Company: SATT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002119
Chunk: 27

Company: SATIVUS TECH CORP.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 27
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 (NIS),
however the selling prices will be linked to the Company’s price list which will be determined in dollars, the budget is managed
in dollars, financing activities including loans and cash investments, are made in U.S. dollars and the Company’s management believes
that the dollar is the primary currency of the economic environment in which the Company and its subsidiary operates. Thus, the dollar
is the Company’s and its subsidiary functional and reporting currency.

Accordingly, transactions denominated
in currencies other than the functional currency are re-measured to the functional currency in accordance with Accounting Standards Codification
(“ASC”) No. 830, “Foreign Currency Matters” at the exchange rate at the date of the transaction or the average
exchange rate in the relevant reporting period. At the end of each reporting period, financial assets and liabilities are re-measured
to the functional currency using exchange rates in effect at the balance sheet date. Non-financial assets and liabilities are re-measured
at historical exchange rates. Gains and losses related to re-measurement are recorded as financial income (expense) in the consolidated
statements of operations as appropriate.

    c.
    Principles of consolidation:

The consolidated financial statements
include the financial statements of the Company and its subsidiaries. Intercompany transactions and balances have been eliminated upon
consolidation.

     F-9 

SATIVUS TECH CORP.

NOTES TO FINANCIAL STATEMENTS

U.S. dollars in thousands, except per share data

    NOTE 2:-
    SIGNIFICANT ACCOUNTING POLICIES (Cont.)

    d.
    Cash and cash equivalents:

Cash equivalents are short-term highly
liquid investments that are readily convertible to cash with original maturities of three months or less, at the date acquired.

Restricted cash as of December 31, 2024
in respect of the Company’s credit card and manufacturing commitments.

    e.
    Property and equipment:

Property and equipment are stated at
cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the
assets, at the following annual rates:

    Schedule
    of property and equipment useful live rates

    %

    Computers, Software and peripheral equipment

    33%

    Mold & production Equipment

    10%

    Office furniture and equipment

    10%

    f.
    Impairment of long-lived assets:

The Company’s long-lived assets
are reviewed for impairment in accordance with ASC No. 360