Report of foreign issuer [Rules 13a-16 and 15d-16]

Share Capital (Tables)

v3.25.2
Share Capital (Tables)
 6 Months Ended
Jun. 30, 2025
Share Capital [Abstract]  
Schedule of Shares Issued Granted Options

In the six months ended June 30, 2024, the Company granted options as follows:

 

    Six months ended June 30, 2024
    Number of
options granted		     Exercise
price
range		     Vesting
period		     Expiration
Employees     41,500     $ 5.26-5.76       4 years     10 years
Consultant     5,000     $ 5.26       4 years     10 years
Schedule of Fair Value of Options Granted

The fair value of options granted on the date of grant was computed using the Black-Scholes model. The underlying data used for computing the fair value of the options are as follows:

 

    Six months ended
June 30		  
    2024  
Value of ordinary share   $ 5.13-5.46  
Dividend yield     0 %
Expected volatility     70.91-70.97 %
Risk-free interest rate     4.35-4.46 %
Expected term     6.11 years  
Schedule of Options Granted to Employees and Directors

The following table summarizes the activity in options granted to employees and directors for the six months period ended June 30, 2025:

 

    Number of
options		     Weighted
average
exercise
price		     Weighted
average
remaining
contractual
term
(in years)		     Aggregate
intrinsic
value		  
Options outstanding at the beginning of the period     1,727,755     $ 5.75       4.99     $
             -
  
Expired     (50,704 )     5.80       -      
-
  
Forfeited     (30,220 )     6.34       -      
-
  
Options outstanding at the end of the period     1,646,831     $ 5.74       4.96     $
-
  
Options exercisable at the end of the period     1,430,074     $ 5.68       4.61     $
-
  
    Number of
options		     Weighted
average
exercise
price		     Weighted
average
remaining
contractual
term
(in years)		     Aggregate
intrinsic
value		  
Options outstanding at the beginning of the period     36,666     $ 8.35       6.78     $
                -
  
Expired     (11,666 )     17.04       -      
-
  
Options outstanding at the end of the period     25,000     $ 4.46       9.28     $
-
  
Options exercisable at the end of the period     1,250     $ 5.26       8.76     $
-
  
Schedule of Granted Restricted Share Units

In the six months ended June 30, 2024, the Company granted restricted share units, or RSUs, as follows:

 

    Six months ended
June 30, 2024		  
    Number of
RSUs granted		     Weighted
Average
Grant
Date Fair
Value		  
Employees     261,000     $ 5.13  
Schedule of Activity in RSU Granted to Employees and Directors

The following table summarizes the activity in RSUs granted to employees under the 2024 Plan for the six months period ended June 30, 2025:

 

    Number of
options		     Weighted
Average
Grant Date
Fair
Value		  
Unvested at the beginning of the period     441,000     $ 4.99  
Exercised into ordinary shares     (61,500 )     5.13  
Forfeited     (15,000 )     5.13  
Unvested at the end of the period     364,500     $ 4.95  
Schedule of Share-Based Compensation The following table illustrates the effect of share-based compensation on the statements of operations:
    Six months ended
June 30		     Three months ended
June 30		  
    2025     2024     2025     2024  
Cost of revenue   $
-
     $
-
     $
-
     $
    -
  
Research and development     251       410       128       278  
General, administrative and marketing     487       370       228       212  
    $ 738     $ 780     $ 356     $ 490