10-Q Filing

ODYSIGHT.AI INC. CIK: 1577445 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001493152-23-015723`
Period End Date	20230331
Filing Date	20230508
Fiscal Year	2023
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 66 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.58M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.43M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.12M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.10M	USD	Point-in-time
Short terms deposits	`DepositsAssetsCurrent`	$15.01M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.12M	shares	Point-in-time
Short terms deposits	`DepositsAssetsCurrent`	$3.05M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.43M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$60.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$61.00K	USD	Point-in-time
Inventory	`InventoryGross`	$630.00K	USD	Point-in-time
Inventory	`InventoryGross`	$693.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$564.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$281.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.91M	USD	Point-in-time
Contract fulfillment assets	`ContractWithCustomerAssetNetNoncurrent`	$1.44M	USD	Point-in-time
Contract fulfillment assets	`ContractWithCustomerAssetNetNoncurrent`	$1.50M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$508.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$648.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$307.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$346.00K	USD	Point-in-time
Severance pay asset	`SeverancePayAsset`	$268.00K	USD	Point-in-time
Severance pay asset	`SeverancePayAsset`	$328.00K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$2.78M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$2.56M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$16.89M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$28.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$365.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$297.00K	USD	Point-in-time
Contract liabilities - short term	`ContractWithCustomerLiabilityCurrent`	$1.30M	USD	Point-in-time
Contract liabilities - short term	`ContractWithCustomerLiabilityCurrent`	$1.43M	USD	Point-in-time
Operating lease liabilities - short term	`OperatingLeaseLiabilityCurrent`	$199.00K	USD	Point-in-time
Operating lease liabilities - short term	`OperatingLeaseLiabilityCurrent`	$195.00K	USD	Point-in-time
Accrued compensation expenses	`EmployeeRelatedLiabilitiesCurrent`	$365.00K	USD	Point-in-time
Accrued compensation expenses	`EmployeeRelatedLiabilitiesCurrent`	$352.00K	USD	Point-in-time
Related parties	`OtherLiabilitiesCurrent`	$8.00K	USD	Point-in-time
Related parties	`OtherLiabilitiesCurrent`	$58.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$396.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$214.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.56M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.62M	USD	Point-in-time
Contract liabilities - long term	`ContractWithCustomerLiabilityNoncurrent`	$2.22M	USD	Point-in-time
Contract liabilities - long term	`ContractWithCustomerLiabilityNoncurrent`	$2.11M	USD	Point-in-time
Operating lease liabilities - long term	`OperatingLeaseLiabilityNoncurrent`	$94.00K	USD	Point-in-time
Operating lease liabilities - long term	`OperatingLeaseLiabilityNoncurrent`	$64.00K	USD	Point-in-time
Liability for severance pay	`LiabilityForSeverancePay`	$268.00K	USD	Point-in-time
Liability for severance pay	`LiabilityForSeverancePay`	$262.00K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$2.55M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$2.47M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.11M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.09M	USD	Point-in-time
Common stock, $0.001 par value; 300,000,000 shares authorized as of March 31, 2023 and December 31, 2022, 10,432,518 and 7,121,737 shares issued and outstanding as of March 31, 2023 and December 31, 2022 , respectively	`CommonStockValue`	$7.00K	USD	Point-in-time
Common stock, $0.001 par value; 300,000,000 shares authorized as of March 31, 2023 and December 31, 2022, 10,432,518 and 7,121,737 shares issued and outstanding as of March 31, 2023 and December 31, 2022 , respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$36.54M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$50.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.76M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-27.45M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$19.62M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$17.60M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$11.79M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$23.38M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$28.46M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$16.89M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$303.00K	USD	1 Quarter
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.00K	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$550.00K	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$288.00K	USD	1 Quarter
GROSS LOSS	`GrossProfit`	$-286.00K	USD	1 Quarter
GROSS LOSS	`GrossProfit`	$-247.00K	USD	1 Quarter
RESEARCH AND DEVELOPMENT EXPENSES	`ResearchAndDevelopmentExpense`	$1.40M	USD	1 Quarter
RESEARCH AND DEVELOPMENT EXPENSES	`ResearchAndDevelopmentExpense`	$954.00K	USD	1 Quarter
SALES AND MARKETING EXPENSES	`SellingAndMarketingExpense`	$176.00K	USD	1 Quarter
SALES AND MARKETING EXPENSES	`SellingAndMarketingExpense`	$243.00K	USD	1 Quarter
GENERAL AND ADMINISTRATIVE EXPENSES	`GeneralAndAdministrativeExpense`	$958.00K	USD	1 Quarter
GENERAL AND ADMINISTRATIVE EXPENSES	`GeneralAndAdministrativeExpense`	$1.29M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-2.77M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-2.78M	USD	1 Quarter
OTHER INCOME	`OtherNonoperatingIncome`	$7.00K	USD	1 Quarter
OTHER INCOME	`OtherNonoperatingIncome`	$8.00K	USD	1 Quarter
FINANCING INCOME (EXPENSES), NET	`FinancingIncomeExpensesNet`	$86.00K	USD	1 Quarter
FINANCING INCOME (EXPENSES), NET	`FinancingIncomeExpensesNet`	$-27.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.69M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.79M	USD	1 Quarter
Net loss per ordinary share (basic and diluted, USD)	`EarningsPerShareBasic`	$-0.39	USD	1 Quarter
Net loss per ordinary share (basic and diluted, USD)	`EarningsPerShareBasic`	$-0.37	USD	1 Quarter
Weighted average ordinary shares (basic and diluted, in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.12M	shares	1 Quarter
Weighted average ordinary shares (basic and diluted, in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.28M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.79M	USD	1 Quarter
Depreciation	`Depreciation`	$50.00K	USD	1 Quarter
Depreciation	`Depreciation`	$155.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$772.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$348.00K	USD	1 Quarter
Severance pay asset and liability	`SeverancePayAssetAndLiability`	-	USD	1 Quarter
Severance pay asset and liability	`SeverancePayAssetAndLiability`	$-54.00K	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`	$9.00K	USD	1 Quarter
Profit from exchange differences on cash and cash equivalents	`ForeignCurrencyTransactionGainLossBeforeTax`	$-41.00K	USD	1 Quarter
Profit from exchange differences on cash and cash equivalents	`ForeignCurrencyTransactionGainLossBeforeTax`	$-4.00K	USD	1 Quarter
Interest income in respect of deposits	`InterestIncomeInRespectOfDeposits`	$-42.00K	USD	1 Quarter
Interest income in respect of deposits	`InterestIncomeInRespectOfDeposits`	$13.00K	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.00K	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.00K	USD	1 Quarter
Increase in inventory	`IncreaseDecreaseInInventories`	$23.00K	USD	1 Quarter
Increase in inventory	`IncreaseDecreaseInInventories`	$63.00K	USD	1 Quarter
Decrease in operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-48.00K	USD	1 Quarter
Decrease in operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-16.00K	USD	1 Quarter
Decrease in ROU asset	`IncreaseDecreaseInRightOfUseAsset`	$44.00K	USD	1 Quarter
Decrease in ROU asset	`IncreaseDecreaseInRightOfUseAsset`	$19.00K	USD	1 Quarter
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-27.00K	USD	1 Quarter
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$283.00K	USD	1 Quarter
Increase in account payables	`IncreaseDecreaseInAccountsPayable`	$124.00K	USD	1 Quarter
Increase in account payables	`IncreaseDecreaseInAccountsPayable`	$68.00K	USD	1 Quarter
Decrease in related parties	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$50.00K	USD	1 Quarter
Decrease in related parties	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$39.00K	USD	1 Quarter
Decrease in contract fulfillment assets	`IncreaseDecreaseInContractWithCustomerAsset`	-	USD	1 Quarter
Decrease in contract fulfillment assets	`IncreaseDecreaseInContractWithCustomerAsset`	$-60.00K	USD	1 Quarter
Increase (decrease) in contract liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$1.62M	USD	1 Quarter
Increase (decrease) in contract liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$-228.00K	USD	1 Quarter
Increase (decrease) in accrued compensation expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-63.00K	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`	$182.00K	USD	1 Quarter
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.47M	USD	1 Quarter
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-224.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.00K	USD	1 Quarter
Withdrawal of short terms deposits	`WithdrawalShortTermDeposits`	-	USD	1 Quarter
Withdrawal of short terms deposits	`WithdrawalShortTermDeposits`	$3.00M	USD	1 Quarter
Investment in short term deposits	`PaymentsInvestmentToShortTermDeposits`	$15.00M	USD	1 Quarter
Investment in short term deposits	`PaymentsInvestmentToShortTermDeposits`	-	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.02M	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-24.00K	USD	1 Quarter
Proceeds from issuance of shares and warrants	`ProceedsFromIssuanceOfSharesAndWarrants`	$13.98M	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`	$13.98M	USD	1 Quarter
DECREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-512.00K	USD	1 Quarter
DECREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-248.00K	USD	1 Quarter
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.58M	USD	Point-in-time
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`	$10.10M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.29M	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`	$-4.00K	USD	1 Quarter
BALANCE OF CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.58M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.58M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.10M	USD	Point-in-time
BALANCE OF CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.29M	USD	Point-in-time
Right-of-use assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$83.00K	USD	1 Quarter
Right-of-use assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$46.00K	USD	1 Quarter
Issuance expenses	`NonCashIssuanceExpenses`	-	USD	1 Quarter
Issuance expenses	`NonCashIssuanceExpenses`	$50.00K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$19.62M	USD	Point-in-time
Balance	`StockholdersEquity`	$17.60M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.79M	USD	Point-in-time
Balance	`StockholdersEquity`	$23.38M	USD	Point-in-time
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$348.00K	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$772.00K	USD	1 Quarter
RSU vesting	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	1 Quarter
Issuance of shares and warrants	`StockIssuedDuringPeriodValueOfSharesAndWarrants`	$13.93M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.79M	USD	1 Quarter
Balance	`StockholdersEquity`	$19.62M	USD	Point-in-time
Balance	`StockholdersEquity`	$17.60M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.79M	USD	Point-in-time
Balance	`StockholdersEquity`	$23.38M	USD	Point-in-time

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