Related Parties

6 Months Ended

Jun. 30, 2022

Related Party Transactions [Abstract]

RELATED PARTIES

NOTE 4:- RELATED PARTIES

a. During the six months ended June 30, 2022 and 2021, the Company paid compensation expenses to related parties (CEO, CFO and directors) in the amount of $126 and $116, respectively.

b.

Amounts owing to related parties (CEO, CFO and directors) as of June 30, 2022, and December 31, 2021 were $18 and $22, respectively.

c.

On January 5, 2022, Saffron Tech granted 220,000 share options to directors and officers of the Company. All options are exercisable at approximately $1.29 per share (NIS 4.00). The options vest on a quarterly basis over a period between two and three years and expire on January 4, 2032. The fair value of the options at the date of grant was estimated at $281 using the Black-Scholes option pricing model, using the following assumptions: Share price: NIS 3.96; Expected option life in years: 10; Volatility: 223%; Risk-free interest rate: 1.71%; Dividend yield: 0%. During the six months ended June 30, 2022, the Company recorded share-based expenses in respect of the share options in the amount of $207.

d. On January 5, 2022, Saffron Tech, following the resignation of two directors certain share options in Saffron Tech that were granted to the two former directors were cancelled. During the six months ended June 30, 2022, the Company recorded income in the amount of $211 in respect of cancelled share options in Saffron Tech.