Company: RGNT
Filing Date: 2025-01-27
Form Type: DRS/A
Source: 0001213900-25-006676
Chunk: 266

Company: REGENTIS BIOMATERIALS LTD.
Filing Date: 2025-01-27
Form: DRS/A
Chunk 266
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ger (the “Merger Agreement”) pursuant to which, among other things, Merger Sub will merge
with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly owned subsidiary of OceanTech.
In May 2024, due to OceanTech not meeting certain Nasdaq compliance requirements, the Company and OceanTech couldn’t proceed with
the Merger and as a result the Merger Agreement was cancelled.

| c. | Going concern and management plans |

The accompanying financial statements
have been prepared on a going-concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal
course of business. Since its inception, the Company has devoted substantially all of its efforts to research and development, clinical
trials, and raising capital. The Company is still in its development and clinical stage and has not yet generated revenues. The extent
of the Company’s future operating losses and the timing of becoming profitable are uncertain. The Company has incurred losses of
$4,132 for the year ended December 31, 2023. As of December 31, 2023, the Company’s accumulated deficit was $46,947. The Company
has funded its operations to date primarily through equity financing, loans and the issuance of convertible notes. Management expects
that the Company will continue to generate losses from the development, clinical trials, regulatory activities of its product and from
the general administration of its business, which will result in negative cash flow from operating activity.

<div align='center'>F-22</div>

REGENTIS BIOMATERIALS LTD.

NOTES TO FINANCIAL STATEMENTS

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

| NOTE 1:- | GENERAL (Cont.) |

Additional funding will be required to
complete the Company’s research and development and clinical trials, to attain regulatory approvals, to begin the commercialization
efforts of the Company’s product and to achieve a level of sales adequate to support the Company’s cost structure.

While the Company has been successful
in raising financing in the past, it is not probable that the Company will be able to successfully obtain additional financing on a timely
basis on terms acceptable to the Company, or will provide the Company with sufficient funds to meet its objective.

Such conditions and other raise substantial
doubts about the Company’s ability to continue as a going concern. Management’s plans include, but are not limited to initial
public offering (the “IPO”) in the