Dror Ortho-Design, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Dror Ortho-Design, Inc. has filed its 2023 Form 10-K, detailing its operations and financial status as a smaller reporting company.</b>

AI Summary

Dror Ortho-Design, Inc. (DROR) filed a Annual Report (10-K) with the SEC on April 1, 2024. Dror Ortho-Design, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Delaware and has its principal executive office in Jerusalem, Israel. Dror Ortho-Design, Inc. was formerly known as Novint Technologies, Inc., with a name change effective March 8, 2004. The company is classified as a smaller reporting company and a non-accelerated filer. No securities of the company are registered on any national exchange.

Why It Matters

For investors and stakeholders tracking Dror Ortho-Design, Inc., this filing contains several important signals. This filing provides a comprehensive overview of the company's performance and structure for the fiscal year 2023, which is crucial for investors to assess its current standing. As a smaller reporting company, this 10-K offers insights into a potentially less scrutinized entity, making its disclosures particularly important for understanding its specific market position and risks.

Risk Assessment

Risk Level: low — Dror Ortho-Design, Inc. shows low risk based on this filing. The company has no securities registered on any exchange, indicating limited public market activity and potentially lower liquidity for investors.

Analyst Insight

Investors should review the full 10-K filing for detailed financial statements, risk factors, and management discussion to understand the company's operational performance and future outlook.

Key Numbers

• 2023 — Fiscal Year End (The period covered by the annual report.)
• December 31 — Fiscal Year End Date (The specific end date of the fiscal year.)
• 000-51783 — Commission File Number (SEC file number for the registrant.)
• 85-0461778 — IRS Employer Identification Number (Tax identification number.)

Key Players & Entities

• Dror Ortho-Design, Inc. (company) — Company name
• Novint Technologies, Inc. (company) — Former company name
• 2023 (date) — Fiscal year end
• December 31 (date) — Fiscal year end
• Delaware (jurisdiction) — State of incorporation
• Jerusalem, Israel (location) — Principal executive office
• Washington, PA (location) — Business address
• 724-206-1500 (phone) — Business phone

FAQ

Industry Context

The company operates in the Dental Equipment & Supplies industry (SIC 3843).

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring annual reporting for public companies.

What Investors Should Do

1. Review the full 10-K for detailed financial statements and management discussion.
2. Analyze the company's risk factors section for potential investment concerns.
3. Compare Dror Ortho-Design's disclosures with industry peers if possible.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-01: Filing Date — Date the 10-K was filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing analyzed for Dror Ortho-Design, Inc. under its current name, with no prior filings available for direct comparison in this dataset.

Key Financial Figures

• $0.0001 — (b) of the Act: Common Stock, par value $0.0001 per share Indicate by check mark if t
• $0.0249 — hich the common equity was last sold of $0.0249 was $ 4,310,365 . The number of share
• $2.5 million — Company intends to spend approximately $2.5 million over the next 18 months on software and

Filing Documents

• ea0202789-10k_drorortho.htm (10-K) — 1135KB
• ea020278901ex4-2_dror.htm (EX-4.2) — 34KB
• ea020278901ex10-15_dror.htm (EX-10.15) — 11KB
• ea020278901ex10-16_dror.htm (EX-10.16) — 39KB
• ea020278901ex31-1_dror.htm (EX-31.1) — 9KB
• ea020278901ex32-1_dror.htm (EX-32.1) — 4KB
• image_001.jpg (GRAPHIC) — 13KB
• image_002.jpg (GRAPHIC) — 12KB
• image_003.jpg (GRAPHIC) — 27KB
• image_004.jpg (GRAPHIC) — 12KB
• image_005.jpg (GRAPHIC) — 15KB
• image_006.jpg (GRAPHIC) — 32KB
• image_007.jpg (GRAPHIC) — 7KB
• 0001213900-24-028793.txt (&nbsp;) — 5330KB
• dror-20231231.xsd (EX-101.SCH) — 59KB
• dror-20231231_cal.xml (EX-101.CAL) — 27KB
• dror-20231231_def.xml (EX-101.DEF) — 228KB
• dror-20231231_lab.xml (EX-101.LAB) — 415KB
• dror-20231231_pre.xml (EX-101.PRE) — 220KB
• ea0202789-10k_drorortho_htm.xml (XML) — 424KB

Business

Business 1 ITEM 1A.

Risk Factors

Risk Factors 14 ITEM 1B. Unresolved Staff Comments 41 ITEM 1C. Cybersecurity 41 ITEM 2.

Properties

Properties 42 ITEM 3.

Legal Proceedings

Legal Proceedings 42 ITEM 4. Mine Safety Disclosures 42 PART II ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 43 ITEM 6. [Reserved] 44 ITEM 7.

Management's Discussion and Analysis of Financial Condition and Results of Operation

Management's Discussion and Analysis of Financial Condition and Results of Operation 45 ITEM 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 50 ITEM 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 50 ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 50 ITEM 9A.

Controls and Procedures

Controls and Procedures 50 ITEM 9B. Other Information 51 ITEM 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 51 PART III ITEM 10. Directors, Executive Officers and Corporate Governance 52 ITEM 11.

Executive Compensation

Executive Compensation 54 ITEM 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 59 ITEM 13. Certain Relationships and Related Transactions, and Director Independence 61 ITEM 14. Principal Accountant Fees and Services 61 PART IV ITEM 15. Exhibits and Financial Statement Schedules 62 ITEM 16. Form 10-K Summary 62

SIGNATURES

SIGNATURES 65 i Cautionary Note Regarding Forward-Looking Statements in this Annual Report on Form 10-K (this "Annual Report") of Dror Ortho-Design, Inc. (f/k/a Novint Technologies, Inc.) ("we," "us," "Dror," or the "Company") and other written reports made from time to time by us that are not historical facts, including statements regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans, objectives of management and expected market growth, constitute so-called "forward-looking such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would," and other words of similar meaning, although not all forward-looking statements contain these identifying words. Forward-looking statements are likely to address our estimates of our expenses, ongoing losses, future revenue, capital requirements and our needs for or ability to obtain additional financing our ability to retain and recruit key personnel our financial performance our ability to become profitable and generate consistent cash flows to remain profitable our ability to fund our working capital requirements developments and projections relating to our competitors or our industry; and our Platform (as defined below) and any other products, among other things. You should carefully consider any such statement and should understand that many factors could cause actual results to differ from our forward-looking statements. Such risks and uncertainties include but are not limited to the following: our operations and financial performance depend on global and regional economic conditions. Inflation, fluctuations in currency exchange rates, changes in consumer confidence and demand, and weakness in general economic condition

forward-looking statements

forward-looking statements. These forward-looking statements are based on information available as of the date of this Annual Report and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. iii Risk Factors Summary Our business is subject to numerous risks and uncertainties, including those highlighted in the section entitled "Risk Factors" immediately following this prospectus summary, that represent challenges that we face in connection with the successful implementation of our strategy and the growth of our business. In particular, the following considerations, among others, may offset our competitive strengths or have a negative effect on our business strategy, which could cause a decline in the price of shares of our Common Stock or warrants and result in a loss of all or a portion of your investment: Our financial statements have been prepared on a going concern basis; we must raise additional capital to fund our operations in order to continue as a going concern. We conduct our operations in Israel. Conditions in Israel, including the recent attack by Hamas and other terrorist organizations from the Gaza Strip and Israel's war against them, may affect our operations. Our operations and financial performance depend on global and regional economic conditions. Inflation, fluctuations in currency exchange rates, changes in consumer confidence and demand, and weakness in general economic conditions and threats, or actual recessions, could materially affect our business, results of operations, and financial conditio

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View this 10-K filing on SEC EDGAR