Sativus Tech Corp. Files Q1 2024 10-Q

TL;DR

Sativus Tech Corp. dropped its Q1 2024 10-Q, showing financial details for the first three months of the year.

AI Summary

Sativus Tech Corp. filed its 10-Q for the period ending March 31, 2024. The company, formerly known as SEEDO CORP. and GRCR Partners Inc., is in the management consulting services industry. The filing details financial information for the first quarter of 2024, including balance sheet items like common stock, additional paid-in capital, and retained earnings.

Why It Matters

This filing provides investors with a quarterly update on Sativus Tech Corp.'s financial health and performance, crucial for understanding its current operational status.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information, not indicating any immediate or significant new risks.

Key Numbers

• 20240331 — Report Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 20240520 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2024-01-01 — Quarter Start Date (Beginning of the reporting period for Q1 2024.)

Key Players & Entities

• SATIVUS TECH CORP. (company) — Filer of the 10-Q
• SEEDO CORP. (company) — Former name of Sativus Tech Corp.
• GRCR Partners Inc (company) — Former name of Sativus Tech Corp.
• 8742 (dollar_amount) — Standard Industrial Classification code for Management Consulting Services

FAQ

Key Financial Figures

• $0.001 — d 4,215,571 shares of its Common Stock, $0.001 par value, outstanding. When used in t
• $20.00 — nt by (y) the fixed conversion price of $20.00 or (z) 80% of the lowest the volume-wei
• $12.50 — Company's ordinary shares is less than $12.50 and (ii) there is no equity condition f
• $1.02 — etion, at the lower of a fixed price of $1.02 (the "Fixed Conversion Price") or 80% o
• $2.00 — of the Company at an exercise price of $2.00 per share, such exercise price is subje
• $249 — gust 7, 2020, and the Company allocated $249 to the BCF as a liability. As of March
• $129 — uly 31, 2020, and the Company allocated $129 to the BCF as a liability. As of March

Filing Documents

• sativus_i10q-033124.htm (10-Q) — 589KB
• sativus_ex3101.htm (EX-31.1) — 11KB
• sativus_ex3102.htm (EX-31.2) — 11KB
• sativus_ex3201.htm (EX-32.1) — 5KB
• sativus_ex3202.htm (EX-32.2) — 5KB
• 0001683168-24-003690.txt ( ) — 3586KB
• satt-20240331.xsd (EX-101.SCH) — 28KB
• satt-20240331_cal.xml (EX-101.CAL) — 34KB
• satt-20240331_def.xml (EX-101.DEF) — 99KB
• satt-20240331_lab.xml (EX-101.LAB) — 234KB
• satt-20240331_pre.xml (EX-101.PRE) — 211KB
• sativus_i10q-033124_htm.xml (XML) — 565KB

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 3 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 7 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 7 PART II OTHER INFORMATION 8 ITEM 5. OTHER INFORMATION 8 ITEM 6. EXHIBITS 8

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial

Item 1. Condensed Consolidated Financial SATIVUS TECH CORP. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2024 1 SATIVUS TECH CORP. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2024 IN THOUSANDS OF U.S. DOLLARS INDEX Page Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 F-2 Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended March 31, 2024 (unaudited) and 2023 F-3 Condensed Consolidated Statements of Changes in Shareholders' Deficit for the Three Months Ended March 31, 2024(unaudited) and 2023 (unaudited) F-4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 (unaudited) and 2023 (unaudited) F-5 Notes to Unaudited Consolidated Financial Statements F-6 – F-18 F-1 SATIVUS TECH CORP. CONDENSED CONSOLIDATED BALANCE SHEETS U.S. dollars in thousands, except share and per share data March 31, December 31, 2024 2023 (Unaudited) (Audited) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 141 $ 176 Deposits 438 637 Restricted cash 11 11 Other current assets 290 313 Total current assets 880 1,137 NON-CURRENT ASSETS Right-of-use asset 11 15 Property and equipment, net 358 256 Total non-current assets 369 271 Total assets $ 1,249 $ 1,408 LIABILITIES AND SHAREHOLDERS' DEFICIT CURRENT LIABILITIES Accounts payables $ 90 $ 46 Other current liabilities 129 112 Convertible loans 2,116 2,074 Fair value of convertible component in convertible loans 633 885 Short term lease liability 6 13 Total Liabilities 2,974 3,130 SHAREHOLDER'S DEFICIT Ordinary shares of $ 0.0001 par value Authorized: 500,000,000 shares at March 31, 2024 and December 31, 2023; Issued and Outstanding: 4,215,571 and 4,215,571 shares at March 31, 2024 and December 31, 2023, respectively 4 4 Additional Paid in capital 20,646 20,640 Accu

View Full Filing

View this 10-Q filing on SEC EDGAR