Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Investment in Affiliated Company, Net (Tables)

v3.20.2
Investment in Affiliated Company, Net (Tables)
12 Months Ended
Dec. 31, 2019
Investments, All Other Investments [Abstract]  
Summary of Observable Inputs Used in Valuatiom of Option Transaction Asset

The following table summarizes the observable inputs used in the valuation of the Option Transaction asset as of the Closing Date:

 

    As of
Closing Date
 
Share price (U.S. dollars)   $ 5,385  
Exercise price (U.S. dollars)   $ 5,423  
Expected volatility     137.2 %
Risk-free interest rate     2.44 %
Dividend yield     -  
Expected term (years)     0.16  

Schedule of Investment in Affiliated Company

The following tabular presentation reflects the Investment in affiliated company:

 

   

As of

December 31,

2019

 
Investment in affiliated company, net (1)   $ (447,621 )
Non-current loans (2)     447,621  
Total Investment in affiliated company, net   $ -  

 

1. The investment in affiliated company as follows:

 

   

Investment in Affiliated

Company

 
As of the Closing Date   $ 1,345,180  
Less amortization of In-Process Research and Development asset     (1,345,180 )
Less accumulated net losses     (447,621 )
As of December 31, 2019   $ (447,621 )

 

1. As part of the Joint Venture Agreement, during the year ended December 31, 2019, the Company provided Breakthrough with an interest-free loan with no maturity date in total amount of $447,621. Following the reduction of the investment in affiliated company to zero amount, the Company considered to recognized additional losses to other investments (non-current loans) based on the seniority of such other investments and the percentage ownership interest applicable for such other investment.