Company: SATT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002119
Chunk: 413

Company: SATIVUS TECH CORP.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 413
---
, 2024, as compared to the year ended December 31, 2023

Operating Expenses

Research and Development Expenses for the year
ended December 31, 2024, amounted to $687 thousand as compared to $253 for the year ended December 31, 2023. The reason for the increase
is a smaller grant from IIA during 2024 compare to 2023.

 8 

General and Administrative expenses for the year
ended December 31, 2024, amounted to $271 thousand as compared to $562 thousand for the year ended December 31, 2023. The decrease during
the year ended December 31, 2024, was mainly due the decrease in share-based expenses that amounted to $19 thousand, compared to $156
thousand for the year ended December 31, 2023.

Financing Expenses for the year ended December
31, 2024, amounted to $65 thousand as compared financing income to $228 thousand for the year ended December 31, 2023. Financial expenses
and income are due mainly to financial gains or losses related to revaluations of convertible component in convertible loans.

Results of Operations during the year ended
December 31, 2023, as compared to the year ended December 31, 2022

Operating Expenses

Research and Development Expenses for the year
ended December 31, 2023, amounted to $253 thousand as compared to $673 for the year ended December 31, 2022. During 2023, Saffron Tech
reduced its research and development expenses in Israel due to financial constraints.

General and Administrative expenses for the year
ended December 31, 2023, amounted to $562 thousand as compared to $660 thousand for the year ended December 31, 2022. The decrease during
the year ended December 31, 2023, was mainly due the decrease in share-based expenses that amounted to $156 thousand, compared to $267
thousand for the year ended December 31, 2022.

Financing income for the year ended December 31,
2023, amounted to $228 thousand as compared financing expenses to $480 thousand for the year ended December 31, 2022. Financial expenses
and income are due mainly to financial gains or losses related to revaluations of convertible component in convertible loans.

Liquidity and Capital Resources

Overview

Since inception on January 16, 2015