SEC Filing Document

Company: DUKE Robotics Corp.
Ticker: DUKR
CIK: 1638911
Filing Type: DRS
Document Type: DRS
Date Filed: 2025-12-22
Accession Number: 0001213900-25-124553
Exchange: OTC
SIC Code: 3721
SIC Description: Aircraft
URL: https://www.sec.gov/Archives/edgar/data/1638911/000121390025124553/filename1.htm

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Net Loss. For the year ended December 31, 2024 and 2023, we recorded a net loss of $985,000 and $726,000, respectively, which represented an increase compared to the year ended December 31, 2024, of $259,000. Liquidity and Capital Resources We had $361,000 in cash on September 30, 2025, versus $1,436,000 in cash on September 30, 2024. The reason for the decrease in our cash balance was due to the operating expenses described above. Cash used in operations for the nine months ended September 30, 2025, was $741,000 as compared to cash used in operations of $739,000 for the nine months ended September 30, 2024. Net cash used in investing activities was $152,000 for the nine months ended September 30, 2025, as compared to net cash used in investing activities of $76,000 for the nine months ended September 30, 2024. The increase is mainly related to purchase of property and equipment.

On May 11, 2021, we entered into securities purchase agreements with
eight (8) non-U.S. Investors, pursuant to which we, in a private placement offering, agreed to issue and sell to investors an aggregate
of: (i) 12,500,000 shares of our common stock at a price of $0.40 per share; and (ii) warrants to purchase 12,500,000 of our common stock.
The warrants were exercisable immediately and for a term of 18 months and have an exercise price of $0.40 per share. The aggregate gross
proceeds from the offering were approximately $5,000,000 and the offering closed on May 11, 2021. On April 5, 2022, we entered into an
agreement with the Investors pursuant to which we extended the term of the warrants, to expire on November 11, 2023. On November 1, 2023,
we and the Investors executed a second extension agreement, such that the term of the warrants was extended to expire on November 11,
2024. On June 20, 2024, we entered into a Warrant Amendment Agreement with the Investors to amend the terms of the warrants issued in
connection with the May 11, 2021 securities purchase agreements. Under the Warrant Amendment Agreement, we and the Investors agreed to:
(i) extend the warrant exercise term to May 11, 2026; (ii) amend the warrant exercise price, increasing it from $0.40 per share to $0.65
per share; and (iii) include a beneficial ownership blocker that limits the exercise of such warrants if the exercise would result in
the holder beneficially owning more than 19.99% of the Company’s common stock immediately following the exercise.

Since our incorporation, we
incurred losses from operations and net cash outflows from operating activities as reflected in the consolidated statements of operations
and cash flows. As of September 30, 2025, we had an accumulated deficit of $11,940,000, and we expect to incur losses for the foreseeable
future. We have historically financed our operations primarily through fundraising from various investors and the revenues that were generated
from our operations to date were not sufficient to cover our losses. As a result, we remain dependent upon external sources to finance
our operations. There can be no assurance that we will succeed in obtaining the necessary financing to continue our operations. These
factors raise substantial doubt about our ability to continue as a going concern through at least twelve months from the date of this
prospectus.

We currently believe that
our existing capital resources will be sufficient to support our operating plan through the second quarter of 2026. To support our planned
growth, strategic initiatives and general working capital needs, we will likely seek to raise additional capital through the issuance
of debt, equity, or a combination thereof. There can be no assurance we will be successful in raising additional capital on favorable
terms, or at all.

Although we are actively pursuing
opportunities to increase revenues, including the potential expansion of commercial sales in additional jurisdictions, some of these efforts
remain at an early stage while other initiatives have progressed to more advanced stages of discussion. However, because none of these
initiatives have resulted in binding agreements or firm commitments, there can be no assurance that any of them will materialize within
our expected timeframes. If we are unable to successfully proceed with these initiatives, our need for additional capital may accelerate.

As a result, there is substantial
doubt about our ability to continue as a going concern. If we are unable to obtain sufficient amounts of additional capital, we may be
required to reduce the scope of our operations, delay or discontinue development activities, limit our manufacturing or commercial expansion
plans, or take other actions that could materially harm our business, financial condition, and operating results. If we obtain additional
funds by selling any of our equity, the percentage ownership of our stockholders will be reduced, stockholders may experience additional
dilution, or the equity securities may have rights preferences or privileges senior to the common stock. If we issue debt securities,
there may be negative covenants which may restrict our company’s activities. If adequate funds are not available to our company
when needed on satisfactory terms, we may be required to cease operating or otherwise modify our business strategy. The financial statements
included in this prospectus do not include adjustments for measurement or presentation of assets and liabilities, which may be required
should we fail to operate as a going concern.

As of September 30, 2025,
we did not have any off-balance sheet arrangements as defined in Item 303(a)(4) of Regulation S-K.

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

The following table sets forth the names, ages, and positions of our
executive officers and directors as of the December 22, 2025. Executive officers are elected annually by Board of Directors (the “Board”).
Each executive officer holds office until he or she resigns, is removed by the Board, or a until a successor is elected and qualified.

Name Age Position

Yariv Alroy 65 Chairman of the Board of Directors

Yossef Balucka 57 Chief Executive Officer and President

Sagiv Aharon 44 Director

Erez Nachtomy 64 Vice Chairman of the Board of Directors

Eran Antebi 55 Director

Keren Gousman Golan 50 Director

Shlomo Zakai 56 Chief Financial Officer

Vadim Maor 54 Chief Technology Officer

Yariv Alroy, Director
and Chairman. Mr. Alroy has been serving as a Director and Chairman since March 10, 2020. Mr. Yariv Alroy is the Managing Director of
T.N.S.A Consulting and Management LTD., a private consulting services and investments firm. From 1989 to 1993 Mr. Alroy worked for an
Israeli law firm, with his last position as a partner. From 1993 to 1997, Mr. Alroy served as COO of SHAHAL Medical Services, and from
1997 to 2000 as Managing Director of SHL International Ltd. From 2000 until January 2016 Mr. Alroy served as Co-CEO of SHL Telemedicine
LTD a company in the field of medical technology development and provision of global telemedicine services, including in the United States,
Germany, India, Japan and Israel, traded in the Swiss Stock exchange (SWX:SHLTN). From December 2018 to August 2024 Mr. Alroy also served
as member of the board of directors and Chairman of SHL Telemedicine. Yariv Alroy holds an LL.B from Tel Aviv University, Israel.

Mr. Alroy was selected to
serve as Director and Chairman of our Board because of his senior leadership experience in global operations, publicly traded companies
and capital markets, as well as his legal background, which the Board believes positions him to provide strategic oversight and corporate
governance leadership.

Yossef Balucka, CEO and President. Mr.
Yossef Balucka has been serving as CEO and President of our Company, Duke and Duke Israel since March 2021. Prior to entering the private
sector, Mr. Balucka served for twenty-five years in various field and headquarters positions in the Israeli Navy and retired as Colonel.
Following his retirement from the Israeli Navy, between 2014 to 2016, Mr. Balucka served as a senior executive and management member for
retail and customer service at Partner Communications Ltd. (TASE:PTNR), one of the leading mobile telecommunications companies in Israel.
From 2017 to 2019 Mr. Balucka served as the CEO of Electra Technologies Ltd., a division of Electra Ltd. (TASE:ELTR), which is active
in the fields of integrated electro-mechanical and construction. Since 2019 Mr. Balucka is the owner of T.R. Eshkolot Com Services Ltd.,
providing global strategic consulting services. Mr. Balucka holds a BA in Economics and Business Administration and an MA in Social Sciences
from the Haifa University, and MA in Public Administration from the Bar Ilan University.