Company: SATT
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001683168-25-006219
Chunk: 35

Company: SATIVUS TECH CORP.
Filing Date: 2025-08-15
Form: 10-Q
Item: Item 2
Chunk 35
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 NIS
32.5 million (approximately $10 million) through the Israeli crowdfunding platform – Pipelbiz (“2022 Crowd Funding Round”).
Assuming the maximum amount is raised, the Company will own approximately 61% of Saffron Tech. The 2022 Crowd Funding Round was closed
on December 1, 2022, having raised 3.8 million NIS (approximately $1.3 million). Fundraising expenses accumulated to $152 and the net
amount raised through Pipelbiz was $1.15 million. Saffron Tech also raised 1.15 million NIS (approximately $328 thousand) through the
issuance of SAFEs. The SAFEs are convertible at a 20% discount to the current crowdfunding round. Sativus Tech’s interest in Saffron
Tech now totals 67.5% post-raise. All SAFEs were converted before December 31, 2022. Saffron Tech continued to raise funds through Pipelbiz
under the same pre-money valuation from December 2022 through to January 2023, via another crowdfunding round “2023 Crowd Funding
Round” which closed on February 5, 2023, having raised another 1.1 million NIS (approximately $314 thousand).

On March 1, 2023, Saffron Tech entered into an
investment agreement with Korean-based company, Dreamtech Co Ltd (“Dreamtech”), a leading provider and manufacturer
of tech components for innovative products including advanced mobile and medical devices. Under this new agreement, Dreamtech will fund
an initial investment of $1 million followed by an additional $1 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
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