Related Party Balances and Transactions |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Balances and Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RELATED PARTY BALANCES AND TRANSACTIONS |
On March 2, 2025, the Company signed an agreement to raise $100 and to issue 200,000 shares of common stock and 100,000 warrants to purchase common stock at an exercise price of $1.00 per share to Company’s chief executive officer. The warrants will expire on July 15, 2026.
On March 5, 2025, the Company entered into a service agreement with Ajay Kumar Dhadha, pursuant to which Mr. Dhadha will serve as a member of our Board and as chairman of the Board. Pursuant to the service agreement, on March 5, 2025, the Company granted Mr. Dhadha 350,000 restricted shares of the Company’s Common Stock and warrants to purchase up to 250,000 shares of Common Stock at an exercise price of $1.00 per share, with a total value of $22. The warrants will expire on December 31, 2026. On March 10, 2025, the Company updated a service agreement with one of Company’s directors and extended the service term until December 31, 2025. As compensation for the services, the director will be granted with warrants to purchase up to 200,000 of the Company’s common stock at an exercise price of $1.00 per share, with a total value of $8. The warrants will expire on March 10, 2026.
On July 31, 2025, the Company entered into a service agreement with Mr. Zvi Laufer, pursuant to which Mr. Laufer will serve as a member of our Board. Pursuant to the service agreement, on July 31, 2025, the Company granted Mr. Laufer warrants to purchase up to 300,000 shares of Common Stock at an exercise price of $0.75 per share, with a total value of $39. The warrants will expire on July 31, 2027.
During June 2025 and the third quarter of 2025, we obtained several loans in the amount of $38,384 from the Company’s CEO. The loans do not bear any interest and will be repaid once the Company has sufficient funds.
The following related party payables are included in accounts payable and accrued expenses.
The Company’s CEO and CFO are guarantees for the repayment of the loan.
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