10-K Filing

ODYSIGHT.AI INC. CIK: 1577445 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001493152-22-008167`
Period End Date	20211231
Filing Date	20220330
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 28 Cash Flow Statement 70 Stockholders Equity 15

Balance Sheet 69 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`	300.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.37M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.08M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.12M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.58M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.12M	shares	Point-in-time
Short terms deposits	`DepositsAssetsCurrent`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.08M	shares	Point-in-time
Short terms deposits	`DepositsAssetsCurrent`	$11.01M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$17.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$8.00K	USD	Point-in-time
Inventory	`InventoryGross`	$167.00K	USD	Point-in-time
Inventory	`InventoryGross`	$244.00K	USD	Point-in-time
Medigus receivable	`AccountsReceivableRelatedPartiesCurrent`	-	USD	Point-in-time
Medigus receivable	`AccountsReceivableRelatedPartiesCurrent`	$47.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$348.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$443.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.03M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.21M	USD	Point-in-time
Contract fulfillment assets	`ContractWithCustomerAssetNetNoncurrent`	$1.13M	USD	Point-in-time
Contract fulfillment assets	`ContractWithCustomerAssetNetNoncurrent`	$1.68M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$269.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$781.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$107.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$482.00K	USD	Point-in-time
Severance pay asset	`SeverancePayAsset`	$396.00K	USD	Point-in-time
Severance pay asset	`SeverancePayAsset`	$360.00K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$1.87M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$3.33M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$23.55M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.89M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$103.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$79.00K	USD	Point-in-time
Contract liabilities - short term	`ContractWithCustomerLiabilityCurrent`	$346.00K	USD	Point-in-time
Contract liabilities - short term	`ContractWithCustomerLiabilityCurrent`	$69.00K	USD	Point-in-time
Operating lease liabilities - short term	`OperatingLeaseLiabilityCurrent`	$60.00K	USD	Point-in-time
Operating lease liabilities - short term	`OperatingLeaseLiabilityCurrent`	$256.00K	USD	Point-in-time
Accrued compensation expenses	`EmployeeRelatedLiabilitiesCurrent`	$355.00K	USD	Point-in-time
Accrued compensation expenses	`EmployeeRelatedLiabilitiesCurrent`	$369.00K	USD	Point-in-time
Medigus payable	`AccountsPayableRelatedPartiesCurrent`	$39.00K	USD	Point-in-time
Medigus payable	`AccountsPayableRelatedPartiesCurrent`	-	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$195.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$210.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$772.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.31M	USD	Point-in-time
Contract liabilities - long term	`ContractWithCustomerLiabilityNoncurrent`	$2.07M	USD	Point-in-time
Contract liabilities - long term	`ContractWithCustomerLiabilityNoncurrent`	$779.00K	USD	Point-in-time
Operating lease liabilities - long term	`OperatingLeaseLiabilityNoncurrent`	$47.00K	USD	Point-in-time
Operating lease liabilities - long term	`OperatingLeaseLiabilityNoncurrent`	$203.00K	USD	Point-in-time
Liability for severance pay	`LiabilityForSeverancePay`	$344.00K	USD	Point-in-time
Liability for severance pay	`LiabilityForSeverancePay`	$333.00K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$1.16M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$2.62M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.93M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.93M	USD	Point-in-time
Common stock, $0.001 par value; 300,000,000 and 75,000,000 shares authorized as of December 31, 2021 and December 31, 2020, 7,121,737 and 4,084,122 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock, $0.001 par value; 300,000,000 and 75,000,000 shares authorized as of December 31, 2021 and December 31, 2020, 7,121,737 and 4,084,122 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$7.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$10.27M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$34.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.31M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$19.62M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$2.52M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$3.96M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$5.89M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$23.55M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$491.00K	USD	Annual
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$387.00K	USD	Annual
COST OF REVENUES	`CostOfRevenue`	$994.00K	USD	Annual
COST OF REVENUES	`CostOfRevenue`	$1.11M	USD	Annual
GROSS LOSS	`GrossProfit`	$-721.00K	USD	Annual
GROSS LOSS	`GrossProfit`	$-503.00K	USD	Annual
RESEARCH AND DEVELOPMENT EXPENSES	`ResearchAndDevelopmentExpense`	$725.00K	USD	Annual
RESEARCH AND DEVELOPMENT EXPENSES	`ResearchAndDevelopmentExpense`	$2.00M	USD	Annual
SALES AND MARKETING EXPENSES	`SellingAndMarketingExpense`	$908.00K	USD	Annual
SALES AND MARKETING EXPENSES	`SellingAndMarketingExpense`	$443.00K	USD	Annual
GENERAL AND ADMINISTRATIVE EXPENSES	`GeneralAndAdministrativeExpense`	$5.48M	USD	Annual
GENERAL AND ADMINISTRATIVE EXPENSES	`GeneralAndAdministrativeExpense`	$3.04M	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-9.11M	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-4.71M	USD	Annual
OTHER INCOME	`OtherNonoperatingIncome`	$8.00K	USD	Annual
OTHER INCOME	`OtherNonoperatingIncome`	-	USD	Annual
FINANCING INCOME (EXPENSES), NET	`FinancingIncomeExpensesNet`	$41.00K	USD	Annual
FINANCING INCOME (EXPENSES), NET	`FinancingIncomeExpensesNet`	$117.00K	USD	Annual
LOSS BEFORE TAXES ON INCOME	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-8.99M	USD	Annual
LOSS BEFORE TAXES ON INCOME	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.67M	USD	Annual
TAXES ON INCOME	`IncomeTaxExpenseBenefit`	$2.00K	USD	Annual
TAXES ON INCOME	`IncomeTaxExpenseBenefit`	-	USD	Annual
NET LOSS	`NetIncomeLoss`	$-8.99M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-4.67M	USD	Annual
Net loss per share (basic and diluted, in USD)	`EarningsPerShareBasicAndDiluted`	$-1.32	USD	Annual
Net loss per share (basic and diluted, in USD)	`EarningsPerShareBasicAndDiluted`	$-1.44	USD	Annual
Weighted average common shares (basic and diluted, in thousands)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.53M	shares	Annual
Weighted average common shares (basic and diluted, in thousands)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.24M	shares	Annual

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.99M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.67M	USD	Annual
Depreciation	`Depreciation`	$114.00K	USD	Annual
Depreciation	`Depreciation`	$66.00K	USD	Annual
Share based compensation	`ShareBasedCompensation`	$1.11M	USD	Annual
Share based compensation	`ShareBasedCompensation`	$2.03M	USD	Annual
Profit from exchange differences on cash and cash equivalents	`ForeignCurrencyTransactionGainLossBeforeTax`	$85.00K	USD	Annual
Profit from exchange differences on cash and cash equivalents	`ForeignCurrencyTransactionGainLossBeforeTax`	$130.00K	USD	Annual
Severance pay asset and liability	`SeverancePayAssetAndLiability`	$-4.00K	USD	Annual
Severance pay asset and liability	`SeverancePayAssetAndLiability`	$25.00K	USD	Annual
Interest income in respect of deposits	`InterestIncomeInRespectOfDeposits`	$13.00K	USD	Annual
Interest income in respect of deposits	`InterestIncomeInRespectOfDeposits`	-	USD	Annual
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.00K	USD	Annual
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-9.00K	USD	Annual
Decrease in inventory	`IncreaseDecreaseInInventories`	$-693.00K	USD	Annual
Decrease in inventory	`IncreaseDecreaseInInventories`	$-77.00K	USD	Annual
Increase in operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$20.00K	USD	Annual
Increase in operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	-	USD	Annual
Increase in ROU asset	`IncreaseDecreaseInRightOfUseAsset`	$-43.00K	USD	Annual
Increase in ROU asset	`IncreaseDecreaseInRightOfUseAsset`	-	USD	Annual
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$126.00K	USD	Annual
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$270.00K	USD	Annual
Increase in account payables	`IncreaseDecreaseInAccountsPayable`	$44.00K	USD	Annual
Increase in account payables	`IncreaseDecreaseInAccountsPayable`	$24.00K	USD	Annual
Increase in contract fulfillment assets	`IncreaseDecreaseInContractWithCustomerAsset`	$1.13M	USD	Annual
Increase in contract fulfillment assets	`IncreaseDecreaseInContractWithCustomerAsset`	$545.00K	USD	Annual
Increase in contract liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$346.00K	USD	Annual
Increase in contract liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$1.57M	USD	Annual
Increase (decrease) in accrued compensation expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$72.00K	USD	Annual
Increase (decrease) in accrued compensation expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-14.00K	USD	Annual
Increase (decrease) in Medigus receivable / payable	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-86.00K	USD	Annual
Increase (decrease) in Medigus receivable / payable	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$15.00K	USD	Annual
Increase (decrease) in other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-357.00K	USD	Annual
Increase (decrease) in other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$65.00K	USD	Annual
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.19M	USD	Annual
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.89M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$276.00K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$595.00K	USD	Annual
Investment in short terms deposits	`PaymentsToShortTermDeposits`	-	USD	Annual
Investment in short terms deposits	`PaymentsToShortTermDeposits`	$11.00M	USD	Annual
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-276.00K	USD	Annual
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.60M	USD	Annual
Proceeds from issuance of shares and warrants	`ProceedsFromIssuanceOfSharesAndWarrants`	$19.12M	USD	Annual
Proceeds from issuance of shares and warrants	`ProceedsFromIssuanceOfSharesAndWarrants`	$2.86M	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$3.49M	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$1.73M	USD	Annual
Issuance expenses	`RepaymentsForIssuanceExpenses`	-	USD	Annual
Issuance expenses	`RepaymentsForIssuanceExpenses`	$50.00K	USD	Annual
Loan repayment to Medigus	`RepaymentsOfRelatedPartyDebt`	$81.00K	USD	Annual
Loan repayment to Medigus	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$22.56M	USD	Annual
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.51M	USD	Annual
INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$5.08M	USD	Annual
INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$43.00K	USD	Annual
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.58M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.25M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.37M	USD	Point-in-time
PROFITS FROM EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$85.00K	USD	Annual
PROFITS FROM EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$130.00K	USD	Annual
BALANCE OF CASH AND CASH EQUIVALENTS AT END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.58M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.25M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.37M	USD	Point-in-time
Right-of-use assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$524.00K	USD	Annual
Right-of-use assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$97.00K	USD	Annual
Increase in property and equipment through a decrease in advances to suppliers	`NoncashRelatedToIncreaseInPropertyAndEquipmentThroughADecreaseInAdvancesToSuppliers`	$31.00K	USD	Annual
Increase in property and equipment through a decrease in advances to suppliers	`NoncashRelatedToIncreaseInPropertyAndEquipmentThroughADecreaseInAdvancesToSuppliers`	-	USD	Annual
Loan from Medigus settled against receivable from Medigus	`LoanFromParentCompanySettledAgainstReceivableFromParentCompany`	$41.00K	USD	Annual
Loan from Medigus settled against receivable from Medigus	`LoanFromParentCompanySettledAgainstReceivableFromParentCompany`	-	USD	Annual
Conversion of loan from Medigus	`ConversionOfLoanFromParentCompany`	-	USD	Annual
Conversion of loan from Medigus	`ConversionOfLoanFromParentCompany`	$381.00K	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$19.62M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.52M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.96M	USD	Point-in-time
Issuance of shares and warrants (see note 9)	`StockIssuedDuringPeriodValueOfSharesAndWarrants`	$2.86M	USD	Annual
Issuance of shares and warrants (see note 9)	`StockIssuedDuringPeriodValueOfSharesAndWarrants`	$19.12M	USD	Annual
Exercise of warrants	`ExerciseOfWarrants`	$1.73M	USD	Annual
Exercise of warrants	`ExerciseOfWarrants`	$3.49M	USD	Annual
Stock based compensation (see note 9)	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.14M	USD	Annual
Stock based compensation (see note 9)	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.03M	USD	Annual
Conversion of loan from Medigus	`StockIssuedDuringPeriodValueConversionOfLoanFromParentCompany`	$381.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-8.99M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.67M	USD	Annual
Balance	`StockholdersEquity`	$19.62M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.52M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.96M	USD	Point-in-time

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