Financial Performance - Revenues from product sales for the nine months ended September 30, 2025, were $68,000, a slight decrease from $69,000 for the same period in 2024[20] - The company reported a gross profit of $49,000 for the nine months ended September 30, 2025, compared to a gross loss of $41,000 for the same period in 2024[20] - The net loss attributable to the company's stockholders' equity for the nine months ended September 30, 2025, was $5,273,000, compared to a net loss of $3,820,000 for the same period in 2024[20] - The company experienced an operating loss of $4,779,000 for the nine months ended September 30, 2025, compared to an operating loss of $3,064,000 for the same period in 2024[20] - The company reported a comprehensive loss of $2,264,000 for the period ending June 30, 2024[26] - The Company reported a net loss of $5,439 for the nine months ended September 30, 2025, compared to a net loss of $3,684 in the same period of 2024[169] - Total expenses for the nine months ended September 30, 2025 were $4,617,000, an increase from $2,806,000 for the same period in 2024[209] Assets and Equity - Total current assets increased to $8,656,000 as of September 30, 2025, compared to $3,404,000 as of December 31, 2024, representing a 154% increase[17] - Total stockholders' equity increased to $8,930,000 as of September 30, 2025, from $4,749,000 as of December 31, 2024, marking an 88% increase[17] - The company reported total assets of $3,196 million as of September 30, 2025, an increase from $2,302 million as of December 31, 2024[76] Cash Flow and Financing - Cash and cash equivalents rose significantly to $6,044,000 as of September 30, 2025, compared to $2,154,000 as of December 31, 2024, indicating a 180% increase[17] - For the nine months ended September 30, 2024, the net cash used in operating activities was $2,311,000, a decrease from $2,927,000 in the same period of the previous year[30] - The company plans to continue securing financing through the sale of additional equity securities or capital inflows from strategic partnerships[48] Research and Development - Research and development expenses increased to $81,000 for the nine months ended September 30, 2025, up from $38,000 in the same period of 2024, reflecting a 113% increase[20] - Research and development expenses for the nine months ended September 30, 2025, totaled $81,000, up from $38,000 in 2024[205] Liabilities - The total liabilities measured at fair value increased to $463 million as of September 30, 2025, compared to $312 million as of December 31, 2024[80] - The company experienced a change in fair value of level 3 liabilities, resulting in an increase of $1,473 million during the period[80] Investments and Acquisitions - The Company completed the acquisition of 100% of MitoCareX on October 20, 2025, with an initial purchase price allocation estimating $4,506 of intangible assets and $5,792 of goodwill[171] - The Company fully impaired its investment in Plantify as of September 30, 2025, due to lack of market data and deterioration in Plantify's financial condition[92] - The Company entered into a loan agreement with MitoCareX for $250, bearing 3% annual interest, maturing in June 2025[93] Stock and Shareholder Information - The weighted average number of shares of common stock outstanding increased to 689,725 for the nine months ended September 30, 2025, from 143,160 for the same period in 2024[20] - The Company issued 418,261 shares of common stock valued at $1,672 for gross consideration of $3,335 in September 2025[160] - The Company issued 48,691 shares and warrants to purchase 267,858 shares at an exercise price of $8.40, receiving gross proceeds of $1,500[141] Operational Challenges - The company has an accumulated deficit of $40 million since inception, indicating ongoing financial challenges[46] - The company’s management expects to continue generating losses and negative cash flows for the foreseeable future[47] - The company is currently unable to predict the duration of the ongoing conflict in Israel, which may impact its operations and financial results[56] - The company continues to monitor the economic and geopolitical conditions affecting its business, particularly in Israel[55] Expenses Breakdown - Professional services expenses for the nine months ended September 30, 2025 were $1,853,000, up from $1,602,000 in 2024, reflecting a growth of 15.66%[209] - Share-based compensation for the nine months ended September 30, 2025 was $2,141,000, significantly higher than $814,000 in 2024, indicating an increase of 163.78%[209] - Legal expenses for the nine months ended September 30, 2025 were $273,000, compared to $151,000 in 2024, representing an increase of 80.79%[209] - Salaries and related expenses for the nine months ended September 30, 2025 were $131,000, a notable increase from $34,000 in 2024[209] - Insurance expenses for the nine months ended September 30, 2025 were $111,000, a slight decrease from $124,000 in 2024[209] - Registration fees for the nine months ended September 30, 2025 were $61,000, up from $39,000 in 2024, reflecting a growth of 56.41%[209]
Save Foods(SVFD) - 2025 Q3 - Quarterly Report