SHARE-BASED COMPENSATION

3 Months Ended

Mar. 31, 2023

Share-based Payment Arrangement [Abstract]

NOTE 3 - SHARE-BASED COMPENSATION

On January 2, 2023, options to purchase an aggregate of 534,246 ordinary shares were granted to six non-executive board members with an exercise price of $0.73 per share which was the share price on the grant day. The options vest over one year in four equal quarterly installments starting on the date of grant. This grant was approved by the shareholders of the Company on October 4, 2021. The fair value of the options at the date of grant was $253. The fair value of each option granted is estimated at the date of grant using the Black-Scholes option-pricing model, with the following weighted average assumptions:

	Three months ended March 31, 2023
Exercise price	$	0.73
Dividend yield		-
Expected volatility		74	%
Risk-free interest rate		3.98	%
Expected life - in years		5.3