Company: RVRC
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-013823
Chunk: 146

Company: Revium Rx.
Filing Date: 2025-02-14
Form: S-1
Chunk 146
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 current accounting for lessors and does not make significant changes to the recognition, measurement,
and presentation of expenses and cash flows by a lessee.

Effective January
1, 2022, the Company adopted the new lease accounting standard. The Company elected to apply the practical expedients permitted under
the transition guidance within the new standard. As such, there was no impact on the Company's financial statements as a result of adopting
ASU 2016-02.

<div align='center'>F-40</div>

REVIUM RX.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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

NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES (Cont.)

| t. | Disclosure of new accounting standards |

In June 2016,
the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASAU) No. 2016-13, Financial Instruments – Credit
Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the existing incurred loss impairment model
with an expected credit loss model and requires a financial asset measured at amortized cost to be presented at the net amount expected
to be collected. The guidance was effective for the Company beginning January 1, 2023, and interim periods therein. The implementation
of ASU 2016-13 didn’t have material effect on its consolidated financial statements and related disclosures.

In
December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which
simplifies the accounting for income taxes by removing a variety of exceptions within the framework of ASC 740. These exceptions
include the exception to the incremental approach for intraperiod tax allocation in the event of a loss from continuing operations
and income or a gain from other items (such as other comprehensive income), and the exception to using general methodology for the
interim period tax accounting for year-to-date losses that exceed anticipated losses. The guidance was effective for the Company
beginning January 1, 2022, and interim periods in fiscal years beginning January 1, 2023. The implementation of ASU 2019-12
didn’t have material effect on its consolidated financial statements and related disclosures.

In December
2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09, “Income Taxes (