Annual report pursuant to Section 13 and 15(d)

Investment in Affiliatd Companies, Net (Tables)

v3.21.1
Investment in Affiliatd Companies, Net (Tables)
 12 Months Ended
Dec. 31, 2020
Investments, All Other Investments [Abstract]  
Summary of Observable Inputs Used in Valuation of Option Transaction Asset
    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,  
    2020     2019  
             
Investment in affiliated company, net (A)   $ -     $     (448 )
Non-current loans (B)     -       448  
Total Investment in affiliated company, net   $         -     $ -  

 

  (A) The investment in affiliated company as follows:

 

    Investment in Affiliated Company  
As of the Closing Date   $ 1,345  
In-Process Research and Development asset expensed as incurred     (1,345 )
Accumulated net losses     (448 )
As of December 31, 2019   $ (448 )
Revaluation of investment in affiliated company to its fair value upon obtaining control     1,623  
Amount classified to the cost of subsidiary in acquisition achieved in stages upon obtaining control     (1,623 )
As of December 31, 2020   $ -  

Schedule of Paid in Investment

At the closing date the purchase price that was paid in investment in CATK is as follows:

 

 Funding Commitment (*)   $ 1,550  
 Fair value of shares upon achieving Performance Milestone     250  
 Direct costs incurred (**)     100  
 Contingent Consideration (***)     1,050  
 Total consideration   $ 2,950  

 

  (*) An amount of $911 out of the Funding commitment was wired through December 31, 2020.
     
  (**) Number of 2,164,502 shares of common stock have been issued as a finder fee in connection with the agreement (see also note 14B3).
     
  (***) Was determined by the management by using the assistance of third-party appraiser. As the Company’s obligation under such Contingent Consideration provision represent a potential liability to issue a fixed number of its common stock, the obligation was classified within shareholders’ deficit.