Company: SATT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002119
Chunk: 533

Company: SATIVUS TECH CORP.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 533
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 $176 

    Supplemental disclosures of cash flow information: 

    Cash paid for interest 
    $–  
    $126 

The accompanying notes are an integral part of
the consolidated financial statements.

 F-7 

SATIVUS TECH CORP.

NOTES TO FINANCIAL STATEMENTS

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

    NOTE 1:-
    GENERAL

    a.
    SATIVUS TECH CORP. (formerly SEEDO CORP.) (the “Company”, “Our” or “We”) was formed on January 16, 2015, under the laws of the State of Delaware. Prior to July 2020, we were involved in producing a plant growing device managed and controlled by an artificial intelligent algorithm, allowing consumers to grow their own herbs and vegetables effortlessly from seed to plant, while providing optimal conditions to assure premium quality produce year-round. However, due to financial and operational difficulties and during 2020, we ceased these operations and on July 19, 2020, the Company formed a new wholly-owned subsidiary in Israel, Hachevra Legiduley Pkaot Beisrael Ltd. (the “New Subsidiary”), to develop a fully automated and remotely managed system for growing saffron and other vegetables. On November 5, 2020, the New Subsidiary changed its name to Saffron-Tech Ltd. (or “Saffron Tech”). As of the date of this report, and following various financings in Saffron Tech, the Company owns 54% of Saffron Tech.

The Company, through Saffron Tech, is
focusing on its in-house research and development of agriculture technology products, among others, in the fields of exotic plants and
mushrooms. Saffron Tech plans to roll out its proof of concept in the coming months. This technology will provide turnkey automated growing
containers for high-quality, high-yield saffron all year round. The Company is in advanced stages of developing and testing a fully
automated and remotely managed system for growing high-quality, high-yield saffron anywhere and anytime.

It is also environmentally friendly,
using economic levels of water, space, fertilizer, and energy. Accounting to the Company’s calculations, we believe that the controlled
indoor growing area will produce ten times more yield compared to the same land area using traditional methods. The sealed environment