10-Q Filing

ODYSIGHT.AI INC. CIK: 1577445 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001493152-22-013514`
Period End Date	20220331
Filing Date	20220516
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 24 Cash Flow Statement 60 Stockholders Equity 14

Balance Sheet 68 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`	300.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.12M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.29M	USD	Point-in-time
Short terms deposits	`DepositsAssetsCurrent`	$11.03M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.12M	shares	Point-in-time
Short terms deposits	`DepositsAssetsCurrent`	$11.01M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.12M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$8.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$14.00K	USD	Point-in-time
Inventory	`InventoryGross`	$167.00K	USD	Point-in-time
Inventory	`InventoryGross`	$190.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$416.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$443.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.94M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.21M	USD	Point-in-time
Contract fulfillment assets	`ContractWithCustomerAssetNetNoncurrent`	$1.68M	USD	Point-in-time
Contract fulfillment assets	`ContractWithCustomerAssetNetNoncurrent`	$1.68M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$755.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$781.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$463.00K	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`	$390.00K	USD	Point-in-time
Total non current assets	`AssetsNoncurrent`	$3.28M	USD	Point-in-time
Total non current assets	`AssetsNoncurrent`	$3.33M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$23.22M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$23.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$227.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$103.00K	USD	Point-in-time
Contract liabilities - short term	`ContractWithCustomerLiabilityCurrent`	$1.28M	USD	Point-in-time
Contract liabilities - short term	`ContractWithCustomerLiabilityCurrent`	$346.00K	USD	Point-in-time
Operating lease liabilities - short term	`OperatingLeaseLiabilityCurrent`	$256.00K	USD	Point-in-time
Operating lease liabilities - short term	`OperatingLeaseLiabilityCurrent`	$252.00K	USD	Point-in-time
Accrued compensation expenses	`EmployeeRelatedLiabilitiesCurrent`	$375.00K	USD	Point-in-time
Accrued compensation expenses	`EmployeeRelatedLiabilitiesCurrent`	$355.00K	USD	Point-in-time
Related parties	`AccountsPayableRelatedPartiesCurrent`	$39.00K	USD	Point-in-time
Related parties	`AccountsPayableRelatedPartiesCurrent`	-	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$212.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$210.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.31M	USD	Point-in-time
Contract liabilities - long term	`ContractWithCustomerLiabilityNoncurrent`	$2.76M	USD	Point-in-time
Contract liabilities - long term	`ContractWithCustomerLiabilityNoncurrent`	$2.07M	USD	Point-in-time
Operating lease liabilities - long term	`OperatingLeaseLiabilityNoncurrent`	$181.00K	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`	$338.00K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$3.28M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$2.62M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.62M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.93M	USD	Point-in-time
Common stock, $0.001 par value; 300,000,000 shares authorized as of March 31, 2022 and December 31, 2021, 7,121,737 shares issued and outstanding as of March 31, 2022 and December 31, 2021	`CommonStockValue`	$7.00K	USD	Point-in-time
Common stock, $0.001 par value; 300,000,000 shares authorized as of March 31, 2022 and December 31, 2021, 7,121,737 shares issued and outstanding as of March 31, 2022 and December 31, 2021	`CommonStockValue`	$7.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$35.67M	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`	$-18.08M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$22.34M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$3.96M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$17.60M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$19.62M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$23.55M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$23.22M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.00K	USD	1 Quarter
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$24.00K	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$203.00K	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$288.00K	USD	1 Quarter
GROSS LOSS	`GrossProfit`	$-179.00K	USD	1 Quarter
GROSS LOSS	`GrossProfit`	$-286.00K	USD	1 Quarter
RESEARCH AND DEVELOPMENT EXPENSES	`ResearchAndDevelopmentExpense`	$954.00K	USD	1 Quarter
RESEARCH AND DEVELOPMENT EXPENSES	`ResearchAndDevelopmentExpense`	$281.00K	USD	1 Quarter
SALES AND MARKETING EXPENSES	`SellingAndMarketingExpense`	$243.00K	USD	1 Quarter
SALES AND MARKETING EXPENSES	`SellingAndMarketingExpense`	$197.00K	USD	1 Quarter
GENERAL AND ADMINISTRATIVE EXPENSES	`GeneralAndAdministrativeExpense`	$1.29M	USD	1 Quarter
GENERAL AND ADMINISTRATIVE EXPENSES	`GeneralAndAdministrativeExpense`	$933.00K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-1.59M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-2.77M	USD	1 Quarter
OTHER INCOME	`OtherNonoperatingIncome`	$8.00K	USD	1 Quarter
OTHER INCOME	`OtherNonoperatingIncome`	-	USD	1 Quarter
FINANCING EXPENSES, NET	`FinancingIncomeExpensesNet`	$-16.00K	USD	1 Quarter
FINANCING EXPENSES, NET	`FinancingIncomeExpensesNet`	$-27.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.79M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.61M	USD	1 Quarter
Net loss per ordinary share (basic and diluted, USD)	`EarningsPerShareBasic`	$-0.38	USD	1 Quarter
Net loss per ordinary share (basic and diluted, USD)	`EarningsPerShareBasic`	$-0.39	USD	1 Quarter
Weighted average ordinary shares (basic and diluted, in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.22M	shares	1 Quarter
Weighted average ordinary shares (basic and diluted, in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.12M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.61M	USD	1 Quarter
Depreciation	`Depreciation`	$50.00K	USD	1 Quarter
Depreciation	`Depreciation`	$17.00K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$772.00K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$79.00K	USD	1 Quarter
Profit from exchange differences from operating lease liability	`GainOrLossOnExchangeFromOperatingLeaseLiability`	$10.00K	USD	1 Quarter
Profit from exchange differences from operating lease liability	`GainOrLossOnExchangeFromOperatingLeaseLiability`	-	USD	1 Quarter
Loss from exchange differences on cash and cash equivalents	`ForeignCurrencyTransactionGainLossBeforeTax`	$-41.00K	USD	1 Quarter
Loss from exchange differences on cash and cash equivalents	`ForeignCurrencyTransactionGainLossBeforeTax`	$-12.00K	USD	1 Quarter
Interest income in respect of deposits	`InterestIncomeInRespectOfDeposits`	-	USD	1 Quarter
Interest income in respect of deposits	`InterestIncomeInRespectOfDeposits`	$13.00K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.00K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.00K	USD	1 Quarter
Increase in inventory	`IncreaseDecreaseInInventories`	$23.00K	USD	1 Quarter
Increase in inventory	`IncreaseDecreaseInInventories`	$101.00K	USD	1 Quarter
Decrease in operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-16.00K	USD	1 Quarter
Decrease in operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	-	USD	1 Quarter
Decrease in ROU asset	`IncreaseDecreaseInRightOfUseAsset`	$19.00K	USD	1 Quarter
Decrease in ROU asset	`IncreaseDecreaseInRightOfUseAsset`	-	USD	1 Quarter
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-27.00K	USD	1 Quarter
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$105.00K	USD	1 Quarter
Increase in account payables	`IncreaseDecreaseInAccountsPayable`	$413.00K	USD	1 Quarter
Increase in account payables	`IncreaseDecreaseInAccountsPayable`	$124.00K	USD	1 Quarter
Increase (decrease) in related parties	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$39.00K	USD	1 Quarter
Increase (decrease) in related parties	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-46.00K	USD	1 Quarter
Increase in contract fulfillment assets	`IncreaseDecreaseInContractWithCustomerAsset`	$240.00K	USD	1 Quarter
Increase in contract fulfillment assets	`IncreaseDecreaseInContractWithCustomerAsset`	-	USD	1 Quarter
Increase in contract liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$1.62M	USD	1 Quarter
Increase in contract liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$663.00K	USD	1 Quarter
Increase (decrease) in accrued compensation expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-80.00K	USD	1 Quarter
Increase (decrease) in accrued compensation expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$20.00K	USD	1 Quarter
Increase in other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$2.00K	USD	1 Quarter
Increase in other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$122.00K	USD	1 Quarter
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-774.00K	USD	1 Quarter
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-224.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$117.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.00K	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-117.00K	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-24.00K	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$781.00K	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Proceeds from issuance of shares and warrants	`ProceedsFromIssuanceOfSharesAndWarrants`	$9.50M	USD	1 Quarter
Proceeds from issuance of shares and warrants	`ProceedsFromIssuanceOfSharesAndWarrants`	-	USD	1 Quarter
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.28M	USD	1 Quarter
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-248.00K	USD	1 Quarter
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$9.39M	USD	1 Quarter
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.29M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.37M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.75M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.58M	USD	Point-in-time
LOSS FROM EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-41.00K	USD	1 Quarter
LOSS FROM EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-12.00K	USD	1 Quarter
BALANCE OF CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.29M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.37M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.75M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.58M	USD	Point-in-time
Right-of-use assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$226.00K	USD	1 Quarter
Right-of-use assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$46.00K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$22.34M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$3.96M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$17.60M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$19.62M	USD	Point-in-time
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$772.00K	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$79.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.61M	USD	1 Quarter
Issuance of shares and warrants	`StockIssuedDuringPeriodValueOfSharesAndWarrants`	$19.12M	USD	1 Quarter
Exercise of warrants	`ExerciseOfWarrants`	$781.00K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$22.34M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$3.96M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$17.60M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$19.62M	USD	Point-in-time

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