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

Supplementary Financial Statement Information

v3.20.1
Supplementary Financial Statement Information
 12 Months Ended
Dec. 31, 2019
Supplementary Financial Statement Information [Abstract]  
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION

NOTE 10 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION:

 

Balance sheets:

 

    December 31  
    2019     2018  
a. Accounts receivable and prepaid expenses            
Institutions   $ 124     $ 125  
Prepaid expenses     84       105  
Other     62       104  
    $ 270     $ 334  
b. Trade payable, breakdown by currency:                
USD   $ 35     $ 180  
NIS     798       442  
    $ 833     $ 622  
c. Accounts payable and accruals - other:                
Employees and institutions for employees   $ 799     $ 385  
Provisions for vacation and others     245       196  
Other     159       38  
    $ 1,203     $ 619  

  

Statements of operations:

 

d. Revenues

 

  1) Disaggregated revenues

 

    Year ended December 31  
    2019     2018     2017  
Revenues from the sales of goods   $ 1,949     $ 739     $ 463  
Revenues from the rendering of services     369       190       -  
Revenues from licensing agreement (see Note 2(l))     -       4,085       -  
Total revenues   $ 2,318     $ 5,014     $ 463  

 

  2)

Revenues by geographical area (based on the location of customers):

 

    Year ended December 31  
    2019     2018     2017  
United states and Canada   $ 2,078     $ 4,868     $ 223  
Europe     240       146       240  
Total revenues   $ 2,318     $ 5,014     $ 463  

 

  3) Major customers

 

Set forth below is a breakdown of the Company's revenue by major customers (major customer –revenues from these customers constitute at least 10% of total revenues in a certain year):

 

    2019     2018     2017  
Customer A     1,374       4,274       191  
                         
Customer B     -       -       145  
                         
Customer C     -       -       82  
                         
Customer D     419       505       -  
                         
Customer E     242       -       -  

 

  4) The changes in deferred revenues relating to goods that were not yet delivered are as follows:

 

    2019     2018  
Balance at beginning of year   $ (1,950 )   $ -  
Contract liability recognized due to LB agreement     -       (1,959 )
Revenue recognized during the period     1,008       9  
Balance at end of year(1)     (942 )     (1,950 )
Contract liability presented in current liabilities     (942 )     (970 )
Contract liability presented in non-current liabilities     -       (980 )

 

(1) Represents the unfulfilled performance obligation related to First BioInk.

 

e. Long-lived assets

 

All of the Company's long-lived assets are located in Israel.

 

f. Research and development

 

    Year ended December 31  
    2019     2018     2017  
Payroll and related expenses   $ 1,954     $ 1,968     $ 2,136  
Share-based payments     549       457       333  
Subcontractors and consultants     77       296       551  
Consumables and materials     304       309       194  
Depreciation and amortization     354       220       227  
Rent and maintenance     980       780       750  
Other     224       174       299  
      4,442       4,204       4,490  
Less:                        
Participation in R&D expenses     -       -       (159 )
IIA participation in R&D expenses, see Note 7(a)     (28 )     (327 )     (425 )
      (28 )     (327 )     (584 )
    $ 4,414     $ 3,877     $ 3,906  

 

g. General, administrative and marketing

 

    Year ended December 31  
    2019     2018     2017  
Payroll and related expenses   $ 1,293     $ 1,152     $ 813  
Share-based payments (1)     576       977       623  
Directors' salary and insurance     415       168       114  
Rent and office maintenance     84       89       89  
Professional services     1,012       1,111       667  
Depreciation     33       23       13  
Other     243       203       147  
    $ 3,656     $ 3,723     $ 2,466  

 

(1) Share-based payments expenses for the year ended December 31, 2018 and 2017, include amount of $583 and $425, respectively, due to services received from Alpha, and none for the year ended December 31, 2019.

 

h. Financial expenses

 

    Year ended December 31  
    2019     2018     2017  
Financial expenses:                  
Bank and other fees   $ 63     $ 17     $ 9  
Remeasurement of financial instruments     3,230       2,154       17  
Other financing expenses     10       9       21  
Total financial expenses   $ 3,303     $ 2,180     $ 47