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

Supplementary Financial Statement Information

v3.21.1
Supplementary Financial Statement Information
 12 Months Ended
Dec. 31, 2020
Supplementary Financial Statement Information [Abstract]  
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION

NOTE 11 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION:


Balance sheets:


    December 31  
    2020     2019  
a. Accounts receivable and prepaid expenses            
Institutions   $ 81     $ 124  
Prepaid expenses     158       84  
Other     -       62  
    $ 239     $ 270  
b. Trade payable, breakdown by currency:                
USD   $ 240     $ 35  
NIS     558       798  
    $ 798     $ 833  
c. Accounts payable and accruals - other:                
Employees and institutions for employees   $ 671     $ 799  
Provisions for vacation and others     360       245  
Royalties and Other     912       159  
    $ 1,943     $ 1,203  

Statements of operations:


d. Revenues

  1) Disaggregated revenues

    Year ended December 31  
    2020     2019     2018  
Revenues from licensing agreement (see Note 2(p))   $ 3,600     $ -     $ 4,085  
Revenues from the sales of goods     2,108       1,949       739  
Revenues from the rendering of services     429       369       190  
Total revenues   $ 6,137     $ 2,318     $ 5,014  

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

    Year ended December 31  
    2020     2019     2018  
United states and Canada   $ 5,768     $ 2,078     $ 4,868  
Europe     369       240       ’146  
Total revenues   $ 6,137     $ 2,318     $ 5,014  

  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):


    2020     2019     2018  
Customer A     4,929       1,374       4,274  
                         
Customer B     822       242       -  
                         
Customer C     -       419       505  

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

    2020     2019     2018  
Balance at beginning of year   $ (942 )   $ (1,950 )   $ -  
Contract liability recognized during the period     (270 )     -       (1,959 )
Revenue recognized during the period     1,005       1,008       9  
                         
Balance at end of year(1)     (207 )     (942 )     (1,950 )
Contract liability presented in current liabilities     (207 )     (942 )     (970 )
Contract liability presented in non-current liabilities     -       -       (980 )

(1) Balance for the years ended December 31, 2018 and 2019 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  
    2020     2019     2018  
Payroll and related expenses   $ 1,973     $ 1,954     $ 1,968  
Share-based payments     464       549       457  
Subcontractors and consultants     125       77       296  
Consumables and materials     262       304       309  
Depreciation and amortization     408       354       220  
Rent and maintenance     824       1,082       874  
Other     9       122       80  
      4,065       4,442       4,204  
Less:                        
                         
IIA participation in R&D expenses, see Note 7(a)     -       (28 )     (327 )
      -       (28 )     (327 )
    $ 4,065     $ 4,414     $ 3,877  

g. General, administrative and marketing

    Year ended December 31  
    2020     2019     2018  
Payroll and related expenses   $ 1,495     $ 1,293     $ 1,152  
Share-based payments (1)     1,075       576       977  
Directors’ salary and insurance     573       415       168  
Rent and office maintenance     205       84       89  
Professional services     1,045       1,012       1,111  
Depreciation     48       33       23  
Other     228       243       203  
    $ 4,669     $ 3,656     $ 3,723  

(1)  Share-based payments expenses for the year ended December 31, 2018, include an amount of $583, due to services received from Alpha, and none for the years ended December 31, 2019 and 2020.

h. Financial expenses

    Year ended December 31  
    2020     2019     2018  
Financial expenses:                  
Bank and other fees   $ 11     $ 63     $ 17  
Remeasurement of financial instruments     -       3,230       2,154  
Other financing expenses     23       10       9  
Total financial expenses   $ 34     $ 3,303     $ 2,180  
                         
Financial income:                        
Remeasurement of financial instruments   $ 40       -       -  
Total financial income   $ 40     $ -     $ -