Company: SATT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002119
Chunk: 338

Company: SATIVUS TECH CORP.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 338
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 shall pay 5% of up to 100% of the amount of grants received plus interest at LIBOR. Saffron Tech was entitled to the grants only upon incurring research and development expenditures. There were no future performance obligations related to the grants received from the IIA. As of December 31, 2024, the contingent liabilities with respect to grants received from the IIA, subject to repayment under these royalty agreements on future sales is $Nil. As of December 31, 2024, Saffron Tech received a total of $452 from the IIA 

    c.
    The Company's holdings in Saffron Tech are secured to a third party until such time that the third-party convertible loans have been extinguished.

    NOTE 9:-
    SUBSEQUENT EVENTS

In accordance with ASC 855-10, the
Company reviewed all material events through the date of this report and determined that there are no additional material subsequent events
to report..

 F-28 

Item 9. Changes in and Disagreements with Accountants on Accounting
and Financial Disclosure.

None.

Item 9A. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

In connection with the preparation of our Annual
Report on Form 10-K, an evaluation was carried out by management, with the participation of our Chief Executive Officer (“CEO”)
and Chief Financial Officer (“CFO”), of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e)
and 15d-15(e) under the Securities Exchange Act of 1934 (Exchange Act) as of December 31, 2024. Disclosure controls and procedures are
designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed,
summarized and reported within the time periods specified, and that such information is accumulated and communicated to management, including
the Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

During evaluation of disclosure controls and procedures
as of December 31, 2024, conducted as part of our annual audit and preparation of our annual financial statements, management conducted
an evaluation of the effectiveness of the design and operations of our disclosure controls and procedures and concluded that our disclosure
controls and procedures were not effective.

Management’s Report on Internal Control
over Financial Reporting

Management is responsible for the preparation
and fair presentation of the financial statements included in this annual report. The financial statements have