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A part of the raw materials and work in progress are expected to be sold in a period longer than the operating cycle of the Company.
Nano Dimension IP Ltd. and Nano Dimension (HK) Limited were incorporated by the Company in 2018. Nano Dimension IP Ltd. had no material activity until and during 2020.
Following the approval of its shareholders on April 16, 2020, the Board of Directors of the Company approved a 1-for-50 reverse split of the Company’s share capital. The implementation of the reverse split resulted in a reduction in the issued and outstanding ordinary shares, and the increase of the par value per ordinary share from NIS 0.10 to NIS 5.00 per ordinary share. Concurrently with the reverse split, the Company effected a corresponding change in the ratio of ordinary shares to each of the Company’s ADSs, such that its ratio of ADSs to ordinary shares has changed from one (1) ADS representing fifty (50) ordinary shares to a new ratio of one (1) ADS representing one (1) ordinary share. The effective date of this reverse split was June 29, 2020. All options and warrants of the Company outstanding immediately prior to the reverse split were appropriately adjusted by dividing the number of ordinary shares into which the options and warrants are exercisable by 50 and multiplying the exercise price thereof by 50, as a result of the reverse split. All the figures in these financial statements relating to share capital were appropriately adjusted to reflect the above-mentioned reverse split.
The Company combined all revenues into the Europe and Israel geography, due to immateriality of the amounts.
Reclassified.
See Note 11.B regarding financing transactions that included issuance of financial instruments accounted at fair value through profit and loss.
All the figures in this note were adjusted to reflect the 1:50 reverse split effective June 29, 2020, see note 11.A.
Includes share-based payment expenses of $16,666,000, see note 17.B regarding warrants issued to the CEO.
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2283000
13243000
-15488000
-8353000
-48494000
-8.40
-2.38
-1.13
6441000
65202000
-1509000
1431000
-59963000
-48494000
-48494000
244511000
405604000
650115000
6273000
1450000
7723000
46170000
46170000
257225000
518426000
-1509000
1431000
-108457000
3291000
63969000
-1509000
1431000
-51610000
15572000
-8353000
-8353000
2216000
-633000
1583000
934000
1421000
2355000
445000
445000
2307000
52059000
-1509000
1431000
-36122000
18166000
-15488000
-15488000
981000
11490000
12471000
3000
-3000
423000
423000
1943000
2666000
2658000
-412000
-2035000
60000
8707000
-12825000
-537000
-18000
402000
439000
20501000
3294000
-3549000
35924000
-1410000
-442000
229000
13000
-556000
-1219000
-503000
1103000
287000
718000
2247000
1134000
-555000
-99000
-58000
-1253000
-782000
2924000
-13447000
-12684000
-9646000
-85500000
152000
86000
-40000
-60000
1319000
601000
1359000
1000
4000
-1232000
-641000
-86763000
12471000
14367000
676133000
282000
2837000
1095000
1118000
-9000
113000
126000
12480000
13441000
677726000
-2199000
116000
581317000
6103000
3753000
3894000
-151000
25000
127000
585338000
9000
25000
2073000
4886000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 1</font> – <font style="text-decoration:underline">General</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Reporting
Entity</font></font></td>
</tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Nano Dimension Ltd. (the “Company”)
is an Israeli resident company incorporated in Israel. The address of the Company’s registered office is 2 Ilan Ramon St.,
Ness Ziona, Israel. The consolidated financial statements of the Company as of December 31, 2020, comprise the Company and its
subsidiaries in Israel, in the United States, and in Hong Kong (together referred to as the “Group”). The Company engages,
by means of the subsidiary Nano Dimension Technologies Ltd. (“Nano-Technologies”), in the development of a three-dimensional
(“3D”) additive manufacturing system and nanotechnology based conductive and dielectric inks, which are supplementary
products to the additive manufacturing system. Since March 2016, the Company’s American Depositary Shares (“ADSs”)
have been trading on the Nasdaq Capital Market.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Ordinary Shares of the Company
were registered for trade on the Tel Aviv Stock Exchange (TASE).</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.25pt; text-align: justify">On May 20, 2020, the Company
voluntary delisted its Ordinary Shares from the TASE.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since August 25, 2014, the Company has devoted substantially all of its financial resources to develop its products and has financed its operations primarily through the issuance of equity securities. The amount of the Company’s future net profits or losses will depend, in part, on the rate of its future expenditures, its ability to generate significant revenues from the sale of its products, and its ability to obtain funding through the issuance of securities, strategic collaborations or grants. Starting in the fourth quarter of 2017, the Group began to commercialize its products and has generated revenues, mainly from sales of its 3D printers. The Group’s ability to generate revenue and achieve profitability depends on its ability to successfully commercialize its products.</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Equity Offerings</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During 2020, the Company conducted
several public offerings in the United States, with aggregate gross proceeds of approximately $710,000,000, before deducting underwriting
discounts and commissions and other offering-related expenses. After the reporting period, the Company conducted additional public
offerings in the United States, with aggregate gross proceeds of $833,000,000, before deducting underwriting discounts and commissions
and other offering-related expenses.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline;text-decoration: none">D.</font></font></td>
<td style="font-size: 10pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Effect of the coronavirus pandemic on the Group's business</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Following the outbreak of the
coronavirus (COVID-19) in China in December 2019, and it reaching many other countries as well at the beginning of 2020, there
was a decrease in economic activity in many areas around the world, including Israel, the U.S., Europe and Asia-Pacific. The spread
of the virus has led, inter alia, to a decrease in global transportation, restrictions on travel and work that were announced by
the State of Israel and other countries around the world. As a result of the COVID-19 pandemic’s global effects, many entities
held off on capital expenses; thus, the Company witnessed a significant decrease in the Group's revenues during 2020.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Since this event is not under the control of the Group, the
Group is continuing to regularly follow the changes on the markets in Israel and the world and is examining the mid- and long-term effects on the business results of the Group.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E.</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">The Operating Cycle</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The operating cycle period
of the Group is 12 months.</p><br/>
710000000
833000000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 2</font> – <font style="text-decoration:underline">Summary of Significant
Accounting Policies</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The accounting policies of
the Group set out below have been applied consistently for all periods presented in these consolidated financial statements, and
have been applied consistently by Group entities, except for the change in accounting policy from January 1, 2019 as described
in note 2.O below.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Basis for presentation of the financial statements</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The consolidated financial
statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International
Accounting Standards Board. </p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The consolidated financial
statements have been prepared on the historical cost basis, except when otherwise indicated.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The consolidated financial statements
were authorized for issuance by the Company’s board of directors on March 10, 2021.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Use of estimates and judgments</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The preparation of financial statements in conformity with IFRS
as issued by the International Accounting Standards Board requires management to make judgments, estimates and assumptions that
affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results
may differ from these estimates.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The preparation of accounting
estimates used in the preparation of the Group’s financial statements requires management of the Company to make assumptions
regarding circumstances and events that involve considerable uncertainty. Management of the Company prepares the estimates on the
basis of past experiences, various facts, external circumstances, and reasonable assumptions according to the pertinent circumstances
of each estimate. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognized in the period in which the estimates are revised and in any future periods affected.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Below is information about significant
assumptions made by the Group with respect to estimates and judgments:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; text-align: justify"> </td>
<td style="width: 24px; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">- </font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Fair value measurement of financial instruments</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company accounts for financial
liabilities relating to convertible notes, warrants and related derivatives at fair value through profit or loss. The fair values
of these instruments are determined by using the Monte Carlo simulation method and the Black-Scholes model and assumptions regarding
unobservable inputs used in the valuation model including the probability of meeting revenue targets, and weighted average cost
of capital, all of which can lead to profit or loss from a change in the fair value of these instruments.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">For information on details regarding
fair value measurement at Level 2 and sensitivity analysis see Note 18.D regarding financial instruments.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; text-align: left; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </font></td>
<td style="width: 24px; font-size: 10pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">- </font></td>
<td style="font-size: 10pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Share-based payment transactions</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Estimating fair value for share-based
payment transactions requires determination of the most appropriate valuation model, which depends on the terms and conditions
of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model, including the expected
life of the share option and volatility and making assumptions about them. For the measurement of the fair value of equity-settled
transactions at the grant date, the Company uses the Black-Scholes formula or the Binomial pricing model.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 24px; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Basis
of consolidation Subsidiaries</font></font></td>
</tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A subsidiary is an entity controlled
by the Company. The Company controls an entity when it is exposed to, or has rights to, variable returns from its involvement
with the entity and has the ability to affect those returns through its power over the entity. The financial statements of the
subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control
is lost. The accounting policies of the subsidiaries are aligned with the policies adopted by the Group.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">D.</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><font style="text-decoration:underline">Functional currency and presentation currency</font></font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">(1)</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><font style="text-decoration:underline">Functional and presentation currency</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">These consolidated financial
statements are presented in U.S. dollars (“USD”), which is the Company’s functional currency, and have been rounded
to the nearest thousands, except when otherwise indicated. The USD is the currency that represents the principal economic environment
in which the Company operates.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Foreign currency transactions</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Transactions in currencies other
than the U.S. dollar are translated to the functional currency of the Group at exchange rates at the dates of the transactions.
Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency
at the exchange rate at that date. The foreign currency gain or loss on monetary items is the difference between amortized cost
in the functional currency at the beginning of the year, adjusted for effective interest and payments during the year, and the
amortized cost in foreign currency translated at the exchange rate at the end of the year.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Non-monetary items that are
measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Foreign currency differences
arising on translation are recognized in profit or loss.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Index linked financial items</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financial assets and liabilities
which according to their terms are linked to changes in the Israeli Consumer Price Index (the “Index”) are adjusted
according to the relevant Index on every reporting date in accordance with the terms of the agreement. Linkage differences deriving
from said adjustment are recorded to profit and loss.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Below are details regarding the exchange rate of the New Israeli Shekel (“NIS”) and the Euro and the Index of the NIS:</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Consumer Price Index</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Euro</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">NIS</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%">December 31, 2020</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">101.1</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.22</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">0.31</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>December 31, 2019</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">101.8</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1.12</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.29</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>December 31, 2018</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">101.2</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1.14</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.27</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Change in percentages:</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Year ended December 31, 2020</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(0.69</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(9.32</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(2</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td>Year ended December 31, 2019</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.6</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(2</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">8.45</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Year ended December 31, 2018</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.8</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(4.4</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(7.5</td><td style="text-align: left"> </td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E.</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Financial instruments</font></font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 24px; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Non-derivative
financial assets</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Initial recognition and measurement
of financial assets</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group initially recognizes
trade receivables on the date that they are created. All other financial assets are recognized initially on the trade date at which
the Group becomes a party to the contractual provisions of the instrument. A financial asset is initially measured at fair value
plus transaction costs that are directly attributable to the acquisition or issuance of the financial asset. A trade receivable
without a significant financing component is initially measured at the transaction price. Receivables originating from contract
assets are initially measured at the carrying amount of the contract assets on the date classification was changed from contract
asset to receivables.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Derecognition of financial
assets</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financial assets are derecognized
when the contractual rights of the Group to the cash flows from the asset expire, or the Group transfers the rights to receive
the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership
of the financial asset were transferred. When the Group retains substantially all of the risks and rewards of ownership of the
financial asset, it continues to recognize the financial asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Classification of financial
assets into categories and the accounting treatment of each category</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financial assets are classified
at initial recognition to one of the following measurement categories: amortized cost; fair value through other comprehensive
income – investments in debt instruments; fair value through other comprehensive income – investments in equity instruments;
or fair value through profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group does not expect to
incur any credit loss, thus the financial statements do not include provision for expected credit loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">All financial assets not classified
as measured at amortized cost or fair value through other comprehensive income as described above, as well as financial assets
designated at fair value through profit or loss, are measured at fair value through profit or loss. On initial recognition, the
Group designates financial assets at fair value through profit or loss if doing so eliminates or significantly reduces an accounting
mismatch that would otherwise arise.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group has balances of
cash, trade and other receivables and deposits that are held within a business model whose objective is collecting
contractual cash flows. The contractual cash flows of these financial assets represent solely payments of principal and
interest that reflect consideration for the time value of money and the credit risk. Accordingly, these financial assets are
measured at amortized cost.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Cash includes cash balances
available for immediate use. Deposits include short-term deposits with banking corporations (with original maturities of three
months or more) that are readily convertible into known amounts of cash and are exposed to insignificant risks of change in value.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; font-size: 10pt"> </td>
<td style="width: 24px; text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</font></td>
<td style="font-size: 10pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Non-derivative financial liabilities</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Non-derivative financial liabilities
include trade and other payables.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Initial recognition of financial
liabilities</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group initially recognizes
financial liabilities on the trade date at which the Group becomes a party to the contractual provisions of the instrument.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Subsequent measurement of
financial liabilities</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financial liabilities are recognized
initially at fair value less any directly attributable transaction costs. Subsequent to initial recognition these financial liabilities
are measured at amortized cost using the effective interest method. Transaction costs directly attributable to an expected issuance
of an instrument that will be classified as a financial liability are recognized as an asset in the framework of deferred expenses
in the statement of financial position. These transaction costs are deducted from the financial liability upon its initial recognition,
or are amortized as financing expenses in the statement of profit or loss and other comprehensive income when the issuance is no
longer expected to occur.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Derecognition of financial
liabilities</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financial liabilities are derecognized
when the obligation of the Group, as specified in the agreement, expires or when it is discharged or cancelled.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="text-decoration:underline">Offset of financial
instruments</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financial assets and liabilities
are offset and the net amount presented in the statement of financial position when, and only when, the Company currently has a
legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability
simultaneously.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Measurement of derivative
financial instruments</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Derivatives are recognized
initially at fair value attributable transaction costs are recognized in profit or loss as incurred. <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent
to initial recognition, derivatives are measured at fair value, and changes therein are recognized in profit or loss, as financing
income or expense.</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; font-size: 10pt"><font style="font-size: 10pt">F.</font></td>
<td style="font-size: 10pt; text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Property plant and equipment</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Property plant and equipment
are presented according to cost, including directly attributed acquisition costs, minus accumulated depreciation and losses from
accrued decrease in value. Improvements and upgrades are included in the assets’ costs whereas maintenance and repair costs
are recognized in profit and loss as accrued.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Gains and losses on disposal
of a fixed asset item are determined by comparing the net proceeds from disposal with the carrying amount of the asset, and are
recognized in their corresponding section, in profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The cost of printers used for
internal purposes, which are classified as property, plant and equipment, includes the cost of materials and direct labor, and
any other costs directly attributable to bringing the assets to a working condition for their intended use.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The depreciation is calculated
in equal yearly rates during the period of the useful life span of the assets, as follows:</p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td><b> </b></td>
<td style="padding-bottom: 1.5pt"><b> </b></td>
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 88%"><font style="font-size: 10pt">Machinery and equipment (mainly 7%)</font></td>
<td style="width: 1%"> </td>
<td style="width: 11%; text-align: center"><font style="font-size: 10pt">7 – 25</font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Computers</font></td>
<td> </td>
<td style="text-align: center"><font style="font-size: 10pt">20 – 33</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Office furniture and equipment</font></td>
<td> </td>
<td style="text-align: center"><font style="font-size: 10pt">7 – 15</font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Leasehold Improvements</font></td>
<td> </td>
<td style="text-align: center"><font style="font-size: 10pt">7 – 10</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Printers leased to customers</font></td>
<td> </td>
<td style="text-align: center"><font style="font-size: 10pt">25</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Depreciation methods, useful
lives and residual values are reviewed at the end of each reporting year and adjusted if appropriate.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">G.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Inventory</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Inventories are measured at
the lower of cost and net realizable value. The cost of inventories is based on the weighted averages method, and includes expenditure
incurred in acquiring the inventories and the costs incurred in bringing them to their existing location and condition. In the
case of manufactured inventories and work in progress, cost includes an appropriate share of production overheads based on normal
operating capacity. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated
costs of completion and selling expenses.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">H.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Impairment of non-financial assets</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The carrying amounts of the
Group’s non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment.
If any such indication exists, then the asset’s recoverable amount is estimated.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The recoverable amount of an
asset is the greater of its value in use and its fair value, minus the costs of disposal. In assessing value in use, the estimated
future cash flows are discounted to their present value using a pre-tax discount rate that reflects the assessments of market participants
regarding the time value of money and the risks specific to the asset, for which the estimated future cash flows from the asset
were not adjusted.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">An impairment loss is recognized
if the carrying amount of an asset exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">I.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Provisions</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A provision for claims is recognized
if, as a result of a past event, the Group has a present legal or constructive obligation that can be estimated reliably and it
is probable that an outflow of economic benefits will be required to settle the obligation. When the value of time is material,
the provision is measured at its present value.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">J.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Treasury shares and Ordinary Shares</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">When share capital recognized
as equity is repurchased by the Group, the amount of the consideration paid, which includes directly attributable costs, net of
any tax effects, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares. When treasury
shares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the resulting surplus
on the transaction is carried to share premium, whereas a deficit on the transaction is deducted from retained earnings.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Ordinary Shares are classified
as equity. Incremental costs directly attributable to the issuance of Ordinary Shares and share options are recognized as a deduction
from equity, net of any tax effects.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">K.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Revenue recognition</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company recognizes revenue
when the customer obtains control over the promised goods or services. The revenue is measured according to the amount of the consideration
to which the Company expects to be entitled in exchange for the goods or services promised to the customer, other than amounts
collected for third parties.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company accounts
for a contract with a customer only when the following conditions are met:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">(a)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The parties to the contract have approved the contract (in writing, orally or according to other customary business practices) and they are committed to satisfying the obligations attributable to them;</font></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top">
<td> </td>
<td><font style="font-size: 10pt">(b)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The Company can identify the rights of each party in relation to the goods or services that will be transferred;</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">(c)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The Company can identify the payment terms for the goods or services that will be transferred;</font></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top">
<td> </td>
<td><font style="font-size: 10pt">(d)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The contract has a commercial substance (i.e. the risk, timing and amount of the entity’s future cash flows are expected to change as a result of the contract); and</font></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top">
<td> </td>
<td><font style="font-size: 10pt">(e)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">It is probable that the consideration, to which the Company is entitled to in exchange for the goods or services transferred to the customer, will be collected.</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">If a contract with a customer
does not meet all of the above criteria, consideration received from the customer is recognized as a liability until the criteria
are met or when one of the following events occurs: the Company has no remaining obligations to transfer goods or services to the
customer and any consideration promised by the customer has been received and cannot be returned; or the contract has been terminated
and the consideration received from the customer cannot be refunded. </p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On the contract’s inception
date, the Company assesses the goods or services promised in the contract with the customer and identifies as a performance obligation
any promise to transfer to the customer goods or services (or a bundle of goods or services) that are distinct.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company identifies goods
or services promised to the customer as being distinct when the customer can benefit from the goods or services on their own or
in conjunction with other readily available resources and the Company’s promise to transfer the goods or services to the
customer is separately identifiable from other promises in the contract. The Company’s identified performance obligations
include: printer, ink, maintenance (which is generally provided for a period of up to one year), training and installation.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Revenue is allocated among
performance obligations in a manner that reflects the consideration that the Company expects to be entitled to for the
promised goods based on the standalone selling prices (“SSP”) of the goods or services of each performance
obligation. SSP are estimated for each distinct performance obligation and judgment may be required in their determination.
The best evidence of SSP is the estimated price of a product or service if the Company would sell them separately in similar
circumstances and to similar customers.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company allocates the transaction
price to the identified performance obligations based on the residual approach, while allocating the estimated standalone selling
prices for performance obligations relating to maintenance, training and installation services, and the residual is allocated to
the printer.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Revenues allocated to the printers, installation and training,
and ink and other consumables are recognized when the control is passed in accordance with the contract terms at a point in time.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Maintenance revenue is recognized
ratably, on a straight-line basis, over the period of the services. Revenue from training and installation is recognized during
the time of performance.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A contract asset is recognized
when the Group has a right to consideration for goods or services it transferred to the customer that is conditional on other than
the passing of time, such as future performance of the Group. Contract assets are classified as receivables when the rights in
their respect become unconditional.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A contract liability is recognized
when the Group has an obligation to transfer goods or services to the customer for which it received consideration (or the consideration
is payable) from the customer.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">L.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Research and development and intangible assets</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Expenditure on research activities,
undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is recognized in profit or loss
when incurred.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Development activities involve
a plan or design for the production of new or substantially improved products and processes. Development expenditure is capitalized
only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic
benefits are probable, and the Group has the intention and sufficient resources to complete development and to use or sell the
asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The expenditure capitalized
in respect of development activities includes the cost of materials, direct labor and overhead costs that are directly attributable
to preparing the asset for its intended use.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In the fourth quarter of 2016,
the Group ceased to capitalize development expenses and began to amortize the intangible asset arising from capitalization of development
expenses, upon the initiation of its beta program. In subsequent periods, capitalized development expenditure is measured at cost
minus accumulated amortization and accumulated impairment losses.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">M.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Amortization of intangible assets</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Amortization is a systematic
allocation of the amortizable amount of an intangible asset over its useful life. The amortizable amount is the cost of the asset,
minus its residual value. Amortization is recognized in profit or loss on a straight-line basis, over the estimated useful lives
of the intangible assets from the date they are available for use, since these methods most closely reflect the expected pattern
of consumption of the future economic benefits embodied in each asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The estimated useful lives of
the capitalized development costs have been determined by the Company’s management as 10 years. Amortization methods, useful
lives and residual values are reviewed at the end of each reporting year and adjusted if appropriate.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">N.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Government grants</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Government grants are recognized
initially at fair value when there is reasonable assurance that they will be received and the Group will comply with the conditions
associated with the grant.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Grants from the Israeli Innovation
Authority (the “Innovation Authority”), with respect to research and development projects, are accounted for as forgivable
loans according to International Accounting Standard (“IAS”) 20, Accounting for Government Grants and Disclosure of
Government Assistance. Grants received from the Innovation Authority are recognized as a liability according to their fair value
on the date of their receipt, unless it is reasonably certain, on that date, that the amount received will not be refunded. The
amount of the liability is reexamined each period, and any changes in the present value of the cash flows discounted at the original
interest rate of the grant are recognized in profit or loss. The difference between the amount received and the fair value on the
date of receiving the grant is recognized as a deduction of research and development expenses. Expenses related to revaluation
of the liability in respect of government grants were recognized in the statements of profit or loss and other comprehensive income
as finance expenses.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">O.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Leases</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Policy applicable before
January 1, 2019</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Determining whether an arrangement
contains a lease</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">At inception or upon reassessment
of an arrangement, the Group determines whether such an arrangement is or contains a lease. An arrangement is a lease or contains
a lease if the following two criteria are met:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">●</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The fulfilment of the arrangement is dependent on the use of a specific asset or assets; and</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">●</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The arrangement contains rights to use the asset.</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Leases that do not transfer
substantially all the risks and rewards incidental to ownership of an underlying asset were classified as operating leases.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group recognized operating
lease payments as expenses on a straight-line basis over the lease term.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Policy applicable from January 1, 2019</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Determining whether an arrangement
contains a lease</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On the inception date of the
lease, the Group determines whether the arrangement is a lease or contains a lease, while examining if it conveys the right to
control the use of an identified asset for a period of time in exchange for consideration. In its assessment of whether an arrangement
conveys the right to control the use of an identified asset, the Group assesses whether it has the following two rights throughout
the lease term:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 48px"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">(a)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The right to obtain substantially all the economic benefits from use of the identified asset; and</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 48px"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">(b)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The right to direct the identified asset’s use.</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">For lease contracts that contain
non-lease components, such as services or maintenance, that are related to a lease component, the Group elected to account for
the contract as a single lease component without separating the components.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><i>Leased assets and
lease liabilities</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Contracts that award the Group
control over the use of a leased asset for a period of time in exchange for consideration, are accounted for as leases. Upon initial
recognition, the Group recognizes a liability at the present value of the balance of future lease payments (these payments do not
include certain variable lease payments), and concurrently recognizes a right-of-use asset at the same amount of the lease liability,
adjusted for any prepaid or accrued lease payments, plus initial direct costs incurred in respect of the lease.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Since the interest rate implicit
in the Group’s leases is not readily determinable, the incremental borrowing rate of the lessee is used. Subsequent to initial
recognition, the right-of-use asset is accounted for using the cost model, and depreciated over the shorter of the lease term or
useful life of the asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group has elected to apply
the practical expedient by which short-term leases of up to one year and/or leases in which the underlying asset has a low value,
are accounted for such that lease payments are recognized in profit or loss on a straight-line basis, over the lease term, without
recognizing an asset and/or liability in the statement of financial position.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>The lease term</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The lease term is the non-cancellable
period of the lease plus periods covered by an extension or termination option if it is reasonably certain that the lessee will
or will not exercise the option, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Variable lease payments</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Variable lease payments that
depend on an index or a rate, are initially measured using the index or rate existing at the commencement of the lease and are
included in the measurement of the lease liability. When the cash flows of future lease payments change as the result of a change
in an index or a rate, the balance of the liability is adjusted against the right-of-use asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Other variable lease payments
that are not included in the measurement of the lease liability are recognized in profit or loss in the period in which the event
or condition that triggers payment occurs.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Depreciation of right-of-use
asset</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">After lease commencement, a
right-of-use asset is measured on a cost basis less accumulated depreciation and accumulated impairment losses and is adjusted
for re-measurements of the lease liability. Depreciation is calculated on a straight-line basis over the useful life or contractual
lease period, whichever is earlier, as follows:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%"> </td>
<td style="width: 3%"><font style="font-size: 10pt">●</font></td>
<td style="width: 24%; text-align: justify"><font style="font-size: 10pt">Buildings</font></td>
<td style="width: 70%; text-align: justify"><font style="font-size: 10pt">1-5 years</font></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td><font style="font-size: 10pt">●</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">Motor vehicles </font></td>
<td style="text-align: justify"><font style="font-size: 10pt">3 years</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Reassessment of lease liability</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Upon the occurrence of a significant
event or a significant change in circumstances that is under the control of the Group and had an effect on the decision whether
it is reasonably certain that the Group will exercise an option, which was not included before in the lease term, or will not exercise
an option, which was previously included in the lease term, the Group re-measures the lease liability according to the revised
leased payments using a new discount rate. The change in the carrying amount of the liability is recognized against the right-of-use
asset, or recognized in profit or loss if the carrying amount of the right-of-use asset was reduced to zero.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Lease modifications</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">When a lease modification increases
the scope of the lease by adding a right to use one or more underlying assets, and the consideration for the lease increased by
an amount commensurate with the stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone
price to reflect the contract’s circumstances, the Group accounts for the modification as a separate lease.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In all other cases, on the initial
date of the lease modification, the Group allocates the consideration in the modified contract to the contract components, determines
the revised lease term and measures the lease liability by discounting the revised lease payments using a revised discount rate.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">For lease modifications that
decrease the scope of the lease, the Group recognizes a decrease in the carrying amount of the right-of-use asset in order to reflect
the partial or full cancellation of the lease, and recognizes in profit or loss a profit (or loss) that equals the difference between
the decrease in the right-of-use asset and re-measurement of the lease liability.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">For other lease modifications,
the Group re-measures the lease liability against the right-of-use asset.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">P.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Financing income and expenses</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financing income is
comprised of interest income on deposits, revaluation of liability in respect of government grants, foreign currency gains
and fair value changes of financial liabilities through profit and loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financing expenses are comprised
of bank fees, exchange rate differences, revaluation of liability in respect of government grants and fair value changes of financial
liabilities through profit and loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Foreign currency gains and losses
on financial assets and financial liabilities are reported on a net basis as either financing income or financing expenses depending
on whether foreign currency movements are in a net gain or net loss position.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">Q.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Employee benefits</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Severance pay</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group’s liability
for severance pay for its employees is calculated pursuant to Israeli Severance Pay Law (1963) (the “Severance Pay Law”).
The Group’s liability is covered by monthly deposits with severance pay funds and insurance policies. For all of the Group’s
employees, the payments to pension funds and to insurance companies exempt the Group from any obligation towards its employees,
in accordance with Section 14 of the Severance Pay Law, which is accounted for as a defined contribution plan (as defined below).
Accumulated amounts in pension funds and in insurance companies are not under the Group’s control or management and, accordingly,
neither those amounts nor the corresponding accrual for severance pay are presented in the consolidated statements of financial
position.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A defined contribution plan
is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and has no legal or constructive
obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognized as an expense
in profit or loss in the periods during which related services are rendered by employees.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="text-decoration:underline">Share-based payment
transactions</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The grant date fair value of
share-based payment awards granted to employees is recognized as a salary expense, with a corresponding increase in equity, over
the period that the employees become unconditionally entitled to the awards. Share-based payment arrangements in which the subsidiary
grants rights to parent company equity instruments to its employees are accounted for by the Group as equity-settled share-based
payment transactions.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">R.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Loss per share</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group presents basic and
diluted loss per share for its Ordinary Shares. Basic loss per share is calculated by dividing the loss attributable to holders
of Ordinary Shares of the Company by the weighted average number of Ordinary Shares outstanding during the year, adjusted for treasury
shares. Diluted loss per share is determined by adjusting the loss attributable to holders of Ordinary Shares of the Company and
the weighted average number of Ordinary Shares outstanding, after adjustment for treasury shares, for the effects of all dilutive
potential Ordinary Shares. </p><br/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Basis for presentation of the financial statements</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The consolidated financial
statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International
Accounting Standards Board. </p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The consolidated financial
statements have been prepared on the historical cost basis, except when otherwise indicated.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The consolidated financial statements
were authorized for issuance by the Company’s board of directors on March 10, 2021.</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Use of estimates and judgments</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The preparation of financial statements in conformity with IFRS
as issued by the International Accounting Standards Board requires management to make judgments, estimates and assumptions that
affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results
may differ from these estimates.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The preparation of accounting
estimates used in the preparation of the Group’s financial statements requires management of the Company to make assumptions
regarding circumstances and events that involve considerable uncertainty. Management of the Company prepares the estimates on the
basis of past experiences, various facts, external circumstances, and reasonable assumptions according to the pertinent circumstances
of each estimate. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognized in the period in which the estimates are revised and in any future periods affected.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Below is information about significant
assumptions made by the Group with respect to estimates and judgments:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; text-align: justify"> </td>
<td style="width: 24px; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">- </font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Fair value measurement of financial instruments</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company accounts for financial
liabilities relating to convertible notes, warrants and related derivatives at fair value through profit or loss. The fair values
of these instruments are determined by using the Monte Carlo simulation method and the Black-Scholes model and assumptions regarding
unobservable inputs used in the valuation model including the probability of meeting revenue targets, and weighted average cost
of capital, all of which can lead to profit or loss from a change in the fair value of these instruments.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">For information on details regarding
fair value measurement at Level 2 and sensitivity analysis see Note 18.D regarding financial instruments.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; text-align: left; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </font></td>
<td style="width: 24px; font-size: 10pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">- </font></td>
<td style="font-size: 10pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Share-based payment transactions</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Estimating fair value for share-based
payment transactions requires determination of the most appropriate valuation model, which depends on the terms and conditions
of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model, including the expected
life of the share option and volatility and making assumptions about them. For the measurement of the fair value of equity-settled
transactions at the grant date, the Company uses the Black-Scholes formula or the Binomial pricing model.</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top; text-align: justify"><td style="width: 24px; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Basis
of consolidation Subsidiaries</font></font></td>
</tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A subsidiary is an entity controlled
by the Company. The Company controls an entity when it is exposed to, or has rights to, variable returns from its involvement
with the entity and has the ability to affect those returns through its power over the entity. The financial statements of the
subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control
is lost. The accounting policies of the subsidiaries are aligned with the policies adopted by the Group.</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">D.</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><font style="text-decoration:underline">Functional currency and presentation currency</font></font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font: 10pt Times New Roman, Times, Serif">(1)</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><font style="text-decoration:underline">Functional and presentation currency</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">These consolidated financial
statements are presented in U.S. dollars (“USD”), which is the Company’s functional currency, and have been rounded
to the nearest thousands, except when otherwise indicated. The USD is the currency that represents the principal economic environment
in which the Company operates.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Foreign currency transactions</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Transactions in currencies other
than the U.S. dollar are translated to the functional currency of the Group at exchange rates at the dates of the transactions.
Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency
at the exchange rate at that date. The foreign currency gain or loss on monetary items is the difference between amortized cost
in the functional currency at the beginning of the year, adjusted for effective interest and payments during the year, and the
amortized cost in foreign currency translated at the exchange rate at the end of the year.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Non-monetary items that are
measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Foreign currency differences
arising on translation are recognized in profit or loss.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Index linked financial items</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financial assets and liabilities
which according to their terms are linked to changes in the Israeli Consumer Price Index (the “Index”) are adjusted
according to the relevant Index on every reporting date in accordance with the terms of the agreement. Linkage differences deriving
from said adjustment are recorded to profit and loss.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Below are details regarding the exchange rate of the New Israeli Shekel (“NIS”) and the Euro and the Index of the NIS:</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Consumer Price Index</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Euro</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">NIS</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%">December 31, 2020</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">101.1</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.22</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">0.31</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>December 31, 2019</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">101.8</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1.12</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.29</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>December 31, 2018</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">101.2</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1.14</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.27</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Change in percentages:</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Year ended December 31, 2020</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(0.69</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(9.32</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(2</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td>Year ended December 31, 2019</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.6</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(2</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">8.45</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Year ended December 31, 2018</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.8</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(4.4</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(7.5</td><td style="text-align: left"> </td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E.</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Financial instruments</font></font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 24px; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Non-derivative
financial assets</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Initial recognition and measurement
of financial assets</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group initially recognizes
trade receivables on the date that they are created. All other financial assets are recognized initially on the trade date at which
the Group becomes a party to the contractual provisions of the instrument. A financial asset is initially measured at fair value
plus transaction costs that are directly attributable to the acquisition or issuance of the financial asset. A trade receivable
without a significant financing component is initially measured at the transaction price. Receivables originating from contract
assets are initially measured at the carrying amount of the contract assets on the date classification was changed from contract
asset to receivables.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Derecognition of financial
assets</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financial assets are derecognized
when the contractual rights of the Group to the cash flows from the asset expire, or the Group transfers the rights to receive
the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership
of the financial asset were transferred. When the Group retains substantially all of the risks and rewards of ownership of the
financial asset, it continues to recognize the financial asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Classification of financial
assets into categories and the accounting treatment of each category</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financial assets are classified
at initial recognition to one of the following measurement categories: amortized cost; fair value through other comprehensive
income – investments in debt instruments; fair value through other comprehensive income – investments in equity instruments;
or fair value through profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group does not expect to
incur any credit loss, thus the financial statements do not include provision for expected credit loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">All financial assets not classified
as measured at amortized cost or fair value through other comprehensive income as described above, as well as financial assets
designated at fair value through profit or loss, are measured at fair value through profit or loss. On initial recognition, the
Group designates financial assets at fair value through profit or loss if doing so eliminates or significantly reduces an accounting
mismatch that would otherwise arise.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group has balances of
cash, trade and other receivables and deposits that are held within a business model whose objective is collecting
contractual cash flows. The contractual cash flows of these financial assets represent solely payments of principal and
interest that reflect consideration for the time value of money and the credit risk. Accordingly, these financial assets are
measured at amortized cost.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Cash includes cash balances
available for immediate use. Deposits include short-term deposits with banking corporations (with original maturities of three
months or more) that are readily convertible into known amounts of cash and are exposed to insignificant risks of change in value.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; font-size: 10pt"> </td>
<td style="width: 24px; text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</font></td>
<td style="font-size: 10pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Non-derivative financial liabilities</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Non-derivative financial liabilities
include trade and other payables.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Initial recognition of financial
liabilities</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group initially recognizes
financial liabilities on the trade date at which the Group becomes a party to the contractual provisions of the instrument.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Subsequent measurement of
financial liabilities</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financial liabilities are recognized
initially at fair value less any directly attributable transaction costs. Subsequent to initial recognition these financial liabilities
are measured at amortized cost using the effective interest method. Transaction costs directly attributable to an expected issuance
of an instrument that will be classified as a financial liability are recognized as an asset in the framework of deferred expenses
in the statement of financial position. These transaction costs are deducted from the financial liability upon its initial recognition,
or are amortized as financing expenses in the statement of profit or loss and other comprehensive income when the issuance is no
longer expected to occur.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Derecognition of financial
liabilities</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financial liabilities are derecognized
when the obligation of the Group, as specified in the agreement, expires or when it is discharged or cancelled.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="text-decoration:underline">Offset of financial
instruments</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financial assets and liabilities
are offset and the net amount presented in the statement of financial position when, and only when, the Company currently has a
legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability
simultaneously.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Measurement of derivative
financial instruments</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Derivatives are recognized
initially at fair value attributable transaction costs are recognized in profit or loss as incurred. <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent
to initial recognition, derivatives are measured at fair value, and changes therein are recognized in profit or loss, as financing
income or expense.</font></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 24px; font-size: 10pt"><font style="font-size: 10pt">F.</font></td>
<td style="font-size: 10pt; text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Property plant and equipment</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Property plant and equipment
are presented according to cost, including directly attributed acquisition costs, minus accumulated depreciation and losses from
accrued decrease in value. Improvements and upgrades are included in the assets’ costs whereas maintenance and repair costs
are recognized in profit and loss as accrued.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Gains and losses on disposal
of a fixed asset item are determined by comparing the net proceeds from disposal with the carrying amount of the asset, and are
recognized in their corresponding section, in profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The cost of printers used for
internal purposes, which are classified as property, plant and equipment, includes the cost of materials and direct labor, and
any other costs directly attributable to bringing the assets to a working condition for their intended use.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The depreciation is calculated
in equal yearly rates during the period of the useful life span of the assets, as follows:</p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td><b> </b></td>
<td style="padding-bottom: 1.5pt"><b> </b></td>
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 88%"><font style="font-size: 10pt">Machinery and equipment (mainly 7%)</font></td>
<td style="width: 1%"> </td>
<td style="width: 11%; text-align: center"><font style="font-size: 10pt">7 – 25</font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Computers</font></td>
<td> </td>
<td style="text-align: center"><font style="font-size: 10pt">20 – 33</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Office furniture and equipment</font></td>
<td> </td>
<td style="text-align: center"><font style="font-size: 10pt">7 – 15</font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Leasehold Improvements</font></td>
<td> </td>
<td style="text-align: center"><font style="font-size: 10pt">7 – 10</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Printers leased to customers</font></td>
<td> </td>
<td style="text-align: center"><font style="font-size: 10pt">25</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Depreciation methods, useful
lives and residual values are reviewed at the end of each reporting year and adjusted if appropriate.</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-size: 10pt">G.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Inventory</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Inventories are measured at
the lower of cost and net realizable value. The cost of inventories is based on the weighted averages method, and includes expenditure
incurred in acquiring the inventories and the costs incurred in bringing them to their existing location and condition. In the
case of manufactured inventories and work in progress, cost includes an appropriate share of production overheads based on normal
operating capacity. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated
costs of completion and selling expenses.</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-size: 10pt">H.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Impairment of non-financial assets</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The carrying amounts of the
Group’s non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment.
If any such indication exists, then the asset’s recoverable amount is estimated.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The recoverable amount of an
asset is the greater of its value in use and its fair value, minus the costs of disposal. In assessing value in use, the estimated
future cash flows are discounted to their present value using a pre-tax discount rate that reflects the assessments of market participants
regarding the time value of money and the risks specific to the asset, for which the estimated future cash flows from the asset
were not adjusted.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">An impairment loss is recognized
if the carrying amount of an asset exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss.</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-size: 10pt">I.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Provisions</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A provision for claims is recognized
if, as a result of a past event, the Group has a present legal or constructive obligation that can be estimated reliably and it
is probable that an outflow of economic benefits will be required to settle the obligation. When the value of time is material,
the provision is measured at its present value.</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-size: 10pt">J.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Treasury shares and Ordinary Shares</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">When share capital recognized
as equity is repurchased by the Group, the amount of the consideration paid, which includes directly attributable costs, net of
any tax effects, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares. When treasury
shares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the resulting surplus
on the transaction is carried to share premium, whereas a deficit on the transaction is deducted from retained earnings.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Ordinary Shares are classified
as equity. Incremental costs directly attributable to the issuance of Ordinary Shares and share options are recognized as a deduction
from equity, net of any tax effects.</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-size: 10pt">K.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Revenue recognition</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company recognizes revenue
when the customer obtains control over the promised goods or services. The revenue is measured according to the amount of the consideration
to which the Company expects to be entitled in exchange for the goods or services promised to the customer, other than amounts
collected for third parties.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company accounts
for a contract with a customer only when the following conditions are met:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">(a)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The parties to the contract have approved the contract (in writing, orally or according to other customary business practices) and they are committed to satisfying the obligations attributable to them;</font></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top">
<td> </td>
<td><font style="font-size: 10pt">(b)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The Company can identify the rights of each party in relation to the goods or services that will be transferred;</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">(c)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The Company can identify the payment terms for the goods or services that will be transferred;</font></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top">
<td> </td>
<td><font style="font-size: 10pt">(d)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The contract has a commercial substance (i.e. the risk, timing and amount of the entity’s future cash flows are expected to change as a result of the contract); and</font></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top">
<td> </td>
<td><font style="font-size: 10pt">(e)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">It is probable that the consideration, to which the Company is entitled to in exchange for the goods or services transferred to the customer, will be collected.</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">If a contract with a customer
does not meet all of the above criteria, consideration received from the customer is recognized as a liability until the criteria
are met or when one of the following events occurs: the Company has no remaining obligations to transfer goods or services to the
customer and any consideration promised by the customer has been received and cannot be returned; or the contract has been terminated
and the consideration received from the customer cannot be refunded. </p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On the contract’s inception
date, the Company assesses the goods or services promised in the contract with the customer and identifies as a performance obligation
any promise to transfer to the customer goods or services (or a bundle of goods or services) that are distinct.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company identifies goods
or services promised to the customer as being distinct when the customer can benefit from the goods or services on their own or
in conjunction with other readily available resources and the Company’s promise to transfer the goods or services to the
customer is separately identifiable from other promises in the contract. The Company’s identified performance obligations
include: printer, ink, maintenance (which is generally provided for a period of up to one year), training and installation.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Revenue is allocated among
performance obligations in a manner that reflects the consideration that the Company expects to be entitled to for the
promised goods based on the standalone selling prices (“SSP”) of the goods or services of each performance
obligation. SSP are estimated for each distinct performance obligation and judgment may be required in their determination.
The best evidence of SSP is the estimated price of a product or service if the Company would sell them separately in similar
circumstances and to similar customers.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company allocates the transaction
price to the identified performance obligations based on the residual approach, while allocating the estimated standalone selling
prices for performance obligations relating to maintenance, training and installation services, and the residual is allocated to
the printer.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Revenues allocated to the printers, installation and training,
and ink and other consumables are recognized when the control is passed in accordance with the contract terms at a point in time.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Maintenance revenue is recognized
ratably, on a straight-line basis, over the period of the services. Revenue from training and installation is recognized during
the time of performance.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A contract asset is recognized
when the Group has a right to consideration for goods or services it transferred to the customer that is conditional on other than
the passing of time, such as future performance of the Group. Contract assets are classified as receivables when the rights in
their respect become unconditional.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A contract liability is recognized
when the Group has an obligation to transfer goods or services to the customer for which it received consideration (or the consideration
is payable) from the customer.</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-size: 10pt">L.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Research and development and intangible assets</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Expenditure on research activities,
undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is recognized in profit or loss
when incurred.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Development activities involve
a plan or design for the production of new or substantially improved products and processes. Development expenditure is capitalized
only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic
benefits are probable, and the Group has the intention and sufficient resources to complete development and to use or sell the
asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The expenditure capitalized
in respect of development activities includes the cost of materials, direct labor and overhead costs that are directly attributable
to preparing the asset for its intended use.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In the fourth quarter of 2016,
the Group ceased to capitalize development expenses and began to amortize the intangible asset arising from capitalization of development
expenses, upon the initiation of its beta program. In subsequent periods, capitalized development expenditure is measured at cost
minus accumulated amortization and accumulated impairment losses.</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-size: 10pt">M.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Amortization of intangible assets</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Amortization is a systematic
allocation of the amortizable amount of an intangible asset over its useful life. The amortizable amount is the cost of the asset,
minus its residual value. Amortization is recognized in profit or loss on a straight-line basis, over the estimated useful lives
of the intangible assets from the date they are available for use, since these methods most closely reflect the expected pattern
of consumption of the future economic benefits embodied in each asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The estimated useful lives of
the capitalized development costs have been determined by the Company’s management as 10 years. Amortization methods, useful
lives and residual values are reviewed at the end of each reporting year and adjusted if appropriate.</p>
P10Y
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-size: 10pt">N.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Government grants</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Government grants are recognized
initially at fair value when there is reasonable assurance that they will be received and the Group will comply with the conditions
associated with the grant.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Grants from the Israeli Innovation
Authority (the “Innovation Authority”), with respect to research and development projects, are accounted for as forgivable
loans according to International Accounting Standard (“IAS”) 20, Accounting for Government Grants and Disclosure of
Government Assistance. Grants received from the Innovation Authority are recognized as a liability according to their fair value
on the date of their receipt, unless it is reasonably certain, on that date, that the amount received will not be refunded. The
amount of the liability is reexamined each period, and any changes in the present value of the cash flows discounted at the original
interest rate of the grant are recognized in profit or loss. The difference between the amount received and the fair value on the
date of receiving the grant is recognized as a deduction of research and development expenses. Expenses related to revaluation
of the liability in respect of government grants were recognized in the statements of profit or loss and other comprehensive income
as finance expenses.</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-size: 10pt">O.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Leases</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Policy applicable before
January 1, 2019</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Determining whether an arrangement
contains a lease</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">At inception or upon reassessment
of an arrangement, the Group determines whether such an arrangement is or contains a lease. An arrangement is a lease or contains
a lease if the following two criteria are met:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">●</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The fulfilment of the arrangement is dependent on the use of a specific asset or assets; and</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">●</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The arrangement contains rights to use the asset.</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Leases that do not transfer
substantially all the risks and rewards incidental to ownership of an underlying asset were classified as operating leases.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group recognized operating
lease payments as expenses on a straight-line basis over the lease term.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Policy applicable from January 1, 2019</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Determining whether an arrangement
contains a lease</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On the inception date of the
lease, the Group determines whether the arrangement is a lease or contains a lease, while examining if it conveys the right to
control the use of an identified asset for a period of time in exchange for consideration. In its assessment of whether an arrangement
conveys the right to control the use of an identified asset, the Group assesses whether it has the following two rights throughout
the lease term:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 48px"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">(a)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The right to obtain substantially all the economic benefits from use of the identified asset; and</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 48px"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">(b)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The right to direct the identified asset’s use.</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">For lease contracts that contain
non-lease components, such as services or maintenance, that are related to a lease component, the Group elected to account for
the contract as a single lease component without separating the components.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><i>Leased assets and
lease liabilities</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Contracts that award the Group
control over the use of a leased asset for a period of time in exchange for consideration, are accounted for as leases. Upon initial
recognition, the Group recognizes a liability at the present value of the balance of future lease payments (these payments do not
include certain variable lease payments), and concurrently recognizes a right-of-use asset at the same amount of the lease liability,
adjusted for any prepaid or accrued lease payments, plus initial direct costs incurred in respect of the lease.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Since the interest rate implicit
in the Group’s leases is not readily determinable, the incremental borrowing rate of the lessee is used. Subsequent to initial
recognition, the right-of-use asset is accounted for using the cost model, and depreciated over the shorter of the lease term or
useful life of the asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group has elected to apply
the practical expedient by which short-term leases of up to one year and/or leases in which the underlying asset has a low value,
are accounted for such that lease payments are recognized in profit or loss on a straight-line basis, over the lease term, without
recognizing an asset and/or liability in the statement of financial position.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>The lease term</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The lease term is the non-cancellable
period of the lease plus periods covered by an extension or termination option if it is reasonably certain that the lessee will
or will not exercise the option, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Variable lease payments</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Variable lease payments that
depend on an index or a rate, are initially measured using the index or rate existing at the commencement of the lease and are
included in the measurement of the lease liability. When the cash flows of future lease payments change as the result of a change
in an index or a rate, the balance of the liability is adjusted against the right-of-use asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Other variable lease payments
that are not included in the measurement of the lease liability are recognized in profit or loss in the period in which the event
or condition that triggers payment occurs.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Depreciation of right-of-use
asset</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">After lease commencement, a
right-of-use asset is measured on a cost basis less accumulated depreciation and accumulated impairment losses and is adjusted
for re-measurements of the lease liability. Depreciation is calculated on a straight-line basis over the useful life or contractual
lease period, whichever is earlier, as follows:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%"> </td>
<td style="width: 3%"><font style="font-size: 10pt">●</font></td>
<td style="width: 24%; text-align: justify"><font style="font-size: 10pt">Buildings</font></td>
<td style="width: 70%; text-align: justify"><font style="font-size: 10pt">1-5 years</font></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td><font style="font-size: 10pt">●</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">Motor vehicles </font></td>
<td style="text-align: justify"><font style="font-size: 10pt">3 years</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Reassessment of lease liability</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Upon the occurrence of a significant
event or a significant change in circumstances that is under the control of the Group and had an effect on the decision whether
it is reasonably certain that the Group will exercise an option, which was not included before in the lease term, or will not exercise
an option, which was previously included in the lease term, the Group re-measures the lease liability according to the revised
leased payments using a new discount rate. The change in the carrying amount of the liability is recognized against the right-of-use
asset, or recognized in profit or loss if the carrying amount of the right-of-use asset was reduced to zero.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Lease modifications</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">When a lease modification increases
the scope of the lease by adding a right to use one or more underlying assets, and the consideration for the lease increased by
an amount commensurate with the stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone
price to reflect the contract’s circumstances, the Group accounts for the modification as a separate lease.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In all other cases, on the initial
date of the lease modification, the Group allocates the consideration in the modified contract to the contract components, determines
the revised lease term and measures the lease liability by discounting the revised lease payments using a revised discount rate.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">For lease modifications that
decrease the scope of the lease, the Group recognizes a decrease in the carrying amount of the right-of-use asset in order to reflect
the partial or full cancellation of the lease, and recognizes in profit or loss a profit (or loss) that equals the difference between
the decrease in the right-of-use asset and re-measurement of the lease liability.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">For other lease modifications,
the Group re-measures the lease liability against the right-of-use asset.</p>
P1Y
P5Y
P3Y
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-size: 10pt">P.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Financing income and expenses</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financing income is
comprised of interest income on deposits, revaluation of liability in respect of government grants, foreign currency gains
and fair value changes of financial liabilities through profit and loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Financing expenses are comprised
of bank fees, exchange rate differences, revaluation of liability in respect of government grants and fair value changes of financial
liabilities through profit and loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Foreign currency gains and losses
on financial assets and financial liabilities are reported on a net basis as either financing income or financing expenses depending
on whether foreign currency movements are in a net gain or net loss position.</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-size: 10pt">Q.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Employee benefits</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Severance pay</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group’s liability
for severance pay for its employees is calculated pursuant to Israeli Severance Pay Law (1963) (the “Severance Pay Law”).
The Group’s liability is covered by monthly deposits with severance pay funds and insurance policies. For all of the Group’s
employees, the payments to pension funds and to insurance companies exempt the Group from any obligation towards its employees,
in accordance with Section 14 of the Severance Pay Law, which is accounted for as a defined contribution plan (as defined below).
Accumulated amounts in pension funds and in insurance companies are not under the Group’s control or management and, accordingly,
neither those amounts nor the corresponding accrual for severance pay are presented in the consolidated statements of financial
position.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A defined contribution plan
is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and has no legal or constructive
obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognized as an expense
in profit or loss in the periods during which related services are rendered by employees.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="text-decoration:underline">Share-based payment
transactions</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The grant date fair value of
share-based payment awards granted to employees is recognized as a salary expense, with a corresponding increase in equity, over
the period that the employees become unconditionally entitled to the awards. Share-based payment arrangements in which the subsidiary
grants rights to parent company equity instruments to its employees are accounted for by the Group as equity-settled share-based
payment transactions.</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-size: 10pt">R.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Loss per share</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group presents basic and
diluted loss per share for its Ordinary Shares. Basic loss per share is calculated by dividing the loss attributable to holders
of Ordinary Shares of the Company by the weighted average number of Ordinary Shares outstanding during the year, adjusted for treasury
shares. Diluted loss per share is determined by adjusting the loss attributable to holders of Ordinary Shares of the Company and
the weighted average number of Ordinary Shares outstanding, after adjustment for treasury shares, for the effects of all dilutive
potential Ordinary Shares.</p>
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Consumer Price Index</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Euro</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">NIS</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%">December 31, 2020</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">101.1</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.22</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">0.31</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>December 31, 2019</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">101.8</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1.12</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.29</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>December 31, 2018</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">101.2</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1.14</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.27</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Change in percentages:</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Year ended December 31, 2020</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(0.69</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(9.32</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(2</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td>Year ended December 31, 2019</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.6</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(2</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">8.45</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Year ended December 31, 2018</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.8</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(4.4</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(7.5</td><td style="text-align: left"> </td></tr>
</table>
101.1
1.22
0.31
101.8
1.12
0.29
101.2
1.14
0.27
-0.0069
-9.32
-0.02
0.006
-2
0.0845
0.008
-4.4
0.075
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td><b> </b></td>
<td style="padding-bottom: 1.5pt"><b> </b></td>
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 88%"><font style="font-size: 10pt">Machinery and equipment (mainly 7%)</font></td>
<td style="width: 1%"> </td>
<td style="width: 11%; text-align: center"><font style="font-size: 10pt">7 – 25</font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Computers</font></td>
<td> </td>
<td style="text-align: center"><font style="font-size: 10pt">20 – 33</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Office furniture and equipment</font></td>
<td> </td>
<td style="text-align: center"><font style="font-size: 10pt">7 – 15</font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Leasehold Improvements</font></td>
<td> </td>
<td style="text-align: center"><font style="font-size: 10pt">7 – 10</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Printers leased to customers</font></td>
<td> </td>
<td style="text-align: center"><font style="font-size: 10pt">25</font></td></tr>
</table>
0.07
0.25
0.20
0.33
0.07
0.15
0.07
0.10
0.25
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 3.A</font> – <font style="text-decoration:underline">Cash</font></p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December
31,</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2019</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2020</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thousands<br/>
USD</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Thousands<br/>
USD</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank accounts- dominated in NIS</font></td>
<td> </td>
<td colspan="2" style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">348</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,057</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="width: 76%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank accounts- dominated in USD</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,536</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">584,205</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank accounts- other</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">76</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td> </td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,894</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">585,338</font></td>
<td> </td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 3.B</font> – <font style="text-decoration:underline">Restricted deposits</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group has a restricted deposit in the amount of $468 thousand for the lease of its offices and labs and for credit cards. The deposit is not linked and bears an annual interest rate of 0.01%. The Group expects to lease its offices and labs for a period of more than a year, thus the restricted deposit was classified as a non-current asset. </font></td></tr>
</table><br/>
468000
0.0001
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December
31,</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2019</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2020</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thousands<br/>
USD</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Thousands<br/>
USD</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank accounts- dominated in NIS</font></td>
<td> </td>
<td colspan="2" style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">348</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,057</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="width: 76%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank accounts- dominated in USD</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,536</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">584,205</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank accounts- other</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">76</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td> </td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,894</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">585,338</font></td>
<td> </td></tr>
</table>
348000
1057000
3536000
584205000
10000
76000
3894000
585338000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 4.A</font> – <font style="text-decoration:underline">Trade
receivables</font></p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>Thousands<br/> USD</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt; width: 76%; text-align: left">Open balances</td><td style="padding-bottom: 2pt; width: 1%"> </td>
<td style="border-bottom: Black 4pt double; width: 1%; text-align: left"></td><td style="border-bottom: Black 4pt double; width: 9%; text-align: right">1,816</td><td style="padding-bottom: 2pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 2pt; width: 1%"> </td>
<td style="border-bottom: Black 4pt double; width: 1%; text-align: left"></td><td style="border-bottom: Black 4pt double; width: 9%; text-align: right">713</td><td style="padding-bottom: 2pt; width: 1%; text-align: left"> </td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 4.B</font> – <font style="text-decoration:underline">Other receivables</font></p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>Thousands<br/> USD</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left">Government authorities</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">332</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">400</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Prepaid expenses</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">221</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">696</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">17</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">30</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 2pt"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">570</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,126</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><br/>
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>Thousands<br/> USD</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt; width: 76%; text-align: left">Open balances</td><td style="padding-bottom: 2pt; width: 1%"> </td>
<td style="border-bottom: Black 4pt double; width: 1%; text-align: left"></td><td style="border-bottom: Black 4pt double; width: 9%; text-align: right">1,816</td><td style="padding-bottom: 2pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 2pt; width: 1%"> </td>
<td style="border-bottom: Black 4pt double; width: 1%; text-align: left"></td><td style="border-bottom: Black 4pt double; width: 9%; text-align: right">713</td><td style="padding-bottom: 2pt; width: 1%; text-align: left"> </td></tr>
</table>
1816000
713000
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>Thousands<br/> USD</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left">Government authorities</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">332</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">400</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Prepaid expenses</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">221</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">696</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">17</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">30</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 2pt"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">570</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,126</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table>
332000
400000
221000
696000
17000
30000
570000
1126000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 5</font> – <font style="text-decoration:underline">Inventory</font></p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>Thousands<br/> USD</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left">Raw materials and work in progress (*)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,636</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,692</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">Finished goods</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">907</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">622</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,543</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,314</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left">(*)</td><td style="text-align: justify">A part of the raw materials and work in progress are
expected to be sold in a period longer than the operating cycle of the Company.</td>
</tr></table><br/>
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>Thousands<br/> USD</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left">Raw materials and work in progress (*)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,636</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,692</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">Finished goods</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">907</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">622</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,543</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,314</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left">(*)</td><td style="text-align: justify">A part of the raw materials and work in progress are
expected to be sold in a period longer than the operating cycle of the Company.</td>
</tr></table>
2636000
2692000
907000
622000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 6</font> – <font style="text-decoration:underline">Property plant
and equipment, net</font></p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Machinery and equipment</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Computers</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Office furniture and equipment</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Leasehold improvements</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Printers leased to clients</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"><font style="text-decoration:underline">Cost</font></td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 28%; text-align: justify">As of January 1, 2019</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4,132</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">471</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">158</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,719</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">199</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">6,679</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Additions</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">770</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">5</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">26</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">833</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Disposals</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(306</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(3</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(87</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(396</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify; padding-bottom: 1.5pt">Designation change</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">112</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(112</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">As of December 31, 2019</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">4,708</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">476</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">187</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,745</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">7,116</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-weight: bold; text-align: justify">Additions</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,163</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">124</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">85</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">12</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,384</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="font-weight: bold; text-align: justify">Disposals</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(8</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(22</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(30</td><td style="font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-weight: bold; text-align: justify; padding-bottom: 4pt">As of December 31, 2020</td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">5,871</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">592</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">250</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,757</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">8,470</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-decoration: underline; text-align: justify">Depreciation accrued</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">As of January 1, 2019</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">792</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">365</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">238</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">47</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,479</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Disposals</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">799</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">65</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">166</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">13</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,060</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Designation change</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(133</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(1</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(32</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(166</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify; padding-bottom: 1.5pt">Disposals</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">28</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(28</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">As of December 31, 2019</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,486</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">430</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">53</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">404</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2,373</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="font-weight: bold; text-align: justify">Additions</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">787</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">47</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">30</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">167</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,031</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-weight: bold; text-align: justify">Disposals</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(8</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(18</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(26</td><td style="font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td style="font-weight: bold; text-align: justify; padding-bottom: 4pt">As of December 31, 2020</td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">2,273</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">469</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">65</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">571</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,378</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-decoration: underline; text-align: justify">Carrying amount</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-weight: bold; text-align: justify; padding-bottom: 4pt">As of December 31, 2020</td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,598</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">123</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">185</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,186</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">5,092</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify; padding-bottom: 4pt">As of December 31, 2019</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,222</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">46</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">134</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,341</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4,743</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">During the year ended
December 31, 2020, the Group acquired $25,000 of property plant and equipment on credit.</p><br/>
25000
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Machinery and equipment</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Computers</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Office furniture and equipment</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Leasehold improvements</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Printers leased to clients</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"><font style="text-decoration:underline">Cost</font></td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 28%; text-align: justify">As of January 1, 2019</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4,132</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">471</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">158</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,719</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">199</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">6,679</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Additions</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">770</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">5</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">26</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">833</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Disposals</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(306</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(3</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(87</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(396</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify; padding-bottom: 1.5pt">Designation change</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">112</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(112</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">As of December 31, 2019</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">4,708</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">476</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">187</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,745</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">7,116</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-weight: bold; text-align: justify">Additions</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,163</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">124</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">85</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">12</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,384</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="font-weight: bold; text-align: justify">Disposals</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(8</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(22</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(30</td><td style="font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-weight: bold; text-align: justify; padding-bottom: 4pt">As of December 31, 2020</td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">5,871</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">592</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">250</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,757</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">8,470</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-decoration: underline; text-align: justify">Depreciation accrued</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">As of January 1, 2019</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">792</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">365</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">238</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">47</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,479</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Disposals</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">799</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">65</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">166</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">13</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,060</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Designation change</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(133</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(1</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(32</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(166</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify; padding-bottom: 1.5pt">Disposals</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">28</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(28</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">As of December 31, 2019</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,486</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">430</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">53</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">404</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2,373</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="font-weight: bold; text-align: justify">Additions</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">787</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">47</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">30</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">167</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,031</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-weight: bold; text-align: justify">Disposals</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(8</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(18</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(26</td><td style="font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td style="font-weight: bold; text-align: justify; padding-bottom: 4pt">As of December 31, 2020</td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">2,273</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">469</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">65</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">571</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,378</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-decoration: underline; text-align: justify">Carrying amount</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-weight: bold; text-align: justify; padding-bottom: 4pt">As of December 31, 2020</td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,598</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">123</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">185</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,186</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">5,092</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify; padding-bottom: 4pt">As of December 31, 2019</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,222</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">46</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">134</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,341</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4,743</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table>
4132000
471000
158000
1719000
199000
6679000
770000
5000
32000
26000
833000
306000
3000
87000
396000
112000
-112000
4708000
476000
187000
1745000
0
7116000
1163000
124000
85000
12000
1384000
8000
22000
30000
5871000
592000
250000
1757000
8470000
792000
365000
37000
238000
47000
1479000
799000
65000
17000
166000
13000
1060000
-133000
-1000
-32000
-166000
-28000
28000
1486000
430000
53000
404000
2373000
787000
47000
30000
167000
1031000
8000
18000
26000
2273000
469000
65000
571000
3378000
3598000
123000
185000
1186000
3222000
46000
134000
1341000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="text-decoration:underline">Note 7</font> – <font style="text-decoration:underline">Intangible assets</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Intangible assets include development
costs that were capitalized. The expenditure capitalized in respect of development activities includes the cost of materials, direct
labor and overhead costs that are directly attributable to preparing the asset for its intended use. See also Note 2.M.</p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">2019</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2020</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Thousands<br/>
USD</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Thousands<br/>
USD</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 76%"><font style="font-size: 10pt">Balance as of January 1</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">5,983</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt"><b>5,211</b></font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Amortization</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(772</font></td>
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt"><b>(771</b></font></td>
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt"><b>)</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 2pt"><font style="font-size: 10pt">Balance as of December 31</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">5,211</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt"><b>4,440</b></font></td>
<td style="padding-bottom: 2pt"> </td></tr>
</table><br/>
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">2019</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2020</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Thousands<br/>
USD</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Thousands<br/>
USD</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 76%"><font style="font-size: 10pt">Balance as of January 1</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">5,983</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt"><b>5,211</b></font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Amortization</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(772</font></td>
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt"><b>(771</b></font></td>
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt"><b>)</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 2pt"><font style="font-size: 10pt">Balance as of December 31</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">5,211</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt"><b>4,440</b></font></td>
<td style="padding-bottom: 2pt"> </td></tr>
</table>
5983000
772000
771000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="text-decoration:underline">Note 8</font> – <font style="text-decoration:underline">Subsidiaries</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Presented hereunder is a list of the Group’s
subsidiaries:</p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in; vertical-align: top"> </td>
<td> </td>
<td rowspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Principal
location<br/>
of the company’s<br/>
activity</font></td>
<td> </td>
<td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Group’s ownership interest in the subsidiary for the year ended December 31</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in; vertical-align: top"> </td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2019</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2020</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1.5pt solid; padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name
of company</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>%</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: top"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nano Dimension Technologies Ltd.</font></td>
<td style="width: 1%"> </td>
<td style="width: 11%; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</font></td>
<td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>100</b></font></td>
<td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>%</b></font></td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: top"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nano Dimension IP Ltd. (*)</font></td>
<td> </td>
<td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>100</b></font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>%</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: top"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nano Dimension USA Inc.</font></td>
<td> </td>
<td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">USA</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>100</b></font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>%</b></font></td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: top"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nano Dimension (HK) Limited (*)</font></td>
<td> </td>
<td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asia-Pacific</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>100</b></font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>%</b></font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">(*)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">Nano Dimension IP Ltd. and Nano Dimension (HK) Limited were
incorporated by the Company in 2018. Nano Dimension IP Ltd. had no material activity until and during 2020.</font></td></tr>
</table><br/>
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in; vertical-align: top"> </td>
<td> </td>
<td rowspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Principal
location<br/>
of the company’s<br/>
activity</font></td>
<td> </td>
<td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Group’s ownership interest in the subsidiary for the year ended December 31</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in; vertical-align: top"> </td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2019</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2020</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1.5pt solid; padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name
of company</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>%</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: top"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nano Dimension Technologies Ltd.</font></td>
<td style="width: 1%"> </td>
<td style="width: 11%; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</font></td>
<td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>100</b></font></td>
<td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>%</b></font></td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: top"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nano Dimension IP Ltd. (*)</font></td>
<td> </td>
<td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>100</b></font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>%</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: top"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nano Dimension USA Inc.</font></td>
<td> </td>
<td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">USA</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>100</b></font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>%</b></font></td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: top"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nano Dimension (HK) Limited (*)</font></td>
<td> </td>
<td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asia-Pacific</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>100</b></font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>%</b></font></td></tr>
</table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">(*)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">Nano Dimension IP Ltd. and Nano Dimension (HK) Limited were
incorporated by the Company in 2018. Nano Dimension IP Ltd. had no material activity until and during 2020.</font></td></tr>
</table>
Nano Dimension Technologies Ltd.
Israel
1.00
1.00
Nano Dimension IP Ltd. (*)
Israel
1.00
1.00
Nano Dimension USA Inc.
USA
1.00
1.00
Nano Dimension (HK) Limited (*)
Asia-Pacific
1.00
1.00
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="text-decoration:underline">Note 9</font> – <font style="text-decoration:underline">Other payables</font></p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">December 31,</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">2019</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2020</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Thousands<br/>
USD</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Thousands<br/>
USD</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%"><font style="font-size: 10pt">Accrued expenses</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">406</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt"><b>1,635</b></font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Contract liabilities</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">991</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>968</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 10pt">Lease liability</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">1,055</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>1,148</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Employees and related liabilities</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">616</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>1,230</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 10pt">Government authorities</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">249</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>659</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Current maturities in respect of government grants</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">231</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>226</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Others</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">27</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt"><b>44</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">3,575</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt"><b>5,910</b></font></td>
<td style="padding-bottom: 2pt"> </td></tr>
</table><br/>
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">December 31,</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">2019</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2020</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Thousands<br/>
USD</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Thousands<br/>
USD</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%"><font style="font-size: 10pt">Accrued expenses</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">406</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt"><b>1,635</b></font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Contract liabilities</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">991</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>968</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 10pt">Lease liability</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">1,055</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>1,148</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Employees and related liabilities</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">616</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>1,230</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 10pt">Government authorities</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">249</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>659</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Current maturities in respect of government grants</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">231</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>226</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Others</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">27</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt"><b>44</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">3,575</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt"><b>5,910</b></font></td>
<td style="padding-bottom: 2pt"> </td></tr>
</table>
406000
1635000
991000
968000
1055000
1148000
616000
1230000
249000
659000
231000
226000
27000
44000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="text-decoration:underline">Note 10</font> – <font style="text-decoration:underline">Liability in respect of government
grants</font></p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">2019</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2020</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Thousands<br/>
USD</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Thousands<br/>
USD</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%"><font style="font-size: 10pt">Balance as of January 1</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">1,445</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt"><b>1,275</b></font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Amounts received during the year</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">121</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>55</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 10pt">Payment of royalties</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(185</font></td>
<td><font style="font-size: 10pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>(158</b></font></td>
<td><font style="font-size: 10pt"><b>)</b></font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Amounts recognized as an offset from research and development expenses</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(49</font></td>
<td><font style="font-size: 10pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>(23</b></font></td>
<td><font style="font-size: 10pt"><b>)</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Revaluation of the liability</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(57</font></td>
<td style="padding-bottom: 1.5pt">)</td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt"><b>(73</b></font></td>
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt"><b>)</b></font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Balance as of December 31</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">1,275</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>1,076</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Current maturities in respect of government grants</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">231</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt"><b>226</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt"><font style="font-size: 10pt">Long term liability in respect of government grants</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">1,044</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt"><b>850</b></font></td>
<td style="padding-bottom: 2pt"> </td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the years 2014 to 2020, Nano-Technologies
received several approvals from the Innovation Authority, to finance development projects in an aggregate amount of up to $4,505,000,
while the Innovation Authority share of financing the aforesaid amount was in a range of 30% to 50% of expenditures. As of December
31, 2020, the Company received grants in the aggregate amount of $1,865,000. In consideration, Nano-Technologies undertook to pay
the Innovation Authority royalties in the rate of 3%-3.5% of the future sales up to the amount of the grants received. On the date
on which the grants were received, the Group recognized a liability using a discount rate ranging between 19% to 30%.</p><br/>
4505000
0.30
0.50
1865000
0.03
0.035
0.19
0.30
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">2019</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2020</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Thousands<br/>
USD</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Thousands<br/>
USD</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%"><font style="font-size: 10pt">Balance as of January 1</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">1,445</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt"><b>1,275</b></font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Amounts received during the year</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">121</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>55</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 10pt">Payment of royalties</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(185</font></td>
<td><font style="font-size: 10pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>(158</b></font></td>
<td><font style="font-size: 10pt"><b>)</b></font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Amounts recognized as an offset from research and development expenses</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(49</font></td>
<td><font style="font-size: 10pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>(23</b></font></td>
<td><font style="font-size: 10pt"><b>)</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Revaluation of the liability</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(57</font></td>
<td style="padding-bottom: 1.5pt">)</td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt"><b>(73</b></font></td>
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt"><b>)</b></font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-size: 10pt">Balance as of December 31</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">1,275</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt"><b>1,076</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Current maturities in respect of government grants</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">231</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt"><b>226</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt"><font style="font-size: 10pt">Long term liability in respect of government grants</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">1,044</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt"><b>850</b></font></td>
<td style="padding-bottom: 2pt"> </td></tr>
</table>
1445000
1275000
121000
55000
185000
158000
49000
23000
-57000
-73000
1076000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 11</font> – <font style="text-decoration:underline">Equity</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">A.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">The Company’s share capital (in thousands of Ordinary Shares)</font></font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">Ordinary Shares</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019(*)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left; padding-bottom: 1.5pt">Issued and paid-up share capital as at December 31</td><td style="width: 1%; padding-bottom: 1.5pt"> </td>
<td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">4,179</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td>
<td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"><b>172,052</b></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 2pt">Authorized share capital</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">10,000</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><b>250,000</b></td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0px"></td>
<td style="width: 24px; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</font></td>
<td style="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following the approval of its shareholders on April 16, 2020, the board of directors of the Company approved a 1-for-50 reverse split of the Company’s share capital. The implementation of the reverse split resulted in a reduction in the issued and outstanding Ordinary Shares, and the increase of the par value per Ordinary Share from NIS 0.10 to NIS 5.00 per Ordinary Share. Concurrently with the reverse split, the Company effected a corresponding change in the ratio of ordinary shares to each of the Company’s ADSs, such that its ratio of ADSs to Ordinary Shares has changed from one (1) ADS representing fifty (50) Ordinary Shares to a new ratio of one (1) ADS representing one (1) Ordinary Share. The effective date of this reverse split was June 29, 2020. All options and warrants of the Company outstanding immediately prior to the reverse split were appropriately adjusted by dividing the number of Ordinary Shares into which the options and warrants are exercisable by 50 and multiplying the exercise price thereof by 50, as a result of the reverse split. All the figures in these financial statements relating to share capital were appropriately adjusted to reflect the above-mentioned reverse split.</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify; text-indent: -28.35pt"><font style="text-decoration:underline">Share
capital (in thousands of shares of NIS 5 par value)</font></p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">Ordinary Shares</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%">Issued as at January 1</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,931</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><b>4,179</b></td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Issued for cash during the period</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,600</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><b>163,542</b></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Conversion into shares of convertible notes during the period</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">610</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><b>1,395</b></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Exercise of warrants during the period</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">38</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><b>2,918</b></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt">Exercise of share options during the period</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><b>18</b></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 4pt">Issued and paid-in share capital as at December 31</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4,179</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><b>172,052</b></td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In April 2020, following approval of the general meeting of
the Company’s shareholders, the Company increased its authorized share capital by NIS 100,000,000, such that the authorized
share capital of the Company was NIS 150,000,000.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In May 2020, following approval of the general meeting of the
Company’s shareholders, the Company increased its authorized share capital by NIS 100,000,000, such that the authorized share
capital of the Company was NIS 250,000,000.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In June 2020, following approval of the general meeting of the
Company’s shareholders, the Company increased its authorized share capital by NIS 1,000,000,000, such that the authorized
share capital of the Company was NIS 1,250,000,000 divided into 250,000,000 Ordinary Shares, par value NIS 5.00 each.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">After the reporting date, on February 2021, following approval
of the general meeting of the Company’s shareholders, the Company increased its authorized share capital by NIS 1,250,000,000,
such that the authorized share capital of the Company was NIS 2,500,000,000 divided into 500,000,000 Ordinary Shares, par value
NIS 5.00 each.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">B.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Financing transactions </font></font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; font-size: 10pt"> </td>
<td style="width: 24px; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</font></td>
<td style="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2019, the Company issued, pursuant to a public offering in the United States, an aggregate of 1,600,000 ADSs, 1,600,000 non-tradable warrants with an exercise price of $8.625 per ADS and term of 5 years and 1,200,000 non-tradable rights to purchase shares with an exercise price of $7.50 per ADS and term of 6 months. In certain cases, the rights to purchase and the warrants may be exercised on a cashless basis. Therefore, the rights to purchase and the warrants are accounted for as derivative instruments which are classified as a liability and measured at fair value through profit or loss. The total gross consideration was $12,000,000 and was initially attributed to the financial liability for the rights to purchase and warrants based on their fair value in the amount of $10,201,000 and the remaining amount was attributed to the ADSs issued and recognized as an equity component in the amount of $1,799,000. Applicable issuance costs, amounting to $1,440,000, have been allocated in the same proportion as the allocation of the gross proceeds. An amount of $1,224,000 was considered as issuance costs allocated to the rights to purchase and the warrants and has been recorded in profit or loss as finance expense, while costs allocated as issuance costs of ADSs in the amount of $216,000 have been recorded in equity as a reduction of the share premium. The total net proceeds from the offering were approximately $10,560,000.</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">During the first quarter of 2019,
investors exercised 37,620 of the rights to purchase 37,620 Ordinary Shares for a total consideration of $282,000.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The value of the financial liability
in respect to the warrants was measured as of December 31, 2020, at an amount of approximately $10,892,000.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; font-size: 10pt"> </td>
<td style="width: 24px; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</font></td>
<td style="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In August 2019, the Company issued, pursuant to a securities purchase agreement, convertible promissory notes, in an aggregate principal amount of $4,276,000 and an additional approximately $2,700,000 to be received in two subsequent closings, bringing the expected total gross proceeds from this funding to approximately $7,000,000. The notes were convertible into the Company’s ADSs. As a part of this transaction, the Company issued non-tradable warrants to purchase 62,668,850 ADSs. The warrants have an exercise price equal to 125% of the conversion price of the convertible promissory notes, will be exercisable upon the six-month anniversary of issuance and will expire five years from the date of issuance. The total gross proceeds from the first closing were $4,276,000.</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The first tranche of the convertible
promissory notes was unsecured, had a maturity date of March 4, 2021, bore no interest except in an event of default and could
be converted, at the election of the holder, into ADSs at an initial per share conversion price of $2.90, subject to adjustments,
including among others, revenue targets and the conversion prices of the subsequent tranches. The convertible notes have been designated
as a financial liability measured at fair value through profit and loss since they were combined instruments including embedded
derivatives. The warrants are also classified as a financial liability that is measured at fair value through profit and loss as
neither the exercise price nor the number of shares to be issued is fixed. The rights for the future issuance of the convertible
notes and the warrants of the second and third tranches have been accounted for as derivatives.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The initial fair value of the
financial liabilities issued in the transaction at their issuance date has been evaluated in the amount of $11,609,000, while the
consideration received from this transaction was $4,276,000. The difference, in the amount of $7,333,000, has been allocated to
the convertible notes, warrants and rights to purchase recognized with respect to this transaction.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The allocation was based on the
proportion of the fair value of each instrument. The loss that has not been recognized for each instrument is amortized on a straight
line basis over the term of each instrument.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Accordingly, from the consideration
received, approximately $1,569,000 was attributed to the convertible notes of the first tranche, $1,902,000 was attributed to the
warrants of the first tranche, and a total of approximately $805,000 was attributed to the rights with respect to the second and
third tranches.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">During 2019 and until December
31, 2019, $1,767,400 of the principal amount of the convertible notes was converted into 609,448 ADSs. As a result of the conversion,
$2,003,000 of the loss that had not been initially recorded has been recognized as finance expenses in the year ended December
31, 2019.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Prior to February 4, 2020, an
additional of approximately $204,000 of the principal amount of the convertible notes was converted.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On February 4, 2020, the Company
and the holders of a significant portion of the remaining financial instruments agreed to amend the terms of this transaction such
that the conversion price of the convertible notes decreased to $1.74 per ADS, and the holders of such notes agreed to convert
such notes into ADSs. As a result, an aggregate of approximately $2,305,000 of the principal amount of the convertible notes was
converted. Additionally, the Company agreed to amend the exercise price of the warrants of the first tranche to $1.914 per ADS,
and the Company and the investors agreed to terminate substantially all remaining obligations in this transaction, including the
instruments to be issued under the second and third tranche.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">During the first quarter of 2020,
all the outstanding balance of the convertible notes was converted.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The fair value of the remaining
financial liabilities relating to the warrants issued in this transaction was measured as of December 31, 2020, at an amount of
approximately $745,000. See also Note 18.D - Financial Liabilities.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; font-size: 10pt"> </td>
<td style="width: 24px; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</font></td>
<td style="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2020, the Company issued, pursuant to several public offerings in the United States, an aggregate of 163,542,447 ADSs and 430,000 pre-funded warrants (that were converted to ADSs during 2020). The total gross proceeds from the offerings were approximately $710,013,000, before deducting underwriting discounts and commissions and other offering-related expenses. The total net proceeds from the offerings, after deducting issuance expenses, were approximately $650,115,000. As a part of those offerings, the Company issued a total of 7,365,289 non-tradable warrants to the underwriters. The warrants are accounted for as share-based payment expenses, see also note 17.</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">4.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">See also Note 21.A regarding public offerings after the reporting date.</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">C.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Treasury shares</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As of December 31, 2020, the
Company held 10,540 Ordinary Shares, constituting approximately 0.006% of its issued and paid up share capital.</p><br/>
0.10
5.00
the Company effected a corresponding change in the ratio of ordinary shares to each of the Company’s ADSs, such that its ratio of ADSs to Ordinary Shares has changed from one (1) ADS representing fifty (50) Ordinary Shares to a new ratio of one (1) ADS representing one (1) Ordinary Share. The effective date of this reverse split was June 29, 2020. All options and warrants of the Company outstanding immediately prior to the reverse split were appropriately adjusted by dividing the number of Ordinary Shares into which the options and warrants are exercisable by 50 and multiplying the exercise price thereof by 50, as a result of the reverse split. All the figures in these financial statements relating to share capital were appropriately adjusted to reflect the above-mentioned reverse split.
250000000
1250000000
500000000
1600000
1600000
8.625
P5Y
1200000
7.50
P6M
12000000
10201000
1799000
1440000
1224000
216000
10560000
37620
37620
282000
10892000
4276000
2700000
7000000
the Company issued non-tradable warrants to purchase 62,668,850 ADSs. The warrants have an exercise price equal to 125% of the conversion price of the convertible promissory notes, will be exercisable upon the six-month anniversary of issuance and will expire five years from the date of issuance. The total gross proceeds from the first closing were $4,276,000.
2.90
11609000
4276000
7333000
Accordingly, from the consideration received, approximately $1,569,000 was attributed to the convertible notes of the first tranche, $1,902,000 was attributed to the warrants of the first tranche, and a total of approximately $805,000 was attributed to the rights with respect to the second and third tranches.
1767400
609448
2003000
204000
1.74
2305000
1.914
745000
the Company issued, pursuant to several public offerings in the United States, an aggregate of 163,542,447 ADSs and 430,000 pre-funded warrants (that were converted to ADSs during 2020). The total gross proceeds from the offerings were approximately $710,013,000, before deducting underwriting discounts and commissions and other offering-related expenses. The total net proceeds from the offerings, after deducting issuance expenses, were approximately $650,115,000. As a part of those offerings, the Company issued a total of 7,365,289 non-tradable warrants to the underwriters. The warrants are accounted for as share-based payment expenses, see also note 17.
10540
0.00006
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">Ordinary Shares</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019(*)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left; padding-bottom: 1.5pt">Issued and paid-up share capital as at December 31</td><td style="width: 1%; padding-bottom: 1.5pt"> </td>
<td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">4,179</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td>
<td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"><b>172,052</b></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 2pt">Authorized share capital</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">10,000</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><b>250,000</b></td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0px"></td>
<td style="width: 24px; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</font></td>
<td style="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following the approval of its shareholders on April 16, 2020, the board of directors of the Company approved a 1-for-50 reverse split of the Company’s share capital. The implementation of the reverse split resulted in a reduction in the issued and outstanding Ordinary Shares, and the increase of the par value per Ordinary Share from NIS 0.10 to NIS 5.00 per Ordinary Share. Concurrently with the reverse split, the Company effected a corresponding change in the ratio of ordinary shares to each of the Company’s ADSs, such that its ratio of ADSs to Ordinary Shares has changed from one (1) ADS representing fifty (50) Ordinary Shares to a new ratio of one (1) ADS representing one (1) Ordinary Share. The effective date of this reverse split was June 29, 2020. All options and warrants of the Company outstanding immediately prior to the reverse split were appropriately adjusted by dividing the number of Ordinary Shares into which the options and warrants are exercisable by 50 and multiplying the exercise price thereof by 50, as a result of the reverse split. All the figures in these financial statements relating to share capital were appropriately adjusted to reflect the above-mentioned reverse split.</font></td></tr>
</table>
4179
172052
10000
250000
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">Ordinary Shares</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%">Issued as at January 1</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,931</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><b>4,179</b></td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Issued for cash during the period</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,600</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><b>163,542</b></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Conversion into shares of convertible notes during the period</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">610</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><b>1,395</b></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Exercise of warrants during the period</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">38</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><b>2,918</b></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt">Exercise of share options during the period</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><b>18</b></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 4pt">Issued and paid-in share capital as at December 31</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4,179</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><b>172,052</b></td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table>
1931
4179
1600
163542
610
1395
38
2918
18
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="text-decoration:underline">Note 12</font> – <font style="text-decoration:underline">Revenues</font></p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">For the year ended<br/>
December 31</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%">Consumables</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">190</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">650</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td>
<td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">554</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Support services</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">400</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">598</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">654</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt">Sales of printers</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,320</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,770</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">2,191</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt">Total</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,910</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,018</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">3,399</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Printers rental</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">190</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">52</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 4pt">Total revenue</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">5,100</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">7,070</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,399</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Revenues per geographical locations:</p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">For the year ended<br/>
December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; text-align: justify">U.S.</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,727</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">3,367</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td>
<td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">1,263</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Asia Pacific</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,239</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,591</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,362</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify; padding-bottom: 1.5pt">Europe and Israel(*)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,134</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,112</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">774</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Total revenue</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">5,100</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">7,070</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">3,399</td><td style="font-weight: bold; text-align: left"> </td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">(*)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The Company combined all revenues into the Europe and Israel geography, due to immateriality of the amounts.</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Timing of revenue recognition:</p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">For the year ended<br/>
December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; text-align: justify">Goods and services transferred over time</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">590</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">650</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td>
<td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">654</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Goods transferred at a point in time</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">4,510</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">6,420</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">2,745</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Total revenue</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">5,100</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">7,070</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">3,399</td><td style="font-weight: bold; text-align: left"> </td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The table below provides information
regarding receivables, contract assets and contract liabilities deriving from contracts with customers.</p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left">Open balances</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,816</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td>
<td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">713</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Contract liabilities</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">991</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">968</td><td style="font-weight: bold; text-align: left"> </td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The contract liabilities primarily
relate to the advance consideration received from customers for contracts giving yearly maintenance for the printer. The revenue
is recognized in a straight line basis over the contracts’ period.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Contract costs</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Management expects that commissions
paid to agents for obtaining contracts are recoverable. The Group applies the expedient included in IFRS 15.94 and recognizes incremental
costs for obtaining the contract as an expense as incurred, where the amortization period of the asset it would have otherwise
recognized is one year or less.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During 2020, the Company witnessed a significant
decrease in its revenues due to the effects of the COVID-19 pandemic. See also note 1.D.</p><br/>
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">For the year ended<br/>
December 31</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%">Consumables</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">190</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">650</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td>
<td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">554</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Support services</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">400</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">598</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">654</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt">Sales of printers</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,320</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,770</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">2,191</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt">Total</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,910</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,018</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">3,399</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Printers rental</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">190</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">52</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 4pt">Total revenue</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">5,100</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">7,070</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,399</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td></tr>
</table>
190000
650000
554000
400000
598000
654000
4320000
5770000
2191000
4910000
7018000
3399000
190000
52000
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">For the year ended<br/>
December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; text-align: justify">U.S.</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,727</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">3,367</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td>
<td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">1,263</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Asia Pacific</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,239</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,591</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,362</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify; padding-bottom: 1.5pt">Europe and Israel(*)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,134</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,112</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">774</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Total revenue</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">5,100</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">7,070</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">3,399</td><td style="font-weight: bold; text-align: left"> </td></tr>
</table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">(*)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The Company combined all revenues into the Europe and Israel geography, due to immateriality of the amounts.</font></td></tr>
</table>
2727000
3367000
1263000
1239000
1591000
1362000
1134000
2112000
774000
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">For the year ended<br/>
December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; text-align: justify">Goods and services transferred over time</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">590</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">650</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td>
<td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">654</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Goods transferred at a point in time</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">4,510</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">6,420</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">2,745</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Total revenue</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">5,100</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">7,070</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">3,399</td><td style="font-weight: bold; text-align: left"> </td></tr>
</table>
590000
650000
654000
4510000
6420000
2745000
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left">Open balances</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,816</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td>
<td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">713</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Contract liabilities</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">991</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">968</td><td style="font-weight: bold; text-align: left"> </td></tr>
</table>
991000
968000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="text-decoration:underline">Note 13</font> – <font style="text-decoration:underline">Cost of revenues</font></p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">For the year ended<br/>
December 31</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td>According to sources of revenue -</td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; padding-left: 9pt">Consumables</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">195</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">240</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td>
<td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">169</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-left: 9pt">Support services</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">403</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">855</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">629</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt; padding-left: 9pt">Sales of printers</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,938</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,192</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">765</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-left: 9pt">Printers rental</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">58</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">25</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt">Total</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,594</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4,312</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,563</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td></tr>
</table><br/>
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">For the year ended<br/>
December 31</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td>According to sources of revenue -</td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; padding-left: 9pt">Consumables</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">195</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">240</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td>
<td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">169</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-left: 9pt">Support services</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">403</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">855</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">629</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt; padding-left: 9pt">Sales of printers</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,938</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,192</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">765</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-left: 9pt">Printers rental</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">58</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">25</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt">Total</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,594</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4,312</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,563</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td></tr>
</table>
195000
240000
169000
403000
855000
629000
2938000
3192000
765000
58000
25000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="text-decoration:underline">Note 14</font> – <font style="text-decoration:underline">Further detail of profit or loss</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">For the year ended<br/> December 31</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A. <font style="text-decoration:underline">Research and development expenses, net</font></font></td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%">Payroll</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4,890</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4,834</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td>
<td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">6,531</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Materials</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,065</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,001</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">940</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Subcontractors</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">70</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">82</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">258</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Patent registration</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">70</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">144</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">160</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Depreciation</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">880</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,534</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,588</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Rental fees and maintenance</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">908</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">197</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">173</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">782</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">339</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">249</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">8,665</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">8,131</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">9,899</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Less – government grants</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(42</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(49</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(21</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">8,623</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">8,082</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">9,878</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B. <font style="text-decoration:underline">Sales and marketing expenses</font></font></td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Payroll</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2,226</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2,873</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,326</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Marketing, advertising and commissions</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,381</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,808</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">577</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Rental fees and maintenance</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">64</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">114</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">201</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Travel abroad</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">201</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">317</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">235</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Depreciation</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">186</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">212</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">223</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">201</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">145</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">35</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4,259</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">5,469</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">6,597</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C. <font style="text-decoration:underline">General and administrative expenses</font></font></td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Payroll</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">819</td><td style="text-align: left">(*)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">872</td><td style="text-align: left">(*)</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,377</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Share based payment expenses</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">206</td><td style="text-align: left">(*)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">155</td><td style="text-align: left">(*)</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">16,837</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Fees</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">22</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">22</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Professional services</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,114</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,358</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,064</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Directors pay</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">209</td><td style="text-align: left">(*)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">187</td><td style="text-align: left">(*)</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Office expenses</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">311</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">359</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">386</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Travel abroad</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">45</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">44</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Depreciation</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">78</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">76</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Rental fees and maintenance</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">91</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">43</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">46</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">107</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">159</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">435</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,002</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,270</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">20,287</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">D. <font style="text-decoration:underline">Finance income</font></font></td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Revaluation of liability in respect of government grants</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">58</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">75</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Exchange rate differences</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">123</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Revaluation of financial liabilities at fair value through profit or loss (**)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">8,707</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">Bank interest and fees</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">54</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">248</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">54</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">8,765</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">446</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-decoration: underline; text-align: left">Finance expense</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Exchange rate differences</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">127</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">151</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Bank fees</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">14</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">28</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Finance expense in respect of lease liability</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">425</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">390</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Revaluation of financial liabilities at fair value through profit or loss (**)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">12,825</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Fundraising expenses</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,693</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">Revaluation of liability in respect of government grants</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">265</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">392</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">2,283</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">13,243</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left">(*)</td><td style="text-align: justify">Reclassified.</td>
</tr></table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(**)</font></td>
<td style="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See Note 11.B regarding financing transactions that included issuance of financial instruments accounted at fair value through profit and loss.</font></td></tr>
</table><br/>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">For the year ended<br/> December 31</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A. <font style="text-decoration:underline">Research and development expenses, net</font></font></td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%">Payroll</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4,890</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4,834</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td>
<td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">6,531</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Materials</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,065</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,001</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">940</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Subcontractors</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">70</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">82</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">258</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Patent registration</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">70</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">144</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">160</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Depreciation</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">880</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,534</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,588</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Rental fees and maintenance</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">908</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">197</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">173</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">782</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">339</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">249</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">8,665</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">8,131</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">9,899</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Less – government grants</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(42</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(49</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(21</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">8,623</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">8,082</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">9,878</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B. <font style="text-decoration:underline">Sales and marketing expenses</font></font></td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Payroll</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2,226</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2,873</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,326</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Marketing, advertising and commissions</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,381</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,808</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">577</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Rental fees and maintenance</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">64</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">114</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">201</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Travel abroad</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">201</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">317</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">235</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Depreciation</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">186</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">212</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">223</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">201</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">145</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">35</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4,259</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">5,469</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">6,597</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C. <font style="text-decoration:underline">General and administrative expenses</font></font></td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Payroll</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">819</td><td style="text-align: left">(*)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">872</td><td style="text-align: left">(*)</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,377</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Share based payment expenses</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">206</td><td style="text-align: left">(*)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">155</td><td style="text-align: left">(*)</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">16,837</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Fees</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">22</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">22</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Professional services</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,114</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,358</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1,064</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Directors pay</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">209</td><td style="text-align: left">(*)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">187</td><td style="text-align: left">(*)</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Office expenses</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">311</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">359</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">386</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Travel abroad</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">45</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">44</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Depreciation</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">78</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">76</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Rental fees and maintenance</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">91</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">43</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">46</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">107</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">159</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">435</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,002</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,270</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">20,287</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">D. <font style="text-decoration:underline">Finance income</font></font></td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Revaluation of liability in respect of government grants</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">58</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">75</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Exchange rate differences</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">123</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Revaluation of financial liabilities at fair value through profit or loss (**)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">8,707</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">Bank interest and fees</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">54</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">248</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">54</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">8,765</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">446</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-decoration: underline; text-align: left">Finance expense</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Exchange rate differences</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">127</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">151</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Bank fees</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">14</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">28</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Finance expense in respect of lease liability</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">425</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">390</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Revaluation of financial liabilities at fair value through profit or loss (**)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">12,825</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Fundraising expenses</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,693</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">Revaluation of liability in respect of government grants</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">265</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">392</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">2,283</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">13,243</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr>
</table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left">(*)</td><td style="text-align: justify">Reclassified.</td>
</tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(**)</font></td>
<td style="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See Note 11.B regarding financing transactions that included issuance of financial instruments accounted at fair value through profit and loss.</font></td></tr>
</table>
4890000
4834000
6531000
1065000
1001000
940000
70000
82000
258000
70000
144000
160000
880000
1534000
1588000
908000
197000
173000
782000
339000
249000
8665000
8131000
9899000
42000
49000
21000
2226000
2873000
5326000
1381000
1808000
577000
64000
114000
201000
201000
317000
235000
186000
212000
223000
201000
145000
35000
4259000
5469000
6597000
819000
872000
1377000
206000
155000
16837000
32000
22000
22000
1114000
1358000
1064000
209000
187000
311000
359000
386000
45000
37000
44000
78000
76000
91000
43000
46000
107000
159000
435000
3002000
3270000
20287000
58000
75000
123000
8707000
54000
248000
127000
151000
14000
28000
425000
390000
12825000
1693000
265000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 15</font> – <font style="text-decoration:underline">Income Tax </font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">A.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Corporate tax rate</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Presented hereunder are the
tax rates relevant to the Company in the years 2018 to 2020:</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">2018 – 23%</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">2019 – 23%</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">2020 – 23%</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On December 22, 2016, the Knesset
plenum passed the Economic Efficiency Law (Legislative Amendments for Achieving Budget Objectives in the Years 2017 and 2018) –
2016, by which, inter alia, the corporate tax rate would be reduced from 25% to 23% in two steps. The first step will be to a rate
of 24% as from January 2017 and the second step will be to a rate of 23% as from January 2018.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As a result of the reduction
in the tax rate, the deferred tax balances as at December 31, 2019 and 2020 were calculated according to the new tax rates specified
in the Economic Efficiency Law (Legislative Amendments for Achieving Budget Objectives in the Years 2017 and 2018), at the tax
rate expected to apply on the date of reversal.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">B.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Benefits under the Law for the Encouragement of Industry (Taxes)</font></font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</font></td>
<td style="text-align: justify; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company and some of its subsidiaries qualify as “Industrial Companies” as defined in the Law for the Encouragement of Industry (Taxes) – 1969, and accordingly they are entitled to benefits, of which the most significant are, under limited conditions, the possibility of submitting consolidated tax returns with related Israeli companies and amortization in three equal annual portions of issuance expenses when registering shares for trading as from the date the shares of the company were registered.</font></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top">
<td> </td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company and certain subsidiaries are submitting a consolidated tax return to the tax authorities in accordance with the Law for the Encouragement of Industry (Taxes) – 1969. As a result, the companies are, inter alia, entitled to offset their losses from the taxable income of other companies, subject to compliance with certain conditions.</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">C.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Theoretical tax</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The following presents the adjustment
between the theoretical tax amount and the tax amount included in the financial statements:</p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">For the year ended<br/>
December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>Thousands<br/>
USD</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; text-align: justify">Total comprehensive loss</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(15,488</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(8,353</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(48,494</td><td style="width: 1%; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify; padding-bottom: 1.5pt">Statutory tax rate</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">23</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">23</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">23</td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Theoretical tax benefit</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(3,562</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(1,921</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(11,154</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Increase in tax liability due to:</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Non-deductible expenses</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">280</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">4,299</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">Losses and benefits for tax purposes for which no deferred taxes were recorded</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,282</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,846</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,855</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify; padding-bottom: 4pt">Taxes on income</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">D.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Tax assessments</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company has final tax assessments
until and including the 2017 tax year.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Nano Dimension Technologies
Ltd. has final tax assessments until and including the 2015 tax year.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">E.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Accumulated losses for tax purposes and other deductible temporary differences</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As of the reporting date, the
Group has net operating loss for tax purposes in the amount of approximately $79,688,000 and capital loss for tax purpose in the
amount of approximately $840,000.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As of December 31, 2020, the
Group has deductible temporary differences in the amount of approximately $31,634,000, mainly relating to funding expenses and
research and development expenses which are deductible over a period of three years for tax purposes.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group has not recognized
a tax asset for the aforesaid losses and deductible temporary differences, due to the uncertainty regarding the ability to utilize
those losses and deductible of temporary differences in the future.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E.</font></td>
<td style="font-size: 10pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Income Tax Regulations (Rules on Bookkeeping by Foreign Invested Companies and Certain Partnerships and Determination of their Taxable Income), 1986</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As a “Controller Foreign
Cooperation” (as defined in the Israeli Law for the Encouragement of Capital Investments-1959), the Company's management has
elected to apply Income Tax Regulations (Rules for Maintaining Accounting Records of Foreign Invested Companies and Certain Partnerships
and Determining Their Taxable Income) – 1986, from January 2018. Accordingly, its taxable income or loss is calculated in
US Dollars.</p><br/>
0.23
0.23
0.23
the Knesset plenum passed the Economic Efficiency Law (Legislative Amendments for Achieving Budget Objectives in the Years 2017 and 2018) – 2016, by which, inter alia, the corporate tax rate would be reduced from 25% to 23% in two steps. The first step will be to a rate of 24% as from January 2017 and the second step will be to a rate of 23% as from January 2018.
3
79688000
840000
31634000
P3Y
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">For the year ended<br/>
December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>Thousands<br/>
USD</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; text-align: justify">Total comprehensive loss</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(15,488</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(8,353</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(48,494</td><td style="width: 1%; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify; padding-bottom: 1.5pt">Statutory tax rate</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">23</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">23</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">23</td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Theoretical tax benefit</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(3,562</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(1,921</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(11,154</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Increase in tax liability due to:</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Non-deductible expenses</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">280</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">4,299</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">Losses and benefits for tax purposes for which no deferred taxes were recorded</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,282</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,846</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,855</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify; padding-bottom: 4pt">Taxes on income</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table>
15488000
8353000
48494000
0.23
0.23
0.23
3562000
1921000
11154000
280000
75000
4299000
3282000
1846000
6855000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 16</font> – <font style="text-decoration:underline">Loss per share</font></p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">For the year ended<br/>
December 31</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018(*)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019(*)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Weighted average of number of Ordinary Shares used in the calculation of basic and diluted loss per share (in thousands)(*)</td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">1,836</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">3,513</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">42,947</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify; padding-bottom: 4pt">Net loss used in calculation (thousands USD)</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">15,488</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">8,353</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">48,494</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In 2020, 22,810,291 options
and warrants (in 2019: 3,468,948 and 2018: 170,341) were excluded from the diluted weighted average number of Ordinary Shares calculation
as their effect would have been anti-dilutive.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 0.25in; text-align: left">(*)</td><td style="text-align: justify">All the figures in this note were adjusted to reflect the
1:50 reverse split effective June 29, 2020, see note 11.A.</td>
</tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Weighted average number of Ordinary
Shares:</p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended<br/>
December 31</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018(*)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019(*)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td> </td>
<td colspan="2" style="text-align: center">Thousands <br/> of</td><td> </td><td> </td>
<td colspan="2" style="text-align: center">Thousands <br/> of</td><td> </td><td> </td>
<td colspan="2" style="text-align: center"><b>Thousands <br/> of</b></td><td> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td> </td>
<td colspan="2" style="text-align: center">shares of <br/> NIS 5.0</td><td> </td><td> </td>
<td colspan="2" style="text-align: center">shares of <br/> NIS 5.0</td><td> </td><td> </td>
<td colspan="2" style="text-align: center"><b>shares of <br/> NIS 5.0</b></td><td> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">par value</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">par value</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>par value</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; text-align: justify">Balance as at January 1</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,240</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,932</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4,179</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Effect of share options exercised</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">135</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">9</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Effect of warrants exercised</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,184</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Effect of conversion of notes</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,236</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Effect of shares issued during the year</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">595</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,446</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">36,339</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Weighted average number of Ordinary Shares used to calculate basic and diluted earnings (loss) per share as at December 31</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,836</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">3,513</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">42,947</td><td style="text-align: left"> </td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">(*)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">All the figures in this note were adjusted to reflect the 1:50 reverse split effective June 29, 2020, see note 11.A.</font></td></tr>
</table><br/>
22810291
3468948
170341
All the figures in this note were adjusted to reflect the 1:50 reverse split effective June 29, 2020, see note 11.A.
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">For the year ended<br/>
December 31</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018(*)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019(*)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Weighted average of number of Ordinary Shares used in the calculation of basic and diluted loss per share (in thousands)(*)</td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">1,836</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">3,513</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">42,947</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify; padding-bottom: 4pt">Net loss used in calculation (thousands USD)</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">15,488</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">8,353</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">48,494</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 0.25in; text-align: left">(*)</td><td style="text-align: justify">All the figures in this note were adjusted to reflect the
1:50 reverse split effective June 29, 2020, see note 11.A.</td>
</tr></table>
1836000
3513000
42947000
-15488000
-8353000
-48494000
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended<br/>
December 31</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018(*)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019(*)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>2020</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td> </td>
<td colspan="2" style="text-align: center">Thousands <br/> of</td><td> </td><td> </td>
<td colspan="2" style="text-align: center">Thousands <br/> of</td><td> </td><td> </td>
<td colspan="2" style="text-align: center"><b>Thousands <br/> of</b></td><td> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td> </td>
<td colspan="2" style="text-align: center">shares of <br/> NIS 5.0</td><td> </td><td> </td>
<td colspan="2" style="text-align: center">shares of <br/> NIS 5.0</td><td> </td><td> </td>
<td colspan="2" style="text-align: center"><b>shares of <br/> NIS 5.0</b></td><td> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">par value</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">par value</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>par value</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; text-align: justify">Balance as at January 1</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,240</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,932</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4,179</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Effect of share options exercised</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">135</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">9</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Effect of warrants exercised</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,184</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify">Effect of conversion of notes</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,236</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Effect of shares issued during the year</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">595</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,446</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">36,339</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Weighted average number of Ordinary Shares used to calculate basic and diluted earnings (loss) per share as at December 31</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,836</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">3,513</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">42,947</td><td style="text-align: left"> </td></tr>
</table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">(*)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">All the figures in this note were adjusted to reflect the 1:50 reverse split effective June 29, 2020, see note 11.A.</font></td></tr>
</table>
1240000
1932000
4179000
1000
135000
9000
1184000
1236000
595000
1446000
36339000
1836000
3513000
42947000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 17</font> – <font style="text-decoration:underline">Share-based payment</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">A.</font></td>
<td style="text-align: justify">During 2018, the Company granted
to employees, a consultant and officers 2,652,500 non-tradable share options, which are exercisable into 2,652,500 Ordinary Shares.
The share options vest over a period of one to three years. The share options will be exercisable during the earlier of a period
of four years from the vesting date, or 90 days from the end of employment date in consideration for an exercise price ranging
between $0.28 to $1.59 for each share option. Some of the share options include a cashless exercise mechanism.</td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During 2019, the Company granted
to employees, officers and consultants 6,029,000 non-tradable share options, which are exercisable into 6,029,000 Ordinary Shares.
The share options vest over a period of three years. The share options will be exercisable during the earlier of a period of four
years from the vesting date, or 90 days from the end of employment date in consideration for an exercise price ranging between
$0.14 to $0.17 for each share option. Some of the share options include a cashless exercise mechanism.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During 2019, the Company granted
to employees 2,723,500 restricted shares units (“RSUs”). The RSUs represent the right to receive Ordinary Shares at
a future time and vest over a period of three years.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During 2020, the Company granted
to employees, officers and consultants 5,400,000 non-tradable share options, which are exercisable into 5,400,000 Ordinary Shares.
The share options vest over a period of three years. The share options will be exercisable during the earlier of a period of four
years from the vesting date, or 90 days from the end of employment date in consideration for an exercise price ranging between
$0.70 to $4.12 for each share option. Some of the share options include a cashless exercise mechanism.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During 2020, the Company granted
to employees 1,530,000 RSUs. The RSUs represents the right to receive Ordinary Shares at a future time and vest over a period of
three years.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During 2020, the Company granted
to underwriters in public offerings in the U.S. an aggregate of 7,365,289 warrants, which are exercisable into 7,365,289 Ordinary
Shares. The exercise prices range between $0.875 to $9.375 for each warrant. The warrants are exercisable 6 months from the issuance
date, and expire 5 years after the issuance date.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">B.</font></td>
<td style="text-align: justify">In January 2018, the Company
issued non-tradable share options to purchase 300,000 Ordinary Shares to directors of the Company at an exercise price of $1.59
per share. The share options will vest in 12 equal quarterly batches over a period of three years. The share options will be exercisable
during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date. 275,000 of the
share options include a cashless exercise mechanism.</td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In July 2019, the Company issued
non-tradable share options to purchase 2,545,000 Ordinary Shares to directors of the Company at an exercise price of $0.15 per
share. One third of the share options will vest after one year from the grant date, and the remaining will vest in eight equal
quarterly batches over a period of two years. The share options will be exercisable during the earlier of a period of four years
from the vesting date, or 90 days from the end of employment date.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In July 2020, the Company issued
non-tradable share options to purchase 440,000 Ordinary Shares to directors of the Company at an exercise price of $0.70 per share.
The share options are vested over a period of no more than 3 years from the grant date. The share options will be exercisable during
the earlier of a period of four years from the vesting date, or 90 days from the end of employment date.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In December 2019, the
Company signed an agreement for options grants in January 2, 2020 to purchase 286,172 ADSs with Yoav Stern, the
Company’s Chief Executive Officer (“CEO”) and President, with an exercise price of $2.86 per ADS. The
vesting start date of the share options is January 2, 2020.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In March 2020, the Company issued
options to purchase 294,828 ADSs to Yoav Stern, the Company’s CEO and President, with an exercise price of $1.09 per ADS.
99.9% of the options vest at the grant date, and the remaining options will vest 3 years after the grant date.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In August 2020, following the
approval of our shareholders, in consideration for his services as the Company’s President and CEO, and as appropriate incentive,
the Company entered into a private placement of warrants (the “Stern Transaction”) with its CEO and President, Mr.
Yoav Stern. In consideration of $150,000, the Company issued to Mr. Stern warrants to purchase 6,880,402 ADSs of the Company.
The warrants have an exercise price of $0.75 per ADS, will vest over a period of two and a half years and will expire after 7
years. Simultaneously with the issuance of the warrants, Mr. Stern forfeited options to purchase 581,000 ADSs, previously granted
to him, as described above. In addition, as long as Mr. Stern is employed by the Company or is a member of the Company’s
board of directors, Mr. Stern may invest an additional amount up to $50,000 to buy Series B Warrants, in an amount equal to 10%
of the Company’s fully diluted capital. The exercise price per ADS under the Series B Warrants will be the average of the
daily volume weighted average price of the ADSs for the 10 consecutive trading days ending on the trading day that is immediately
prior to the date of the applicable notice to purchase the Series B Warrants. The grant of the warrants was treated as a modification
of the terms of equity-classified share based payment under IFRS 2. The fair value of the grant was measured at the grant date
in an amount of approximately $18.7 million, and is recorded as share-based compensation expenses through the vesting period.
In the same general meeting that approved the Stern Transaction, the Company’s shareholders approved the amended terms of
compensation of the Company’s CEO and President. After the reporting date, in January 2021, Mr. Stern exercised 30% of the
series A warrants.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In September 2020, the Company
issued 1,500,000 warrants to purchase 1,500,000 ADSs to the Company’s director, Mr. Yaron Eitan, in consideration of $150,000.
The warrants have an exercise price of $2.25 per ADS, will vest over a period of three years and will expire after 7 years.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">C.</font></td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of share options is measured
using the Black-Scholes formula or the Binomial pricing model. Measurement inputs include the share price on the measurement date,
the exercise price of the instrument, expected volatility (based on the weighted average volatility of the Company’s shares,
over the expected term of the options), expected term of the options (based on general option holder behavior and expected share
price), expected dividends, and the risk-free interest rate (based on government debentures).</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is the data used in determining the fair value
of the share options granted: </p></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td>
<td style="text-align: center"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.A-<br/>
Consultants and Employees</font></td>
<td style="text-align: center"> </td>
<td style="text-align: center"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.B-<br/>
Directors and CEO (*)</font></td>
<td style="text-align: center"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 62%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number of share options granted</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="white-space: nowrap; width: 15%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14,638,264 </font></td>
<td style="white-space: nowrap; width: 2%"> </td>
<td style="white-space: nowrap; width: 1%"> </td>
<td style="white-space: nowrap; width: 1%"> </td>
<td style="white-space: nowrap; width: 15%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,942,202</font></td>
<td style="width: 2%">(*)</td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value in the grant date (thousands USD)</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">43,979</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,434</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Range of share price (USD)</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.74-89.83</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.38-94.64</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Range of exercise price (USD)</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0-114.77</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.7-92.04</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Range of expected share price volatility</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40.3%-104.96</font></td>
<td style="white-space: nowrap"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">53.75-104.96</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Range of estimated life (years)</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4-9</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4-7</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Range of weighted average of risk-free interest rate</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.36-1.98</font></td>
<td style="white-space: nowrap"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.88%-1.32</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expected dividend yield</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding as of December 31, 2020</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,603,828</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,839,482</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable as of December 31, 2020</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">880,734</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,679,113</font></td>
<td> </td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0"></td>
<td style="width: 0.25in; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</font></td>
<td style="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The options granted to directors and the CEO do not include the series B warrants which the CEO is entitled to purchase, since the number of those warrants is not yet determined.</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">D.</font></td>
<td style="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The number of share options and RSUs granted to employees and consultants, and included in Note 17.A are as follows:</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2019(*)</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2020</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 76%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at January 1</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">112,944</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">521,138</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted during the year</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">461,223</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14,295,289</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercised during the year</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(24</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,703,902</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forfeited or expired during the year</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(53,005</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(508,697</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at December 31</font></td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">521,138</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,603,828</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable as of December 31</font></td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">53,831</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">880,734</font></td>
<td> </td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The number of share
options granted to directors and the CEO included in Note 17.B are as follows:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2019</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2020</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 76%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at January 1</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">41,400</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">78,435</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted during the year</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50,900</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,820,402</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercised during the year</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forfeited or expired during the year</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(13,865</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(59,355</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at December 31</font></td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">78,435</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,839,482</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable as of December 31</font></td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40,275</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,679,113</font></td>
<td> </td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E.</font></td>
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The share-based payments expenses in 2020 were $20,502,000 (in 2019: $445,000). In addition, the fair value of the warrants granted to underwriters in 2020 were $25,718,000 and has been recorded as a deduction of share premium.</font></td></tr>
</table><br/>
2652500
2652500
The share options vest over a period of one to three years.
0.28
1.59
6029000
6029000
0.14
0.17
During 2019, the Company granted to employees 2,723,500 restricted shares units (“RSUs”). The RSUs represent the right to receive Ordinary Shares at a future time and vest over a period of three years.
5400000
5400000
The share options vest over a period of three years.
0.70
4.12
the Company granted to employees 1,530,000 RSUs. The RSUs represents the right to receive Ordinary Shares at a future time and vest over a period of three years.
7365289
7365289
0.875
9.375
The warrants are exercisable 6 months from the issuance date, and expire 5 years after the issuance date.
300000
1.59
The share options will vest in 12 equal quarterly batches over a period of three years. The share options will be exercisable during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date. 275,000 of the share options include a cashless exercise mechanism. In July 2019, the Company issued non-tradable share options to purchase 2,545,000 Ordinary Shares to directors of the Company at an exercise price of $0.15 per share. One third of the share options will vest after one year from the grant date, and the remaining will vest in eight equal quarterly batches over a period of two years. The share options will be exercisable during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date.
2545000
0.15
One third of the share options will vest after one year from the grant date, and the remaining will vest in eight equal quarterly batches over a period of two years. The share options will be exercisable during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date.
One third of the share options will vest after one year from the grant date, and the remaining will vest in eight equal quarterly batches over a period of two years. The share options will be exercisable during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date.
440000
0.70
286172
2.86
The vesting start date of the share options is January 2, 2020.
294828
1.09
0.999
the remaining options will vest 3 years after the grant date.
3 years
150000
6880402
The warrants have an exercise price of $0.75 per ADS, will vest over a period of two and a half years and will expire after 7 years.
0.75
581000
In addition, as long as Mr. Stern is employed by the Company or is a member of the Company’s board of directors, Mr. Stern may invest an additional amount up to $50,000 to buy Series B Warrants, in an amount equal to 10% of the Company’s fully diluted capital.
18700000
0.30
1500000
150000
The warrants have an exercise price of $2.25 per ADS, will vest over a period of three years and will expire after 7 years.
2.25
20502000
445000
25718000
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td>
<td style="text-align: center"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.A-<br/>
Consultants and Employees</font></td>
<td style="text-align: center"> </td>
<td style="text-align: center"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.B-<br/>
Directors and CEO (*)</font></td>
<td style="text-align: center"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 62%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number of share options granted</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="white-space: nowrap; width: 15%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14,638,264 </font></td>
<td style="white-space: nowrap; width: 2%"> </td>
<td style="white-space: nowrap; width: 1%"> </td>
<td style="white-space: nowrap; width: 1%"> </td>
<td style="white-space: nowrap; width: 15%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,942,202</font></td>
<td style="width: 2%">(*)</td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value in the grant date (thousands USD)</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">43,979</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,434</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Range of share price (USD)</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.74-89.83</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.38-94.64</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Range of exercise price (USD)</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0-114.77</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.7-92.04</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Range of expected share price volatility</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40.3%-104.96</font></td>
<td style="white-space: nowrap"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">53.75-104.96</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Range of estimated life (years)</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4-9</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4-7</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Range of weighted average of risk-free interest rate</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.36-1.98</font></td>
<td style="white-space: nowrap"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.88%-1.32</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expected dividend yield</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding as of December 31, 2020</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,603,828</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,839,482</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable as of December 31, 2020</font></td>
<td> </td>
<td> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">880,734</font></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,679,113</font></td>
<td> </td></tr>
</table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0"></td>
<td style="width: 0.25in; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</font></td>
<td style="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The options granted to directors and the CEO do not include the series B warrants which the CEO is entitled to purchase, since the number of those warrants is not yet determined.</font></td></tr>
</table>
14638264
8942202
43979000
23434000
0.74
89.83
1.38
94.64
0
114.77
0.7
92.04
0.403
1.0496
0.5375
1.0496
P4Y
P9Y
P4Y
P7Y
0.0036
0.0198
0.0088
0.0132
12603828
8839482
880734
8679113
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2019(*)</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2020</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 76%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at January 1</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">112,944</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">521,138</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted during the year</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">461,223</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14,295,289</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercised during the year</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(24</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,703,902</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forfeited or expired during the year</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(53,005</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(508,697</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at December 31</font></td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">521,138</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,603,828</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable as of December 31</font></td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">53,831</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">880,734</font></td>
<td> </td></tr>
</table>
112944000
521138000
461223000
14295289000
-24000
-1703902000
-53005000
-508697000
12603828000
53831000
880734000
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2019</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2020</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 76%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at January 1</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">41,400</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">78,435</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted during the year</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50,900</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,820,402</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercised during the year</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forfeited or expired during the year</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(13,865</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(59,355</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at December 31</font></td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">78,435</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,839,482</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable as of December 31</font></td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40,275</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,679,113</font></td>
<td> </td></tr>
</table>
41400000
78435000
50900000
8820402000
-13865000
-59355000
8839482000
40275000
8679113000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 18</font> – <font style="text-decoration:underline">Financial instruments</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">A.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Risk management policy</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The actions of the Group expose it to various financial risks,
such as a market risk (including a currency risk, fair value risk regarding interest rate and price risk), credit risk, liquidity
risk and cash flow risk for the interest rate. The comprehensive risk-management policy of the Group focuses on actions to limit
the potential negative impacts on financial performance of the Group to a minimum. The Group does not typically use derivative
financial instruments in order to hedge exposures. Risk management is performed by the Group’s CEO in accordance with the
policy approved by the board of directors.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">B.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Credit risk</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Group does not have a significant
concentration of credit risks.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The cash of the Group is deposited
in Israeli and U.S. banking corporations. In the estimation of the Group’s management, the credit risk for these financial
instruments is low.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In the estimation of the Group’s
management, it does not have any expected credit losses.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">C.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Currency risk </font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A currency risk is the risk
of fluctuations in a financial instrument, as a result of changes in the exchange rate of the foreign currency.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The following is the
classification and linkage terms of the financial instruments of the Group (in thousands USD):</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">NIS</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Linked to the U.S. dollar</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Linked to the Euro and other</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt"></td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"><font style="text-decoration:underline">December 31, 2020</font></td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%">Cash</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,057</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">584,205</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">76</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">585,338</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Bank deposits</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">85,596</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">85,596</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Restricted deposits</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">406</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">62</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">468</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Trade receivables</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">534</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">162</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">713</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Other receivables</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">410</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">429</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,890</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">670,416</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">238</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">672,544</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 4pt">Financial liabilities at amortized cost</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4,366</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">16,134</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">45</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">20,545</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 4pt">Total net financial assets (liabilities)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(2,476</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">654,282</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">193</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">651,999</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-decoration: underline">December 31, 2019</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Cash</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">348</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">3,536</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">3,894</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Restricted deposits</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">377</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">31</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">408</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Trade receivables</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,586</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">230</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,816</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">Other receivables</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">342</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">342</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,067</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,153</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">240</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,460</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 4pt">Financial liabilities at amortized cost</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4,503</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">6,740</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">13</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">11,256</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 4pt">Total net financial assets (liabilities)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(3,436</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(1,587</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">227</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(4,796</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The following is a
sensitivity analysis of changes in the exchange rate of the NIS as of the reporting date:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Profit (loss) <br/>
from the change</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thousands<br/>
USD</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 89%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increase at a rate of 5%</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 8%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(124</font></td>
<td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increase at a rate of 10%</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(248</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Decrease at a rate of 5%</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">124</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Decrease at a rate of 10%</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">248</font></td>
<td> </td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">D.</font></td>
<td><font style="font-size: 10pt"><font style="text-decoration:underline">Fair value of financial instruments</font></font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="14" style="text-align: center; border-bottom: Black 1.5pt solid">December 31, 2020</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="font-weight: bold">Financial liabilities:</td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%">Warrants</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">         -</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">11,636</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">    -</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">11,636</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">Financial derivatives</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">350</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">350</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt">Total</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">11,986</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">11,986</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="14" style="text-align: center; border-bottom: Black 1.5pt solid">December 31, 2019</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="font-weight: bold">Financial liabilities:</td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%">Warrants</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">       -</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">793</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,364</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,157</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Convertible notes</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,223</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,223</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Financial derivatives</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">318</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">318</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 2pt">Total</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">793</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">2,905</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,698</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><font style="text-decoration:underline">Details regarding fair value measurement at Level
2</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The fair value of the warrants was measured using
the Black-Scholes model. The following inputs were used to determine the fair value:</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.85pt">Expected term of warrant (1) – 3.1-3.68
years.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Expected volatility (2) – 118.77%-128.1%.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Risk-free rate (3) – 0.17%.-0.24%</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Expected dividend yield – 0%.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">(1)</font></td>
<td><font style="font-size: 10pt">Based on contractual terms.</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">(2)</font></td>
<td><font style="font-size: 10pt">Based on the historical volatility of the Company’s Ordinary Shares and ADSs.</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">(3)</font></td>
<td><font style="font-size: 10pt">Based on traded zero-coupon U.S. treasury bonds with maturity equal to expected terms.</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">E.</font></td>
<td><font style="font-size: 10pt"><font style="text-decoration:underline">Liquidity risk</font></font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The table below presents the
repayment dates of the Group’s financial liabilities based on the contractual terms in undiscounted amounts:</p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">First year</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">More than a year</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Total</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Thousands<br/>
USD</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Thousands<br/>
USD</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Thousands<br/>
USD</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt; text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">December 31, 2020</font></font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center"> </td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; text-align: justify"><font style="font-size: 10pt">Trade payables</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">776</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">776</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"><font style="font-size: 10pt">Other payables</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">5,910</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">5,910</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt; text-align: justify"><font style="font-size: 10pt">Lease liabilities</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">2,618</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">2,618</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt; text-align: justify"><font style="font-size: 10pt">Liability in respect of government grants</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">850</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">850</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt; text-align: justify"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">6,686</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">3,468</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">10,154</font></td>
<td style="padding-bottom: 2pt"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">December 31, 2019</font></font></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify"><font style="font-size: 10pt">Trade payables</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">850</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">850</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"><font style="font-size: 10pt">Other payables</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">3,547</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">28</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">3,575</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt; text-align: justify">Lease liabilities</td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">2,089</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">2,089</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt; text-align: justify"><font style="font-size: 10pt">Liability in respect of government grants</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">1,044</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">1,044</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt; text-align: justify"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">4,397</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">3,161</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">7,558</font></td>
<td style="padding-bottom: 2pt"> </td></tr>
</table><br/>
P3Y36D
P3Y248D
1.1877
1.281
0.0017
0.0024
0.00
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">NIS</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Linked to the U.S. dollar</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Linked to the Euro and other</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt"></td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"><font style="text-decoration:underline">December 31, 2020</font></td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%">Cash</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,057</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">584,205</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">76</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">585,338</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Bank deposits</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">85,596</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">85,596</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Restricted deposits</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">406</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">62</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">468</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Trade receivables</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">534</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">162</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">713</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Other receivables</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">410</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">429</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,890</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">670,416</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">238</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">672,544</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 4pt">Financial liabilities at amortized cost</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4,366</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">16,134</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">45</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">20,545</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 4pt">Total net financial assets (liabilities)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(2,476</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">654,282</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">193</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">651,999</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-decoration: underline">December 31, 2019</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Cash</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">348</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">3,536</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">3,894</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Restricted deposits</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">377</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">31</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">408</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Trade receivables</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,586</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">230</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,816</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">Other receivables</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">342</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">342</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,067</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,153</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">240</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,460</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 4pt">Financial liabilities at amortized cost</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4,503</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">6,740</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">13</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">11,256</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 4pt">Total net financial assets (liabilities)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(3,436</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(1,587</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">227</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(4,796</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr>
</table>
1057000
584205000
76000
85596000
85596000
406000
62000
468000
17000
534000
162000
713000
410000
19000
429000
1890000
670416000
238000
672544000
4366000
16134000
45000
20545000
-2476000
654282000
193000
651999000
348000
3536000
10000
377000
31000
408000
1586000
230000
1816000
342000
342000
1067000
5153000
240000
6460000
4503000
6740000
13000
11256000
-3436000
-1587000
227000
-4796000
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Profit (loss) <br/>
from the change</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thousands<br/>
USD</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 89%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increase at a rate of 5%</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 8%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(124</font></td>
<td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increase at a rate of 10%</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(248</font></td>
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Decrease at a rate of 5%</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">124</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Decrease at a rate of 10%</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">248</font></td>
<td> </td></tr>
</table>
-124000
-248000
124000
248000
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="14" style="text-align: center; border-bottom: Black 1.5pt solid">December 31, 2020</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="font-weight: bold">Financial liabilities:</td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%">Warrants</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">         -</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">11,636</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">    -</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">11,636</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">Financial derivatives</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">350</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">350</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt">Total</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">11,986</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">11,986</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="14" style="text-align: center; border-bottom: Black 1.5pt solid">December 31, 2019</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/> USD</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="font-weight: bold">Financial liabilities:</td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td><td> </td>
<td colspan="2" style="text-align: right"> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%">Warrants</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">       -</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">793</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,364</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,157</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Convertible notes</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,223</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,223</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Financial derivatives</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">318</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">318</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 2pt">Total</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">793</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">2,905</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,698</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table>
11636000
11636000
350000
350000
11986000
11986000
793000
1364000
2157000
1223000
1223000
318000
318000
793000
2905000
3698000
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">First year</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">More than a year</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Total</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Thousands<br/>
USD</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Thousands<br/>
USD</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">Thousands<br/>
USD</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt; text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">December 31, 2020</font></font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center"> </td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; text-align: justify"><font style="font-size: 10pt">Trade payables</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">776</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">776</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"><font style="font-size: 10pt">Other payables</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">5,910</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">5,910</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt; text-align: justify"><font style="font-size: 10pt">Lease liabilities</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">2,618</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">2,618</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt; text-align: justify"><font style="font-size: 10pt">Liability in respect of government grants</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">850</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">850</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt; text-align: justify"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">6,686</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">3,468</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">10,154</font></td>
<td style="padding-bottom: 2pt"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">December 31, 2019</font></font></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify"><font style="font-size: 10pt">Trade payables</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">850</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">850</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"><font style="font-size: 10pt">Other payables</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">3,547</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">28</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">3,575</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt; text-align: justify">Lease liabilities</td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">2,089</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">2,089</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt; text-align: justify"><font style="font-size: 10pt">Liability in respect of government grants</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">1,044</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">1,044</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt; text-align: justify"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">4,397</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">3,161</font></td>
<td style="padding-bottom: 2pt"> </td>
<td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">7,558</font></td>
<td style="padding-bottom: 2pt"> </td></tr>
</table>
776000
776000
5910000
5910000
2618000
2618000
850000
6686000
3468000
10154000
850000
850000
3547000
28000
3575000
2089000
2089000
1044000
4397000
3161000
7558000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 19</font> – <font style="text-decoration:underline">Leases</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group applies IFRS 16 as from January
1, 2019. The Group has lease agreements with respect to the following items:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">1.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">Offices, labs and manufacturing facilities</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">2.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">Vehicles</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Information regarding material lease
agreements</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"> </td>
<td style="width: 0.25in"><font style="font-size: 10pt">a.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">The Group leases vehicles for three-year periods from several different leasing companies and from time to time changes the number of leased vehicles according to its current needs. The leased vehicles are identified by means of license numbers and the vehicle’s registration, with the leasing companies not being able to switch vehicles, other than in cases of deficiencies. The leased vehicles are used by the Group’s headquarter staff, marketing and sales persons and other employees whose employment agreements include an obligation of the Group to put a vehicle at their disposal. The Group accounted for the arrangement between it and the leasing companies as a lease arrangement in the scope of IFRS 16 and for the arrangement between it and its employees as an arrangement in the scope of IAS 19, Employee Benefits. The agreements with the leasing companies do not contain extension and/or termination options that the Group is reasonably certain to exercise.</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A lease liability in the amount of $106,000 and right-of-use
asset in the amount of $91,000 have been recognized in the statement of financial position as at December 31, 2020 in respect of
leases of vehicles.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; font-size: 10pt"> </td>
<td style="width: 24px; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</font></td>
<td style="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group leases offices in Ness- Ziona from Africa-Israel for a period of five years under a few different contracts for three different floors used for offices, labs and manufacturing facilities, at the same building. The contractual periods of the aforesaid lease agreements end in August 2021, August 2024 and December 2023. The Group has an option to extend two of the lease agreements for an additional five years for an additional monthly fee (10% increase). The Company expects to extend the lease agreement ended in August 2021 for an additional five years. The Group also leases offices in Hong-Kong. The contractual period of the aforesaid lease agreement ended in February 2021. The Group also leases offices in the U.S. for a contractual period of three years, which ends in August 2023. A lease liability in the amount of $3,660,000 and right-of-use asset in the amount of $3,078,000 have been recognized in the statement of financial position as at December 31, 2020 in respect of leases of offices.</font></td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="text-decoration:underline">Right of use assets:</font></p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Buildings</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Vehicles</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt; text-align: center"> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt; text-align: center"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%">Balance as at January 1, 2019</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,687</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">204</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,891</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Depreciation</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">706</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">136</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">842</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Additions</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,525</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">99</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,624</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Balance as at January 1, 2020</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2,506</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">167</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2,673</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="font-weight: bold">Depreciation</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"></td><td style="font-weight: bold; text-align: right">740</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"></td><td style="font-weight: bold; text-align: right">116</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"></td><td style="font-weight: bold; text-align: right">856</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt; font-weight: bold">Disposals</td><td style="padding-bottom: 2pt; font-weight: bold"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2pt; font-weight: bold"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">69</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2pt; font-weight: bold"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">69</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 2pt; font-weight: bold">Additions</td><td style="padding-bottom: 2pt; font-weight: bold"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,312</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2pt; font-weight: bold"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">109</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2pt; font-weight: bold"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,421</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-weight: bold">Balance as at December 31, 2020</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">3,078</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">91</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">3,169</td><td style="font-weight: bold; text-align: left"> </td></tr>
</table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2020
and 2019, the Company paid a total of $1,118 thousands and $1,095 thousands, respectively, for lease payments.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">See also note 14 regarding finance expenses
in respect of lease liability.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Maturity analysis of the Group’s
lease liabilities:</p><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">December 31, <br/> 2020</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Less than one year</td><td> </td>
<td colspan="2" style="text-align: right">1,148</td><td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="width: 88%; text-align: justify; padding-bottom: 1.5pt">One to five years</td><td style="width: 1%; padding-bottom: 1.5pt"> </td>
<td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">2,618</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify; padding-bottom: 4pt">Total</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,766</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify; padding-bottom: 4pt">Current maturities of lease liability</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,148</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify; padding-bottom: 4pt">Long-term lease liability</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">2,618</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><br/>
106000
91000
The Group leases offices in Ness- Ziona from Africa-Israel for a period of five years under a few different contracts for three different floors used for offices, labs and manufacturing facilities, at the same building. The contractual periods of the aforesaid lease agreements end in August 2021, August 2024 and December 2023. The Group has an option to extend two of the lease agreements for an additional five years for an additional monthly fee (10% increase). The Company expects to extend the lease agreement ended in August 2021 for an additional five years. The Group also leases offices in Hong-Kong. The contractual period of the aforesaid lease agreement ended in February 2021. The Group also leases offices in the U.S. for a contractual period of three years, which ends in August 2023.
3660000
3078000
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Buildings</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Vehicles</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt; text-align: center"> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt; text-align: center"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%">Balance as at January 1, 2019</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,687</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">204</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,891</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Depreciation</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">706</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">136</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">842</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Additions</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,525</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">99</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,624</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Balance as at January 1, 2020</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2,506</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">167</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2,673</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="font-weight: bold">Depreciation</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"></td><td style="font-weight: bold; text-align: right">740</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"></td><td style="font-weight: bold; text-align: right">116</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"></td><td style="font-weight: bold; text-align: right">856</td><td style="font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2pt; font-weight: bold">Disposals</td><td style="padding-bottom: 2pt; font-weight: bold"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2pt; font-weight: bold"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">69</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2pt; font-weight: bold"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">69</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 2pt; font-weight: bold">Additions</td><td style="padding-bottom: 2pt; font-weight: bold"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,312</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2pt; font-weight: bold"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">109</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2pt; font-weight: bold"> </td>
<td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,421</td><td style="padding-bottom: 2pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-weight: bold">Balance as at December 31, 2020</td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">3,078</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">91</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td>
<td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">3,169</td><td style="font-weight: bold; text-align: left"> </td></tr>
</table>
1687000
204000
1891000
706000
136000
842000
1525000
99000
1624000
2506000
167000
2673000
740000
116000
856000
69000
69000
1312000
109000
1421000
3078000
91000
3169000
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">December 31, <br/> 2020</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify">Less than one year</td><td> </td>
<td colspan="2" style="text-align: right">1,148</td><td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="width: 88%; text-align: justify; padding-bottom: 1.5pt">One to five years</td><td style="width: 1%; padding-bottom: 1.5pt"> </td>
<td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">2,618</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify; padding-bottom: 4pt">Total</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,766</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify; padding-bottom: 4pt">Current maturities of lease liability</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,148</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: justify"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: justify; padding-bottom: 4pt">Long-term lease liability</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">2,618</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table>
1148000
2618000
3766000
2618000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Note 20</font> – <font style="text-decoration:underline">Transactions
and balances with related parties</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">A.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Balances with related parties</font></font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left; padding-bottom: 4pt">Other payables</td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">130</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">207</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">B.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"><font style="text-decoration:underline">Shareholders and other related parties benefits</font></font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended on December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; text-align: left; padding-bottom: 4pt">Salaries and related expenses- related parties employed by the Group</td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">829</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">1,047</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">18,252</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">(*)</td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 4pt">Number of related parties</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">5</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Compensation for directors not employed by the Group</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">311</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">218</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,204</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 2pt">Number of directors</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">7</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">6</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">6</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">(*)</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">Includes share-based payment expenses of $16,666,000, see note 17.B regarding warrants issued to the CEO.</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">C.</font></td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 20, 2017, the board
of directors of the Company approved a non-exceptional transaction in which Mr. Avi Reichental, a then director of the Company,
has a personal interest, for open innovation and show room agreements between Nano Dimension USA Inc. and XponentialWorks Inc.
and Techniplas, LLC, whereby the Company will lease space and use sales and marketing services in favor of the customer experience
center in Ventura, CA, as well as establish cooperation in the field of car electronics starting on December 1, 2017. In March
2019, the Company ceased the obligations with XponentialWorks Inc. and Techniplas. LLC.</p></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td> </td></tr>
<tr style="vertical-align: top">
<td><font style="font-size: 10pt">D.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">On November 12, 2019, the board of directors of the Company
approved an arms-length transaction in which Mr. Ofir Baharav, the former chairman of the board of directors of the Company, has
a personal interest, for an administrative services agreement between Nano Dimension USA Inc. and Breezer Holdings LLC, whereby
the Company will lease space and will use logistics services for the Company’s office in Boca Raton, Florida, starting on
February 1, 2020. In September 2020, the Company ceased this transaction.</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">E.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">On December 5, 2019, the Company announced the appointment of
Yoav Stern as CEO and President, effective January 2, 2020. See note 17.B regarding options granted to the CEO.</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">F.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt"></font>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 7, 2020, following approval of
the general meeting of the Company’s shareholders, the Company granted options to purchase 1,000,000 ADSs to officer and
additional 440,000 ADSs and directors of the Company at an exercise price of $0.70 per ADS. </p>
</td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">G.</font></td>
<td style="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 7, 2020, the Company issued warrants to the Company’s President and CEO, Mr. Yoav Stern. See note 17.B.</font></td></tr>
</table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">H.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">In August 2020, the Company issued warrants to the Company’s
director, Mr. Yaron Eitan, see note 17.B</font></td></tr>
</table><br/>
16666000
1000000
0.70
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left; padding-bottom: 4pt">Other payables</td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">130</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">207</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr>
</table>
130000
207000
<table cellpadding="0" cellspacing="0" style=" width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended on December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Thousands<br/>
USD</td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 64%; text-align: left; padding-bottom: 4pt">Salaries and related expenses- related parties employed by the Group</td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">829</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">1,047</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td>
<td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">18,252</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">(*)</td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 4pt">Number of related parties</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">4</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">5</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Compensation for directors not employed by the Group</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">311</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">218</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,204</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 2pt">Number of directors</td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">7</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">6</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">6</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr>
</table>
829000
1047000
18252000
4
4
5
311000
218000
2204000
7
6
6
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="text-decoration:underline">Note 21</font> – <font style="text-decoration:underline">Events after the reporting date</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 0.25in"><font style="font-size: 10pt">A.</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">After the reporting period, in January and February 2021, the Company issued, pursuant to two public offerings in the United States, an aggregate of 74,100,000 Ordinary Shares and 1,137,500 non-tradable warrants to the underwriters. The total gross proceeds from the offerings were approximately $833,000,000, before deducting underwriting discounts and commissions and other offering-related expenses.</font></td></tr>
</table><br/>
74100000
74100000
1137500
1137500
833000000