v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Loss before tax for the year $ (35,401) $ (20,914) $ (6,184)
Share based compensation 3,657 3,269 306
Depreciation and amortization 2,273 225 290
Decrease (increase) in other current receivables 140 2,938 (2,936)
Impairment of intangible assets 2,197
Impairment of goodwill 6,813
Increase (decrease) in trade payables (2,780) 2,074 2,217
Increase (decrease) in other payables 1,761 (235) 114
Increase in other liabilities 19 17
Revaluation of financial liabilities at fair value 1,890 1,496 387
Interest expenses and revaluation of convertible notes 6,818 3,899 51
Financial expenses due to bridge loans principal amounts 435
Remeasurement of investment in associated company (22,164)
Provision of borrowing to related parties 621
Share in (earnings) losses of associated companies, net 101 (106)
Issuance of ordinary shares due to underwriter fees 238 11
Issuance cost due to inducement Alpha warrant B’s exercise price 184
Issuance of ordinary shares due to commitment fee 460  
SPAC transaction - listing costs 16,802
Net cash flow used in operating activities (11,314) (12,479) (5,223)
Cash flows from investing activities:      
Purchase of property, plant and equipment (21) (60) (152)
Capitalized development cost (169) (976) (975)
Net cash flow used in investing activities (190) (1,036) (1,127)
Cash flows from financing activities:      
Payments of borrowings to related parties (172)
Payment of lease liabilities (80) (42) (55)
Repayment of bridge loans (34) (30)
Repayment of pre-paid advances/Advance payment for equity, net (423) 2,679
Proceeds from issuance of ordinary shares and pre-funded warrants 6,945 2,630 182
Exercise of warrants and pre-funded warrants into ordinary shares 2,399 642
Proceeds from issuance of convertible notes and warrants 3,303 2,606 581
Proceeds from short term loan 1,000
Proceeds from issuance of bridge loans and warrants 550 3,310
Issuance of shares in the SPAC transaction, net 2,919
Net cash flow provided by financing activities 13,110 11,954 3,846
Increase (decrease) in cash and cash equivalents 1,606 (1,561) (2,504)
Cash and cash equivalents at beginning of year 168 1,398 4,171
Exchange rate differences on cash and cash equivalent 569 331 (269)
Cash and cash equivalents at end of year 2,343 168 1,398
Appendix A – Non-cash transactions during the year:      
Conversion of financial liability into ordinary shares 645 5,330
Conversion of bridge loans into ordinary shares and warrants 128 5,192
Conversion of convertible notes and warrants into ordinary shares 8,530 175
Exercise of cashless options into ordinary shares 314 2,925
Exercise of warrants and pre-funded warrants into ordinary shares 4,824 1,008
Issuance cost 152
Other current receivable in connection to exercise of Series A Common Warrant 1,510
Remeasurement of investment in associated company $ (22,164)