SYNX Silynxcom Ltd

Exhibit 99.2

 

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

 

Cautionary Statement Regarding Forward-Looking Statements

 

Certain information included herein may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Forward-looking statements are often characterized by the use of forward-looking terminology such as “may,” “will,” “expect,” “anticipate,” “estimate,” “continue,” “believe,” “should,” “intend,” “project” or other similar words, but are not the only way these statements are identified.

 

These forward-looking statements may include, but are not limited to, statements relating to our objectives, plans and strategies, statements that contain projections of results of operations or of financial condition, expected capital needs and expenses, statements relating to the research, development and use of our products, and all statements (other than statements of historical facts) that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future.

 

Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. We have based these forward-looking statements on assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate.

 

Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among other things:

 

●

our planned level of revenues and capital expenditures;

 

●

our ability to market and sell our products;

 

●

our ability to maintain our business model;

 

●

our ability to project market growth and trends;

 

●

our ability to secure government tenders and maintain relationships with government contractors;

 

●

our ability to maintain our relationships with suppliers, manufacturers, and other partners;

 

●

our ability to elicit a greater positive reception for our technology and devices than other similar devices that are sold on the market;

 

●

our available cash and ability to raise additional financing;

 

●

the effect of competition and other technologies;

 

●

projected capital expenditures and liquidity;

 

●

the effects of any litigation;

 

●

our plans to continue to invest in research and development to develop technology for both existing and new products;

 

●

our ability to maintain, protect and enhance our intellectual property;

 

●

our ability to retain key executive members and employees;

 

 

●

our ability to educate the industry about the use of our products;

 

●

our expectations regarding our tax classifications;

 

●

interpretations of current laws and the passage of future laws;

 

●

general market, political, and economic conditions in the countries in which we operate including those conditions related to recent unrest and actual or potential armed conflict in Israel and other parts of the Middle East, such as Israel’s multi-front war; and

 

●

those factors referred to in “Item 3.D. Risk Factors,” “Item 4. Information on the Company,” and “Item 5. Operating and Financial Review and Prospects”, in our Annual Report (as defined below).

 

These statements are only current predictions and are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. For a more detailed description of the risks and uncertainties affecting us, reference is made to our annual report on Form 20-F for the fiscal year ended December 31, 2023, which we filed with the Securities and Exchange Commission, or the SEC, on April 30, 2024, or the Annual Report, and the other risk factors discussed from time to time by us in reports filed or furnished to the SEC.

 

Except as required by law, we are under no duty to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this Report of Foreign Private Issuer on Form 6-K.

 

Unless otherwise indicated, all references to “we,” “us,” “our,” the “Company” and “Silynxcom” refer to Silynxcom Ltd. Our reporting and functional currency is the U.S. dollar. Unless otherwise expressly stated or the context otherwise requires, references in this Report of Foreign Private Issuer on Form 6-K to “NIS” are to New Israeli Shekels and references to “dollars” or “$” are to U.S. dollars. We prepare and report our financial statements in accordance with International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or IASB.

 

Overview

 

We develop, manufacture, market, and sell ruggedized tactical communication headset devices as well as other communication accessories, all of which have been field-tested and combat-proven. Our in-ear headset devices, or In-Ear Headsets, are used in combat, the battlefield, riot control, demonstrations, weapons training courses, and on the factory floor. Our In-Ear Headsets seamlessly integrate with third party manufacturers of professional-grade ruggedized radios that are used by soldiers in combat or by police officers in leading military and law enforcements units. Our In-Ear Headsets also fit tightly into the protective gear to enable users to speak and hear clearly and precisely while they are protected from the hazardous sounds of combat, riots or dangerous situations. The sleek, lightweight, In-Ear Headsets include active sound protection to eliminate unsafe sounds, while maintaining ambient environmental awareness, giving our customers 360° situational awareness. We work closely with our customers and seek to improve the functionality and quality of our products based on actual feedback from soldiers and police officers “in the field.” We sell our In-Ear Headsets and communication accessories directly to military forces, police and other law enforcement units. We also deal with specialized networks of local distributors in each locale in which they operate and have developed key strategic partnerships with radio equipment manufacturers.

 

Components of our Results of Operations

 

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited interim condensed consolidated financial statements and the related notes thereto for the six months ended June 30, 2024, included elsewhere in this Report of Foreign Private Issuer on Form 6-K. The discussion below contains forward-looking statements that are based upon our current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to inaccurate assumptions and known or unknown risks and uncertainties.

 

Revenues

 

Our revenues are generated through the sale of our products.  

 

Cost of Revenues

 

Our cost of revenues consists primarily of costs related to our direct and indirect sales, including the cost of components. Cost of revenues are primarily driven by the orders customers place for our products and as revenue for our products grows, we expect a corresponding increase in our cost of revenues.

 

 

Operating Expenses

 

Our current operating expenses consist of three components — research and development expenses, selling and marketing expenses and general and administrative expenses.

  

Research and Development Expenses

 

Our research and development expenses consist primarily of salaries and related personnel expenses, subcontractor’s expenses and other related research and development expenses.

 

Selling and Marketing

 

Our selling and marketing expenses consist primarily of consultants and personnel salaries and other marketing and sales expenses

 

General and Administrative Expenses

 

General and administrative expenses consist primarily of salaries and related expenses, professional services fees for accounting, legal and bookkeeping, facilities, travel expenses and other general and administrative expenses.

 

Finance income (expense), net

 

Finance expenses consist primarily of foreign currency exchange rate differences between the U.S. dollar and new Israeli shekel.

 

Comparison of the Six Months Ended June 30, 2024 and June 30, 2023

 

Results of Operations

 

The following table sets forth our results of operations for the periods presented.

 

		Six Months Ended June 30,
U.S. dollars in thousands		2024				2023
Revenues		$	5,356			$	3,096
Cost of revenues			2,706				1,901
Gross profit		$	2,650			$	1,195
Research and development expenses			259				569
Selling and marketing expenses			699				1,989
General and administrative expenses			1,425				965
Operating profit (loss)		$	267			$	(2,328	)
Listing expenses			(879	)			-
Finance expenses			232				35
Finance income			148				37
Net income loss		$	(696	)		$	(2,326	)
Total comprehensive loss			(696	)			(2,326	)
Basic and diluted net loss per share		$	(0.1358	)		$	(0.7355	)

 

 

Revenues

 

The following table summarizes our revenues by type for the periods presented. The period-to-period comparison of results is not necessarily indicative of results for future periods.

 

Set forth below is a table presenting breakdown of our revenues by our two product groups in the six-month periods ended June 30, 2024, and 2023:

 

		June 30, 2024								June 30, 2023
Product group		Amount (in USD thousands)				% of total revenue				Amount (in USD thousands)				% of total revenue
In-Ear Headset systems		$	3,389				63.3	%		$	2,143				69.2	%
SST Headset systems		$	1,655				30.9	%		$	678				21.9	%
Other revenues		$	312				5.8	%		$	275				8.9	%
Total		$	5,356				100	%		$	3,096				100	%

 

Set forth below is information about our revenues from sale of our products by geography in the six-month periods ended June 30, 2024 and 2023:

 

		Revenues (in USD thousands)
Geography		June 30, 2024				June 30, 2023
Israel		$	3,613			$	1,260
Asia		$	943			$	1,015
USA		$	558			$	623
Europe		$	242			$	78
Rest of the world		$	-			$	120
Total revenue		$	5,356			$	3,096

 

Our revenues for the six months ended June 30, 2024 amounted to $5,356 representing an increase of 73%, compared to $3,096 thousand for the six months ended June 30, 2023. The increase is attributable to an increase in sales of our SST Headset systems, which was partially offset by a decrease in sales of our In-Ear Headset systems.

 

Cost of Revenues and Gross Profit

 

Our cost of revenues for the six months ended June 30, 2024 increased by 42.34% to $2,706 thousand, compared to $1,901 thousand for the six months ended June 30, 2023. The increase in gross profit is due to an increase in sales. Our gross profit for the six months ended June 30, 2024 increased by 121% to $2,650 thousand, compared to $1,195 thousand for the six months ended June 30, 2023. The increase in gross profit is primarily attributable to an increase in sales and a decrease in share-based compensation expenses.

 

Research and development expenses 

 

Research and development, or R&D, expenses decreased by 54.48% to $259 thousand during the six months ended June 30, 2024 compared with $569 thousand for the six months ended June 30, 2023. The decrease is primarily due to a decrease in share-based compensation expenses.

 

Selling and marketing expenses

 

Selling and marketing expenses for the six months ended June 30, 2024 decreased by 64.8% to $699 thousand, compared to $1,989 thousand for the six months ended June 30, 2023. The decrease in selling and marketing expenses is due to a decrease in share-based compensation expenses.

 

 

General and administrative expenses

 

General and administrative expenses increased by 47.69% to $1,425 thousand for the six months ended June 30, 2024, compared to $965 thousand for the six months ended June 30, 2023. The increase is mainly due to consulting, investor relations, and insurance expenses.

 

Operating profit (loss)

 

Based on the foregoing, our operating profit was $267 thousand for the six months ended June 30, 2024, compared to an operating loss of from $2,328 thousand for the six months ended June 30, 2023. 

 

Finance expenses

 

Finance expenses for the six months ended June 30, 2024 were $232 thousand compared to finance expenses of $35 thousand for the six months ended June 30, 2023. The increase in finance expenses is primarily due to the fluctuation in foreign exchange rates, particularly the US dollar appreciating against the new Israeli shekel.

 

Finance income

 

Finance income, for the six months ended June 30, 2024 was $148 thousand compared to finance income of $37 thousand for the six months ended June 30, 2023. The increase in finance income is primarily due to the revaluation of marketable securities.

 

Net loss

 

Net loss for the six months ended June 30, 2024 decreased to $696 thousand by 70.1%, compared with a net loss of $2,326 thousand for the six months ended June 30, 2023. The decrease is attributable to NYSE American listing expenses and share-based compensation expenses.

 

Liquidity and Capital Resources

 

Overview

 

Since our inception through June 30, 2024, we have funded our operations primarily from cash generated from our operating activities and the issuance of ordinary securities. As of June 30, 2024, we had $668 thousand in cash and cash equivalents, compared with $568 thousand as of December 31, 2023.

 

The table below presents our cash flows for the periods indicated.

 

		Six Months Ended June 30,
U.S. dollars in thousands		2024				2023
Net cash provided by (used in) operating activities		$	(640	)		$	403
Net cash used in investing activities			(3,063	)			(15	)
Net cash provided by (used in) financing activities			3,805				(101	)
Net increase in cash and cash equivalents			100				282

 

 

Operating Activities

 

Net cash used in operating activities for the six months ended June 30, 2024 was $640 thousand. This net cash used in operating activities primarily reflects a decrease in other accounts payable and the result of NYSE American listing expenses and share-based compensation expenses.

 

The net decrease in changes in operating assets and liabilities for the six months ended June 30, 2024, is attributable mainly to a decrease in trade receivables. This net decrease was partially offset by a decrease in trade payables and other accounts payable.

 

Net cash provided by operating activities for the six months ended June 30, 2023 was $403 thousand. This net cash provided by operating activities primarily reflects share-based compensation expenses adjustments.

 

The decrease in changes in operating assets and liabilities for the six months ended June 30, 2023, is attributable to a decrease in trade payables and a decrease in other accounts payable. This net decrease was partially offset by a decrease in trade receivables.

 

Investing Activities

 

Net cash used in investing activities for the six months ended June 30, 2024 was $3,063 thousand. This net cash used for investing activities is primarily attributable to investing in marketable securities.

 

Net cash used in investing activities for the six months ended June 30, 2023 was $15 thousand. This net cash used in investing activities is primarily attributable to the purchase of property and equipment and an increase in long-term bank deposits.

 

Financing Activities

 

Net cash provided by financing activities for the six months ended June 30, 2024 was $3,805 thousand, compared to net cash used in financial activities $101 thousand during the six months ended June 30, 2023.

 

The increase in changes in financing activities for the six months ended June 30, 2024 is attributable to the issuance of 1,250,000 Ordinary Shares in our initial public offering on NYSE American, which closed on January 17, 2024. This increase was partially offset by a repayment of warrants to Bank Mizrahi and certain former and current shareholders pursuant to certain investor agreements.

 

Current Outlook

 

We have financed our operations to date primarily from cash generated from our operating activities and the issuance of securities.

 

As of June 30, 2024, our cash and cash equivalents were $668 thousand and we had positive working capital of $6,562 thousand. We believe that our current cash and cash equivalents position is sufficient to fund our working capital requirements and planned operations for at least the next 12 months beyond the filing date of this Report of Foreign Private Issuer on Form 6-K.

 

However, our operating plans may change as a result of many factors that may currently be unknown to us and we may need to seek additional funds. Our future capital requirements will depend on many factors, including:

 

●

our ability to sell our products according to our plans;

 

●

the progress and cost of our research and development activities;

 

●

the costs associated with the manufacturing our products;

 

●

the costs of working capital;

 

 

●

significant new orders that need to be financed;

  

●

the cost of our commercialization efforts, marketing, sales and distribution of our products the potential costs of contracting with third parties to provide marketing and distribution services for us or for building such capacities internally; and

 

●

the magnitude of our general and administrative expenses.

 

Critical Accounting Estimates

 

The preparation of financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. A comprehensive discussion of our critical accounting policies is included in “Critical Accounting Estimates” under “Operating and Financial Review and Prospects” section in our Annual Report, as well as our unaudited interim condensed consolidated financial statements and the related notes thereto as of and for the six months ended June 30, 2024, included elsewhere in this Report of Foreign Private Issuer on Form 6-K.

 

We prepare our financial statements in accordance with IFRS as issued by the IASB. At the time of the preparation of the financial statements, our management is required to use estimates, evaluations, and assumptions which affect the application of the accounting policy and the amounts reported for assets, obligations, income, and expenses. Any estimates and assumptions are continually reviewed. The changes to the accounting estimates are credited during the period in which the change to the estimate is made.

 

 

Exhibit 99.3

 

Silynxcom Announces Results for First Half of 2024; Significant Revenue Growth and Improvement in Gross Margin

 

NETANYA, Israel, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Silynxcom Ltd. (NYSE American: SYNX) (“Silynxcom” or the “Company”), a manufacturer and developer of ruggedized tactical communication headset devices as well as other communication accessories, reported its consolidated financial results as of and for the six months ended June 30, 2024.

 

Key Financial Highlights for the First Half of 2024:

 

●

Revenues - for the six months ended June 30, 2024 were $5,356 thousand, an increase of 73% from the equivalent period in 2023.

 

●

Gross profit - for the six months ended June 30, 2024 was $2,650 thousand, an increase of 121% from the equivalent period in 2023.

 

●

Gross margin for the six months ended June 30, 2024 was 49.47%, compared to 38.59% in the equivalent period in 2023.

 

●

Cash and Cash Equivalents - On January 17, 2024, Silynxcom successfully completed its initial public offering (the “IPO”), raising $5 million in gross proceeds by issuing 1.25 million ordinary shares, adding to a cash and cash equivalents and marketable securities balance of $3,659 thousand as of June 30, 2024, up from $568 thousand as of December 31, 2023, demonstrating strong liquidity to support ongoing investments and operations.

 

●

Operating profit - Operating profit was $267 thousand for the six months ended June 30, 2024, compared to an operating loss of $2,328 thousand for the equivalent period in 2023, reflecting a decrease in share-based compensation expenses. Non-IFRS operating profit amounted to $695 thousand for the six months ended June 30, 2024, representing an increase of more than 46% compared to $476 thousand for the equivalent period in 2023. A reconciliation between operating profit (loss) and non-IFRS operating profit (loss) is provided in Appendix A of this press release.

 

●

Net loss - Net loss was $696 thousand for the six months ended June 30, 2024, including $879 thousand in listing expenses, compared to a net loss of $2,326 thousand for the equivalent period in 2023. Non-IFRS net income for the six months ended June 30, 2024 totaled $611 thousand, representing an increase of more than 27% compared to $478 thousand for the equivalent period in 2023. A reconciliation between net income (loss) and non-IFRS net income is provided in Appendix A of this press release.

 

“The first half of 2024 was a period of business expansion, growth and strategic investment for Silynxcom, as highlighted by our public listing on the NYSE American following a successful IPO in January 2024,” said Nir Klein, Chief Executive Officer of Silynxcom. “Our revenue increased during the first half of 2024 and we became cashflow positive, which we believe underscores our successful market expansion and enhanced financial stability.”

 

“In 2023, we laid the foundation for new and advanced products and increased compatibility for leading systems in our target markets. In addition, we forged new relationships with key players in the global defense and law enforcement sectors, which have already led to purchase orders in 2024,” added Mr. Klein.

 

Recent Corporate Highlights:

 

●

In April 2024, the Company announced the strengthening of its collaboration with 3M PELTOR to deliver next generation headset solutions.

 

●

The Company expanded sales in the Asia Pacific region.

 

●

Since October 2023, the Company has secured orders amounting to $4.85 million from the Israel Defense Forces and Israeli police forces.

 

 

●

In February 2024, the Company announced a third order from a leading global defense firm, bringing its total orders from this client to over $4.5 million.

 

●

The Company received its first order for the newly designed in-ear headset with an encrypted security system intended for use by law enforcement.

 

●

In March 2024, the Company launched a new system for law enforcement, compatible with commonly used terrestrial trunked radio and P25 systems.

 

Use of Non-IFRS Financial Results

 

In addition to disclosing financial results calculated in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board, this press release contains certain financial measures that are not prepared under IFRS. These measures may be different from non-IFRS financial measures used by other companies. The Company defines non-IFRS operating profit (loss) as operating profit (loss) excluding the effect of share-based compensation expenses. The Company defines non-IFRS net income as net income (loss) excluding the effect of share-based compensation expenses and listing expenses. The Company’s management believes the non-IFRS financial information provided in this press release is useful to investors’ understanding and assessment of the Company’s ongoing operations because it provides management and investors with measurements of the Company’s operations and profitability excluding the impact of share-based compensation, an item that the Company does not consider to be indicative of its core operating performance, and listing expenses that are non-recurring and expensed in connection with the Company’s IPO. Management also uses both IFRS and non-IFRS information in evaluating and operating business internally and as such deemed it important to provide all this information to investors. The non-IFRS financial measures disclosed by the Company should not be considered in isolation or as a substitute for, or superior to, financial measures calculated in accordance with IFRS and the financial results calculated in accordance with IFRS and reconciliations to those financial statements should be carefully evaluated. Reconciliations between IFRS measures and non-IFRS measures are provided in Appendix A to this press release.

 

About Silynxcom Ltd.

 

For over a decade, the Company been developing, manufacturing, marketing, and selling ruggedized tactical communication headset devices as well as other communication accessories, all of which have been field-tested and combat-proven. The Company’s in-ear headset devices, or In-Ear Headsets, are used in combat, the battlefield, riot control, demonstrations and weapons training courses. The In-Ear Headsets seamlessly integrate with third party manufacturers of professional-grade ruggedized radios that are used by soldiers in combat or by police officers. The Company’s In-Ear Headsets also fit tightly into the protective gear to enable users to speak and hear clearly and precisely while they are protected from the hazardous sounds of combat, riots or dangerous situations. The sleek, lightweight, In-Ear Headsets include active sound protection to eliminate unsafe sounds, while maintaining ambient environmental awareness, giving their customers 360° situational awareness. The Company works closely with its customers and seek to improve the functionality and quality of the Company’s products based on actual feedback from soldiers and police officers “in the field.” The Company’s headset devices are compatible and easily integrate with various communication equipment devices currently being used by tens of thousands of military and law enforcement personnel in leading military and law enforcement units around the globe. The Company sells its In-Ear Headsets and communication accessories directly to military forces, police and other law enforcement units around the world. The Company also deals with specialized networks of local distributors in each locale in which it operates and has developed key strategic partnerships with radio equipment manufacturers.

 

Forward Looking Statements

 

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws and are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. For example, the Company uses forward-looking statements when it discusses its belief that its revenue increase and cashflow positive status underscores the Company’s successful market expansion and enhanced financial stability. Forward-looking statements are based on Silynxcom’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report for the year ended December 31, 2023, filed with the SEC on April 30, 2024. Forward-looking statements contained in this announcement are made as of the date of this press release and Silynxcom undertakes no duty to update such information except as required under applicable law.

 

Investor Relations Contact:

 

Silynxcom Ltd.

 

ir@silynxcom.com

 

 

Silynxcom Ltd.

 

Consolidated Statements of Financial Position

U.S dollars in thousands

 

		June 30,				December 31,
		2024				2023
Current assets
Cash and cash equivalents			668				568
Marketable securities			2,991				-
Deposits with banking corporations			39				29
Trade receivables, net			2,060				2,452
Other current assets			347				430
Inventory			2,577				2,482
			8,682				5,961
Non-current assets
Property, plant & equipment, net			114				94
Long-term deposits			66				16
Right of use assets			64				95
			244				205
Total assets			8,926				6,166
Current liabilities
Current maturities of loans from banking corporations			60				73
Lease liabilities – current			49				60
Loans from related parties			11				43
Trade payable			947				1,315
Warrants at fair value			-				165
SAFE			-				409
Other accounts payables			1,053				1,791
			2,120				3,856
Non-current liabilities
Loans from banking corporations			-				26
Commitment to issue shares			148				-
Lease liabilities			13				33
Liabilities for employee benefits, net			29				30
			190				89
Shareholders’ equity
Share capital			-				52
Premium and other capital reserves			26,043				20,900
Capital reserve for transactions with controlling shareholders			1,542				1,542
Accumulated loss			(20,969	)			(20,273	)
			6,616				2,221
Total liabilities and shareholders’ equity			8,926				6,166

 

 

Silynxcom Ltd.

 

Consolidated Statements of Comprehensive Loss

U.S dollars in thousands

 

		For the six month period ended June 30
		2024				2023
Revenue			5,356				3,096
Cost of revenue			2,706				1,901
Gross profit			2,650				1,195
Research and development expenses			259				569
Selling and marketing expenses			699				1,989
General and administrative expenses			1,425				965
Operating profit (loss)			267				(2,328	)
Listing expenses			879				-
Finance expenses			232				35
Finance income			148				37
Income (loss) before income tax			(696	)			(2,326	)
Income tax expenses			-				-
Net income (loss)			(696	)			(2,326	)

 

 

Silynxcom Ltd.

 

Consolidated Statements of Cash Flows

U.S dollars in thousands

 

		For the six month period ended June 30
		2024				2023
Cash flows from operating activities
Net income (loss)			(696	)			(2,326	)
Adjustments Required to Present Cash Flows from Operating Activities
Income and expenses not involving cash flows
Depreciation and amortization			54				67
Increase (decrease) in liability for employee benefits, net			(1	)			(1	)
Revaluation of derivatives measured at fair value through profit and loss			-				(31	)
Other finance expenses			20				11
Share-based compensation			428				2,804
			501				2,850
Changes in asset and liability line items:
Decrease (increase) in trade receivable			392				1,993
Decrease (increase) in other current assets			114				(227	)
Decrease (increase) in inventory			(95	)			(231	)
Increase (decrease) in trade payables			(368	)			(1,021	)
Increase (decrease) in other accounts payables			(488	)			(635	)
			(445	)			(121	)
Net cash provided by (used in) operating activities			(640	)			403
Cash flows from investing activities
Increase in long-term bank deposit			(10	)			(11	)
Increase in long-term deposit others			(50	)			-
Purchase of marketable securities, net			(2,961	)			-
Purchase of property, plant and equipment			(42	)			(4	)
Net cash used in investing activities			(3,063	)			(15	)
Cash flows from financing activities
Repayment of loans from related parties			(32	)			(17	)
Repayment of warrants			(165	)			-
Repayment of loans from banking corporations			(39	)			(40	)
Repayment to former share holders			(250	)			-
Issuance of Ordinary Shares in the IPO, net			4,324				-
Repayment of lease liabilities			(33	)			(44	)
Net cash provided by (used in) financing activities			3,805				(101	)
Exchange rate differentials for cash and cash equivalent balances			(2	)			(5	)
Increase (decrease) in cash and cash equivalents			100				282
Balance of cash and cash equivalents at beginning of year			568				69
Balance of cash and cash equivalents as at end of year			668				351

 

 

Appendix A

 

RECONCILIATION OF IFRS TO NON-IFRS MEASURES

(Unaudited) U.S. dollars in thousands

 

		For the six month period ended June 30
		2024				2023
IFRS Operating profit (loss)			267				(2,328	)
Share-based compensation in Selling and marketing expenses			142				1,623
Share-based compensation in General and administrative expenses			138				546
Share-based compensation in Research and development expenses			84				355
Share-based compensation in Cost of revenue			64				280
Non-IFRS Operating profit			695				476
IFRS Net income (loss)			(696	)			(2,326	)
Listing expenses			879				-
Share-based compensation expenses			428				2,804
Non-IFRS Net income			611				478

 

 

6

 

v3.24.3

Document And Entity Information	6 Months Ended
	Jun. 30, 2024
Document Information Line Items
Entity Registrant Name	Silynxcom Ltd.
Document Type	6-K
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001976443
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity File Number	001-41916

v3.24.3

Unaudited Interim Condensed Consolidated Statements of Financial Position - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 668	$ 568
Marketable securities	2,991
Deposits with banking corporations	39	29
Trade receivables, net	2,060	2,452
Other current assets	347	430
Inventory	2,577	2,482
Total current assets	8,682	5,961
Property, plant & equipment, net	114	94
Loans from banking corporations		26
Long-term deposits	66	16
Commitment to issue shares	148
Right of use assets	64	95
Lease liabilities	13	33
Liabilities for employee benefits, net	29	30
Total non-current assets	244	205
TOTAL ASSETS	8,926	6,166
CURRENT LIABILITIES:
Current maturities of loans from banking corporations	60	73
Lease liabilities – current	49	60
Loans from related parties	11	43
Trade payables	947	1,315
Warrants at fair value		165
SAFE		409
Other accounts payables	1,053	1,791
Total current liabilities	2,120	3,856
NON-CURRENT LIABILITIES:
Property, plant & equipment, net	114	94
Loans from banking corporations		26
Long-term deposits	66	16
Commitment to issue shares	148
Right of use assets	64	95
Lease liabilities	13	33
Liabilities for employee benefits, net	29	30
Total non-current liabilities	190	89
SHAREHOLDERS’ EQUITY:
Share capital		52
Premium and other capital reserves	26,043	20,900
Capital reserve for transactions with controlling shareholders	1,542	1,542
Accumulated loss	(20,969)	(20,273)
Total shareholders’ equity	6,616	2,221
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 8,926	$ 6,166

v3.24.3

Unaudited Interim Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024		Jun. 30, 2023
Consolidated Statements of Comprehensive Income Loss [Abstract]
Revenue	$ 5,356		$ 3,096
Cost of Revenue	2,706		1,901
Gross profit	2,650		1,195
Research and development expenses	259		569
Selling and marketing expenses	699		1,989
General and administrative expenses	1,425		965
Operating Profit (Loss)	267		(2,328)
Listing expenses	879
Finance Expenses	232		35
Finance Income	148		37
Loss before income taxes	(696)		(2,326)
Income taxes expenses
Net Loss for the period	(696)		(2,326)
Amounts that shall not be subsequently reclassified to profit and loss:
Loss from remeasurement of defined benefit plans
Total comprehensive loss for the period	$ (696)		$ (2,326)
Basic loss per share (in Dollars per share)	$ (0.1358)		$ (0.7355)
Weighted average of the number of ordinary shares used to calculate basic loss per share (in Shares)	5,123,789	[1]	3,161,779	[2]
Diluted loss per share (in Dollars per share)	$ (0.1358)		$ (0.7355)
Weighted average of the number of ordinary shares used to calculate diluted loss per share (in Shares)	5,123,789	[1]	3,161,779	[2]
[1] Number of shares restated based on the reverse stock split that was effectuated in 2023. [2] Number of shares restated based on the reverse stock split that was effectuated in 2023.

v3.24.3

Unaudited Interim Condensed Consolidated Statements of Changes in Shareholders’ Equity - USD ($) $ in Thousands	Premium and other capital reserves	Capital reserve for transactions with controlling Shareholders	Accumulated loss	Share capital	Total
Balance at Dec. 31, 2022	$ 16,658	$ 1,542	$ (17,454)	$ 52	$ 798
Share-based compensation	2,804				2,804
Total comprehensive loss			(2,326)		(2,326)
Balance at Jun. 30, 2023	19,462	1,542	(19,780)	$ 52	1,276
Balance at Dec. 31, 2023	20,952	1,542	(20,273)		2,221
Issuance of common stock in the IPO, net of underwriting Commission and offering costs	4,254				4,254
Share-based compensation	428				428
SAFE conversion	409				409
Total comprehensive loss			(696)		(696)
Balance at Jun. 30, 2024	$ 26,043	$ 1,542	$ (20,969)		$ 6,616

v3.24.3

Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net Loss	$ (696)	$ (2,326)
Adjustments Required to Present Cash Flows from Operating Activities:
Depreciation and amortization	54	67
Increase (decrease) in liability for employee benefits, net	(1)	(1)
Revaluation of derivatives measured at fair value through profit and loss		(31)
Other finance expenses, net	20	11
Share-based compensation	428	2,804
Total income and expenses not involving cash flows	501	2,850
Changes in asset and liability line items:
Decrease (increase) in trade receivables	392	1,993
Decrease (increase) in other current assets	114	(227)
Decrease (increase) in inventory	(95)	(231)
Increase (Decrease) in trade payables	(368)	(1,021)
Increase (Decrease) in other accounts payables	(488)	(635)
Total changes in asset and liability	(445)	(121)
Net cash provided by (used in) operating activities	(640)	403
Cash flow from investing activities
Increase in long-term bank deposit	(10)	(11)
Increase in long-term deposit others	(50)
Purchase of marketable securities, net	(2,961)
Purchase of property, plant and equipment	(42)	(4)
Net cash used in investing activities	(3,063)	(15)
Cash flows from financing activities
Repayment of loans from related parties	(32)	(17)
Repayment of warrants to Bank Mizrahi	(165)
Repayment of loans from banking corporations	(39)	(40)
Repayment to former shareholders	(250)
Issuance of Ordinary Shares in the IPO, net	4,324
Repayment of lease liabilities	(33)	(44)
Net cash provided by (used in) financing activities	3,805	(101)
Exchange rate differentials for cash and cash equivalent balances	(2)	(5)
Increase in cash and cash equivalents	100	282
Cash and cash equivalents balance at the beginning of the year	568	69
Cash and cash equivalents balance at the end of the year	668	351
Interest paid	3	6
Recognition of right-of-use asset against a lease liability		39
SAFE conversion	$ 456

v3.24.3

General	6 Months Ended
	Jun. 30, 2024
General [Abstract]
GENERAL	NOTE 1 – GENERAL   A. Silynxcom Ltd. (“Silynxcom” or - the “Company”) was incorporated in Israel on August 22, 2021, as a privately held company as part of a restructuring carried out by the Company as set out in subsection B below. The Company’s registered offices are located at 7 Giborei Israel, Netanya, Israel.   The Company is engaged through Silynx Communications Inc. (hereinafter - “Silynx”) and Source of Sound Ltd. (hereinafter - “SOS”) in a single area of activity: the development, production, marketing and sale of ruggedized noise protection and communication accessories for tactical uses, including radios used by security forces, law enforcement, and rescue forces.   B. Silynx Communications, Inc. (hereinafter: the “Former Company” or “Silynx”) was incorporated in Delaware, USA on September 19, 2005, and commenced operations in October 2005.   On August 26, 2021, the Board of Directors of the Former Company decided to make a structural change (hereinafter the “Reorganization”). Pursuant to the Reorganization, Silynxcom was incorporated on August 22, 2021, as a private limited company, in accordance with the provisions of the Israeli Companies Law while maintaining the same capital structure as the Former Company. On August 26, 2021, the Former Company transferred to the Company all its holdings directly and indirectly into the subsidiary. The Reorganization was completed on March 15, 2022, after receiving an approval from the Israeli tax authorities.   The Company accounted for the Reorganization using the pooling of interest method, and the consolidation of the financial statements reflects the Reorganization using the “as pooling” method accordingly.   C. Liquidity   The Company has a current loss of $696 and an accumulated loss of $20,969. On January 17, 2024, the Company completed its initial public offering (see note 3a). Accordingly, the Company’s management believes that the resources at its disposal are sufficient for the foreseeable future.   The Unaudited Interim Condensed Consolidated Financial Statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.   D. The effect of the 2023-2024 Israel wars   The Company is incorporated under the laws of the State of Israel, and the company’s principal offices are located in Israel. Accordingly, political, economic, and geo-political instability in Israel may affect the Company’s business. Any armed conflicts, political instability, terrorism, cyberattacks or any other hostilities involving Israel or the interruption or curtailment of trade between Israel and its present trading partners could affect adversely the Company’s operations. Ongoing and revived hostilities in the Middle East or other Israeli political or economic factors, could harm the Company’s operations and solution development and cause any future sales to decrease.   On October 7, 2023, Hamas terrorists infiltrated Israel’s southern border from the Gaza Strip and conducted a series of attacks on civilian and military targets which resulted in extensive deaths, injuries and kidnapping of civilians and soldiers, following which Israel’s security cabinet declared war against Hamas. Since October 7, 2023, Israel has also been militarily engaged with Hezbollah on the border between Lebanon and northern Israel, the Houthi movement based in Yemen and with the Islamic Republic of Iran. The intensity and duration of Israel’s current war is difficult to predict, as are such war’s implications on the Company’s business and operations.   While none or some of the Company’s supply chains have been impacted since the war broke out on October 7, 2023, the ongoing war may create supply and demand irregularities in Israel’s economy in general or lead to macroeconomic indications of a deterioration of Israel’s economic standing, which may have a material adverse effect on us and the Company’s ability to effectively conduct the Company’s operations.   In connection with the regional hostilities, Israeli military reservists have been drafted to perform military service. One of the Company’s employees has been called up to reserve duty as of the date of these Consolidated Financial Statements, there can be no assurance that at least he or another of the Company’s employees will not be called on to military service again. In addition, the Company relies on service providers located in Israel and the Company’s employees or employees of such service providers may be called for service in the current or future wars or other armed conflicts with Hamas and such persons may be absent from their positions for a period of time. As of the date of these Consolidated Financial Statements, any impact as a result of the number of absences of the Company’s personnel and personnel at its service providers or counterparties located in Israel has been manageable.   However, military service call-ups that result in absences of personnel from its service providers or contractual counterparties in Israel may disrupt its operations and absences for an extended period of time may materially and adversely affect its business, prospects, financial condition and results of operations.   Any hostilities involving Israel or the interruption or curtailment of trade between Israel and its trading partners could adversely affect its operations and results of operations. The Company’s commercial insurance does not cover losses that may occur as a result of events associated with war and terrorism. Although the Israeli government currently covers the reinstatement value of direct damages that caused by terrorist attacks or acts of war, the Company cannot guarantee that this government coverage will be maintained or that it will sufficiently cover its potential damages. Any losses or damages incurred by us could have a material adverse effect on its business. Any armed conflicts or political instability in the region would likely negatively affect business conditions and could harm its results of operations.   Since October 7, 2023 the Company has experienced a significant increase in demand for its products from the Israel Defense Forces.

v3.24.3

Material Accounting Policies	6 Months Ended
	Jun. 30, 2024
Material Accounting Policies [Abstract]
MATERIAL ACCOUNTING POLICIES	NOTE 2 – MATERIAL ACCOUNTING POLICIES:   1. Significant accounting policy   Statement of compliance   These interim condensed consolidated financial statements have been prepared in accordance with International Accounting Standards (“IAS”) 34 Interim Financial Reporting. They do not include all disclosures that would otherwise be required in a complete set of financial statements and should be read in conjunction with the 2023 annual consolidated financial statements (the “2023 Financial Statements”). The Company has applied the same accounting policies and methods of computation in its interim consolidated financial statements as in its 2023 Financial Statements.   Basis of measurement   These Unaudited Interim Condensed Consolidated Financial Statements have been prepared on a going concern basis, under the historical cost basis, except for financial instruments which have been measured at fair value.   Transaction costs of equity transactions   Transaction costs of an equity transaction are accounted for as a deduction from equity, but only to the extent they are incremental costs directly attributable to the equity transaction that otherwise would have been avoided. The costs of an equity transaction that is abandoned are recognized as an expense. In an IPO wherein a company simultaneously lists its existing equity and additional newly issued equity, the total non-direct costs of the IPO are allocated between the newly issued shares and the existing shares on a rational basis, with only the proportion relating to the issue of new shares being deducted from equity.   2. Critical Estimates and Assumptions   The preparation of the Company’s financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expenses during the reporting period. Actual outcomes could differ from these estimates. The Company’s financial statements include estimates which, in their nature, are uncertain. The impact of such estimates is pervasive throughout the Company’s financial statements and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the period in which the estimate is revised and in future periods when the revision affects both current and future periods.   The functional currency for each subsidiary of the Company is the currency of the primary economic environment in which the respective entity operates The Company has determined the functional currency of each entity to be denominated in the U.S. dollar. Such determination involves certain judgements to identify the primary economic environment. The Company shall reconsider the functional currency of its subsidiaries if there is a change in events and/or conditions which determine the primary economic environment. During the six months ended June 30, 2024, there have been no such changes.   The critical judgments and significant estimates in applying accounting policies that have the most significant effect on the amounts recognized in the Unaudited Interim Condensed Consolidated Financial Statements are the same as of December 31, 2023:   Determining the fair value of share-based payment transactions   The fair value of share-based payment transactions is determined upon initial recognition by the binomial options-pricing model. The binomial options-pricing model is based on the share price, exercise price and assumptions regarding expected volatility, the term of share option, dividend yield and a risk-free interest rate.   a) Derivative liability – Warrants and SAFE   The Company uses the Black-Scholes option-pricing model to estimate fair value at each reporting date. The key assumptions used in the model are the expected future volatility in the price of the Company’s Ordinary Shares and the expected life of the warrants and SAFE (as defined elsewhere in these financial statements), as long as there is no quoted price.   3. Changes in accounting policies   A number of amended standards became applicable for the current reporting period. The Company did not have to change its accounting policies or make retrospective adjustments as a result of adopting these amended standards:   New IFRSs adopted in the period   The following amendments are effective for the period beginning January 1, 2024:   a. Supplier Finance Arrangements (Amendments to IAS 7 & IFRS 7); These amendments have no effect on the measurement or presentation of any items in the Interim Condensed Consolidated Financial Statements of the Company but affect the disclosure of accounting policies of the Company.   b. Lease Liability in a Sale and Leaseback (Amendments to IFRS 16); These amendments had no material effect on the Interim Condensed Consolidated Financial Statements of the Company.   c. Classification of Liabilities as Current or Non-Current (Amendments to IAS 1); These amendments had no material effect on the Interim Condensed Consolidated Financial Statements of the Company.   d. Non-current Liabilities with Covenants (Amendments to IAS 1). These amendments had no material effect on the Interim Condensed Consolidated Financial Statements of the Company.   New standards, interpretations and amendments not yet effective:   On April 9, 2024, the International Accounting Standards Board published IFRS 18, “Presentation and Disclosure in Financial Statements,” which replaces IAS 1, “Presentation of Financial Statements” and is mandatorily effective for annual reporting periods beginning on or after January 1, 2027; the main changes are as follows:   Mandatory sub totals to be presented in the statement of profit and loss.   Aggregation and disaggregation of information including the introduction of overall principles for how information should be aggregated and disaggregated in financial statements.

v3.24.3

Significant Events and Transactions in the Period	6 Months Ended
	Jun. 30, 2024
Significant Events and Transactions in the Period [Abstract]
SIGNIFICANT EVENTS AND TRANSACTIONS IN THE PERIOD	NOTE 3 – SIGNIFICANT EVENTS AND TRANSACTIONS IN THE PERIOD:   Disclosures related to management defined performance measures.   The Company is currently assessing the impact of IFRS 18 on the financial statements, but at this stage it is unable to estimate such an impact. The effect of the new standard, however it may be, will only affect matters of presentation and disclosure.   a. On January 17, 2024, the Company closed its IPO of 1,250,000 Ordinary shares at a public offering price of $4.00 per share, for gross proceeds of $5,000 before deducting underwriting discounts and before deducting the equity transaction costs. Direct equity transaction costs in cash of $-575 were deducted from the capital. Direct non–cash equity transaction costs of $-2,839 were deducted from the capital. Indirect equity transaction costs in cash were $-1,154, of which $-275 were deducted from the capital and $-879 were recorded as listing expenses in profit and loss according to the ratio of the new shares and the shares of the existing shareholders. As part of the Company’s IPO, warrants were settled in cash in the amount of $165, and, in addition, the simple agreements for future equity (“SAFE”) were revalued upon the closing of the Company’s IPO and partly converted into Ordinary Shares. Subsequent to the latest balance sheet date in these consolidated financial statements, the Company issued the remaining shares (See note 8).   b. On January 5, 2024, we and our Vice President of Marketing and International Sales Officer, Mr. Elihay Cohen, were served with a lawsuit submitted to the Central Region District Court in Israel on December 28, 2023 by Misi Tech Israel Ltd., a private Israeli company, and two other individual parties (collectively, the “Plaintiffs”), seeking the grant of an injunction against use of certain intellectual property, declaratory judgment that said intellectual property is the property of the Plaintiffs, and monetary damages in the aggregate amount of NIS 2,633,238 ($711), as well as attorneys’ fees. This claim is primarily based on (i) an alleged phone call between Mr. Cohen and one of the Plaintiffs, sometime in 2017, where the Plaintiffs allege that Mr. Cohen said he was working for the Company, and (ii) an undisclosed “recent” knowledge of the Plaintiffs confirming this to be true, which the Company believes is frivolous and without merit.

v3.24.3

Fair Value Measurement	6 Months Ended
	Jun. 30, 2024
Fair Value Measurement [Abstract]
FAIR VALUE MEASUREMENT	NOTE 4 – FAIR VALUE MEASUREMENT:   The following table sets out the Company’s liabilities that are measured at fair value in the financial statements:       Fair value measurements using input type       June 30, 2024 (Unaudited)       Level 1     Level 2     Level 3     Total                                     Marketable securities     2,991           -            -       2,991     As part of the IPO, the SAFE was revaluated according to the quoted price in the prospectus of the IPO and the warrants were revaluated according to the amount agreed upon with Bank Mizrahi that the warrant will be settled.       Fair value measurements using input type       December 31, 2023       Level 1     Level 2     Level 3     Total   SAFE                                (409 )     (409 ) Warrants at fair value     -       -       (165 )     (165 )   As of December 31, 2023, the Company estimated the value of the warrants with the assistance of an independent external appraiser at $165, in accordance with the following parameters and using the Black-Scholes options-pricing model:       December 31,       2023           Silynxcom share price (USD)     0.04   Exercise price (in USD)     0.159   Expected volatility in Silynxcom’s share price     41 % Expected life of the warrants (in years)     0.01   Risk-free interest     5.24 % Expected dividend yield     -     As of December 31, 2023, the Company estimated the value of the SAFE with the assistance of an independent external appraiser at $409.   The following tables describes the change in the Company’s liabilities that are measured at level 3 in the financial statements:       SAFE + Warrants   As of December 31, 2022     (522 ) Change in fair value     31   Balance as of June 30, 2023     (491 )           Balance as of December 31, 2023     (574 ) Change in fair value     (47 ) SAFE exercised     456   Warrant exercised     165   Balance as of June 30, 2024     -

v3.24.3

Revenue	6 Months Ended
	Jun. 30, 2024
Revenue [Abstract]
REVENUE	NOTE 5 – REVENUE:       For six months ended June 30,       2024     2023   Breakdown of revenue by geography                 Israel     3,613       1,260   Europe     242       78   Asia     943       1,015   USA     558       623   Other     -       120         5,356       3,096                     Revenue by product group:                 In-Ear Headset systems     3,389       2,143   SST Headset systems     1,655       678   Other     312       275         5,356       3,096     The Company operates in one operation segment. The Company’s chief operating decision-maker (the chief executive officer of the Company) evaluates performance, makes operating decisions and allocates resources based on financial data, consistent with the presentation in the accompanying financial statements. The chief operating decision-maker oversees revenue, gross profit and operating income.

v3.24.3

Related Parties	6 Months Ended
	Jun. 30, 2024
Related Parties [Abstract]
RELATED PARTIES	NOTE 6 – RELATED PARTIES:   A. Balances with related parties       June 30,     December 31,       2024     2023   Accounts payable and accruals (included in employees and liabilities in respect thereof)     43       128   Loans from related parties     11       43     B. Benefits to related parties       For the six months ended June 30,       2024     2023   Payroll and related expenses in respect of employed related parties (*)     275       149   Number of related parties     3       3     C. Benefits to senior officers       For the six months ended June 30,       2024     2023   Short-term benefits (*)     351       219   No. of recipients     3       3     D. Profit and loss data (*)       For the six months ended June 30,       2024     2023                 Cost of revenue     87       28                     Research and development expenses     29       69                     Selling and marketing expenses     207       158                     General and administrative expenses     302       116     (*) Including benefits to interested parties, related parties and officers, included in subsections b and c above.

v3.24.3

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2024
Earnings (Loss) Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	NOTE 7 – EARNINGS (LOSS) PER SHARE:       For the six months ended June 30,       2024     2023   Weighted average of the number of ordinary shares used to calculate basic earnings per share (**)     5,124       3,162                     Weighted average of the number of ordinary shares used to calculate diluted earnings per share (**)     5,124       3,162                     The loss used in calculation     696       2,326     (**) Number of shares restated based on the reverse stock split that was effectuated in 2023.

v3.24.3

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS:   On July 11, 2024, in connection with the IPO, the Company issued an aggregate of 36,982 Ordinary Shares as part of the SAFE conversion and investment agreement.

v3.24.3

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Significant accounting policy	1. Significant accounting policy Statement of compliance These interim condensed consolidated financial statements have been prepared in accordance with International Accounting Standards (“IAS”) 34 Interim Financial Reporting. They do not include all disclosures that would otherwise be required in a complete set of financial statements and should be read in conjunction with the 2023 annual consolidated financial statements (the “2023 Financial Statements”). The Company has applied the same accounting policies and methods of computation in its interim consolidated financial statements as in its 2023 Financial Statements. Basis of measurement These Unaudited Interim Condensed Consolidated Financial Statements have been prepared on a going concern basis, under the historical cost basis, except for financial instruments which have been measured at fair value. Transaction costs of equity transactions Transaction costs of an equity transaction are accounted for as a deduction from equity, but only to the extent they are incremental costs directly attributable to the equity transaction that otherwise would have been avoided. The costs of an equity transaction that is abandoned are recognized as an expense. In an IPO wherein a company simultaneously lists its existing equity and additional newly issued equity, the total non-direct costs of the IPO are allocated between the newly issued shares and the existing shares on a rational basis, with only the proportion relating to the issue of new shares being deducted from equity.
Critical Estimates and Assumptions	2. Critical Estimates and Assumptions The preparation of the Company’s financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expenses during the reporting period. Actual outcomes could differ from these estimates. The Company’s financial statements include estimates which, in their nature, are uncertain. The impact of such estimates is pervasive throughout the Company’s financial statements and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the period in which the estimate is revised and in future periods when the revision affects both current and future periods. The functional currency for each subsidiary of the Company is the currency of the primary economic environment in which the respective entity operates The Company has determined the functional currency of each entity to be denominated in the U.S. dollar. Such determination involves certain judgements to identify the primary economic environment. The Company shall reconsider the functional currency of its subsidiaries if there is a change in events and/or conditions which determine the primary economic environment. During the six months ended June 30, 2024, there have been no such changes.   The critical judgments and significant estimates in applying accounting policies that have the most significant effect on the amounts recognized in the Unaudited Interim Condensed Consolidated Financial Statements are the same as of December 31, 2023: Determining the fair value of share-based payment transactions The fair value of share-based payment transactions is determined upon initial recognition by the binomial options-pricing model. The binomial options-pricing model is based on the share price, exercise price and assumptions regarding expected volatility, the term of share option, dividend yield and a risk-free interest rate. a) Derivative liability – Warrants and SAFE The Company uses the Black-Scholes option-pricing model to estimate fair value at each reporting date. The key assumptions used in the model are the expected future volatility in the price of the Company’s Ordinary Shares and the expected life of the warrants and SAFE (as defined elsewhere in these financial statements), as long as there is no quoted price.
Changes in accounting policies	3. Changes in accounting policies A number of amended standards became applicable for the current reporting period. The Company did not have to change its accounting policies or make retrospective adjustments as a result of adopting these amended standards: New IFRSs adopted in the period The following amendments are effective for the period beginning January 1, 2024: a. Supplier Finance Arrangements (Amendments to IAS 7 & IFRS 7); These amendments have no effect on the measurement or presentation of any items in the Interim Condensed Consolidated Financial Statements of the Company but affect the disclosure of accounting policies of the Company.   b. Lease Liability in a Sale and Leaseback (Amendments to IFRS 16); These amendments had no material effect on the Interim Condensed Consolidated Financial Statements of the Company. c. Classification of Liabilities as Current or Non-Current (Amendments to IAS 1); These amendments had no material effect on the Interim Condensed Consolidated Financial Statements of the Company. d. Non-current Liabilities with Covenants (Amendments to IAS 1). These amendments had no material effect on the Interim Condensed Consolidated Financial Statements of the Company. New standards, interpretations and amendments not yet effective: On April 9, 2024, the International Accounting Standards Board published IFRS 18, “Presentation and Disclosure in Financial Statements,” which replaces IAS 1, “Presentation of Financial Statements” and is mandatorily effective for annual reporting periods beginning on or after January 1, 2027; the main changes are as follows: Mandatory sub totals to be presented in the statement of profit and loss. Aggregation and disaggregation of information including the introduction of overall principles for how information should be aggregated and disaggregated in financial statements.

v3.24.3

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Measurement [Abstract]
Schedule of Liabilities that are Measured at Fair Value in the Financial Statements	The following table sets out the Company’s liabilities that are measured at fair value in the financial statements:     Fair value measurements using input type       June 30, 2024 (Unaudited)       Level 1     Level 2     Level 3     Total                                     Marketable securities     2,991           -            -       2,991
Schedule of IPO and the Warrants were Revaluated According to the Amount Agreed Upon With Bank Mizrahi that the Warrant Will be Settled	As part of the IPO, the SAFE was revaluated according to the quoted price in the prospectus of the IPO and the warrants were revaluated according to the amount agreed upon with Bank Mizrahi that the warrant will be settled.     Fair value measurements using input type       December 31, 2023       Level 1     Level 2     Level 3     Total   SAFE                                (409 )     (409 ) Warrants at fair value     -       -       (165 )     (165 )
Schedule of Parameters and Using the Black-Scholes Options-Pricing Model	As of December 31, 2023, the Company estimated the value of the warrants with the assistance of an independent external appraiser at $165, in accordance with the following parameters and using the Black-Scholes options-pricing model:     December 31,       2023           Silynxcom share price (USD)     0.04   Exercise price (in USD)     0.159   Expected volatility in Silynxcom’s share price     41 % Expected life of the warrants (in years)     0.01   Risk-free interest     5.24 % Expected dividend yield     -
Schedule of Liabilities that are Measured at Level 3 in the Financial Statements	The following tables describes the change in the Company’s liabilities that are measured at level 3 in the financial statements:     SAFE + Warrants   As of December 31, 2022     (522 ) Change in fair value     31   Balance as of June 30, 2023     (491 )           Balance as of December 31, 2023     (574 ) Change in fair value     (47 ) SAFE exercised     456   Warrant exercised     165   Balance as of June 30, 2024     -

v3.24.3

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue [Abstract]
Schedule of Revenue	For six months ended June 30,       2024     2023   Breakdown of revenue by geography                 Israel     3,613       1,260   Europe     242       78   Asia     943       1,015   USA     558       623   Other     -       120         5,356       3,096                     Revenue by product group:                 In-Ear Headset systems     3,389       2,143   SST Headset systems     1,655       678   Other     312       275         5,356       3,096

v3.24.3

Related Parties (Tables)	6 Months Ended
	Jun. 30, 2024
Related Parties [Abstract]
Schedule of Balances with Related Parties	Balances with related parties     June 30,     December 31,       2024     2023   Accounts payable and accruals (included in employees and liabilities in respect thereof)     43       128   Loans from related parties     11       43
Schedule of Benefits to Related Parties	Benefits to related parties     For the six months ended June 30,       2024     2023   Payroll and related expenses in respect of employed related parties (*)     275       149   Number of related parties     3       3   (*) Including benefits to interested parties, related parties and officers, included in subsections b and c above.
Schedule of Benefits to Senior Officers	Benefits to senior officers     For the six months ended June 30,       2024     2023   Short-term benefits (*)     351       219   No. of recipients     3       3     (*) Including benefits to interested parties, related parties and officers, included in subsections b and c above.
Schedule of Profit and Loss Data	Profit and loss data     For the six months ended June 30,       2024     2023                 Cost of revenue     87       28                     Research and development expenses     29       69                     Selling and marketing expenses     207       158                     General and administrative expenses     302       116   (*) Including benefits to interested parties, related parties and officers, included in subsections b and c above.

v3.24.3

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings (Loss) Per Share [Abstract]
Schedule of Earnings (Loss) Per Share	For the six months ended June 30,       2024     2023   Weighted average of the number of ordinary shares used to calculate basic earnings per share (**)     5,124       3,162                     Weighted average of the number of ordinary shares used to calculate diluted earnings per share (**)     5,124       3,162                     The loss used in calculation     696       2,326   (**) Number of shares restated based on the reverse stock split that was effectuated in 2023.

v3.24.3

General (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
General [Abstract]
Current loss	$ (696)	$ (2,326)
Accumulated loss	$ (20,969)		$ (20,273)

v3.24.3

Significant Events and Transactions in the Period (Details) $ / shares in Units, ₪ in Thousands				6 Months Ended
	Jan. 17, 2024 USD ($) $ / shares shares	Jan. 05, 2024 USD ($)	Jan. 05, 2024 ILS (₪)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Significant Events and Transactions in the Period (Details) [Line Items]
Non cash equity transaction costs	$ (2,839,000)
Listing expenses	$ 879,000			$ 879,000
Warrants settled in cash						$ 165,000
Aggregate amount		$ (711,000)	₪ 2,633,238
Initial Public Offering [Member]
Significant Events and Transactions in the Period (Details) [Line Items]
Ordinary shares (in Shares) | shares	1,250,000
Offering price per share (in Dollars per share) | $ / shares	$ 4
Gross proceeds	$ 5,000
Warrants settled in cash	165,000
Direct Equity Transaction [Member]
Significant Events and Transactions in the Period (Details) [Line Items]
Equity transaction costs	575,000
Indirect Equity Transaction [Member]
Significant Events and Transactions in the Period (Details) [Line Items]
Equity transaction costs	1,154,000
Capital deduction	$ (275,000)

v3.24.3

Fair Value Measurement (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Warrant [Member]
Fair Value Measurement (Details) [Line Items]
External appraiser	$ 165
SAFE [Member]
Fair Value Measurement (Details) [Line Items]
External appraiser	$ 409

v3.24.3

Fair Value Measurement (Details) - Schedule of Liabilities that are Measured at Fair Value in the Financial Statements $ in Thousands	Jun. 30, 2024 USD ($)
Schedule of Liabilities that are Measured at Fair Value in the Financial Statements [Line Items]
Marketable securities	$ 2,991
Level 1 [Member]
Schedule of Liabilities that are Measured at Fair Value in the Financial Statements [Line Items]
Marketable securities	2,991
Level 2 [Member]
Schedule of Liabilities that are Measured at Fair Value in the Financial Statements [Line Items]
Marketable securities
Level 3 [Member]
Schedule of Liabilities that are Measured at Fair Value in the Financial Statements [Line Items]
Marketable securities

v3.24.3

Fair Value Measurement (Details) - Schedule of IPO and the Warrants were Revaluated According to the Amount Agreed Upon With Bank Mizrahi that the Warrant Will be Settled - Bank Mizrahi [Member] $ in Thousands	Jun. 30, 2024 USD ($)
SAFE [Member]
Fair Value Measurement (Details) - Schedule of IPO and the Warrants were Revaluated According to the Amount Agreed Upon With Bank Mizrahi that the Warrant Will be Settled [Line Items]
Fair value	$ (409)
SAFE [Member] | Level 3 [Member]
Fair Value Measurement (Details) - Schedule of IPO and the Warrants were Revaluated According to the Amount Agreed Upon With Bank Mizrahi that the Warrant Will be Settled [Line Items]
Fair value	(409)
Warrants [Member]
Fair Value Measurement (Details) - Schedule of IPO and the Warrants were Revaluated According to the Amount Agreed Upon With Bank Mizrahi that the Warrant Will be Settled [Line Items]
Fair value	(165)
Warrants [Member] | Level 3 [Member]
Fair Value Measurement (Details) - Schedule of IPO and the Warrants were Revaluated According to the Amount Agreed Upon With Bank Mizrahi that the Warrant Will be Settled [Line Items]
Fair value	(165)
Warrants [Member] | Level 1 [Member]
Fair Value Measurement (Details) - Schedule of IPO and the Warrants were Revaluated According to the Amount Agreed Upon With Bank Mizrahi that the Warrant Will be Settled [Line Items]
Fair value
Warrants [Member] | Level 2 [Member]
Fair Value Measurement (Details) - Schedule of IPO and the Warrants were Revaluated According to the Amount Agreed Upon With Bank Mizrahi that the Warrant Will be Settled [Line Items]
Fair value

v3.24.3

Fair Value Measurement (Details) - Schedule of Parameters and Using the Black-Scholes Options-Pricing Model	12 Months Ended
	Dec. 31, 2023 $ / shares
Schedule of Parameters and Using the Black Scholes Options Pricing Model [Abstract]
Silynxcom share price (USD) (in Dollars per share)	$ 0.04
Exercise price (in USD) (in Dollars per share)	$ 0.159
Expected volatility in Silynxcom’s share price	41.00%
Expected life of the warrants (in years)	0.01
Risk-free interest	5.24%
Expected dividend yield

v3.24.3

Fair Value Measurement (Details) - Schedule of Liabilities that are Measured at Level 3 in the Financial Statements - Level 3 [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Fair Value Measurement (Details) - Schedule of Liabilities that are Measured at Level 3 in the Financial Statements [Line Items]
Beginning balance	$ (574)	$ (522)
Change in fair value	(47)	31
Ending balance		$ (491)
SAFE [Member]
Fair Value Measurement (Details) - Schedule of Liabilities that are Measured at Level 3 in the Financial Statements [Line Items]
Exercised	456
Warrant [Member]
Fair Value Measurement (Details) - Schedule of Liabilities that are Measured at Level 3 in the Financial Statements [Line Items]
Exercised	$ 165

v3.24.3

Revenue (Details) - Schedule of Revenue - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Breakdown of revenue by geography
Total	$ 5,356	$ 3,096
In-Ear Headset systems [Member]
Breakdown of revenue by geography
Revenue	3,389	2,143
SST Headset systems [Member]
Breakdown of revenue by geography
Revenue	1,655	678
Other [Member]
Breakdown of revenue by geography
Revenue	312	275
Israel [Member]
Breakdown of revenue by geography
Revenue	3,613	1,260
Europe [Member]
Breakdown of revenue by geography
Revenue	242	78
Asia [Member]
Breakdown of revenue by geography
Revenue	943	1,015
USA [Member]
Breakdown of revenue by geography
Revenue	558	623
Other [Member]
Breakdown of revenue by geography
Revenue		$ 120

v3.24.3

Related Parties (Details) - Schedule of Balances with Related Parties - Related Party [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Related Parties (Details) - Schedule of Balances with Related Parties [Line Items]
Accounts payable and accruals (included in employees and liabilities in respect thereof)	$ 43	$ 128
Loans from related parties	$ 11	$ 43

v3.24.3

Related Parties (Details) - Schedule of Benefits to Related Parties - Related Party [Member] $ in Thousands		6 Months Ended
		Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Related Parties (Details) - Schedule of Benefits to Related Parties [Line Items]
Payroll and related expenses in respect of employed related parties	[1]	$ 275	$ 149
Number of related parties		3	3
[1] Including benefits to interested parties, related parties and officers, included in subsections b and c above.

v3.24.3

Related Parties (Details) - Schedule of Benefits to Senior Officers - Related Party [Member] $ in Thousands		6 Months Ended
		Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Related Parties (Details) - Schedule of Benefits to Senior Officers [Line Items]
Short-term benefits	[1]	$ 351	$ 219
No. of recipients		3	3
[1] Including benefits to interested parties, related parties and officers, included in subsections b and c above.

v3.24.3

Related Parties (Details) - Schedule of Profit and Loss Data - Related Parties [Member] - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Schedule of Profit and Loss Data [Line Items]
Cost of revenue	[1]	$ 87	$ 28
Research and development expenses	[1]	29	69
Selling and marketing expenses	[1]	207	158
General and administrative expenses	[1]	$ 302	$ 116
[1] Including benefits to interested parties, related parties and officers, included in subsections b and c above.

v3.24.3

Earnings (Loss) Per Share (Details) - Schedule of Earnings (Loss) Per Share - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024		Jun. 30, 2023
Schedule of Earnings (Loss) Per Share [Abstract]
Weighted average of the number of ordinary shares used to calculate basic earnings per share	5,123,789	[1]	3,161,779	[2]
Weighted average of the number of ordinary shares used to calculate diluted earnings per share	5,123,789	[1]	3,161,779	[2]
The loss used in calculation (in Dollars)	$ 696		$ 2,326
[1] Number of shares restated based on the reverse stock split that was effectuated in 2023. [2] Number of shares restated based on the reverse stock split that was effectuated in 2023.

v3.24.3

Subsequent Events (Details)	Jul. 11, 2024 shares
Ordinary Share [Member] | Subsequent [Member]
Subsequent Events [Line Items]
Ordinary shares issue	36,982

---