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NOTE 1 – GENERAL <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"><tbody><tr style="vertical-align: top; text-align: justify;"><td style="width: 0.5in;"></td> <td style="width: 0.25in; text-align: left;">a.</td> <td style="text-align: justify;">Wearable Devices Ltd. (the “Company”) was incorporated in Israel in March 2014. The Company develops and sells human-machine interface solutions for the smart wearables industry. The Company is still in its development stage and at an early stage of generating revenues. The Company’s products are designated directly to end users and also designated to businesses in integration of its technology in their smart wearable devices. The Company’s ordinary shares, no par value per share (“Ordinary Shares”), and warrants began trading on the Nasdaq Capital Market (“Nasdaq”) on September 13, 2022, under the symbols “WLDS” and “WLDSW,” respectively (see Note 4a below).</td> </tr></tbody></table> The Company’s revenues were derived from: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"><tbody><tr style="vertical-align: top; text-align: justify;"><td style="width: 1in;"></td> <td style="width: 0.25in; text-align: left;">1)</td> <td style="text-align: justify;">The sales of business-to-consumer (“B2C”) products, the “Mudra Band” and the “Mudra Link”.</td> </tr></tbody></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"><tbody><tr style="vertical-align: top; text-align: justify;"><td style="width: 1in;"></td> <td style="width: 0.25in; text-align: left;">2)</td> <td style="text-align: justify;">The sales of business-to-business Mudra development kits composed of multiple performance obligations including tangible parts (“Hardware”) and a limited period (generally one year) application programming interface with no commercial rights, to enable the customer to evaluate the Company’s solution with its own products.</td> </tr></tbody></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"><tbody><tr style="vertical-align: top; text-align: justify;"><td style="width: 1in;"></td> <td style="width: 0.25in; text-align: left;">3)</td> <td style="text-align: justify;">The sales of pilot transactions to evaluate the integration of the Company’s solution with the customer’s products composed of multiple performance obligations including Hardware, tailor-made software applications and technical support during the pilot period.</td> </tr></tbody></table> In the six months ended June 30, 2026, and June 30, 2025, most of the Company’s revenues were derived from the sales of Mudra Band and Mudra Link to B2C customers. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"><tbody><tr style="vertical-align: top; text-align: justify;"><td style="width: 0.5in;"></td> <td style="width: 0.25in; text-align: left;">b.</td> <td style="text-align: justify;">In 2018, the Company established a wholly owned subsidiary in the United States for the purpose of marketing and distribution of its solutions – Mudra Wearable, Inc. – which commenced its operations in 2020.</td> </tr></tbody></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse;"> <tbody><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in;"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in;">c.</td> <td style="font: 10pt Times New Roman, Times, Serif;">In October 2024, the Company effected a one-for-twenty (1-for-20) reverse stock split of its Ordinary Shares (the “October Reverse Split”). As a result of the October Reverse Split, every twenty (20) Ordinary Shares issued and outstanding were combined into one Ordinary Share. The October Reverse Split changed the par value of the Ordinary Shares from NIS 0.01 to zero par value. On March 17, 2025, the Company effectuated an additional 1-for-4 reverse share split of its issued and outstanding Ordinary Shares (the “March Reverse Split”). The March Reverse Split did not change the number of shares authorized for issuance. On March 11, 2026, the Company effectuated an additional 1-for-3 reverse share split of its issued and outstanding Ordinary Shares, and on June 22, 2026, the Company effectuated a further 1-for-3 reverse share split of its issued and outstanding Ordinary Shares . All outstanding securities entitling their holders to purchase Ordinary Shares, including options and warrants, were adjusted as a result of the Reverse Share Splits, as required by the terms of those securities. All share amounts, share prices, and exercise prices have been adjusted retroactively within these financial statements to reflect the Reverse Share Splits.</td> </tr></tbody></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse;"><tbody><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in;"></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in;">d.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;">On October 7, 2023, Hamas terrorists infiltrated Israel’s southern border from the Gaza Strip and conducted a series of attacks on civilian and military targets. Hamas also launched extensive rocket attacks on the Israeli population and industrial centers located along Israel’s border with the Gaza Strip and in other areas within the State of Israel. Following the attack, Israel’s security cabinet declared war against Hamas and the Israeli military began to call-up reservists for active duty. As of August 24, 2026, there is a ceasefire with Hamas that has been in place since October 2025.</td> </tr></tbody></table> Following the attack by Hamas on Israel’s southern border, Hezbollah, a terrorist organization in Lebanon, has also launched missile, rocket, and shooting attacks against Israeli military sites, troops, and Israeli towns in northern Israel. In response to these attacks, the Israeli army has carried out a number of targeted strikes on sites belonging to Hezbollah in southern Lebanon, and in October 2024, the Israeli military initiated a ground operation in Lebanon, primarily near the Israel-Lebanon border. In June 2025, in light of continued nuclear threats and intelligence assessments indicating imminent attacks, Israel launched a preemptive strike directly targeting military and nuclear infrastructure inside Iran aimed to disrupt Iran’s capacity to coordinate or launch further hostilities against Israel, as well as disrupt its nuclear program. In addition, during the two-week fighting with Iran in June 2025, Israel closed its airspace and ceased all port activity related to commercial shipments. In light of continued nuclear and missiles threats and intelligence assessments indicating imminent attacks, on February 28, 2026, the United States and Israel launched a preemptive strike directly targeting military and nuclear infrastructure inside Iran aimed to disrupt Iran’s capacity to coordinate or launch further hostilities activities, as well as disrupt its nuclear and missiles programs. In addition, since March 2, 2026, Israel has been engaged with Hezbollah in Lebanon, that has been launching missile, rocket, and shooting attacks against Israeli military sites, troops, and Israeli towns. In response to these attacks, Israel has carried out a number of targeted strikes on sites associated with Hezbollah in Lebanon. As of August 24, 2026, the situation remains highly fluid, and the Company is unable to predict when, or on what terms, this escalation will be resolved. Further, many Israeli citizens are obligated to perform several days, and in some cases, more, of annual military reserve duty each year until they reach the age of 40 (or older for certain reservists) and, in the event of a military conflict, may be called to active duty. As of August 24, 2026, these events have no material impact on the Company’s operations. On October 24, 2023, the Company received a written notification from the Listing Qualifications Department of the Nasdaq Stock Market LLC regarding its noncompliance with Nasdaq’s minimum bid price requirement because the closing bid price of the Ordinary Shares was below $1.00 per ordinary share for the previous 30 consecutive business days. The Company was granted 180 calendar days, or until April 22, 2024, to regain compliance with the minimum bid requirement. Since the Company did not regain compliance with the minimum bid price requirement by April 22, 2024, it applied for an additional 180-calendar day grace period. On April 23, 2024, Nasdaq granted the Company an additional 180-day compliance period, or until October 21, 2024, to regain compliance with Nasdaq’s minimum bid price rule. On October 10, 2024, the October Reverse Split at the ratio of 1:20 became effective. As a result, the Company was informed by Nasdaq on October 28, 2024, that the Company had regained compliance. The Company’s stockholders’ equity was approximately $1.7 million as of June 30, 2024. On January 16, 2025, the Company received a written notification from Nasdaq, which stated that the Company was no longer in compliance with the minimum stockholders’ equity requirement for continued listing on Nasdaq, due to the Company’s failure to maintain a minimum of $2.5 million in stockholders’ equity. In accordance with Nasdaq rules, on February 5, 2025, the Company submitted a plan to regain compliance. On April 4, 2025, the Company received a letter notifying that the Company has regained compliance with listing Nasdaq Rule 5550(b)(1), and the matter was subsequently closed. Liquidity and Resources: The accompanying interim condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As of August 24, 2026, the Company is still at its development stage and at an early stage of generating revenues. Therefore, the Company has suffered recurring losses from operations and negative cash flows from operations since inception. In September 2022, the Company completed an initial public offering (the “IPO”) in the United States whereby it listed it Ordinary Shares on Nasdaq and raised net proceeds of $13.3 million. In November 2023, the Company completed a secondary offering and raised net proceeds of $1.7 million. In June 2024, the Company entered into a Standby Equity Purchase Agreement (the “SEPA”). During 2024, the Company issued 34,131 Ordinary Shares pursuant to SEPA for net proceeds of $4.4 million. In June 2024, the Company received an initial pre-paid advance of $2 million in connection with the execution of SEPA, which was fully repaid until February 2025. In November 2024, the Company completed a registered direct offering and raised net proceeds of $1.58 million. During 2025, the Company completed several subsequent equity offerings with Armistice Capital, LLC (the “Shareholder”) that resulted in aggregate net proceeds of approximately $20.5 million, as detailed within note 4. Further, starting from September 2025 the Company entered into a sales agreement with a sales agent (the “Sales Agent”), pursuant to which the Company may offer and sell, from time to time, through the Sales Agent, Ordinary Shares through an at-the-market (“ATM”) equity offering program. During 2025, the Company raised net proceeds of approximately $1.2 million, before deducting offering expenses under the ATM program. In April 2026, the Company entered into a warrant inducement transaction pursuant to which certain outstanding warrants were exercised for cash. 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340000

159000

NOTE 4 – EQUITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"><tbody><tr style="vertical-align: top; text-align: justify;"><td style="width: 0.75in;"></td> <td style="width: 0.25in; text-align: left;">a.</td> <td style="text-align: justify;">Share capital:</td> </tr></tbody></table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 88%; font-weight: bold; padding-bottom: 1.5pt;">Outstanding as of December 31, 2025</td> <td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="width: 9%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">960,934</td> <td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-indent: -0.125in; padding-left: 0.125in;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left;">Issuance of ordinary shares associated with warrant exercise inducement transaction previously held in abeyance</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">220,111</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left;">Issuance of Ordinary Shares for the reverse split process (see note 1.c.)</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">16,075</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left;">Issuance of Ordinary Shares associated with warrant exercise inducement transaction (see note 4.a(5))</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">968,166</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt;">Issuance of Ordinary Shares upon vesting of RSUs</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">40,092</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1,244,444</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-indent: -0.125in; padding-left: 0.125in;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; padding-bottom: 4pt;">Outstanding as of June 30, 2026</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">2,205,378</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"> <tbody><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in;"></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in;">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;">In September 2022, the Company completed its IPO whereby the Company issued and sold in connection with the closing of the IPO 5,208 units, each consisting of one Ordinary Share and two warrants to purchase one Ordinary Share each. In addition, the underwriter exercised its over-allotment option with respect to 1,562 warrants to purchase 1,562 Ordinary Shares.</td> </tr></tbody> </table> The warrants were exercisable immediately upon issuance, at an exercise price of $2,880 per Ordinary Share and are exercisable until September 12, 2027. On September 16, 2022, 56 warrants were exercised into 56 Ordinary Shares. On December 14, 2022, the exercise price of the warrants was adjusted to $1,440 per Ordinary Share. <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white;"> <tbody><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in;"></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in;">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;">On November 27, 2024, the Company completed a registered direct offering and concurrent private placement for the issuance and sale of 7,000 Ordinary Shares, 15,833 pre-funded warrants to purchase up to 15,833 Ordinary Shares in the registered direct offering and warrants to purchase up to 22,833 Ordinary Shares in the concurrent private placement at a combined purchase price of $81 per ordinary share. During December 2024, 7,167 pre-funded warrants were exercised into 7,167 Ordinary Shares, and on January 8, 2025, an additional 8,667 pre-funded warrants were exercised into 8,667 Ordinary Shares.</td> </tr></tbody> </table> The warrants issued pursuant to the concurrent private placement have an exercise price of $90.00 per Ordinary Share, are immediately exercisable and expire five years following the date of issuance. The Company received gross proceeds of approximately $1.85 million, before deducting underwriting discounts and commissions and before offering expenses ($1.58 million net proceeds after deducting underwriting discounts and commissions and other expenses). <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white;"> <tbody><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in;"></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in;">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;">On January 30, 2025, the Company announced the closing of best efforts public offering with a single institutional investor for the purchase and sale of 9,583 Ordinary Shares, 59,861 pre-funded warrants to purchase up to 59,861 Ordinary Shares, and warrants to purchase up to 69,444 Ordinary Shares, at a combined offering price of $36 per share and accompanying warrant (the “Offering”). The Company received aggregate gross proceeds of approximately $2.5 million, before deducting placement agent fees and other offering expenses ($2.2 million net proceeds after deducting placement agent discounts and commissions and other expenses) and assuming no exercise of the warrants. The warrants have an exercise price of $36 per share, are exercisable immediately and expire five years from the issuance date.</td> </tr></tbody> </table> In connection with the Offering, the Company also agreed to amend existing warrants that were previously issued on November 27, 2024 to the investor participating in the Offering to purchase up to 22,833 Ordinary Shares of the Company, with an exercise price of $90 per share. Such existing warrants have been amended to reduce the exercise price to $36 per share and now expire five years following the closing of the Offering. <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"> <tbody><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in;"></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in;">(4)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;">On April 29, 2025, the Company entered into an inducement exercise letter agreement with the Shareholder with respect to outstanding warrants to purchase up to an aggregate of 92,278 Ordinary Shares. Pursuant to the inducement exercise letter agreement, the Shareholder agreed to exercise for cash (i) warrants to purchase up to 22,833 Ordinary Shares, originally issued on November 27, 2024, and (ii) warrants to purchase up to 69,444 Ordinary Shares, originally issued on January 30, 2025 (collectively, the “Existing Warrants”), at a reduced exercise price of $13.05 per share. The warrant exercise resulted in gross proceeds to the Company of approximately $1.2 million ($1.04 million net proceeds after deducting underwriting discounts and commissions and other expenses). In consideration for the immediate exercise of the Existing Warrants, the Company issued to the Shareholder new warrants to purchase up to an aggregate of 184,556 Ordinary Shares at an exercise price of $13.05 per share (the “New Warrants”). The New Warrants were exercisable immediately upon issuance and were to expire five years from the date of issuance. The New Warrants were exercised as part of an inducement offer letter agreement with the Shareholder dated August 6, 2025.</td> </tr></tbody> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"> <tbody><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in;"></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in;">(5)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;">On August 6, 2025, the Company entered into an inducement offer letter agreement with the Shareholder. Pursuant to the Inducement Letter, the Shareholder agreed to exercise for cash its 184,556 New Warrants for aggregate gross proceeds of approximately $2.4 million ($2.2 million net proceeds) to the Company. According to the inducement letter, the Company committed to issue new warrants (the “August New Warrants”) to purchase up to 369,111 Ordinary Shares, at an exercise price of $15.39 per Ordinary Share. The issuance of the August New Warrants was subject to the Company’s shareholder approval which was obtained on October 24, 2025.</td> </tr></tbody> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"> <tbody><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in;"></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in;">(6)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;">On September 12, 2025, the Company completed a registered direct offering and a concurrent private placement with the Shareholder for the issuance and sale of 48,889 Ordinary Shares, 62,222 pre-funded warrants to purchase up to 62,222 Ordinary Shares in the registered direct offering and warrants to purchase up to 111,111 Ordinary Shares in the concurrent private placement, at a combined purchase price of $36 per Ordinary Share and accompanying warrant. The warrants issued pursuant to the concurrent private placement have an exercise price of $36 per Ordinary Share, are immediately exercisable and expire five years following the date of issuance. The Company received aggregate gross proceeds of approximately $4.0 million ($3.52 million net proceeds).</td> </tr></tbody> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"> <tbody><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in;"></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in;">(7)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;">On September 15, 2025, the Company completed a registered direct offering and a concurrent private placement with the Shareholder for the issuance and sale of 48,889 Ordinary Shares, 25,555 pre-funded warrants to purchase up to 25,555 Ordinary Shares in the registered direct offering, and warrants to purchase up to 74,444 ordinary shares in the concurrent private placement, at a combined purchase price of $54 per Ordinary Share and accompanying warrant. The warrants issued pursuant to the concurrent private placement have an exercise price of $54 per ordinary share, are immediately exercisable and expire five years following the date of issuance. The Company received aggregate gross proceeds of approximately $4.02 million ($3.55 million net proceeds).</td> </tr></tbody> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"> <tbody><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in;"></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in;">(8)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;">On October 29, 2025, the Company completed a registered direct offering and a concurrent private placement with the Shareholder for the issuance and sale of 72,778 Ordinary Shares, 63,889 pre-funded warrants to purchase up to 63,889 Ordinary Shares in the registered direct offering, and warrants to purchase up to 136,667 Ordinary Shares in the concurrent private placement, at a combined purchase price of $24.03 per Ordinary Share and accompanying warrant. The Company received aggregate gross proceeds of approximately $3.3 million ($2.9 million net proceeds).</td> </tr></tbody> </table> The issuance of the warrants in the concurrent private placement was subject to the approval of the Company’s shareholders which was obtained on February 19, 2026. Such warrants will have an exercise price of $24.03 per Ordinary Share, are immediately exercisable, and will expire five years from the date of approval by the Company’s shareholders. In addition, in connection with the October 29, 2025 transaction, the Company agreed to adjust the exercise price of the warrants issued in the registered direct offerings completed on September 12, 2025 and September 15, 2025 to $24.03 per Ordinary Share. Such exercise price adjustments, including the revised expiration date of five years from the date of approval by the Company’s shareholders, were subject to the approval of the Company’s shareholders which was obtained on February 19, 2026. <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"> <tbody><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in;"></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in;">(9)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;">On November 29, 2025, the Company entered into an additional inducement letter agreement with the Shareholder. Pursuant to the inducement letter agreement, the Shareholder agreed to exercise for cash its 369,111 August New Warrants issued in August 2025 at an exercise price of $15.39 per Ordinary Share, for aggregate gross proceeds of approximately $5.7 million to the Company ($5.14 million net proceeds). Out of the 369,111 ordinary shares issuable upon the exercise of the August New Warrants, the Company issued an aggregate of 149,000 Ordinary Shares. The remaining 220,111 Ordinary Shares, which were issuable to the Shareholder, were being held in abeyance due to Shareholder’s maximum beneficial ownership limitation (the “Abeyance Shares”). Such Abeyance Shares have been fully paid for and are issuable upon notice from Shareholder to the Company. During 2026, the Company issued all of the Abeyance Shares, upon the investor’s request. In consideration for such exercise, the Company agreed to issue to the Shareholder new warrants to purchase up to an aggregate of 645,944 Ordinary Shares. The issuance of such new warrants was subject to the approval of the Company’s shareholders which was obtained on February 19, 2026. The warrants have an exercise price of $16.74 per ordinary share, are immediately exercisable, and will expire five years from the date of approval by the Company’s shareholders.</td> </tr></tbody> </table> In April 2026, the Company entered into a warrant inducement agreement with the Shareholder, pursuant to which the Shareholder agreed to exercise for cash all of the outstanding warrants issued in connection with the Company’s September 12, 2025, September 15, 2025, October 29, 2025 and November 29, 2025 transactions, at an exercise price of $5.19 per Ordinary Share, for aggregate gross proceeds of approximately $5.02 million to the Company ($4.56 million net proceeds). In consideration for such exercise, the Company agreed to issue to the Shareholder new warrants to purchase up to an aggregate of 1,694,291 Ordinary Shares. The new warrants have an exercise price of $4.53 per Ordinary Share, are immediately exercisable and expire five years following the date of issuance. The incremental change in fair value of the change in exercise price of previously issued warrants was accounted for as an equity issuance cost in the amount of approximately $1,099 thousand, which was recorded to additional paid-in capital. The Company uses the Black-Scholes option pricing model to determine the incremental fair value of the warrants taking into consideration the following assumptions: expected volatility of 60%, dividend yield 0%, risk free interest rate of 3.86% and expected life of 5 years (4.8 years for the warrants before modification). b. Share-based compensation: b.1 Equity warrants to investors and associated with the IPO and follow on fund raising, as of June 30, 2026: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: left;">Number of warrants/ options</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center;">Issuance date</td> <td style="vertical-align: bottom; text-align: center; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: Black 1.5pt solid; text-align: center;">Exercise price</td> <td style="vertical-align: bottom; text-align: center; padding-bottom: 1.5pt;"> </td> <td style="vertical-align: bottom; text-align: center; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center;">Exercise ratio</td> <td style="vertical-align: bottom; text-align: center; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center;">Expiration date</td> <td style="vertical-align: bottom; text-align: center; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center;">Notes</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="vertical-align: top; width: 20%; text-align: left;">11,181</td> <td style="width: 1%;"> </td> <td style="vertical-align: top; width: 16%; text-align: center;">September 13, 2022</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">1,440</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="vertical-align: top; width: 16%; text-align: left;">Each warrant is exercisable into 1 Ordinary Share</td> <td style="width: 1%;"> </td> <td style="vertical-align: top; width: 16%; text-align: left;">5 years following the issuance date</td> <td style="width: 1%;"> </td> <td style="vertical-align: top; width: 16%; text-align: left;">Registered for trading</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="vertical-align: top; text-align: left;">260</td> <td> </td> <td style="vertical-align: top; text-align: center;">September 15, 2022</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">3,823.20</td> <td style="text-align: left;"> </td> <td> </td> <td style="vertical-align: top; text-align: left;">Each warrant is exercisable into 1 Ordinary Share</td> <td> </td> <td style="vertical-align: top; text-align: left;">5 years following the issuance date</td> <td> </td> <td style="vertical-align: top; text-align: left;">Owned by underwriter</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="vertical-align: top; text-align: left;">32</td> <td> </td> <td style="vertical-align: top; text-align: center;">September 15, 2022</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">3,045.60</td> <td style="text-align: left;"> </td> <td> </td> <td style="vertical-align: top; text-align: left;">Each warrant is exercisable into 1 Ordinary Share</td> <td> </td> <td style="vertical-align: top; text-align: left;">10 years following the issuance date</td> <td> </td> <td style="vertical-align: top; text-align: left;">Owned by the legal advisor</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="vertical-align: top; text-align: left;">1,694,291</td> <td> </td> <td style="vertical-align: top; text-align: center;">April 21, 2026</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">4.53</td> <td style="text-align: left;"> </td> <td> </td> <td style="vertical-align: top; text-align: left;">Each warrant is exercisable into 1 Ordinary Share</td> <td> </td> <td style="vertical-align: top; text-align: left;">5 years following the issuance date</td> <td> </td> <td style="vertical-align: top; text-align: left;">Owned by an investor (see also Note 4.a.10)</td> </tr></tbody></table> The reported sale prices of Company’s Ordinary Shares and warrants on Nasdaq were $2.59 and $11.20, respectively, as of August 21, 2026. b.2 Options to employees: Below is a summary of the Company’s option activity and related information with respect to options outstanding at the beginning and end of each period: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Number of Options</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Weighted-average exercise price</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; font-weight: bold; padding-bottom: 1.5pt;">Outstanding as of December 31, 2025</td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right;">5,627</td> <td style="width: 1%; padding-bottom: 1.5pt; text-align: left;"> </td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left;">$</td> <td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right;">129.27</td> <td style="width: 1%; padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td>Granted</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">6,111</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">9.33</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Expired and forfeited</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">(66</td> <td style="padding-bottom: 1.5pt; text-align: left;">)</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">580.94</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; padding-bottom: 1.5pt;">Outstanding as of June 30, 2026</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">11,672</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">67.21</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; padding-bottom: 4pt;">Exercisable as of June 30, 2026</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">2,712</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">231.72</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> During the six month period ended June 30, 2026, the Company granted 6,111 new options to purchase Ordinary Shares. b.3 Options to consultants: The Company’s outstanding options to consultants as of June 30, 2026 were as follows: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">Issuance date</td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">In connection with</td> <td style="font-weight: bold;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">No. of options issued</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Exercise price</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">No. of options exercisable</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 43%; text-align: left;">2015</td> <td style="width: 1%;"> </td> <td style="width: 20%; text-align: center;">Rendered services</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">154</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">2.16</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">154</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">2017</td> <td> </td> <td style="text-align: center;">Rendered services</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">51</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">2.16</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">51</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">2021</td> <td> </td> <td style="text-align: center;">Rendered services</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">96</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">2.16-$1,620.00 </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">96</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">2023</td> <td> </td> <td style="text-align: center;">Rendered services</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">139</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">393.12</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">62</td> <td style="text-align: left;"> </td> </tr></tbody></table> b.4 RSUs to employees and consultants: In August 2024, the Board approved the Company’s 2024 Global Equity Incentive Plan (the “Incentive Plan”), which provides for the issuance of up to 6,348 Ordinary Shares of the Company. On December 20, 2024, the Board approved an increase of the number of Ordinary Shares reserved under the Incentive Plan to 15,721. The Incentive Plan provides for the grant of options, shares, restricted shares or RSUs to employees, non-employee directors, consultants, advisors, or service providers of the Company, as well as employees, non-employee directors, consultants, advisors, or service providers of any affiliate of the Company. On September 9, 2025, the Board approved an additional increase of Ordinary Shares reserved under the Incentive Plan. Following such approval, the number of Ordinary Shares reserved under the Incentive Plan increased to 88,361. On November 27, 2025, the Board approved an additional increase in the number of Ordinary Shares, reserved for issuance under the Incentive Plan by 186,512 from 88,361 to 274,873. On February 19, 2026, the Board approved an additional increase in the number of Ordinary Shares reserved for issuance under the Incentive Plan by 159,079 from 274,873 to 433,952. On December 25, 2024, the Board approved the grant of 14,597 RSUs to employees and consultants, which will automatically result in the issuance of Ordinary Shares over a vesting period of between 12 months to 24 months, with the vesting starting on January 1, 2025. Any unvested RSUs will expire upon the termination of employment or service. The fair value of each RSU as of the grant date was $64.08, and total expenses of $934 thousand are being expensed over the RSUs vesting periods. On September 10, 2025, the Board approved the grant of 56,250 RSUs to employees and consultants, which will automatically result in the issuance of Ordinary Shares over a vesting period of between 12 months to 36 months, with the vesting starting on September 10, 2025. Any unvested RSUs will expire upon the termination of employment or service. The fair value of each RSU as of the grant date was $11.34, and total expenses of $1.12 million are being expensed over the RSUs vesting periods. On December 23, 2025, the Board approved the grant of 197,056 RSUs to employees, directors and consultants, which will automatically result in the issuance of Ordinary Shares over a vesting period of 36 months, with the vesting starting on January 1, 2026. Any unvested RSUs will expire upon the termination of employment or service. The fair value of each RSU as of the grant date was $16.65, and total expenses of $3.3 million are being expensed over the RSUs vesting periods. Of the total RSUs granted, 63,333 RSUs were subject to the approval of the Company’s shareholders at a shareholders’ meeting, which was held on February 19, 2026 and approved this grant. The fair value of such RSUs, was determined based on the market price of the Company’s Ordinary Shares on the date of shareholder approval, which differed from the fair value of the RSUs as approved by the Board on December 23, 2025. During the six month period ended June 30, 2026, the Company issued 40,092 Ordinary Shares upon the settlement of vested RSUs and did not grant any new RSUs to purchase Ordinary Shares.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"><tbody><tr style="vertical-align: top; text-align: justify;"><td style="width: 0.75in;"></td> <td style="width: 0.25in; text-align: left;">a.</td> <td style="text-align: justify;">Share capital:</td> </tr></tbody></table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 88%; font-weight: bold; padding-bottom: 1.5pt;">Outstanding as of December 31, 2025</td> <td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="width: 9%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">960,934</td> <td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-indent: -0.125in; padding-left: 0.125in;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left;">Issuance of ordinary shares associated with warrant exercise inducement transaction previously held in abeyance</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">220,111</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left;">Issuance of Ordinary Shares for the reverse split process (see note 1.c.)</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">16,075</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left;">Issuance of Ordinary Shares associated with warrant exercise inducement transaction (see note 4.a(5))</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">968,166</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt;">Issuance of Ordinary Shares upon vesting of RSUs</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">40,092</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1,244,444</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-indent: -0.125in; padding-left: 0.125in;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; padding-bottom: 4pt;">Outstanding as of June 30, 2026</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">2,205,378</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table>

960934

220111 16075 968166 40092 1244444

2205378

5208 1 2 1562 1562

2880

56 56

1440

7000 15833

15833

22833

81 7167 7167 8667 8667

1850000

1580000

9583

59861

69444

2500000

2200000

22833 90

92278

22833

69444

13.05

1200000

1040000.00

184556

13.05

184556

2400000

2200000

369111

15.39 48889

62222

111111

4000000

3520000 48889

25555

74444

4020000.00

3550000 72778

63889

136667 24.03

3300000

2900000

24.03

24.03 369111 15.39

5700000

5140000 369111 149000 220111

645944

16.74

5.19

5020000.00

4560000

1694291

4.53

1099000

0.60

0.0386

-4.8

b.1 Equity warrants to investors and associated with the IPO and follow on fund raising, as of June 30, 2026: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: left;">Number of warrants/ options</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center;">Issuance date</td> <td style="vertical-align: bottom; text-align: center; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: Black 1.5pt solid; text-align: center;">Exercise price</td> <td style="vertical-align: bottom; text-align: center; padding-bottom: 1.5pt;"> </td> <td style="vertical-align: bottom; text-align: center; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center;">Exercise ratio</td> <td style="vertical-align: bottom; text-align: center; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center;">Expiration date</td> <td style="vertical-align: bottom; text-align: center; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center;">Notes</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="vertical-align: top; width: 20%; text-align: left;">11,181</td> <td style="width: 1%;"> </td> <td style="vertical-align: top; width: 16%; text-align: center;">September 13, 2022</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">1,440</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="vertical-align: top; width: 16%; text-align: left;">Each warrant is exercisable into 1 Ordinary Share</td> <td style="width: 1%;"> </td> <td style="vertical-align: top; width: 16%; text-align: left;">5 years following the issuance date</td> <td style="width: 1%;"> </td> <td style="vertical-align: top; width: 16%; text-align: left;">Registered for trading</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="vertical-align: top; text-align: left;">260</td> <td> </td> <td style="vertical-align: top; text-align: center;">September 15, 2022</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">3,823.20</td> <td style="text-align: left;"> </td> <td> </td> <td style="vertical-align: top; text-align: left;">Each warrant is exercisable into 1 Ordinary Share</td> <td> </td> <td style="vertical-align: top; text-align: left;">5 years following the issuance date</td> <td> </td> <td style="vertical-align: top; text-align: left;">Owned by underwriter</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="vertical-align: top; text-align: left;">32</td> <td> </td> <td style="vertical-align: top; text-align: center;">September 15, 2022</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">3,045.60</td> <td style="text-align: left;"> </td> <td> </td> <td style="vertical-align: top; text-align: left;">Each warrant is exercisable into 1 Ordinary Share</td> <td> </td> <td style="vertical-align: top; text-align: left;">10 years following the issuance date</td> <td> </td> <td style="vertical-align: top; text-align: left;">Owned by the legal advisor</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="vertical-align: top; text-align: left;">1,694,291</td> <td> </td> <td style="vertical-align: top; text-align: center;">April 21, 2026</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">4.53</td> <td style="text-align: left;"> </td> <td> </td> <td style="vertical-align: top; text-align: left;">Each warrant is exercisable into 1 Ordinary Share</td> <td> </td> <td style="vertical-align: top; text-align: left;">5 years following the issuance date</td> <td> </td> <td style="vertical-align: top; text-align: left;">Owned by an investor (see also Note 4.a.10)</td> </tr></tbody></table>

11181

1440

Each warrant is exercisable into 1 Ordinary Share 5 years following the issuance date Registered for trading 260

3823.2

Each warrant is exercisable into 1 Ordinary Share 5 years following the issuance date Owned by underwriter 32

3045.6

Each warrant is exercisable into 1 Ordinary Share 10 years following the issuance date Owned by the legal advisor 1694291

4.53

Each warrant is exercisable into 1 Ordinary Share 5 years following the issuance date Owned by an investor (see also Note 4.a.10)

2.59

11.2

Below is a summary of the Company’s option activity and related information with respect to options outstanding at the beginning and end of each period: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Number of Options</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Weighted-average exercise price</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; font-weight: bold; padding-bottom: 1.5pt;">Outstanding as of December 31, 2025</td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right;">5,627</td> <td style="width: 1%; padding-bottom: 1.5pt; text-align: left;"> </td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left;">$</td> <td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right;">129.27</td> <td style="width: 1%; padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td>Granted</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">6,111</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">9.33</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Expired and forfeited</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">(66</td> <td style="padding-bottom: 1.5pt; text-align: left;">)</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">580.94</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; padding-bottom: 1.5pt;">Outstanding as of June 30, 2026</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">11,672</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">67.21</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; padding-bottom: 4pt;">Exercisable as of June 30, 2026</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">2,712</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">231.72</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table>

5627

129.27

6111

9.33

580.94

11672

67.21

2712

231.72

6111 The Company’s outstanding options to consultants as of June 30, 2026 were as follows: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">Issuance date</td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">In connection with</td> <td style="font-weight: bold;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">No. of options issued</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Exercise price</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">No. of options exercisable</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 43%; text-align: left;">2015</td> <td style="width: 1%;"> </td> <td style="width: 20%; text-align: center;">Rendered services</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">154</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">2.16</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">154</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">2017</td> <td> </td> <td style="text-align: center;">Rendered services</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">51</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">2.16</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">51</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">2021</td> <td> </td> <td style="text-align: center;">Rendered services</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">96</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">2.16-$1,620.00 </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">96</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">2023</td> <td> </td> <td style="text-align: center;">Rendered services</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">139</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">393.12</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">62</td> <td style="text-align: left;"> </td> </tr></tbody></table>

Rendered services

154

2.16

154

Rendered services

2.16

Rendered services

2.16

1620

Rendered services

139

393.12

6348

15721

88361

186512

88361

274873

159079 274873 433952

14597

P12M

P24M

64.08 934000

56250

P12M

P36M

11.34 1120000

197056

P36M

16.65 3300000

63333

40092

1000000 1000000

3.16

3300000 12000000 The share and per share information in these financial statements reflects the 1-for-3 reverse share split of the Company’s issued and outstanding ordinary shares that became effective on March 11, 2026 and an additional 1-for-3 reverse share split of the Company’s issued and outstanding ordinary shares that became effective on June 22, 2026 (together, the “Reverse Share Splits”). See also Note 1c. The share and per share information in these financial statements reflects the Reverse Share Splits. See also Note 1c. The share and per share information in these financial statements reflects the Reverse Share Splits. See also Note 1c. Represents an amount less than $500. Reclassified