Company: SATT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002119
Chunk: 412

Company: SATIVUS TECH CORP.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 412
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32.5 million (approximately $10 million) through the Israeli crowdfunding platform – Pipelbiz (“2022 Crowd Funding Round”).
Assuming the maximum amount is raised, the Company will own approximately 61% of the Saffron Tech. The 2022 Crowd Funding Round was closed
on December 1, 2022, having raised 3.8 million NIS (approximately $1.3 million). Fund raising expenses accumulated to $152 and the net
amount raised through Pipelbiz was $1.15 million. Saffron Tech also raised 1.15 million NIS (approximately $328 thousand) through the
issuance of SAFEs. The SAFEs are convertible at a 20% discount to the current crowd funding round. Sativus Tech’s interest in Saffron
Tech now totals 67.5% post-raise. All SAFEs were converted before December 31, 2024. Saffron Tech continued to raise funds through Pipelbiz
under the same pre-money valuation during December 2022 through to January 2023, via another crowd funding round “2023 Crowd Funding
Round” which closed on February 5, 2023, having raised another 1.1 million NIS (approximately $314 thousand).

On March 1, 2023, Saffron Tech entered into an
investment agreement with Korean-based company, Dreamtech Co Ltd (“Dreamtech”), a leading provider and manufacturer
of tech components for innovative products including advanced mobile and medical devices. Under this new agreement, Dreamtech will fund
an initial investment of $1 million followed by an additional $1 million upon a successful cultivation of saffron in Korea. Saffron Tech
aims to be the first company to create a large-scale production of saffron using vertical farming technology to meet the growing demand
of the spice for use in beauty, wellness, and pharmaceutical applications. Dreamtech and Saffron Tech started a mutual POC in Korea. The
POC results expected to be amounted in Q1/24. The Company’s interest in Saffron Tech now totals 54% post-raise.

On 28th October 2024, Tal Wil-Glazer
resigned from her position as the CEO and a director of the Company. On the same day, the company announced the appointment of Shmulik
Yanai as the CEO of the Company.

Results of Operations during the year ended
December 31