The company continues to
advance its technology via R&D breakthroughs and investments in
global marketing infrastructure toward commercialization of
cultivated meat
REHOVOT, Israel, Nov. 23,
2022 /PRNewswire/ -- Steakholder Foods
(Nasdaq: STKH), an international deep-tech food company at the
forefront of the cultured meat industry, today released its
financial results for the third quarter of 2022, ended September 30, 2022, and provided a recent
business update.
Steakholder Foods is developing high quality beef, chicken,
pork, and seafood products that are safer and more sustainable than
conventional meat. Our products under development include whole
cuts, ground meat and raw materials made from cultivated animal
cells rather than farm-raised animals.
Arik Kaufman, Steakholder
Foods Chief Executive Officer & Co-Founder: "We are very
pleased with the progress we have made over the past few months and
are on track with our go-to-market plan. We have significantly
advanced our technology, as demonstrated by our recently granted
patents in key regions, and we continue to cement our position as a
technological leader in the cultivated meat space. This has also
helped us add some key collaborations to our business development
efforts. And finally, our recent rebranding efforts reflect our
vision, direction and differentiators. We are working hard to bring
the revolution to the mass market so that everyone can continue to
enjoy healthy, delicious, real meat but in a more sustainable way
for the planet."
Q3 2022 Financial Results Summary
- Research and development expenses for the three months ended
September 30, 2022 totaled
$2.8 million, compared to
$2.0 million in the same period in
2021. The 38% increase reflects the company's growing investment in
R&D as it continues to expand its cultivated meat technology
capabilities mainly through increased headcount, consumable
materials and raw materials.
- General and administrative expenses for the three months ended
September 30, 2022 totaled
$1.3 million, compared to
$1.8 million in the same period in
2021. The 28% decrease was primarily due to lower insurance and
share-based payment expenses in the current quarter.
- Marketing expenses for the three months ended September 30, 2022 totaled $0.5 million, compared to $0.3 million in the same period in 2021,
reflecting increased salary expenses and growing investment in the
company's US and global marketing activities.
- Operating loss for the three months ended September 30, 2022 totaled $4.6 million, compared to $4.1 million in the same period in 2021. The
increase reflects continued investment in research and development
as well as marketing activities, as indicated above.
- Total comprehensive loss was $3.4
million, or 2 cents per
ordinary share ($0.17 per ADS),
compared to $4.3 million, or
3 cents per ordinary share
($0.32 per ADS), in the same period
in 2021.
- Cash flow used in operating activities totaled $9.8 million in the nine months ended
September 30, 2022, compared to
$9.6 million in the same period in
2021, reflecting a 2% increase. The changes were due mainly to
increased expenditures as indicated above, including expenditures
of the company's subsidiary Peace of Meat, which was first
consolidated as of March 2021, and
were offset by lower general and administrative expenses.
- Cash flow used in investment activities totaled $2.7 million in the nine months ended
September 30, 2022 compared to
$7.4 million in the same period in
2021, reflecting a 63% decrease due mainly to the acquisition of
Peace of Meat during 2021.
- Cash flow from financing activities was $5.3 million in the nine months ended
September 30, 2022 (primarily
resulting from a registered direct offering in Q3 2022) compared to
$29.0 million in the same period in
2021 (during which the company completed its Nasdaq IPO).
- Cash and cash equivalents were $11.2
million as of September 30,
2022 compared to $19.2 million
as of year-end 2021. The decrease was due mainly to funding of the
company's ongoing operations.
- Total capital was $24.4 million
as of September 30, 2022 compared
with $37.6 million at year-end
2021.
Q3 and Beyond: Business Highlights
Collaborations
In July 2022, Steakholder Foods
signed a memorandum of understanding with Umami Meats, a
Singaporean cultured seafood company. This collaboration opens a
door for both companies into the Asian market, and Singapore specifically, which is currently the
only country that has authorized the production and distribution of
cultivated meat. Steakholder Foods also sees this collaboration as
an opportunity to make a valuable contribution to the preservation
of marine ecosystems and wildlife.
R&D
- In July 2022, Peace of Meat, the
company's wholly owned Belgian subsidiary, announced the
establishment of a stable and unique avian cell line with a clear
upscaling path. Peace of Meat's cultivated avian capabilities
provide a clear path to commercialization in the hybrid foods
market.
- In August 2022, the company
announced its initiation of cultivated pork development using a
porcine cell line with significantly greater lifespan and
scalability. The company announced in November 2022 that it successfully differentiated
porcine fat cells from its induced pluripotent stem cell line. This
is a significant step forward in the company's ability to develop
high-quality 3D-printed whole-cut pork products at scale.
- In September 2022, the company
introduced Omakase Beef Morsels, a revolutionary, richly
marbled structured cultivated meat product developed using
Steakholder Foods' unique 3D-printing process. Inspired by the
marbling standard of Wagyu beef, this product was an
innovative culinary achievement, elegantly designed as a
meat-lover's delicacy for premium dining experiences. The product
is made up of multiple layers of muscle and fat tissue that have
been differentiated from bovine stem cells and showcases the
technology's unprecedented control and flexibility.
Patents
- In October 2022, the company
filed a provisional patent application with the U.S. Patent and
Trademark Office (USPTO) regarding methods and systems for
adipocytes differentiation. The patent application details a new
and improved process for differentiating stem cells into fat and is
more easily reproducible and cost-effective than current
methods.
- In October 2022, the company was
granted a patent by the USPTO for systems and methods to apply
external forces to muscle tissue that result in the development of
high-quality complex structured meat. In November 2022, the company was granted the
equivalent patent in Canada. This
patent is another boost to the company's growing global patent
portfolio. The process behind the patent represents a breakthrough
in the methodology and technology used to "exercise" muscle tissue
to achieve a desired texture. It is a mimicking of natural muscle
development that occurs when animals roam or graze.
- In November 2022, the company
filed a provisional patent application for the mimicking of
the texture of cooked fish. The company achieved the unique
flaky texture of fish using its new approach along with its
proprietary 3D printing technology and custom-made bio-inks. The
new methodology is expected to enable the production of a wide
variety of fish, seafood and cuts. The provisional patent
application puts the company on a path toward leadership in the
field of structured cultivated fish production.
Marketing and Branding
- In August 2022, the company
rebranded itself as Steakholder Foods Ltd. and changed its ticker
on the Nasdaq stock market to STKH. The new name and brand reflect
the company's commitment to cultivating a new community of meat
lovers who wish to support and participate in the company's mission
to make high-quality real meat sustainably. Steakholder Foods has
recently received a registered trademark in Japan, reflecting plans to penetrate the
Japanese market and other markets in the Asian region.
- In September and October 2022,
the company participated at the Future Food-Tech Summit in
London and the World Congress of
Food Science & Technology in Singapore. The company showcased its 3D
bioprinting capabilities, allowing visitors to 3D print their own
personalized steaks. This helped generate interest, traction and
leads.
- In November 2022, the company
hosted its first US tasting event. Guests were treated to a variety
of hybrid canapes with cultivated meat that was grown from cells
sourced from Texas cattle. The
event also included a live 3D printing demonstration with attendees
given the opportunity to print personalized steaks. The event
brought together top leaders from the industry and included a panel
discussion entitled, "The Future of Food and Our Planet." The event
was covered by top media outlets.
About Steakholder Foods
Steakholder Foods Ltd., formerly MeaTech 3D Ltd., is an
international deep-tech food company at the forefront of the
cultured meat revolution. The company initiated activities in 2019
and is listed on the Nasdaq Capital Market under the ticker "STKH"
(formerly MITC). Steakholder Foods maintains facilities in Rehovot,
Israel and Antwerp, Belgium and has recently expanded
activities to the US.
The company is developing a slaughter-free solution for
producing a variety of beef, chicken, pork, and seafood products --
both as raw materials and whole cuts -- as an alternative to
industrialized farming and fishing. With its membership in the UN
Global Compact, Steakholder Foods is committed to act in support of
issues embodied in the United Nations Sustainable Development Goals
(SDGs) which include strengthening food security, decreasing carbon
footprint, and conserving water and land resources.
For more information, please visit:
https://steakholderfoods.com
Forward-Looking Statements
This press release contains forward-looking statements
concerning Steakholder Foods' business, operations and financial
performance and condition as well as plans, objectives, and
expectations for Steakholder Foods' business operations and
financial performance and condition. Any statements that are not
historical facts may be deemed to be forward-looking statements.
Forward-looking statements reflect Steakholder Foods' current views
with respect to future events and are based on assumptions and
subject to known and unknown risks and uncertainties, which change
over time, and other factors that may cause Steakholder Foods'
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements.
Forward-looking statements include, without limitation, any
statement that may predict, forecast, indicate or imply future
results, performance or achievements, and are typically identified
with words such as "may," "could," "should," "will," "would,"
"believe," "anticipate," "estimate," "expect," "aim," "intend,"
"plan" or words or phases of similar meaning and include, without
limitation, Steakholder Foods' expectations regarding the success
of its cultured meat manufacturing technologies it is developing,
which will require significant additional work before Steakholder
Foods can potentially launch commercial sales; Steakholder Foods'
research and development activities associated with technologies
for cultured meat manufacturing, including three-dimensional meat
production, which involves a lengthy and complex process;
Steakholder Foods' ability to obtain and enforce its intellectual
property rights and to operate its business without infringing,
misappropriating, or otherwise violating the intellectual property
rights and proprietary technology of third parties; and other risks
and uncertainties, including those identified in Steakholder Foods'
Annual Report on Form 20-F for the fiscal year ended December 31, 2021, filed with the Securities and
Exchange Commission on March 24,
2022. New risks and uncertainties may emerge from time to
time, and it is not possible for Steakholder Foods to predict their
occurrence or how they will affect Steakholder Foods. If one or
more of the factors affecting Steakholder Foods' forward-looking
information and statements proves incorrect, then Steakholder
Foods' actual results, performance or achievements could differ
materially from those expressed in, or implied by, forward-looking
information and statements contained in this press release.
Therefore, Steakholder Foods cautions you not to place undue
reliance on its forward-looking information and statements.
Steakholder Foods disclaims any duty to revise or update the
forward-looking statements, whether written or oral, to reflect
actual results or changes in the factors affecting the
forward-looking statements, except as specifically required by
law.
Unaudited Condensed consolidated interim statements
of financial position
|
|
|
|
September
30
|
|
September
30
|
|
December
31
|
|
|
|
2022
|
|
2021
|
|
2021
|
|
|
|
USD
thousands
|
|
USD
thousands
|
|
USD
thousands
|
Current
assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
11,203
|
|
25,441
|
|
19,176
|
Other
investment
|
|
|
135
|
|
149
|
|
154
|
Receivables
|
|
|
764
|
|
1,890
|
|
2,782
|
Total current
assets
|
|
|
12,102
|
|
27,480
|
|
22,112
|
|
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restricted
deposits
|
|
|
374
|
|
391
|
|
405
|
Other
investment
|
|
|
1,180
|
|
1,287
|
|
1,355
|
Right-of-use
asset
|
|
|
3,478
|
|
328
|
|
407
|
Intangible
assets
|
|
|
11,706
|
|
11,362
|
|
13,453
|
Fixed assets,
net
|
|
|
4,386
|
|
2,467
|
|
2,922
|
|
|
|
|
|
|
|
|
Total non-current
assets
|
|
|
21,124
|
|
15,835
|
|
18,542
|
|
|
|
|
|
|
|
|
Total
Assets
|
|
|
33,226
|
|
43,315
|
|
40,654
|
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade
payables
|
|
|
581
|
|
313
|
|
382
|
Other
payables
|
|
|
2,154
|
|
1,837
|
|
2,239
|
Current maturities of
lease liabilities
|
|
|
407
|
|
251
|
|
165
|
Derivative
instrument
|
|
|
2,450
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
Total current
liabilities
|
|
|
5,592
|
|
2,401
|
|
2,786
|
|
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term lease
liabilities
|
|
|
3,195
|
|
81
|
|
246
|
|
|
|
|
|
|
|
|
Total non-current
liabilities
|
|
|
3,195
|
|
81
|
|
246
|
|
|
|
|
|
|
|
|
Capital
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share capital and
premium on shares
|
|
|
72,231
|
|
68,348
|
|
69,610
|
Capital
reserves
|
|
|
3,581
|
|
2,653
|
|
3,708
|
Currency translation
differences reserve
|
|
|
(2,771)
|
|
519
|
|
1,275
|
Accumulated
deficit
|
|
|
(48,602)
|
|
(30,687)
|
|
(36,971)
|
|
|
|
|
|
|
|
|
Total
capital
|
|
|
24,439
|
|
40,833
|
|
37,622
|
Total liabilities
and capital
|
|
|
33,226
|
|
43,315
|
|
40,654
|
|
|
|
|
|
|
|
|
Unaudited Condensed consolidated interim of Income
and of Comprehensive Loss
|
|
|
|
|
|
|
Nine months
ended
September
30,
|
|
Nine months
ended
September
30,
|
|
Year ended
December
31,
|
|
|
|
|
|
2022
|
|
2021
|
|
2021
|
|
|
|
|
|
USD thousands,
except share data
|
|
USD thousands,
except share data
|
|
USD thousands,
except share data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development expenses
|
|
|
|
|
7,219
|
|
4,928
|
|
7,594
|
Marketing
expenses
|
|
|
|
|
2,426
|
|
872
|
|
1,628
|
General and
administrative expenses
|
|
|
|
|
4,982
|
|
5,961
|
|
8,010
|
Operating
loss
|
|
|
|
|
14,627
|
|
11,761
|
|
17,232
|
|
|
|
|
|
|
|
|
|
|
Financing
income
|
|
|
|
|
(3,258)
|
|
(457)
|
|
(509)
|
Financing
expenses
|
|
|
|
|
262
|
|
434
|
|
1,299
|
Total financing
(income) expenses
|
|
|
|
|
(2,996)
|
|
(23)
|
|
790
|
|
|
|
|
|
|
|
|
|
|
Loss for
the period
|
|
|
|
|
11,631
|
|
11,738
|
|
18,022
|
|
|
|
|
|
|
|
|
|
|
Currency translation
differences loss (income) that might be
transferred to profit or loss over ILS
|
|
|
|
|
2,301
|
|
(456)
|
|
(1,942)
|
Currency translation
differences loss (income) that might be
transferred to profit or loss over EUR
|
|
|
|
|
1,745
|
|
717
|
|
1,447
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive
loss for the period
|
|
|
|
|
15,677
|
|
11,999
|
|
17,527
|
|
|
|
|
|
|
|
|
|
|
Loss per
ordinary share, no par value (USD)
|
|
|
|
|
|
|
|
|
|
Basic and
diluted loss per share (USD)
|
|
|
|
|
0.088
|
|
0.104
|
|
0.155
|
|
|
|
|
|
|
|
|
|
|
Weighted-average number of shares outstanding -
basic and diluted (shares)
|
|
|
|
|
132,652,822
|
|
112,891,686
|
|
115,954,501
|
Unaudited Condensed consolidated interim of Income
and of Comprehensive Loss
|
|
|
|
|
|
|
Three months
ended
September
30,
|
|
Three months
ended
September
30,
|
|
|
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
USD thousands,
except share data
|
|
USD thousands,
except share data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development expenses
|
|
|
|
|
2,792
|
|
2,018
|
|
Marketing
expenses
|
|
|
|
|
467
|
|
267
|
|
General and
administrative expenses
|
|
|
|
|
1,295
|
|
1,802
|
|
Operating
loss
|
|
|
|
|
4,554
|
|
4,087
|
|
|
|
|
|
|
|
|
|
|
Financing
income
|
|
|
|
|
(2,196)
|
|
(130)
|
|
Financing
expenses
|
|
|
|
|
117
|
|
15
|
|
Total financing
(income) expenses
|
|
|
|
|
(2,079)
|
|
(115)
|
|
|
|
|
|
|
|
|
|
|
Loss for
the period
|
|
|
|
|
2,475
|
|
3,972
|
|
|
|
|
|
|
|
|
|
|
Currency translation
differences loss (income) that might
be transferred to profit or loss over ILS
|
|
|
|
|
(25)
|
|
(163)
|
|
Currency translation
differences loss (income) that might
be transferred to profit or loss over EUR
|
|
|
|
|
898
|
|
501
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive
loss for the period
|
|
|
|
|
3,348
|
|
4,310
|
|
|
|
|
|
|
|
|
|
|
Loss per
ordinary share, no par value (USD)
|
|
|
|
|
|
|
|
|
Basic and
diluted loss per share (USD)
|
|
|
|
|
0.017
|
|
0.032
|
|
|
|
|
|
|
|
|
|
|
Weighted-average number of shares outstanding - basic and
diluted (shares)
|
|
|
|
|
145,116,113
|
|
124,048,833
|
|
Unaudited Condensed
consolidated interim statements of changes in equity
|
|
|
Premium
and
Capital
Share
|
|
Fair
value of financial
assets reserve
|
|
Transactions with related parties
reserve
|
|
Currency translation differences reserve
|
|
Share-based payments
reserve
|
|
Accumulated
deficit
|
|
Total
|
|
|
|
|
|
|
|
USD
thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as at January
1, 2022
|
|
69,610
|
|
(334)
|
|
14
|
|
1,275
|
|
4,028
|
|
(36,971)
|
|
37,622
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
payments
|
|
-
|
|
-
|
|
-
|
|
-
|
|
1,092
|
|
-
|
|
1,092
|
Issuance of shares and
warrants, net
|
|
1,348
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
1,348
|
Exercise of
options
|
|
1,273
|
|
|
|
|
|
|
|
(1,219)
|
|
|
|
54
|
Other comprehensive
income (loss)
|
|
-
|
|
-
|
|
-
|
|
(4,046)
|
|
-
|
|
-
|
|
(4,046)
|
Loss for the
period
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(11,631)
|
|
(11,631)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as at September
30, 2022
|
|
72,231
|
|
(334)
|
|
14
|
|
(2,771)
|
|
3,901
|
|
(48,602)
|
|
24,439
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as at January
1, 2021
|
|
30,481
|
|
(334)
|
|
14
|
|
780
|
|
3,639
|
|
(18,949)
|
|
15,631
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-Based
Payment
|
|
-
|
|
-
|
|
-
|
|
-
|
|
2,829
|
|
-
|
|
2,829
|
Issuance of shares and
warrants, net
|
|
31,176
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
31,176
|
Exercise of
options
|
|
6,691
|
|
|
|
|
|
|
|
(3,495)
|
|
|
|
3,196
|
Other comprehensive
income (loss)
|
|
-
|
|
-
|
|
-
|
|
(261)
|
|
-
|
|
-
|
|
(261)
|
Loss for the
period
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(11,738)
|
|
(11,738)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as at September
30, 2021
|
|
68,348
|
|
(334)
|
|
14
|
|
519
|
|
2,973
|
|
(30,687)
|
|
40,833
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as at January
1, 2021
|
|
30,481
|
|
(334)
|
14
|
780
|
3,639
|
|
|
|
(18,949)
|
15,631
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
payments
|
|
-
|
|
-
|
-
|
-
|
3,965
|
|
|
-
|
3,965
|
Issuance of shares and
warrants, net
|
|
32,330
|
|
-
|
-
|
-
|
-
|
|
|
-
|
32,330
|
Exercise of
options
|
|
6,799
|
|
|
|
|
|
|
|
(3,576)
|
|
-
|
3,223
|
Other comprehensive
income (loss)
|
|
-
|
|
-
|
-
|
495
|
-
|
|
|
-
|
495
|
Loss for the
period
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
(18,022)
|
(18,022)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as at
December 31, 2021
|
|
69,610
|
|
(334)
|
14
|
1,275
|
4,028
|
|
|
(36,971)
|
37,622
|
Unaudited Condensed consolidated interim statements
of cash flows
|
|
|
Nine months ended
September 30,
|
Nine months ended
September 30,
2021
|
Year ended
December 31,
2021
|
|
|
|
2022
|
|
USD
thousands
|
USD
thousands
|
USD
thousands
|
Cash flows -
operating activities
|
|
|
|
Net Loss for the
period
|
(11,631)
|
(11,738)
|
(18,022)
|
|
|
|
|
Adjustments:
|
|
|
|
Depreciation and
amortization
|
1,099
|
479
|
680
|
Change in fair value
of derivative
|
(2,100)
|
(312)
|
(316)
|
Change in fair value
of other investment
|
(99)
|
(138)
|
(193)
|
Net foreign exchange
expenses
|
(901)
|
411
|
1,279
|
Interest expense over
lease liabilities
|
250
|
7
|
9
|
Interest income over
short term deposits
|
(73)
|
-
|
-
|
Share-based payment
expenses
|
1,092
|
2,829
|
3,965
|
Changes in asset
and liability items:
|
|
|
|
Decrease (increase)
in receivables
|
1,790
|
(1,523)
|
(2,351)
|
Increase (decrease)
in trade payables
|
315
|
(309)
|
(97)
|
Increase (decrease)
in other payables
|
413
|
682
|
1,095
|
Net cash from (used
in) operating activities
|
(9,845)
|
(9,612)
|
(13,951)
|
|
|
|
|
Cash flows -
investment activities
|
|
|
|
Acquisition of fixed
assets
|
(2,686)
|
(1,124)
|
(1,828)
|
Increase in
restricted deposit
|
(20)
|
(337)
|
(337)
|
Loan
provided
|
-
|
(367)
|
(367)
|
Proceeds on account
of other investment*
|
110
|
111
|
149
|
Interest received
over short term deposits
|
73
|
-
|
-
|
Acquisition of other
investments, net of cash acquired
|
(188)
|
(5,685)
|
(6,808)
|
|
|
|
|
Net cash used in
investing activities
|
(2,711)
|
(7,402)
|
(9,191)
|
|
|
|
|
Cash flows -
financing activities
|
|
|
|
Proceeds from
issuance of shares and warrants
|
2,005
|
29,281
|
29,281
|
Issuance
costs
|
(657)
|
(3,283)
|
(3,283)
|
Repayment of
liability for lease
|
(316)
|
(222)
|
(346)
|
Repayment of interest
over liability of lease
|
(250)
|
(7)
|
(9)
|
Proceeds with regard
to derivative
|
4,495
|
-
|
-
|
Proceeds from
exercise of share options
|
53
|
3,196
|
3,222
|
|
|
|
|
Net cash from
financing activities
|
5,330
|
28,965
|
28,865
|
|
|
|
|
Increase (Decrease)
in cash and cash equivalents
|
(7,226)
|
11,951
|
5,723
|
Effect of exchange
differences on cash and cash equivalents
|
(747)
|
(66)
|
(103)
|
Cash and cash
equivalents at the beginning of the period:
|
19,176
|
13,556
|
13,556
|
|
|
|
|
Cash balance and cash
equivalents at end of period
|
11,203
|
25,441
|
19,176
|
Non-cash
activities
|
|
|
|
Purchase of fixed
assets yet to be paid
|
4
|
188
|
57
|
Issue of shares and
options against intangible asset
|
-
|
4,359
|
6,332
|
|
|
|
|
*Reclassified
Press Contact:
|
Investor Contacts:
|
Maissa
Dauriac
Rainier Communications
mdauriac@rainierco.com
|
Joseph Green
Edison Group
jgreen@edisongroup.com
|
Ehud Helft
Edison Israel
ehelft@edisongroup.com
|
View original
content:https://www.prnewswire.com/news-releases/steakholder-foods-reports-financial-results-for-q3-2022-and-provides-business-update-301686165.html
SOURCE Steakholder Foods Ltd.