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DE 94-3078125 25 Recreation Park Drive Unit 108 Hingham MA 02043 (781) 875-3605 Common Stock MBOT NASDAQ Yes Yes Non-accelerated Filer true false false 8130628 2150000 2442000 2907000 5760000 3000 49000 77000 475000 532000 5581000 8814000 196000 221000 431000 502000 6208000 9537000 224000 116000 266000 283000 743000 1670000 1233000 2069000 127000 179000 1360000 2248000 0.01 0.01 60000000 60000000 8130628 8130628 7890628 7890628 83000 80000 76379000 75970000 -71614000 -68761000 4848000 7289000 6208000 9537000 1617000 1706000 1302000 1470000 -2919000 -3176000 66000 -13000 -2853000 -3189000 -0.36 -0.45 8013295 7108133 7108133 72000 69902000 -55593000 14381000 429000 429000 -3189000 -3189000 7108133 72000 70331000 -58782000 11621000 7890628 80000 75970000 -68761000 7289000 7890628 80000 75970000 -68761000 7289000 240000 3000 -3000 412000 412000 -2853000 -2853000 8130628 83000 76379000 -71614000 4848000 8130628 83000 76379000 -71614000 4848000 -2853000 -3189000 25000 21000 -1000 27000 412000 429000 -140000 -177000 -900000 -446000 -3203000 -3007000 16000 638000 1000000 2518000 3000 2883000 -16000 -320000 -3023000 2519000 13580000 2199000 10557000 35000 12000 121000 <p id="xdx_80A_eus-gaap--NatureOfOperations_z9UofYGwhGY2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 - <span id="xdx_829_zEtJ2MkuJ43i">GENERAL</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A. Description of business:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Microbot Medical Inc. (the “Company”) is a pre-clinical medical device company specializing in the research, design and development of next generation robotic endoluminal surgery devices targeting the minimally invasive surgery space. The Company is primarily focused on leveraging its robotic technologies with the goal of redefining surgical robotics while improving surgical outcomes for patients.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.65pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company incorporated on <span id="xdx_908_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331_zLCdimZINhad" title="Date of incorporation">August 2, 1988</span> in the State of Delaware under the name Cellular Transplants, Inc. The original Certificate of Incorporation was restated on February 14, 1992 to change the name of the Company to Cyto Therapeutics, Inc. On May 24, 2000, the Certificate of Incorporation as restated was further amended to change the name of the Company to StemCells, Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.65pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 28, 2016, the Company consummated a transaction pursuant to an Agreement and Plan of Merger, dated August 15, 2016, with Microbot Medical Ltd., a private medical device company organized under the laws of the State of Israel (“Microbot Israel”). On the same day and in connection with the Merger, the Company changed its name from StemCells, Inc. to Microbot Medical Inc. On November 29, 2016, the Company’s common stock, par value $<span id="xdx_90B_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20161129_zFEJkCnUPJx5" title="Common stock, par value">0.01</span> per share (the “Common Stock”) began trading on the Nasdaq Capital Market under the symbol “MBOT”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.65pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company and Microbot Israel, its sole subsidiary, are sometimes collectively referred to as the “Company” as the context may require.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B. Risk Factors:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To date, the Company has not generated revenues from its operations. As of March 31, 2023, the Company had cash equivalents and marketable securities balance of approximately $<span id="xdx_909_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iI_pn3n3_c20230331_zUNMVzku0A6l" title="Cash equivalents and marketable securities">5,057</span>, excluding encumbered cash, which management believes is sufficient to fund its operations for four months from the filing date of this Quarterly Report on Form 10-Q. Accordingly, as of such filing date, there is a substantial doubt as to the Company’s ability to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to continuing research and development activities, the Company expects to continue to incur additional losses for the foreseeable future. While management of the Company believes that it has sufficient funds until September 2023, the Company will seek to raise additional funds through future issuances of either debt and/or equity securities and possibly additional grants from the Israeli Innovation Authority and other government institutions. The Company’s ability to raise additional capital in the equity and debt markets is dependent on a number of factors, including, but not limited to, the market demand for the Company’s stock, which itself is subject to a number of development and business risks and uncertainties, as well as the uncertainty that the Company would be able to raise such additional capital at a price or on terms that are favorable to the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C. Use of estimates:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions pertaining to transactions and matters whose ultimate effect on the financial statements cannot precisely be determined at the time of financial statements preparation. Although these estimates are based on management’s best judgment, actual results may differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D. Unaudited Interim Financial Statements:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of U.S. Securities and Exchange Commission (“SEC”) regulations. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included (consisting only of normal recurring adjustments except as otherwise discussed).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating results for the three-month period ended March 31, 2023, are not necessarily indicative of the results that may be expected for the year ended December 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1988-08-02 0.01 5057000 <p id="xdx_80C_eus-gaap--SignificantAccountingPoliciesTextBlock_zxBoQvlhYDX7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 - <span id="xdx_824_zA05PDTJOPXe">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The significant accounting policies followed in the preparation of these unaudited interim condensed consolidated financial statements are identical to those applied in the preparation of the latest annual audited financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zO2UyaQKkyXd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_zbIRlx3BTDHc">Fair value of financial instruments:</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying values of cash and cash equivalents, other receivables and other accounts payable and accrued liabilities approximate their fair value due to the short-term maturity of these instruments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A fair value hierarchy is used to rank the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 1 </b>- Quoted prices (unadjusted) in active markets for identical assets and liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 2</b> - Inputs other than Level 1 that are observable, either directly or indirectly, such as unadjusted quoted prices for similar assets and liabilities, unadjusted quoted prices in the markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 3</b> - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zKkt5s3GPZV9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s financial assets subject to fair value measurement and the level of inputs used in such measurements as of March 31, 2023 and December 31, 2022:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/><span id="xdx_8BF_zyfbIsTUqY5h" style="display: none">SCHEDULE OF FINANCIAL ASSETS FAIR VALUE MEASUREMENT</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketable securities:</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: White"> <td style="width: 40%; text-align: left">U.S. treasury securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zcvbC7EZe6jb" style="width: 11%; text-align: right" title="Assets, fair value">1,270</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zvaK3TQXYK4" style="width: 11%; text-align: right" title="Assets, fair value">1,270</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_z9yz2UqgbnQ3" style="width: 11%; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0314">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zbHtNKNwmA7b" style="width: 11%; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0316">-</span></td><td style="width: 1%; 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">Money market mutual</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zKMEIDM7nCU2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value">1,637</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 id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zmFVtYeWY0f2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value">1,637</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 id="xdx_986_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zJWc0mJD7Jy3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0322">-</span></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 id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zQPf6VFoRznk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0324">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"/><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zMahU8ldtlMl" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value">2,907</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zpge2OTi3Czd" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value">2,907</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zLPhZKFL8cCd" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0330">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_znhKwe9jf2G8" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0332">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash equivalents:</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: White"> <td style="width: 40%; text-align: left; padding-bottom: 2.5pt">U.S. treasury securities</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashEquivalentsMember_zoNUhqSX2R4j" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Assets, fair value">1,247</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__us-gaap--CashEquivalentsMember_zWxUf2tgcNB5" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Assets, fair value">1,247</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__us-gaap--CashEquivalentsMember_zqpUNgkhplt8" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0338">-</span></td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__us-gaap--CashEquivalentsMember_z4c9OSmawWM" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0340">-</span></td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">U.S. treasury securities</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zNHR23DOV7ed" style="text-align: right" title="Assets, fair value">3,761</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zCQ9zxgFngn1" style="text-align: right" title="Assets, fair value">3,761</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zFmGGasP24xf" style="text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0346">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_ztZ2C4l0NgL6" style="text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0348">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Money market mutual funds</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_z33b0V1eBc35" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value">1,999</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 id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zlLKEGFiZovf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value">1,999</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 id="xdx_980_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zggJLd7Y9ot1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0354">-</span></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 id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zIXjESEeFr0a" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0356">-</span></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: 2.5pt"/><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zbjThOVQu3e5" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value">5,760</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zUskhvxFgJ2f" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value">5,760</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z15OrOjDzDz2" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0362">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zPZV3WcGiW91" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0364">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AF_z7oWlI4hhdJe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s financial assets are measured at fair value on a recurring basis by level within the fair value hierarchy. The Company’s securities and money market funds are classified as Level 1. Other than that, the Company doesn’t have any other financial assets or financial liabilities marked to market at fair value as of March 31, 2023 and December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84B_eus-gaap--CommitmentsAndContingenciesPolicyTextBlock_zrHIqeSYHMje" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zVB7zeFQwbw2">Contingencies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management records and discloses legal contingencies in accordance with ASC Topic 450 Contingencies. A provision is recorded when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company monitors the stage of progress of its litigation matters to determine if any adjustments are required.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zlKz5eGNsM3f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_869_z5dEjOZvapu6">Recently issued accounting pronouncements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43.1pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, new accounting pronouncements are issued by FASB, or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.</span></p> <p id="xdx_850_z2KDHjBxMuyd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zO2UyaQKkyXd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_zbIRlx3BTDHc">Fair value of financial instruments:</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying values of cash and cash equivalents, other receivables and other accounts payable and accrued liabilities approximate their fair value due to the short-term maturity of these instruments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A fair value hierarchy is used to rank the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 1 </b>- Quoted prices (unadjusted) in active markets for identical assets and liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 2</b> - Inputs other than Level 1 that are observable, either directly or indirectly, such as unadjusted quoted prices for similar assets and liabilities, unadjusted quoted prices in the markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 3</b> - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zKkt5s3GPZV9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s financial assets subject to fair value measurement and the level of inputs used in such measurements as of March 31, 2023 and December 31, 2022:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/><span id="xdx_8BF_zyfbIsTUqY5h" style="display: none">SCHEDULE OF FINANCIAL ASSETS FAIR VALUE MEASUREMENT</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketable securities:</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: White"> <td style="width: 40%; text-align: left">U.S. treasury securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zcvbC7EZe6jb" style="width: 11%; text-align: right" title="Assets, fair value">1,270</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zvaK3TQXYK4" style="width: 11%; text-align: right" title="Assets, fair value">1,270</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_z9yz2UqgbnQ3" style="width: 11%; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0314">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zbHtNKNwmA7b" style="width: 11%; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0316">-</span></td><td style="width: 1%; 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">Money market mutual</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zKMEIDM7nCU2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value">1,637</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 id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zmFVtYeWY0f2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value">1,637</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 id="xdx_986_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zJWc0mJD7Jy3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0322">-</span></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 id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zQPf6VFoRznk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0324">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"/><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zMahU8ldtlMl" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value">2,907</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zpge2OTi3Czd" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value">2,907</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zLPhZKFL8cCd" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0330">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_znhKwe9jf2G8" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0332">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash equivalents:</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: White"> <td style="width: 40%; text-align: left; padding-bottom: 2.5pt">U.S. treasury securities</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashEquivalentsMember_zoNUhqSX2R4j" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Assets, fair value">1,247</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__us-gaap--CashEquivalentsMember_zWxUf2tgcNB5" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Assets, fair value">1,247</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__us-gaap--CashEquivalentsMember_zqpUNgkhplt8" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0338">-</span></td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__us-gaap--CashEquivalentsMember_z4c9OSmawWM" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0340">-</span></td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">U.S. treasury securities</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zNHR23DOV7ed" style="text-align: right" title="Assets, fair value">3,761</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zCQ9zxgFngn1" style="text-align: right" title="Assets, fair value">3,761</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zFmGGasP24xf" style="text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0346">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_ztZ2C4l0NgL6" style="text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0348">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Money market mutual funds</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_z33b0V1eBc35" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value">1,999</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 id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zlLKEGFiZovf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value">1,999</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 id="xdx_980_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zggJLd7Y9ot1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0354">-</span></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 id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zIXjESEeFr0a" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0356">-</span></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: 2.5pt"/><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zbjThOVQu3e5" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value">5,760</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zUskhvxFgJ2f" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value">5,760</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z15OrOjDzDz2" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0362">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zPZV3WcGiW91" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0364">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AF_z7oWlI4hhdJe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s financial assets are measured at fair value on a recurring basis by level within the fair value hierarchy. The Company’s securities and money market funds are classified as Level 1. Other than that, the Company doesn’t have any other financial assets or financial liabilities marked to market at fair value as of March 31, 2023 and December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zKkt5s3GPZV9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s financial assets subject to fair value measurement and the level of inputs used in such measurements as of March 31, 2023 and December 31, 2022:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/><span id="xdx_8BF_zyfbIsTUqY5h" style="display: none">SCHEDULE OF FINANCIAL ASSETS FAIR VALUE MEASUREMENT</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketable securities:</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: White"> <td style="width: 40%; text-align: left">U.S. treasury securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zcvbC7EZe6jb" style="width: 11%; text-align: right" title="Assets, fair value">1,270</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zvaK3TQXYK4" style="width: 11%; text-align: right" title="Assets, fair value">1,270</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_z9yz2UqgbnQ3" style="width: 11%; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0314">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zbHtNKNwmA7b" style="width: 11%; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0316">-</span></td><td style="width: 1%; 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">Money market mutual</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zKMEIDM7nCU2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value">1,637</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 id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zmFVtYeWY0f2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value">1,637</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 id="xdx_986_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zJWc0mJD7Jy3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0322">-</span></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 id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zQPf6VFoRznk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0324">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"/><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zMahU8ldtlMl" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value">2,907</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zpge2OTi3Czd" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value">2,907</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zLPhZKFL8cCd" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0330">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20230331__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_znhKwe9jf2G8" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0332">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash equivalents:</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: White"> <td style="width: 40%; text-align: left; padding-bottom: 2.5pt">U.S. treasury securities</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashEquivalentsMember_zoNUhqSX2R4j" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Assets, fair value">1,247</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__us-gaap--CashEquivalentsMember_zWxUf2tgcNB5" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Assets, fair value">1,247</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__us-gaap--CashEquivalentsMember_zqpUNgkhplt8" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0338">-</span></td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__us-gaap--CashEquivalentsMember_z4c9OSmawWM" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0340">-</span></td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">U.S. treasury securities</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zNHR23DOV7ed" style="text-align: right" title="Assets, fair value">3,761</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zCQ9zxgFngn1" style="text-align: right" title="Assets, fair value">3,761</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zFmGGasP24xf" style="text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0346">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--USTreasurySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_ztZ2C4l0NgL6" style="text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0348">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Money market mutual funds</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_z33b0V1eBc35" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value">1,999</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 id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zlLKEGFiZovf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value">1,999</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 id="xdx_980_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zggJLd7Y9ot1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0354">-</span></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 id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zIXjESEeFr0a" style="border-bottom: Black 1.5pt solid; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0356">-</span></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: 2.5pt"/><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember_zbjThOVQu3e5" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value">5,760</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zUskhvxFgJ2f" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value">5,760</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z15OrOjDzDz2" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0362">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FinancialInstrumentAxis__custom--MarketableSecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zPZV3WcGiW91" style="border-bottom: Black 2.5pt double; text-align: right" title="Assets, fair value"><span style="-sec-ix-hidden: xdx2ixbrl0364">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1270000 1270000 1637000 1637000 2907000 2907000 1247000 1247000 3761000 3761000 1999000 1999000 5760000 5760000 <p id="xdx_84B_eus-gaap--CommitmentsAndContingenciesPolicyTextBlock_zrHIqeSYHMje" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zVB7zeFQwbw2">Contingencies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management records and discloses legal contingencies in accordance with ASC Topic 450 Contingencies. A provision is recorded when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company monitors the stage of progress of its litigation matters to determine if any adjustments are required.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zlKz5eGNsM3f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_869_z5dEjOZvapu6">Recently issued accounting pronouncements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43.1pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, new accounting pronouncements are issued by FASB, or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.</span></p> <p id="xdx_80A_eus-gaap--LesseeOperatingLeasesTextBlock_zKXrJgzjbAXe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 3 - <span id="xdx_82F_zPMXU7wORiN2">LEASES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has lease agreements with lease and non-lease components, which it accounts for as a single lease component. The Company has elected not to recognize ROU assets and lease liabilities for short-term leases that have a term of 12 months or less. The effect of short-term leases on the Company’s ROU assets and lease liabilities was not material. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. In addition, the Company does not have any related party leases and its sublease transactions are de minimis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock_zQ5EqeYLZYr6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental cash flow information related to operating leases was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BD_zrKMyZSkuQBl" style="display: none">SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO OPERATING LEASES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_49D_20230101__20230331_z421y9CJEmG3" 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 id="xdx_495_20220101__20220331_zdrjhRs6svT9" 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="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">For the Three Months Ended March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeasePayments_pn3n3_zWyoSvG28SMa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 60%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Cash payments and expenses</span></td><td style="font-weight: bold; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td style="font-weight: bold; text-align: left; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">$</span></td><td style="font-weight: bold; text-align: right; width: 16%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">75</span></td><td style="font-weight: bold; text-align: left; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-weight: bold; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td style="font-weight: bold; text-align: left; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">$</span></td><td style="font-weight: bold; text-align: right; width: 16%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">93</span></td><td style="font-weight: bold; text-align: left; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td></tr> </table> <p id="xdx_8A6_zFAqH2yJP1re" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p id="xdx_89A_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zt38mcfmtnA2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Undiscounted maturities of operating lease payments as of March 31, 2023 are summarized as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BC_z5B4do0D428i">SCHEDULE OF MATURITIES OF LEASE LIABILITIES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20230331_zkEUUIudimEh" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_maLOLLPzSMe_zXnMEY6rh961" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">2023 (Remainder of the year)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">224</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzSMe_zWdAeyF2bah4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">187</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzSMe_zd5AwDOwEUpe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">2025</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">8</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzSMe_zci2ncPPOGzj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total future lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">419</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zzH6E6RYlZXh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less imputed interest</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">(26</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseLiability_iI_pn3n3_zlLbBDLjTE4k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease liability balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">393</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_z6ZBXtM4cHc4" style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p id="xdx_89D_eus-gaap--LeaseCostTableTextBlock_zmSNvBxlnQ6" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B6_zOngbo3ymMge">SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-left: 5.4pt">Operating leases weighted average remaining lease term (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20230331_zO6Fksfmdjvb" title="Operating leases weighted average remaining lease term (in years)">1</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_906_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20221231_zwSwAmSMw0Z2" title="Operating leases weighted average remaining lease term (in years)">2</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Operating leases weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20230331_z1sB7kXhAoZ9" style="text-align: right" title="Operating leases weighted average discount rate">9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20221231_zUYu8G2cgJUc" style="text-align: right" title="Operating leases weighted average discount rate">9</td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p id="xdx_8AC_z6jsmQaHSzS2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p id="xdx_89F_eus-gaap--ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock_zQ5EqeYLZYr6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental cash flow information related to operating leases was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BD_zrKMyZSkuQBl" style="display: none">SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO OPERATING LEASES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_49D_20230101__20230331_z421y9CJEmG3" 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 id="xdx_495_20220101__20220331_zdrjhRs6svT9" 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="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">For the Three Months Ended March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeasePayments_pn3n3_zWyoSvG28SMa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 60%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Cash payments and expenses</span></td><td style="font-weight: bold; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td style="font-weight: bold; text-align: left; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">$</span></td><td style="font-weight: bold; text-align: right; width: 16%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">75</span></td><td style="font-weight: bold; text-align: left; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-weight: bold; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td style="font-weight: bold; text-align: left; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">$</span></td><td style="font-weight: bold; text-align: right; width: 16%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">93</span></td><td style="font-weight: bold; text-align: left; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td></tr> </table> 75000 93000 <p id="xdx_89A_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zt38mcfmtnA2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Undiscounted maturities of operating lease payments as of March 31, 2023 are summarized as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BC_z5B4do0D428i">SCHEDULE OF MATURITIES OF LEASE LIABILITIES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20230331_zkEUUIudimEh" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_maLOLLPzSMe_zXnMEY6rh961" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">2023 (Remainder of the year)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">224</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzSMe_zWdAeyF2bah4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">187</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzSMe_zd5AwDOwEUpe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">2025</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">8</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzSMe_zci2ncPPOGzj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total future lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">419</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zzH6E6RYlZXh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less imputed interest</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">(26</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseLiability_iI_pn3n3_zlLbBDLjTE4k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease liability balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">393</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 224000 187000 8000 419000 26000 393000 <p id="xdx_89D_eus-gaap--LeaseCostTableTextBlock_zmSNvBxlnQ6" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B6_zOngbo3ymMge">SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-left: 5.4pt">Operating leases weighted average remaining lease term (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20230331_zO6Fksfmdjvb" title="Operating leases weighted average remaining lease term (in years)">1</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_906_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20221231_zwSwAmSMw0Z2" title="Operating leases weighted average remaining lease term (in years)">2</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Operating leases weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20230331_z1sB7kXhAoZ9" style="text-align: right" title="Operating leases weighted average discount rate">9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20221231_zUYu8G2cgJUc" style="text-align: right" title="Operating leases weighted average discount rate">9</td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> P1Y P2Y 0.09 0.09 <p id="xdx_803_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zehWgjhU104i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 4 - <span id="xdx_82A_zLCZmfXxFKJ2">COMMITMENTS AND CONTINGENCIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Government Grants:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Microbot Israel has received grants from the Israeli Innovation Authority (“IIA”) for participation in research and development since 2013 through March 31, 2023 totaling approximately $<span id="xdx_90B_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn3n3_c20230101__20230331__us-gaap--AwardDateAxis__custom--TwoThousandThirteenToMarchThirtyFirstTwoThousandTwentyThreeMember__dei--LegalEntityAxis__custom--IsraeliInnovationAuthorityMember_zGxQRxNJlfvf" title="Total grants obtained">1,500</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition, as a result of the agreement with CardioSert Ltd. (“CardioSert”) on January 4, 2018, Microbot Israel took over the liability to repay CardioSert’s IIA grants in the aggregate amount of approximately $<span id="xdx_909_ecustom--RepaymentOfGovernmentGrants_pn3n3_c20180103__20180104__dei--LegalEntityAxis__custom--IsraeliInnovationAuthorityMember__us-gaap--BusinessAcquisitionAxis__custom--CardioSertLtdMember_z4uKsji2fhf7" title="Repayment of government grants">530</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of the agreement with Nitiloop Ltd., an Israeli limited liability company (“Nitiloop”), on October 6, 2022, Microbot Israel took over the liability to repay Nitiloop’s IIA grants in the aggregate amount of approximately $<span id="xdx_90D_ecustom--RepaymentOfGovernmentGrants_pn3n3_c20221005__20221006__dei--LegalEntityAxis__custom--IsraeliInnovationAuthorityMember__us-gaap--BusinessAcquisitionAxis__custom--NitiloopMember_zLJQCdRaoOwk" title="Repayment of government grants">925</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In relation to the IIA grants described above, the Company is obligated to pay royalties amounting to <span id="xdx_90C_ecustom--NetSalesRoyaltyPercentage_pid_dp_uPure_c20230101__20230331__dei--LegalEntityAxis__custom--IsraeliInnovationAuthorityMember__srt--RangeAxis__srt--MinimumMember_zFryLPmokH8e" title="Net sales royalty percenatge">3.0</span>%-<span id="xdx_902_ecustom--NetSalesRoyaltyPercentage_pid_dp_uPure_c20230101__20230331__dei--LegalEntityAxis__custom--IsraeliInnovationAuthorityMember__srt--RangeAxis__srt--MaximumMember_zzkvbcbuS3na" title="Net sales royalty percenatge">3.5</span>% of its future sales of the products relating to such grants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The grants are linked to the exchange rate of the dollar to the New Israeli Shekel and bears interest of Libor per annum.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The repayment of the grants is contingent upon the successful completion of the Company’s research and development programs and generating sales. The Company has no obligation to repay these grants, if the project fails, is unsuccessful or aborted or if no sales are generated. The financial risk is assumed completely by the Government of Israel. The grants are received from the Government on a project-by-project basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRDF Agreement:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Microbot Israel signed an agreement with the Technion Research and Development Foundation (“TRDF”) in June 2012 by which TRDF transferred to Microbot Israel a global, exclusive, royalty-bearing license (as amended, the License Agreement”). As partial consideration for the license, Microbot Israel shall pay TRDF royalties on net sales (between <span id="xdx_900_ecustom--NetSalesRoyaltyPercentage_pid_dp_uPure_c20120601__20120630__dei--LegalEntityAxis__custom--TechnionResearchAndDevelopmentFoundationLimitedMember__srt--RangeAxis__srt--MinimumMember_zM2EZxTb7tI9" title="Royalties payable as percentage of future sales">1.5</span>%-<span id="xdx_90D_ecustom--NetSalesRoyaltyPercentage_pid_dp_uPure_c20120601__20120630__dei--LegalEntityAxis__custom--TechnionResearchAndDevelopmentFoundationLimitedMember__srt--RangeAxis__srt--MaximumMember_zfHnsZNqHHPj" title="Royalties payable as percentage of future sales">3.0</span>%) and on sublicense income as detailed in the agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the License Agreement, both parties agreed to extend the next development milestone for the Company’s Self Cleaning Shunt (SCS) project, which includes the First In Human milestone, until December 2024, and to continue to maintain the TipCat assets, which are still in a discovery phase, until December 2023. The Company in October 2022 suspended the SCS project while it evaluated alternatives for the SCS assets (mainly related patents), including seeking buyers for the assets, joint ventures or licensing arrangements, spinning off the assets into a new operating company or discontinuing the project altogether. The Company has certain obligations to seek to develop and commercialize the SCS and the TipCat assets under the License Agreement. The Company has been in discussions with TRDF with respect to the suspension of the SCS project and the status of the TipCat assets, and as a result of the Company’s May 2023 implementation of its core-business focus program and cost reduction plan, expects to return such licensed assets to TRDF in the second fiscal quarter of 2023. See “Note 6 – Subsequent Events” below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Agreement with CardioSert Ltd.:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 4, 2018, Microbot Israel entered into an agreement with CardioSert to acquire certain of its patent-protected technology (the “Technology”). Pursuant to the Agreement, Microbot Israel made aggregate payments of $<span id="xdx_909_eus-gaap--PaymentsToAcquireIntangibleAssets_pn3n3_c20180103__20180104__dei--LegalEntityAxis__custom--CardioSertLtdMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TechnologyMember_zsuigME6iMr7" title="Payment to acquire intangible assets">300</span> in cash and <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20180103__20180104__dei--LegalEntityAxis__custom--CardioSertLtdMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TechnologyMember_zh31RjpExRei" title="Number of common shares issued for acquisition">6,738</span> shares of Common Stock estimated at $<span id="xdx_907_eus-gaap--StockIssuedDuringPeriodValueAcquisitions_pn3n3_c20180103__20180104__dei--LegalEntityAxis__custom--CardioSertLtdMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TechnologyMember_zem3RqiPBPka" title="Number of common shares issued for acquisition, value">74</span> to complete the acquisition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The agreement may be terminated by Microbot Israel at any time for convenience upon 90-days’ notice. The agreement may be terminated by CardioSert in case the first commercial sale does not occur by the third anniversary of the date of signing of the agreement except if Microbot Israel has invested more than $<span id="xdx_908_eus-gaap--Investments_iI_pn3n3_c20180104__dei--LegalEntityAxis__custom--CardioSertLtdMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TechnologyMember__srt--RangeAxis__srt--MinimumMember_zZECqZF2PB47" title="Investments">2,000</span> in certain development stages, or the first commercial sale does not occur within 50 months. As of March 31, 2023, the 50 months period has expired and CardioSert can buy-back the Technology at any time. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In each of the above termination events, or in case of breach by Microbot Israel, CardioSert shall have the right to buy back the Technology from Microbot Israel for $<span id="xdx_90B_ecustom--BuyBackAmountPerPatent_iI_pid_c20180104__dei--LegalEntityAxis__custom--CardioSertLtdMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TechnologyMember_zO9rTuUK8laa" title="Buy back amount per patent">1.00</span>, upon 60 days prior written notice, but only 1 year after such termination events. <span id="xdx_901_ecustom--ConsultingFeeDescription_c20180103__20180104__dei--LegalEntityAxis__custom--CardioSertLtdMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TechnologyMember_z74PznPBnHDe" title="Consulting fee description">Additionally, the agreement may be terminated by either party upon breach of the other (subject to cure). Microbot Israel pays CardioSert a monthly consultation fee of NIS<span id="xdx_906_eus-gaap--ProfessionalFees_pn3n3_uILS_c20180103__20180104__dei--LegalEntityAxis__custom--CardioSertLtdMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TechnologyMember_zG6pFTNs5rId" title="Monthly consultation fee">40</span> (or approximately US$<span id="xdx_905_ecustom--MonthlyConsultationFeeInUsd_c20180103__20180104__dei--LegalEntityAxis__custom--CardioSertLtdMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TechnologyMember_zHfCHII0EG8b" title="Monthly consultation fee in USD">11.06</span>, based on an <span id="xdx_907_ecustom--CurrencyExchangeRateDescription_c20180103__20180104__dei--LegalEntityAxis__custom--CardioSertLtdMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TechnologyMember_zzK5ZASVlyJf" title="Currency exchange rate, description">exchange rate of NIS 3.615 to the dollar</span>) covering up to 60 consulting hours per month, relating to the development of the Technology.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span title="Consulting fee description"> </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span title="Consulting fee description">See “Note 6 – Subsequent Events” below, with respect to the Company’s May 17, 2023 termination of the agreement. As of the filing date of this Quarterly Report on Form 10-Q, CardioSert has not purchased back the Technology.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ATM Agreement:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 10, 2021, the Company entered into an At-the-Market Offering Agreement (the “ATM Agreement”) with H.C. Wainwright &amp; Co. LLC (“Wainwright”), as sales agent, in connection with an “at the market offering” under which the Company may offer and sell, from time to time in its sole discretion, shares of its Common Stock having an aggregate offering price of up to $<span id="xdx_900_ecustom--OfferingCosts_iI_pn3n3_c20210610__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketOfferingAgreementMember__dei--LegalEntityAxis__custom--HCWainwrightAndCoLLCMember_zK0blzhqmBxh" title="Offering costs">10,000</span> at market prices or as otherwise agreed with Wainwright. Any shares sold under the ATM Agreement from time to time will be offered and sold pursuant to the Company’s Registration Statement on Form S-3, which was initially filed on November 25, 2020 and which was declared effective by the SEC on December 4, 2020, and the related prospectus as supplemented by a prospectus supplement that the Company filed on June 10, 2021 (the “June 2021 Prospectus”). To date, the Company has not sold any shares of Common Stock pursuant to the ATM Agreement, and as of October 13, 2022, the Company suspended the ATM Agreement, which otherwise remains in full force and effect, and terminated the June 2021 Prospectus.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Acquisition of Nitiloop’s Assets</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 6, 2022, Microbot Israel purchased substantially all of the assets, including intellectual property, devices, components and product related materials (the “Assets”), of Nitiloop Ltd., an Israeli limited liability company (“Nitiloop”). The Assets include intellectual property and technology in the field of intraluminal revascularization devices with anchoring mechanism and integrated microcatheter (the “Technology”) and the products or potential products incorporating the Technology owned by Nitiloop and designated by Nitiloop as “NovaCross”, “NovaCross Xtreme” and “NovaCross BTK” and any enhancements, modifications and improvements thereof (“Devices”). Microbot Israel did not assume any material liabilities of Nitiloop other than obligations Nitiloop has to the IIA and relating to certain renewal/maintenance fees for a European patent application.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In consideration for the acquisition of the Assets, Microbot Israel shall pay royalties to Nitiloop, which shall not, in the aggregate, exceed $<span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn3n3_c20221005__20221006__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketOfferingAgreementMember__dei--LegalEntityAxis__custom--HCWainwrightAndCoLLCMember_z0cnq1lwdGYc" title="Stock issued during period, value, new issues">8,000</span>, as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royalties at a rate of <span id="xdx_90A_ecustom--RoyaltiesPercentage1_pid_dp_uPure_c20221005__20221006__srt--ProductOrServiceAxis__custom--DeviceMember_zhHNhxq9tsUb" title="Royalties percentage">3</span>% of net revenue generated as a result of sales, license or other exploitation of the Devices; and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Royalties at a rate of <span id="xdx_904_ecustom--RoyaltiesPercentage1_pid_dp_uPure_c20221005__20221006__srt--ProductOrServiceAxis__custom--IntegratedProductMember_z43tejpGvaJ5" title="Royalties percentage">1.5</span>% of net revenue generated from the sale, license or other exploitation of commercialization of the technology as part of an integrated product.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Litigation:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Litigation Resulting from 2017 Financing</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company was named as the defendant in a lawsuit captioned Empery Asset Master Ltd., Empery Tax Efficient, LP, Empery Tax Efficient II, LP, Hudson Bay Master Fund Ltd., Plaintiffs, against Microbot Medical Inc., Defendant, in the Supreme Court of the State of New York, County of New York (Index No. 651182/2020). The complaint alleges, among other things, that the Company breached multiple representations and warranties contained in the Securities Purchase Agreement (the “SPA”) related to the Company’s June 8, 2017 equity financing (the “Financing”), of which the Plaintiffs participated, and fraudulently induced Plaintiffs into signing the SPA. The complaint seeks rescission of the SPA and return of the Plaintiffs’ $<span id="xdx_90C_eus-gaap--LossContingencyDamagesSoughtValue_pn3n3_c20230101__20230331__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zEfwLOaf2Xb5" title="Purchase price of plaintiffs">6,750</span> purchase price with respect to the Financing. The Company is currently in the discovery phase. Management is unable to assess the likelihood that the Company will succeed at trial with respect to the SPA or the Financing, having previously lost another lawsuit with respect to the Financing.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Mona Litigation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 28, 2019, the Company brought an action against Alliance Investment Management, Ltd. (“Alliance”), later amended to include Joseph Mona (“Mona”) as a defendant, in the Southern District of New York under Section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. 78p(b), to compel Alliance and Mona to disgorge short swing profits realized from purchases and sales of the Company’s securities within a period of less than six months. The case is Microbot Medical Inc. v. Alliance Investment Management, Ltd., No. 19-cv-3782-GBD (SDNY). The amount of profits was estimated in the complaint to be approximately $<span id="xdx_901_eus-gaap--LitigationSettlementAmountAwardedFromOtherParty_pn3n3_c20190427__20190428__dei--LegalEntityAxis__custom--AllianceInvestmentManagementLtdMember_zbXwbLJeUo7l" title="Litigation settlement">468</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 28, 2019, Alliance filed a motion for summary judgment requesting that the Court dismiss the claims against Alliance, which was subsequently granted by the Court. On February 4, 2020, Mona answered the 16(b) claim the Company asserted against him by claiming various equitable defenses and filed a counterclaim against the Company under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, claiming a net loss on trading the Company’s stock of approximately $<span id="xdx_90A_eus-gaap--LossContingencyLossInPeriod_pn3n3_c20200204__20200204_zyoTj5KcrVub" title="Net loss on trading of common stock">151</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 30, 2021, the Court issued an Order; and on March 31, 2021, the Clerk entered judgment against Mona and in favor of the Company in the amount of approximately $<span id="xdx_904_eus-gaap--LossContingencyDamagesSoughtValue_pn3n3_c20210329__20210331__srt--TitleOfIndividualAxis__custom--JosephMonaMember_zfCw7SW87U9e" title="Purchase price of plaintiffs">485</span>. On April 27, 2021, Mona filed an appeal of the Court’s judgment, which is pending before the U.S. Court of Appeals for the Second Circuit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2021, the Magistrate issued an order permitting Mona to file an Amended Counterclaim Complaint, and rejected the Company’s request to execute on the judgment. The Company filed a response to Mona’s amended counterclaim in July 2021, and in February 2023 filed a motion for summary judgment on Mona’s fraud claim on the basis of inability to demonstrate reliance or loss causation. The motion was fully briefed and submitted on May 1, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 12, 2023, Mona filed a motion to dismiss the Company’s 16(b) claim based on a decision issued by a Magistrate Judge in an unrelated case, which held that 16(b) plaintiffs must allege an “injury in fact” resulting from a defendant’s short swing trading violation. That decision is currently on appeal, and the Company believes Mona’s motion is meritless. The Company intends to oppose the motion, which is scheduled to be fully briefed on May 24, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 1500000 530000 925000 0.030 0.035 0.015 0.030 300000 6738 74000 2000000 1.00 Additionally, the agreement may be terminated by either party upon breach of the other (subject to cure). Microbot Israel pays CardioSert a monthly consultation fee of NIS40 (or approximately US$11.06, based on an exchange rate of NIS 3.615 to the dollar) covering up to 60 consulting hours per month, relating to the development of the Technology. 40000 11.06 exchange rate of NIS 3.615 to the dollar 10000000 8000000 0.03 0.015 6750000 468000 151000 485000 <p id="xdx_807_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zTsmLhiSNfoj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 5 - <span id="xdx_824_z4Pwbw0emHhk">SHARE CAPITAL</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Share Capital Developments:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2022 and March 31, 2023, the Company had, respectively, <span id="xdx_90F_eus-gaap--CommonStockSharesIssued_iI_pid_c20221231_zjkgXeAPvMH3" title="Common stock, shares issued"><span id="xdx_907_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20221231_zkmRlfoWcud4" title="Common stock, shares outstanding">7,890,628</span></span> and <span id="xdx_909_eus-gaap--CommonStockSharesIssued_iI_pid_c20230331_zpc1TC6p8Xkk" title="Common stock, shares issued"><span id="xdx_900_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20230331_z3LB7cpI2fH4" title="Common stock, shares outstanding">8,130,628</span></span> shares of Common Stock issued and outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 13, 2023, <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20230213_zxm1alIUalva" title="Class of warrant or right, outstanding">240,000</span> of the Company’s outstanding pre-funded warrants were exercised into alike number of shares of Common Stock, at an exercise price of $<span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230213_z44Syx061S4k" title="Exercise price">0.0001</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Employee Stock Option Grants:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the three months ended March 31, 2023, the Company granted to certain directors, options to purchase an aggregate of <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20230101__20230331__srt--TitleOfIndividualAxis__srt--DirectorMember_zyxSd6jH6NZ1" title="Number of stock options granted">70,000</span> shares of the Common Stock, at an average exercise price per share of $<span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20230101__20230331__srt--TitleOfIndividualAxis__srt--DirectorMember_zWYZi3GY9fj8" title="Weighted-average exercise price per share, granted">3.48</span>. The stock options vest over a period of <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dc_c20230101__20230331__srt--TitleOfIndividualAxis__srt--DirectorMember_zptFEZOndFf6" title="Stock options vesting period">three years</span> as outlined in the option agreements evidencing such grants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"/> 7890628 7890628 8130628 8130628 240000 0.0001 70000 3.48 P3Y <p id="xdx_809_eus-gaap--SubsequentEventsTextBlock_zfiXp0iO88Y9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 6 - <span id="xdx_82A_zTrOJEwOeHX9">SUBSEQUENT EVENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 15, 2023, the Board of Directors of the Company authorized, and the Company commenced, a core-business focus program while the Company seeks to raise additional capital to continue development of the LIBERTY robotic system. This core-business focus program includes the cessation of research and development activities not related to LIBERTY, including terminating the Company’s agreement with CardioSert for that technology, and returning intellectual property relating to the SCS (Virob) and TipCat to TRDF.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 15, 2023, in addition to the core-business focus program described above, the Board of Directors of the Company authorized, and the Company commenced, a cost reduction plan while the Company seeks to raise additional capital to continue development of the LIBERTY robotic system.</span></p>