Quarterly report pursuant to Section 13 or 15(d)

GENERAL (Tables)

v3.21.2
GENERAL (Tables)
 9 Months Ended
Sep. 30, 2021
Credit Derivatives [Line Items]  
SCHEDULE OF PURCHASE PRICE ALLOCATION

The following table summarizes the total purchase price and purchase price allocation:

 

    U.S. dollars in thousands  
    Unaudited  
       
Cash payment     2,500  
Consideration in Shares     1,699  
Fair value of convertible promissory note     4,989  
Total purchase price     9,188  
         
Cash and cash equivalents     73  
Trade receivables     66  
Property and equipment, net     183  
Security deposit     3  
Technology intangible asset     1,500  
Total identifiable assets     1,825  
         
Accounts payable     (82 )
Deferred tax liability     (315 )
Due to related party     (1 )
Total liability assumed     (398 )
         
Total goodwill     7,761  
SCHEDULE OF UNAUDITED PRO FORMA RESULTS OF OPERATION

 

    Nine months ended September 30,     Year ended December 31,  
    2021     2020  
    (unaudited)  
Revenues   $ 7,866     $ 5,164  
Net loss     (24,552 )     (17,603 )
Basic and diluted net loss per share     (0.04 )     (0.04 )
Monte Carlo Simulation Model [Member]  
Credit Derivatives [Line Items]  
SCHEDULE OF PURCHASES PRICE ALLOCATION OF CONVERSION

The Optional / Maturity Conversion (scenario 1) was estimated by the appraiser using the Monte Carlo Simulation Model based on the following parameters:

 

    April 19, 2021  
Risk-free interest rate     0.54 %
Expected term (years)     3.94  
Volatility     164.02 %
Share price     0.058  
Conversion price     *  
Fair value   $ 5,101  
Monte Carlo Simulations Model [Member]  
Credit Derivatives [Line Items]  
SCHEDULE OF PURCHASES PRICE ALLOCATION OF CONVERSION

The Mandatory Conversion (scenario 2) was estimated by the appraiser using the Monte Carlo Simulation Model based on the following parameters:

 

    April 19, 2021  
Risk-free interest rate     0.54 %
Expected term (years)     0.04  
Volatility     112.1 %
Share price     0.058  
Conversion price     *  
Fair value   $ 4,976