Related Parties

9 Months Ended

Sep. 30, 2024

Related Parties [Abstract]

RELATED PARTIES

NOTE 5 – 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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Consulting Fees – CEO	$	20	$	21	$	60	$	63
Consulting Fees - CFO	$	9	$	12	$	27	$	32
Directors’ compensation	$	21	$	21	$	63	$	42

(ii) Balances owed to (by) related parties

	September 30,			December 31,
	2024			2023
Consulting Fees – CEO	$	20		$	8
Consulting Fees – CFO		12			8
Directors		70			27
Revoltz (see note 4b)		(64	)		(62	)
Xylo (see note 5c)		57			55
	$	95		$	36

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

c. As of January 1, 2023, CR Israel owed Xylo Technologies Ltd., f/k/a Medigus Ltd., a related party (“Xylo”) $550 (the “Xylo Loan”). The Xylo 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, CR Israel and Xylo signed an agreement to amend the terms of the Xylo Loan (the “Xylo Loan Agreement”). Pursuant to the Xylo Loan Agreement, the interest rate remains unchanged, and the capital and interest was to be repaid in cash or shares, or a combination thereof by June 30, 2023. On April 4, 2023, the Xylo Loan balance owing was $553. $509 of the Xylo Loan was converted into 28 shares of CR Israel and the remaining Xylo Loan balance will be repaid in cash. The Company is in discussions with Xylo to extend the repayment date of the remaining loan balance.

d. On October 1, 2021, CR Israel signed a consulting agreement with the CEO, pursuant to which CR Israel will pay the CEO a monthly fee of NIS 24,700 (approximately $7). Subject to approval of CR Israels’ 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 Company 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 nine months ended September 30, 2024, the CEO earned $60 (during the nine months ended September 30, 2023 - $63).