Related Parties

6 Months Ended

Jun. 30, 2023

Related Parties [Abstract]

RELATED PARTIES

NOTE 6 – RELATED PARTIES

a. In support of the Company’s efforts and cash requirements, the Company may rely on advances from related parties until such a time that the Company can support its operations or attains adequate financing through sales of stock or traditional debt financing. There is no formal written commitment for continued support by related parties.

(i) The compensation to key management personnel for employment services they provide to the Company is as follows:  

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Consulting Fees – CEO	$	21	$	21	$	42	$	42
Consulting Fees - CFO	$	11	$	2	$	20	$	6

No director fees were paid during the six months ended June 30, 2023 and 2022.

(ii) Balances owed to related parties

	June 30,		December 31,
	2023		2022
Consulting Fees - CEO	$	14	$	28
Consulting Fees - CFO		4		17
Medigus		48		550
	$	66	$	595

b. The Company currently operates out of an office of a related party free of rent.

c. As of January 1, 2023, Charging Robotics owed a related party $550 (“Medigus Loan”). The Medigus Loan bears interest in accordance with section 3(i) of the Israeli tax code (2.42% annually during 2022) and no fixed date for repayment has been determined. On January 1, 2023, Charging Robotics and Medigus signed an agreement to amend the terms of the Medigus Loan (“Medigus Loan Agreement”). Pursuant to the Medigus Loan Agreement, the interest rate remains unchanged, and the capital and interest will be repaid in cash or shares, or a combination thereof by the earlier of (i) the completion of the Medigus Transaction or (ii) June 30, 2023. On April 4, 2023, the Medigus Loan balance owing was $553. $509 of the Medigus Loan was converted into 28 shares of Charging Robotics and the balance will be repaid in cash.

d. On October 1, 2021, Charging Robotics signed a consulting agreement with the CEO, pursuant to which Charging Robotics will pay the CEO a monthly fee of NIS 24,700 (approximately $7). Subject to approval of Charging Robotics’ board of directors (“Board”), the CEO shall be entitled to receive stock options in the Company that will entitle him to own 3% of Charging Robotics. The options will have an exercise price equivalent to a Charging Robotics valuation of $10,000. As of the date of this report, the options have not been issued as the Board has not yet approved their issuance.

During the six months ended June 30, 2023, the CEO earned $42 (during the six months ended June 30, 2022 - $42).