Company: SATT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002119
Chunk: 12

Company: SATIVUS TECH CORP.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 12
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 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. 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. Dreamtech and Saffron Tech started a mutual POC in Korea. The
POC results expected to be amounted in Q1/24. The Company’s interest in Saffron Tech now totals 54% post-raise.

On 28th October 2024, Tal Wil-Glazer
resigned from her position as the CEO and a director of the Company. On the same day, the company announced the appointment of Shmulik
Yanai as the CEO of the Company.

Results of Operations during the year ended
December 31, 2024, as compared to the year ended December 31, 2023

Operating Expenses

Research and Development Expenses for the year
ended December 31, 2024, amounted to $687 thousand as compared to $253 for the year ended December 31, 2023. The reason for the increase
is a smaller grant from IIA during 2024 compare to 2023.

 8 

General and Administrative expenses for the year
ended December 31, 2024, amounted to $271 thousand as compared to $562 thousand for the year ended December 31, 2023. The decrease during
the year ended December 31, 2024, was mainly due the decrease in share-based expenses that amounted to $19 thousand, compared to $156
thousand for the year ended December 31, 2023.

Financing Expenses for the year ended December
31, 2024, amounted to $65 thousand as compared financing income to $228 thousand for the year ended December 31, 2023. Financial expenses
and income are due mainly to financial gains or losses related to revaluations of convertible component in convertible loans.

Results of Operations during the year ended
December 31, 2023, as compared to the year ended December 31, 2022

Operating Expenses

Research and Development Expenses for the year
ended December 31, 2023,