Acquisition and Investments - The company is acquiring MitoCareX Bio Ltd. for 700,000,resultinginMitoCareXbecomingawholly−ownedsubsidiary[337].−Thecompanywillissuesharesrepresenting15.51,000,000 in MitoCareX for ongoing research and development [340]. - The company entered into a shareholder's agreement to acquire 70% of SBI4's shares for financing two battery storage projects in Sicily, Italy, with a loan of €2,300,000 at 7% interest [342][343]. - The company established NITO Renewable Energy, Inc. to manage investments in the solar energy sector [344]. - The company has a credit facility agreement with Pure Capital for financing up to €6,000,000, including a five-year warrant to purchase 1,850,000 shares at 1.00pershare[358].−ThecompanyenteredintoaPurchaseAgreementwithanInvestortopurchaseupto20 million of common stock over 36 months, with shares priced at 94% of the lowest VWAP for the three trading days following each Advance notice [391]. - The Investor pre-advanced 3millionofthe20 million commitment amount, subject to a 3% discount and an 8% annual interest rate on the outstanding principal [392]. Financial Performance - Revenues for the year ended December 31, 2024 were 210,000,adecreaseof53,000, or 20%, compared to 263,000for2023[372].−CostofsalesfortheyearendedDecember31,2024was165,000, an increase of 110,000,or20055,000 for 2023 [373]. - Gross profit for the year ended December 31, 2024 was 45,000,adecreaseof163,000, or 78%, compared to 208,000for2023[374].−ResearchanddevelopmentexpensesfortheyearendedDecember31,2024were369,000, a decrease of 1,569,000,or811,938,000 for 2023 [375]. - Selling and marketing expenses for the year ended December 31, 2024 were 238,000,adecreaseof34,000, or 13%, compared to 272,000for2023[376].−GeneralandadministrativeexpensesfortheyearendedDecember31,2024were3,758,000, a decrease of 1,818,000,or335,576,000 for 2023 [377]. - Total net loss for the year ended December 31, 2024 was 5,347,000,comparedto7,260,000 for 2023, a decrease of 1,913,000,or263,419,000 for the year ended December 31, 2024, compared to 3,234,000for2023[386].−Netcashusedininvestingactivitieswas1,889,000 for the year ended December 31, 2024, compared to 1,519,000for2023[387].−Netcashprovidedbyfinancingactivitieswas3,047,000 for the year ended December 31, 2024, compared to 3,473,000for2023[388].−AsofMarch29,2024,thecompanyhassold28,333sharesofcommonstockatanaveragepurchasepriceof1.50 [391]. Financial Position and Concerns - The company has an accumulated deficit of $34,553,000 as of December 31, 2024, and expects to incur losses for the foreseeable future [393]. - The company believes existing capital resources will support operations through the beginning of Q4 2025, but additional capital may be needed for growth [394]. - There is substantial doubt about the company's ability to continue as a going concern if sufficient additional capital is not obtained [395]. - If additional funds are raised through equity sales, stockholder ownership may be diluted, and if debt securities are issued, negative covenants may restrict company activities [395]. - The financial statements do not include adjustments for assets and liabilities that may be required if the company fails to operate as a going concern [395]. - As a smaller reporting company, the company is not required to provide detailed market risk disclosures [396].
