Form 6-K/A - Report of foreign issuer [Rules 13a-16 and 15d-16]: [Amend]

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K/A

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

 

For the month of August 2024 (Report No. 4)

 

Commission file number: 001-41387

 

 

 

SaverOne 2014 Ltd.

(Translation of registrant’s name into English)

 

Em Hamoshavot Rd. 94

Petah Tikvah, Israel

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒         Form 40-F ☐ 

 

 

 

 

 

  

Explanatory Note

 

This Amendment No. 1 to the Report on Form 6-K for the six months ended June 30, 2024, originally filed with the Securities and Exchange Commission on August 27, 2024 (the “Form 6-K”), is being filed solely for the purposes of furnishing Interactive Data File disclosure that was inadvertently omitted from the Form 6-K report. Accordingly, attached to this Form 6-K/A is Exhibit 99.2 containing unaudited Interim Condensed Financial Statements as of June 30, 2024, as filed in the Form 6-K, together with the Interactive Data File disclosure.

 

Other than as expressly set forth above, this Form 6-K/A does not, and does not purport to, amend, update or restate the information in any other item of the Form 6-K, or reflect any events that have occurred after the Form 6-K was originally filed. Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

 

1

 

 

EXHIBIT INDEX

 

Exhibit No.		Description
99.2		Unaudited Interim Condensed Financial Statements as of June 30, 2024
101.INS		Inline XBRL Instance Document.
101.SCH		Inline XBRL Taxonomy Extension Schema Document.
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

  

2

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	SaverOne 2014 Ltd.
Date: August 28, 2024	By:	/s/ Ori Gilboa
		Name:	Ori Gilboa
		Title:	Chief Executive Officer

 

3

 

Exhibit 99.2

 

 

 

 

 

 

 

SAVERONE 2014 LTD.

 

CONDENSED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

SAVERONE 2014 LTD.

 

CONDENSED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2024

 

INDEX TO CONDENSED INTERIM FINANCIAL STATEMENTS

 

	Page
Financial statements in NIS Thousands
Condensed statements of financial position	1
Condensed statements of comprehensive loss	2
Condensed statements of changes in shareholders’ equity	3-4
Condensed statements of cash flows	5-6
Notes to the condensed financial statements	7-15

 

 

 

i

 

 

SAVERONE 2014 LTD.

 

CONDENSED STATEMENTS OF FINANCIAL POSITION

(New Israeli Shekels in thousands)

 

		As of June 30,								As of December 31,
		2024				2023				2023
		Unaudited								Audited
Assets
Current assets
Cash and cash equivalents			11,302				14,773				17,112
Short-term bank deposits			-				3,805				-
Trade receivables, net			1,290				1,860				1,054
Other current assets			1,247				921				1,509
Inventory			5,760				3,451				4,534
Total current assets			19,599				24,810				24,209
Non-current assets
Trade receivables, net			871				-				1,051
Property and equipment, net			211				252				248
Restricted deposits			216				206				211
Right of use asset, net			1,142				354				1,271
Total non-current assets			2,440				812				2,781
Total assets			22,039				25,622				26,990
Current liabilities
Promissory note, net			3,912				7,097				7,139
Current maturities of leasing liabilities			469				429				352
Trade payables			3,695				2,896				4,303
Other current liabilities			2,037				2,456				2,042
Derivative warrants liability			57				1,819				274
Liability in respect of government grants			650				401				694
Total current liabilities			10,820				15,098				14,804
Non-current liabilities
Liability in respect of government grants			801				970				634
Leasing liability, net current			796				-				980
Total non-current liabilities			1,597				970				1,614
Shareholders’ equity
Share capital and premium			150,353				118,559				135,243
Capital reserve in respect of share-based payment			11,163				10,523				10,939
Accumulated deficit			(151,894	)			(119,528	)			(135,610	)
Total shareholders’ equity			9,622				9,554				10,572
Total liabilities and shareholders’ equity			22,039				25,622				26,990

 

The accompanying notes are an integral of to these financial statements.

 

1

 

 

SAVERONE 2014 LTD.

 

CONDENSED STATEMENTS OF COMPREHENSIVE LOSS

(New Israeli Shekels in thousands, except per share and share data)

 

		Six Months Ended June 30,								Year Ended December 31,
		2024				2023				2023
		Unaudited								Audited
Revenues			483				1,475				2,720
Cost of revenues			(398	)			(1,008	)			(1,968	)
Gross profit			85				467				752
Research and development expenses, net			(8,897	)			(12,188	)			(22,861	)
Selling and marketing expenses			(2,406	)			(1,449	)			(3,787	)
General and administrative expenses			(4,460	)			(4,468	)			(8,327	)
Operating loss			(15,678	)			(17,638	)			(34,223	)
Financing expenses			(1,242	)			(800	)			(1,219	)
Financing income			636				685				1,607
Financing income (expenses), net			(606	)			(115	)			388
Loss for the period			(16,284	)			(17,753	)			(33,835	)
Comprehensive loss for the period			(16,284	)			(17,753	)			(33,835	)
Basic and diluted loss per share			(0.21	)			(0.64	)			(1.08	)
Weighted average of number of shares used to calculate the basic and diluted loss per share			79,171,297				27,839,012				31,380,359

 

The accompanying notes are an integral of to these financial statements.

 

2

 

 

SAVERONE 2014 LTD.

 

CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(New Israeli Shekels in thousands, except per share and share data)

 

For the six-month period ended June 30, 2024

 

		Share capital and premium				Capital reserve in respect of share-based payment				Accumulated deficit				Total shareholders’ equity
Balance as of January 1, 2024 (audited)			135,243				10,939				(135,610	)			10,572
Share-based payment			-				388				-				388
Issuance of ADS resulted from partial exercise of Commitment Amount under equity line			6,812				-				-				6,812
Repayment of promissory note through issuance of ADSs resulted from partial exercise of Commitment Amount under equity line			3,912				-				-				3,912
Net proceeds received from issuance of ADSs as part of shelf prospectus through public offering transaction			4,222				-				-				4,222
Exercise of restricted share units into ordinary shares			164				(164	)			-				-
Comprehensive loss for the period			-				-				(16,284	)			(16,284	)
Balance as of June 30, 2024 (unaudited)			150,353				11,163				(151,894	)			9,622

 

For the six-month period ended June 30, 2023

 

		Share capital and premium				Capital reserve in respect of share-based payment				Accumulated deficit				Total shareholders’ equity
Balance as of January 1, 2023 (audited)			118,284				10,045				(101,775	)			26,554
Share-based payment			-				478				-				478
Net amount allocated to ADS issued as Commitment Shares in transaction of equity line			87				-				-				87
Issuance of ADS resulted from partial exercise of Commitment Amount under equity line			188				-				-				188
Comprehensive loss for the period			-				-				(17,753	)			(17,753	)
Balance as of June 30, 2023 (unaudited)			118,559				10,523				(119,528	)			9,554

 

The accompanying notes are an integral of to these financial statements.

 

3

 

 

SAVERONE 2014 LTD.

 

CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(New Israeli Shekels in thousands, except per share and share data)

 

For the year ended December 31, 2023

 

		Share capital and premium				Capital reserve in respect of share-based payment				Accumulated deficit				Total shareholders’ equity
Balance as of January 1, 2023 (audited)			118,284				10,045				(101,775	)			26,554
Share-based payment			-				978				-				978
Net proceeds allocated to ADSs issued as Commitment Shares in transaction of equity line			87				-				-				87
Issuance of ADSs resulted from partial exercise of Commitment Amount under equity line			9,670				-				-				9,670
Repayment of promissory note through issuance of ADSs resulted from partial exercise of Commitment Amount under equity line			3,433				-				-				3,433
Net proceeds received from issuance of ADSs as part of shelf prospectus through public offering transaction			3,685				-				-				3,685
Exercise of restricted share units into ordinary shares			84				(84	)			-				-
Comprehensive loss for the year			-				-				(33,835	)			(33,835	)
Balance as of December 31, 2023 (audited)			135,243				10,939				(135,610	)			10,572

 

The accompanying notes are an integral of to these financial statements.

 

4

 

 

SAVERONE 2014 LTD.

 

CONDENSED STATEMENTS OF CASH FLOWS

(New Israeli Shekels in thousands, except per share and share data)

 

		Six Months Ended June 30,								Year Ended December 31,
		2024				2023				2023
		Unaudited								Audited
Cash flow from operating activity
Comprehensive loss for the period			(16,284	)			(17,753	)			(33,835	)
Adjustments required to present cash flows from operating activities (Appendix A)			(31	)			(214	)			(1,185	)
Net cash used in operating activities			(16,315	)			(17,967	)			(35,020	)
Cash flows from investment activity
Change in restricted deposits			(5	)			(5	)			-
Changes in short-term deposits			-				6,265				10,070
Purchase of property and equipment			(10	)			(75	)			(128	)
Net cash provided by (used in) investment activity			(15	)			6,185				9,942
Cash flows from financing activity
Net proceeds received from issuance of unit includes put options, promissory note and ADS as Commitment Shares in transaction of equity line granted			-				7,170				7,170
Proceeds received from issuance of ADSs resulted from partial exercise of Commitment Amount under equity line			6,307				188				9,259
Repayment of first promissory note (principal and interest)			-				-				(754	)
Net proceeds received from issuance of second promissory note			-				-				3,597
Net proceeds received from issuance of ADSs as part of shelf prospectus through public offering transaction			4,222				-				3,685
Repayment of principal in respect of lease liability			(117	)			(234	)			(467	)
Net cash provided by financing activity			10,412				7,124				22,490
Change in balance of cash and cash equivalents			(5,918	)			(4,658	)			(2,588	)
Exchange differences on cash and cash equivalents			108				191				460
Balance of cash and cash equivalents, beginning of period			17,112				19,240				19,240
Balance of cash and cash equivalents, end of period			11,302				14,773				17,112

 

The accompanying notes are an integral of to these financial statements.

 

5

 

 

SAVERONE 2014 LTD.

 

CONDENSED STATEMENTS OF CASH FLOWS

(New Israeli Shekels in thousands, except per share and share data)

 

		Six Months Ended June 30,								Year Ended December 31,
		2024				2023				2023
		Unaudited								Audited
Appendix A – Adjustments required to present cash flows from operating activities
Income and expenses not involving cash flows
Depreciation			47				41				98
Amortization of right for use asset			129				213				425
Interest expenses related to leasing liabilities			50				15				22
Share-based payment			388				478				978
Revaluation of derivative warrant liability			(217	)			668				(877	)
Recognition of discount, interest and exchange differences expenses related to Promissory Note			494				14				526
Finance expenses incurred from partial exercise of Commitment Amount under equity line			696				-				531
Exchange differences on cash and cash equivalent			(108	)			(191	)			(470	)
Changes in liability in respect of government grants			123				117				74
			1,602				1,355				1,307
Changes in asset and liability items
Decrease (increase) in other current assets			262				95				(493	)
Increase in trade receivables			(56	)			(763	)			(1,008	)
Increase in inventory			(1,226	)			(1,425	)			(2,508	)
Increase (decrease) in trade payables			(608	)			940				2,347
Increase in other current liabilities			(5	)			(416	)			(830	)
			(1,633	)			(1,569	)			(2,492	)
			(31	)			(214	)			(1,185	)
Appendix B – Non-cash investment and financing activities
Recognition of right for usage asset against a leasing liability			-				-				1,129
Repayment of first promissory note (principal and interest) through issuance of ADSs resulted from partial exercise of Commitment Amount under equity line			3,721				-				3,313

 

The accompanying notes are an integral of to these financial statements.

 

6

 

 

SAVERONE 2014 LTD.

 

NOTES TO THE CONDENSED FINANCIAL STATEMENTS

(New Israeli Shekels in thousands, except per share and share data)

 

Note 1 - General

 

A.

Incorporation and operations

 

Saverone 2014 Ltd. (the “Company”) was founded in Israel on November 16, 2014 and commenced its business activity on that date (the “Inception Date”). From the Inception Date, the Company has been active in one operating segment, i.e., development of the technology necessary to create a life-saving system that prevents certain uses of cell phones while driving (the “Saverone System”).

 

B.

The Company’s business position

 

The Company is currently in the early commercialization stage and has not yet generated sufficient revenues from selling of Saverone systems. From the Inception Date and through June 30, 2024, the Company reported losses and a negative cash flow from current operating activity. As of June 30, 2024, the Company has an accumulated deficit of NIS 151,894 and it had a comprehensive loss of NIS 16,284 for the period of six months ended June 30, 2024.

 

On June 5, 2023, the Company entered into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN, LTD., a Cayman Islands exempt limited partnership (“Yorkville”), under which the Company has the right to sell to Yorkville from time to time up to $10,000 thousand (the “Commitment Amount”) of the Company’s American Depository Shares (“ADS”), during a limited period of 48-months, at a price equal to 95% of the lowest of the 3 daily VWAPs (as defined in the SEPA) during a three consecutive trading day period upon delivery of a notice to Yorkville. Upon execution of the SEPA, Yorkville advanced to the Company, an amount of $2,000 thousand out of the Commitment Amount in form of promissory note which accrues annual interest at a rate of 8% and will be mature on the 12-months anniversary of execution based on payments schedule either in cash or by issuance of advance shares.

 

On December 11, 2023, the Company and Yorkville entered into a first amendment to the SEPA pursuant to which Yorkville, upon the Company’s request, agreed to advance to the Company $1,000 thousand of the Commitment Amount in the form of a promissory note equal to $1,000 thousand (the “Second Promissory Note”) with substantially the same terms as the First Promissory Note. Based on amendment from May 8, 2024 ,the second Promissory Note was scheduled to be repaid in 5 equal monthly installments beginning July 8, 2024.  

 

On December 13, 2023, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) pursuant to which the Company agreed to sell and issue to Yorkville through a registered direct offering 1,667,667 ADSs for total gross proceeds of $1,000 thousand (approximately NIS 3,685), at an offering price of $0.60 per ADS.

 

In March 2024, the Company entered into second amendment to the SEPA, which is unconditional committed arrangement to raise additional capital, under which the Commitment Amount was increased to $15,000 thousand.

 

On June 25, 2024, the Company entered into a securities purchase agreement pursuant to which the Company agreed to sell and issue to two institutional investors through a registered direct offering 2,511,111 ADSs for total gross proceeds of $1,130 thousand (approximately NIS 4,222), at an offering price of $0.45 per ADS.

 

7

 

 

SAVERONE 2014 LTD.

 

NOTES TO THE CONDENSED FINANCIAL STATEMENTS (CONT.)

(New Israeli Shekels in thousands, except per share and share data)

 

Note 1 – General (Cont.)

 

B.

The Company’s business position (cont.)

 

During the six months ended on June 30, 2024, the Company sold 3,475,000 advance shares representing 17,375,000 ordinary shares to Yorkville for a total of $2,745 (approximately NIS 10,724 thousand) out of the Commitment Amount under SEPA, of which NIS 6,812 through partial exercise of commitment amount under equity line and NIS 3,912 as partial repayment of Promissory Note.

 

In addition as described in Note 8, on July 16, 2024 the Company entered into a new Standby Equity Purchase Agreement (the “SEPA”) with Yorkville, under which the Company has the right to sell to Yorkville from time to time up to $15,000 thousand (the “Commitment Amount”) of the Company’s ADS, during a limited period of 36-months following the execution of the SEPA. Under the SEPA, Yorkville shall advance to the Company a principal amount of $3,000,000 (the “Pre-Paid Advance”), which shall be evidenced by convertible promissory notes (the “Promissory Notes”), which are convertible into Company’s ADSs. The Pre-Paid Advance were subject to certain terms including the filing of F-1 Registration Statement and effectiveness of the F-1 Registration Statement which was declared effective by the SEC on August 6, 2024. See Notes 3 and 8 below.

 

The Company plans to finance its operations through sale of equity (including using SEPA as described above) and through increasing its revenues from product sales. However, there can be no assurance that the Company will succeed in obtaining the necessary financing or generating sufficient revenues from product sales to meet its current obligations and to achieve its business targets. Those conditions raise substantial doubt about the Company’s ability to continue as a going concern.

 

The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 

C.

The impact of Iron Sword War

 

On October 7, 2023, the State of Israel was attacked by the Hamas terrorist organization, and as a result, the State of Israel declared a state of war and a large-scale mobilization of reserves (the “War”), which is an exceptional event with security and economic implications, the scope and outcome of which cannot be predicted. Following the War, the State of Israel is taking significant steps to maintain the security of Israeli residents, which has had a significant impact on economic and business activity in the country.

 

The management regularly monitors developments and acts in accordance with the guidelines of the various authorities. Since this is an event beyond the Company’s control and characterized by uncertainty, inter alia as to when the War will end, as of the interim financial statements’ approval date, the Company is unable to predict the intensity of the War impact on the Company’s financial condition and its operations results.

 

8

 

 

SAVERONE 2014 LTD.

 

NOTES TO THE CONDENSED FINANCIAL STATEMENTS (CONT.)

(New Israeli Shekels in thousands, except per share and share data)

 

Note 2 - Significant accounting policies

 

A.

Basis of presentation

 

The accompanying unaudited condensed interim financial statements and related notes should be read in conjunction with the Company’s financial statements and related notes included elsewhere in the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2023, which was filed with the Securities and Exchange Commission (“SEC”) on March 25, 2024. The unaudited condensed interim financial statements have been prepared in accordance with the rules and regulations of the SEC related to interim financial statements. The interim condensed financial statements have been prepared in accordance with generally accepted accounting principles for the preparation of financial statements in accordance with IFRS for interim periods, as prescribed in IAS 34 “Interim Financial Reporting”. The financial information contained herein is unaudited; however, management believes all adjustments have been made that are considered necessary to present fairly the results of the Company’s financial position and operating results for the interim periods. All such adjustments are of a normal recurring nature.

 

The results for the six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024 or for any other interim period or for any future period.

 

B.

Material accounting policies

 

The Interim Financial Statements have been prepared in accordance with the accounting policies adopted in the Company’s most recent annual financial statements for the year ended 31 December 2023.

 

C.

Use of estimates in the preparation of financial statements

 

The preparation of financial statements in conformity with IFRS requires management to make accounting estimates and assessments that involve use of judgment and that affect the amounts of assets and liabilities presented in the financial statements, the disclosure of contingent assets and liabilities at the dates of the financial statements, the amounts of revenues and expenses during the reporting periods and the accounting policies adopted by the Company. Actual results could differ from those estimates.

 

D.

New Standards adopted at 1 January 2024

 

Amendments to IAS 1, Presentation of Financial Statements: Classification of Liabilities as Current or Non-Current

 

In January 2020, the IASB issued amendments to IAS 1 to specify the requirements for classifying liabilities as current or non-current. The amendments clarify:

 

The amendments replace certain requirements for classifying liabilities as current or non-current. According to the amendments, a liability will be classified as non-current when the entity has the right to defer settlement for at least 12 months after the reporting period, and it “has substance” and is in existence at the end of the reporting period, this instead of the requirement that there be an “unconditional” right. According to the amendments, a right is in existence at the reporting date only if the entity complies with conditions for deferring settlement at that date. Furthermore, the amendments clarify that the conversion option of a liability will affect its classification as current or non-current, unless when the conversion option is recognized as equity.

 

9

 

 

SAVERONE 2014 LTD.

 

NOTES TO THE CONDENSED FINANCIAL STATEMENTS (CONT.)

(New Israeli Shekels in thousands, except per share and share data)

 

Note 2 - Significant accounting policies (Cont.)

 

D.

New Standards adopted at 1 January 2024 (cont.)

 

Amendments to IAS 1, Presentation of Financial Statements: Classification of Liabilities as Current or Non-Current (cont.)

 

The amendments are effective for reporting periods beginning on or after January 1, 2024 with earlier application being permitted. The amendments are applicable retroactively, including an amendment to comparative data.

 

The implementation of the amendments did not have a material impact on the classification of liabilities in the statements of the Company’s financial position.

 

There are no other accounting pronouncements which have become effective from 1 January 2024 that have a significant impact on the Company’s interim condensed consolidated financial statements.

 

E.

New Standards adopted not yet effective

 

International Financial Reporting Standard 18, Presentation and Disclosure in Financial Statements (“IFRS 18”)

 

On 9 April 2024 the International Accounting Standards Board (IASB) published IFRS 18.

 

IFRS 18, replaces IAS 1 ‘Presentation of Financial Statements’ with the objective to improve how information is communicated in an entity’s financial statements, particularly in the statement of profit or loss and in its notes to the financial statements. 

 

The main changes that will apply to the financial statements with the implementation of IFRS 18, in relation to the presentation and disclosure instructions that apply today include the following:

 

●

IFRS 18 will change the structure of the profit or loss report and will include three new defined categories: operating, investment and financing and will add two new interim summaries: operating profit and profit before financing and income taxes.

 

●

IFRS 18 includes guidelines for providing disclosure on performance indicators defined by management (Management-defined performance measures).

 

●

IFRS 18 provides guidelines regarding the aggregation and disaggregation of the information in the financial statements in relation to the question of whether information should be included in the main reports or in explanations and disclosures regarding items defined as “other”.

 

●

IFRS 18 includes amendments to other standards, including limited amendments to International Accounting Standard 7, Statement of Cash Flows.

 

IFRS 18 will become effective, in a retrospective manner, for annual reporting periods beginning on or after 1 January 2027. Early application of IFRS 18 is permitted.

 

The company is examining the possible impact of the new standard on the financial statements, but at this stage it is unable to assess such an impact. The effect of the new standard, however it may be, will only affect matters of presentation and disclosure.

 

10

 

 

SAVERONE 2014 LTD.

 

NOTES TO THE CONDENSED FINANCIAL STATEMENTS (CONT.)

(New Israeli Shekels in thousands, except per share and share data)

 

Note 3 - Execution of Standby Equity Purchase Agreement and Promissory Note

 

As further described in Note 13C4 to the Company’s annual financial statements for the year ended December 31, 2023 on June 5, 2023, the Company entered into a Standby Equity Purchase Agreement (the “Purchase Agreement” or “SEPA”) with YA II PN, LTD., a Cayman Islands exempt limited partnership (“Yorkville”), under which the Company has the right, but not the obligation, to sell to Yorkville from time to time (each such occurrence, an “Advance”) up to $10,000 thousand (the “Commitment Amount”) of the Company’s ADS, each ADS representing five of the Company’s ordinary shares, NIS 0.01 par value.

 

Upon the execution of the Purchase Agreement, Yorkville, advanced to the Company $2,000 thousand (approximately NIS 7,170) of the Commitment Amount (the “Promissory Note”). The Promissory Note will mature on the 12-months anniversary of execution. The Promissory Note also accrues interest at a rate of 8%, and was issued with a 3% original issue discount, and will be repaid in 10 monthly installments beginning on the 60^th day following the date of the Promissory Note’s execution either in cash or by submitting an advance shares.

 

On December 11, 2023, the Company and Yorkville entered into a first amendment to the SEPA pursuant to which Yorkville, upon the Company’s request, agreed to advance to the Company $1,000 thousand (approximately NIS 3,708 before issuance costs of approximately NIS 111) of the Commitment Amount, which is evidenced by the Second Promissory Note. The Second Promissory Note accrues interest at a rate of 8%, was issued with a 3% original issue discount and will be repaid in 5 equal monthly installments beginning on the 150th day following the execution date of the Second Promissory Note. The Second Promissory Note may be repaid with the proceeds of an Advance under the SEPA or repaid in cash.

 

On March 25, 2024, the Company entered into a second amendment to the SEPA under which the Commitment Amount was increased from original amount of $10,000 thousand to an updated amount of $15,000 thousand.

 

On May 8, 2024 the parties agreed that the Maturity Date in respect of the Second Promissory Note shall be extended to July 8, 2024.

 

See note 8 regarding a new SEPA with Yorkville.

 

The following tabular presentation reflects the reconciliation of the carrying amount of the Promissory Notes during the six-month period ended June 30, 2024:

 

		Six months period ended June 30,
		2024
		Unaudited
Opening balance			7,139
Repayment of First Promissory Note and accrued interest through issuance of ADSs resulted from partial exercise of Commitment Amount under equity line			(3,721	)
Recognition of discount, interest and exchange differences expenses			494
Income from exchange differences			-
Closing balance			3,912

 

11

 

 

SAVERONE 2014 LTD.

 

NOTES TO THE CONDENSED FINANCIAL STATEMENTS (CONT.)

(New Israeli Shekels in thousands, except per share and share data)

 

Note 3 - Execution of Standby Equity Purchase Agreement and Promissory Note (Cont.)

 

During the period commencing on January 1, 2024 through June 30, 2024 , the Company sold 3,475,000 Advance Shares (represented by 17,375,000 ordinary shares) to Yorkville out of the Commitment Amount under SEPA for a total purchase price of $2,745 thousand (approximately NIS 10,724). As part of the above, an amount of $1,026 thousand (approximately NIS 3,912) was accounted for represent a partial repayment of principal and accrued interest related to the first promissory note, and an amount of $ 1,719 (approximately NIS 6,812) represent a practical exercise of commitment amount under equity line.

 

Note 4 - Share capital and reserves

 

A.

Composition of share capital

 

June 30, 2024

December 31, 2023

Authorized

Issued and outstanding

Authorized

Issued and outstanding

Unaudited

Audited

Ordinary shares, par value NIS 0.01 each

1,000,000,000

99,739,786

1,000,000,000

69,579,231

 

B.

Rights attached to the ordinary shares

 

The ordinary shares of the Company grant the holders thereof the right to participate and vote in shareholders meetings, the right to receive a dividend, as declared, the right to participate in distributions of bonus shares and the right to participate in the distribution of the assets of the Company upon liquidation.

 

C.

Changes in the issued and outstanding capital

 

		Six months period ended June 30, 2024
		Unaudited
Balance as of January 1, 2024			69,579,231
Issuance of Advance Shares resulted from partial exercise of Commitment Amount (see Note 3 above)			17,375,000
Issuance of shares as part of shelf prospectus through public offering transaction			12,555,555
Exercise of restricted share units into ordinary shares			180,000
Issuance of ordinary shares for service provider			50,000
Balance as of June 30, 2024			99,739,786

 

Note 5 - Options grant

 

During the six-month period ended June 30, 2024, the Company’s Board of Directors approved an allotment of 107,000 options exercisable into shares of the Company, to several grantees. Each option is exercisable into one ordinary share of the Company par value NIS 0.01, over a vesting terms as determined by the Company’s Board of Directors, against a cash exercise price of NIS 0.837 per share (subject to standard adjustments). The fair value of the benefit in respect of the grant was estimated at an amount of NIS 89 which will be carried to profit and loss over the vesting period.

 

12

 

 

SAVERONE 2014 LTD.

 

NOTES TO THE CONDENSED FINANCIAL STATEMENTS (CONT.)

(New Israeli Shekels in thousands, except per share and share data)

 

Note 6 - Loss per share

 

Basic and diluted net loss per ordinary share

 

Basic net loss per ordinary share is computed by dividing the net loss for the period applicable to ordinary shareholders, by the weighted average number of ordinary shares outstanding during the period (including shares that were fully paid under the pre-funded amount). Diluted loss per share gives effect to all potentially dilutive common shares outstanding during the period using the treasury stock method with respect to options and certain warrants and using the if-converted method with respect to certain warrants accounted for as derivative financial liability. In computing diluted loss per share, the average share price for the period is used in determining the number of shares assumed to be purchased from the exercise of options or warrants.

 

During the period of six months ended June 30, 2024 and 2023, the total weighted average number of ordinary shares, par value NIS 0.01 per share, of the Company related to outstanding options and warrants excluded from the calculation of the diluted loss per share was 19,723,878 and 18,997,479, respectively.

 

The following table presents a summary of the loss and number of shares (including adjustments to such data) that were taken into consideration for purposes of computing the loss per share (both basic and diluted).

 

		Six months period ended June 30,								Year Ended December 31,
		2024				2023				2023
		Unaudited								Audited
Loss attributed to the shareholders of the Company for purposes of computing the basic and diluted loss per share			(16,284	)			(17,753	)			(33,835	)

 

		Number of shares Six months period ended June 30,								Year Ended December 31,
		2024				2023				2023
		Unaudited								Audited
Weighted number of shares used in computing basic and diluted loss per share			79,171,297				27,839,012				31,380,359

 

Note 7 - Financial risk factors

 

A.

General

 

The Company’s activities expose it to a variety of financial risks , market risks, credit risks and liquidity risks. During each period, the Company assesses the financial risks and makes decisions regarding them accordingly.

 

The condensed interim financial statements do not include all financial risk information and disclosures required in the annual financial statements; they should be read in conjunction with the Company’s annual financial statements as of December 31, 2023.

 

There have been no changes in the risk management policies since the year-end.

 

13

 

 

SAVERONE 2014 LTD.

 

NOTES TO THE CONDENSED FINANCIAL STATEMENTS (CONT.)

(New Israeli Shekels in thousands, except per share and share data)

 

Note 7 - Financial risk factors (Cont.)

 

B.

Fair value of financial instruments

 

Items, the carrying value of which approximates their fair value

 

The Company’s financial instruments which are part of its working capital, include cash and cash equivalents, short-term bank deposits, restricted deposits, trade receivables, net other current assets, trade payables and other current liabilities. As of the reported periods, the balances of these financial instruments in the statements of financial position constitute an approximation of their fair values. In addition, the Company has a liability in respect of government grants, a liability in respect of leasing and promissory notes, net that are measured at the initial recognition date at fair value and in subsequent periods at the amortized cost using the effective interest method. Taking into consideration that there has not been a significant change in the discount rate used for recognition of the liabilities and the current discount rate, the balance constitutes an approximation of fair value.

 

Note 8 - Subsequent Events

 

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued (August 15, 2024). Based upon this review, the Company did not identify any other subsequent events that would have required adjustment or disclosure in the financial statements, except as disclosed below.

 

A.

New Standby Equity Purchase Agreement (“New SEPA”)

 

On July 16, 2024 (the “Effective Date”), the Company a second Standby Equity Purchase Agreement (the “New SEPA”) with Yorkville.

 

Pursuant to the New SEPA, subject to certain terms and conditions set forth in the agreement, the Company has the right, but not the obligation, to issue (each such issuance, an “Advance”) to Yorkville, and Yorkville has the obligation to subscribe for the Company’s ADSs”, each representing 5 ordinary shares of the Company, par value NIS 0.01 per share for an aggregate subscription amount of up to $15 million (the “Commitment Amount”), at any time from Effective Date until July 16, 2027, unless earlier terminated pursuant to the New SEPA (the “Commitment Period”), by delivering written notice to Yorkville (each, an “Advance Notice”). The Company will not have the right to require Yorkville to subscribe for any ADSs under the New SEPA if a balance remains outstanding under a Promissory Note without Yorkville’s consent, unless an Amortization Event (as defined in the agreement) has occurred and the proceeds of any Advance is applied towards repayment of a balance under a Promissory Note.

 

Under the New SEPA, Yorkville advanced to the Company the principal amount of $3,000,000 (the “Pre-Paid Advance”), which shall be evidenced by convertible promissory notes (the “Promissory Notes”), which are convertible into Company’s ADSs. The Pre-Paid Advance is subject to a discount in the amount equal to 3% of the principal amount of the Pre-Paid Advance netted from the purchase price due and structured as an original issue discount (the “Original Issue Discount”). The Original Issue Discount does not reduce the principal amount of each Promissory Note. 

 

The first Pre-Paid Advance in a principal amount of $1,000,000 was advanced on July 17, 2024, the second Pre-Paid Advance in a principal amount of $1,000,000 was subject to filing of F-1 Registration Statement, the second Pre-Paid Advance in a principal amount of $1,000,000 and was advanced on July 26, 2024. The third Pre-Paid Advance in a principal amount of $1,000,000 was subject to the effectiveness of the F-1 Registration Statement, which effectiveness was declared on August 6, 2024.

 

14

 

 

Note 8 - Subsequent Events (Cont.)

 

A.

New Standby Equity Purchase Agreement (“New SEPA”) (cont.)

 

Principal, interest and any other payments due under the Promissory Notes shall be paid in cash on January 16, 2026 (the “Maturity Date”), unless converted by Yorkville or redeemed by the Company. Except as specifically permitted by the terms of the Promissory Notes, the Company may not prepay or redeem any portion of the outstanding principal and accrued and unpaid interest thereunder. Subject to the terms set forth in the Promissory Notes, at any time on or after the issuance date, Yorkville shall be entitled to convert any portion of the outstanding principal of the Promissory Notes plus accrued and unpaid interest on such outstanding principal of the Promissory Notes to, but excluding, the conversion date (such amount, the “Conversion Amount”) into ADSs at the Conversion Price (as defined in the agreement). The number of Conversion Shares issuable upon conversion of the Conversion Amount will be determined by dividing (x) such Conversion Amount by (y) the Conversion Price. The “Conversion Price” means, as of any conversion date or other date of determination and subject to adjustments set forth in the Promissory Notes, the lower of (i) $0.5284 per ADS, or (ii) 95% of the lowest daily VWAP during the 5 consecutive trading days immediately preceding the Conversion Date or other date of determination, but not lower than $0.0868 per ADS Share. The Conversion Price will be adjusted from time to time pursuant to the terms and conditions of the Promissory Notes.

 

On August 6, 2024, the SEC declared the F-1 Registration Statement effective and the third Pre-Paid Advance in a principal amount of $1,000,000 was advanced on August 8, 2024, on the second trading day after the effectiveness of the initial Registration Statement. Following effectiveness of Yorkville and the Company intend to utilize the New SEPA as the ongoing funding mechanism in lieu of previous SEPA.

 

B.

Micronet deal

 

On August 26, 2024, the Company completed an asset purchase agreement for the Generation-3 camera products and intellectual property (IP) of Micronet Ltd. (hereinafter - “Micronet”), an Israeli public company which is a developer of advanced telematics systems, cameras, and Driver Monitoring Systems (DMS).  Under the terms of the agreement, the Comapny will acquire the intellectual property and inventory related to Micronet’s Generation 3 camera at no upfront cost. The acquisition is structured as an earn-out agreement, with future royalty payments to Micronet contingent upon the sale of products incorporating the acquired camera technology, if any.

 

15

 

Document And Entity Information	6 Months Ended
	Jun. 30, 2024
Document Information Line Items
Entity Registrant Name	SaverOne 2014 Ltd.
Document Type	6-K/A
Current Fiscal Year End Date	--12-31
Amendment Flag	true
Amendment Description	This Amendment No. 1 to the Report on Form 6-K for the six months ended June 30, 2024, originally filed with the Securities and Exchange Commission on August 27, 2024 (the “Form 6-K”), is being filed solely for the purposes of furnishing Interactive Data File disclosure that was inadvertently omitted from the Form 6-K report. Accordingly, attached to this Form 6-K/A is Exhibit 99.2 containing unaudited Interim Condensed Financial Statements as of June 30, 2024, as filed in the Form 6-K, together with the Interactive Data File disclosure.Other than as expressly set forth above, this Form 6-K/A does not, and does not purport to, amend, update or restate the information in any other item of the Form 6-K, or reflect any events that have occurred after the Form 6-K was originally filed. Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.
Entity Central Index Key	0001894693
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity File Number	001-41387

Condensed Statements of Financial Position - ILS (₪) ₪ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Current assets
Cash and cash equivalents	₪ 11,302	₪ 17,112	₪ 14,773
Short-term bank deposits			3,805
Trade receivables, net	1,290	1,054	1,860
Other current assets	1,247	1,509	921
Inventory	5,760	4,534	3,451
Total current assets	19,599	24,209	24,810
Non-current assets
Trade receivables, net	871	1,051
Property and equipment, net	211	248	252
Restricted deposits	216	211	206
Right of use asset, net	1,142	1,271	354
Total non-current assets	2,440	2,781	812
Total assets	22,039	26,990	25,622
Current liabilities
Promissory note, net	3,912	7,139	7,097
Current maturities of leasing liabilities	469	352	429
Trade payables	3,695	4,303	2,896
Other current liabilities	2,037	2,042	2,456
Derivative warrants liability	57	274	1,819
Liability in respect of government grants	650	694	401
Total current liabilities	10,820	14,804	15,098
Non-current liabilities
Liability in respect of government grants	801	634	970
Leasing liability, net current	796	980
Total non-current liabilities	1,597	1,614	970
Shareholders’ equity
Share capital and premium	150,353	135,243	118,559
Capital reserve in respect of share-based payment	11,163	10,939	10,523
Accumulated deficit	(151,894)	(135,610)	(119,528)
Total shareholders’ equity	9,622	10,572	9,554
Total liabilities and shareholders’ equity	₪ 22,039	₪ 26,990	₪ 25,622

Condensed Statements of Comprehensive Loss - ILS (₪) ₪ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Profit or loss [abstract]
Revenues	₪ 483	₪ 1,475	₪ 2,720
Cost of revenues	(398)	(1,008)	(1,968)
Gross profit	85	467	752
Research and development expenses, net	(8,897)	(12,188)	(22,861)
Selling and marketing expenses	(2,406)	(1,449)	(3,787)
General and administrative expenses	(4,460)	(4,468)	(8,327)
Operating loss	(15,678)	(17,638)	(34,223)
Financing expenses	(1,242)	(800)	(1,219)
Financing income	636	685	1,607
Financing income (expenses), net	(606)	(115)	388
Loss for the period	(16,284)	(17,753)	(33,835)
Comprehensive loss for the period	₪ (16,284)	₪ (17,753)	₪ (33,835)
Basic loss per share (in New Shekels per share)	₪ (0.21)	₪ (0.64)	₪ (1.08)
Weighted average of number of shares used to calculate the basic loss per share (in Shares)	79,171,297	27,839,012	31,380,359

Condensed Statements of Comprehensive Loss (Parentheticals) - ₪ / shares	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Profit or loss [abstract]
Diluted loss per share	₪ (0.21)	₪ (0.64)	₪ (1.08)
Weighted average of number of shares used to calculate the diluted loss per share	79,171,297	27,839,012	31,380,359

Condensed Statements of Changes In Shareholders’ Equity - ILS (₪) ₪ in Thousands	Share capital and premium	Capital reserve in respect of share-based payment	Accumulated deficit	Total
Balance at Dec. 31, 2022	₪ 118,284	₪ 10,045	₪ (101,775)	₪ 26,554
Share-based payment		478		478
Net proceeds allocated to ADSs issued as Commitment Shares in transaction of equity line	87			87
Issuance of ADS resulted from partial exercise of Commitment Amount under equity line	188			188
Comprehensive loss for the period			(17,753)	(17,753)
Balance at Jun. 30, 2023	118,559	10,523	(119,528)	9,554
Balance at Dec. 31, 2022	118,284	10,045	(101,775)	26,554
Share-based payment		978		978
Net proceeds allocated to ADSs issued as Commitment Shares in transaction of equity line	87			87
Issuance of ADS resulted from partial exercise of Commitment Amount under equity line	9,670			9,670
Repayment of promissory note through issuance of ADSs resulted from partial exercise of Commitment Amount under equity line	3,433			3,433
Net proceeds received from issuance of ADSs as part of shelf prospectus through public offering transaction	3,685			3,685
Exercise of restricted share units into ordinary shares	84	(84)
Comprehensive loss for the period			(33,835)	(33,835)
Balance at Dec. 31, 2023	135,243	10,939	(135,610)	10,572
Share-based payment		388		388
Issuance of ADS resulted from partial exercise of Commitment Amount under equity line	6,812			6,812
Repayment of promissory note through issuance of ADSs resulted from partial exercise of Commitment Amount under equity line	3,912			3,912
Net proceeds received from issuance of ADSs as part of shelf prospectus through public offering transaction	4,222			4,222
Exercise of restricted share units into ordinary shares	164	(164)
Comprehensive loss for the period			(16,284)	(16,284)
Balance at Jun. 30, 2024	₪ 150,353	₪ 11,163	₪ (151,894)	₪ 9,622

Condensed Statements of Cash Flows ₪ in Thousands, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024 ILS (₪)	Jun. 30, 2023 ILS (₪)	Dec. 31, 2023 ILS (₪)
Cash flow from operating activity
Comprehensive loss for the period	₪ (16,284)	₪ (17,753)	₪ (33,835)
Adjustments required to present cash flows from operating activities (Appendix A)	(31)	(214)	(1,185)
Net cash used in operating activities	(16,315)	(17,967)	(35,020)
Cash flows from investment activity
Change in restricted deposits	(5)	(5)
Changes in short-term deposits		6,265	10,070
Purchase of property and equipment	(10)	(75)	(128)
Net cash provided by (used in) investment activity	(15)	6,185	9,942
Cash flows from financing activity
Net proceeds received from issuance of unit includes put options, promissory note and ADS as Commitment Shares in transaction of equity line granted		7,170	7,170
Proceeds received from issuance of ADSs resulted from partial exercise of Commitment Amount under equity line	6,307	188	9,259
Repayment of first promissory note (principal and interest)			(754)
Net proceeds received from issuance of second promissory note			3,597
Net proceeds received from issuance of ADSs as part of shelf prospectus through public offering transaction	4,222		3,685
Repayment of principal in respect of lease liability	(117)	(234)	(467)
Net cash provided by financing activity	10,412	7,124	22,490
Change in balance of cash and cash equivalents	(5,918)	(4,658)	(2,588)
Exchange differences on cash and cash equivalents	108	191	460
Balance of cash and cash equivalents, beginning of period	17,112	19,240	19,240
Balance of cash and cash equivalents, end of period	11,302	14,773	17,112
Income and expenses not involving cash flows
Depreciation	47	41	98
Amortization of right for use asset	129	213	425
Interest expenses related to leasing liabilities	50	15	22
Share-based payment	388	478	978
Revaluation of derivative warrant liability	(217)	668	(877)
Recognition of discount, interest and exchange differences expenses related to Promissory Note	494	14	526
Finance expenses incurred from partial exercise of Commitment Amount under equity line	696		531
Exchange differences on cash and cash equivalent	(108)	(191)	(470)
Changes in liability in respect of government grants	123	117	74
Income and expenses not involving cash flows total	1,602	1,355	1,307
Changes in asset and liability items
Decrease (increase) in other current assets	262	95	(493)
Increase in trade receivables	(56)	(763)	(1,008)
Increase in inventory	(1,226)	(1,425)	(2,508)
Increase (decrease) in trade payables	(608)	940	2,347
Increase in other current liabilities	(5)	(416)	(830)
Changes in asset and liability total	(1,633)	(1,569)	(2,492)
Adjustments required to present cash flows from operating activities	(31)	(214)	(1,185)
Appendix B – Non-cash investment and financing activities
Recognition of right for usage asset against a leasing liability			1,129
Repayment of first promissory note (principal and interest) through issuance of ADSs resulted from partial exercise of Commitment Amount under equity line	₪ 3,721		₪ 3,313

General	6 Months Ended
	Jun. 30, 2024
General [Abstract]
General	Note 1 - General   A. Incorporation and operations   Saverone 2014 Ltd. (the “Company”) was founded in Israel on November 16, 2014 and commenced its business activity on that date (the “Inception Date”). From the Inception Date, the Company has been active in one operating segment, i.e., development of the technology necessary to create a life-saving system that prevents certain uses of cell phones while driving (the “Saverone System”).   B. The Company’s business position   The Company is currently in the early commercialization stage and has not yet generated sufficient revenues from selling of Saverone systems. From the Inception Date and through June 30, 2024, the Company reported losses and a negative cash flow from current operating activity. As of June 30, 2024, the Company has an accumulated deficit of NIS 151,894 and it had a comprehensive loss of NIS 16,284 for the period of six months ended June 30, 2024.   On June 5, 2023, the Company entered into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN, LTD., a Cayman Islands exempt limited partnership (“Yorkville”), under which the Company has the right to sell to Yorkville from time to time up to $10,000 thousand (the “Commitment Amount”) of the Company’s American Depository Shares (“ADS”), during a limited period of 48-months, at a price equal to 95% of the lowest of the 3 daily VWAPs (as defined in the SEPA) during a three consecutive trading day period upon delivery of a notice to Yorkville. Upon execution of the SEPA, Yorkville advanced to the Company, an amount of $2,000 thousand out of the Commitment Amount in form of promissory note which accrues annual interest at a rate of 8% and will be mature on the 12-months anniversary of execution based on payments schedule either in cash or by issuance of advance shares.   On December 11, 2023, the Company and Yorkville entered into a first amendment to the SEPA pursuant to which Yorkville, upon the Company’s request, agreed to advance to the Company $1,000 thousand of the Commitment Amount in the form of a promissory note equal to $1,000 thousand (the “Second Promissory Note”) with substantially the same terms as the First Promissory Note. Based on amendment from May 8, 2024 ,the second Promissory Note was scheduled to be repaid in 5 equal monthly installments beginning July 8, 2024.     On December 13, 2023, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) pursuant to which the Company agreed to sell and issue to Yorkville through a registered direct offering 1,667,667 ADSs for total gross proceeds of $1,000 thousand (approximately NIS 3,685), at an offering price of $0.60 per ADS.   In March 2024, the Company entered into second amendment to the SEPA, which is unconditional committed arrangement to raise additional capital, under which the Commitment Amount was increased to $15,000 thousand.   On June 25, 2024, the Company entered into a securities purchase agreement pursuant to which the Company agreed to sell and issue to two institutional investors through a registered direct offering 2,511,111 ADSs for total gross proceeds of $1,130 thousand (approximately NIS 4,222), at an offering price of $0.45 per ADS.   During the six months ended on June 30, 2024, the Company sold 3,475,000 advance shares representing 17,375,000 ordinary shares to Yorkville for a total of $2,745 (approximately NIS 10,724 thousand) out of the Commitment Amount under SEPA, of which NIS 6,812 through partial exercise of commitment amount under equity line and NIS 3,912 as partial repayment of Promissory Note.   In addition as described in Note 8, on July 16, 2024 the Company entered into a new Standby Equity Purchase Agreement (the “SEPA”) with Yorkville, under which the Company has the right to sell to Yorkville from time to time up to $15,000 thousand (the “Commitment Amount”) of the Company’s ADS, during a limited period of 36-months following the execution of the SEPA. Under the SEPA, Yorkville shall advance to the Company a principal amount of $3,000,000 (the “Pre-Paid Advance”), which shall be evidenced by convertible promissory notes (the “Promissory Notes”), which are convertible into Company’s ADSs. The Pre-Paid Advance were subject to certain terms including the filing of F-1 Registration Statement and effectiveness of the F-1 Registration Statement which was declared effective by the SEC on August 6, 2024. See Notes 3 and 8 below.   The Company plans to finance its operations through sale of equity (including using SEPA as described above) and through increasing its revenues from product sales. However, there can be no assurance that the Company will succeed in obtaining the necessary financing or generating sufficient revenues from product sales to meet its current obligations and to achieve its business targets. Those conditions raise substantial doubt about the Company’s ability to continue as a going concern.   The financial statements do not include any adjustments that might result from the outcome of this uncertainty.   C. The impact of Iron Sword War   On October 7, 2023, the State of Israel was attacked by the Hamas terrorist organization, and as a result, the State of Israel declared a state of war and a large-scale mobilization of reserves (the “War”), which is an exceptional event with security and economic implications, the scope and outcome of which cannot be predicted. Following the War, the State of Israel is taking significant steps to maintain the security of Israeli residents, which has had a significant impact on economic and business activity in the country.   The management regularly monitors developments and acts in accordance with the guidelines of the various authorities. Since this is an event beyond the Company’s control and characterized by uncertainty, inter alia as to when the War will end, as of the interim financial statements’ approval date, the Company is unable to predict the intensity of the War impact on the Company’s financial condition and its operations results.

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Corporate information and statement of IFRS compliance [abstract]
Significant accounting policies	Note 2 - Significant accounting policies   A. Basis of presentation   The accompanying unaudited condensed interim financial statements and related notes should be read in conjunction with the Company’s financial statements and related notes included elsewhere in the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2023, which was filed with the Securities and Exchange Commission (“SEC”) on March 25, 2024. The unaudited condensed interim financial statements have been prepared in accordance with the rules and regulations of the SEC related to interim financial statements. The interim condensed financial statements have been prepared in accordance with generally accepted accounting principles for the preparation of financial statements in accordance with IFRS for interim periods, as prescribed in IAS 34 “Interim Financial Reporting”. The financial information contained herein is unaudited; however, management believes all adjustments have been made that are considered necessary to present fairly the results of the Company’s financial position and operating results for the interim periods. All such adjustments are of a normal recurring nature.   The results for the six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024 or for any other interim period or for any future period.   B. Material accounting policies   The Interim Financial Statements have been prepared in accordance with the accounting policies adopted in the Company’s most recent annual financial statements for the year ended 31 December 2023.   C. Use of estimates in the preparation of financial statements   The preparation of financial statements in conformity with IFRS requires management to make accounting estimates and assessments that involve use of judgment and that affect the amounts of assets and liabilities presented in the financial statements, the disclosure of contingent assets and liabilities at the dates of the financial statements, the amounts of revenues and expenses during the reporting periods and the accounting policies adopted by the Company. Actual results could differ from those estimates.   D. New Standards adopted at 1 January 2024   Amendments to IAS 1, Presentation of Financial Statements: Classification of Liabilities as Current or Non-Current   In January 2020, the IASB issued amendments to IAS 1 to specify the requirements for classifying liabilities as current or non-current. The amendments clarify:   The amendments replace certain requirements for classifying liabilities as current or non-current. According to the amendments, a liability will be classified as non-current when the entity has the right to defer settlement for at least 12 months after the reporting period, and it “has substance” and is in existence at the end of the reporting period, this instead of the requirement that there be an “unconditional” right. According to the amendments, a right is in existence at the reporting date only if the entity complies with conditions for deferring settlement at that date. Furthermore, the amendments clarify that the conversion option of a liability will affect its classification as current or non-current, unless when the conversion option is recognized as equity.   The amendments are effective for reporting periods beginning on or after January 1, 2024 with earlier application being permitted. The amendments are applicable retroactively, including an amendment to comparative data.   The implementation of the amendments did not have a material impact on the classification of liabilities in the statements of the Company’s financial position.   There are no other accounting pronouncements which have become effective from 1 January 2024 that have a significant impact on the Company’s interim condensed consolidated financial statements.   E. New Standards adopted not yet effective   International Financial Reporting Standard 18, Presentation and Disclosure in Financial Statements (“IFRS 18”)   On 9 April 2024 the International Accounting Standards Board (IASB) published IFRS 18.   IFRS 18, replaces IAS 1 ‘Presentation of Financial Statements’ with the objective to improve how information is communicated in an entity’s financial statements, particularly in the statement of profit or loss and in its notes to the financial statements.    The main changes that will apply to the financial statements with the implementation of IFRS 18, in relation to the presentation and disclosure instructions that apply today include the following:   ● IFRS 18 will change the structure of the profit or loss report and will include three new defined categories: operating, investment and financing and will add two new interim summaries: operating profit and profit before financing and income taxes.   ● IFRS 18 includes guidelines for providing disclosure on performance indicators defined by management (Management-defined performance measures).   ● IFRS 18 provides guidelines regarding the aggregation and disaggregation of the information in the financial statements in relation to the question of whether information should be included in the main reports or in explanations and disclosures regarding items defined as “other”.   ● IFRS 18 includes amendments to other standards, including limited amendments to International Accounting Standard 7, Statement of Cash Flows.   IFRS 18 will become effective, in a retrospective manner, for annual reporting periods beginning on or after 1 January 2027. Early application of IFRS 18 is permitted.   The company is examining the possible impact of the new standard on the financial statements, but at this stage it is unable to assess such an impact. The effect of the new standard, however it may be, will only affect matters of presentation and disclosure.

Execution of Standby Equity Purchase Agreement and Promissory Note	6 Months Ended
	Jun. 30, 2024
Execution of Standby Equity Purchase Agreement and Promissory Note [Abstract]
Execution of Standby Equity Purchase Agreement and Promissory Note	Note 3 - Execution of Standby Equity Purchase Agreement and Promissory Note   As further described in Note 13C4 to the Company’s annual financial statements for the year ended December 31, 2023 on June 5, 2023, the Company entered into a Standby Equity Purchase Agreement (the “Purchase Agreement” or “SEPA”) with YA II PN, LTD., a Cayman Islands exempt limited partnership (“Yorkville”), under which the Company has the right, but not the obligation, to sell to Yorkville from time to time (each such occurrence, an “Advance”) up to $10,000 thousand (the “Commitment Amount”) of the Company’s ADS, each ADS representing five of the Company’s ordinary shares, NIS 0.01 par value.   Upon the execution of the Purchase Agreement, Yorkville, advanced to the Company $2,000 thousand (approximately NIS 7,170) of the Commitment Amount (the “Promissory Note”). The Promissory Note will mature on the 12-months anniversary of execution. The Promissory Note also accrues interest at a rate of 8%, and was issued with a 3% original issue discount, and will be repaid in 10 monthly installments beginning on the 60th day following the date of the Promissory Note’s execution either in cash or by submitting an advance shares.   On December 11, 2023, the Company and Yorkville entered into a first amendment to the SEPA pursuant to which Yorkville, upon the Company’s request, agreed to advance to the Company $1,000 thousand (approximately NIS 3,708 before issuance costs of approximately NIS 111) of the Commitment Amount, which is evidenced by the Second Promissory Note. The Second Promissory Note accrues interest at a rate of 8%, was issued with a 3% original issue discount and will be repaid in 5 equal monthly installments beginning on the 150th day following the execution date of the Second Promissory Note. The Second Promissory Note may be repaid with the proceeds of an Advance under the SEPA or repaid in cash.   On March 25, 2024, the Company entered into a second amendment to the SEPA under which the Commitment Amount was increased from original amount of $10,000 thousand to an updated amount of $15,000 thousand.   On May 8, 2024 the parties agreed that the Maturity Date in respect of the Second Promissory Note shall be extended to July 8, 2024.   See note 8 regarding a new SEPA with Yorkville.   The following tabular presentation reflects the reconciliation of the carrying amount of the Promissory Notes during the six-month period ended June 30, 2024:       Six months period ended June 30,       2024       Unaudited   Opening balance     7,139   Repayment of First Promissory Note and accrued interest through issuance of ADSs resulted from partial exercise of Commitment Amount under equity line     (3,721 ) Recognition of discount, interest and exchange differences expenses     494   Income from exchange differences     -   Closing balance     3,912     During the period commencing on January 1, 2024 through June 30, 2024 , the Company sold 3,475,000 Advance Shares (represented by 17,375,000 ordinary shares) to Yorkville out of the Commitment Amount under SEPA for a total purchase price of $2,745 thousand (approximately NIS 10,724). As part of the above, an amount of $1,026 thousand (approximately NIS 3,912) was accounted for represent a partial repayment of principal and accrued interest related to the first promissory note, and an amount of $ 1,719 (approximately NIS 6,812) represent a practical exercise of commitment amount under equity line.

Share Capital and Reserves	6 Months Ended
	Jun. 30, 2024
Share Capital and Reserves [Abstract]
Share capital and reserves	Note 4 - Share capital and reserves   A. Composition of share capital       June 30, 2024     December 31, 2023       Authorized     Issued and outstanding     Authorized     Issued and outstanding       Unaudited     Audited                                     Ordinary shares, par value NIS 0.01 each     1,000,000,000       99,739,786       1,000,000,000       69,579,231     B. Rights attached to the ordinary shares   The ordinary shares of the Company grant the holders thereof the right to participate and vote in shareholders meetings, the right to receive a dividend, as declared, the right to participate in distributions of bonus shares and the right to participate in the distribution of the assets of the Company upon liquidation.   C. Changes in the issued and outstanding capital       Six months period ended June 30, 2024       Unaudited           Balance as of January 1, 2024     69,579,231   Issuance of Advance Shares resulted from partial exercise of Commitment Amount (see Note 3 above)     17,375,000   Issuance of shares as part of shelf prospectus through public offering transaction     12,555,555   Exercise of restricted share units into ordinary shares     180,000   Issuance of ordinary shares for service provider     50,000   Balance as of June 30, 2024     99,739,786

Options Grant	6 Months Ended
	Jun. 30, 2024
Options Grant [Abstract]
Options grant	Note 5 - Options grant   During the six-month period ended June 30, 2024, the Company’s Board of Directors approved an allotment of 107,000 options exercisable into shares of the Company, to several grantees. Each option is exercisable into one ordinary share of the Company par value NIS 0.01, over a vesting terms as determined by the Company’s Board of Directors, against a cash exercise price of NIS 0.837 per share (subject to standard adjustments). The fair value of the benefit in respect of the grant was estimated at an amount of NIS 89 which will be carried to profit and loss over the vesting period.

Loss Per Share	6 Months Ended
	Jun. 30, 2024
Loss Per Share [Abstract
Loss per share	Note 6 - Loss per share   Basic and diluted net loss per ordinary share   Basic net loss per ordinary share is computed by dividing the net loss for the period applicable to ordinary shareholders, by the weighted average number of ordinary shares outstanding during the period (including shares that were fully paid under the pre-funded amount). Diluted loss per share gives effect to all potentially dilutive common shares outstanding during the period using the treasury stock method with respect to options and certain warrants and using the if-converted method with respect to certain warrants accounted for as derivative financial liability. In computing diluted loss per share, the average share price for the period is used in determining the number of shares assumed to be purchased from the exercise of options or warrants.   During the period of six months ended June 30, 2024 and 2023, the total weighted average number of ordinary shares, par value NIS 0.01 per share, of the Company related to outstanding options and warrants excluded from the calculation of the diluted loss per share was 19,723,878 and 18,997,479, respectively.   The following table presents a summary of the loss and number of shares (including adjustments to such data) that were taken into consideration for purposes of computing the loss per share (both basic and diluted).       Six months period ended June 30,     Year Ended December 31,       2024     2023     2023       Unaudited     Audited   Loss attributed to the shareholders of the Company for purposes of computing the basic and diluted loss per share     (16,284 )     (17,753 )     (33,835 )       Number of shares Six months period ended June 30,     Year Ended December 31,       2024     2023     2023       Unaudited     Audited   Weighted number of shares used in computing basic and diluted loss per share     79,171,297       27,839,012       31,380,359

Financial Risk Factors	6 Months Ended
	Jun. 30, 2024
Financial Risk Factors [Abstract]
Financial risk factors	Note 7 - Financial risk factors   A. General   The Company’s activities expose it to a variety of financial risks , market risks, credit risks and liquidity risks. During each period, the Company assesses the financial risks and makes decisions regarding them accordingly.   The condensed interim financial statements do not include all financial risk information and disclosures required in the annual financial statements; they should be read in conjunction with the Company’s annual financial statements as of December 31, 2023.   There have been no changes in the risk management policies since the year-end.   B. Fair value of financial instruments   Items, the carrying value of which approximates their fair value   The Company’s financial instruments which are part of its working capital, include cash and cash equivalents, short-term bank deposits, restricted deposits, trade receivables, net other current assets, trade payables and other current liabilities. As of the reported periods, the balances of these financial instruments in the statements of financial position constitute an approximation of their fair values. In addition, the Company has a liability in respect of government grants, a liability in respect of leasing and promissory notes, net that are measured at the initial recognition date at fair value and in subsequent periods at the amortized cost using the effective interest method. Taking into consideration that there has not been a significant change in the discount rate used for recognition of the liabilities and the current discount rate, the balance constitutes an approximation of fair value.

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 8 - Subsequent Events   The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued (August 15, 2024). Based upon this review, the Company did not identify any other subsequent events that would have required adjustment or disclosure in the financial statements, except as disclosed below.   A. New Standby Equity Purchase Agreement (“New SEPA”)   On July 16, 2024 (the “Effective Date”), the Company a second Standby Equity Purchase Agreement (the “New SEPA”) with Yorkville.   Pursuant to the New SEPA, subject to certain terms and conditions set forth in the agreement, the Company has the right, but not the obligation, to issue (each such issuance, an “Advance”) to Yorkville, and Yorkville has the obligation to subscribe for the Company’s ADSs”, each representing 5 ordinary shares of the Company, par value NIS 0.01 per share for an aggregate subscription amount of up to $15 million (the “Commitment Amount”), at any time from Effective Date until July 16, 2027, unless earlier terminated pursuant to the New SEPA (the “Commitment Period”), by delivering written notice to Yorkville (each, an “Advance Notice”). The Company will not have the right to require Yorkville to subscribe for any ADSs under the New SEPA if a balance remains outstanding under a Promissory Note without Yorkville’s consent, unless an Amortization Event (as defined in the agreement) has occurred and the proceeds of any Advance is applied towards repayment of a balance under a Promissory Note.   Under the New SEPA, Yorkville advanced to the Company the principal amount of $3,000,000 (the “Pre-Paid Advance”), which shall be evidenced by convertible promissory notes (the “Promissory Notes”), which are convertible into Company’s ADSs. The Pre-Paid Advance is subject to a discount in the amount equal to 3% of the principal amount of the Pre-Paid Advance netted from the purchase price due and structured as an original issue discount (the “Original Issue Discount”). The Original Issue Discount does not reduce the principal amount of each Promissory Note.    The first Pre-Paid Advance in a principal amount of $1,000,000 was advanced on July 17, 2024, the second Pre-Paid Advance in a principal amount of $1,000,000 was subject to filing of F-1 Registration Statement, the second Pre-Paid Advance in a principal amount of $1,000,000 and was advanced on July 26, 2024. The third Pre-Paid Advance in a principal amount of $1,000,000 was subject to the effectiveness of the F-1 Registration Statement, which effectiveness was declared on August 6, 2024.   Principal, interest and any other payments due under the Promissory Notes shall be paid in cash on January 16, 2026 (the “Maturity Date”), unless converted by Yorkville or redeemed by the Company. Except as specifically permitted by the terms of the Promissory Notes, the Company may not prepay or redeem any portion of the outstanding principal and accrued and unpaid interest thereunder. Subject to the terms set forth in the Promissory Notes, at any time on or after the issuance date, Yorkville shall be entitled to convert any portion of the outstanding principal of the Promissory Notes plus accrued and unpaid interest on such outstanding principal of the Promissory Notes to, but excluding, the conversion date (such amount, the “Conversion Amount”) into ADSs at the Conversion Price (as defined in the agreement). The number of Conversion Shares issuable upon conversion of the Conversion Amount will be determined by dividing (x) such Conversion Amount by (y) the Conversion Price. The “Conversion Price” means, as of any conversion date or other date of determination and subject to adjustments set forth in the Promissory Notes, the lower of (i) $0.5284 per ADS, or (ii) 95% of the lowest daily VWAP during the 5 consecutive trading days immediately preceding the Conversion Date or other date of determination, but not lower than $0.0868 per ADS Share. The Conversion Price will be adjusted from time to time pursuant to the terms and conditions of the Promissory Notes.   On August 6, 2024, the SEC declared the F-1 Registration Statement effective and the third Pre-Paid Advance in a principal amount of $1,000,000 was advanced on August 8, 2024, on the second trading day after the effectiveness of the initial Registration Statement. Following effectiveness of Yorkville and the Company intend to utilize the New SEPA as the ongoing funding mechanism in lieu of previous SEPA.   B. Micronet deal   On August 26, 2024, the Company completed an asset purchase agreement for the Generation-3 camera products and intellectual property (IP) of Micronet Ltd. (hereinafter - “Micronet”), an Israeli public company which is a developer of advanced telematics systems, cameras, and Driver Monitoring Systems (DMS).  Under the terms of the agreement, the Comapny will acquire the intellectual property and inventory related to Micronet’s Generation 3 camera at no upfront cost. The acquisition is structured as an earn-out agreement, with future royalty payments to Micronet contingent upon the sale of products incorporating the acquired camera technology, if any.

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of presentation	A. Basis of presentation The accompanying unaudited condensed interim financial statements and related notes should be read in conjunction with the Company’s financial statements and related notes included elsewhere in the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2023, which was filed with the Securities and Exchange Commission (“SEC”) on March 25, 2024. The unaudited condensed interim financial statements have been prepared in accordance with the rules and regulations of the SEC related to interim financial statements. The interim condensed financial statements have been prepared in accordance with generally accepted accounting principles for the preparation of financial statements in accordance with IFRS for interim periods, as prescribed in IAS 34 “Interim Financial Reporting”. The financial information contained herein is unaudited; however, management believes all adjustments have been made that are considered necessary to present fairly the results of the Company’s financial position and operating results for the interim periods. All such adjustments are of a normal recurring nature. The results for the six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024 or for any other interim period or for any future period.
Material accounting policies	B. Material accounting policies The Interim Financial Statements have been prepared in accordance with the accounting policies adopted in the Company’s most recent annual financial statements for the year ended 31 December 2023.
Use of estimates in the preparation of financial statements	C. Use of estimates in the preparation of financial statements The preparation of financial statements in conformity with IFRS requires management to make accounting estimates and assessments that involve use of judgment and that affect the amounts of assets and liabilities presented in the financial statements, the disclosure of contingent assets and liabilities at the dates of the financial statements, the amounts of revenues and expenses during the reporting periods and the accounting policies adopted by the Company. Actual results could differ from those estimates.
New Standards adopted at 1 January 2024	D. New Standards adopted at 1 January 2024 Amendments to IAS 1, Presentation of Financial Statements: Classification of Liabilities as Current or Non-Current In January 2020, the IASB issued amendments to IAS 1 to specify the requirements for classifying liabilities as current or non-current. The amendments clarify: The amendments replace certain requirements for classifying liabilities as current or non-current. According to the amendments, a liability will be classified as non-current when the entity has the right to defer settlement for at least 12 months after the reporting period, and it “has substance” and is in existence at the end of the reporting period, this instead of the requirement that there be an “unconditional” right. According to the amendments, a right is in existence at the reporting date only if the entity complies with conditions for deferring settlement at that date. Furthermore, the amendments clarify that the conversion option of a liability will affect its classification as current or non-current, unless when the conversion option is recognized as equity.   The amendments are effective for reporting periods beginning on or after January 1, 2024 with earlier application being permitted. The amendments are applicable retroactively, including an amendment to comparative data. The implementation of the amendments did not have a material impact on the classification of liabilities in the statements of the Company’s financial position. There are no other accounting pronouncements which have become effective from 1 January 2024 that have a significant impact on the Company’s interim condensed consolidated financial statements.
New Standards adopted not yet effective	E. New Standards adopted not yet effective International Financial Reporting Standard 18, Presentation and Disclosure in Financial Statements (“IFRS 18”) On 9 April 2024 the International Accounting Standards Board (IASB) published IFRS 18. IFRS 18, replaces IAS 1 ‘Presentation of Financial Statements’ with the objective to improve how information is communicated in an entity’s financial statements, particularly in the statement of profit or loss and in its notes to the financial statements.  The main changes that will apply to the financial statements with the implementation of IFRS 18, in relation to the presentation and disclosure instructions that apply today include the following: ● IFRS 18 will change the structure of the profit or loss report and will include three new defined categories: operating, investment and financing and will add two new interim summaries: operating profit and profit before financing and income taxes. ● IFRS 18 includes guidelines for providing disclosure on performance indicators defined by management (Management-defined performance measures). ● IFRS 18 provides guidelines regarding the aggregation and disaggregation of the information in the financial statements in relation to the question of whether information should be included in the main reports or in explanations and disclosures regarding items defined as “other”. ● IFRS 18 includes amendments to other standards, including limited amendments to International Accounting Standard 7, Statement of Cash Flows. IFRS 18 will become effective, in a retrospective manner, for annual reporting periods beginning on or after 1 January 2027. Early application of IFRS 18 is permitted. The company is examining the possible impact of the new standard on the financial statements, but at this stage it is unable to assess such an impact. The effect of the new standard, however it may be, will only affect matters of presentation and disclosure.

Execution of Standby Equity Purchase Agreement and Promissory Note (Tables)	6 Months Ended
	Jun. 30, 2024
Execution of Standby Equity Purchase Agreement and Promissory Note [Abstract]
Schedule of Reconciliation of the Carrying Amount of the Promissory Notes	The following tabular presentation reflects the reconciliation of the carrying amount of the Promissory Notes during the six-month period ended June 30, 2024:     Six months period ended June 30,       2024       Unaudited   Opening balance     7,139   Repayment of First Promissory Note and accrued interest through issuance of ADSs resulted from partial exercise of Commitment Amount under equity line     (3,721 ) Recognition of discount, interest and exchange differences expenses     494   Income from exchange differences     -   Closing balance     3,912

Share Capital and Reserves (Tables)	6 Months Ended
	Jun. 30, 2024
Share Capital and Reserves [Abstract]
Schedule of Composition of Share Capital	A.Composition of share capital     June 30, 2024     December 31, 2023       Authorized     Issued and outstanding     Authorized     Issued and outstanding       Unaudited     Audited                                     Ordinary shares, par value NIS 0.01 each     1,000,000,000       99,739,786       1,000,000,000       69,579,231
Schedule of Changes in the Issued and Outstanding Capital	C.Changes in the issued and outstanding capital     Six months period ended June 30, 2024       Unaudited           Balance as of January 1, 2024     69,579,231   Issuance of Advance Shares resulted from partial exercise of Commitment Amount (see Note 3 above)     17,375,000   Issuance of shares as part of shelf prospectus through public offering transaction     12,555,555   Exercise of restricted share units into ordinary shares     180,000   Issuance of ordinary shares for service provider     50,000   Balance as of June 30, 2024     99,739,786

Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Loss Per Share [Abstract
Schedule of Loss and Number of Shares Basic and Diluted	The following table presents a summary of the loss and number of shares (including adjustments to such data) that were taken into consideration for purposes of computing the loss per share (both basic and diluted).     Six months period ended June 30,     Year Ended December 31,       2024     2023     2023       Unaudited     Audited   Loss attributed to the shareholders of the Company for purposes of computing the basic and diluted loss per share     (16,284 )     (17,753 )     (33,835 )     Number of shares Six months period ended June 30,     Year Ended December 31,       2024     2023     2023       Unaudited     Audited   Weighted number of shares used in computing basic and diluted loss per share     79,171,297       27,839,012       31,380,359

General (Details) ₪ / shares in Units, $ / shares in Units, ₪ in Thousands, $ in Thousands									6 Months Ended			12 Months Ended
	Jul. 16, 2024 USD ($)	Jun. 25, 2024 ILS (₪) ₪ / shares shares	Jun. 25, 2024 USD ($) shares	Mar. 31, 2024 USD ($)	Dec. 13, 2023 ILS (₪) shares	Dec. 13, 2023 USD ($) $ / shares shares	Dec. 11, 2023 USD ($)	Jun. 05, 2023 USD ($)	Jun. 30, 2024 ILS (₪) shares	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 ILS (₪)	Dec. 31, 2023 ILS (₪)
General [Line Items]
Operating segment									1	1
Accumulated deficit (in New Shekels) | ₪									₪ (151,894)		₪ (119,528)	₪ (135,610)
Comprehensive loss (in New Shekels) | ₪									(16,284)		(17,753)	(33,835)
Commitment amount | $	$ 15,000
Price rate								95.00%
Annual interest at a rate								8.00%
Company issued shares (in Shares) | shares		2,511,111	2,511,111		1,667,667	1,667,667
Gross proceeds		₪ 4,222	$ 1,130		₪ 3,685	$ 1,000			₪ 6,307		188	9,259
Offering price | (per share)		₪ 0.45				$ 0.6
Advance shares (in Shares) | shares									3,475,000	3,475,000
Partial exercise of commitment amount (in New Shekels) | ₪									₪ 6,812
Promissory note (in New Shekels) | ₪												₪ 754
Principal amount | $	$ 3,000,000
Ordinary Shares [Member]
General [Line Items]
Ordinary shares issued (in Shares) | shares									17,375,000
Promissory Note [Member]
General [Line Items]
Commitment amount | $							$ 1,000	$ 2,000
Promissory note (in New Shekels) | ₪									₪ 3,912
Second Promissory Note [Member]
General [Line Items]
Commitment amount | $							$ 1,000
Yorkville [Member]
General [Line Items]
Commitment amount | $								$ 10,000		$ 15,000
SEPA [Member]
General [Line Items]
Commitment amount				$ 15,000					₪ 10,724	$ 2,745

Execution of Standby Equity Purchase Agreement and Promissory Note (Details) ₪ / shares in Units, ₪ in Thousands, $ in Thousands		6 Months Ended
	Dec. 11, 2023 ILS (₪)	Jun. 30, 2024 ILS (₪) shares	Jun. 30, 2024 USD ($) shares	Mar. 25, 2024 USD ($)	Dec. 11, 2023 USD ($)	Jun. 05, 2023 ₪ / shares	Jun. 05, 2023 USD ($) shares
Execution of Standby Equity Purchase Agreement and Promissory [Line Items]
Commitment amount | $							$ 10,000
Issuance costs (in New Shekels) | ₪	₪ 111
Total purchase price		₪ 10,724	$ 2,745
Practical exercise of commitment amount		6,812	1,719
Bottom of range [Member]
Execution of Standby Equity Purchase Agreement and Promissory [Line Items]
Commitment amount | $				$ 10,000
Top of Range [Member]
Execution of Standby Equity Purchase Agreement and Promissory [Line Items]
Commitment amount | $				$ 15,000
Promissory Note [Member]
Execution of Standby Equity Purchase Agreement and Promissory [Line Items]
Advance commitment amount		₪ 7,170	$ 2,000
Interest rate		8.00%	8.00%
Original issue discount rate		3.00%	3.00%
Repayment of principal and accrued interest		₪ 3,912	$ 1,026
Second Promissory Note [Member]
Execution of Standby Equity Purchase Agreement and Promissory [Line Items]
Interest rate	8.00%				8.00%
Original issue discount rate	3.00%				3.00%
Yorkville [Member]
Execution of Standby Equity Purchase Agreement and Promissory [Line Items]
Advance commitment amount	₪ 3,708				$ 1,000
Ordinary Shares [Member] | Promissory Note [Member]
Execution of Standby Equity Purchase Agreement and Promissory [Line Items]
Number of ordinary shares (in Shares) | shares							5
Par value (in New Shekels per share) | ₪ / shares						₪ 0.01
Ordinary Shares [Member] | SEPA [Member]
Execution of Standby Equity Purchase Agreement and Promissory [Line Items]
Number of ordinary shares (in Shares) | shares		17,375,000	17,375,000
Advance Shares [Member]
Execution of Standby Equity Purchase Agreement and Promissory [Line Items]
Number of ordinary shares (in Shares) | shares		3,475,000	3,475,000

Execution of Standby Equity Purchase Agreement and Promissory Note (Details) - Schedule of Reconciliation of the Carrying Amount of the Promissory Notes - ILS (₪) ₪ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Schedule of Reconciliation of the Carrying Amount of the Promissory Notes [Abstract]
Opening balance	₪ 7,139
Repayment of First Promissory Note and accrued interest through issuance of ADSs resulted from partial exercise of Commitment Amount under equity line	(3,721)
Recognition of discount, interest and exchange differences expenses	494	₪ 14	₪ 526
Income from exchange differences
Closing balance	₪ 3,912		₪ 7,139

Share Capital and Reserves (Details) - Schedule of Composition of Share Capital - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Schedule of Composition of Share Capital [Abstract]
Authorized	1,000,000,000	1,000,000,000
Issued and outstanding	99,739,786	69,579,231

Share Capital and Reserves (Details) - Schedule of Composition of Share Capital (Parentheticals) - ₪ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Schedule of Composition of Share Capital [Abstract]
Authorized	₪ 0.01	₪ 0.01
Issued and outstanding	₪ 0.01	₪ 0.01

Share Capital and Reserves (Details) - Schedule of Changes in the Issued and Outstanding Capital	6 Months Ended
	Jun. 30, 2024 shares
Schedule of Changes in the Issued and Outstanding Capital [Abstract]
Balance beginning	69,579,231
Issuance of Advance Shares resulted from partial exercise of Commitment Amount (see Note 3 above)	17,375,000
Issuance of shares as part of shelf prospectus through public offering transaction	12,555,555
Exercise of restricted share units into ordinary shares	180,000
Issuance of ordinary shares for service provider	50,000
Balance ending	99,739,786

Options Grant (Details)	6 Months Ended
	Jun. 30, 2024 ILS (₪) ₪ / shares
Options Grant [Line Items]
Options of exercisable shares	107,000
Exercise price	₪ 0.837
Grant estimated amount | ₪	₪ 89
Share Options [Member]
Options Grant [Line Items]
Par value per share	₪ 0.01
Ordinary Share [Member]
Options Grant [Line Items]
Options of exercisable shares	1

Loss Per Share (Details) - ₪ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Loss Per Share [Line Items]
Diluted loss per share	19,723,878	18,997,479
Ordinary Shares [Member] | Warrants [Member]
Loss Per Share [Line Items]
Par value per share	₪ 0.01	₪ 0.01

Loss Per Share (Details) - Schedule of Loss and Number of Shares Basic and Diluted - ILS (₪) ₪ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Schedule of Loss and Number of Shares Basic and Diluted [Abstract]
Loss attributed to the shareholders of the Company for purposes of computing the basic loss per share	₪ (16,284)	₪ (17,753)	₪ (33,835)
Weighted number of shares used in computing basic loss per share	79,171,297	27,839,012	31,380,359

Loss Per Share (Details) - Schedule of Loss and Number of Shares Basic and Diluted (Parentheticals) - ILS (₪) ₪ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Schedule of Loss and Number of Shares Basic and Diluted [Abstract]
Loss attributed to the shareholders of the Company for purposes of computing the diluted loss per share	₪ (16,284)	₪ (17,753)	₪ (33,835)
Weighted number of shares used in computing diluted loss per share	79,171,297	27,839,012	31,380,359

Subsequent Events (Details)						6 Months Ended
	Aug. 06, 2024 USD ($)	Jul. 26, 2024 USD ($)	Jul. 17, 2024 USD ($)	Jul. 16, 2024 USD ($)	Jun. 05, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 ₪ / shares shares
Subsequent Events [Line Items]
Commitment amount				$ 15,000,000
Principal amount	$ 1,000,000					$ 3,000,000
Discount rate of principal amount						3.00%
Description of conversion						The number of Conversion Shares issuable upon conversion of the Conversion Amount will be determined by dividing (x) such Conversion Amount by (y) the Conversion Price. The “Conversion Price” means, as of any conversion date or other date of determination and subject to adjustments set forth in the Promissory Notes, the lower of (i) $0.5284 per ADS, or (ii) 95% of the lowest daily VWAP during the 5 consecutive trading days immediately preceding the Conversion Date or other date of determination, but not lower than $0.0868 per ADS Share. The Conversion Price will be adjusted from time to time pursuant to the terms and conditions of the Promissory Notes.
Yorkville [Member]
Subsequent Events [Line Items]
Commitment amount					$ 10,000,000	$ 15,000,000
First Pre-Paid Advance [Member]
Subsequent Events [Line Items]
Principal amount			$ 1,000,000
Second Pre-Paid Advance [Member]
Subsequent Events [Line Items]
Principal amount		$ 1,000,000	$ 1,000,000
Third Pre-Paid Advance [Member]
Subsequent Events [Line Items]
Principal amount	$ 1,000,000
Ordinary Shares [Member] | New Standby Equity Purchase Agreement [Member]
Subsequent Events [Line Items]
Number of ordinary share (in Shares) | shares							5
Par value per share (in New Shekels per share) | ₪ / shares							₪ 0.01

---