On February 14, 2024, following a claim for payment by employees of OBI of past salaries due, the district court in Haifa, Israel appointed a trustee to run the affairs of OBI. As a result of this appointment, effective February 14, 2024, the Company no longer controlled OBI and has ceased to consolidate the results of OBI into its consolidated results. The Company recognized a loss as a result of the deconsolidation of $66. The Company does not currently believe that rehabilitation is possible and purchased certain OBI equipment.

The Company recorded $2,695 being what it owes to OBI under Accounts payable related Parties on the balance sheet of December 31, 2024.

The following table summarizes the deconsolidated assets and liabilities as of February 14, 2024:

During 2024, following a claim for payment by employees of Orgenesis Korea of past salaries due, the court in Korea ordered the liquidation of Orgenesis Korea. As a result of thereof, effective October 1, 2024 , the Company no longer controlled Orgenesis Korea and has ceased to consolidate the results of Orgenesis Korea into its consolidated results. The Company recognized a profit as a result of the deconsolidation of $1,335.


Total assets acquired:
Cash and cash equivalents	$	1
Property, plants and equipment, net		-
Other Assets		40
Total assets	$	41

Total liabilities:	$	749
Total Net liabilities deconsolidated	$	708
Total accumulated other comprehensive income deconsolidated	$	627
Profit from deconsolidation of Orgenesis Korea	$	1,335

Deconsolidation of Orgenesis Belgium SRL and Orgenesis Services SRL (“the Belgian subsidiaries”)

On December 20, 2024, the Liège Business Court in Belgium appointed provisional liquidators for the Belgian subsidiaries. The Belgian subsidiaries had, on November 8, 2024, petitioned the Liège Business Court to allow a judicial reorganization pursuant to Article XX.41 of the Belgian Code of Economic Law. The petition followed the inability of the Belgian subsidiaries to pay employee payroll expenses and accounts payable.

As a result of thereof, effective December 20, 2024, the Company no longer controlled the Belgian subsidiaries and has ceased to consolidate their results into its consolidated results. The Company recognized a profit as a result of the deconsolidation of $3,213.


Orgenesis Belgium SRL
Total assets acquired:
Cash and cash equivalents	$
Property, plants and equipment, net		13
Other Assets		91
Total assets	$	104

Total liabilities assumed:	$	2,453
Total net liabilities deconsolidated	$	2,349
Total Accumulated Other Comprehensive income deconsolidated		82
Profit from deconsolidation of Orgenesis Belgium SRL	$	2,431


Orgenesis Services SRL
Total assets acquired:
Cash and cash equivalents	$	5
Property, plants and equipment, net		768
Other Assets		124
Total assets	$	897

Total liabilities assumed:	$	1,852
Total net liabilities deconsolidated	$	955
Total Accumulated Other Comprehensive loss deconsolidated	$	(175	)
Profit from deconsolidation of Orgenesis Services SRL	$	782

The deconsolidation of the Belgian subsidiaries is described in this note. For related legal proceedings, including the appointment of provisional liquidators by the Liège Business Court, see note 22.