$GCTK

Integrity Applications, Inc.

CIK:0001506983|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses
Research and development expenses	$ 2,016	$ 3,150	$ 4,148	$ 5,021
General and administrative expenses	1,384	1,646	3,455	3,273
Total operating expenses	3,400	4,796	7,603	8,294
Operating loss	3,400	4,796	7,603	8,294
Other (income) expense
Change in fair value of derivative Liabilities		(107)	(1)	3,269
Other (income) expense, net	414	96	546	92
Finance income, net		(29)		(66)
Net Loss	3,814	4,756	8,148	11,589
Other comprehensive income:
Foreign currency translation adjustment	(8)	(29)	(11)	(65)
Comprehensive loss for the period	$ 3,806	$ 4,727	$ 8,137	$ 11,524
Basic net loss per common stock	$ 0.76	$ 9.62	$ 2.44	$ 34.81
Diluted net loss per common stock	$ 0.76	$ 9.62	$ 2.44	$ 34.81
Weighted average number of common stock used in computing basic loss per common stock	5,009,085	494,504	3,332,919	332,931
Weighted average number of common stock used in computing diluted loss per common stock	5,009,085	494,504	3,332,919	332,931

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Loss for the period	$ (8,148)	$ (11,589)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	43	19
Stock-based compensation	120	80
Amortization of original issue discount related to promissory note	298
Loss on extinguishment of debt	266
Change in fair value of derivative liability	(1)	3,269
Amortization of debt discount and interest expense related to promissory notes		5
Loss on warrant repurchase		95
Changes in assets and liabilities:
Other current assets	27	(371)
Accounts payable	(201)	1,652
Other current liabilities	(68)	157
Net cash used in operating activities	(7,664)	(6,683)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment		(9)
Net cash used in investing activities		(9)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from exercise of pre-funded warrants	1
Net proceeds from ELOC financing	1,692
Payment of promissory note	(299)
Net proceeds from underwritten U.S. public offerings		10,715
Series A warrant repurchase		(160)
Net cash provided by financing activities	1,394	10,555
Effect of exchange rate changes on cash and cash equivalents, and restricted cash	11	65
Change in cash and cash equivalents, and restricted cash	(6,259)	3,928
Cash and cash equivalents, and restricted cash at beginning of the period	7,383	5,627
Cash and cash equivalents, and restricted cash, end of period	1,124	9,555
(a) Net cash paid during the quarter for:
Interest	$ 15	$ 81

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 1,124	$ 7,383
Other current assets	257	284
Total current assets	1,381	7,667
Operating lease right-of-use asset, net	19	33
Property and equipment, net	95	138
TOTAL ASSETS	1,495	7,838
Current Liabilities
Accounts payable	1,116	1,317
Operating lease liability, current	19	28
Promissory notes	1,692	3,182
Other current liabilities	161	246
Total current liabilities	2,988	4,773
Non-Current Liabilities
Derivative financial liabilities		1
Operating lease liability, non-current		5
Loans from stockholders	248	231
Total liabilities	3,236	5,010
Commitments and contingent liabilities (Note 4)
Stockholders’ Equity (Deficit)
Common Stock of $0.001 par value 250,000,000 shares authorized as of June 30, 2026 and as of December 31, 2025; 6,259,279 and 910,688 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	6	1
Additional paid-in capital	158,187	151,080
Receipts on account of shares		3,544
Accumulated other comprehensive income	52	41
Accumulated deficit	(159,986)	(151,838)
Total stockholders’ equity (deficit)	(1,741)	2,828
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$ 1,495	$ 7,838