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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Artemis Therapeutics Inc (PK) | USOTC:ATMS | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.498 | 0.181 | 0.50 | 0.00 | 01:00:00 |
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
DELAWARE
|
84-1417774
|
(State or other jurisdiction of
|
(I.R.S. Employer Identification No.)
|
incorporation or organization)
|
|
18 East 16th Street, Suite 307, New York, NY
|
10003
|
(Address of principal executive offices)
|
(Zip Code)
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common Stock, par value $0.01 per share
|
ATMS
|
OTCQB
|
Large accelerated filer ☐
|
Accelerated filer ☐
|
Non-accelerated filer ☒
|
Smaller reporting company ☒
|
Emerging growth company ☐
|
|
|
|
PAGE
|
|
|
|
3
|
||
|
|
|
3
|
||
|
|
|
|
4
|
|
|
|
|
|
5
|
|
|
|
|
|
6
|
|
|
|
|
|
8
|
|
|
|
|
|
9
|
|
|
|
|
20
|
||
|
|
|
23
|
||
|
|
|
24
|
||
|
|
|
24
|
||
|
|
|
25
|
|
PAGE
|
|
|
4
|
|
|
|
5
|
|
|
|
6-7
|
|
|
|
8
|
|
|
|
9-19
|
|
As of
September 30, |
As of
December 31,
|
||||||||||
|
Note
|
2019
(Unaudited)
|
2018
(Audited)
|
|||||||||
|
||||||||||||
ASSETS
|
||||||||||||
|
||||||||||||
Current assets
|
||||||||||||
Cash and cash equivalents
|
3
|
7
|
||||||||||
Other accounts receivable and prepaid expenses
|
17
|
20
|
||||||||||
Total current assets
|
20
|
27
|
||||||||||
|
||||||||||||
TOTAL ASSETS
|
20
|
27
|
||||||||||
|
||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
||||||||||||
|
||||||||||||
Current liabilities
|
||||||||||||
Accrued expenses and other payables
|
156
|
161
|
||||||||||
Derivative warrant liabilities
|
7B
|
|
-
|
163
|
||||||||
Total current liabilities
|
156
|
324
|
||||||||||
|
||||||||||||
Long term liabilities
|
||||||||||||
Related Parties
|
8
|
100
|
-
|
|||||||||
|
||||||||||||
Total Liabilities
|
256
|
324
|
||||||||||
|
||||||||||||
Shareholders’ equity
|
||||||||||||
Series A Convertible Preferred stock, $0.01 par value - Authorized: 10,000,000 shares; issued and outstanding: 453 shares as of September 30, 2019 and December 31, 2018
|
(*
|
)
|
(*
|
)
|
||||||||
Series C Convertible Preferred stock, $0.01 par value - Authorized: 250 shares; issued and outstanding: 250 shares as of September 30, 2019 and December 31, 2018
|
(*
|
)
|
(*
|
)
|
||||||||
Common stock, $0.01 par value - authorized: 51,000,000; issued and outstanding: 5,153,461 as of September 30, 2019 and December 31, 2018
|
52
|
52
|
||||||||||
Additional paid in capital
|
7
|
1,902
|
1,571
|
|||||||||
Accumulated deficit
|
(2,190
|
)
|
(1,920
|
)
|
||||||||
Total stockholders’ equity
|
(236
|
)
|
(297
|
)
|
||||||||
|
||||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
|
20
|
27
|
|
Nine Months Ended
September 30, |
Three Months Ended
September 30,
|
||||||||||||||||||
|
2019
|
2018
|
2019
|
2018
|
||||||||||||||||
|
Note
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||||||
|
||||||||||||||||||||
Research and development expenses
|
-
|
189
|
-
|
60
|
||||||||||||||||
|
||||||||||||||||||||
General and administrative
|
112
|
526
|
22
|
143
|
||||||||||||||||
|
||||||||||||||||||||
Operating loss
|
112
|
715
|
22
|
203
|
||||||||||||||||
Finance (expense) income
|
(2
|
)
|
255
|
(2
|
)
|
95
|
||||||||||||||
Net loss
|
(114
|
)
|
(460
|
)
|
(24
|
)
|
(108
|
)
|
||||||||||||
|
||||||||||||||||||||
Net loss per share, basic and diluted
|
6
|
(0.02
|
)
|
(0.08
|
)
|
(0.00
|
)
|
(0.02
|
)
|
|||||||||||
|
||||||||||||||||||||
Weighted average number of common stock used in calculation of net loss per share:
|
||||||||||||||||||||
Basic and diluted
|
5,153,461
|
5,153,461
|
5,153,461
|
5,153,461
|
Common Stock
|
Preferred Stock A
|
Preferred Stock C
|
Total | |||||||||||||||||||||||||||||||||
|
Number
|
USD
|
Number
|
Amount
|
Number
|
Amount
|
Additional
paid-in Capital
|
Accumulated deficiency
|
stockholders’
Equity
|
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Balance as of June 30, 2019
|
5,153,461
|
52
|
453
|
(*
|
)
|
250
|
(*
|
)
|
1,898
|
(2,166
|
)
|
(216
|
)
|
|||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Share based compensation
|
-
|
-
|
-
|
-
|
-
|
-
|
4
|
4
|
||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(24
|
)
|
(24
|
)
|
|||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Balance as of September 30, 2019
|
5,153,461
|
52
|
453
|
(*
|
)
|
250
|
(*
|
)
|
1,902
|
(2,190
|
)
|
(236
|
)
|
Common Stock
|
Preferred Stock A
|
Preferred Stock C
|
Total | |||||||||||||||||||||||||||||||||
|
Number
|
USD
|
Number
|
Amount
|
Number
|
Amount
|
Additional
paid-in Capital
|
Accumulated deficiency
|
stockholders’
Equity
|
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Balance as of June 30, 2018
|
5,153,461
|
52
|
453
|
(*
|
)
|
250
|
(*
|
)
|
1,570
|
(1,759
|
)
|
(137
|
)
|
|||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Share based compensation
|
-
|
-
|
-
|
-
|
-
|
-
|
(4
|
)
|
-
|
(4
|
)
|
|||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(108
|
)
|
(108
|
)
|
|||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Balance as of September 30, 2018
|
5,153,461
|
52
|
453
|
(*
|
)
|
250
|
(*
|
)
|
1,566
|
(1,867
|
)
|
(249
|
)
|
Common Stock
|
Preferred Stock A
|
Preferred Stock C
|
Total | |||||||||||||||||||||||||||||||||
|
Number
|
USD
|
Number
|
Amount
|
Number
|
Amount
|
Additional
paid-in Capital
|
Accumulated deficiency
|
stockholders’
Equity
|
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2018
|
5,153,461
|
52
|
453
|
(*
|
)
|
250
|
(*
|
)
|
1,571
|
(1,920
|
)
|
(297
|
)
|
|||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Adoption of new accounting Standards
|
-
|
-
|
-
|
-
|
-
|
-
|
319
|
(156
|
)
|
163
|
||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Share based compensation
|
-
|
-
|
-
|
-
|
-
|
-
|
12
|
-
|
12
|
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(114
|
)
|
(114
|
)
|
|||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Balance as of September 30, 2019
|
5,153,461
|
52
|
453
|
(*
|
)
|
250
|
(*
|
)
|
1,902
|
(2,190
|
)
|
(236
|
)
|
Common Stock
|
Preferred Stock A
|
Preferred Stock C
|
Total | |||||||||||||||||||||||||||||||||
|
Number
|
USD
|
Number
|
Amount
|
Number
|
Amount
|
Additional
paid-in Capital
|
Accumulated deficiency
|
stockholders’
Equity
|
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2017
|
5,153,461
|
52
|
453
|
(*
|
)
|
250
|
(*
|
)
|
1,457
|
(1,407
|
)
|
102
|
||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Share based compensation
|
-
|
-
|
-
|
-
|
-
|
-
|
109
|
-
|
109
|
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(460
|
)
|
(460
|
)
|
|||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Balance as of September 30, 2018
|
5,153,461
|
52
|
453
|
(*
|
)
|
250
|
(*
|
)
|
1,566
|
(1,867
|
)
|
(249
|
)
|
|
Nine Months Ended
September 30, |
|||||||
|
2019
|
2018
|
||||||
|
||||||||
Net cash used in operating activities
|
||||||||
Net loss
|
114
|
460
|
||||||
|
||||||||
Share based compensation expenses
|
12
|
109
|
||||||
Decrease in other accounts receivable and prepaid expenses
|
3
|
32
|
||||||
Decrease (increase) in accrued expenses and other payables
|
(5
|
)
|
91
|
|||||
Change in the fair value of derivative warrant liability
|
-
|
(259
|
)
|
|||||
|
||||||||
Net cash used in operating activities
|
(104
|
)
|
(487
|
)
|
||||
|
||||||||
Cash flows from financing activities
|
||||||||
Related party loan
|
100
|
-
|
||||||
|
||||||||
Cash flows from financing activities
|
100
|
-
|
||||||
|
||||||||
Decrease in cash and cash equivalents
|
(4
|
)
|
(487
|
)
|
||||
Cash and cash equivalents at the beginning of the period
|
7
|
525
|
||||||
|
||||||||
Cash and cash equivalents at the end of the period
|
3
|
38
|
|
A. |
Description of Business
|
|
B. |
Establishment of Artemis (the “accounting acquirer”):
|
|
C. |
Going Concern:
|
|
A. |
Unaudited Interim Financial Statements
|
|
B. |
Use of estimates in the preparation of financial statements:
|
|
C. |
Cash and cash equivalents
|
|
D. |
Fair value of financial instruments
|
|
E. |
Basic and diluted net loss per share
|
|
F. |
Research and development expenses, net
|
|
G. |
Income Tax
|
|
H. |
Share-based compensation
|
|
I. |
Recent Accounting Standards
|
|
I. |
Recent Accounting Standards (Cont.)
|
|
As of
January 1, 2019
|
Adjustment
|
As of
December 31,
2018
|
|||||||||
|
||||||||||||
Derivative warrant liability
|
-
|
(163
|
)
|
163
|
||||||||
Additional paid-in capital
|
1,890
|
319
|
1,571
|
|||||||||
Accumulated deficit
|
(2,076
|
)
|
(156
|
)
|
(1,920
|
)
|
|
A. |
Tax rates applicable to the income
|
|
B. |
Deferred income taxes
|
|
As of
September 30,
2019
|
As of
December 31,
2018
|
||||||
|
||||||||
Deferred tax assets:
|
||||||||
Deferred taxes due to carryforward losses
|
2,877
|
2,864
|
||||||
|
||||||||
Valuation allowance
|
(2,877
|
)
|
(2,864
|
)
|
||||
|
||||||||
Net deferred tax asset
|
-
|
-
|
|
C. |
Tax loss carry-forwards
|
|
As of
September 30,
2019
|
As of
December 31,
2018
|
||||||
Israel
|
4,848
|
4,799
|
||||||
United States (*)
|
8,388
|
8,385
|
||||||
|
||||||||
|
13,236
|
13,184
|
Issuance
date |
Number of warrants
outstanding as
September 30, 2019
|
Exercise
price |
Exercisable
through |
||||||
|
|
||||||||
October 2017
|
275,000
|
$
|
2.00
|
October 2022
|
|
A. |
Stockholders Rights:
|
|
B. |
Issuance of Shares
|
|
B. |
Issuance of Shares (Cont.)
|
|
C. |
Reverse Stock Split
|
|
D. |
Options issued to employees and consultants
|
|
D. |
Options issued to employees and consultants (Cont.)
|
|
For the Nine months ended
September 30, 2019
|
|||||||||||
|
Number of stock options
|
Weighted average exercise price
|
Aggregate intrinsic value
|
|||||||||
|
||||||||||||
Outstanding at beginning of period
|
250,716
|
0.83
|
54,002
|
|||||||||
Granted
|
-
|
-
|
-
|
|||||||||
Exercised
|
-
|
-
|
-
|
|||||||||
Cancelled
|
109,188
|
1.30
|
-
|
|||||||||
|
||||||||||||
Outstanding at end of period
|
141,528
|
0.47
|
15,102
|
|||||||||
Options exercisable at period end
|
112,361
|
0.19
|
15,102
|
|||||||||
|
||||||||||||
|
For the twelve months ended
December 31, 2018
|
|||||||||||
|
Number of stock options
|
Weighted average exercise price
|
Aggregate intrinsic value
|
|||||||||
|
||||||||||||
Outstanding at beginning of period
|
334,168
|
0.95
|
||||||||||
Granted
|
98,528
|
1.30
|
||||||||||
Exercised
|
-
|
-
|
||||||||||
Cancelled
|
181,980
|
1.30
|
||||||||||
|
||||||||||||
Outstanding at end of period
|
250,716
|
0.83
|
54,002
|
|||||||||
Options exercisable at period end
|
212,174
|
0.74
|
54,002
|
|
D. |
Options issued to employees and consultants (Cont.)
|
Exercise price
|
|
|
Stock options outstanding as of September 30,
|
|
|
Stock options outstanding as of December 31,
|
|
|
Weighted average remaining contractual life – years as of September 30,
|
|
|
Weighted average remaining contractual life – years as of December 31,
|
|
|
Stock options exercisable as of September 30,
|
|
|
Stock options exercisable as of December 31,
|
|
|||||||
$
|
|
|
2019
|
|
|
2018
|
|
|
2019
|
|
|
2018
|
|
|
2019
|
|
|
2018
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
0.01
|
|
|
|
91,528
|
|
|
|
91,528
|
|
|
|
6.90
|
|
|
|
7.64
|
|
|
|
91,528
|
|
|
|
91,528
|
|
|
1.30
|
|
|
|
-
|
|
|
|
60,660
|
|
|
|
|
|
|
8.61
|
|
|
|
-
|
|
|
|
60,660
|
|
|
|
1.30
|
|
|
|
50,000
|
|
|
|
98,528
|
|
|
|
8.46
|
|
|
|
9.21
|
|
|
|
20,833
|
|
|
|
59,986
|
|
|
0.83
|
|
|
|
141,528
|
|
|
|
250,716
|
|
|
|
7.42
|
|
|
|
8.46
|
|
|
|
112,361
|
|
|
|
212,174
|
|
EXHIBIT
NUMBER
|
|
DESCRIPTION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
101.1
|
|
The following materials from the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2019 formatted in XBRL (eXtensible Business Reporting Language): (i) the Interim Condensed Consolidated Balance Sheets, (ii) the Interim Condensed Consolidated Statements of Comprehensive Loss, (iii) the Condensed
Consolidated Statements of Shareholders Equity, (iv) the Interim Condensed Consolidated Statements of Cash Flows and (v) related notes to these financial statements, tagged as blocks of text
and in detail.*
|
|
ARTEMIS THERAPEUTICS, INC.
|
|
|
|
|
|
|
Dated: November 14, 2019
|
By:
|
/s/ Chanan Morris
|
|
|
|
Chanan Morris
|
|
|
|
Chief Financial Officer
|
|
|
|
(Principal Executive Officer and Principal Financial and Accounting Officer)
|
1 Year Artemis Therapeutics (PK) Chart |
1 Month Artemis Therapeutics (PK) Chart |
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