Company: SATT
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001683168-25-006219
Chunk: 26

Company: SATIVUS TECH CORP.
Filing Date: 2025-08-15
Form: 10-Q
Item: Item 1
Chunk 26
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 million upon a successful cultivation of saffron in Korea. On March 5th
Dreamtech officially announced a successful completion of the POC for Saffron cultivation in Korea, while meeting the defined success
measurements for saffron quantity and saffron quality.

Saffron Tech aims to be the first company to create
a large-scale production of saffron using vertical farming technology to meet the growing demand of the spice for use in beauty, wellness,
and pharmaceutical applications. Sativus Tech’s interest in Saffron Tech now totals 54% post-raise.

On May 9, 2024, Saffron Tech launched a pilot
site in Ganei Tal, Israel. The pilot demonstrates commercial-like Saffron cultivation, using Saffron Tech proprietary technology and growth
protocol.8j0. In the pilot site Saffron Tech will grow more than 12,000 corms in parallel, 4 cycles a year. The company invested $290.
The Israeli innovation authority (“IIA”) participation was $250.

On October 28th, 2024, the Board appointed
Board Member and Director Shmulik Yannay as CEO of the Company. On the same day Tal Wilkes Glazer resigned her position as Director, CEO
& Board Member. Her resignation was not the result of any dispute with the Company.

 3 

Basis of Presentation

The accompanying unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”)
for interim financial statement presentation and in accordance with Form 10-Q. Accordingly, they do not include all of the information
and footnotes required in annual financial statements. In the opinion of management, the unaudited condensed financial statements contain
all adjustments (consisting only of normal recurring accruals) necessary to present fairly the financial position and results of operations
and cash flows. The results of operations presented are not necessarily indicative of the results to be expected for any other interim
period or for the entire year.

These unaudited condensed financial statements
should be read in conjunction with our December 31, 2024, annual financial statements included in our Form 10-K, filed with
the SEC on March 31st, 2025.

Going Concern

Due to the uncertainty of our ability to meet
our current operating and capital expenses, our independent auditors included an explanatory paragraph in their report on the condensed