | 78.19% | ||||||||||||||||||||||||
IPO scenario [Member] | Polyrizon [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Expected volatility | 81.99% | ||||||||||||||||||||||||
Risk free interest | 4.20% | ||||||||||||||||||||||||
share price | 125% | ||||||||||||||||||||||||
Warrants [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Initial public units (in Shares) | shares | 3,717,473 | ||||||||||||||||||||||||
IPO Warrant [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Ordinary Share, exercise price per share (in Dollars per share) | $ / shares | $ 4.04 | ||||||||||||||||||||||||
Underwriter’s Warrants [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Initial public units (in Shares) | shares | 185,873 | ||||||||||||||||||||||||
Ordinary Share, exercise price per share (in Dollars per share) | $ / shares | $ 5.2 | ||||||||||||||||||||||||
Non-IPO [Member] | Maris investment [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Expected term | 4 years 2 months 19 days | ||||||||||||||||||||||||
Expected volatility (in Dollars per share) | $ / shares | $ 0.83 | ||||||||||||||||||||||||
Weighted average cost of capital percentage | 83.57% | ||||||||||||||||||||||||
Non-IPO [Member] | Polyrizon [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Expected term | 6 months 29 days | ||||||||||||||||||||||||
Share price | $ / shares | $ 4.76 | ||||||||||||||||||||||||
Anti-dilution [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Expected volatility | 46.85% | ||||||||||||||||||||||||
Risk free interest | 0.67% | ||||||||||||||||||||||||
Expected term | 3 years | ||||||||||||||||||||||||
Share price | ₪ / shares | ₪ 1.45 | ||||||||||||||||||||||||
Probability for the occurrence percentage | 25% | ||||||||||||||||||||||||
ScoutCam warrants [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Expected volatility | 49.50% | ||||||||||||||||||||||||
Risk free interest | 0.65% | ||||||||||||||||||||||||
Expected term | 3 years | ||||||||||||||||||||||||
Share price | $ / shares | $ 6.3 | ||||||||||||||||||||||||
Gix Warrants [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Expected volatility | 46.85% | ||||||||||||||||||||||||
Risk free interest | 0.67% | ||||||||||||||||||||||||
Expected term | 3 years | ||||||||||||||||||||||||
Share price | ₪ / shares | ₪ 1.45 | ||||||||||||||||||||||||
Non-IPO Scenario [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Expected volatility | 87.86% | 63.20% | |||||||||||||||||||||||
Risk free interest | 0.85% | 0.24% | |||||||||||||||||||||||
Expected term | 2 years 9 months 7 days | 2 years 6 months | |||||||||||||||||||||||
Share price | $ / shares | $ 0.0544 | $ 3.15 | |||||||||||||||||||||||
IPO scenario [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Expected volatility | 93.76% | 55.81% | |||||||||||||||||||||||
Risk free interest | 0.97% | 0.81% | |||||||||||||||||||||||
Expected term | 3 years 6 months 18 days | 5 years | |||||||||||||||||||||||
Share price | $ / shares | $ 3.15 | ||||||||||||||||||||||||
Share price percentage | 120% | ||||||||||||||||||||||||
SAFO warrants [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Expected volatility | 78.86% | ||||||||||||||||||||||||
Risk free interest | 0.97% | ||||||||||||||||||||||||
Expected term | 3 years | ||||||||||||||||||||||||
Share price | $ / shares | $ 7.56 | ||||||||||||||||||||||||
Black-Scholes model [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Expected volatility | 78.86% | 67.06% | |||||||||||||||||||||||
Risk free interest | 4.73% | 4.76% | |||||||||||||||||||||||
Expected term | 3 years | 5 years | |||||||||||||||||||||||
Share price | $ / shares | $ 0.75 | ||||||||||||||||||||||||
Black-Scholes model [Member] | IPO scenario [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Expected volatility | 67.06% | ||||||||||||||||||||||||
Risk free interest | 4.76% | ||||||||||||||||||||||||
Expected term | 5 years 6 months | ||||||||||||||||||||||||
Colugo [Member] | |||||||||||||||||||||||||
Financial Instruments and Financial Risk Management (Details) [Line Items] | |||||||||||||||||||||||||
Share capital issued percentage | 0.97% | ||||||||||||||||||||||||
Share capital outstanding percentage | 0.97% |
Financial Instruments and Fin_4
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Gix anti-dilution protection [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | $ 469 | |
Gix anti-dilution protection [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Gix anti-dilution protection [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 469 | |
Laminera (formerly ABI) [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 126 | |
Laminera (formerly ABI) [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Laminera (formerly ABI) [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 126 | |
Safo investment [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 10 | 53 |
Safo investment [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 10 | 53 |
Safo investment [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Safo warrants [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 34 | |
Safo warrants [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Safo warrants [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 34 | |
Maris investment [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 84 | 246 |
Maris investment [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 84 | |
Maris investment [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 246 | |
Maris warrants [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 13 | 57 |
Maris warrants [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Maris warrants [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 13 | 57 |
Tondo investment [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 97 | 429 |
Tondo investment [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 97 | 429 |
Tondo investment [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Safee investment [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 400 | 400 |
Safee investment [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Safee investment [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 400 | 400 |
SciSparc investment [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 659 | 911 |
SciSparc investment [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 659 | 911 |
SciSparc investment [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Polyrizon warrants [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 399 | 516 |
Polyrizon warrants [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Polyrizon warrants [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 399 | 516 |
Polyrizon - SAFE [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 302 | |
Polyrizon - SAFE [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Polyrizon - SAFE [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 302 | |
Elbit Investment [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 613 | |
Elbit Investment [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 613 | |
Elbit Investment [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
ClearMind warrants [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 4 | |
ClearMind warrants [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
ClearMind warrants [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 4 | |
ClearMind investment [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 594 | |
ClearMind investment [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 594 | |
ClearMind investment [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
ClearMind anti-dilution protection [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
ClearMind anti-dilution protection [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
ClearMind anti-dilution protection [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Colugo investment [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 400 | |
Colugo investment [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Colugo investment [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 400 | |
Parazero -SAFE [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 520 | |
Parazero -SAFE [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Parazero -SAFE [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 520 | |
Bubbles [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 151 | |
Bubbles [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 151 | |
Bubbles [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Automax bonds [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 9 | |
Automax bonds [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 9 | |
Automax bonds [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Automax [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 1,114 | 1,676 |
Automax [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 1,114 | 1,676 |
Automax [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | ||
Total warrants [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 5,369 | 4,917 |
Total warrants [Member] | Level 1 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | 3,331 | 3,069 |
Total warrants [Member] | Level 3 [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of fair value financial assets [Line Items] | ||
Fair value of financial assets | $ 2,038 | $ 1,848 |
Financial Instruments and Fin_5
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Safo [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | $ 53 | |
Purchase of securities | ||
Net changes at fair value recognized through profit or loss | (43) | |
Sale of securities | ||
Realized gain (loss) | ||
Currency translation | ||
transfer from level 3 to level 1 | ||
Transfer from equity method to level 1 | ||
Ending Balance as of December | 10 | |
A.I Ssystems Ltd [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | ||
Purchase of securities | 75 | |
Net changes at fair value recognized through profit or loss | ||
Sale of securities | (103) | |
Realized gain (loss) | 28 | |
Currency translation | ||
transfer from level 3 to level 1 | ||
Transfer from equity method to level 1 | ||
Ending Balance as of December | ||
Tondo [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 429 | |
Initial recognition at fair value upon dilution of equity investment | ||
Purchase of securities | 472 | |
Net changes at fair value recognized through profit or loss | (26) | (1) |
Sale of securities | (344) | (42) |
Realized gain (loss) | 67 | |
Currency translation | (29) | |
transfer from level 3 to level 1 | ||
Transfer from equity method to level 1 | ||
Ending Balance as of December | 97 | 429 |
Bubbles [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | ||
Purchase of securities | 306 | |
Net changes at fair value recognized through profit or loss | (148) | |
Realized gain (loss) | ||
Currency translation | (7) | |
transfer from level 3 to level 1 | ||
Transfer from equity method to level 1 | ||
Ending Balance as of December | 151 | |
SciSparc ltd [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 911 | |
Initial recognition at fair value upon dilution of equity investment | ||
Purchase of securities | 32 | 825 |
Net changes at fair value recognized through profit or loss | (15) | 86 |
Sale of securities | (46) | |
Realized gain (loss) | (223) | |
Currency translation | ||
transfer from level 3 to level 1 | ||
Transfer from equity method to level 1 | ||
Ending Balance as of December | 659 | 911 |
Maris [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | ||
Purchase of securities | 75 | |
Net changes at fair value recognized through profit or loss | (238) | |
Sale of securities | ||
Realized gain (loss) | ||
Currency translation | ||
transfer from level 3 to level 1 | 247 | |
Transfer from equity method to level 1 | ||
Ending Balance as of December | 84 | |
Automax Bonds [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | ||
Purchase of securities | 69 | |
Net changes at fair value recognized through profit or loss | ||
Sale of securities | (60) | |
Realized gain (loss) | 1 | |
Currency translation | (1) | |
transfer from level 3 to level 1 | ||
Transfer from equity method to level 1 | ||
Ending Balance as of December | 9 | |
ClearMind Investment [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | ||
Purchase of securities | 1,512 | |
Net changes at fair value recognized through profit or loss | (1,207) | |
Sale of securities | ||
Realized gain (loss) | ||
Currency translation | (2) | |
transfer from level 3 to level 1 | 291 | |
Transfer from equity method to level 1 | ||
Ending Balance as of December | 594 | |
Elbit [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | ||
Purchase of securities | ||
Net changes at fair value recognized through profit or loss | (217) | |
Sale of securities | ||
Realized gain (loss) | ||
Currency translation | ||
transfer from level 3 to level 1 | ||
Transfer from equity method to level 1 | 830 | |
Ending Balance as of December | 613 | |
Automax [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 1,676 | |
Initial recognition at fair value upon dilution of equity investment | 1,553 | |
Purchase of securities | 214 | 279 |
Net changes at fair value recognized through profit or loss | (578) | (156) |
Sale of securities | ||
Realized gain (loss) | ||
Currency translation | (198) | |
transfer from level 3 to level 1 | ||
Transfer from equity method to level 1 | ||
Ending Balance as of December | 1,114 | 1,676 |
Total Financial Instrument [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 3,069 | |
Purchase of securities | 2,283 | |
Net changes at fair value recognized through profit or loss | (2,472) | |
Sale of securities | (553) | |
Realized gain (loss) | (127) | |
Currency translation | (237) | |
transfer from level 3 to level 1 | 538 | |
Transfer from equity method to level 1 | 830 | |
Ending Balance as of December | 3,331 | |
Maris One [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 303 | |
Initial recognition of financial asset | 25 | |
Net changes at fair value recognized through profit or loss | (68) | |
transfer to equity investment treatment | ||
transfer from level 3 to level 1 | (247) | |
Ending Balance as of December | 13 | |
Polyrizon warrants [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 516 | |
Initial recognition of financial asset | ||
Net changes at fair value recognized through profit or loss | (117) | |
transfer to equity investment treatment | ||
Currency translation | ||
transfer from level 3 to level 1 | ||
Ending Balance as of December | 399 | |
Laminera [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 126 | |
Initial recognition of financial asset | ||
Net changes at fair value recognized through profit or loss | 507 | |
transfer to equity investment treatment | (633) | |
Currency translation | ||
transfer from level 3 to level 1 | ||
Gix Internet Anti-dilution [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 469 | |
Initial recognition of financial asset | ||
Net changes at fair value recognized through profit or loss | (427) | |
transfer to equity investment treatment | ||
Currency translation | (42) | |
transfer from level 3 to level 1 | ||
SAFO Warrants [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 34 | |
Initial recognition of financial asset | ||
Net changes at fair value recognized through profit or loss | (34) | |
transfer to equity investment treatment | ||
Currency translation | ||
transfer from level 3 to level 1 | ||
Safee [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 400 | |
Initial recognition of financial asset | ||
Net changes at fair value recognized through profit or loss | ||
transfer to equity investment treatment | ||
Currency translation | ||
transfer from level 3 to level 1 | ||
Ending Balance as of December | 400 | |
Total Financial Instrument One [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 1,848 | |
Initial recognition of financial asset | 1,496 | |
Net changes at fair value recognized through profit or loss | (72) | |
transfer to equity investment treatment | (633) | |
Currency translation | (63) | |
transfer from level 3 to level 1 | (538) | |
Ending Balance as of December | 2,038 | |
ClearMind Warrants [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Initial recognition of financial asset | 197 | |
Net changes at fair value recognized through profit or loss | (200) | |
transfer to equity investment treatment | ||
Currency translation | (1) | |
transfer from level 3 to level 1 | 8 | |
Ending Balance as of December | 4 | |
ClearMind anti-dilution Protection [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Initial recognition of financial asset | 40 | |
Net changes at fair value recognized through profit or loss | 279 | |
transfer to equity investment treatment | ||
Currency translation | (20) | |
transfer from level 3 to level 1 | (299) | |
Parazero -SAFE [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Initial recognition of financial asset | 520 | |
Net changes at fair value recognized through profit or loss | ||
transfer to equity investment treatment | ||
Currency translation | ||
transfer from level 3 to level 1 | ||
Ending Balance as of December | 520 | |
Polyrizon -SAFE [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Initial recognition of financial asset | 314 | |
Net changes at fair value recognized through profit or loss | (12) | |
transfer to equity investment treatment | ||
Currency translation | ||
transfer from level 3 to level 1 | ||
Ending Balance as of December | 302 | |
Colugo [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Initial recognition of financial asset | 400 | |
transfer to equity investment treatment | ||
Currency translation | ||
transfer from level 3 to level 1 | ||
Ending Balance as of December | $ 400 | |
Investment in SAFO [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 113 | |
Initial recognition at fair value upon dilution of equity investment | ||
Purchase of securities | ||
Net changes at fair value recognized through profit or loss | (60) | |
Sale of securities | ||
Ending Balance as of December | 53 | |
Total Financial Instrument Two [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 113 | |
Initial recognition at fair value upon dilution of equity investment | 1,553 | |
Purchase of securities | 1,576 | |
Net changes at fair value recognized through profit or loss | (131) | |
Sale of securities | (42) | |
Ending Balance as of December | 3,069 | |
Gix Media' shares [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 2,438 | |
Initial recognition at fair value of ScoutCam warrants upon deconsolidation (note 4C) | ||
Exercise of warrants (note 4C) | ||
Initial recognition of financial asset | ||
Net changes at fair value recognized through profit or loss | 373 | |
Exercise of Conversion Right (note 4F) | (2,811) | |
Ending Balance as of December | ||
Gix Warrants [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 14 | |
Initial recognition at fair value of ScoutCam warrants upon deconsolidation (note 4C) | ||
Exercise of warrants (note 4C) | ||
Initial recognition of financial asset | ||
Net changes at fair value recognized through profit or loss | (14) | |
Exercise of Conversion Right (note 4F) | ||
Ending Balance as of December | ||
ScoutCam warrants [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | ||
Initial recognition at fair value of ScoutCam warrants upon deconsolidation (note 4C) | 97 | |
Exercise of warrants (note 4C) | (51) | |
Initial recognition of financial asset | ||
Net changes at fair value recognized through profit or loss | (46) | |
Exercise of Conversion Right (note 4F) | ||
Ending Balance as of December | ||
Maris investment and warrants [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | ||
Initial recognition at fair value of ScoutCam warrants upon deconsolidation (note 4C) | ||
Exercise of warrants (note 4C) | ||
Initial recognition of financial asset | 240 | |
Net changes at fair value recognized through profit or loss | 63 | |
Exercise of Conversion Right (note 4F) | ||
Ending Balance as of December | 303 | |
Conversion Right [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 1,393 | |
Initial recognition at fair value of ScoutCam warrants upon deconsolidation (note 4C) | ||
Exercise of warrants (note 4C) | ||
Initial recognition of financial asset | ||
Net changes at fair value recognized through profit or loss | 213 | |
Exercise of Conversion Right (note 4F) | (1,606) | |
Ending Balance as of December | ||
Polyrizon warrants [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | ||
Initial recognition at fair value of ScoutCam warrants upon deconsolidation (note 4C) | ||
Exercise of warrants (note 4C) | ||
Initial recognition of financial asset | ||
Net changes at fair value recognized through profit or loss | 516 | |
Exercise of Conversion Right (note 4F) | ||
Ending Balance as of December | 516 | |
Laminera [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | ||
Initial recognition at fair value of ScoutCam warrants upon deconsolidation (note 4C) | ||
Exercise of warrants (note 4C) | ||
Initial recognition of financial asset | 126 | |
Net changes at fair value recognized through profit or loss | ||
Exercise of Conversion Right (note 4F) | ||
Ending Balance as of December | 126 | |
Gix Internet Anti-dilution [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 473 | |
Initial recognition at fair value of ScoutCam warrants upon deconsolidation (note 4C) | ||
Exercise of warrants (note 4C) | ||
Initial recognition of financial asset | ||
Net changes at fair value recognized through profit or loss | (4) | |
Exercise of Conversion Right (note 4F) | ||
Ending Balance as of December | 469 | |
SAFO Warrants [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 98 | |
Initial recognition at fair value of ScoutCam warrants upon deconsolidation (note 4C) | ||
Exercise of warrants (note 4C) | ||
Initial recognition of financial asset | ||
Net changes at fair value recognized through profit or loss | (64) | |
Exercise of Conversion Right (note 4F) | ||
Ending Balance as of December | 34 | |
Total Financial Instrument Three [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Beginning Balance as of January | 4,416 | |
Initial recognition at fair value of ScoutCam warrants upon deconsolidation (note 4C) | 97 | |
Exercise of warrants (note 4C) | (51) | |
Initial recognition of financial asset | 366 | |
Purchase of securities | 400 | |
Net changes at fair value recognized through profit or loss | 1,037 | |
Exercise of Conversion Right (note 4F) | (4,417) | |
Ending Balance as of December | 1,848 | |
Safee Warrants [Member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial assets [Line Items] | ||
Initial recognition at fair value of ScoutCam warrants upon deconsolidation (note 4C) | ||
Exercise of warrants (note 4C) | ||
Initial recognition of financial asset | ||
Purchase of securities | 400 | |
Exercise of Conversion Right (note 4F) | ||
Ending Balance as of December | $ 400 |
Financial Instruments and Fin_6
Financial Instruments and Financial Risk Management (Details) - Schedule of financial liabilities that were measured at fair value - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Financial Instruments and Financial Risk Management (Details) - Schedule of financial liabilities that were measured at fair value [Line Items] | ||
Fair value of warrants | $ 4,555 | $ 692 |
Level 1 of fair value hierarchy [member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial liabilities that were measured at fair value [Line Items] | ||
Fair value of warrants | 396 | 555 |
Level 3 of fair value hierarchy [member] | ||
Financial Instruments and Financial Risk Management (Details) - Schedule of financial liabilities that were measured at fair value [Line Items] | ||
Fair value of warrants | $ 4,159 | $ 137 |
Financial Instruments and Fin_7
Financial Instruments and Financial Risk Management (Details) - Schedule of Level 3 financial liabilities - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Level 3 of fair value hierarchy [member] | ||
Schedule of Level 3 financial liabilities [Abstract] | ||
Opening balance as of January | $ 137 | $ 36 |
Changes in fair value of warrants issued to investors | (36) | |
Fair value of warrants to be issued to lenders of Jeffs’ Brands upon IPO | 62 | |
Issuance of warrants in connection with the IPO of Jeffs’ Brands (note 4E) | 7,640 | |
Changes in fair value of warrants in connection with the IPO of Jeffs; Brands | (3,490) | |
Changes in fair value of warrants to be issued to lenders of Jeffs’ Brands upon IPO | (128) | 75 |
Closing balance as of December | 4,159 | 137 |
Level 1 of fair value hierarchy [member] | ||
Schedule of Level 3 financial liabilities [Abstract] | ||
Opening balance as of January | 555 | 1,039 |
Changes in fair value of warrants issued to investors | (159) | (484) |
Closing balance as of December | $ 396 | $ 555 |
Financial Instruments and Fin_8
Financial Instruments and Financial Risk Management (Details) - Schedule of IPO Warrants and Additional Warrants | 12 Months Ended |
Dec. 31, 2022 $ / shares | |
Bottom of range [member] | |
Financial Instruments and Financial Risk Management (Details) - Schedule of IPO Warrants and Additional Warrants [Line Items] | |
Expected volatility | 77.57% |
Exercise price (in USD) (in Dollars per share) | $ 2.02 |
Share price (in USD) (in Dollars per share) | $ 1.53 |
Risk-free interest rate | 3.27% |
Expected life | 3 years |
WACC | 21.50% |
Top of range [member] | |
Financial Instruments and Financial Risk Management (Details) - Schedule of IPO Warrants and Additional Warrants [Line Items] | |
Expected volatility | 78.89% |
Exercise price (in USD) (in Dollars per share) | $ 4.04 |
Share price (in USD) (in Dollars per share) | $ 1.865 |
Risk-free interest rate | 4.04% |
Expected life | 4 years 8 months 26 days |
WACC | 23.30% |
Cash and Cash Equivalents, Sh_3
Cash and Cash Equivalents, Short Term Deposit and Pledged Deposit (Details) - 12 months ended Dec. 31, 2022 ₪ in Thousands, $ in Thousands | USD ($) | ILS (₪) |
Cash and Cash Equivalents, Short Term Deposit and Pledged Deposit [Abstract] | ||
Aggregated deposits amount | $ 149 | ₪ 523 |
Pledged deposit amount | $ 36 | ₪ 107 |
Cash and Cash Equivalents, Sh_4
Cash and Cash Equivalents, Short Term Deposit and Pledged Deposit (Details) - Schedule of cash and cash equivalents - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Schedule Of Cash And Cash Equivalents Abstract | |||
Cash and cash equivalents – held in bank accounts | $ 20,065 | $ 24,025 | |
Short term deposits – held in bank accounts | 859 | ||
Restricted cash – held in bank accounts | [1] | 185 | |
Total | $ 21,109 | $ 24,025 | |
[1]Gix Media has pledged deposits in an aggregated amount of approximately NIS 523 thousand (USD 149 thousand) as guarantees for credit cards, banks and for the owner of the rented property. Cortex has a pledged deposit in the amount of NIS 107 thousand (USD 36 thousand) as a guarantee for the leased offices. |
Cash and Cash Equivalents, Sh_5
Cash and Cash Equivalents, Short Term Deposit and Pledged Deposit (Details) - Schedule of cash and cash equivalents currencies denominated - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule of Carrying Amount of Cash and Cash Equivalents [Abstract] | ||
Cash and cash equivalents | $ 21,109 | $ 24,025 |
USD [Member] | ||
Schedule of Carrying Amount of Cash and Cash Equivalents [Abstract] | ||
Cash and cash equivalents | 14,680 | 22,151 |
NIS [Member] | ||
Schedule of Carrying Amount of Cash and Cash Equivalents [Abstract] | ||
Cash and cash equivalents | 6,428 | 1,874 |
Other Currencies [Member] | ||
Schedule of Carrying Amount of Cash and Cash Equivalents [Abstract] | ||
Cash and cash equivalents | $ 1 |
Other Receivables Prepaid Exp_3
Other Receivables Prepaid Expenses and Loans to Others (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Feb. 02, 2021 USD ($) | Aug. 23, 2022 USD ($) | Aug. 23, 2022 ILS (₪) | Dec. 31, 2022 USD ($) | |
Other Receivables Prepaid Expenses and Loans to Others (Details) [Line Items] | ||||
Loan amount | $ 940 | $ 914 | ₪ 50 | $ 250 |
Loan interest rate | 1% | |||
Loans To Others [Member] | ||||
Other Receivables Prepaid Expenses and Loans to Others (Details) [Line Items] | ||||
Fair value of the loan | $ 940 |
Other Receivables Prepaid Exp_4
Other Receivables Prepaid Expenses and Loans to Others (Details) - Schedule of other receivables and prepaid expenses - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule Of Other Receivables And Prepaid Expenses Abstract | ||
Government institutions | $ 924 | $ 79 |
Prepaid expenses | 469 | 126 |
Advances to suppliers | 417 | 18 |
Other | 118 | 192 |
Total | $ 1,928 | $ 415 |
Other Receivables Prepaid Exp_5
Other Receivables Prepaid Expenses and Loans to Others (Details) - Schedule of loans to others - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Schedule Of Loans To Others Abstract | |||
Loan to Safee (see note 4D) | $ 71 | ||
Loan to A.I Systems Ltd. | [1] | 940 | |
Total | $ 1,011 | ||
[1]On August 23, 2022, the Company signed a convertible loan agreement with A.I Artificial Intelligence Research and Development Ltd. (A.I R&D Ltd.) for the assignment of a loan it has given to A.I Systems Ltd, a public company traded in Tel Aviv. The original loan amount was NIS 6,000 thousand. According to the agreement, the Company purchased from A.I R&D Ltd., 50% from the original loan in exchange for USD 914 thousand (NIS 3,000 thousand) in the same terms of the original loan given to A.I Systems Ltd. According to the agreement, the loan will bear an interest of 1% per month and will be repaid or converted into shares of A.I Systems Ltd. on March 13, 2023. The loan was accounted for as financial assets measured at fair value through profit or loss. As of December 31, 2022, the fair value of the loan was USD 940 thousand (USD 3,307 thousand). On March 12, 2023, the Company entered into an amendment to the conversion loan agreement. According to the amendment, the repayment will be postponed by 3 months, to June 13, 2023. |
Inventory (Details) - Schedule
Inventory (Details) - Schedule of inventory - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule of inventory [Abstract] | ||
Goods in transit | $ 8 | $ 161 |
Finished goods | 1,783 | 1,066 |
Inventory total | $ 1,791 | $ 1,227 |
Property and Equipment (Details
Property and Equipment (Details) - Schedule of property and equipment and accumulated depreciation - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Cost: | ||
Cost, Balance at beginning of year | $ 1,407 | $ 1,724 |
Additions | 74 | 139 |
Cost, Removal upon deconsolidation | (456) | |
Consolidation of Gix Internet (note 4F) | 967 | |
Cost, Currency translation | (25) | |
Cost, Balance at ending of year | 2,423 | 1,407 |
Accumulated Depreciation: | ||
Accumulated Depreciation, Balance at beginning of year | 1,330 | 1,379 |
Accumulated Depreciation, Additions | 38 | |
Accumulated Depreciation, Removal upon deconsolidation | (87) | |
Consolidation of Gix Internet (note 4F) | 606 | |
Accumulated Depreciation, Additions | 99 | |
Accumulated Depreciation, Currency translation | (20) | |
Accumulated Depreciation, Balance at ending of year | 2,015 | 1,330 |
Accumulated Depreciation, Property and Equipment, net | 408 | 77 |
Machinery and equipment [Member] | ||
Cost: | ||
Cost, Balance at beginning of year | 735 | 947 |
Additions | 99 | |
Cost, Removal upon deconsolidation | (311) | |
Consolidation of Gix Internet (note 4F) | ||
Cost, Currency translation | ||
Cost, Balance at ending of year | 735 | 735 |
Accumulated Depreciation: | ||
Accumulated Depreciation, Balance at beginning of year | 692 | 703 |
Accumulated Depreciation, Additions | 19 | |
Accumulated Depreciation, Removal upon deconsolidation | (30) | |
Accumulated Depreciation, Additions | 10 | |
Accumulated Depreciation, Currency translation | (13) | |
Accumulated Depreciation, Balance at ending of year | 689 | 692 |
Accumulated Depreciation, Property and Equipment, net | 46 | 43 |
Leasehold improvements and furniture [Member] | ||
Cost: | ||
Cost, Balance at beginning of year | 135 | 172 |
Additions | 42 | 1 |
Cost, Removal upon deconsolidation | (38) | |
Consolidation of Gix Internet (note 4F) | 425 | |
Cost, Currency translation | (10) | |
Cost, Balance at ending of year | 592 | 135 |
Accumulated Depreciation: | ||
Accumulated Depreciation, Balance at beginning of year | 126 | 149 |
Accumulated Depreciation, Additions | 3 | |
Accumulated Depreciation, Removal upon deconsolidation | (26) | |
Consolidation of Gix Internet (note 4F) | 205 | |
Accumulated Depreciation, Additions | 48 | |
Accumulated Depreciation, Currency translation | (7) | |
Accumulated Depreciation, Balance at ending of year | 372 | 126 |
Accumulated Depreciation, Property and Equipment, net | 220 | 9 |
Computer programs [Member] | ||
Cost: | ||
Cost, Balance at beginning of year | 537 | 605 |
Additions | 32 | 39 |
Cost, Removal upon deconsolidation | (107) | |
Consolidation of Gix Internet (note 4F) | 542 | |
Cost, Currency translation | (15) | |
Cost, Balance at ending of year | 1,096 | 537 |
Accumulated Depreciation: | ||
Accumulated Depreciation, Balance at beginning of year | 512 | 527 |
Accumulated Depreciation, Additions | 16 | |
Accumulated Depreciation, Removal upon deconsolidation | (31) | |
Consolidation of Gix Internet (note 4F) | 401 | |
Accumulated Depreciation, Additions | 41 | |
Accumulated Depreciation, Balance at ending of year | 954 | 512 |
Accumulated Depreciation, Property and Equipment, net | $ 142 | $ 25 |
Goodwill and Inatangible Asse_3
Goodwill and Inatangible Assets (Details) | Feb. 28, 2022 USD ($) | Feb. 04, 2021 USD ($) | Feb. 04, 2021 ILS (₪) | Feb. 03, 2021 USD ($) | Feb. 02, 2021 USD ($) | Jan. 07, 2021 USD ($) | Mar. 31, 2022 USD ($) | Feb. 02, 2022 USD ($) | Mar. 31, 2021 USD ($) | Jan. 04, 2021 USD ($) |
Goodwill and Inatangible Assets (Details) [Line Items] | ||||||||||
Goodwill | $ 896,000 | $ 1,102,000 | ||||||||
Description of amendment | an addendum to the agreement with Screenz Cross Media Ltd. (a company owned and managed by Eli Uzan who serves as the Company’s President). | an addendum to the agreement with Screenz Cross Media Ltd. (a company owned and managed by Eli Uzan who serves as the Company’s President). | ||||||||
Gix internet [Member] | ||||||||||
Goodwill and Inatangible Assets (Details) [Line Items] | ||||||||||
Interest gain percentage | 38.03% | |||||||||
Intangible assets | $ 17,705,000 | |||||||||
Goodwill | $ 6,602,000 | |||||||||
Pro and Purex [Member] | ||||||||||
Goodwill and Inatangible Assets (Details) [Line Items] | ||||||||||
Goodwill | $ 688,000 | |||||||||
Intangible assets | $ 1,311,000 | |||||||||
Wireless vehicle battery charging technology [Member] | ||||||||||
Goodwill and Inatangible Assets (Details) [Line Items] | ||||||||||
Charging robotics purchased | $ 75,000 | |||||||||
Whoobli [Member] | ||||||||||
Goodwill and Inatangible Assets (Details) [Line Items] | ||||||||||
Trademarks products sold | $ 4,000,000 | |||||||||
Inventory asset | $ 350,000 | |||||||||
Useful life of intangible asset | 10 years | |||||||||
Wellted [Member] | ||||||||||
Goodwill and Inatangible Assets (Details) [Line Items] | ||||||||||
Trademarks products sold | $ 250,000 | |||||||||
Inventory asset | $ 55,000 | |||||||||
Useful life of intangible asset | 10 years | |||||||||
Pet-Evo [Member] | ||||||||||
Goodwill and Inatangible Assets (Details) [Line Items] | ||||||||||
Trademarks products sold | $ 450,000 | |||||||||
Inventory asset | $ 35,000 | |||||||||
Useful life of intangible asset | 10 years | |||||||||
Eli Uzan [Member] | ||||||||||
Goodwill and Inatangible Assets (Details) [Line Items] | ||||||||||
Virtual conferences and development services | $ 1,500,000 | ₪ 4,280 | ||||||||
Revenues earned, percentage | 8% | 8% | ||||||||
Amazon [Member] | ||||||||||
Goodwill and Inatangible Assets (Details) [Line Items] | ||||||||||
intangible asset related amount | $ 0.087 |
Goodwill and Inatangible Asse_4
Goodwill and Inatangible Assets (Details) - Schedule of composition and movements - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Jan. 01, 2021 | |
Goodwill and Inatangible Assets (Details) - Schedule of composition and movements [Line Items] | |||
Balance as of beginning balance | $ 9,024 | $ 495 | |
Additions | 35 | 6,597 | |
Cost Currency translation | (240) | 57 | |
Cost Acquisition of subsidiary | 26,883 | 1,875 | |
Balance as of ending balance | 35,703 | 9,024 | |
Balance as of beginning balance | (703) | ||
Additions | (3,050) | (69) | |
Accumulated Amortization Currency translation | (74) | ||
Accumulated Amortization Acquisition of subsidiary | (1,014) | (545) | |
Balance as of ending balance | (4,841) | (703) | |
Intangible assets, net, as of ending balance | 8,321 | $ 30,862 | |
Accumulated Amortization: | |||
Impairment | (89) | ||
Technology [Member] | |||
Goodwill and Inatangible Assets (Details) - Schedule of composition and movements [Line Items] | |||
Balance as of beginning balance | 478 | 199 | |
Additions | 279 | ||
Cost Currency translation | (42) | ||
Cost Acquisition of subsidiary | 12,485 | ||
Balance as of ending balance | 12,921 | 478 | |
Balance as of beginning balance | (69) | ||
Additions | (1,712) | (69) | |
Accumulated Amortization Currency translation | (74) | ||
Accumulated Amortization Acquisition of subsidiary | (1,014) | ||
Balance as of ending balance | (2,869) | (69) | |
Intangible assets, net, as of ending balance | 409 | 10,052 | |
Accumulated Amortization: | |||
Impairment | |||
Software License [Member] | |||
Goodwill and Inatangible Assets (Details) - Schedule of composition and movements [Line Items] | |||
Balance as of beginning balance | 1,506 | ||
Additions | 35 | 1,460 | |
Cost Currency translation | (175) | 46 | |
Cost Acquisition of subsidiary | |||
Balance as of ending balance | 1,366 | 1,506 | |
Balance as of beginning balance | |||
Additions | |||
Accumulated Amortization Currency translation | |||
Accumulated Amortization Acquisition of subsidiary | |||
Balance as of ending balance | |||
Intangible assets, net, as of ending balance | 1,506 | 1,366 | |
Accumulated Amortization: | |||
Impairment | |||
Patent [Member] | |||
Goodwill and Inatangible Assets (Details) - Schedule of composition and movements [Line Items] | |||
Balance as of beginning balance | 75 | ||
Additions | 75 | ||
Cost Currency translation | |||
Cost Acquisition of subsidiary | |||
Balance as of ending balance | 75 | 75 | |
Balance as of beginning balance | |||
Additions | |||
Accumulated Amortization Currency translation | |||
Accumulated Amortization Acquisition of subsidiary | |||
Balance as of ending balance | |||
Intangible assets, net, as of ending balance | 75 | 75 | |
Accumulated Amortization: | |||
Impairment | |||
Brand names [member] | |||
Goodwill and Inatangible Assets (Details) - Schedule of composition and movements [Line Items] | |||
Balance as of beginning balance | 6,039 | ||
Additions | 4,728 | ||
Cost Currency translation | |||
Cost Acquisition of subsidiary | 1,311 | ||
Balance as of ending balance | 6,039 | 6,039 | |
Balance as of beginning balance | (634) | ||
Additions | (596) | ||
Accumulated Amortization Currency translation | |||
Accumulated Amortization Acquisition of subsidiary | (545) | ||
Balance as of ending balance | (1,230) | (634) | |
Intangible assets, net, as of ending balance | 5,405 | 4,809 | |
Accumulated Amortization: | |||
Impairment | (89) | ||
Customer Relationship [Member] | |||
Goodwill and Inatangible Assets (Details) - Schedule of composition and movements [Line Items] | |||
Balance as of beginning balance | |||
Additions | |||
Cost Currency translation | |||
Cost Acquisition of subsidiary | 6,234 | ||
Balance as of ending balance | 6,234 | ||
Balance as of beginning balance | |||
Additions | (742) | ||
Accumulated Amortization Currency translation | |||
Accumulated Amortization Acquisition of subsidiary | |||
Balance as of ending balance | (742) | ||
Intangible assets, net, as of ending balance | 5,492 | ||
Goodwill [Member] | |||
Goodwill and Inatangible Assets (Details) - Schedule of composition and movements [Line Items] | |||
Balance as of beginning balance | 926 | 296 | |
Additions | 55 | ||
Cost Currency translation | (23) | 11 | |
Cost Acquisition of subsidiary | 8,164 | 564 | |
Balance as of ending balance | 9,068 | 926 | |
Balance as of beginning balance | |||
Additions | |||
Accumulated Amortization Currency translation | |||
Accumulated Amortization Acquisition of subsidiary | |||
Balance as of ending balance | |||
Intangible assets, net, as of ending balance | 926 | $ 9,068 | |
Accumulated Amortization: | |||
Impairment |
Leases (Details)
Leases (Details) ₪ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | |
Feb. 25, 2022 ILS (₪) | Dec. 31, 2022 | Feb. 25, 2021 USD ($) | |
Leases [Abstract] | |||
Short-term lease agreement | ₪ | ₪ 11 | ||
Agreement compensation | ₪ | ₪ 11 | ||
Weighted average remaining lease term | 3 years | ||
Weighted average borrowing rate | 10% | ||
Corporate office square meters | 479 | ||
Monthly rent fee | $ | $ 10 | ||
Initial lease period | 36 months | ||
Rent fee discount | $ | $ 67 |
Leases (Details) - Schedule of
Leases (Details) - Schedule of right-of-use assets - Buildings [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Cost: | |
Cost at beginning of year | |
Acquisition of subsidiary | 619 |
Additions | 152 |
Cost at ending of year | 771 |
Accumulated Depreciation: | |
Accumulated depreciation at beginning of year | |
Acquisition of subsidiary | (92) |
Charge for the year | (88) |
Accumulated Depreciation, Balance at ending of year | (180) |
Carrying amount | |
Carrying amount, Balance at ending of year | $ 591 |
Leases (Details) - Schedule o_2
Leases (Details) - Schedule of leases $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Amounts recognized in profit and loss | |
Depreciation expense on right-of-use assets | $ 88 |
Interest expense on lease liabilities | 82 |
Expense relating to short-term leases | $ 71 |
Leases (Details) - Schedule o_3
Leases (Details) - Schedule of lease liabilities $ in Thousands | Dec. 31, 2022 USD ($) |
Schedule of Lease Liabilities [Abstract] | |
Year 1 | $ 148 |
Year 2 | 148 |
Year 3 | 133 |
Year 4 | 114 |
Year 5 | 118 |
Onwards | 19 |
Less: unearned interest | (37) |
Total | 643 |
Non-current | 512 |
Non Current | 131 |
Total | $ 643 |
Taxes on Income (Details)
Taxes on Income (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Jeffs’ Brands {Member] | |||
Taxes on Income (Details) [Line Items] | |||
Percentage of tax rate | 23% | 23% | 23% |
Gix Media and Cortex Media [Member] | |||
Taxes on Income (Details) [Line Items] | |||
Percentage of tax rate | 12% | ||
Jeffs’ Brands {Member] | |||
Taxes on Income (Details) [Line Items] | |||
Percentage of tax rate | 21% |
Taxes on Income (Details) - Sch
Taxes on Income (Details) - Schedule of deferred taxes - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule Of Deferred Taxes Abstract | ||
Deferred research and development expenses | $ 261 | |
Intangible assets | 110 | 55 |
Employee compensation and benefits | 13 | |
Other | 40 | |
Accrued severance pay | 13 | |
Total deferred tax assets | 397 | 95 |
Differences between tax basis and carrying values of loans | 111 | |
Intangible assets associated with business combinations | 1,817 | 220 |
Total deferred tax liabilities | 1,817 | 331 |
Net deferred tax liabilities | $ 1,420 | $ 236 |
Taxes on Income (Details) - S_2
Taxes on Income (Details) - Schedule of income tax expenses - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule Of Income Tax Expenses Abstract | |||
Current tax expenses | $ 813 | $ 94 | $ 9 |
Tax benefit in respect of prior years | (82) | ||
Deferred tax expenses (income) | (620) | 11 | |
Taxes on expenses | $ 111 | $ 105 | $ 9 |
Taxes on Income (Details) - S_3
Taxes on Income (Details) - Schedule of carry forward tax losses - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Medigus Ltd [Member] | |||
Taxes on Income (Details) - Schedule of carry forward tax losses [Line Items] | |||
Carry forward tax losses | [1] | $ 60,000 | $ 62,000 |
Eventer [Member] | |||
Taxes on Income (Details) - Schedule of carry forward tax losses [Line Items] | |||
Carry forward tax losses | [1] | 3,300 | 2,700 |
Charging Robotics [Member] | |||
Taxes on Income (Details) - Schedule of carry forward tax losses [Line Items] | |||
Carry forward tax losses | [1] | 574 | 360 |
GERD IP [Member] | |||
Taxes on Income (Details) - Schedule of carry forward tax losses [Line Items] | |||
Carry forward tax losses | [1] | 786 | 857 |
Jeffs’ Brands [Member] | |||
Taxes on Income (Details) - Schedule of carry forward tax losses [Line Items] | |||
Carry forward tax losses | [1] | 1,217 | 747 |
Jeffs’ Brands subsidiaries [Member] | |||
Taxes on Income (Details) - Schedule of carry forward tax losses [Line Items] | |||
Carry forward tax losses | 49 | ||
Gix internet [Member] | |||
Taxes on Income (Details) - Schedule of carry forward tax losses [Line Items] | |||
Carry forward tax losses | $ 18,471 | ||
[1]There is no record deferred taxes asset in respect of these losses, as the utilization thereof is not expected to occur in the foreseeable future. |
Taxes on Income (Details) - S_4
Taxes on Income (Details) - Schedule of amount of tax reflected in the consolidated statements of Loss - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule Of Amount Of Tax Reflected In The Consolidated Statements Of Loss Abstract | |||
Income (Loss) before taxes on income | $ (10,097) | $ 4,151 | $ (6,841) |
Theoretical tax rate | 23% | 23% | 23% |
Theoretical tax expense (benefit) | $ (2,322) | $ 955 | $ (1,575) |
Change in fair value of assets and liabilities measured at fair value through profit or loss | (38) | (275) | 86 |
Share-based compensation | 183 | 539 | 298 |
Amortization of excess purchase price of an associate | 60 | 126 | |
Profit recognized upon deconsolidation | (2,678) | ||
Profit recognized upon first time consolidation | (529) | ||
Non-deductible expenses | 723 | ||
Different tax rates applicable to subsidiaries | (360) | (85) | |
Tax benefits in respect of prior years | (84) | ||
Other | 17 | 2 | |
Tax losses and timing differences incurred in the reporting year for which deferred taxes were not created | 2,521 | 1,589 | 1,072 |
Taxes on income | $ 111 | $ 105 | $ 9 |
Accounts Payables, Accrued Ex_3
Accounts Payables, Accrued Expenses and Other Current Liabilities (Details) - Schedule of accounts payables - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule of Accounts Payables [Abstract] | ||
Accounts payable and accruals | $ 20,421 | $ 702 |
NIS unlinked [Member] | ||
Schedule of Accounts Payables [Abstract] | ||
Accounts payable and accruals | 2,713 | 461 |
Other currencies [Member] | ||
Schedule of Accounts Payables [Abstract] | ||
Accounts payable and accruals | $ 17,708 | $ 241 |
Accounts Payables, Accrued Ex_4
Accounts Payables, Accrued Expenses and Other Current Liabilities (Details) - Schedule of accrued expenses and other current liabilities - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule of Accrued Expenses and Other Current Liabilities [Abstract] | ||
Employees and related institutions | $ 949 | $ 185 |
Government authorities | 798 | 128 |
Accrued expenses | 961 | 1,080 |
Other | 443 | 139 |
Accrued expenses and other current liabilities | $ 3,151 | $ 1,532 |
Equity (Details)
Equity (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |||||||||
Nov. 14, 2022 | Jul. 08, 2022 | Jan. 11, 2021 | Dec. 31, 2022 | Feb. 25, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Aug. 30, 2022 | Jun. 17, 2022 | Feb. 12, 2021 | |
Equity (Details) [Line Items] | |||||||||||
Ordinary shares issued (in Shares) | 24,661,470 | 24,661,470 | 23,850,128 | ||||||||
Shares of public offering (in Shares) | 3,659,735 | 3,258,438 | |||||||||
Public offering price, par value (in Dollars per share) | $ 2.3 | $ 2.6 | $ 4.16 | ||||||||
Purchase additional rate | 15% | ||||||||||
Total gross proceeds | $ 9,680,000 | $ 9,700,000 | |||||||||
Purchase percentage | 15% | ||||||||||
Additional purchase amount | $ 488,765,000 | ||||||||||
Number of authorized shares (in Shares) | 200,000,000 | 200,000,000 | 50,000,000 | ||||||||
Post-split ordinary shares (in Shares) | 15 | ||||||||||
Options to employee other services | $ 624,000 | $ 1,049,000 | $ 191,000 | ||||||||
Expenses | $ 79 | $ 1,107,000 | |||||||||
Dividends aggregated amount | $ 1,582,000 | ||||||||||
ADS [Member] | |||||||||||
Equity (Details) [Line Items] | |||||||||||
Ordinary shares issued (in Shares) | 73,194,700 | ||||||||||
Warrants A [Member] | |||||||||||
Equity (Details) [Line Items] | |||||||||||
Ordinary shares issued (in Shares) | 1,000,000,000 | ||||||||||
Warrants C [Member] | |||||||||||
Equity (Details) [Line Items] | |||||||||||
Warrants issued on shares (in Shares) | 548,960 | ||||||||||
Underwriting Agreement Aegis Capital Corp [Member] | |||||||||||
Equity (Details) [Line Items] | |||||||||||
Description of agreement | Split, the Company effected a change in the American Depositary Share (“ADS”) ratios for its American Depositary Receipt program such that each ADS represents one ordinary share of no-par value of the Company (the “Ordinary Share”), instead of twenty (20) pre-Reverse Split Ordinary Shares. | ||||||||||
Bottom of range [member] | |||||||||||
Equity (Details) [Line Items] | |||||||||||
Number of authorized shares (in Shares) | 50,000,000 | ||||||||||
Depositary share (in Shares) | 1 | 1 | |||||||||
Top of range [member] | |||||||||||
Equity (Details) [Line Items] | |||||||||||
Temporary authorized number of shares value | $ 200,000,000 | ||||||||||
Depositary share (in Shares) | 15 | 15 |
Equity (Details) - Schedule of
Equity (Details) - Schedule of share capital - Common Shares [Member] shares in Thousands | Dec. 31, 2022 USD ($) shares | Dec. 31, 2022 ILS (₪) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2021 ILS (₪) shares |
Schedule of Share Capital [Abstract] | ||||
Number of shares, Authorized | 200,000 | 200,000 | 50,000 | 50,000 |
Number of shares, Issued and paid | 24,661 | 24,661 | 23,850 | 23,850 |
Amount, Authorized (in New Shekels) | ₪ | ||||
Amount, Issued and paid (in Dollars) | $ |
Equity (Details) - Schedule o_2
Equity (Details) - Schedule of share capital (Parentheticals) - ₪ / shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule of Share Capital [Abstract] | ||
Ordinary shares par value | ₪ 1 |
Equity (Details) - Schedule o_3
Equity (Details) - Schedule of warrants outstanding - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Schedule of Warrants Outstanding [Abstract] | |||
Number of warrants conversion to equivalent ADSs | [1] | 224,414 | 286,494 |
Series L [Member] | |||
Schedule of Warrants Outstanding [Abstract] | |||
Date of grant | [2] | November 2017 | November 2017 |
Number of warrants conversion to equivalent ADSs | [1],[2] | 6,750 | 6,750 |
exercise price per warrant in USD | [1],[2] | $ 135 | $ 135 |
Expiration date | [2] | May 27, 2023 | May 27, 2023 |
Warrants C [Member] | |||
Schedule of Warrants Outstanding [Abstract] | |||
Date of grant | [2] | July 2018 | July 2018 |
Number of warrants conversion to equivalent ADSs | [1],[2] | 176,045 | 176,045 |
exercise price per warrant in USD | [1],[2] | $ 52.5 | $ 52.5 |
Expiration date | [2] | Jul. 18, 2023 | Jul. 18, 2023 |
Warrant C One [Member] | |||
Schedule of Warrants Outstanding [Abstract] | |||
Date of grant | [3] | July 2018 | July 2018 |
Number of warrants conversion to equivalent ADSs | [1],[3] | 28,377 | 28,377 |
exercise price per warrant in USD | [1],[3] | $ 52.5 | $ 52.5 |
Expiration date | [3] | Jul. 18, 2023 | Jul. 18, 2023 |
HCW warrants [Member] | |||
Schedule of Warrants Outstanding [Abstract] | |||
Date of grant | [2] | July 2018 | July 2018 |
Number of warrants conversion to equivalent ADSs | [1],[2] | 13,242 | 13,242 |
exercise price per warrant in USD | [1],[2] | $ 65.63 | $ 65.63 |
Expiration date | [2] | Jul. 18, 2023 | Jul. 18, 2023 |
Series I [Member] | |||
Schedule of Warrants Outstanding [Abstract] | |||
Date of grant | [2] | December 2016 | |
Number of warrants conversion to equivalent ADSs | [1],[2] | 665 | |
exercise price per warrant in USD | [1],[2] | $ 540 | |
Expiration date | [2] | Jun. 06, 2022 | |
Series J One [Member] | |||
Schedule of Warrants Outstanding [Abstract] | |||
Date of grant | [3] | December 2016 | |
Number of warrants conversion to equivalent ADSs | [1],[3] | 33 | |
exercise price per warrant in USD | [1],[3] | $ 540 | |
Expiration date | [3] | Jun. 06, 2022 | |
Warrants A [Member] | |||
Schedule of Warrants Outstanding [Abstract] | |||
Date of grant | [2] | March 2017 | |
Number of warrants conversion to equivalent ADSs | [1],[2] | 35,715 | |
exercise price per warrant in USD | [1],[2] | $ 210 | |
Expiration date | [2] | Mar. 29, 2022 | |
Placement 03/2017 [Member] | |||
Schedule of Warrants Outstanding [Abstract] | |||
Date of grant | [3] | March 2017 | |
Number of warrants conversion to equivalent ADSs | [1],[3] | 2,500 | |
exercise price per warrant in USD | [1],[3] | $ 262.5 | |
Expiration date | [3] | Mar. 29, 2022 | |
Series M [Member] | |||
Schedule of Warrants Outstanding [Abstract] | |||
Date of grant | [3] | November 2017 | |
Number of warrants conversion to equivalent ADSs | [1],[3] | 945 | |
exercise price per warrant in USD | [1],[3] | $ 150 | |
Expiration date | [3] | Nov. 24, 2022 | |
Algomizer [Member] | |||
Schedule of Warrants Outstanding [Abstract] | |||
Date of grant | [3] | September 2019 | |
Number of warrants conversion to equivalent ADSs | [1],[3] | 22,222 | |
exercise price per warrant in USD | [1],[3] | $ 60 | |
Expiration date | [3] | Sep. 03, 2022 | |
[1]Adjusted to reflect the 1:15 ratio change of the Company’s American Depositary Receipt, or ADR, program. As a result, the number of ordinary shares of the Company represented by each American Depositary Share, or ADS, will be changed from one (1) ordinary share to fifteen (15) ordinary shares. The effective date for the ratio change was November 14, 2022[2]These warrants, under certain circumstances, can be exercised via cashless exercise mechanism as defined in the warrant agreement. Therefore, the warrants were classified as financial liabilities measured at fair value through profit or loss at each reporting period (see note 5).[3]Recorded in equity. |
Equity (Details) - Schedule o_4
Equity (Details) - Schedule of grants of options to employees and other service | 12 Months Ended | |||
Dec. 31, 2022 ILS (₪) $ / shares | Dec. 31, 2022 ILS (₪) shares | |||
Schedule of Grants of Options to Employees and Other Service [Abstract] | ||||
Number of options granted (in Shares) | 1,735,650 | [1] | ||
Number of options outstanding | ₪ | ₪ 1,673,850 | |||
Number of options exercisable (in Shares) | 1,039,579 | |||
October 2017 [Member] | ||||
Schedule of Grants of Options to Employees and Other Service [Abstract] | ||||
Number of options granted (in Shares) | 38,150 | [1] | ||
Exercise price per option to ordinary shares (in Dollars per share) | $ / shares | $ 32.4 | [1] | ||
Currency exercise | NIS | |||
Fair value on grant date in thousands | ₪ | $ 942,000 | ₪ 942,000 | ||
Number of options outstanding | ₪ | ₪ 13,850 | |||
Number of options exercisable (in Shares) | 13,850 | |||
Expiration date | October 17, 2023 | |||
January 2019 [Member] | ||||
Schedule of Grants of Options to Employees and Other Service [Abstract] | ||||
Number of options granted (in Shares) | 150,000 | [1],[2] | ||
Exercise price per option to ordinary shares (in Dollars per share) | $ / shares | $ 11.8 | [1],[2] | ||
Currency exercise | NIS | [2] | ||
Fair value on grant date in thousands | ₪ | $ 947,000 | [2] | ₪ 947,000 | [2] |
Number of options outstanding | ₪ | ₪ 112,500 | [2] | ||
Number of options exercisable (in Shares) | 112,500 | [2] | ||
Expiration date | January 9, 2025 | [2] | ||
July 2019 [Member] | ||||
Schedule of Grants of Options to Employees and Other Service [Abstract] | ||||
Number of options granted (in Shares) | 62,500 | [1],[2] | ||
Exercise price per option to ordinary shares (in Dollars per share) | $ / shares | $ 11.8 | [1],[2] | ||
Currency exercise | NIS | [2] | ||
Fair value on grant date in thousands | ₪ | $ 325,000 | [2] | ₪ 325,000 | [2] |
Number of options outstanding | ₪ | ₪ 62,500 | [2] | ||
Number of options exercisable (in Shares) | 54,688 | [2] | ||
Expiration date | July 25, 2025 | [2] | ||
June 2020 [Member] | ||||
Schedule of Grants of Options to Employees and Other Service [Abstract] | ||||
Number of options granted (in Shares) | 62,500 | [1] | ||
Exercise price per option to ordinary shares (in Dollars per share) | $ / shares | $ 11.8 | [1] | ||
Currency exercise | NIS | |||
Fair value on grant date in thousands | ₪ | $ 283,000 | ₪ 283,000 | ||
Number of options outstanding | ₪ | ₪ 62,500 | |||
Number of options exercisable (in Shares) | 52,083 | |||
Expiration date | May 31, 2026 | |||
July 2020 [Member] | ||||
Schedule of Grants of Options to Employees and Other Service [Abstract] | ||||
Number of options granted (in Shares) | 37,500 | [1],[2] | ||
Exercise price per option to ordinary shares (in Dollars per share) | $ / shares | $ 8.96 | [1],[2] | ||
Currency exercise | NIS | [2] | ||
Fair value on grant date in thousands | ₪ | $ 123,000 | [2] | ₪ 123,000 | [2] |
Number of options outstanding | ₪ | ₪ 37,500 | [2] | ||
Number of options exercisable (in Shares) | 28,125 | [2] | ||
Expiration date | July 8, 2026 | [2] | ||
October 2020 [Member] | ||||
Schedule of Grants of Options to Employees and Other Service [Abstract] | ||||
Number of options granted (in Shares) | 15,000 | [1] | ||
Exercise price per option to ordinary shares (in Dollars per share) | $ / shares | $ 11.8 | [1] | ||
Currency exercise | NIS | |||
Fair value on grant date in thousands | ₪ | $ 70,000 | ₪ 70,000 | ||
Number of options outstanding | ₪ | ₪ 15,000 | |||
Number of options exercisable (in Shares) | 10,000 | |||
Expiration date | October 21, 2026 | |||
June 2021 [Member] | ||||
Schedule of Grants of Options to Employees and Other Service [Abstract] | ||||
Number of options granted (in Shares) | 900,000 | [1],[2] | ||
Exercise price per option to ordinary shares (in Dollars per share) | $ / shares | $ 1.783 | [1],[2] | ||
Currency exercise | USD | [2] | ||
Fair value on grant date in thousands | ₪ | $ 1,221,000 | [2] | ₪ 1,221,000 | [2] |
Number of options outstanding | ₪ | ₪ 900,000 | [2] | ||
Number of options exercisable (in Shares) | 525,000 | [2] | ||
Expiration date | June 29, 2027 | [2] | ||
June 2021 One [Member] | ||||
Schedule of Grants of Options to Employees and Other Service [Abstract] | ||||
Number of options granted (in Shares) | 280,000 | [1] | ||
Exercise price per option to ordinary shares (in Dollars per share) | $ / shares | $ 1.783 | [1] | ||
Currency exercise | USD | |||
Fair value on grant date in thousands | ₪ | $ 380,000 | ₪ 380,000 | ||
Number of options outstanding | ₪ | ₪ 280,000 | |||
Number of options exercisable (in Shares) | 163,333 | |||
Expiration date | June 29, 2027 | |||
June 2021 Two [Member] | ||||
Schedule of Grants of Options to Employees and Other Service [Abstract] | ||||
Number of options granted (in Shares) | 100,000 | [1] | ||
Exercise price per option to ordinary shares (in Dollars per share) | $ / shares | $ 1.783 | [1] | ||
Currency exercise | USD | |||
Fair value on grant date in thousands | ₪ | $ 136,000 | ₪ 136,000 | ||
Number of options outstanding | ₪ | ₪ 100,000 | |||
Number of options exercisable (in Shares) | 50,000 | |||
Expiration date | June 1, 2027 | |||
October 2021 [Member] | ||||
Schedule of Grants of Options to Employees and Other Service [Abstract] | ||||
Number of options granted (in Shares) | 90,000 | [1] | ||
Exercise price per option to ordinary shares (in Dollars per share) | $ / shares | $ 1.783 | [1] | ||
Currency exercise | USD | |||
Fair value on grant date in thousands | ₪ | $ 91,000 | ₪ 91,000 | ||
Number of options outstanding | ₪ | ₪ 90,000 | |||
Number of options exercisable (in Shares) | 30,000 | |||
Expiration date | October 12, 2027 | |||
[1]Adjusted to reflect the Reverse Split of the Company’s authorized and outstanding ordinary shares at a ratio of 20:1 effected on July 7, 2022.[2]Granted to related parties. |
Equity (Details) - Schedule o_5
Equity (Details) - Schedule of options calculated using the Black and Scholes options pricing model - 12 months ended Dec. 31, 2022 ₪ / shares in Units, $ / shares in Units, $ in Thousands | USD ($) $ / shares | USD ($) ₪ / shares | ILS (₪) | |
October 2017 [Member] | ||||
Schedule of Options Calculated Using the Black and Scholes Options Pricing Model [Abstract] | ||||
Fair value on grant date (in New Shekels) | ₪ | ₪ 1,109 | |||
Share price on date of grant (in New Shekels per share) | ₪ / shares | [1] | ₪ 32.4 | ||
Expected dividend | 0% | 0% | ||
Expected volatility | 64% | 64% | ||
Risk free interest | 1.16% | 1.16% | ||
Vesting conditions | four equal batches, following one, two, three and four years from their grant date | four equal batches, following one, two, three and four years from their grant date | ||
Expected term | 6 years | 6 years | ||
Fair value on grant date (in Dollars) | ₪ | 1,109 | |||
Share price on date of grant (in Dollars per share) | ₪ / shares | [1] | ₪ 32.4 | ||
January 2019 [Member] | ||||
Schedule of Options Calculated Using the Black and Scholes Options Pricing Model [Abstract] | ||||
Fair value on grant date (in New Shekels) | ₪ | 947 | |||
Share price on date of grant (in New Shekels per share) | ₪ / shares | [1] | ₪ 10.12 | ||
Expected dividend | 0% | 0% | ||
Expected volatility | 74% | 74% | ||
Risk free interest | 1.45% | 1.45% | ||
Vesting conditions | will vest in 12 equals quarterly instalments over a three-year period commencing October 1, 2018 | will vest in 12 equals quarterly instalments over a three-year period commencing October 1, 2018 | ||
Expected term | 6 years | 6 years | ||
Fair value on grant date (in Dollars) | ₪ | 947 | |||
Share price on date of grant (in Dollars per share) | ₪ / shares | [1] | ₪ 10.12 | ||
July 2019 [Member] | ||||
Schedule of Options Calculated Using the Black and Scholes Options Pricing Model [Abstract] | ||||
Fair value on grant date (in New Shekels) | ₪ | 325 | |||
Share price on date of grant (in New Shekels per share) | ₪ / shares | [1] | ₪ 8.72 | ||
Expected dividend | 0% | 0% | ||
Expected volatility | 75% | 75% | ||
Risk free interest | 1.12% | 1.12% | ||
Vesting conditions | 25% will vest on the first anniversary of the grant date and 75% will vest on a quarterly basis over a period of three years thereafter | 25% will vest on the first anniversary of the grant date and 75% will vest on a quarterly basis over a period of three years thereafter | ||
Expected term | 6 years | 6 years | ||
Fair value on grant date (in Dollars) | ₪ | 325 | |||
Share price on date of grant (in Dollars per share) | ₪ / shares | [1] | ₪ 8.72 | ||
June 2020 [Member] | ||||
Schedule of Options Calculated Using the Black and Scholes Options Pricing Model [Abstract] | ||||
Fair value on grant date (in New Shekels) | ₪ | 282 | |||
Share price on date of grant (in New Shekels per share) | ₪ / shares | [1] | ₪ 7.94 | ||
Expected dividend | 0% | 0% | ||
Expected volatility | 74% | 74% | ||
Risk free interest | 0.53% | 0.53% | ||
Vesting conditions | will vest in 12 equals quarterly instalments over a three-year period commencing June 1, 2020 | will vest in 12 equals quarterly instalments over a three-year period commencing June 1, 2020 | ||
Expected term | 6 years | 6 years | ||
Fair value on grant date (in Dollars) | ₪ | 282 | |||
Share price on date of grant (in Dollars per share) | ₪ / shares | [1] | ₪ 7.94 | ||
July 2020 [Member] | ||||
Schedule of Options Calculated Using the Black and Scholes Options Pricing Model [Abstract] | ||||
Fair value on grant date (in New Shekels) | ₪ | 124 | |||
Share price on date of grant (in New Shekels per share) | ₪ / shares | [1] | ₪ 5.8 | ||
Expected dividend | 0% | 0% | ||
Expected volatility | 74% | 74% | ||
Risk free interest | 0.37% | 0.37% | ||
Vesting conditions | will vest in 12 equals quarterly instalments over a three-year period commencing July 9, 2020 | will vest in 12 equals quarterly instalments over a three-year period commencing July 9, 2020 | ||
Expected term | 6 years | 6 years | ||
Fair value on grant date (in Dollars) | ₪ | 124 | |||
Share price on date of grant (in Dollars per share) | ₪ / shares | [1] | ₪ 5.8 | ||
October 2020 [Member] | ||||
Schedule of Options Calculated Using the Black and Scholes Options Pricing Model [Abstract] | ||||
Fair value on grant date (in New Shekels) | ₪ | 70 | |||
Share price on date of grant (in New Shekels per share) | ₪ / shares | [1] | ₪ 8 | ||
Expected dividend | 0% | 0% | ||
Expected volatility | 76% | 76% | ||
Risk free interest | 0.42% | 0.42% | ||
Vesting conditions | will vest in 12 equals quarterly instalments over a three-year period commencing October 22, 2020 | will vest in 12 equals quarterly instalments over a three-year period commencing October 22, 2020 | ||
Expected term | 6 years | 6 years | ||
Fair value on grant date (in Dollars) | ₪ | ₪ 70 | |||
Share price on date of grant (in Dollars per share) | ₪ / shares | [1] | ₪ 8 | ||
June 2021 [Member] | ||||
Schedule of Options Calculated Using the Black and Scholes Options Pricing Model [Abstract] | ||||
Fair value on grant date (in New Shekels) | $ | $ 1,737 | ₪ 1,737 | ||
Share price on date of grant (in New Shekels per share) | $ / shares | [1] | $ 1.8 | ||
Expected dividend | 0% | 0% | ||
Expected volatility | 87% | 87% | ||
Risk free interest | 0.69% | 0.69% | ||
Vesting conditions | Will vest over a period of 3 years commencing on April 1, 2021(except for 2,000,000 options commencing on June 1, 2021), with 1/12 of such options vesting at the end of each subsequent three-month period following the grant | Will vest over a period of 3 years commencing on April 1, 2021(except for 2,000,000 options commencing on June 1, 2021), with 1/12 of such options vesting at the end of each subsequent three-month period following the grant | ||
Expected term | 6 years | 6 years | ||
Fair value on grant date (in Dollars) | $ | $ 1,737 | ₪ 1,737 | ||
Share price on date of grant (in Dollars per share) | $ / shares | [1] | $ 1.8 | ||
October 2021 [Member] | ||||
Schedule of Options Calculated Using the Black and Scholes Options Pricing Model [Abstract] | ||||
Fair value on grant date (in New Shekels) | $ | $ 91 | ₪ 91 | ||
Share price on date of grant (in New Shekels per share) | $ / shares | [1] | $ 1.4 | ||
Expected dividend | 0% | 0% | ||
Expected volatility | 85% | 85% | ||
Risk free interest | 0.47% | 0.47% | ||
Vesting conditions | Will vest over a period of 3 years commencing on October 12, 2021, with 1/12 of such options vesting at the end of each subsequent three-month period following the grant | Will vest over a period of 3 years commencing on October 12, 2021, with 1/12 of such options vesting at the end of each subsequent three-month period following the grant | ||
Expected term | 6 years | 6 years | ||
Fair value on grant date (in Dollars) | $ | $ 91 | ₪ 91 | ||
Share price on date of grant (in Dollars per share) | $ / shares | [1] | $ 1.4 | ||
[1]Adjusted to reflect the reverse split of the Company’s authorized and outstanding ordinary shares at a ratio of 20:1 effected on July 7, 2022. |
Equity (Details) - Schedule o_6
Equity (Details) - Schedule of share options and the weighted averages of their exercise prices - ₪ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of Share Options and the Weighted Averages of Their Exercise Prices [Abstract] | |||
Number of options, Outstanding at the beginning of year | 1,674,950 | 348,182 | 213,820 |
Weighted average of exercise price per 1 ordinary share, Outstanding at the beginning of year | ₪ 7.02 | ₪ 13.6 | ₪ 17.6 |
Number of options, Granted | 1,370,000 | 152,500 | |
Weighted average of exercise price per 1 ordinary share, Granted | ₪ 5.81 | ₪ 11.1 | |
Number of options, Forfeited | (1,100) | (42,778) | (17,723) |
Weighted average of exercise price per 1 ordinary share, Forfeited | ₪ 32.4 | ₪ 17.23 | ₪ 17.25 |
Number of options, Expired | (454) | (415) | |
Weighted average of exercise price per 1 ordinary share, Expired | ₪ 410 | ₪ 1,074 | |
Number of options, Outstanding at year end | 1,673,850 | 1,674,950 | 348,182 |
Weighted average of exercise price per 1 ordinary share, Outstanding at year end | ₪ 7 | ₪ 7.02 | ₪ 13.6 |
Number of options, Exercisable at year end | 1,039,579 | 530,054 | 143,311 |
Weighted average of exercise price per 1 ordinary share, Exercisable at year end | ₪ 7.57 | ₪ 8.78 | ₪ 16.05 |
Expenses by Nature (Details) -
Expenses by Nature (Details) - Schedule of expenses by nature - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of Expenses by Nature [Abstract] | |||
Payroll and related expenses | $ 7,647 | $ 2,656 | $ 2,420 |
Professional fees | 7,421 | 5,990 | 2,963 |
Traffic-acquisition, materials used and subcontracted work | 75,455 | 3,248 | 1,128 |
Preparation of patents | 153 | 471 | 289 |
Rent and office maintenance | 139 | 158 | 215 |
Depreciation and amortization | 3,188 | 342 | 116 |
Advertising and participation in exhibitions | 1,616 | 1,712 | 133 |
Other | 2,262 | 1,312 | 732 |
Amazon Fees | 2,558 | 2,426 | |
Amortization of excess purchase price of an associate | 263 | 546 | |
TOTAL COST OF REVENUES, INVENTORY IMPAIRMENT, RESEARCH AND DEVELOPMENT, SELLING AND MARKETING AND GENERAL AND ADMINISTRATIVE EXPENSES | $ 100,439 | $ 18,578 | $ 8,542 |
Earning (Loss) Per Share (Detai
Earning (Loss) Per Share (Details) - Schedule of numerator and denominator of the basic and diluted net loss per share - Loss Per Share [Member] - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Numerator (USD in thousands): | ||||
Net earnings (loss) attributable to Medigus Ltd. (in Dollars) | $ (9,815) | $ 6,794 | $ (4,325) | |
Denominator (in thousands): | ||||
Weighted average number of ordinary shares used for basic and diluted earnings (loss) per share calculation (in Shares) | [1] | 24,385 | 23,036 | 6,672 |
Net earnings (loss) per share attributable to Medigus Ltd. (USD): * | ||||
Basic | [1] | $ (0.4) | $ 0.2 | $ (0.6) |
Diluted | [1] | $ (0.4) | $ 0.2 | $ (0.6) |
[1] Adjusted to reflect the Reverse Split at ratio of 20:1 occurred effected on July 7, 2022 – see also note 14 |
Transactions and Balances wit_3
Transactions and Balances with Related Parties (Details) | 1 Months Ended | 12 Months Ended | ||||||||||||
Nov. 11, 2021 USD ($) | Apr. 08, 2021 USD ($) | Oct. 15, 2020 USD ($) | Apr. 19, 2020 USD ($) | Feb. 12, 2020 | Jan. 13, 2020 USD ($) | May 01, 2019 USD ($) | Oct. 26, 2022 USD ($) | Feb. 28, 2021 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Oct. 26, 2022 ILS (₪) | Oct. 31, 2021 | |
Transactions and Balances with Related Parties (Details) [Line Items] | ||||||||||||||
Amount of provision for bonus | $ 77,000 | $ 86,000 | ||||||||||||
Provision for bonus | $ 349,000 | 118,000 | $ 53,000 | |||||||||||
Description of directors and officers liability insurance | On February 12, 2020, ScoutCam’s Inc. Board of Directors authorized the grant of options to purchase 2,235,691 shares of Common Stock to Professor Benad Goldwasser, ScoutCam’s Inc. Chairman of the Board, and options to purchase 1,865,346 shares of Common Stock to certain officers of ScoutCam Inc. Each option is convertible into one share of common stock of ScoutCam Inc. of USD 0.001 par value at an exercise price of USD 0.29. | The Company currently has directors’ and officers’ liability insurance providing total coverage of USD 4 million for the benefit of all of the Company directors and officers, in respect of which the Company are charged a twelve-month premium of USD 195, and which includes a deductible of up to USD 1 million per claim, other than securities related claims filed in the United States or Canada, for which the deductible will not exceed USD 2.5 million and USD 5 million in respect of claim with respect to Mergers and Acquisitions. | ||||||||||||
Intercompany agreement, description | In consideration for its services, Pure Capital is entitled to a monthly fee of NIS 40 thousand (approximately USD 11 thousand), a finder’s fee of 5% of any investment of equity or debt introduced by him to the Company and reimbursement of expenses of up to USD 1 thousand per month. | |||||||||||||
Amount of finder fees | $ 125,000 | |||||||||||||
Options granted | 189,000 | |||||||||||||
Invested amount | $ 300,000 | $ 750,000 | ||||||||||||
Aggregate amount | $ 2,250,000 | |||||||||||||
Share capital percentage | 47.69% | |||||||||||||
Loan amount | $ 250,000 | |||||||||||||
Interest rate | 4% | 5.63% | ||||||||||||
Capital notes issued | $ 2,000,000 | $ 2,000 | ||||||||||||
Extended loans | $ 4,000,000 | |||||||||||||
Annual interest repaid percentage | 4% | |||||||||||||
Consultancy services fee | $ 16,500 | ₪ 57,500 | ||||||||||||
Gross proceeds paid percentage | 7% | |||||||||||||
Consideration paid percentage | 8% | |||||||||||||
Advance to suppliers | $ 228,000 | |||||||||||||
Securities issuance | $ 2,000,000 | |||||||||||||
Eventer Discount | 20% | |||||||||||||
Interest | 6% | |||||||||||||
Directors [Member] | ||||||||||||||
Transactions and Balances with Related Parties (Details) [Line Items] | ||||||||||||||
Benefits of options granted to related parties | $ 81,000 | 195,000 | 734,000 | |||||||||||
Related Parties [Member] | ||||||||||||||
Transactions and Balances with Related Parties (Details) [Line Items] | ||||||||||||||
Benefits of options granted to related parties | $ 263,000 | $ 583,000 | $ 189,000 | |||||||||||
Jeffs’ Brands [Member] | ||||||||||||||
Transactions and Balances with Related Parties (Details) [Line Items] | ||||||||||||||
Consultancy services fee | $ 121,000 | ₪ 425,000 |
Transactions and Balances wit_4
Transactions and Balances with Related Parties (Details) - Schedule of transactions with related parties - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Schedule of transactions with related parties [Abstract] | ||||
Payroll and related expenses to related parties employed by the Company | [1] | $ 1,784 | $ 1,241 | $ 629 |
Compensation to directors | [2] | 837 | 733 | 1,115 |
Directors’ and Officers’ insurance | 846 | 788 | 405 | |
Consultant services | [3] | 218 | 208 | |
Interest and discount amortizations of loans from Jeffs’ Brands related parties | [4] | 42 | 172 | |
Finance expense on Screenz payable balance (see note 4D) | 212 | 169 | ||
Compensation to member of senior management of Gix Internet | [5] | 34 | ||
Eventer sales and marketing expenses to Keshet (see note 4D) | 165 | 279 | ||
Eventer revenues from related parties | 23 | |||
Eventer general and administrative expenses to Screenz | $ 41 | $ 13 | ||
[1]Includes granted options benefit in the aggregated amount of USD 263 thousand, USD 583 thousand and USD 189 thousand for the years ended December 31, 2022, 2021 and 2020, respectively. As for the method used to determine the said value and the assumptions used in calculation thereof, see note 14c.[2]Includes granted options benefit in the aggregated amount of USD 81 thousand, USD 195 thousand and USD 734 thousand for the years ended December 31, 2022, 2021 and 2020, respectively and provision and payments of bonus of approximately USD 77 thousand and USD 86 thousand, for each of the years ended December 31, 2022, and 2021, respectively. As for the method used to determine the said value and the assumptions used in calculation thereof, see note 14c.[3]Kfir Zilbrman is a related party of Jeff Brands, see note 17(4)C.[4]Julia Gerasimova, and Victor Hakmon are related parties of Jeffs’ Brands, see note 4E.[5]Cortex CTO is a related party of Gix Internet. |
Transactions and Balances wit_5
Transactions and Balances with Related Parties (Details) - Schedule of compensation to key management personnel - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
For employment services: | ||||||
Payroll and other short-term benefits | $ 1,521 | [1] | $ 657 | [2] | $ 440 | [3] |
Share based payments | 263 | 584 | 189 | |||
Employment services, total | $ 1,784 | $ 1,241 | $ 629 | |||
[1] Including provision for bonus of approximately USD 349 thousand. Including provision for bonus of approximately USD 118 thousand. Including provision for bonus of approximately USD 53 thousand. |
Transactions and Balances wit_6
Transactions and Balances with Related Parties (Details) - Schedule of current assets - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule of current assets [Abstract] | ||
Related party prepaid expense (a related party of Eventer) (note 4D) | $ 981 | |
Advances to Pure Logistics (related party of Jeffs’ Brands) (note 4E) | 228 | |
Other receivables (a related party of Gix Internet) (note 4F) | 60 | |
Other receivables (a related party of Eventer) (note 4D) | 10 | 18 |
Current assets, total | $ 298 | $ 999 |
Transactions and Balances wit_7
Transactions and Balances with Related Parties (Details) - Schedule of non current assets - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule of non current assets [Abstract] | |||
Short term loan to a related party (loan from Medigus to Gix Internet) (note 4F) | [1] | $ 1,265 | |
Short term loan to a related party (loan from Medigus to Laminera) (note 4N) | 93 | ||
Short term loan to a related party (loan from Charging Robotics to Revoltz) (note 4I) | 62 | ||
Credit line to Parazero (note 4M) | 391 | ||
Non current assets, total | $ 546 | $ 1,265 | |
[1]Gix Internet is consolidated commencing February 28, 2022. |
Transactions and Balances wit_8
Transactions and Balances with Related Parties (Details) - Schedule of current liabilities - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Schedule Of Current Liabilities Abstract | |||
Compensation to key management personnel(*) | [1] | $ 649 | $ 270 |
Other payable dividend to related parties of Gix Internet | 284 | ||
Current liabilities of Jeffs’ Brands to related parties | 177 | ||
Other accrued expenses to related parties of Eventer | 122 | 169 | |
Current liabilities, total | $ 1,055 | $ 616 | |
[1]Compensation to key management: |
Transactions and Balances wit_9
Transactions and Balances with Related Parties (Details) - Schedule of balances with related parties - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule of balances with related parties [Abstract] | ||
Directors’ fee | $ 496 | $ 183 |
Payroll, provision for bonus and for termination of employment | 153 | 87 |
Accrued expenses and other liabilities, total | $ 649 | $ 270 |
Transactions and Balances wi_10
Transactions and Balances with Related Parties (Details) - Schedule of loans - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Schedule of loans [Abstract] | |||
Current portion of long-term payable - Screenz cross media Ltd (a related party of Eventer) (see note 4D) | $ 506 | ||
Long-term payable - Screenz cross media Ltd (a related party of Eventer) (see note 4D) | 711 | ||
Short term loans of Jeffs’ Brands from related parties | [1] | 111 | |
Long term loans of Jeffs’ Brands from related parties | [2] | $ 689 | |
[1] Kfir Zilberman is a related party of Jeffs’ Brands. Julia Gerasimova, Kfir Zilberman and Victor Hakmon are related parties of Jeffs’ Brands. |
Revenues (Details) - Schedule o
Revenues (Details) - Schedule of group’s revenues disaggregated by revenue - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of Group 's Revenues Disaggregated by Revenue [Abstract] | ||||
Miniature camera and related equipment (from ScoutCam) | $ 24 | $ 491 | ||
Revenues from commissions (from Eventer) | 2,465 | 1,185 | 40 | |
Products (from Jeffs’ Brands) | 5,861 | 6,509 | ||
Revenues from internet services (from Gix Internet) | [1] | 83,532 | ||
MUSE and related equipment (from Medigus). | 2,400 | |||
Disaggregation of revenues | $ 91,858 | $ 10,118 | $ 531 | |
[1]The revenues from Gix Internet are presented for the period from March 01 ,2022 to December 31, 2022. |
Revenues (Details) - Schedule_2
Revenues (Details) - Schedule of contract fulfilment assets $ in Thousands | 12 Months Ended |
Dec. 31, 2021 USD ($) | |
Schedule of Contract Fulfillment Assets [Abstract] | |
Balance at beginning of year | $ 1,130 |
Increase in the period relating to ScoutCam | 240 |
De recognition upon deconsolidation of ScoutCam (note 4C) | (1,370) |
Balance at end of year |
Revenues (Details) - Schedule_3
Revenues (Details) - Schedule of company’s contract liabilities - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule of Company's Contract Liabilities [Abstract] | ||
Balance at beginning of year | $ 108 | $ 2,649 |
Deferred revenue relating to new sales | 49 | 1,370 |
De recognition upon deconsolidation of ScoutCam (note 4C) | (1,511) | |
Revenue recognition during the period | (108) | (2,400) |
Balance at end of year | $ 49 | $ 108 |
Segments (Details)
Segments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Segments (Details) [Line Items] | ||
Equity method investment | $ 11,892 | $ 17,240 |
Equity method | 976 | |
Equity loss | 11,465 | |
ScoutCam [Member] | ||
Segments (Details) [Line Items] | ||
Equity method investment | 9,375 | |
Equity loss | 1,402 | |
Investments | 10,735 | |
ScoutCam and equity loss [Member] | ||
Segments (Details) [Line Items] | ||
Equity loss | 1,360 | |
Paraziro [Member] | ||
Segments (Details) [Line Items] | ||
Equity loss | 615 | |
Gix Internet. [Member] | ||
Segments (Details) [Line Items] | ||
Investments | 4,867 | |
Gix Internet. [Member] | ||
Segments (Details) [Line Items] | ||
Equity loss | $ 823 |
Segments (Details) - Schedule o
Segments (Details) - Schedule of operating results of the group - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | ||||
Segments (Details) - Schedule of operating results of the group [Line Items] | |||||
Total segments’ assets | $ 97,651 | $ 59,730 | |||
Total segments’ liabilities | (42,962) | (8,297) | |||
External revenue | 91,858 | 10,118 | |||
Segment results – operating income (loss) | (13,783) | (9,895) | |||
Non-operating income (loss) | 5,994 | 14,393 | |||
Finance income (loss) | (2,309) | (347) | |||
Profit (Loss) before taxes on income | (10,097) | 4,151 | |||
Tax benefit (expense) on income | (111) | (105) | |||
Segment results – profit (loss) | (10,208) | 4,046 | |||
Corporate [Member] | |||||
Segments (Details) - Schedule of operating results of the group [Line Items] | |||||
Total segments’ assets | 19,478 | 33,695 | |||
Total segments’ liabilities | (1,198) | (1,571) | |||
External revenue | 2,400 | ||||
Segment results – operating income (loss) | (7,301) | (2,271) | |||
Non-operating income (loss) | (167) | 2,509 | |||
Finance income (loss) | (224) | 555 | |||
Profit (Loss) before taxes on income | (7,692) | 793 | |||
Tax benefit (expense) on income | (5) | ||||
Segment results – profit (loss) | (7,697) | 793 | |||
E-commerce [Member] | |||||
Segments (Details) - Schedule of operating results of the group [Line Items] | |||||
Total segments’ assets | 15,667 | 7,412 | |||
Total segments’ liabilities | (5,025) | (6,159) | |||
External revenue | 5,859 | 6,509 | |||
Segment results – operating income (loss) | (4,510) | (932) | |||
Non-operating income (loss) | 3,619 | ||||
Finance income (loss) | (520) | (629) | |||
Profit (Loss) before taxes on income | (1,410) | (1,561) | |||
Tax benefit (expense) on income | 5 | 21 | |||
Segment results – profit (loss) | (1,405) | (1,540) | |||
Online Advertising [Member] | |||||
Segments (Details) - Schedule of operating results of the group [Line Items] | |||||
Total segments’ assets | 50,999 | ||||
Total segments’ liabilities | (33,203) | ||||
External revenue | 83,534 | ||||
Segment results – operating income (loss) | [1] | 2,341 | |||
Non-operating income (loss) | (731) | ||||
Finance income (loss) | (1,100) | ||||
Profit (Loss) before taxes on income | 510 | ||||
Tax benefit (expense) on income | (310) | ||||
Segment results – profit (loss) | 200 | ||||
Online Event Management [Member] | |||||
Segments (Details) - Schedule of operating results of the group [Line Items] | |||||
Total segments’ assets | 3,208 | 9,357 | [2] | ||
Total segments’ liabilities | (3,244) | (4,282) | |||
External revenue | 2,465 | 1,185 | |||
Segment results – operating income (loss) | (748) | (3,229) | [3] | ||
Non-operating income (loss) | (30) | ||||
Finance income (loss) | (539) | (206) | |||
Profit (Loss) before taxes on income | (1,317) | (3,435) | |||
Tax benefit (expense) on income | |||||
Segment results – profit (loss) | (1,317) | (3,435) | |||
Others [Member] | |||||
Segments (Details) - Schedule of operating results of the group [Line Items] | |||||
Total segments’ assets | 11,368 | [1] | 11,692 | [4] | |
Total segments’ liabilities | (952) | (399) | |||
External revenue | 24 | ||||
Segment results – operating income (loss) | (2,829) | [5] | (3,531) | [6] | |
Non-operating income (loss) | 137 | 494 | |||
Finance income (loss) | (8) | (15) | |||
Profit (Loss) before taxes on income | (2,700) | (3,052) | |||
Tax benefit (expense) on income | 10 | ||||
Segment results – profit (loss) | (2,690) | (3,052) | |||
Adjustments and eliminations [Member] | |||||
Segments (Details) - Schedule of operating results of the group [Line Items] | |||||
Total segments’ assets | (3,069) | (2,926) | |||
Total segments’ liabilities | 660 | 4,114 | |||
External revenue | |||||
Segment results – operating income (loss) | (736) | 68 | |||
Non-operating income (loss) | 3,166 | 11,390 | |||
Finance income (loss) | 82 | (52) | |||
Profit (Loss) before taxes on income | 2,512 | 11,406 | |||
Tax benefit (expense) on income | 189 | (126) | |||
Segment results – profit (loss) | $ 2,701 | $ 11,280 | |||
[1]Includes an investment accounted for using the equity method of USD 9,375 thousand in relation to ScoutCam and an investment accounted for using the equity method of USD 976 thousand in relation to Paraziro. For additional information in relation to assets and liabilities of ScoutCam and Paraziro refer to note 4C and 4M.[2]Includes an investment accounted for using the equity method of USD 4,867 thousand in relation to Gix Internet. For additional information in relation to assets and liabilities of Gix Internet refer to note 4F.[3]Includes equity loss of USD 823 thousand in relation to Gix Internet. For the operating results of Gix Internet, refer to note 4F.[4]Includes an investment accounted for using the equity method of USD 10,735 thousand in relation to ScoutCam. For additional information in relation to assets and liabilities of ScoutCam refer to note 4C.[5]Includes equity loss of USD 1,360 thousand in relation to ScoutCam and equity loss of USD 615 thousand in relation to Paraziro. For the operating results of Scoutcam and Paraziro, refer to note 4C and 4M.[6]Includes equity loss of USD 1,402 thousand in relation to ScoutCam. For the operating results of Scoutcam, refer to note 4C. |
Entity Level Disclosures (Detai
Entity Level Disclosures (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Entity Level Disclosures [Abstract] | |
Percentage of total revenue | 10% |
Entity Level Disclosures (Det_2
Entity Level Disclosures (Details) - Schedule of revenues by geographical area - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Entity Level Disclosures (Details) - Schedule of revenues by geographical area [Line Items] | |||
Revenues by geographical area | $ 91,858 | $ 10,118 | $ 531 |
USA [Member] | |||
Entity Level Disclosures (Details) - Schedule of revenues by geographical area [Line Items] | |||
Revenues by geographical area | 52,129 | 6,307 | 418 |
Europe [Member] | |||
Entity Level Disclosures (Details) - Schedule of revenues by geographical area [Line Items] | |||
Revenues by geographical area | 21,897 | 127 | 41 |
Israel [Member] | |||
Entity Level Disclosures (Details) - Schedule of revenues by geographical area [Line Items] | |||
Revenues by geographical area | 15,266 | 1,183 | 45 |
Asia [Member] | |||
Entity Level Disclosures (Details) - Schedule of revenues by geographical area [Line Items] | |||
Revenues by geographical area | 2,108 | 2,400 | 24 |
Other [Member] | |||
Entity Level Disclosures (Details) - Schedule of revenues by geographical area [Line Items] | |||
Revenues by geographical area | $ 458 | $ 101 | $ 3 |
Entity Level Disclosures (Det_3
Entity Level Disclosures (Details) - Schedule of revenue by major customers - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Customer A [Member] | |||
Entity Level Disclosures (Details) - Schedule of revenue by major customers [Line Items] | |||
Revenue by major customers | $ 383 | ||
Customer B [Member] | |||
Entity Level Disclosures (Details) - Schedule of revenue by major customers [Line Items] | |||
Revenue by major customers | 2,400 | 24 | |
Customer C [Member] | |||
Entity Level Disclosures (Details) - Schedule of revenue by major customers [Line Items] | |||
Revenue by major customers | 16,919 | ||
Customer D [Member] | |||
Entity Level Disclosures (Details) - Schedule of revenue by major customers [Line Items] | |||
Revenue by major customers | $ 16,468 |
Event Subsequent to December _2
Event Subsequent to December 31, 2022 (Details) $ / shares in Units, € in Thousands, ₪ in Thousands | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||
Mar. 21, 2023 $ / shares | Mar. 09, 2023 USD ($) | Mar. 09, 2023 EUR (€) | Feb. 23, 2023 | Feb. 16, 2023 USD ($) | Apr. 13, 2022 USD ($) | Mar. 31, 2023 ILS (₪) | Mar. 22, 2023 USD ($) shares | Mar. 16, 2023 | Feb. 28, 2023 USD ($) | Mar. 28, 2022 | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2020 USD ($) shares | Jan. 26, 2023 USD ($) | Jan. 17, 2023 USD ($) | Aug. 30, 2022 $ / shares | Jan. 28, 2022 USD ($) | Feb. 25, 2021 $ / shares | Jan. 11, 2021 $ / shares | |||
Event Subsequent to December 31, 2022 (Details) [Line Items] | ||||||||||||||||||||||
Annual interest rate | 5.37% | |||||||||||||||||||||
Invested amount | $ 171,000 | $ 120,000 | ||||||||||||||||||||
Cash | $ 4,335 | |||||||||||||||||||||
Long-term bank loan received | $ 1,500,000 | |||||||||||||||||||||
Per share (in Dollars per share) | $ / shares | $ 4.16 | $ 2.6 | $ 2.3 | |||||||||||||||||||
Ordinary shares (in Shares) | shares | 24,385 | 23,036 | [1] | 6,672 | [1] | |||||||||||||||||
Initial equity percentage | 19.90% | |||||||||||||||||||||
Common shares amount | $ 250,000 | |||||||||||||||||||||
Loan amount | $ 250,000 | |||||||||||||||||||||
Dividends aggregated amount | ₪ 3,030 | $ 1,039,000 | ||||||||||||||||||||
Gix Media [Member] | ||||||||||||||||||||||
Event Subsequent to December 31, 2022 (Details) [Line Items] | ||||||||||||||||||||||
Dividends aggregated amount | ₪ 432 | $ 130,000 | ||||||||||||||||||||
Forecast [Member] | ||||||||||||||||||||||
Event Subsequent to December 31, 2022 (Details) [Line Items] | ||||||||||||||||||||||
Investment, description | the Company and other lenders, signed a convertible loan agreement with Polyrizon Ltd.in the amount of USD 180 thousand, of which the company loan amounted to USD 80 thousand. | |||||||||||||||||||||
Annual interest rate | 4% | |||||||||||||||||||||
Shares in case of issuance securities | $ 500,000 | |||||||||||||||||||||
Discount rate | 20% | |||||||||||||||||||||
Invested amount | $ 81,000 | |||||||||||||||||||||
Percentage of investment currently holds | 4.99% | |||||||||||||||||||||
Percentage of additional | 10% | |||||||||||||||||||||
Percentage of share capital | 80% | |||||||||||||||||||||
Amount of valuation | $ 27,000,000 | |||||||||||||||||||||
Description of warrant | March 21, 2023, ScoutCam Inc. completed a private placement to existing stockholders, of 3,294,117 units, at a purchase price of USD 4.25 per unit, with each unit consisting of one share of Scoutcam’s common stock and one three-year warrant to purchase one share of Scoutcam’s common stock at an exercise price of USD 5.50 | |||||||||||||||||||||
Per share (in Dollars per share) | $ / shares | $ 5.5 | |||||||||||||||||||||
Percentage of private placement | 18.45% | |||||||||||||||||||||
Description of share purchase agreement | On February 23, 2023, Jeffs’ Brands Ltd. and Jeffs’ Brands Holdings Inc., entered into a stock purchase agreement (the “Wellution Agreement”), with SciSparc Ltd. (“SciSparc”), pursuant which, on March 22, 2022, Jeffs’ Brands Holdings acquired from SciSparc 57 shares of common stock of SciSparc Nutraceuticals Inc. (“SciSparc Nutraceuticals”), a wholly-owned subsidiary of SciSparc that owns and operates Wellution , a top-selling Amazon food supplements and cosmetics brand, representing approximately 49% of the issued and outstanding common stock of SciSparc Nutraceuticals, for approximately USD 2.5 million in cash (the “Wellution Transaction”). | |||||||||||||||||||||
Additional amount | $ 489,000 | |||||||||||||||||||||
Installment amount | 98,000 | |||||||||||||||||||||
Monthly fee | $ 3,000 | € 2,500 | 20,000 | |||||||||||||||||||
Bonus | $ 51,000 | |||||||||||||||||||||
Ordinary shares (in Shares) | shares | 247,415 | |||||||||||||||||||||
Share issued (in Shares) | shares | 360,297 | |||||||||||||||||||||
Dividing amount | $ 288,238,000 | |||||||||||||||||||||
Outstanding share capital | $ 2,400,000 | € 2,000 | ||||||||||||||||||||
Option sale agreement description | On March 16, 2023, the Company signed an amendment to the option sale agreement by and between the Company and Buffalo Investment Ltd. (“Buffalo”) dated as of December 7, 2021 (the “Amendment” and the “Buffalo Agreement”), according to which Buffalo and Pure Capital Ltd. shall transfer to the Company shares of Hydreight Technologies Inc., Viewbix Inc., SciSparc Ltd. (“SciSparc”), ClearMind Medicine Inc. and Colugo Systems Ltd., instead of a transfer of 135,000 shares of SciSparc worth USD 817 thousand which was originally agreed under the Buffalo Agreement. The aggregated value of the shares transferred under the Amendment is USD 937 thousand reflecting USD 817 thousand plus compensation worth of USD 130 thousand. | |||||||||||||||||||||
Issued and outstanding percentage | 60% | |||||||||||||||||||||
Increase its holding percentage | 71% | |||||||||||||||||||||
Forecast [Member] | Cortex Media Group Ltd [Member] | ||||||||||||||||||||||
Event Subsequent to December 31, 2022 (Details) [Line Items] | ||||||||||||||||||||||
Cash | $ 2,600,000 | |||||||||||||||||||||
Bottom of range [member] | Forecast [Member] | ||||||||||||||||||||||
Event Subsequent to December 31, 2022 (Details) [Line Items] | ||||||||||||||||||||||
Exchange shares percentage | 2.97% | |||||||||||||||||||||
Top of range [member] | Forecast [Member] | ||||||||||||||||||||||
Event Subsequent to December 31, 2022 (Details) [Line Items] | ||||||||||||||||||||||
Exchange shares percentage | 4.99% | |||||||||||||||||||||
[1] Share and per share data in these financial statements have been retrospectively adjusted, for all periods presented, to reflect a number of shares that is equivalent to the number of shares of the Company post the Reverse Split (see note 14a(7)). |