0001493152-24-019535 | 10-Q | XBRL Viewer

Common stock, shares issued

14,398,964

11,707,317

Common stock, shares outstanding

14,398,964

11,707,317

Existing investment options

$ 2,730,000

Agent fees and other offering expenses

$ 333,000

Annual bonus

$ 99

Chief Executive Officer Executives and Employees [Member]

$ 1.2684

Chief Executive Officer and Other Executives [Member]

130,000

1.25

$ 1.25

Chief Executive Officer Employees and Advisors [Member]

132,500

1.2684

$ 1.2684

Chief Executive Officer [Member]

195,000

Stock option vested term

3 years

$ 1.25

79,567

Compensation percentage

25.00%

Common Stock [Member]

Common Stock [Member] | Litigation Settlement [Member]

^[1]

1,685,682

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

1,005,965

1,022,495

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

$ 2.20

350,878

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

$ 2.075

312,309

Existing Preferred Investment Options [Member] | Common Stock [Member]

$ 3.19

1,685,682

Inducement Investment Options [Member] | Common Stock [Member]

$ 1.62

1,685,682

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

$ 1.50

84,284

Balances at Dec. 31, 2022

$ 2.025

[1]	Net of issuance costs in the amount of $333.

Interim Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,162	$ 2,468
Marketable securities	5,187	3,917
Restricted cash	48	49
Insurance recovery receivable related to legal settlement and legal expenses		1,335
Prepaid expenses and other current assets	603	152
Total current assets	7,000	7,921
Property and equipment, net	132	146
Operating right-of-use assets	235	260
Total assets	7,367	8,327
Current liabilities:
Accounts payable	96	357
Lease liabilities	191	191
Legal settlement accrual		2,211
Accrued liabilities	896	1,027
Total current liabilities	1,183	3,786
Non-current liabilities:
Long-term lease liabilities	17	40
Total liabilities	1,200	3,826
Shareholders’ equity:
Common stock; $0.01 par value; 60,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 14,398,964 and 11,707,317 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively.	145	118
Additional paid-in capital	87,894	83,884
Accumulated deficit	(81,872)	(79,501)
Total shareholders’ equity	6,167	4,501
Total liabilities and shareholders’ equity	$ 7,367	$ 8,327

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

Common Stock [Member]

Additional Paid-in Capital [Member]

Retained Earnings [Member]

Total

$ 80

$ 75,970

$ (68,761)

$ 7,289

Balance, shares at Dec. 31, 2022

7,890,628

Issuance of common stock upon exercise of warrants

$ 3

(3)

Issuance of common stock upon exercise of warrants, shares

240,000

Share-based compensation

412

Net loss

(2,853)

Balances at Mar. 31, 2023

$ 83

76,379

(71,614)

4,848

Balance, shares at Mar. 31, 2023

8,130,628

Balances at Dec. 31, 2023

$ 118

83,884

(79,501)

4,501

Balance, shares at Dec. 31, 2023

11,707,317

Share-based compensation

529

Net loss

(2,371)

Issuance of common stock and warrants net of issuance costs ()

^[1]

$ 17

2,380

2,397

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

^[1]

1,685,682

Issuance of common stock relating to settlement agreement ()

^[2]

$ 10

1,101

1,111

Issuance of common stock relating to settlement agreement, shares

^[2]

1,005,965

Balances at Mar. 31, 2024

$ 145

$ 87,894

$ (81,872)

$ 6,167

Balance, shares at Mar. 31, 2024

14,398,964

[1]	Net of issuance costs in the amount of $333.
[2]	See Note 3G.

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2024	May 14, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	000-19871
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
Title of 12(b) Security	Common Stock
Trading Symbol	MBOT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		14,398,964

COMMITMENTS AND CONTINGENCIES (Details Narrative)
$ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Feb. 24, 2024

USD ($)

Jan. 26, 2024

USD ($)

Oct. 06, 2022

USD ($)

Oct. 03, 2022

Mar. 31, 2021

USD ($)

Apr. 28, 2019

USD ($)

Jan. 04, 2018

USD ($)

Jun. 30, 2012

Mar. 31, 2024

USD ($)

Dec. 31, 2023

USD ($)

Mar. 31, 2024

ILS (₪)

Feb. 24, 2024

ILS (₪)

Dec. 11, 2022

USD ($)

Dec. 11, 2022

ILS (₪)

Jun. 10, 2021

USD ($)

Gross proceeds from cash fee percentage

3.00%

7.00%

Gross proceeds from management fee percentage

1.00%

Stock issued during period, value, new issues

^[1]

$ 2,397

Litigation settlement amount

$ 2,154

Settlement agreement liability

$ 2,211

Insurance recoverable

1,335

Settlement amount recovery

1,100

Legal expense

235

Non operating loss on legal settlement

$ 1,111

Joseph Mona [Member]

Purchase price of plaintiffs

$ 485

Chief Executive Officer [Member]

Other Executives [Member]

Contigent bonus

$ 298

Contigent description

The first 50% of the CEO’s contingent bonus ($149) is payable upon the Company raising at least $3,000 in new funds by June 30, 2024. The remaining 50% ($149), payable upon the Company raising at least $6,000 in new funds by September 30, 2024 (cumulative, so if $3,000 is not raised by June 30, 2024 but the full $6,000 is raised by September 30, 2024, the full amount is payable).

Contigent bonus

$ 60

₪ 230,736

Contigent description

which is payable upon the Company raising at least $3,000 in new funds by September 30, 2024.

Common Stock [Member]

Stock issued during period, value, new issues

^[1]

$ 17

Number of share issued | shares

^[1]

1,685,682

Device [Member]

Integrated Product [Member]

Royalties percentage

3.00%

Securities Purchase Agreement [Member]

Royalties percentage

1.50%

Purchase price of plaintiffs

$ 6,750

Litigation Settlement [Member]

Payment for litigation settlement

$ 1,100

1,100

Restricted common shares issued for legal settlement | shares

1,005,965

Insurance recovery amount

$ 1,335

Litigation Settlement [Member] | Common Stock [Member]

Number of share issued | shares

1,005,965

Israeli Innovation Authority [Member]

Additional grant receivable

Grants receivable

$ 74

$ 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

Israeli Innovation Authority [Member] | Nitiloop [Member]

Repayment of government grants

$ 925

Ministry Of Economy [Member]

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

Grants receivable

$ 50

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

1.50%

CardioSert Ltd [Member] | Technology [Member]

3.00%

Payment to acquire intangible assets

$ 300

Number of common shares issued for acquisition | shares

6,738

Number of common shares issued for acquisition, value

$ 74

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

Warrant issued, descriptions

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

$ 8,000

Alliance Investment Management, Ltd. [Member]

2013 through March 31, 2024 [Member] | Israeli Innovation Authority [Member]

Litigation settlement

$ 468