Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 153

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 19
Chunk 153
---
 war against Hamas                 
  and commenced a military campaign against Hamas. In addition, since the commencement of these events, there have been continued hostilities      
  along Israel’s northern border with Lebanon (with the Hezbollah terror organization;), Israel’s southern border with the Gaza                    
  Strip (with the Hamas terrorist organization) and on other fronts from various extremist groups in region, such as the Houthis in Yemen          
  and various rebel militia groups in Syria and Iraq. Further, on April 13, 2024, and on October 1, 2024, Iran launched a series of drone          
  and missile strikes against Israel. As of December 31, 2024 a ceasefire agreement has been reached between Israel and Lebanon. To date           
  the Company’s operations and financial results have not been materially affected. The Company expects that the current conflict                  
  in the Gaza Strip, Lebanon and the security escalation in Israel will not have a material impact on its business results in the short            
  term. However, since this is an event beyond the Company’s control, its continuation or cessation may affect our expectations. The               
  Company continues to monitor its ongoing activities and will make any needed adjustments to ensure continuity of its business, while supporting  
  the safety and well-being of its employees.                                                                                                      
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

As of December 31, 2024 and 2023, the
Company received grants in the amount of $67(NIS248) and $100(NIS360) respectively, from the Israeli government as a support in respect
of the Gaza war.

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES:

  Basis of presentation  

The Company’s
financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“ U. S.
GAAP”).

  Use of estimates  

The preparation of
financial statements in conformity with U. S. GAAP requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting
period. Actual results may differ from those estimates. As applicable to these financial statements, the most significant estimates and
assumptions relate to the fair value of certain financial instruments and share-based compensation. See Notes 13, 15 and 17, respectively.

  Foreign Currency Translation  

The Company’s
and its subsidiaries in US,