Company: SATT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002119
Chunk: 379

Company: SATIVUS TECH CORP.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 379
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2019-12 is effective for fiscal years beginning after December
15, 2021 and interim periods within annual periods beginning after December 15, 2022, though early adoption is permitted, including adoption
in any interim period for which financial statements have not yet been issued. The Company has evaluated the impact of adopting this standard
and concluded there is no impact on the Company’s consolidated financial statements.

    r.
    New Accounting Pronouncements:

Accounting Pronouncements Not Yet
Adopted

In December 2023, the FASB issued ASU
2023-09, Income taxes (topic 740): Improvements to Income Tax Disclosures. The guides require disclosure of a tabular reconciliation,
using both percentages and reporting currency amounts. Additional disclosers are required such as income taxes paid, Income (or loss)
from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign and Income tax expense (or
benefit) from continuing operations disaggregated by federal (national), state, and foreign. The guidance will be effective for the Company
for fiscal years beginning after December 15, 2024. Early adoption is permitted. Adoption of the new standard will not have a material
impact on the financial statements.

In August 2020, the FASB issued ASU
No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging Contracts in Entity s Own Equity
(Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity s Own Equity. ASU 2020-06 will simplify the accounting
for convertible instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock.
Limiting the accounting models results in fewer embedded conversion features being separately recognized from the host contract as compared
with current GAAP. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features
that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a
scope exception from derivative accounting and(2) convertible debt instruments issued with substantial premiums for which the premiums
are recorded as paid-in capital. ASU 2020-06 also amends the guidance for the derivatives scope exception for contracts in an entity’s
own equity to reduce form-over-substance-based accounting conclusions. ASU 2020-06 will be effective for