v3.26.1
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Loss before tax for the year $ (45,450) $ (24,621)
Share-based compensation 9,022 15,274
Issuance of restricted shares to investors 465 610
Depreciation and amortization 1,546 2,274
Decrease in other receivables 13 699
Decrease in trade payables (6,910) (549)
Decrease in other payables (1,132) (375)
Revaluation of financial liabilities at fair value (1,516)
Financial expenses, net due to bridge loans principal amounts 13 23
Interest on leases 18 18
Interest expenses and revaluation of convertible notes 5,253 2,277
Revaluation of Investment in gold 158
Financial expenses, net due to revaluation of SEPA 11,644
Interest expenses due to short term loan 1,315
Issuance of warrants to the placement agent 426
Net cash flow used in operating activities (25,360) (4,145)
Cash flows from investing activities:    
Purchase of property, plant and equipment (146)
Investment in Gold (1,001)
Net cash flow used in investing activities (1,147)
Cash flows from financing activities:    
Payment of lease liabilities (26) (41)
Proceeds from issuance of convertible notes and security 3,426
Repayment of bridge loans (301) (250)
Proceeds from SEPA share issuance, net 50,523
Repayment of short-term loan (200)
Repayment of convertible notes (246)
Net cash flow from financing activities 50,196 2,689
Increase (decrease) in cash and cash equivalents 23,689 (1,456)
Cash and cash equivalents at beginning of period 12,201 2,343
Exchange rate differences on cash and cash equivalent (2,350) (137)
Cash and cash equivalents at end of period 33,540 750
Appendix A – Non-Cash transactions during the period:    
Conversion of convertible notes (and warrants) into ordinary shares 11,080 3,204
Issuance of Ordinary shares to services providers 911
Issuance of warrants to the placement agent – issuance expenses against additional paid in capital $ (698)