What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2025-08-14 compared with 2025-05-14 · 423 added, 297 removed, 146 unchanged (83% of the section changed)

Financial Statements

GLUCOTRACK INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(i n thousands of US dollars except share data)

CONSOLIDATED BALANCE SHEETS

thousands of US dollars except share data)

June 30, 2025

December 31, 2024

In thousands of US dollars

(except stock data)

June 30, 2025

December 31, 2024

Current Assets

20 unchanged sentences

Common Stock of $ 0.001 par value (“Common Stock”):

250,000,000 and 100,000,000 shares authorized as of March 31, 2025 and December 31, 2024, respectively;

25,585,853 and 791,609 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively

Common Stock of $0.001 par

value (“Common Stock”) 250,000,000 and 100,000,000 shares authorized as of March 31, 2025 and December 31, 2024, respectively;

25,585,853 and 791,609 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively

and 100,000,000 shares authorized as of June 30, 2025 and December 31, 2024, respectively;

899,410 and 13,409 shares issued and outstanding

as of June 30, 2025 and December 31, 2024, respectively

Stock value 250,000,000 and 100,000,000 shares authorized as of June 30, 2025 and December

31, 2024, respectively;

899,410 and 13,409 shares issued and outstanding as of June 30, 2025

and December 31, 2024, respectively

Additional paid-in capital

4 unchanged sentences

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

The accompanying notes are an integral part of these

condensed interim consolidated financial statements.

GLUCOTRACK INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE LOSS

(in thousands of US dollars except share data) (unaudited)

Three-month period ended

Represents amount lower than $1.

accompanying notes are an integral part of these condensed interim consolidated financial statements.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

thousands of US dollars except share data) (unaudited)

period ended June 30,

Operating expenses

Research and development

General and administrative

Selling and marketing expenses

Research and development expenses

General and administrative expenses

Marketing expenses

Total operating expenses

3 unchanged sentences

Other (income) expense, net

Finance expenses (income), net

Finance income, net

Other comprehensive income:

5 unchanged sentences

condensed interim consolidated financial statements.

GLUCOTRACK INC.

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’

(in thousands of US Dollars except share data) (unaudited)

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY

thousands of US Dollars except share data) (unaudited)

Comprehensive

1 unchanged sentence

In thousands of US Dollars (except share data)

Accumulated Other

Comprehensive

Other Comprehensive

Stockholders’

Balance as of January 1, 2024 (Audited)

Balance as of December 31, 2024 (Audited)

$ ( 132,450 )

Loss for the period

1 unchanged sentence

Stock-based compensation

Issuance of common stock upon the completion of public offerings, net of offering expenses of $ 539

Stock split adjustment

Cashless exchange of warrants into common shares

Balance as of June 30, 2025 (Unaudited)

$ ( 144,039 )

Balance as of December 31, 2023 (Audited)

$ ( 109,853 )

Loss for the period

Other comprehensive income

Stock-based compensation

Issuance of restricted shares as compensation towards directors

Issuance of restricted shares as payment for achievement of milestone pursuant to purchase agreement (Note 4B)

Restricted shares to be issued as compensation towards directors

Issuance of Common Stock upon private placement transaction

Issuance of restricted shares as payment for a previous achievement of milestone pursuant to purchase agreement

Exercise of prefunded warrants into shares

Exchange of warrants into shares

Restricted shares to be issued as compensation towards directors

Issuance of warrants through private placement transaction

Balance as of June 30, 2024 (Unaudited)

$ ( 117,269 )

Balance as of March 31, 2025 (Unaudited)

Balance as of January 1, 2025

$ ( 139,283 )

Loss for the period

1 unchanged sentence

Stock-based compensation

Issuance of common stock upon completion of public offering, net of offering expenses

Cashless exercise of warrants into common stock

Issuance of common stock upon the completion of public offerings, net of offering expenses

Stock split adjustment

Balance as of June 30, 2025 (Unaudited)

$ ( 144,039 )

Balance as of March 31, 2024 (Unaudited)

$ ( 112,780 )

Loss for the period

Issuance of restricted shares as compensation towards directors

Stock-based compensation

Issuance of common stock upon private placement transaction

Restricted shares to be issued as compensation towards directors

Issuance of warrants through private placement transaction

Stock split adjustment

Balance as of June 30, 2024 (Unaudited)

$ ( 117,269 )

Represents amount lower than $1.

The accompanying notes are an integral part of these

condensed interim consolidated financial statements.

GLUCOTRACK INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands of US Dollars)

Three-month period ended

accompanying notes are an integral part of these condensed interim consolidated financial statements.

CONSOLIDATED STATEMENTS OF CASH FLOWS

thousands of US Dollars)

Six-month period ended

CASH FLOWS FROM OPERATING ACTIVITIES:

4 unchanged sentences

Issuance of restricted shares as compensation towards directors

Change in fair value of derivative liability (Note 2H)

Amortization of debt discount and interest expense related to promissory notes

Linkage difference on principal of loans from stockholders

Change in fair value of derivative liability

Amortization of debt discount and interest expense related to promissory notes

Loss on warrant repurchase

Changes in assets and liabilities:

Increase in other current assets

Increase in accounts payable

Increase (Decrease) in other current liabilities

Other current assets

Accounts payable

Other current liabilities

Net cash used in operating activities

5 unchanged sentences

public offerings (Note 3A)

Series A warrant repurchase

Issuance of notes and warrants through private placement transaction

Net proceeds from private placement transaction

Net cash provided by financing activities

3 unchanged sentences

Cash and cash equivalents, and restricted cash, end of period

Three-month period ended

Six-month period ended

Supplemental disclosure of cash flow activities:

2 unchanged sentences

Recognition of right for usage asset against a lease liability

The accompanying notes are an integral part of these

condensed interim consolidated financial statements.

GLUCOTRACK INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(in thousands of US Dollars)

NOTE 1 – GENERAL

accompanying notes are an integral part of these condensed interim consolidated financial statements.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

thousands of US Dollars)

Company was incorporated on May 18, 2010 under the laws of the State of Delaware.

The Company is currently developing an implantable

continuous blood glucose monitor , the Glucotrack CBGM, for persons with Type 1 diabetes and insulin-dependent Type 2 diabetes.

Glucotrack CBGM is being developed for use by Type 1 diabetes patients as well as insulin-dependent Type 2 patients.

Implant longevity

is key to the success of such a device.

The Company has continued to evolve its sensor chemistry following the results

of the in-vitro feasibility study.

Recently the Company announced that a 3-year longevity is feasible leveraging both in-vitro and

in-silico test results.

The Company has also completed multiple animal studies with initial prototype systems which demonstrated

a simple implant procedure with good safety and functionality.

The results of both were presented in poster form at the 2024 American

Diabetes Association annual conference.

to the above progress on the Glucotrack CBGM, the Company has also successfully demonstrated continuous glucose sensing in the epidural

This latter approach is intended for patients with diabetes already contemplating spinal cord stimulation therapy for their

regulatory submission has been made for a first in human study outside of the United States.

This is intended to demonstrate acute

device performance and safety.

All preparatory clinical activities and applicable regulatory approvals were completed in the fourth

quarter of 2024.

In parallel, the Company is also preparing for a long-term clinical trial outside the United States that is expected

to begin in the second quarter of 2025.

Company believes its technology, if successful, has the potential to be more accurate, more convenient and have a longer duration

than other implantable glucose monitors that are either in the market or currently under development.

is currently developing an implantable continuous blood glucose monitor (“CBGM”).

The Glucotrack CBGM is a long-term fully implantable continuous glucose monitor (CGM), consisting

of a sensor lead implanted into the subclavian vein and connected to subcutaneous electronics

that communicate with a mobile application.

It measures glucose directly from the blood,

eliminating the lag time associated with interstitial fluid glucose monitors.

a three-year sensor life with continuous, accurate blood glucose monitoring, the system offers

a more convenient and less burdensome solution for people with diabetes, with no on-body

wearable component and minimal calibration requirements.

Glucotrack CBGM is being developed for use by diabetes patients who are dependent on daily glucose monitoring to manage their disease.

These include patients who have the following conditions:

Type 1 diabetes, Type 2 insulin-dependent diabetes, Type 2 diabetes using

basal insulin and Type 2 diabetes at risk for hypoglycemia.

Company has continued to evolve its sensor chemistry following the results of an initial in-vitro feasibility study.

Company announced that a 3-year longevity is feasible leveraging both in-vitro and in-silico test results.

The Company has also completed

multiple animal studies with initial prototype systems which demonstrated a simple implant procedure with good safety and functionality.

The results of both were presented in poster form at the 2024 American Diabetes Association annual conference.

The Company believes

that implant accuracy and longevity is key to the success for long term use.

Company initiated a first-in-human (“FIH”) short-term clinical study outside of the United States in fourth quarter of

2024 and completed the study in first quarter of 2025.

The Company recently presented results at the 2025 American Diabetes Association

annual conference at the Innovation Hub podium as well as a poster.

The ADA presentation reported that the FIH clinical study met

all primary and secondary endpoints with no procedure or device related serious adverse events reported from implant through seven

days post-removal of the CBGM sensor lead.

The system also demonstrated excellent accuracy with a Mean Absolute Relative Difference

(MARD) of 7.7% across 122 matched pairs, a 99% data capture rate, and no procedure or device-related serious adverse events.

findings validate the safety and performance of the system which measures glucose from blood rather than interstitial fluid, eliminating

the typical lag time associated with traditional continuous glucose monitoring systems.

The MARD value demonstrates very high accuracy

and compares favorably to commercially available CGM systems.

The FIH study also confirmed the function of the CBGM sensor lead

in the subclavian vein.

Placement and removal procedures were successfully performed by interventional cardiologists.

Company is preparing for a long-term clinical study outside the United States to evaluate the device’s performance and safety

over an initial period of 1 year.

The Company obtained regulatory approval during the second quarter 2025 and patient enrollment is

expected to begin in the third quarter of 2025.

the second quarter 2025, the Company initiated discussions with the Food & Drug Administration (“FDA”) in preparations

for a pre-investigational device exemption (“IDE”) submission.

The discussions pertain to the protocol study design and

related requirements to secure IDE approval for future long-term human clinical trials in the United States.

The Company expects

to file the IDE submission to the FDA during the fourth quarter of 2025.

Company believes its technology, if successful, has the potential to be a long-term, implantable system that continually measures

blood glucose levels with a sensor longevity of 3 years, no on-body wearable component and with minimal calibration.

and Going Concern

3 unchanged sentences

Therefore, the Company is dependent upon external sources for financing its operations.

As of March 31, 2025, the Company has incurred an accumulated deficit of $ 139,283 .

As of June 30, 2025, the Company has incurred an accumulated deficit of $ 144,039 .

In addition, the Company has generated operating

losses and negative cash flow from operations since inception.

As of March 31, 2025, the balance of cash and cash equivalents amounted

the three months ended March 31, 2025, the Company raised $ 6.4 million through the sale of shares of common stock, par value $ 0.001

As of June 30, 2025, the balance of cash and cash equivalents amounted

the six months ended June 30, 2025, the Company raised $ 10.7 million through the sale of shares of common stock, par value $ 0.001

per share (the “Common Stock”).

7 unchanged sentences

condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Reverse Stock Split and Increase in Authorized Common Stock

Reverse Stock Splits and Increase in Authorized Common Stock

2025 1-for-20 Reverse Stock Split

Company filed with the Delaware Secretary of State a Certificate of Amendment to its Certificate of Incorporation which became effective

on February 3, 2025, to implement a reverse stock split at a ratio of 1-for-20 (the “2025 Reverse Stock Split”)

of the shares of its Common Stock.

The 2025 Reverse Stock Split was approved by the Company’s stockholders at the special meeting

of stockholders held on January 3, 2025 (the “Special Meeting”).

All shares and per share numbers in these interim condensed

consolidated financial statements have been retroactively adjusted and are reflected on a post-reverse share split basis.

on February 3, 2025, to implement a reverse stock split at a ratio of 1-for-20 (the “February 2025 Reverse Stock

Split”) of the shares of its Common Stock.

The February 2025 Reverse Stock Split was approved by the Company’s stockholders

at the special meeting of stockholders held on January 3, 2025 (the “Special Meeting”).

January 3, 2025, the Company filed an amendment to the Company’s Certificate of Incorporation to increase the Company’s

4 unchanged sentences

exchange of Series B Warrants (defined below).

GLUCOTRACK INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(in thousands of US Dollars)

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING

2025 1-for-60 Reverse Stock Split

Company filed with the Delaware Secretary of State a Certificate of Amendment to its Certificate of Incorporation which became effective

on June 13, 2025, to implement a reverse stock split at a ratio of 1-for-60 (the “June 2025 Reverse Stock Split”)

of the shares of its Common Stock.

The June 2025 Reverse Stock Split was approved by the Company’s stockholders at the 2025

annual meeting of the stockholders on May 22, 2025.

shares, options and warrants to purchase shares of Common Stock and loss per share amounts have been adjusted to give retroactive

effect to the February and June 2025 reverse share splits, (the “Reverse Stock Splits”) for all periods presented in

these interim consolidated financial statements.

Any fractional shares resulting from the Reverse Stock Splits were rounded up to

the nearest whole share.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

thousands of US Dollars)

2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed interim consolidated financial statements and related notes should be read in conjunction with the Company’s consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as was filed with the SEC on March 31, 2025.

The unaudited condensed interim consolidated financial statements have been prepared in accordance with the rules and regulations of the SEC related to interim financial statements.

As permitted under those rules, certain information and footnote disclosures normally required or included in financial statements prepared in accordance with U.S.

accompanying unaudited condensed interim consolidated financial statements and related notes should be read in conjunction with the

Company’s consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for

the fiscal year ended December 31, 2024, as was filed with the Securities Exchange Commission, (the “SEC”) on March 31,

The unaudited condensed interim consolidated financial statements have been prepared in accordance with the rules and regulations

of the SEC related to interim financial statements.

As permitted under those rules, certain information and footnote disclosures

normally required or included in financial statements prepared in accordance with U.S.

Generally Accepted Accounting Principles,

GAAP”) have been condensed or omitted.

The financial information contained herein is unaudited;

however, management believes all adjustments have been made that are considered necessary to present fairly the results of the Company’s financial position and operating results for the interim periods.

however, management

believes all adjustments have been made that are considered necessary to present fairly the results of the Company’s financial

position and operating results for the interim periods.

All such adjustments are of a normal recurring nature.

The results for the three

months’ period ended March 31, 2025 are not necessarily indicative of the results to be expected for the year ending December 31,

2025 or for any other interim period or for any future period.

Use of Estimates in the Preparation of Financial

The preparation of the condensed

consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported

amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the financial statements, and

the reported amounts of expenses during the reported periods.

Actual results could differ from those estimates.

As applicable to these

financial statements, the most significant estimates and assumptions relate to evaluation of going concern, the classification of financial

instruments as equity or liability and the determination of the fair value of derivative liabilities.

results for the three and six month periods ended June 30, 2025 are not necessarily indicative of the results to be expected for

the year ending December 31, 2025 or for any other interim period or for any future period.

Use of Estimates in the Preparation of Financial Statements

preparation of the condensed consolidated financial statements in conformity with U.S.

GAAP requires management to make estimates

and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities

at the dates of the financial statements, and the reported amounts of expenses during the reported periods.

Actual results could

differ from those estimates.

As applicable to these financial statements, the most significant estimates and assumptions relate to

evaluation of going concern, the classification of financial instruments as equity or liability and the determination of the fair

value of derivative liabilities.

Principles of Consolidation

The condensed interim consolidated financial statements include the accounts of the Company and its subsidiary.

Significant intercompany balances and transactions have been eliminated in consolidation.

condensed interim consolidated financial statements include the accounts of the Company and its subsidiary.

Significant intercompany

balances and transactions have been eliminated in consolidation.

Cash and Cash Equivalents

Cash equivalents are short-term highly liquid investments which include short term bank deposits (up to three months from the date of deposit), that are not restricted as to withdrawals or use that are readily convertible to cash with maturities of three months or less as of the date acquired.

Equity classified warrants

Certain warrants that were determined to be freestanding

financial instruments that are legally detachable and separately exercisable, do not embody an obligation for the Company to repurchase

its own shares, and permit the holders to receive a fixed number of Ordinary Shares upon exercise for a fixed exercise price and thus,

are considered as indexed to the Company’s own shares, were classified as equity instruments.

As such warrants were issued together

with financial instruments that are not subsequently measured at fair value, the warrants were measured based on allocation of the proceeds

received by the Company in accordance with the relative fair value basis.

Direct issuance expenses that were allocated to such warrants

were deducted from additional paid-in capital.

Warrants classified as derivative liabilities

Upon initial recognition of Series A Warrants and

Series B Warrants that were issued in November 2024 as part of an equity issuance and debt conversions, management considered the provisions

of ASC 815-40, Derivatives and Hedging — Contracts in Entity’s Own Equity and determined that the settlement amount of Series

A Warrants and Series B Warrants might not be based on an exchange of a fixed number of shares for a fixed amount of consideration and

thus such warrants are not eligible to be considered as indexed to the Company’s own shares.

Accordingly, the Series A Warrants

and Series B Warrants were accounted for as warrant derivative liability at fair value and the changes in fair values are carried to profit

In accordance with ASC 210-10-20, the warrant derivative liability is presented as a noncurrent liability since its settlement

will require the issuance of shares and not the use of any resources that are properly classified as current assets.

GLUCOTRACK INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(in thousands of US Dollars)

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING

POLICIES (CONT.)

equivalents are short-term highly liquid investments which include short term bank deposits (up to three months from the date of

deposit), that are not restricted as to withdrawals or use that are readily convertible to cash with maturities of three months or

less as of the date acquired.

As June 30, 2025 and December 31, 2024, the Company held no cash equivalents.

classified warrants

warrants that were determined to be freestanding financial instruments that are legally detachable and separately exercisable, do

not embody an obligation for the Company to repurchase its own shares, and permit the holders to receive a fixed number of shares

of common stock upon exercise for a fixed exercise price and thus, are considered as indexed to the Company’s own shares, were

classified as equity instruments.

As such warrants were issued together with financial instruments that are not subsequently measured

at fair value, the warrants were measured based on allocation of the proceeds received by the Company in accordance with the relative

fair value basis.

Direct issuance expenses that were allocated to such warrants were deducted from additional paid-in capital.

classified as derivative liabilities

initial recognition of Series A Warrants and Series B Warrants that were issued in November 2024 as part of an equity issuance and

debt conversions, management considered the provisions of ASC 815-40, Derivatives and Hedging — Contracts in Entity’s

Own Equity and determined that the settlement amount of Series A Warrants and Series B Warrants might not be based on an exchange

of a fixed number of shares for a fixed amount of consideration and thus such warrants are not eligible to be considered as indexed

to the Company’s own shares.

Accordingly, the Series A Warrants and Series B Warrants were accounted for as warrant derivative

liability at fair value and the changes in fair values are carried to profit or loss.

In accordance with ASC 210-10-20, the warrant

derivative liability is presented as a noncurrent liability since its settlement will require the issuance of shares and not the

use of any resources that are properly classified as current assets.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

thousands of US Dollars)

2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT.)

Fair value of financial instruments

ASC Topic 825-10, “Financial Instruments” defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company.

The Company considers the carrying amount of cash and cash equivalents, restricted cash, accounts receivable, other current assets, accounts payable and other current liabilities balances, to approximate their fair values due to the short-term maturities of such financial instruments.

ASC Topic 825-10, establishes the following fair value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:

1 – Quoted prices (unadjusted) in active markets that are accessible at the measurement

date for assets or liabilities.

The fair value hierarchy gives the highest priority to Level

2 – Observable prices that are based on inputs not quoted on active markets but corroborated

by market data.

Topic 825-10, “Financial Instruments” defines financial instruments and requires disclosure of the fair value of financial

instruments held by the Company.

The Company considers the carrying amount of cash and cash equivalents, restricted cash, accounts

receivable, other current assets, accounts payable and other current liabilities balances, to approximate their fair values due to

the short-term maturities of such financial instruments.

ASC Topic 825-10, establishes the following fair value hierarchy, which

prioritizes the inputs used in the valuation methodologies in measuring fair value:

1 – Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities.

fair value hierarchy gives the highest priority to Level 1 inputs.

2 – Observable prices that are based on inputs not quoted on active markets but corroborated by market data.

3 – Unobservable inputs are used when little or no market data is available.

3 inputs are considered as the lowest priority under the fair value hierarchy.

The Company did not estimate the fair value of the loans received

from stockholders since their repayment schedule has not yet been determined.

The Company used Level 3 inputs for the valuation methodology

of the derivative liabilities.

The derivative liabilities are adjusted to reflect estimated fair value at each period end, with any decrease

or increase in the estimated fair value being recorded in other income or expense accordingly.

There were no Level 3 assets or liabilities for the three months

ended March 31, 2024.

The following table provides a reconciliation of the beginning and ending balances of the Series A Warrants and

Series B Warrants classified as derivative liabilities for the three months ended March 31, 2025:

Fair Value of Significant Unobservable Inputs (Level

Level 3 inputs are considered as the lowest priority

under the fair value hierarchy.

Company did not estimate the fair value of the loans received from stockholders since their repayment schedule has not yet been determined.

Company used Level 3 inputs for the valuation methodology of the derivative liabilities.

The derivative liabilities are adjusted to reflect

estimated fair value at each period end, with any decrease or increase in the estimated fair value being recorded in other income or

expense accordingly.

were no Level 3 assets or liabilities for the six months ended June 30, 2024.

The following table provides a reconciliation of the

beginning and ending balances of the Series A Warrants and Series B Warrants classified as derivative liabilities for the three and six

months ended June 30, 2025:

Value of Significant Unobservable Inputs (Level 3)

SCHEDULE OF DERIVATIVE LIABILITIES MEASURED AT FAIR VALUE

3 unchanged sentences

Fair value adjustments – Derivative financial liability

Settlement of warrant liability

Cashless exchange of warrants into common shares

Balance – March 31, 2025

Fair value adjustments – Derivative financial liability

Series A Warrant repurchase

Balance – June 30, 2025

Segment reporting

Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, or (“CODM”).

segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation

by the chief operating decision maker, or (“CODM”).

The Company has identified its Chief Executive Officer, Paul V.

Goode, as the CODM who is responsible for making decisions regarding resource allocation and assessing performance.

The Company views its operations and manages its business as one operating segment.

The Company’s long-lived assets consist primarily of property and equipment, net, which are all held in the United States.

as the CODM who is responsible for making decisions regarding resource allocation and assessing performance.

The Company views its

operations and manages its business as one operating segment.

The Company’s long-lived assets consist primarily of property

and equipment, net, which are all held in the United States.

280, “Segment Reporting” establishes standards for reporting information about

10 unchanged sentences

about operating segments in financial statements issued to shareholders.

As the Company is currently involved in the development of one

product, the Platform, the Company has determined that it operates in a single reportable segment.

The Company’s Chief Operating

Decision Maker (CODM), its Chief Executive Officer (CEO), reviews the consolidated results of operations when making decisions about

allocating resources and assessing the performance of the Company as a whole and, hence, the Company has only one reportable segment.

As the Company is currently involved in the development

of one product, the Platform, the Company has determined that it operates in a single reportable segment.

The Company’s Chief

Operating Decision Maker (CODM), its Chief Executive Officer (CEO), reviews the consolidated results of operations when making decisions

about allocating resources and assessing the performance of the Company as a whole and, hence, the Company has only one reportable

The Company’s assets are located in the United States of America.

Basic and diluted loss per share

Basic net loss per common share is computed as net loss divided by the weighted average number of common shares outstanding for the period.

The Company’s diluted net loss per common share is the same as our basic net loss per common share because it incurred a net loss during each period presented, and the potentially dilutive securities from the assumed exercise of all outstanding stock options and warrants would have an anti-dilutive effect.

As of March 31, 2025 and 2024, stock options and shares issuable upon the conversion of warrants of 3,535,505 and 9,310 , respectively, have been excluded from the computation of diluted shares outstanding.

net loss per common share is computed as net loss divided by the weighted average number of common shares outstanding for the period.

The Company’s diluted net loss per common share is the same as our basic net loss per common share because it incurred a net

loss during each period presented, and the potentially dilutive securities from the assumed exercise of all outstanding stock options

and warrants would have an anti-dilutive effect.

As of June 30, 2025 and 2024, stock options and shares issuable upon the conversion

of warrants of 9,235 and 405 , respectively, have been excluded from the computation of diluted shares outstanding.

OF ANTI DILUTIVE SECURITIES

1 unchanged sentence

Shares issuable upon the conversion of warrants

GLUCOTRACK INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)(CONT.)

(in thousands of US Dollars)

NOTE 3 - SIGNIFICANT TRANSACTIONS

Equity Issuances

ATM Sales Agreement

On December 17, 2024, the Company entered into an

ATM sales agreement (the “Sales Agreement”) with Dawson James Securities, Inc.

(“Dawson James”), pursuant to which

the Company have agreed to issue and sell shares of Common Stock, having an aggregate offering price of up to $ 8.23 million, from time

to time, through an “at-the-market” equity offering program under which Dawson James will act as sales agent (the “Agent”).

On March 21, 2025, the Company sold 12,377,967 shares

of Common Stock at an average offering price of $ 0.304 per share pursuant to the Sales Agreement for net proceeds of $ 3.6 million, after

deducting fees owed to the Agent from such sale.

As of March 31, 2025, approximately $ 4.5 million remains under the Sales Agreement.

Registered Direct Offering

On February 4, 2025, the Company entered into

a securities purchase agreement with certain institutional investors, relating to the registered direct offering and sale of an

aggregate of 2,638,042

shares of Common Stock at an offering price of $ 1.15

per share for gross proceeds of $ 3.0

The net proceeds to the Company from the offering were approximately $ 2.7

million, after deducting fees owed to the placement agent and other offering expenses.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)(CONT.)

thousands of US Dollars)

3 - SIGNIFICANT TRANSACTIONS

Sales Agreement

December 17, 2024, the Company entered into an ATM sales agreement (the “Sales Agreement”) with Dawson James Securities,

(“Dawson James”), pursuant to which the Company agreed to issue and sell shares of Common Stock, having an aggregate

offering price of up to $ 8,230 , from time to time, through an “at-the-market” equity offering program (the “ATM

Program”) under which Dawson James will act as sales agent (the “Agent”).

March 21, 2025, the Company sold 206,300 shares of Common Stock at an average offering price of $ 18.24 per share pursuant to the

Sales Agreement for net proceeds of $ 3,643 , after deducting fees owed to the Agent from such sale.

the three months ended June 30, 2025, the Company sold 414,785 shares of Common Stock at an average offering price of $ 10.74 per

share pursuant to the Sales Agreement for net proceeds of $ 4,320 , after deducting fees owed to the Agent from such sale.

of June 30, 2025, there was no remaining capacity available under the ATM Program.

Direct Offering

February 4, 2025, the Company entered into a securities purchase agreement with certain institutional investors, relating to the

registered direct offering and sale of an aggregate of 43,968 shares of Common Stock at an offering price of $ 69.00 per share for

gross proceeds of $ 3,034 .

The net proceeds to the Company from the offering were approximately $ 2,752 , after deducting

fees owed to the placement agent and other offering expenses.

The February 2025 offering closed on February 5, 2025.

Dawson James acted as the placement agent for the

offerings pursuant to a placement agency agreement, dated February 4, 2025, by and between the Company and Dawson James.

Warrant Net Share Exercise into Common Stock

As previously disclosed, on November 12, 2024, the

Company commenced a best efforts public offering, and concurrent with the offering entered into a private placement, collectively (the

“2024 November Offerings”) whereas the Company issued an aggregate of (i) 501,507 Series A Warrants (the “Series A Warrants”)

and (ii) 501,507 Series B Warrants (the “Series B Warrants”).

On January 3, 2025, subject to shareholder approval

the number of shares of Common Stock issuable upon exercise of the Series A Warrants and Series B Warrants issued pursuant to the 2024

November Offerings was reset from 501,507 shares to 3,241,886 shares, respectively.

The Company accounted for the 6,483,772

warrants issued in connection with the 2024 November Offerings in accordance with the accounting guidance for derivatives.

further described in the annual financial statements for the year ended December 31, 2024, the Company analyzed the terms of the

Series A and Series B Warrants and determined that such warrants are not eligible for equity classification and thus would be

classified as derivative liabilities and recorded at fair value, with changes in fair value recorded through profit or loss.

Company used the Monte Carlo Simulation method for determining the fair value of the warrants.

The Series A warrant assumptions used

in the Monte Carlo simulations are an expected term of 4.62

years, an exercise price of $ 36.20 ,

comparable company volatility of 113.5 %,

risk-free interest rate of 3.95 %

and share price of $ 6.17 .

The Series B warrant assumptions used in the Monte Carlo simulations are an expected term of 2.5

years, an exercise price of $ 36.20 ,

company historical volatility of 378.6 %,

risk-free interest rate of 4.30 %

and share price of $ 6.17 .

During the three months’ period ended March 31, 2025, there

were cashless exercises of an aggregate 3,241,240 Series B Warrants issued in connection with the 2024 November Offerings, which resulted

in the issuance of 9,723,723 shares of Common Stock.

As these warrants were exercised, as permitted under the respective warrant agreements,

the Company did not receive any cash proceeds.

The warrants were measured at fair value as of the settlement dates, and the change in

fair value of $ 5,745,851 was recognized to net loss.

Upon the exercise of the Series B Warrants, the fair value of the warrants exercised

as of the settlement dates of $ 20,260,138 was classified to equity under additional paid-in capital.

In addition, the remaining 646 Series B Warrants and

3,241,886 Series A Warrants were revalued as of March 31, 2025, resulting in a reduction to the warrant liability of $ 2,369,457 .

GLUCOTRACK INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)(CONT.)

(in thousands of US Dollars)

NOTE 4 – COMMITMENTS AND CONTINGENT LIABILITIES

On March 4, 2004, the Israeli Innovation Authority (the

“IIA”) provided Integrity Israel with a grant of approximately $ 93 (NIS 420,000 ), for its plan to develop a non-invasive blood glucose monitor (the “Development Plan”).

Integrity Israel is required to pay royalties to the IIA at a rate ranging between 3 - 5 % of the proceeds from the sale of the Company’s products arising from the Development Plan up to an amount equal to $ 93 plus interest at LIBOR from the date of grant.

As to the replacement of the LIBOR benchmark rate, even though the IIA has not declared the alternative benchmark rate to replace the LIBOR, the Company does not believe it will have a significant impact.

As of March 31, 2025, the remaining contingent liability with respect to royalty payment on future sales equals approximately $ 93 excluding interest.

James acted as the placement agent for the offerings pursuant to a placement agency agreement, dated February 4, 2025, by and between

the Company and Dawson James.

April 2024 Private Equity Offering

April 22, 2024, the Company entered into a private placement agreement under which the Company issued 67 shares of its common stock

at a price of $ 7,462.00 per share for aggregate gross proceeds of $ 500 (the “Offering”).

The Offering included participation

of certain members of the Company’s executive management, Board of Directors and existing shareholders.

November 2024 Public Equity Offering and Concurrent

Private Offering

On November 12, 2024, the Company completed a

public offering (the “Equity Offering”) under which the Company received gross proceeds of $ 10,000 in exchange for issuance

of an aggregate of (i) 2,032 shares (the “Shares”) of its Common Stock, (ii) 3,965 pre-funded warrants

(the “Pre-Funded Warrants”) to purchase up to an aggregate of 3,965 shares of Common Stock (the “Pre-Funded

Warrant Shares”) in lieu of Shares, (iii) Series A Warrants (the “Series A Warrants”) to purchase up to 5,996 shares

of Common Stock (the “Series A Warrant Shares”) and (iv) Series B Warrants (the “Series B Warrants)” and, together

with the Series A Warrants, the “Common Warrants”) to purchase up to 5,996 shares of Common Stock (“the “Series

B Warrant Shares” together with the Series A Warrant Shares, the “Warrant Shares”).

Each Share or Pre-Funded Warrant,

as applicable, was sold together with one Series A Warrant to purchase one share of Common Stock and one Series B Warrant to purchase

one Common Share.

The public offering price for each Share and accompanying Common Warrants was $ 1,668.00 , and the public offering price

for each Pre-Funded Warrant and accompanying Common Warrants was $ 1,668.80 .

In a private placement offering completed concurrently

with the Equity Offering (the “Concurrent Private Offering”), the Company converted approximately $ 4,093 of debt, which represented

the then outstanding principal and accrued interest under a convertible promissory note dated July 30, 2024 (the “July 30 Note Debt”).

The July 30 Note Debt was converted to Common Stock and Series A Warrants and Series B Warrants on substantially the same terms as the

Offering, resulting in the issuance of 2,201 shares of Common Stock, 2,201 accompanying Series A Warrants, and 2,201 accompanying Series

B Warrants, based on a conversion price of $ 1,860.00 per share, which is equal to the consolidated closing bid price of the Common Stock

on the Nasdaq Capital Market on November 12, 2024.

In addition, concurrently with the Equity Offering,

the Company converted on substantially the same terms as the Equity Offering, three outstanding July 18, 2024 Notes, with an aggregate

outstanding principal and accrued interest in the amount of $ 305 .

The three outstanding July 18, 2024 Notes automatically converted in

connection with the closing of the Equity Offering at a conversion price of $ 1,872.00 , which is equal to the Floor Price as defined in

the July 18, 2024 Notes, for an aggregate of 9,760 shares of Common Stock, 162 Series A Warrants, and 162 Series B Warrants.

Net Share Exchange into Common Stock and Warrant Repurchase

previously disclosed, on November 12, 2024, the Company commenced a best efforts public offering,

and concurrent with the offering entered into a private placement, collectively (the “2024

November Offerings”) whereas the Company issued an aggregate of (i) 8,359 Series A

Warrants and (ii) 8,359 Series B Warrants.

January 3, 2025, subject to shareholder approval the number of shares of Common Stock issuable upon exchange of the Series A Warrants

and Series B Warrants issued pursuant to the 2024 November Offerings was reset from 8,359 shares to 54,032 shares, respectively.

Company accounted for the 108,064 warrants issued in connection with the 2024 November Offerings in accordance with the accounting

guidance for derivatives.

As further described in the annual financial statements for the year ended December 31, 2024, the Company

analyzed the terms of the Series A and Series B Warrants and determined that such warrants are not eligible for equity classification

and thus would be classified as derivative liabilities and recorded at fair value, with changes in fair value recorded through profit

The Company used the Monte Carlo Simulation method for determining the fair value of the warrants.

The Series A warrant

assumptions used in the Monte Carlo simulations are an expected term of 4.62 years, an exercise price of $ 2,172 , comparable company

volatility of 113.5 %, risk-free interest rate of 3.95 % and share price of $ 370.20 .

The Series B warrant assumptions used in the Monte

Carlo simulations are an expected term of 2.5 years, an exercise price of $ 2,172 , company historical volatility of 378.6 %, risk-free

interest rate of 4.30 % and share price of $ 370.20 .

the three months’ period ended March 31, 2025, there were cashless exchanges of an aggregate 54,021 Series B Warrants issued

in connection with the 2024 November Offerings, which resulted in the issuance of 162,063 shares of Common Stock.

As these warrants

were exchanged, as permitted under the respective warrant agreements, the Company did not receive any cash proceeds.

were measured at fair value as of the settlement dates, and the change in fair value of $ 5,746 , was recognized to net loss.

the exchange of the Series B Warrants, the fair value of the warrants exchanged as of the settlement dates of $ 20,625 was classified

to equity under additional paid-in capital.

June 30, 2025, the Company repurchased 49,668 of its Series A Warrants form existing warrant holders for $ 160 .

The fair value of

the Series A Warrants on the date of exercise was $ 65 , resulting in a loss on repurchase of $ 95 .

the three and six month period ending June 30, 2025, the Company recognized a change in fair value of derivative liabilities of $ 107 ,

and $ 3,269 , respectively.

of June 30, 2025, 11 Series B Warrants and 4,368 Series A Warrants remain outstanding, for a combined value of $ 5 .

and Warrant Purchase Agreements

June 27, 2024, the Board of Directors approved the Company to enter into note and warrant

purchase agreements with certain officers, directors and existing investors, providing for

the private placement of unsecured promissory notes in the aggregate principal amount of

$ 100 (the “Notes”) and warrants to purchase up to an aggregate of 5,000 shares

of the Company’s Common Stock (the “Warrants”).

Notes bear simple interest at the rate of 3% per annum and are due and payable in cash on the earlier of:

(i) twelve months from

the date of the Note;

or (ii) the date the Company raises third-party equity capital in an amount equal to or in excess of $1,000

(the “Maturity Date”).

The Company may prepay the Notes at any time prior to the Maturity Date without penalty.

event of default occurs, the then-outstanding principal amount of the Notes plus any unpaid accrued interest will accelerate and

become immediately payable in cash.

Warrant has an exercise price of $ 297.00

per share, is immediately exercisable and has a five 5 -year

Such Warrants were determined as eligible for equity classification.

the initial date, the total proceeds received of $ 80 were allocated to the Notes and the Warrants based on their relative fair value

of the identified components (i.e.

Notes and Warrants) as determined by the Company’s management as follows:

OF FAIR VALUE OF THE IDENTIFIED COMPONENTS

Fair value at

Fair value at Closing

of June 30, 2025, all Notes have been settled by the Company.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)(CONT.)

thousands of US Dollars)

4 – COMMITMENTS AND CONTINGENT LIABILITIES

March 4, 2004, the Israeli Innovation Authority (the “IIA”) provided Integrity Israel with a grant of approximately $ 93

(NIS 420,000 ), for its plan to develop a non-invasive blood glucose monitor (the “Development Plan”).

Integrity Israel

is required to pay royalties to the IIA at a rate ranging between 3 - 5 % of the proceeds from the sale of the Company’s products

arising from the Development Plan up to an amount equal to $ 93 plus interest at LIBOR from the date of grant.

As to the replacement

of the LIBOR benchmark rate, even though the IIA has not declared the alternative benchmark rate to replace the LIBOR, the Company

does not believe it will have a significant impact.

As of June 30, 2025, the remaining contingent liability with respect to royalty

payment on future sales equals approximately $ 93 excluding interest.

Such contingent obligation has no expiration date.

On October 7, 2022 (“the Closing Date”), the Company entered into Intellectual Property Purchase Agreement (the “Agreement”) with Paul Goode, which is the Company’s Chief Executive Officer (the “Seller”), under which it was agreed that on and subject to the terms and conditions of the Agreement, at the Closing Date, Seller sold and assigned to the Company, all of Seller’s right, title and interest in and to the following assets, properties and rights (collectively, the “Purchased Assets”):

(i) all rights, title, interests in all current and future intellectual property, including, but not limited to patents, trademarks, trade secrets, industry know-how and other IP rights relating to an implantable continuous glucose sensor (collectively, the “Conveyed Intellectual Property”);

October 7, 2022 (“the Closing Date”), the Company entered into Intellectual Property Purchase Agreement (the “Agreement”)

with Paul Goode, which is the Company’s Chief Executive Officer (the “Seller”), under which it was agreed that

on and subject to the terms and conditions of the Agreement, at the Closing Date, Seller sold and assigned to the Company, all of

Seller’s right, title and interest in and to the following assets, properties and rights (collectively, the “Purchased

(i) all rights, title, interests in all current and future intellectual property, including, but not limited to patents,

trademarks, trade secrets, industry know-how and other IP rights relating to an implantable continuous glucose sensor (collectively,

the “Conveyed Intellectual Property”);

and (ii) all the goodwill relating to the Purchased Assets.

In consideration for the sale of the Purchased Assets

to the Company, at the Closing Date, the Company paid to Seller cash in the amount of one dollar and obligated to issue up to 10,000 shares

of Common Stock to be issued based upon specified performance milestones as set forth in the Agreement (the “Purchase Price”).

In addition, if upon the final issuance, the aggregate 10,000 shares represent less than 1.5 % of the then outstanding Common Stock of

the Company, the final issuance will include such number of additional shares so that the total aggregate issuance equals 1.5 % of the

outstanding shares (the “True-Up Shares”).

All shares of Common Stock of the Company that will be issued under the agreement

shall be (i) restricted over a limited period as defined in the Agreement and (ii) subject to the lockup provisions.

When the Company acquires net assets that do not constitute

a business, as defined under ASU 2017-01 Business Combinations (Topic 805) Clarifying the Definition of a Business (such when there is

no substantive process in the acquired entity) the transaction is accounted for as asset acquisition and no goodwill is recognized.

acquired In-Process Research and Development intangible asset (“IPR&D”) to be used in research and development projects

which have been determined not to have alternative future use at the acquisition date, is expensed immediately.

At the Closing Date, it was determined that the asset

acquisition represents the purchase of IPR&D with no alternative future use.

However, the achievement of each of the performance milestones

is considered as a contingent event outside the Company’s control and thus the contingent consideration which is equal to the fair

value of the Purchase Price as measured at the Closing Date will be recognized when and if it becomes probable that each target will be

achieved within the reasonable period.

Such additional contingent consideration will be recognized in subsequent periods if and when the

contingency (the achievement of targets) is resolved.

In June 2023, the Seller achieved the first performance

milestone out of the five performance milestones outlined in the Agreement executed between the Company and the Seller as of the Closing

As a result, upon the date of the fulfilment of the first performance milestone the Company was committed to issue 1,000 restricted

shares to the Seller.

Accordingly, the Company recorded an amount of $ 131 as stock-based compensation expenses with a similar amount as

an increase to additional paid-in capital.

The first performance milestone shares were issued on February 6, 2024.

In May 2024, the second performance milestone was

achieved out of the five performance milestones outlined in the Agreement executed between the Company and the Seller as of the Closing

As result, the Company was committed to issue 1,500

restricted shares to the Seller.

Accordingly, the Company recorded stock-based compensation expenses amounted to $ 192 which represents

the quoted price of its Common Stock at the Closing Date, after taking into consideration a discount for lack of marketability in a rate

of 30 % over the applicable restriction period.

The second performance milestone shares were issued on November 20, 2024, excluding 11,000

shares that were issued erroneously and were returned to the Company subsequent to the balance sheet date.

On March 26, 2025, the Board determined that the third

milestone was met and that an additional 2,500 shares of Common Stock have been earned under the terms of the IP Purchase Agreement.

a result, an amount of $ 0.6 was recognized to stock-based compensation.

The shares were issued in reliance on the exemption from

registration requirements thereof provided by Section 4(a)(2) of the Securities Act.

As of March 31, 2025, the achievement of all other

remaining performance milestones was not considered probable and thus no stock-based compensation expenses were recorded with respect

GLUCOTRACK INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)(CONT.)

(in thousands of US Dollars)

consideration for the sale of the Purchased Assets to the Company, at the Closing Date, the

Company paid to Seller cash in the amount of one dollar and obligated to issue up to 10,000

shares of Common Stock to be issued based upon specified performance milestones as set forth

in the Agreement (the “Purchase Price”).

In addition, if upon the final issuance,

the aggregate 10,000 shares represent less than 1.5 % of the then outstanding Common Stock

of the Company, the final issuance will include such number of additional shares so that

the total aggregate issuance equals 1.5 % of the outstanding shares (the “True-Up Shares”).

All shares of Common Stock of the Company that will be issued under the agreement shall be

(i) restricted over a limited period as defined in the Agreement and (ii) subject to the

lockup provisions.

the Company acquires net assets that do not constitute a business, as defined under ASU 2017-01 Business Combinations (Topic 805)

Clarifying the Definition of a Business (such when there is no substantive process in the acquired entity) the transaction is accounted

for as asset acquisition and no goodwill is recognized.

The acquired In-Process Research and Development intangible asset (“IPR&D”)

to be used in research and development projects which have been determined not to have alternative future use at the acquisition

date, is expensed immediately.

the Closing Date, it was determined that the asset acquisition represents the purchase of IPR&D with no alternative future use.

However, the achievement of each of the performance milestones is considered as a contingent event outside the Company’s control

and thus the contingent consideration which is equal to the fair value of the Purchase Price as measured at the Closing Date will

be recognized when and if it becomes probable that each target will be achieved within the reasonable period.

Such additional contingent

consideration will be recognized in subsequent periods if and when the contingency (the achievement of targets) is resolved.

June 2023, the Seller achieved the first performance milestone out of the five performance milestones outlined in the Agreement executed

between the Company and the Seller as of the Closing Date.

As a result, upon the date of the fulfilment of the first performance

milestone the Company was committed to issue 17 restricted shares to the Seller.

Accordingly, the Company recorded an amount of $ 131

as stock-based compensation expenses with a similar amount as an increase to additional paid-in capital.

The first performance milestone

shares were issued on February 6, 2024.

May 2024, the second performance milestone was achieved out of the five performance milestones outlined in the Agreement executed

between the Company and the Seller as of the Closing Date.

result, the Company was committed to issue 25 restricted shares to the Seller.

Accordingly, the Company recorded stock-based compensation

expenses amounted to $ 192 which represents the quoted price of its Common Stock at the Closing Date, after taking into consideration

a discount for lack of marketability in a rate of 30 % over the applicable restriction period.

The second performance milestone shares

were issued on November 20, 2024, excluding 184 shares that were issued erroneously and were returned to the Company subsequent to

the balance sheet date.

March 26, 2025, the Board determined that the third milestone was met and that an additional 42 shares of Common Stock have been

earned under the terms of the IP Purchase Agreement.

As a result, an amount of $ 0.6 was recognized to stock-based compensation.

shares were issued in reliance on the exemption from registration requirements thereof provided by Section 4(a)(2) of the Securities

of June 30, 2025, the achievement of all other remaining performance milestones was not considered probable and thus no stock-based

compensation expenses were recorded with respect to thereof.

SUBSEQUENT EVENTS

ATM Sales Agreement

On December 17, 2024, the Company entered into an

ATM sales agreement (the “Sales Agreement”) with Dawson James Securities, Inc.

(“Dawson James”), pursuant to which

the Company have agreed to issue and sell shares of Common Stock, having an aggregate offering price of up to $ 8.23 million, from time

to time, through an “at-the-market” equity offering program under which Dawson James will act as sales agent (the “Agent”).

See Note 3A above.

From April 30, 2025 to May 9, 2025, the Company

sold 3,056,856

shares of Common Stock at an average offering price of $ 0.183

share pursuant to the Sales Agreement for net proceeds of $ 543 ,

after deducting fees owed to the Agent from such sale.

evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the condensed interim

consolidated financial statements were available to be issued.

Based upon this review, the Company did not identify any other significant

subsequent events that would have required adjustment or disclosure in the financial statements,

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements