0001493152-24-012211 | S-1/A | XBRL Viewer

Management fee percentage

3.00%

7.00%

Management fee percentage

1.00%

Stock issued during period, value, new issues

$ 6,558,000

^[1]

$ 4,324,000

Joseph Mona [Member]

Purchase price of plaintiffs

$ 485,000

Device [Member]

Integrated Product [Member]

Royalties percentage

3.00%

Securities Purchase Agreement [Member]

Royalties percentage

1.50%

Purchase price of plaintiffs

6,750,000

Israeli Innovation Authority [Member]

Additional grant receivable

Grants receivable

304

₪ 27,000

$ 83

₪ 300,000

$ 447

₪ 1,620,000

Israeli Innovation Authority [Member] | Minimum [Member]

Israeli Innovation Authority [Member] | Maximum [Member]

3.00%

Israeli Innovation Authority [Member] | CardioSert Ltd [Member]

5.00%

Repayment of government grants

$ 530,000

Israeli Innovation Authority [Member] | Nitiloop [Member]

Repayment of government grants

$ 925,000

Technion Research and Development Foundation Limited [Member] | Minimum [Member]

Technion Research and Development Foundation Limited [Member] | Maximum [Member]

1.50%

CardioSert Ltd [Member] | Technology [Member]

3.00%

Payment to acquire intangible assets

$ 300,000

Number of common shares issued for acquisition | shares

6,738

Stock Issued During Period, Value, Acquisitions

$ 74,000

Buy back amount per patent | $ / shares

$ 1.00

Consulting fee description

Additionally, the CardioSert Agreement may be terminated by either party upon breach of the other (subject to cure). Until May 2023, Microbot Israel paid CardioSert a monthly consultation fee of NIS

Professional fees

$ 40,000,000

Monthly consultation fee in usd | $ / shares

$ 11

Currency exchange rate description

exchange rate of NIS 3.7 to the dollar)

CardioSert Ltd [Member] | Minimum [Member] | Technology [Member]

H.C. Wainwright & Co. LLC [Member]

Investments

$ 2,000,000

Warrant issued, descriptions

Professional fees

$ 565,000

The Company has also agreed to issue to Wainwright or its designees preferred investment options upon the closing of such offerings, equal to five (5.0%) percent of the aggregate number of such shares of common stock in such offerings, including upon exercise for cash of any warrants issued to investors in such offering.

H.C. Wainwright & Co. LLC [Member] | At-the-Market Offering Agreement [Member]

Stock issued during period, value, new issues

Offering costs

$ 10,000,000

$ 8,000,000

Alliance Investment Management, Ltd. [Member]

2013 Through June 30, 2022 [Member] | Israeli Innovation Authority [Member]

Litigation settlement

$ 468,000

Revenue from Contract with Customer, Including Assessed Tax

$ 1,804,000

[1]	Net of issuance costs in the amount of $
[2]	Net of issuance costs in the amount of $

SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Expected volatility, minimum	86.50%	111.20%
Expected volatility, maximum	98.20%	161.70%
Risk-free interest, minimum	3.30%	1.70%
Risk-free interest, maximum	4.70%	3.70%
Dividend yield
Expected terms (years)	5 years 9 months 18 days	6 years 2 months 12 days

TAXES ON INCOME (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

	2023			2022
	As of December 31,
	2023			2022

Net operating loss carryforwards	$	115,778		$	113,393
Operating lease liabilities		53			105
Accrued vacation pay		59			71
Legal settlement accrual		464			-
Advance payment from IIA		17			-
Total deferred tax assets		116,371			113,569
Less: valuation allowance		(116,014	)		(113,455	)
Net deferred tax assets		357			114

Operating leases, right-of-use assets		(60	)		(114	)
Grant receivable (Ministry of Economy)		(5	)		-
Insurance recovery receivable		(280	)		-
Marketable securities		(12	)		-
Total deferred tax liabilities		(357	)		(114	)
Total net deferred tax assets	$	-		$	-

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

SCHEDULE OF FAIR VALUE MEASUREMENT INPUTS AND VALUATION TECHNIQUES

The following table summarizes the Company’s financial assets subject to fair value measurement and the level of inputs used in such measurements as of December 31, 2023 and 2022:

	As of December 31, 2023
	Total		Level 1		Level 2		Level 3

Marketable securities:
U.S. treasury securities	$	2,497	$	2,497	$	-	$	-
Money market mutual funds		1,420		1,420		-		-
	$	3,917	$	3,917	$	-	$	-

	As of December 31, 2022
	Total		Level 1		Level 2		Level 3

Cash equivalents:
U.S. treasury securities	$	1,247	$	1,247	$	-	$	-

Marketable securities:
U.S. treasury securities	$	3,761	$	3,761	$	-	$	-
Money market mutual funds		1,999		1,999		-		-
	$	5,760	$	5,760	$	-	$	-

SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Prepaid Expenses And Other Current Assets
Amounts due from government institutions	$ 61	$ 103
Prepaid expenses and other receivables	91	429
Total prepaid expenses and other current assets	$ 152	$ 532

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of presentation

A. Basis of presentation:

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”).

Financial statement in U.S. dollars

B. Financial statement in U.S. dollars:

Use of estimates

C. Use of estimates:

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of consolidation

D. Principles of consolidation:

The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. Inter-company balances and transactions have been eliminated in consolidation.

Reclassification of prior year disclosures:

E. Reclassification of prior year disclosures:

Acquisitions of assets

F. Acquisitions of assets:

Cash and cash equivalents

G. Cash and cash equivalents:

Restricted cash

H. Restricted cash:

Restricted cash of $49 as of December 31, 2023, serves as collateral for the Company’s lease agreement, and $77 as of December 31, 2022, serves as collateral for lease agreements and credit cards.

Fair value of financial instruments

I. Fair value of financial instruments:

The carrying values of cash and cash equivalents, other receivable and other accounts payable and accrued liabilities approximate their fair value due to the short-term maturity of these instruments.

Level 1 - Quoted prices (unadjusted) in active markets for identical assets and liabilities.

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Concentrations of credit risk:

J. Concentrations of credit risk:

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Property and equipment

K. Property and equipment:

	%

Research equipment and software		25-33
Furniture and office equipment		7
Leasehold improvements		Over the lease period

Liabilities due to termination of employment agreements

L. Liabilities due to termination of employment agreements:

Common stock warrants

M. Common stock warrants:

Basic and diluted net loss per share

N. Basic and diluted net loss per share:

General and administrative expenses, net:

O. General and administrative expenses, net:

Research and development expenses, net:

P. Research and development expenses, net:

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Share-based compensation

Q. Share-based compensation:

Income taxes

R. Income taxes:

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Marketable securities

S. Marketable securities:

Leases:

T. Leases:

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Contingencies:

U. Contingencies:

Government grants:

V. Government grants:

Recently issued accounting pronouncements:

W. Recently issued accounting pronouncements:

CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2023

Cash and Cash Equivalents [Abstract]

CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES

NOTE 3 – CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES

The following table sets forth our cash, cash equivalents and marketable securities as of December 31, 2023 and 2022:


	As of December 31,
	2023		2022
Cash and cash equivalents:
Cash	$	2,468	$	1,195
U.S. treasury securities		-		1,247
Total cash and cash equivalents	$	2,468	$	2,442

Marketable securities:
Money market mutual funds	$	1,420	$	1,999
U.S. treasury securities		2,497		3,761
Total marketable securities	$	3,917	$	5,760

Total cash, cash equivalents and marketable securities	$	6,385	$	8,202

The unrealized gains on our marketable securities were $59 and $12 for the years ended December 31, 2023 and 2022, respectively.

Treasuries have contractual maturities of less than 12 months.

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

SCHEDULE OF CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	$ 2,468	$ 2,442
Total marketable securities	3,917	5,760
Total cash, cash equivalents and marketable securities	6,385	8,202
Money Market Funds [Member]
Cash and Cash Equivalents [Line Items]
Total marketable securities	1,420	1,999
US Treasury Securities [Member]
Cash and Cash Equivalents [Line Items]
Total marketable securities	2,497	3,761
Cash [Member]
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	2,468	1,195
US Treasury Securities [Member]
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents		$ 1,247

SCHEDULE OF STOCK OPTIONS OUTSTANDING (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Stock options outstanding	2,095,362	1,507,137
Stock options exercisable	1,176,118	899,609
Exercise Price One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Stock options outstanding	61,577	61,577
Weighted average remaining contractual life	2 years 3 months 18 days	3 years 3 months 18 days
Stock options exercisable	61,577	61,577
Exercise Price One [Member] \| Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 0.00	$ 0.00
Exercise Price One [Member] \| Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 0.01	$ 0.01
Exercise Price Two [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Stock options outstanding	860,808	211,000
Weighted average remaining contractual life	9 years 7 months 6 days	10 years
Stock options exercisable	95,925
Exercise Price Two [Member] \| Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 1.00	$ 1.00
Exercise Price Two [Member] \| Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 3.73	$ 3.73
Exercise Price Three [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Stock options outstanding	639,232	687,482
Weighted average remaining contractual life	6 years 3 months 18 days	8 years
Stock options exercisable	484,871	315,807
Exercise Price Three [Member] \| Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 4.2	$ 4.2
Exercise Price Three [Member] \| Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 7.26	$ 7.26
Exercise Price Four [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Stock options outstanding	380,872	380,872
Weighted average remaining contractual life	6 years 7 months 6 days	7 years 7 months 6 days
Stock options exercisable	380,872	356,019
Exercise Price Four [Member] \| Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 8.16	$ 8.16
Exercise Price Four [Member] \| Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 9.64	$ 9.64
Exercise Price Five [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Stock options outstanding	152,873	166,206
Weighted average remaining contractual life	3 years 8 months 12 days	4 years 9 months 18 days
Stock options exercisable	152,873	166,206
Exercise Price Five [Member] \| Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 15.3	$ 15.3
Exercise Price Five [Member] \| Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 15.75	$ 15.75

SCHEDULE OF MATURITIES OF LEASE LIABILITIES (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases
2024	$ 208
2025	48
2026	21
Total future lease payments	277
Less imputed interest	(47)
Total lease liabilities	$ 231

SUMMARY OF STOCK OPTION ACTIVITY (Details) - Employees and Directors [Member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of stock options outstanding, Outstanding at beginning of period	1,507,137	997,148
Weighted average exercise price, Outstanding at beginning of period	$ 7.31	$ 8.48
Number of stock options outstanding, Granted	711,308	530,822
Weighted average exercise price, Granted	$ 1.75	$ 5.14
Number of stock options outstanding, forfeitures	(123,083)	(20,833)
Weighted average exercise price, forfeitures	$ 5.78	$ 8.16
Number of stock options outstanding, Outstanding at end of period	2,095,362	1,507,137
Weighted average exercise price, Outstanding at end of period	$ 5.51	$ 7.31
Number of stock options outstanding, Vested at end of period	1,176,118	899,609
Weighted average exercise price, Vested at end of period	$ 7.74	$ 8.52

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 16 – SUBSEQUENT EVENTS

A. Preferred investment options inducement:

On December 29, 2023, the Company entered into a preferred investment option exercise inducement offer letter with certain holders of existing (i) Series A preferred investment options to purchase 1,022,495 shares of the Company’s common stock at an exercise price of $2.20 per share, issued on October 25, 2022, as amended on May 24, 2023, (ii) Series C preferred investment options to purchase 350,878 shares of the Company’s common stock at an exercise price of $2.075 per share, issued on June 6, 2023, and (iii) Series D preferred investment options to purchase 312,309 shares of the Company’s common stock at an exercise price of $3.19 per share issued on June 26, 2023 (clauses (i) through (iii) collectively, the “Existing Preferred Investment Options”), pursuant to which the holders agreed to exercise for cash their Existing Investment Options to purchase an aggregate of 1,685,682 shares of the Company’s common stock, at a reduced exercised price of $1.62 per share, in consideration for the Company’s agreement to issue new series E preferred investment options having terms to purchase up to 1,685,682 shares of the Company’s common stock (the “Inducement Investment Options”). Each Inducement Investment Option will have an exercise price equal to $1.50 per share, and will be exercisable from the date of the issuance until five and one-half (5.5) years following the date of the issuance. The Company received aggregate gross proceeds of approximately $2,730 from the exercise of the Existing Investment Options by the Holders and the sale of the Inducement Investment Options, before deducting placement agent fees and other offering expenses payable by the Company.

As mentioned in Note 9E above, the Company engaged Wainwright to act as its exclusive placement agent in connection with the transactions summarized above pursuant to an Engagement Letter, dated October 24, 2023 and paid Wainwright a cash fee equal to 7.0% of the gross proceeds received from the exercise of the Existing Investment Options as well as a management fee equal to 1.0% of the gross proceeds from the exercise of the Existing Investment Options. The Company also paid Wainwright $60 for non-accountable expenses, and approximately $16 for certain administrative fees. The Company also issued to Wainwright or its designees preferred investment options to purchase up to 84,284 shares of common stock which have the same terms as the Inducement Investment Options except for an exercise price equal to $2.025 per share. Further, pursuant to the engagement letter, Wainwright has a right of first refusal to act as sole book-running manager, sole underwriter, or sole placement agent with respect to any public offering or private placement of equity, equity-linked or debt securities using an underwriter or placement agent occurring during the twelve-month period following the closing date January 3, 2024.

The Closing of the preferred investment option exercise inducement offer letter, and the modification of the previous warrants, the issuance of the stock and the warrants, and the receipt of cash, all occurred after December 31, 2023.

B. Reinstatement of annual compensation:

On January 8, 2024, the Board of Directors of the Company authorized the reinstatement of the annual fees payable to the independent directors for their services, effective as of January 1, 2024. Such fees were suspended in May 2023 as a result of the Company’s cost reduction plan.

The Company also reinstated in full of the annual compensation of the CEO, effective as of January 1, 2024. Such compensation was reduced by 50% in May 2023 as a result of the Company’s cost reduction plan.

C. Settlement of litigation resulting from the 2017 financing:

On January 26, 2024 (the “Effective Date”), the Company entered into a settlement agreement and release with the Plaintiffs (the “Settlement Agreement”), effectively resolving a lawsuit brought against the Company in 2020. The lawsuit stemmed from securities purchase agreements made between the Company and the third parties in 2017.

Pursuant to the Settlement Agreement, the Company agreed to pay $2,154 consisting of a cash payment of $1,100, covered by the Company’s insurance company, and 1,005,965 shares of restricted common stock. Furthermore, the Company’s insurance company is responsible for covering legal expenses incurred by the Company in relation to the legal proceedings of the Lawsuit. As part of the Settlement Agreement, the Company is also obligated to register the restricted common stock. In February 2024, the Plaintiffs filed a stipulation discontinuing the Lawsuit with prejudice.

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

The Company concluded the Settlement Agreement gave rise to loss contingencies in the scope of ASC Subtopic 450-20, Contingencies – Loss Contingencies, and as of December 31, 2023, the Company recorded a contingent liability, as the Company deemed it both probable and reasonably estimable.

The Company determined that the loss contingency should be recognized as non-operating losses, offset by loss recoveries received from the Company’s insurance company.

As a result of the Settlement Agreement and the insurance recovery received from the insurance company, as of December 31, 2023, the Company recorded a liability and an asset on its balance sheet totaling $2,211 and $1,335, respectively. Within this asset, $1,100 represents the recovery of the cash payment of the settlement amount, and $235 represents recovery of legal expenses. A net non-operating loss of $1,111 from legal settlement was reflected in the Company’s statement of comprehensive loss for the year ended December 31, 2023.

D. Stock option grants and other compensation:

In February 2024, the Company granted the CEO, certain executives and certain employees, fully vested options to purchase an aggregate of 130,000 shares of the Company’s common stock, at an exercise price per share of $1.2684, attributable to performance goals achieved in January 2024. The Company also granted the CEO and other executives, options to purchase an aggregate of 132,500 shares of common stock at an exercise price per share of $1.25, with vesting based on meeting certain performance conditions in the year 2024.

In February 2024, the Company granted certain employees and advisors, options to purchase an aggregate of 77,500 shares of the Company’s common stock, at an exercise price per share of $1.2684, with a vesting period of three years.

Regarding the CEO’s 2023 annual bonus, in February 2024, the Company paid the CEO 25% of his 2023 annual bonus, amounting to approximately $99, through the grant of fully vested options to purchase an aggregate of 79,567 shares of the Company’s common stock with an exercise price per share of $1.25. The remaining 75% of the CEO’s bonus will be paid in cash contingent upon meeting certain conditions during 2024. As for other Company executives’ 2023 annual bonuses, in February 2024, the Company paid 50% of such bonuses in cash. The remaining 50% of such bonuses will be paid in cash contingent upon meeting certain conditions during 2024. As of December 31, 2023 and for the year then ended, the portions of the bonuses, which were paid in February 2024 in options and cash, were reflected as a liability in the Company’s balance sheet against payroll expenses in the Company’s statement of comprehensive loss, amounting to approximately $140.

E. Return of CardioSert intellectual property assets:

On March 3, 2024, the Company received notice from CardioSert that it was triggering its right to reacquire the Technology, pursuant to its rights under the CardioSert Agreement. The Company expects the transfer of the Technology back to CardioSert will occur in the second fiscal quarter of 2024.

SUBSEQUENT EVENTS (Details Narrative) - USD ($)

12 Months Ended

Feb. 29, 2024

Jan. 26, 2024

Dec. 29, 2023

Jun. 06, 2023

Oct. 03, 2022

Dec. 31, 2023

Dec. 31, 2022

Jun. 29, 2023

Jun. 26, 2023

May 31, 2023

Oct. 25, 2022

Existing investment options

$ 2,730,000

Gross proceeds from cash fee percentage

7.00%

Gross proceeds from management fee percentage

1.00%

Legal settlement accrual

$ 2,211,000

$ 1,335,000

Settlement amount recovery

1,100,000

Legal expense

235,000

Non operating loss on legal settlement

$ 1,111,000

Common Stock [Member]

Issuance of common stock upon exercise of warrants, shares

3,816,689

^[1]

782,495

^[2]

Subsequent Event [Member]

Litigation settlement amount

$ 2,154,000

Annual bonus

$ 99,000

Payroll expenses

$ 140

Subsequent Event [Member] | Common Stock [Member]

Issuance of common stock upon exercise of warrants, shares

77,500

Subsequent Event [Member] | Litigation Settlement [Member]

$ 1.2684

Number of options vested

79,567

Payments for Legal Settlements

$ 1,100

Restricted common shares issued for legal settlement

1,005,965

Chief Executive Officer [Member]

Chief Executive Officer [Member] | Common Stock [Member]

Cost reduction plan

50.00%

Agggregate number of options granted

80,000

Weighted average exercise price

$ 2.43

Director [Member] | Subsequent Event [Member]

Agggregate number of options granted

130,000

Director [Member] | Subsequent Event [Member] | Common Stock [Member]

Issuance of common stock upon exercise of warrants, shares

132,500

Weighted average exercise price

$ 1.2684

$ 1.25

Preferred Investment Option Exercise Inducement Offers Letter [Member]

Issuance of common stock upon exercise of warrants, shares

1,022,495

350,878

Options exercise price per share

$ 2.20

Options to purchase an aggregate

$ 2.075

$ 1.62

$ 3.19

1,685,682

Preferred Investment Option Exercise Inducement Offers Letter [Member] | H.C. Wainwright & Co. LLC [Member]

Issuance of common stock upon exercise of warrants, shares

84,284

Gross proceeds from cash fee percentage

$ 2.025

7.00%

Gross proceeds from management fee percentage

1.00%

Non-accountable expenses

$ 60,000

Clearing fees

$ 16,000

Inducement Investment Option [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

$ 1.50

[1]	Net of issuance costs in the amount of $
[2]	Net of issuance costs in the amount of $

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating activities:
Net loss	$ (10,740)	$ (13,168)
Adjustments to reconcile net loss to net cash flows used in operating activities:
Depreciation of property and equipment	106	102
Loss on legal settlement	2,211
Insurance recovery related to legal settlement	(1,335)
Interest income and unrealized gains from marketable securities, net	(160)	(12)
Loss on disposal of property and equipment	2	5
Share-based compensation	1,394	1,752
Changes in assets and liabilities:
Prepaid expenses and other assets	672	13
Other payables and accrued liabilities	(683)	(241)
Net cash flows used in operating activities	(8,533)	(11,549)
Investing activities:
Short-term deposit	3	(3)
Purchase of property and equipment	(33)	(84)
Proceeds from maturities of marketable securities	9,164
Purchase of marketable securities	(10,060)	(3,749)
Proceeds from sales of marketable securities	2,899
Net cash flows provided by (used in) investing activities	1,973	(3,836)
Financing activities:
Issuance of common stock and warrants, net of issuance costs	6,558	4,324
Net cash flows provided by financing activities	6,558	4,324
Decrease in cash, cash equivalents and restricted cash	(2)	(11,061)
Cash, cash equivalents and restricted cash at beginning of year	2,519	13,580
Cash, cash equivalents and restricted cash at ending of year	2,517	2,519
Supplemental disclosure of cash flow information:
Cash received from interest	130	51
Right-of-use assets obtained in exchange for lease liabilities	$ 50	$ 103

SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO OPERATING LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases
Cash paid under operating lease agreements	$ 283	$ 344

SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES EXCLUDED FROM DILUTED LOSS PER SHARE (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share	2,095,362	1,507,137
Series A (2013) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share		183
Warrant To Underwriters December One Two Thousand Nineteen [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share		45,643
Warrant To Underwriters December Two Two Thousand Nineteen [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share		47,619
Warrant To Underwriters December Three Two Thousand Nineteen [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share		45,045
Series A And B Warrant October Two Thousand Twenty Two [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share	1,022,495	2,044,990
Warrant To Underwriters October Two Thousand Twenty Two [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share	51,125	51,125
Warrant To Underwriters One May Two Thousand Twenty Three [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share	32,778
Warrant To Underwriters Two May Two Thousand Twenty Three [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share	60,476
Warrant To Underwriters June Two Thousand Twenty Three [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share	35,088
Warrant Series C June Two Thousand Twenty Three [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share	350,878
Warrant To Underwriters June Two Thousand Twenty Three Two [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share	31,231
Warrant Series D June Two Thousand Twenty Three [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share	312,309
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from diluted loss per share	2,095,362	1,507,137

SCHEDULE OF WARRANTS OUTSTANDING (Details) - $ / shares

12 Months Ended

Dec. 31, 2023

Feb. 13, 2023

Dec. 31, 2022

240,000

Accumulated Other Comprehensive Income (Loss) [Line Items]

$ 0.0001

Series A (2013) [Member]

183

$ 2,754.00

Warrant To Underwriters Two Thousand Nineteen December One [Member]

April 9, 2023

Accumulated Other Comprehensive Income (Loss) [Line Items]

45,643

$ 13.13

Warrant To Underwriters Two Thousand Nineteen December Two [Member]

June 25, 2023

Accumulated Other Comprehensive Income (Loss) [Line Items]

47,619

$ 13.13

Warrant To Underwriters Two Thousand Nineteen December Three [Member]

June 27, 2023

Accumulated Other Comprehensive Income (Loss) [Line Items]

45,045

$ 13.88

Series A Warrant October Two Thousand Twenty Two [Member]

June 30, 2023

Accumulated Other Comprehensive Income (Loss) [Line Items]

1,022,495

$ 2.20

Series B Warrant October Two Thousand Twenty Two [Member]

October 25, 2027

Accumulated Other Comprehensive Income (Loss) [Line Items]

1,022,495

$ 2.20

Pre Funded Warrants October Two Thousand Twenty Two [Member]

October 25, 2027

Accumulated Other Comprehensive Income (Loss) [Line Items]

240,000

^[1]

Warrant To Underwriters October Two Thousand Twenty Two [Member]

No limit

Accumulated Other Comprehensive Income (Loss) [Line Items]

51,125

$ 6.11

Warrant To Underwriters One May Two Thousand Twenty Three [Member]

October 21, 2027

Accumulated Other Comprehensive Income (Loss) [Line Items]

32,778

$ 2.75

Warrant To Underwriters Two May Two Thousand Twenty Three [Member]

November 23, 2026

Accumulated Other Comprehensive Income (Loss) [Line Items]

60,476

$ 2.75

Warrant To Underwriters One June Two Thousand Twenty Three [Member]

November 24, 2026

Accumulated Other Comprehensive Income (Loss) [Line Items]

35,088

$ 2.67

Warrant Series C June Two Thousand Twenty Three [Member]

June 2, 2028

Accumulated Other Comprehensive Income (Loss) [Line Items]

350,878

$ 2.08

Warrant To Underwriters Two June Two Thousand Twenty Three [Member]

December 6, 2028

Accumulated Other Comprehensive Income (Loss) [Line Items]

31,231

$ 4.06

Warrant Series D June Two Thousand Twenty Three [Member]

June 28, 2028

Accumulated Other Comprehensive Income (Loss) [Line Items]

312,309

$ 3.19

SCHEDULE OF RESEARCH AND DEVELOPMENT EXPENSES

December 28, 2028

[1]	Less than $0.01.

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 4 - FAIR VALUE MEASUREMENTS

The following table summarizes the Company’s financial assets subject to fair value measurement and the level of inputs used in such measurements as of December 31, 2023 and 2022:

	As of December 31, 2023
	Total		Level 1		Level 2		Level 3

Marketable securities:
U.S. treasury securities	$	2,497	$	2,497	$	-	$	-
Money market mutual funds		1,420		1,420		-		-
	$	3,917	$	3,917	$	-	$	-

	As of December 31, 2022
	Total		Level 1		Level 2		Level 3

Cash equivalents:
U.S. treasury securities	$	1,247	$	1,247	$	-	$	-

Marketable securities:
U.S. treasury securities	$	3,761	$	3,761	$	-	$	-
Money market mutual funds		1,999		1,999		-		-
	$	5,760	$	5,760	$	-	$	-

The Company’s financial assets are measured at fair value on a recurring basis by level within the fair value hierarchy. The Company’s securities and money market funds are classified as Level 1. Other than that, the Company doesn’t have any other financial assets or financial liabilities marked to market at fair value as of December 31, 2023 and 2022.

RESEARCH AND DEVELOPMENT EXPENSES, NET (Tables)

12 Months Ended

Dec. 31, 2023

Research and Development [Abstract]

	2023			2022
	For the Years Ended December 31,
	2023			2022
Payroll and related expenses	$	2,455		$	3,558
Share-based compensation		407			387
Professional services		1,842			2,097
Materials		520			559
Patents		157			341
Rent		213			224
Office and maintenance expenses		55			100
Depreciation		106			102
Other		248			368
Less - grants		(279	)		-
Research and development expense	$	5,724		$	7,736

ACCRUED LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

SCHEDULE OF ACCRUED LIABILITIES


	As of December 31,
	2023		2022

Employee-related liabilities	$	725	$	1,372
Other current liabilities		302		298
Total Accrued Liabilities	$	1,027	$	1,670

SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases
Operating leases weighted average remaining lease term (in years)	9 months 18 days	2 years
Operating leases weighted average discount rate	7.00%	9.00%

BASIC AND DILUTED NET LOSS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES EXCLUDED FROM DILUTED LOSS PER SHARE

	2023		2022
	For the Years Ended December 31,
	2023		2022

Series A 2013		-		183
Warrant to underwriters December 2019		-		45,643
Warrant to underwriters December 2019		-		47,619
Warrant to underwriters December 2019		-		45,045
Series A and B warrants October 2022		1,022,495		2,044,990
Warrant to underwriters October 2022		51,125		51,125
Warrant to underwriters May 2023		32,778		-
Warrant to underwriters May 2023		60,476		-
Warrant to underwriters June 2023		35,088		-
Warrant series C June 2023		350,878		-
Warrant to underwriters June 2023		31,231		-
Warrant series D June 2023		312,309		-
Outstanding employee stock options to purchase common stock		2,095,362		1,507,137
		2,095,362		1,507,137

SHARE CAPITAL

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

SHARE CAPITAL

NOTE 10 - SHARE CAPITAL

A. Share capital developments:

As of December 31, 2023 and 2022, the Company has 11,707,317 and 7,890,628 shares of common stock issued and outstanding, respectively.

On October 21, 2022, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with an institutional investor (the “Investor”), pursuant to which the Company issued and sold, in a registered direct offering priced at-the-market under the rules of The Nasdaq Stock Market (the “Registered Offering”), (i) an aggregate of 782,495 shares of common stock, at an offering price of $4.89 per share and (ii) pre-funded warrants exercisable for up to 240,000 shares of common stock (the “Pre-Funded Warrants”) to the Investor at an offering price of $4.8899 per Pre-Funded Warrant, for aggregate gross proceeds from the Offerings (as defined below) of approximately $5,000 before deducting the placement agent fee (as described below) and related offering expenses.

Each Pre-Funded Warrant represents the right to purchase one share of common stock at an exercise price of $0.0001 per share. The Pre-Funded Warrants are exercisable immediately and may be exercised at any time until the Pre-Funded Warrants are exercised in full.

In a concurrent private placement (the “Private Placement” and, together with the Registered Offering, the “Offerings”), the Company issued to the Investor (i) Series A preferred investment options to purchase up to 1,022,495 shares of common stock (the “Series A Warrants”) at an exercise price of $4.64 per share and (ii) Series B preferred investment options to purchase up to 1,022,495 shares of common stock (the “Series B Warrants”) at an exercise price of $4.64 per share. Each Series A Warrant is exercisable immediately and will expire five years from the initial exercise date. Each Series B Warrant is exercisable immediately and will expire two years from the initial exercise date.

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 10 - SHARE CAPITAL

On October 3, 2022 and in connection with the Offerings, the Company entered into an Engagement Letter with Wainwright as mentioned in Note 9E, as compensation for such placement agent services, the Company paid Wainwright aggregate cash fees and reimbursed Wainwright for its expenses aggregating approximately $565. The Company incurred other related offering expenses of $111. The Company also issued to Wainwright or its designees warrants to purchase 51,125 shares of common stock (the “Wainwright Warrants”). The Wainwright Warrants have a term of five years from the commencement of sales in the Offerings, and have an exercise price of $6.11 per share. The Company estimated the fair value of the warrants using a Black-Scholes options pricing model and concluded it is approximately $138.

On February 13, 2023, 240,000 of the Company’s outstanding pre-funded warrants were exercised into an equivalent number of shares of common stock, at an exercise price of $0.0001 per share.

B. Registered direct and private placement offerings:

On May 22, 2023, the Company entered into a securities purchase agreement with an institutional investor, pursuant to which it agreed to issue and sell in a registered direct offering an aggregate of 655,569 shares of common stock, at an offering price of $2.20 per share, for aggregate gross proceeds of $1,442 before deducting the placement agent fee and related offering expenses of approximately $222 (the “First May Offering”). The Company also issued to Wainwright or its designees preferred investment options to purchase 32,778 shares of common stock, which have a term of three and one-half years from the commencement of sales in the First May Offering, and have an exercise price of $2.75 per share. The First May Offering was consummated on May 23, 2023. The Company estimated the fair value of the warrants using a Black-Scholes options pricing model and concluded it is approximately $46.

On May 23, 2023, the Company entered into a securities purchase agreement with an institutional investor, pursuant to which it agreed to issue and sell in a registered direct offering (i) an aggregate of 975,000 shares of common stock, at an offering price of $2.20 per share and (ii) pre-funded warrants exercisable for up to 234,500 shares of the Company’s common stock, at an offering price of $2.1999 per pre-funded warrant, for aggregate gross proceeds of $2,661 before deducting the placement agent fee and related offering expenses of approximately $345 (the “Second May Offering”). The pre-funded warrants are exercisable immediately and may be exercised at any time until the pre-funded warrants are exercised in full. The Second May Offering was consummated on May 24, 2023. All of such pre-funded warrants were subsequently immediately exercised in accordance with their terms at an exercise price per share of $0.0001 into an equivalent number of shares of common stock.

The Company also issued to Wainwright or its designees preferred investment options to purchase 60,476 shares of common stock, which have a term of three and one-half years from the closing of the Second May Offering, and have an exercise price of $2.75 per share. The Company estimated the fair value of the warrants using a Black-Scholes options pricing model and concluded it is approximately $72.

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 10 - SHARE CAPITAL

Registered Direct and Private Placement Offerings:

On June 2, 2023, the Company entered into a securities purchase agreement with institutional investors, pursuant to which it agreed to issue and sell in a registered direct offering an aggregate of 701,756 shares of common stock, at an offering price of $2.1375 per share, for aggregate gross proceeds, with the concurrent private placement described below, of $1,500 before deducting the placement agent fee and related offering expenses of approximately $227 (the “First June Offering”). The Company also issued to Wainwright or its designees preferred investment options to purchase 35,088 shares of its common stock, which have a term of five years from the commencement of sales in the First June Offering, and have an exercise price of $2.6719 per share. The Company estimated the fair value of the warrants using a Black-Scholes options pricing model and concluded it is approximately $58. The registered direct offering was consummated on June 6, 2023. In a concurrent private placement, the Company also issued to the purchasers of shares of common stock in the First June Offering, series C preferred investment options to purchase up to 350,878 shares of common stock. Each series C preferred investment option is exercisable for one share of common stock at an exercise price of $2.075 commencing on the date of issuance and expiring five and one-half years from the issuance date.

On June 26, 2023, the Company entered into a securities purchase agreement with institutional investors, pursuant to which it agreed to issue and sell in a registered direct offering an aggregate of 624,618 shares of its common stock, at an offering price of $3.25 per share, for aggregate gross proceeds, with the concurrent private placement described below, of $2,030 before deducting the placement agent fee and related offering expenses of approximately $281 (the “Second June Offering”). The Company also issued to Wainwright or its designees preferred investment options to purchase 31,231 shares of its common stock, which have a term of five years from the commencement of sales in the Second June Offering, and have an exercise price of $4.0625 per share. The Company estimated the fair value of the warrants using a Black-Scholes options pricing model and concluded it is approximately $68. The registered direct offering was consummated on June 28, 2023. In a concurrent private placement, the Company also issued to the purchasers of shares of common stock in the Second June Offering, series D preferred investment options to purchase up to 312,309 shares of the Company’s common stock. Each series D preferred investment option is exercisable for one share of common stock at an exercise price of $3.19 commencing on the date of issuance and expiring five and one-half years from the issuance date.

The common stock of the Company are recognized as equity under the requirements of ASC Topic 505 Equity.

The Company analyzed the accounting treatment for the series A preferred investment option, the series B preferred investment option, the series C preferred investment option, the series D preferred investment option, and all of the pre-funded warrants issued to investors. Based on the Company’s analysis all such warrants were classified as equity.

The Company analyzed the accounting treatment for all of the preferred investment options issued to Wainwright in the aforementioned offerings. Since the Company did not identify any features causing liability classification according to ASC 718, it concluded that all such preferred investment options are equity-classified awards.

C. Preferred investment options amendment:

In connection with the Second May Offering, the Company amended the terms of (i) the Series A preferred investment options to purchase 1,022,495 shares of its common stock for an exercise price of $4.64 per share which are scheduled to expire on October 25, 2027 and (ii) the Series B preferred investment options to purchase 1,022,495 shares of its common stock for an exercise price of $4.64 per share which were initially scheduled to expire on October 25, 2024 (the “Series B Preferred Investment Options”), in each case previously issued to the investor in October 2022 under the securities purchase agreement dated October 21, 2022 (collectively, the “Existing Preferred Investment Options”), which investor also participated in the Second May Offering, such that effective upon the closing of the Second May Offering, the Existing Preferred Investment Options have a reduced exercise price of $2.20 per share and the Series B Preferred Investment Options expire on October 25, 2027. These modifications to the Existing Preferred Investment Options represent issuance costs associated with the Second May Offering. The Company estimated the amount of the effect of the modifications using a Black-Scholes option pricing model and concluded that is approximately $1,230. On June 16, 2023, the holder of the Series B Preferred Investment Options exercised all of such Series B Preferred Investment Options pursuant to its cashless exercise provision into 385,246 shares of common stock.

	For the Years Ended December 31,
	2023		2022
Expected volatility		101.31%-122.39%		87.96	%
Risk-free interest		3.85%- 4.93%		4.25	%
Dividend yield		-%		-%
Expected terms (years)		1.42-5		4.99

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 10 - SHARE CAPITAL

D. Employee stock option grants:

During the year ended December 31, 2022, the Company granted to Mr. Harel Gadot, the Company’s Chairman of the Board, President and CEO (the “CEO”), options to purchase an aggregate of 260,000 shares of the Company’s common stock, at an exercise price per share ranging from $3.73-$6.48. The stock options vest over a period of three years as outlined in the option agreements evidencing such grants.

During the year ended December 31, 2022, the Company granted to certain employees, consultants and directors, options to purchase an aggregate of 270,822 shares of the Company’s common stock, at an exercise price per share ranging from $3.73-$6.48. The stock options vest over a period of three years as outlined in the option agreements evidencing such grants.

During the year ended December 31, 2023, the Company granted to the CEO, options to purchase an aggregate of 80,000 shares of the Company’s common stock, at an exercise price per share of $2.43. The stock options vest over a period of three years as outlined in the option agreements evidencing such grants.

During the year ended December 31, 2023, the Company granted stock option awards to certain officers, directors and employees to purchase an aggregate of 631,308 shares of the Company’s common stock, at an exercise price per share ranging from $1.16-$3.48 with a vesting period of three years.

A summary of the Company’s option activity related to options to employees and directors, and related information is as follows:

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 10 - SHARE CAPITAL

Employee stock option grants:

SUMMARY OF STOCK OPTION ACTIVITY

	For the Year Ended December 31, 2023
	Number of stock options			Weighted average exercise price

Outstanding as of December 31, 2022		1,507,137		$	7.31
Granted		711,308			1.75
Forfeitures		(123,083	)		5.78
Outstanding as of December 31, 2023		2,095,362		$	5.51

Vested as of December 31, 2023		1,176,118		$	7.74

	For the Year Ended December 31, 2022
	Number of stock options			Weighted average exercise price

Outstanding as of December 31, 2021		997,148		$	8.48
Granted		530,822			5.14
Forfeitures		(20,833	)		8.16
Outstanding as of December 31, 2022		1,507,137		$	7.31

Vested as of December 31, 2022		899,609		$	8.52

The Company recognizes forfeitures of outstanding options as they occur.

The intrinsic value is calculated as the difference between the fair market value of the common stock and the exercise price, multiplied by the number of in-the-money stock options on those dates that would have been received by the stock option holders had all stock option holders exercised their stock options on those dates as of December 31, 2023 and December 31, 2022, respectively.

As of December 31, 2023, and 2022, the aggregate intrinsic value of the outstanding options is $277 and $185, respectively, and the aggregate intrinsic value of the exercisable options is $102 and $185, respectively.

The weighted average grant date fair value of options granted during the years ended December 31, 2023 and 2022 was $1.40 and $4.50, respectively.

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 10 - SHARE CAPITAL

Employee stock option grants:

As of December 31, 2023, there were approximately $1,918 of total unrecognized compensation costs related to unvested share-based compensation awards granted under the Share Incentive Plan. The costs are expected to be recognized over a weighted average period of 2.4 years.

The stock options outstanding as of December 31, 2023 and December 31, 2022, summarized by exercise prices, are as follows:

SCHEDULE OF STOCK OPTIONS OUTSTANDING

Exercise price $	Stock options outstanding as of December 31, 2023		Stock options outstanding as of December 31, 2022		Weighted average remaining contractual life – years as of December 31, 2023		Weighted average remaining contractual life – years as of December 31, 2022		Stock options exercisable as of December 31, 2023		Stock options exercisable as of December 31, 2022
0.00-0.01		61,577		61,577		2.3		3.3		61,577		61,577
1.00-3.73		860,808		211,000		9.6		10		95,925		-
4.2-7.26		639,232		687,482		6.3		8.0		484,871		315,807
8.16-9.64		380,872		380,872		6.6		7.6		380,872		356,019
15.3-15.75		152,873		166,206		3.7		4.8		152,873		166,206
		2,095,362		1,507,137						1,176,118		899,609

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 10 - SHARE CAPITAL

Employee stock option grants:

The grant date fair values of employee stock options granted in the years ended December 31, 2023 and 2022 were estimated using the Black-Scholes valuation model with the following:

	For the Years Ended December 31,
	2023		2022
Expected volatility		86.5%-98.2%		111.2%-161.7%
Risk-free interest		3.3%- 4.7%		1.7%- 3.7%
Dividend yield		-%		-%
Expected terms (years)		5.8		6.2

E. Warrants:

The remaining outstanding warrants and terms as of December 31, 2023 and 2022 are as follows:

SCHEDULE OF WARRANTS OUTSTANDING

Issuance date	Outstanding and exercisable as of December 31, 2023		Outstanding and exercisable as of December 31, 2022		Exercise Price			Exercisable Through
Series A (2013)		-		183	$	2,754.00		April 9, 2023
Warrant to underwriters December 2019		-		45,643	$	13.13		June 25, 2023
Warrant to underwriters December 2019		-		47,619	$	13.13		June 27, 2023
Warrant to underwriters December 2019		-		45,045	$	13.88		June 30, 2023
Series A October 2022		1,022,495		1,022,495	$	2.20		October 25, 2027
Series B October 2022		-		1,022,495	$	2.20		October 25, 2027
Prefunded warrants October 2022		-		240,000	$	(*	)	No limit
Warrant to underwriters October 2022		51,125		51,125	$	6.11		October 21, 2027
Warrant to underwriters May 2023		32,778		-	$	2.75		November 23, 2026
Warrant to underwriters May 2023		60,476		-	$	2.75		November 24, 2026
Warrant to underwriters June 2023		35,088		-	$	2.67		June 2, 2028
Warrant series C June 2023		350,878		-	$	2.08		December 6, 2028
Warrant to underwriters June 2023		31,231		-	$	4.06		June 28, 2028
Warrant series D June 2023		312,309		-	$	3.19		December 28, 2028

(*)

Less than $0.01.

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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Balance, shares at Dec. 31, 2021

SCHEDULE OF GENERAL AND ADMINISTRATIVE EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based compensation	$ 1,394	$ 1,752
General and administrative expenses	4,131	5,545
General and Administrative Expense [Member]
Payroll and related expenses	1,223	1,813
Government fees	58	35
Share-based compensation	988	1,365
Professional services	1,204	1,154
Insurance	442	733
Public and investor relations	148	220
Office and maintenance expenses	95	120
Travel	160	180
Other	94	81
Less – insurance loss recoveries	(281)	(156)
General and administrative expenses	$ 4,131	$ 5,545

Consolidated Statements of Shareholders' Equity - USD ($)
$ in Thousands

Common Stock [Member]

Additional Paid-in Capital [Member]

Retained Earnings [Member]

Total

Balance at Dec. 31, 2021

$ 72

$ 69,902

$ (55,593)

$ 14,381

7,108,133

Issuance of common stock and warrants net of issuance costs

^[1]

$ 8

4,316

4,324

Issuance of common stock and warrants net of issuance costs, shares

^[1]

782,495

Share-based compensation

1,752

Net loss

(13,168)

Balance at Dec. 31, 2022

$ 80

75,970

(68,761)

7,289

Balance, shares at Dec. 31, 2022

7,890,628

Issuance of common stock and warrants net of issuance costs

^[2]

$ 38

6,520

6,558

Issuance of common stock and warrants net of issuance costs, shares

^[2]

3,816,689

Share-based compensation

1,394

Net loss

(10,740)

Balance at Dec. 31, 2023

$ 118

$ 83,884

$ (79,501)

$ 4,501

Balance, shares at Dec. 31, 2023

11,707,317

[1]	Net of issuance costs in the amount of $
[2]	Net of issuance costs in the amount of $

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

+ References + Details

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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Property, Plant and Equipment [Abstract]

SCHEDULE OF RESEARCH AND DEVELOPMENT EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based compensation	$ 1,394	$ 1,752
Research and development expense	5,724	7,736
Research and Development Expense [Member]
Payroll and related expenses	2,455	3,558
Share-based compensation	407	387
Professional services	1,842	2,097
Materials	520	559
Patents	157	341
Rent	213	224
Office and maintenance expenses	55	100
Depreciation	106	102
Other	248	368
Less - grants	(279)
Research and development expense	$ 5,724	$ 7,736

SCHEDULE OF FAIR VALUE MEASUREMENT INPUTS AND VALUATION TECHNIQUES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Marketable Securities [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value	$ 3,917	$ 5,760
Marketable Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value	3,917	5,760
Marketable Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value
Marketable Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value
US Treasury Securities [Member] \| Marketable Securities [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value	2,497	3,761
US Treasury Securities [Member] \| Marketable Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value	2,497	3,761
US Treasury Securities [Member] \| Marketable Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value
US Treasury Securities [Member] \| Marketable Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value
US Treasury Securities [Member] \| Cash Equivalents [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value		1,247
US Treasury Securities [Member] \| Cash Equivalents [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value		1,247
US Treasury Securities [Member] \| Cash Equivalents [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value
US Treasury Securities [Member] \| Cash Equivalents [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value
Money Market Funds [Member] \| Marketable Securities [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value	1,420	1,999
Money Market Funds [Member] \| Marketable Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value	1,420	1,999
Money Market Funds [Member] \| Marketable Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value
Money Market Funds [Member] \| Marketable Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Assets, fair value

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2023

SCHEDULE OF PROPERTY AND EQUIPMENT

	2023		2022
	As of December 31,
	2023		2022
Historical Cost:
Research equipment and software	$	177	$	143
Leasehold improvement		229		229
Furniture and office equipment		233		236
Cost		639		608
Accumulated Depreciation:
Research equipment and software		109		63
Leasehold improvement		181		135
Furniture and office equipment		203		189
Accumulated Depreciation		493		387
Net book value	$	146	$	221

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Prepaid Expenses And Other Current Assets

SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS


	As of December 31,
	2023		2022

Amounts due from government institutions	$	61	$	103
Prepaid expenses and other receivables		91		429
	$	152	$	532

GENERAL

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GENERAL

NOTE 1 – GENERAL

A. Description of business:

Microbot Medical Inc. (the “Company”) is a preclinical medical device company specializing in the research, design and development of next generation robotic endoluminal surgery devices targeting the minimally invasive surgery space. The Company is primarily focused on leveraging its micro-robotic technologies with the goal of redefining surgical robotics while improving surgical outcomes for patients.

The Company incorporated on August 2, 1988 in the State of Delaware under the name Cellular Transplants, Inc. The original Certificate of Incorporation was restated on February 14, 1992 to change the name of the Company to Cyto Therapeutics, Inc. On May 24, 2000, the Certificate of Incorporation as restated was further amended to change the name of the Company to StemCells, Inc.

On November 28, 2016, the Company consummated a transaction pursuant to an Agreement and Plan of Merger, dated August 15, 2016, with Microbot Medical Ltd., a private medical device company organized under the laws of the State of Israel (“Microbot Israel”). On the same day and in connection with the Merger, the Company changed its name from StemCells, Inc. to Microbot Medical Inc. On November 29, 2016, the Company’s common stock began trading on the Nasdaq Capital Market under the symbol “MBOT”.

The Company and its subsidiary are sometimes collectively referred to as the “Company” as the context may require.

B. Risk Factors:

Going Concern

To date, the Company has not generated revenues from its operations. As of December 31, 2023, the Company had cash equivalents and marketable securities balance of approximately $6,385, excluding restricted cash. Due to continuing research and development activities, the Company expects to continue to incur additional losses for the foreseeable future. The Company implemented a cost reduction program in May 2023, and consummated capital raises in May and June 2023 and in January 2024. The Company will seek to raise additional funds through future issuances of either debt and/or equity securities and possibly additional grants from the Israeli Innovation Authority and other government institutions. The Company’s ability to raise additional capital in the equity and debt markets is dependent on a number of factors, including, but not limited to, the market demand for the Company’s stock, which itself is subject to a number of development and business risks and uncertainties, as well as the uncertainty that the Company would be able to raise such additional capital at a price or on terms that are favorable to the Company.

Accordingly, these conditions raise substantial doubt about the Company’s ability to continue as a going concern.

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

B. Risk Factors:

War in Israel

On October 7, 2023, the State of Israel, where the Company’s operations are primarily based, suffered a surprise attack by hostile forces from Gaza, which led to the declaration by Israel of the “Iron Swords” military operation. This military operation and related activities are on-going as of the issuance date of these financial statements.

The Company has considered various ongoing risks relating to the military operation and related matters, including:

	●	That some of the Company’s Israeli subcontractors, vendors, suppliers and other companies in which the Company relies, are currently only partially active, as instructed by the relevant authorities; and

	●	A slowdown in the number of international flights in and out of Israel.

The Company is closely monitoring how the military operation and related activities could adversely affect its anticipated milestones and its Israel-based activities to support future clinical and regulatory milestones, including the Company’s ability to import materials that are required to construct the Company’s devices and to ship them outside of Israel. As of the issuance date of these financial statements, the Company has determined that there have not been any materially adverse effects on its business or operations, but it continues to monitor the situation, as any future escalation or change could result in a material adverse effect on the ability of the Company’s Israeli office to support the Company’s clinical and regulatory activities. The Company does not have any specific contingency plans in the event of any such escalation or change.

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 115,778	$ 113,393
Operating lease liabilities	53	105
Accrued vacation pay	59	71
Legal settlement accrual	464
Advance payment from IIA	17
Total deferred tax assets	116,371	113,569
Less: valuation allowance	(116,014)	(113,455)
Net deferred tax assets	357	114
Operating leases, right-of-use assets	(60)	(114)
Grant receivable (Ministry of Economy)	(5)
Insurance recovery receivable	(280)
Marketable securities	(12)
Total deferred tax liabilities	(357)	(114)
Total net deferred tax assets

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases

SCHEDULE OF STATEMENTS OF COMPREHENSIVE LOSS

The following table presents the components of the Company’s lease cost and the classification of such costs in the Company’s consolidated statements of comprehensive loss for the years ended December 31, 2023 and 2022:

Component of Lease Cost	Statements of Comprehensive Loss Line Item	2023		2022
		For the Years Ended December 31,
Component of Lease Cost	Statements of Comprehensive Loss Line Item	2023		2022
Operating lease cost	Research and development, net	$	279	$	300

SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO OPERATING LEASES

Supplemental cash flow information related to operating leases was as follows:

	2023		2022
	For the Years Ended December 31,
	2023		2022
Cash paid under operating lease agreements	$	283	$	344

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

Undiscounted maturities of future operating lease payments as of December 31, 2023 are summarized as follows:

	As of December 31,
	2023
2024	$	208
2025		48
2026		21
Total future lease payments		277
Less imputed interest		(47	)
Total lease liabilities	$	231

SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES

The following table includes the weighted-average lease terms and discount rates for operating leases as of December 31, 2023 and 2022:

	As of December 31,
	2023			2022

Operating leases weighted average remaining lease term (in years)		0.8			2
Operating leases weighted average discount rate		7	%		9	%

RELATED PARTIES

12 Months Ended

Dec. 31, 2023

RELATED PARTIES

NOTE 14 - RELATED PARTIES

There were no material related party transactions in each of the years ended December 31, 2023 and 2022 that were outside of the Company’s normal course of business.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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General And Administrative Expenses Net

GENERAL AND ADMINISTRATIVE EXPENSES, NET

12 Months Ended

Dec. 31, 2023

GENERAL AND ADMINISTRATIVE EXPENSES, NET

NOTE 13 - GENERAL AND ADMINISTRATIVE EXPENSES, NET

	2023			2022
	For the Years Ended December 31,
	2023			2022
Payroll and related expenses	$	1,223		$	1,813
Government fees		58			35
Share-based compensation		988			1,365
Professional services		1,204			1,154
Insurance		442			733
Public and investor relations		148			220
Office and maintenance expenses		95			120
Travel		160			180
Other		94			81
Less – insurance loss recoveries		(281	)		(156	)
General and administrative expenses	$	4,131		$	5,545

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

Cover	12 Months Ended
Cover	Dec. 31, 2023
Entity Addresses [Line Items]
Document Type	S-1/A
Amendment Flag	true
Amendment Description	Amendment No. 1
Entity Registrant Name	MICROBOT MEDICAL INC.
Entity Central Index Key	0000883975
Entity Tax Identification Number	94-3078125
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	288 Grove Street
Entity Address, Address Line Two	Suite 388
Entity Address, City or Town	Braintree
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02184
City Area Code	(781)
Local Phone Number	875-3605
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	288 Grove Street
Entity Address, Address Line Two	Suite 388
Entity Address, City or Town	Braintree
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02184
City Area Code	(781)
Local Phone Number	875-3605
Contact Personnel Name	Harel Gadot

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
General and Administrative Expense [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Insurance	$ 281,000	$ 156,000
Research and Development Expense [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Government grants	279,000	0
Collateral Lease Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Restricted cash	$ 49	$ 77

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	11,707,317	7,890,628
Common stock, shares outstanding	11,707,317	7,890,628

SCHEDULE OF STATEMENTS OF COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Research And Development Net [Member]
Operating lease cost	$ 279	$ 300

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Research and development, net	$ (5,724)	$ (7,736)
General and administrative, net	(4,131)	(5,545)
Operating loss	(9,855)	(13,281)
Financing income, net	228	118
Loss on disposal of property and equipment	(2)	(5)
Loss on legal settlement, net	(1,111)
Net loss	$ (10,740)	$ (13,168)
Basic net loss per share	$ (1.05)
Diluted net loss per share	$ (1.05)	$ (1.81)
Basic weighted average common shares outstanding	10,199,984	7,260,344
Weighted Average Number of Shares Outstanding, Diluted	10,199,984	7,260,344

SCHEDULE OF ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Employee-related liabilities	$ 725	$ 1,372
Other current liabilities	302	298
Total Accrued Liabilities	$ 1,027	$ 1,670

PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2023

Prepaid Expenses And Other Current Assets

PREPAID EXPENSES AND OTHER CURRENT ASSETS

NOTE 5 – PREPAID EXPENSES AND OTHER CURRENT ASSETS


	As of December 31,
	2023		2022

Amounts due from government institutions	$	61	$	103
Prepaid expenses and other receivables		91		429
	$	152	$	532

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

SCHEDULE OF GRANT DATE FAIR VALUE OF PREFERRED INVESTMENT OPTIONS ISSUED TO INVESTORS (Details)	Dec. 31, 2023	Dec. 31, 2022
Measurement Input, Price Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input		87.96
Measurement Input, Price Volatility [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	101.31
Measurement Input, Price Volatility [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	122.39
Measurement Input, Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input		4.25
Measurement Input, Risk Free Interest Rate [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	3.85
Measurement Input, Risk Free Interest Rate [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	4.93
Measurement Input, Expected Dividend Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input
Measurement Input, Expected Term [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected terms (years)		4 years 11 months 26 days
Measurement Input, Expected Term [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected terms (years)	1 year 5 months 1 day
Measurement Input, Expected Term [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected terms (years)	5 years

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 9 - COMMITMENTS AND CONTINGENCIES

A. Government grants:

Microbot Israel has received grants from the IIA for participation in research and development since 2013 through December 31, 2023 totaling approximately $1,804. This amount includes amounts received in 2023 of approximately $304, which are a portion of an additional grant from the IIA in the amount of approximately NIS 1,620,000 (approximately $447) approved by the IIA on June 1, 2023, to further finance the development of the manufacturing process of the LIBERTY^® Endovascular Robotic Surgical System.

In addition, as a result of the agreement with CardioSert Ltd. (“CardioSert”) on January 4, 2018, Microbot Israel took over the liability to repay CardioSert’s IIA grants in the aggregate amount of approximately $530.

In addition, as a result of the agreement with Nitiloop, on October 6, 2022, Microbot Israel took over the liability to repay Nitiloop’s IIA grants in the aggregate amount of approximately $925.

In relation to the IIA grants described above, the Company is obligated to pay royalties amounting to 3.0%-5% of its future sales of the products relating to such grants.

The grants are linked to the exchange rate of the dollar to the New Israeli Shekel and bears interest of SOFR per year (SOFR is a benchmark interest rate which replaced LIBOR).

The repayment of the grants is contingent upon the successful completion of the Company’s research and development programs and generating sales. The Company has no obligation to repay these grants, if the project fails, is unsuccessful or aborted or if no sales are generated. The financial risk is assumed completely by the Government of Israel. The grants are received from the Government on a project-by-project basis.

On December 11, 2022, the Company received approval for a grant from the Ministry of Economy, in the amount of NIS 300,000 (approximately $83), for participation in expenses related to the LIBERTY^® Endovascular Robotic Surgical System in the U.S. market. As of December 31, 2023, the Company received approximately $27 of such grant. In relation with the Ministry of Economy grant, the Company is obligated to pay royalties amounting to 3% of future sales of the LIBERTY^®Endovascular Robotic Surgical System up to the grant amount plus interest.

B. TRDF agreement:

Microbot Israel signed an agreement with the Technion Research and Development Foundation (“TRDF”) in June 2012 by which TRDF transferred to Microbot Israel a global, exclusive, royalty-bearing license (as amended, the “License Agreement”) with respect to the Company’s Self-Cleaning Shunt (SCS) project and its TipCat assets in addition to certain technology relating to the Company’s LIBERTY^® Endovascular Robotic Surgical System. As partial consideration for the license, Microbot Israel shall pay TRDF royalties on net sales (between 1.5%-3.0%) and on sublicense income as detailed in the License Agreement.

In October 2022 the Company suspended the SCS project and as a result of the Company’s May 2023 implementation of its core-business focus program and cost reduction plan, the Company returned the licensed intellectual property for the TipCat back to TRDF in June 2023, and returned the licensed intellectual property for the SCS (ViRob) back to TRDF in July 2023.

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 9 - COMMITMENTS AND CONTINGENCIES

C. Agreement with CardioSert Ltd.:

On January 4, 2018, Microbot Israel entered into an agreement with CardioSert (the “CardioSert Agreement”) to acquire certain of its patent-protected technology (the “Technology”). Pursuant to the CardioSert Agreement, Microbot Israel made aggregate payments of $300 in cash and 6,738 shares of common stock estimated at $74 to complete the acquisition.

The CardioSert Agreement may be terminated by CardioSert in case the first commercial sale does not occur by the third anniversary of the date of signing of the CardioSert Agreement except if Microbot Israel has invested more than $2,000 in certain development stages, or the first commercial sale does not occur within 50 months. As of December 31, 2023, the 50 months period has expired and CardioSert can buy-back the Technology at any time.

In each of the above termination events, or in case of breach by Microbot Israel, CardioSert shall have the right to buy back the Technology from Microbot Israel for $1.00 (dollar not in thousands), upon 60 days prior written notice, but only 1 year after such termination events. Additionally, the CardioSert Agreement may be terminated by either party upon breach of the other (subject to cure). Until May 2023, Microbot Israel paid CardioSert a monthly consultation fee of NIS 40,000 (or approximately US$11, based on an exchange rate of NIS 3.7 to the dollar) covering up to 60 consulting hours per month, relating to the development of the Technology. As a result of its core-business focus program and its cost reduction plan enacted in May 2023, the Company has terminated the CardioSert Agreement effective as of August 17, 2023 and ceased its research and development and commercialization efforts for, and maintaining, the Technology, which subsequent to the balance sheet date resulted in CardioSert triggering its right to reacquire the Technology for nominal consideration. See Note 16E below.

D. ATM agreement:

On June 10, 2021, the Company entered into an At-the-Market Offering Agreement (the “ATM Agreement”) with H.C. Wainwright & Co. LLC (“Wainwright”), as sales agent, in connection with an “at the market offering” under which the Company may offer and sell, from time to time in its sole discretion, shares of its common stock having an aggregate offering price of up to $10,000 at market prices or as otherwise agreed with Wainwright. To date, we have not sold any shares of common stock pursuant to the ATM Agreement, and as of October 13, 2022, the Company suspended the ATM Agreement, which otherwise remains in full force and effect subject to reactivation.

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 9 - COMMITMENTS AND CONTINGENCIES

E. Engagement letters with H.C. Wainwright:

In connection with registered direct and private placement offerings referred to in Note 10 below, the Company entered into engagement letters (the “Engagement Letters”) with Wainwright on October 3, 2022, on May 16, 2023 and on October 24, 2023, pursuant to which Wainwright agreed to serve as the exclusive placement agent for the issuance and sale of securities of the Company.

As compensation for such placement agent services, the Company has agreed to pay Wainwright an aggregate cash fee equal to 7.0% of the gross proceeds received by the Company from offerings contemplated by the Engagement Letters, plus a management fee equal to 1.0% of the gross proceeds received by the Company from such offerings, as well as other reimbursable expenses. The Company has also agreed to issue to Wainwright or its designees preferred investment options upon the closing of such offerings, equal to five (5.0%) percent of the aggregate number of such shares of common stock in such offerings, including upon exercise for cash of any warrants issued to investors in such offering.

F. Acquisition of Nitiloop’s assets:

On October 6, 2022, Microbot Israel purchased substantially all of the assets, including intellectual property, devices, components and product related materials (the “Assets”), of Nitiloop Ltd., an Israeli limited liability company (“Nitiloop”). The Assets include intellectual property and technology in the field of intraluminal revascularization devices with anchoring mechanism and integrated microcatheter (the “Technology”) and the products or potential products incorporating the Technology owned by Nitiloop and designated by Nitiloop as “NovaCross”, “NovaCross Xtreme” and “NovaCross BTK” and any enhancements, modifications and improvements thereof (“Devices”). Microbot Israel did not assume any material liabilities of Nitiloop other than obligations Nitiloop has to the IIA and relating to certain renewal/maintenance fees for a European patent application.

In consideration for the acquisition of the Assets, Microbot Israel shall pay royalties to Nitiloop, which shall not, in the aggregate, exceed $8,000, as follows:

	●	Royalties at a rate of 3% of net revenue generated as a result of sales, license or other exploitation of the Devices; and
	●	Royalties at a rate of 1.5% of net revenue generated from the sale, license or other exploitation of commercialization of the technology as part of an integrated product.

Based on the Company’s analysis, the Company concluded that the acquisition of the assets does not meet the definition of a business for the purpose of applying SEC Rules (S-X Rules of 3-05, 8-04 and 11-01).

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 9 - COMMITMENTS AND CONTINGENCIES

G. Litigation resulting from the 2017 financing:

The Company was named as the defendant in a lawsuit captioned Empery Asset Master Ltd., Empery Tax Efficient, LP, Empery Tax Efficient II, LP, Hudson Bay Master Fund Ltd., (the “Plaintiffs”), against Microbot Medical Inc., Defendant, in the Supreme Court of the State of New York, County of New York (Index No. 651182/2020) (the “Lawsuit”). The complaint alleged, among other things, that the Company breached multiple representations and warranties contained in the Securities Purchase Agreement (the “SPA”) related to the Company’s June 8, 2017 equity financing (the “2017 Financing”), of which the Plaintiffs participated, and fraudulently induced Plaintiffs into signing the SPA. The complaint sought rescission of the SPA and return of the Plaintiffs’ $6,750 purchase price with respect to the 2017 Financing.

The Lawsuit was settled in January 2024. Refer to Note 16C below.

H. Mona litigation:

On April 28, 2019, the Company brought an action against Alliance Investment Management, Ltd. (“Alliance”), later amended to add Joseph Mona (“Mona”) as a defendant, in the Southern District of New York under Section 16(b) of the Securities Exchange Act of 1934 (the “Exchange Act”), to compel Alliance and/or Mona to disgorge short swing profits realized from purchases and sales of the Company’s securities within a period of less than six months. The amount of profits was estimated in the complaint to be approximately $468.

On March 31, 2021, the Court entered a judgment against Mona and in favor of the Company in the amount of approximately $485. Collection of the judgment was deferred pending resolution of Mona’s counterclaim.

On August 4, 2023, the Magistrate Judge issued a Report & Recommendation, which recommended that the District Court dismiss Mona’s Section 10(b) counterclaim in the entirety. On August 22, 2023, the District Court adopted the Report and Recommendation in full and dismissed the Section 10(b) counterclaim in its entirety. The time for appeal has expired and the Company is proceeding with collection efforts for the $485 judgment against Mona (the “Judgment”).

The Court has permitted the Company’s ongoing execution efforts to continue notwithstanding Mona’s purported appeal of the Court’s denial of his motion to vacate. On March 15, 2024, the Magistrate Judge issued an Order to Show Cause (“OTSC”) directing the liquidation of certain of Mona’s accounts, and the transfer of the sale proceeds to the Company in partial satisfaction of the Judgment. The OTSC hearing is scheduled to be held in the second quarter of 2024.

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

SHARE CAPITAL (Details Narrative) - USD ($)

12 Months Ended

Oct. 25, 2023

Jun. 28, 2023

Jun. 26, 2023

Jun. 16, 2023

Jun. 02, 2023

May 23, 2023

May 22, 2023

Oct. 21, 2022

Oct. 03, 2022

Dec. 31, 2023

Dec. 31, 2022

Feb. 13, 2023

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common stock, shares issued

11,707,317

7,890,628

Common stock, shares outstanding

11,707,317

7,890,628

Aggregate intrinsic value of outstanding options

$ 0.0001

Warrants exercise price

$ 0.0001

Fair value of warrants

$ 68,000

$ 58,000

$ 72,000

$ 46,000

$ 138,000

$ 1,230

Warrants outstanding

240,000

277,000

$ 185,000

Aggregate intrinsic value of exercisable options

$ 102,000

$ 185,000

Weighted average grant date fair value of options granted

$ 1.40

$ 4.5

Unrecognized compensation costs, net of expected forfeitures

$ 1,918,000

Unrecognized compensation weighted average period

2 years 4 months 24 days

Series B Preferred Investment Options [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Expiry date

Oct. 25, 2027

Options exercise price per share

$ 2.20

H.C. Wainwright & Co. LLC [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Prefunded warrants exercisable

$ 6.11

51,125

Professional Fees

$ 565,000

Deferred offering costs

$ 111,000

Warrants outstanding term

5 years

Series A Warrant [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

1,022,495

Series B Warrant [Member]

$ 4.64

Accumulated Other Comprehensive Income (Loss) [Line Items]

1,022,495

Accumulated Other Comprehensive Income (Loss) [Line Items]

$ 4.64

Common Stock [Member]

Common Stock [Member] | Mr. Harel Gadot [Member]

3,816,689

^[1]

782,495

^[2]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of stock options granted

260,000

Stock option vested term

3 years

Common Stock [Member] | Mr. Harel Gadot [Member] | Minimum [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common Stock [Member] | Mr. Harel Gadot [Member] | Maximum [Member]

$ 3.73

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common Stock [Member] | Employees Consultants and Directors [Member]

$ 6.48

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of stock options granted

631,308

270,822

Stock option vested term

3 years

Common Stock [Member] | Employees Consultants and Directors [Member] | Minimum [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common Stock [Member] | Employees Consultants and Directors [Member] | Maximum [Member]

$ 1.16

$ 3.73

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common Stock [Member] | Chief Executive Officer [Member]

$ 3.48

$ 6.48

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of stock options granted

80,000

Common Stock [Member] | Series B Preferred Investment Options [Member]

$ 2.43

Stock option vested term

3 years

Accumulated Other Comprehensive Income (Loss) [Line Items]

Cashless exercise of shares

385,246

Common Stock [Member] | Private Placement [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

35,088

Common Stock [Member] | Series D Preferred Investment Options [Member]

$ 2.6719

Deferred offering costs

281,000

$ 227,000

345,000

222,000

Private placement

$ 2,030,000

$ 1,500,000

$ 2,661,000

$ 1,442,000

Accumulated Other Comprehensive Income (Loss) [Line Items]

312,309

60,476

32,778

Common Stock [Member] | Series C Preferred Investment Options [Member]

$ 3.19

$ 2.1999

Accumulated Other Comprehensive Income (Loss) [Line Items]

350,878

Common Stock [Member] | Series A Preferred Investment Options [Member]

$ 2.075

Accumulated Other Comprehensive Income (Loss) [Line Items]

1,022,495

Common Stock [Member] | Series B Preferred Investment Options [Member]

$ 4.64

Expiry date

Oct. 25, 2027

Accumulated Other Comprehensive Income (Loss) [Line Items]

1,022,495

Purchase Agreement [Member]

$ 4.64

Expiry date

Oct. 25, 2024

Accumulated Other Comprehensive Income (Loss) [Line Items]

782,495

Purchase Agreement [Member] | Investor [Member]

$ 4.89

Accumulated Other Comprehensive Income (Loss) [Line Items]

Prefunded warrants exercisable

$ 4.8899

240,000

Proceeds from warrants offerings

$ 5,000,000

Securities Purchase Agreement [Member] | Common Stock [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Prefunded warrants exercisable

624,618

701,756

975,000

234,500

Securities Purchase Agreement [Member] | Common Stock [Member] | Private Placement [Member]

$ 3.25

$ 2.1375

$ 2.20

$ 2.75

$ 0.0001

Accumulated Other Comprehensive Income (Loss) [Line Items]

655,569

Securities Purchase Agreement [Member] | Common Stock [Member] | H.C. Wainwright & Co. LLC [Member]

$ 2.20

Accumulated Other Comprehensive Income (Loss) [Line Items]

31,231

Securities Purchase Agreement [Member] | Common Stock [Member] | Wainwright [Member]

$ 4.0625

Accumulated Other Comprehensive Income (Loss) [Line Items]

Cash and Cash Equivalents [Abstract]

$ 2.75

[1]	Net of issuance costs in the amount of $
[2]	Net of issuance costs in the amount of $

TAXES ON INCOME (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
US Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Corporate income tax rate	21.00%	21.00%
Net operating loss carryforwards	$ 506,317	$ 502,053
Israel Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Corporate income tax rate	23.00%	23.00%
Net operating loss carryforwards	$ 41,164	$ 34,688

CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES (Tables)

12 Months Ended

Dec. 31, 2023

SCHEDULE OF CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES

The following table sets forth our cash, cash equivalents and marketable securities as of December 31, 2023 and 2022:


	As of December 31,
	2023		2022
Cash and cash equivalents:
Cash	$	2,468	$	1,195
U.S. treasury securities		-		1,247
Total cash and cash equivalents	$	2,468	$	2,442

Marketable securities:
Money market mutual funds	$	1,420	$	1,999
U.S. treasury securities		2,497		3,761
Total marketable securities	$	3,917	$	5,760

Total cash, cash equivalents and marketable securities	$	6,385	$	8,202

GENERAL (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
GENERAL (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Date of incorporation	Aug. 02, 1988
Cash equivalents and marketable securities	$ 6,385	$ 8,202

LEASES

12 Months Ended

Dec. 31, 2023

Leases

LEASES

NOTE 6 - LEASES

In November 2019, the Company signed an office space lease agreement for the period from November 2019 until October 2024. In addition, the Company received an option to extend the lease agreement for an additional 5 years. The monthly lease payments are approximately $16. To secure the lease payments the Company had issued a bank guarantee of $49 in favor of the facility’s lessor. Additionally, the Company entered into agreements for car leases.

Component of Lease Cost	Statements of Comprehensive Loss Line Item	2023		2022
		For the Years Ended December 31,
Component of Lease Cost	Statements of Comprehensive Loss Line Item	2023		2022
Operating lease cost	Research and development, net	$	279	$	300

Supplemental cash flow information related to operating leases was as follows:

	2023		2022
	For the Years Ended December 31,
	2023		2022
Cash paid under operating lease agreements	$	283	$	344

Undiscounted maturities of future operating lease payments as of December 31, 2023 are summarized as follows:

	As of December 31,
	2023
2024	$	208
2025		48
2026		21
Total future lease payments		277
Less imputed interest		(47	)
Total lease liabilities	$	231

The following table includes the weighted-average lease terms and discount rates for operating leases as of December 31, 2023 and 2022:

	As of December 31,
	2023			2022

Operating leases weighted average remaining lease term (in years)		0.8			2
Operating leases weighted average discount rate		7	%		9	%

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

NOTE 7 - PROPERTY AND EQUIPMENT, NET

SCHEDULE OF PROPERTY AND EQUIPMENT

	2023		2022
	As of December 31,
	2023		2022
Historical Cost:
Research equipment and software	$	177	$	143
Leasehold improvement		229		229
Furniture and office equipment		233		236
Cost		639		608
Accumulated Depreciation:
Research equipment and software		109		63
Leasehold improvement		181		135
Furniture and office equipment		203		189
Accumulated Depreciation		493		387
Net book value	$	146	$	221

TAXES ON INCOME

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

TAXES ON INCOME

NOTE 15 - TAXES ON INCOME

The Company is subject to U.S. federal tax rate of 21% for the years ended December 31, 2023 and 2022.

The Company has not been audited by the Internal Revenue Service since its incorporation.

As of December 31, 2023 and 2022, the Company has generated accumulated net operating losses in the U.S. of approximately $506,317 and $502,053, respectively. Net operating losses in the United States are available through 2035. Utilization of U.S. net operating losses may be subject to substantial annual limitation due to the “change in ownership” provisions of the Internal Revenue Code of 1986 and similar state provisions. The annual limitation may result in the expiration of net operating losses before utilization.

Microbot Israel is subject to Israeli corporate tax rate of 23% for the years ended 2023 and 2022. Microbot Israel has not received a final tax assessment since 2018.

As of December 31, 2023 and 2022, Microbot Israel has generated accumulated net operating losses in Israel of approximately $41,164 and $34,688, respectively, which may be carried forward and offset against taxable income in the future for an indefinite period.

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

NOTE 15 - TAXES ON INCOME

The Company is still in its development stage and has not yet generated revenues, therefore, it is more likely than not that sufficient taxable income will not be available for the tax losses to be utilized in the future. Therefore, a valuation allowance was recorded to reduce the deferred tax assets to its recoverable amounts.

	2023			2022
	As of December 31,
	2023			2022

Net operating loss carryforwards	$	115,778		$	113,393
Operating lease liabilities		53			105
Accrued vacation pay		59			71
Legal settlement accrual		464			-
Advance payment from IIA		17			-
Total deferred tax assets		116,371			113,569
Less: valuation allowance		(116,014	)		(113,455	)
Net deferred tax assets		357			114

Operating leases, right-of-use assets		(60	)		(114	)
Grant receivable (Ministry of Economy)		(5	)		-
Insurance recovery receivable		(280	)		-
Marketable securities		(12	)		-
Total deferred tax liabilities		(357	)		(114	)
Total net deferred tax assets	$	-		$	-

Reconciliation of Income Taxes:

The main reconciling item between the statutory tax rate of the Company and the effective tax rate is the recognition of valuation allowance in respect of deferred taxes relating to accumulated net operating losses carried forward due to the uncertainty of the realization of such deferred taxes.

MICROBOT MEDICAL INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands

(Except share and per share data)

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2