10-Q Filing

ODYSIGHT.AI INC. CIK: 1577445 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001493152-20-011573`
Period End Date	20200331
Filing Date	20200622
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	sctc-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 22 Cash Flow Statement 55 Stockholders Equity 15

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.85M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	28.84M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.88M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.25M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	28.84M	shares	Point-in-time
Accounts receivables	`AccountsReceivableNetCurrent`	$12.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.88M	shares	Point-in-time
Accounts receivables	`AccountsReceivableNetCurrent`	$22.00K	USD	Point-in-time
Inventory	`InventoryNet`	$1.04M	USD	Point-in-time
Inventory	`InventoryNet`	$900.00K	USD	Point-in-time
Parent company	`DueFromAffiliateCurrent`	$73.00K	USD	Point-in-time
Parent company	`DueFromAffiliateCurrent`	$48.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$256.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$78.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.32M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.21M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$59.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$108.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$53.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$72.00K	USD	Point-in-time
Severance pay asset	`SeverancePayAsset`	$327.00K	USD	Point-in-time
Severance pay asset	`SeverancePayAsset`	$289.00K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$439.00K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$469.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.68M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.76M	USD	Point-in-time
Accounts payables	`AccountsPayableCurrent`	$40.00K	USD	Point-in-time
Accounts payables	`AccountsPayableCurrent`	$35.00K	USD	Point-in-time
Loan from Parent company	`DueToAffiliateCurrent`	$500.00K	USD	Point-in-time
Loan from Parent company	`DueToAffiliateCurrent`	$378.00K	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$502.00K	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$546.00K	USD	Point-in-time
Operating lease liabilities - short term	`OperatingLeaseLiabilityCurrent`	$32.00K	USD	Point-in-time
Operating lease liabilities - short term	`OperatingLeaseLiabilityCurrent`	$24.00K	USD	Point-in-time
Accrued compensation expenses	`EmployeeRelatedLiabilitiesCurrent`	$297.00K	USD	Point-in-time
Accrued compensation expenses	`EmployeeRelatedLiabilitiesCurrent`	$273.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$351.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$552.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.91M	USD	Point-in-time
Operating lease liabilities - long term	`OperatingLeaseLiabilityNoncurrent`	$40.00K	USD	Point-in-time
Operating lease liabilities - long term	`OperatingLeaseLiabilityNoncurrent`	$29.00K	USD	Point-in-time
Liability for severance pay	`LiabilityForSeverancePay`	$297.00K	USD	Point-in-time
Liability for severance pay	`LiabilityForSeverancePay`	$296.00K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$337.00K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$325.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.23M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.96M	USD	Point-in-time
Ordinary shares Common stock, $0.001 par value; 75,000,000 shares authorized, 28,844,425 and 26,884,921 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$27.00K	USD	Point-in-time
Ordinary shares Common stock, $0.001 par value; 75,000,000 shares authorized, 28,844,425 and 26,884,921 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$29.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.74M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.13M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.64M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$157.00K	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$2.52M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$2.72M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$-118.00K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$4.68M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$4.76M	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$24.00K	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$40.00K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$130.00K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$109.00K	USD	1 Quarter
Gross Loss	`GrossProfit`	$-90.00K	USD	1 Quarter
Gross Loss	`GrossProfit`	$-85.00K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$87.00K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$255.00K	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$41.00K	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$52.00K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$116.00K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.11M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.51M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-329.00K	USD	1 Quarter
Financing income, net	`InterestAndDebtExpense`	$96.00K	USD	1 Quarter
Financing income, net	`InterestAndDebtExpense`	-	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.41M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-329.00K	USD	1 Quarter
Net loss per ordinary share (basic and diluted, USD)	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Net loss per ordinary share (basic and diluted, USD)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Weighted average ordinary shares (basic and diluted, in thousands)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	27,488.00	shares	1 Quarter
Weighted average ordinary shares (basic and diluted, in thousands)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16,131.00	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-329.00K	USD	1 Quarter
Depreciation	`Depreciation`	$11.00K	USD	1 Quarter
Depreciation	`Depreciation`	$1.00K	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$-39.00K	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$-19.00K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$682.00K	USD	1 Quarter
Profit from exchange differences on cash and cash equivalents	`ForeignCurrencyTransactionGainLossBeforeTax`	-	USD	1 Quarter
Profit from exchange differences on cash and cash equivalents	`ForeignCurrencyTransactionGainLossBeforeTax`	$96.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-87.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-10.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$218.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$125.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-29.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$53.00K	USD	1 Quarter
Accounts payables	`IncreaseDecreaseInAccountsPayable`	$-18.00K	USD	1 Quarter
Accounts payables	`IncreaseDecreaseInAccountsPayable`	$5.00K	USD	1 Quarter
Parent company	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$16.00K	USD	1 Quarter
Parent company	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$76.00K	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseInOtherEmployeeRelatedLiabilities`	-	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseInOtherEmployeeRelatedLiabilities`	$44.00K	USD	1 Quarter
Accrued compensation expenses	`IncreaseDecreaseInWorkersCompensationLiabilities`	$-24.00K	USD	1 Quarter
Accrued compensation expenses	`IncreaseDecreaseInWorkersCompensationLiabilities`	$8.00K	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-201.00K	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-17.00K	USD	1 Quarter
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-514.00K	USD	1 Quarter
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.14M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$185.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-185.00K	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Loan repayment to Parent company	`RepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Loan repayment to Parent company	`RepaymentsOfRelatedPartyDebt`	$81.00K	USD	1 Quarter
Transfer from Parent company	`ProceedsFromTransferAffiliates`	$514.00K	USD	1 Quarter
Transfer from Parent company	`ProceedsFromTransferAffiliates`	-	USD	1 Quarter
Capital Contribution from Parent company	`ProceedsFromContributionsFromAffiliates`	$90.00K	USD	1 Quarter
Proceeds from issuance of shares and warrants	`ProceedsFromIssuanceOfSharesAndWarrants`	-	USD	1 Quarter
Proceeds from issuance of shares and warrants	`ProceedsFromIssuanceOfSharesAndWarrants`	$909.00K	USD	1 Quarter
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$604.00K	USD	1 Quarter
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$828.00K	USD	1 Quarter
PROFIT FROM EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	1 Quarter
PROFIT FROM EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$96.00K	USD	1 Quarter
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-398.00K	USD	1 Quarter
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$90.00K	USD	1 Quarter
BALANCE OF CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.25M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$90.00K	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.85M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.25M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$90.00K	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.85M	USD	Point-in-time
Parent Company loan settled against Parent Company receivable	`ParentCompanyLoanSettledAgainstParentCompanyReceivable`	-	USD	1 Quarter
Parent Company loan settled against Parent Company receivable	`ParentCompanyLoanSettledAgainstParentCompanyReceivable`	$41.00K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$157.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$2.52M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$-118.00K	USD	Point-in-time
Net transfer from Parent company	`StockIssuedDuringPeriodValueNetTransferFromParentCompany`	$514.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-329.00K	USD	1 Quarter
Consummation of the Carve-out	`AdjustmentsToAdditionalPaidInCapitalConsummationOfCarveout`	-	USD	1 Quarter
Capital contribution from Parent company	`AdjustmentsToAdditionalPaidInCapitalContributionFromParentCompany`	$90.00K	USD	1 Quarter
Issuance of shares and warrants	`StockIssuedDuringPeriodValueOfSharesAndWarrants`	$909.00K	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$701.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$157.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$2.52M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$-118.00K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.