Financial Performance - IM Cannabis Corp. reported a quarterly loss of $0.17 per share, significantly better than the Zacks Consensus Estimate of a loss of $0.84, and an improvement from a loss of $1.14 per share a year ago, representing an earnings surprise of 79.76% [1] - The company posted revenues of $10.78 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 12.07%, and up from $9.83 million in the same quarter last year [2] Stock Performance - IM Cannabis shares have increased approximately 28.9% since the beginning of the year, outperforming the S&P 500's gain of 13.9% [3] - The current Zacks Rank for IM Cannabis is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.81 on revenues of $10.11 million, and for the current fiscal year, it is -$4.32 on revenues of $38.99 million [7] - The estimate revisions trend for IM Cannabis is mixed, and changes in earnings expectations may occur following the recent earnings report [6] Industry Context - The Medical - Products industry, to which IM Cannabis belongs, is currently ranked in the top 39% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]

Financial Performance - Revenues for the six months ended June 30, 2024, increased to CAD 26,813 thousand, up from CAD 25,736 thousand for the same period in 2023, reflecting a growth of 4.2%[8] - Gross profit before fair value adjustments decreased to CAD 2,648 thousand for the six months ended June 30, 2024, compared to CAD 6,977 thousand in the prior year, a decline of 62.0%[8] - Operating loss increased to CAD 8,499 thousand for the six months ended June 30, 2024, compared to CAD 5,368 thousand in the same period of 2023, an increase of 58.8%[8] - Net loss for the six months ended June 30, 2024, was CAD 9,476 thousand, compared to a net loss of CAD 4,572 thousand for the same period in 2023, indicating an increase of 107.5%[8] - Total comprehensive loss for the six months ended June 30, 2024, was CAD 7,918 thousand, compared to CAD 4,731 thousand for the same period in 2023, an increase of 67.5%[8] - The net loss attributable to equity holders for the six months ended June 30, 2024, was CAD 8,652,000, compared to CAD 4,059,000 for the same period in 2023, representing an increase of 113%[9] - Basic and diluted loss per share for the six months ended June 30, 2024, was CAD 0.65, compared to CAD 0.33 for the same period in 2023, reflecting a 97% increase[9] Assets and Liabilities - Total assets decreased from CAD 48,813 thousand as of December 31, 2023, to CAD 40,216 thousand as of June 30, 2024, representing a decline of approximately 17.7%[2] - Current liabilities rose to CAD 33,403 thousand as of June 30, 2024, from CAD 32,808 thousand as of December 31, 2023, an increase of 1.8%[5] - Total liabilities decreased slightly from CAD 35,113 thousand as of December 31, 2023, to CAD 34,735 thousand as of June 30, 2024, a decrease of 1.1%[5] - The total equity as of June 30, 2024, was CAD 5,481,000, down from CAD 23,797,000 as of January 1, 2023, indicating a decline in equity[11] Cash Flow - Cash provided by operating activities for the six months ended June 30, 2024, was CAD 368,000, a significant improvement from a cash used of CAD 13,212,000 in the same period of 2023[14] - Net cash used in investing activities for the six months ended June 30, 2024, was CAD 398,000, compared to CAD 553,000 for the same period in 2023[16] - Net cash provided by financing activities for the six months ended June 30, 2024, was CAD 643,000, a decrease from CAD 10,677,000 in the same period of 2023[16] - The cash and cash equivalents at the end of the period on June 30, 2024, were CAD 700,000, down from CAD 1,321,000 at the end of June 30, 2023[16] Inventory and Cost of Goods Sold - As of June 30, 2024, total inventory amounted to $5,719 thousand, a decrease from $9,976 thousand as of December 31, 2023, reflecting a reduction of approximately 42.7%[97][98] - During the six months ended June 30, 2024, the cost of goods sold for cannabis products was $22,586 thousand, compared to $17,716 thousand for the same period in 2023, representing an increase of approximately 27.6%[98] Corporate Actions and Strategies - The Company exited its operations in Canada, with the Canadian entities sold for a purchase price of $3,375, resulting in no proceeds to the Company[40] - The Company recorded restructuring expenses of $4,383 related to the closure of the "Sde Avraham" cultivation facility in Israel[45] - A cost-saving plan was approved in 2023, focusing on reducing payroll, headcount, and operational efficiencies to save costs in 2024[29] - The Company announced a strategy plan in Israel to strengthen core activities and drive efficiencies, including workforce reductions completed by mid-2023[46] - A proposed business combination with Kadimastem Ltd. will result in a reverse merger, changing the Company's focus from medical cannabis to biotechnology[47] - The Legacy Business will be available for potential sale for up to 12 months from the closing of the proposed transaction, with proceeds used to settle debts[51] Financing and Debt - IM Cannabis Corp. signed a loan agreement with Kadimastem for up to US$650,000, with a 9% annual interest rate, to be funded in two installments[53][54] - The company announced the termination of the loan agreement with Kadimastem, requiring repayment of US$300,000 plus 9% interest in three installments by July 31, 2024[55] - A short-term loan agreement was entered into on July 1, 2024, for $1,113,000 with an annual interest rate of 12%[127] - The company closed a private placement of secured convertible debentures for aggregate proceeds of $2,092, convertible at $0.85 per share[75] Compliance and Regulatory Matters - Nasdaq notified the company that its share price fell below US$1.00 for 30 consecutive business days, requiring compliance by January 16, 2024[56] - The company received a 180-day extension from Nasdaq until July 29, 2024, to regain compliance with the minimum share price requirement[57] - IM Cannabis Corp. was assessed excise tax totaling CAD 199, with additional penalties, for the years 2020 and 2021, but objections were filed[59][60] Shareholder Information - As of June 30, 2024, the company had 13,394,136 common shares issued and outstanding, unchanged from December 31, 2023[106][112] - The company consolidated its common shares on July 12, 2024, reducing the total from 13,394,136 to 2,232,357 shares[128] - On July 26, 2024, the company received notice from Nasdaq confirming compliance with the minimum bid price requirement[129]

Core Insights - IM Cannabis Corp. will report its operational and financial results for Q2 2024 on August 14, 2024, before market opens [1] - A Zoom web conference will be held on the same day at 9:00 am ET to discuss the results, followed by a Q&A session for investors [2] Company Overview - IM Cannabis Corp. is a leading international cannabis company focused on providing premium cannabis products to medical patients in Israel and Germany, which are significant medical cannabis markets [3] - The company aims for sustainable and profitable growth by leveraging a data-driven approach and a globally sourced product supply chain [3] - IM Cannabis is committed to responsible growth and compliance with strict regulatory environments to enhance its commercial and brand power [3] Operations - In Israel, the company operates through Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, utilizing proprietary data and patient insights [4] - The company also runs medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel to ensure safe delivery and quality control of its products [4] - In Germany, IM Cannabis operates through Adjupharm GmbH, distributing cannabis to pharmacies for medical cannabis patients [4]

This press release contains forward-looking information or forward-looking statements under applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forwardlooking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "likely" and "intend" and statements that an e ...

After giving effect to the Consolidation, the Common Shares were reduced from 13,394,136 to 2,232,357 Common Shares. No fractional Common Shares were issued in connection with the Consolidation. Instead, all fractional Common Shares equal to or greater than one-half resulting from the Consolidation were rounded to the next whole number, otherwise, the fractional Common Share were cancelled. The exercise price and/or conversion price and number of Common Shares issuable under any of the Company's outstanding ...

IMC Germany's accelerated growth potential leans strongly on its supply strategy through its ability to partner with cannabis growers for EU-GMP certification, bolstering the company's supply chain with exclusive product TORONTO and GLIL YAM, Israel, June 5, 2024 /PRNewswire/ -- IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the "Company," "IMCannabis," or "IMC"), a leading medical cannabis company with operations in Israel and Germany, is experiencing accelerated growth in Germany after the April 1st partia ...

Core Viewpoint - IM Cannabis Corp. is focusing on cost management and financial restructuring to support growth in Germany following recent legalization, having reduced its annual G&A costs by 49% in 2023 and planning to lower financial costs through debt renegotiation [1][3]. Financial Developments - The company closed a non-brokered private placement of secured convertible debentures, raising a total of $2,091,977, aimed at preserving cash for growth initiatives in Germany [2]. - The debentures will mature on May 26, 2025, and will not incur interest unless there is a default, with a conversion price set at $0.85 per share [2]. Insider Transactions - Oren Shuster, CEO of IM Cannabis, subscribed for $237,214 of debentures in the offering, which is classified as a related party transaction [4]. - The company intends to rely on exemptions from formal valuation and minority shareholder approval requirements due to the transaction's value being below 25% of the company's market capitalization [4]. Shareholder Information - Following the acquisition of the debenture, Oren Shuster's total holdings include 1,872,870 shares, 856,704 warrants, 131,250 stock options, and the debenture, representing approximately 1.8% of the company's issued shares on a non-diluted basis and 23.44% on a partially diluted basis [6]. Company Overview - IM Cannabis Corp. is a leading medical cannabis company operating in Israel and Germany, focusing on premium cannabis products for medical patients [10]. - The company has exited operations in Canada to concentrate resources on achieving sustainable growth in its highest value markets, Israel and Germany [10][11].

Company Overview - IM Cannabis Corp. (IMC) is a leading medical cannabis company with operations in Israel and Germany, focusing on premium cannabis products for medical patients [3] - The company has exited operations in Canada to concentrate resources on sustainable growth in its highest value markets, Israel and Germany [3] Recent Developments - Following the legalization of cannabis in Germany on April 1, 2024, IMC has experienced accelerated growth, which is expected to continue [2] - The company has terminated a preliminary term sheet with Kadimastem Ltd, resulting in a repayment of a loan totaling $300,000 with 9% annual interest, to be completed by July 31, 2024 [2] Market Position - IMC operates a transnational ecosystem that includes partnerships with Focus Medical Herbs Ltd. in Israel and Adjupharm GmbH in Germany, facilitating the distribution of cannabis to medical patients [4] - The company aims to amplify its commercial and brand power to become a global player in the high-quality cannabis market [3]

IM Cannabis Corp. (IMCC) came out with a quarterly loss of $0.16 per share in line with the Zacks Consensus Estimate. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post a loss of $0.16 per share when it actually produced a loss of $0.18, delivering a surprise of -12.50%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.IM Cannabis, which belongs to the Z ...

[Interim Condensed Consolidated Financial Statements](index=3&type=section&id=Interim%20Condensed%20Consolidated%20Financial%20Statements) [Interim Condensed Consolidated Statements of Financial Position](index=3&type=section&id=Interim%20Condensed%20Consolidated%20Statements%20of%20Financial%20Position) As of March 31, 2024, total assets decreased to **$41,109 thousand** from **$48,813 thousand** at year-end 2023, total liabilities to **$32,765 thousand**, and total equity to **$8,344 thousand**, resulting in a **$10,518 thousand** working capital deficit Consolidated Statement of Financial Position (in thousands CAD) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total Current Assets** | $19,967 | $24,265 | | **Total Non-Current Assets** | $21,142 | $24,548 | | **Total Assets** | **$41,109** | **$48,813** | | **Total Current Liabilities** | $30,485 | $32,808 | | **Total Non-Current Liabilities** | $2,280 | $2,305 | | **Total Liabilities** | **$32,765** | **$35,113** | | **Total Equity** | **$8,344** | **$13,700** | - The company's working capital (Current Assets - Current Liabilities) as of March 31, 2024, was negative, indicating a deficit of **$10,518 thousand**[29](index=29&type=chunk) [Interim Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income](index=5&type=section&id=Interim%20Condensed%20Consolidated%20Statements%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For Q1 2024, revenues slightly decreased to **$12,063 thousand**, gross profit sharply declined to **$1,779 thousand**, and the net loss attributable to equity holders significantly widened to **$5,623 thousand**, resulting in a **$0.42** loss per share Statement of Profit or Loss Highlights (in thousands CAD) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Revenues | $12,063 | $12,529 | | Gross Profit | $1,779 | $2,904 | | Total Operating Expenses | $7,409 | $6,521 | | Operating Loss | ($5,630) | ($3,617) | | Net Loss | ($6,020) | ($866) | | Net Loss attributable to Equity Holders | ($5,623) | ($600) | Loss Per Share (in CAD) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Basic and Diluted Loss Per Share | ($0.42) | ($0.05) | - Other operating expenses of **$2,750 thousand** were recorded in Q1 2024, which were not present in the prior year period, primarily related to a goodwill impairment[8](index=8&type=chunk)[101](index=101&type=chunk) [Interim Condensed Consolidated Statements of Changes in Equity](index=8&type=section&id=Interim%20Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Equity) Total equity decreased from **$13,700 thousand** at January 1, 2024, to **$8,344 thousand** by March 31, 2024, primarily due to a **$6,020 thousand** net loss, partially offset by other comprehensive income Equity Reconciliation for Q1 2024 (in thousands CAD) | Description | Amount | | :--- | :--- | | **Balance as of January 1, 2024** | **$13,700** | | Net loss | ($6,020) | | Total other comprehensive income | $1,362 | | Classification | ($730) | | Share-based compensation | $32 | | **Balance as of March 31, 2024** | **$8,344** | [Interim Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Interim%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2024, net cash used in operating activities significantly improved to **($629) thousand**, while financing activities used **($852) thousand**, leading to a **($765) thousand** decrease in cash and cash equivalents, ending the period at **$1,048 thousand** Consolidated Statement of Cash Flows (in thousands CAD) | Cash Flow Activity | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | ($629) | ($6,061) | | Net cash used in investing activities | ($2) | ($467) | | Net cash (used in) provided by financing activities | ($852) | $6,557 | | **Decrease in cash and cash equivalents** | **($765)** | **($1,030)** | | **Cash and cash equivalents at end of period** | **$1,048** | **$1,419** | [Notes to Interim Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Interim%20Condensed%20Consolidated%20Financial%20Statements) [NOTE 1:- GENERAL](index=11&type=section&id=NOTE%201:-%20GENERAL) This note outlines the company's operations, significant liquidity challenges, going concern risks, strategic developments including a potential reverse merger, and ongoing legal and regulatory matters [Corporate Information and Operations](index=11&type=section&id=Corporate%20Information%20and%20Operations) IM Cannabis Corp. is listed on the CSE and NASDAQ, with primary revenue from medical cannabis sales in Israel and Germany, having ceased Canadian operations in November 2022 - The **majority** of the Group's revenues are generated from sales of medical cannabis products to customers in Israel, with the remainder from Germany[20](index=20&type=chunk) - The company has **exited its operations in Canada**, with related entities deconsolidated on **November 7, 2022**[24](index=24&type=chunk) [Liquidity and Going Concern](index=12&type=section&id=Liquidity%20and%20Going%20Concern) The company faces significant liquidity challenges, including a **$10,518 thousand** working capital deficit and **$255,431 thousand** accumulated deficit, raising substantial doubt about its ability to continue as a going concern Key Financial Indicators as of March 31, 2024 (in thousands CAD) | Metric | Amount | | :--- | :--- | | Cash and cash equivalents | $1,048 | | Working capital deficit | ($10,518) | | Accumulated deficit | $255,431 | | Q1 2024 Operating loss | ($5,630) | | Q1 2024 Negative operating cash flow | ($662) | - The company's financial condition raises **substantial doubt about its ability to continue as a going concern**[32](index=32&type=chunk) [Strategic Developments and Transactions](index=13&type=section&id=Strategic%20Developments%20and%20Transactions) The company is pursuing a potential reverse merger with Kadimastem to pivot to biotechnology, has formally exited Canadian operations, and implemented restructuring in Israel to enhance efficiency - On **February 13, 2024**, the company entered a non-binding term sheet for a potential reverse merger with Kadimastem, where existing IMCC shareholders would hold **12%** of the new entity, and the legacy cannabis business would be spun out as a contingent value right[50](index=50&type=chunk)[51](index=51&type=chunk)[52](index=52&type=chunk) - The company has **exited operations in Canada** through CCAA proceedings, and IMCC will likely realize **no return** from the restructuring[37](index=37&type=chunk)[42](index=42&type=chunk)[44](index=44&type=chunk) - The company implemented a **restructuring plan in Israel** in 2023, involving workforce reductions and operational changes to drive efficiencies and achieve sustainable profitability[49](index=49&type=chunk) [Legal and Regulatory Matters](index=16&type=section&id=Legal%20and%20Regulatory%20Matters) The company faces NASDAQ non-compliance for its stock price, is contesting Canadian excise tax assessments for 2020 and 2021, and is defending a **$15 million** lawsuit alleging misrepresentation - The company is **not in compliance** with NASDAQ's minimum bid price rule and has until **July 29, 2024**, to regain compliance[58](index=58&type=chunk)[59](index=59&type=chunk) - The company is **contesting Notices of Assessment** for Canadian Excise Tax for **2020 and 2021**, believing its objections may lead to the assessments being vacated[61](index=61&type=chunk)[62](index=62&type=chunk)[63](index=63&type=chunk) - A complaint seeking **$15 million** in damages was filed against the company and certain directors/officers by former shareholders of MYM Nutraceuticals Inc., alleging misrepresentations related to its 2021 acquisition, which the company disputes[64](index=64&type=chunk)[65](index=65&type=chunk) [Other Corporate Matters](index=18&type=section&id=Other%20Corporate%20Matters) The company revoked the Oranim pharmacy acquisition post-quarter end, received approval to acquire the remaining interest in Focus Medical Herbs Ltd., and noted a negative impact on operations from the Israel-Hamas war - An amendment signed on **January 10, 2024**, postponed unpaid installments for the Oranim pharmacy acquisition, with failure to pay by **April 15, 2024**, leading to revocation[72](index=72&type=chunk) - The company exercised its option to purchase the remaining **74%** interest in Focus, with regulatory approval received on **February 25, 2024**[73](index=73&type=chunk) - The Israel-Hamas war, which began on **October 7, 2023**, has had a **negative impact** on the company's business operations, affecting employees, supplies, imports, and sales[75](index=75&type=chunk) [NOTE 2:- SIGNIFICANT ACCOUNTING POLICIES](index=20&type=section&id=NOTE%202:-%20SIGNIFICANT%20ACCOUNTING%20POLICIES) The interim condensed consolidated financial statements are prepared under IAS 34, with recent amendments to IAS 1, IFRS 16, IAS 7, and IFRS 7 adopted from January 1, 2024, having no material impact - The financial statements have been prepared in accordance with **IAS 34, "Interim Financial Reporting"**[76](index=76&type=chunk) - New amendments to **IAS 1, IFRS 16, IAS 7, and IFRS 7** became applicable on **January 1, 2024**, and had no impact on the company's interim financial statements[77](index=77&type=chunk)[78](index=78&type=chunk)[79](index=79&type=chunk) [NOTE 3:- INVENTORIES](index=22&type=section&id=NOTE%203:-%20INVENTORIES) Total inventory decreased to **$7,901 thousand** as of March 31, 2024, from **$9,976 thousand** at year-end 2023, primarily consisting of bulk and packaged dried cannabis Inventory Breakdown (in thousands CAD) | Category | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Bulk cannabis (Work in progress) | $3,272 | $3,735 | | Packaged dried cannabis (Finished goods) | $4,196 | $5,651 | | Other products (Finished goods) | $433 | $590 | | **Total Inventory** | **$7,901** | **$9,976** | [NOTE 4:- FINANCIAL INSTRUMENTS](index=23&type=section&id=NOTE%204:-%20FINANCIAL%20INSTRUMENTS) Warrant liabilities are measured at fair value using the Black & Scholes model, resulting in a **$100 thousand** finance expense in Q1 2024, a significant shift from **$3,636 thousand** finance income in Q1 2023 - Liability for Warrants is measured at fair value using the **Black & Scholes model** (Level 3)[88](index=88&type=chunk) - The revaluation of warrants measured at fair value resulted in a finance expense of **$100 thousand** for Q1 2024, compared to finance income of **$3,636 thousand** in Q1 2023[88](index=88&type=chunk) [NOTE 5:- EQUITY](index=24&type=section&id=NOTE%205:-%20EQUITY) As of March 31, 2024, the company had **13,394,136** issued common shares and **325,452** outstanding share options, following a 10-for-1 share consolidation in November 2022 Share Capital Composition | Class | Authorized | Issued and Outstanding (Mar 31, 2024) | | :--- | :--- | :--- | | Common Shares | Unlimited | 13,394,136 | - In January and February 2023, the company completed a LIFE Offering and a Concurrent Offering, issuing a combined total of **5,145,419 units** at **US$1.25 per unit**[91](index=91&type=chunk)[94](index=94&type=chunk) Share Option Movement Q1 2024 | Status | Number of Options | | :--- | :--- | | Outstanding at beginning of period | 325,452 | | Forfeited during the period | 0 | | **Outstanding at end of period** | **325,452** | | Exercisable at end of period | 309,184 | [NOTE 6:- SELECTED STATEMENTS OF PROFIT OR LOSS DATA](index=26&type=section&id=NOTE%206:-%20SELECTED%20STATEMENTS%20OF%20PROFIT%20OR%20LOSS%20DATA) Selected expenses, including salaries and depreciation, decreased in Q1 2024 compared to the prior year, reflecting the company's cost-saving measures Selected Expenses (in thousands CAD) | Expense Category | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Salaries and related expenses | $1,878 | $2,458 | | Depreciation and amortization | $680 | $809 | [NOTE 7:- NET EARNINGS (LOSS) PER SHARE](index=26&type=section&id=NOTE%207:-%20NET%20EARNINGS%20(LOSS)%20PER%20SHARE) The basic and diluted net loss per share significantly increased to **$0.42** for Q1 2024, up from **$0.05** in Q1 2023, driven by a larger net loss and higher weighted average shares outstanding Net Loss Per Share Calculation | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net loss attributable to equity holders (thousands CAD) | ($5,623) | ($600) | | Weighted average number of shares (thousands) | 13,394 | 11,308 | | **Basic and Diluted Loss per Share (CAD)** | **($0.42)** | **($0.05)** | [NOTE 8:- OPERATING SEGMENTS](index=27&type=section&id=NOTE%208:-%20OPERATING%20SEGMENTS) The company operates in Israel and Germany, with Israel generating the majority of Q1 2024 revenue at **$10,911 thousand** but also incurring a larger segment loss of **$4,508 thousand** Segment Performance for Q1 2024 (in thousands CAD) | Segment | Revenue | Segment Loss | | :--- | :--- | :--- | | Israel | $10,911 | ($4,508) | | Germany | $1,152 | ($316) | Segment Performance for Q1 2023 (in thousands CAD) | Segment | Revenue | Segment Loss | | :--- | :--- | :--- | | Israel | $11,437 | ($1,618) | | Germany | $1,092 | ($557) | [NOTE 9:- SUBSEQUENT EVENTS](index=28&type=section&id=NOTE%209:-%20SUBSEQUENT%20EVENTS) Subsequent to quarter-end, the company revoked the Oranim Pharmacy acquisition, resulting in a **$2,753 thousand** goodwill reduction, and secured new and extended existing loans totaling approximately **$1,692 thousand** - On **April 16, 2024**, the company revoked the Oranim Pharmacy acquisition, transferring its **51%** shareholding back to the seller and recording a goodwill reduction of **$2,753 thousand** as of March 31, 2024[101](index=101&type=chunk) - On **April 17, 2024**, a subsidiary entered into a new one-year loan agreement for approximately **$1,082 thousand** with a **15%** annual interest rate[102](index=102&type=chunk) - On **April 17, 2024**, an existing loan of approximately **$610 thousand** was extended to **April 18, 2025**, with an annual interest rate of **17%**[102](index=102&type=chunk)