| NOTE 3:- |
FINANCIAL INSTRUMENTS
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a. |
Financial instruments are measured either at fair value or at amortized cost. The table below lists the valuation methods used to determine fair value of each financial instrument.
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Financial Instruments Measured at Fair Value
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Fair Value Method
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Liability for Warrants *)
Investment in affiliates
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Black & Scholes model (Level 3 category)
Market comparable (Level 3 category)
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Management believes that the carrying amount of cash and cash equivalents, trade receivables, other accounts receivable, trade payables, bank loans and credit facility, other account payables and accrued expenses and accrued purchase consideration payable approximate their fair value due to the short-term maturities of these instruments.
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*) |
Finance (income) expenses include fair value adjustment of Warrants measured at fair value, which for the six months ended June 30, 2023 and 2022, amounted to $(3,304) and $(5,703) respectively.
Finance (income) expenses include fair value adjustment of Warrants measured at fair value, for the three months ended June 30, 2023 and 2022, amounted to $66 and $(3,028), respectively.
The Warrants fair value as of June 30, 2023 was measured using the Black & Scholes model with the following key assumptions:
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Issue date
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May 2023
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February 2023
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May 2021
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Expected volatility
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97
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%
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104
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%
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97
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%
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Share price (Canadian Dollar)
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1.22
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1.22
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1.22
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Expected life (in years)
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2.836
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2.589
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2.836
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Risk-free interest rate
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3.62
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%
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3.70
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%
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3.62
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%
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Expected dividend yield
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0
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%
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0
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%
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0
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%
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Fair value:
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Per Warrant (Canadian Dollar)
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$
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0.613
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$
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0.629
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$
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0.237
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Total Warrants (Canadian Dollar in thousands)
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$
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302
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$
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3,317
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$
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70
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