Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING STANDARDS (Tables)

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING STANDARDS (Tables)
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
SCHEDULE OF ESTIMATED USEFUL LIVES

Depreciation is provided for by the straight-line method over the estimated useful lives as follows:

 

Property and Equipment   Estimated Useful Life
Facility and scientific equipment   4-10 years
Computer equipment   3 years
Office equipment   5 years
SCHEDULE OF BASIC AND DILUTED LOSS PER SHARE

 

   

Year Ended

December 31,

2023

    

Year Ended

December 31,

2022

  
Net loss     (5,906,953 )     (1,313,601 )
Basic and diluted weighted average number of shares outstanding(1)     6,178,423       687,199  
                 
Basic and diluted loss per share     (0.96 )     (1.91 )

 

  (1) On November 18, 2022, the Company completed a reverse stock split of one (1) new share for every fifty (50) existing shares effective November 21, 2022. As a result of the share split, all references in these financial statements and accompanying notes to units of ordinary shares or per share amounts are reflective of the reverse share split for all periods presented. In addition, the exercise prices and the numbers of ordinary shares issuable upon the exercise of any outstanding options to purchase ordinary shares were proportionally adjusted pursuant to the respective anti-dilution terms of the share-based payment plans.