Common use of Negevtech Ltd Clause in Contracts

Negevtech Ltd. CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. dollars in thousands) REVENUES 15,856 3,290 COST OF REVENUES 8,918 2,245 615 GROSS PROFIT (LOSS) 6,938 1,045 (615 ) Research and development expenses 9g 9,158 7,043 6,650 L e s s - royalty bearing participation from the Government of Israel 1,524 2,000 2,100 RESEARCH AND DEVELOPMENT EXPENSES - net 7,634 5,043 4,550 MARKETING, GENERAL AND ADMINISTRATIVE EXPENSES, net 9h 12,932 4,703 2,922 NON-CASH EXPENSES IN RESPECT OF CONVERSION OF FOUNDERS’ ORDINARY SHARES INTO ORDINARY PREFERRED SHARES 6,437 OPERATING LOSS 13,628 15,138 8,087 FINANCIAL EXPENSES (INCOME), net: NON-CASH EXPENSES IN RESPECT OF CONVERSION OF CONVERTIBLE LOANS FROM SHEREHOLDERS 1,251 OTHER FINANCIAL EXPENSES (INCOME), net 1,232 188 (123 ) LOSS FOR THE PERIOD 16,111 15,326 7,964 NEGEVTECH LTD. STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (U.S. dollars in thousands, except share amounts) BALANCE AT JANUARY 1, 2003 2,508,392 12,071,278 36 36,588 (31 ) 194 (12,724 ) 24,063 Warrants issued to service providers 25 25 Issuance expenses (1 ) (1 ) Exercise of warrants 71,829 (a ) 53 (53 ) (a ) Exercise of employee stock options 2,500 1 1 Amortization of deferred stock-based compensation 24 24 Loss (7,964 ) (7,964 ) BALANCE AT DECEMBER 31, 2003-forward 2,582,721 12,071,278 37 36,640 (7 ) 166 (20,688 ) 16,148

Negevtech Ltd. CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. dollars in thousands) REVENUES 15,856 3,290 COST OF REVENUES 8,918 2,245 615 GROSS PROFIT (LOSS) 6,938 1,045 (615 ) Research and development expenses 9g 9,158 7,043 6,650 L e s s - royalty bearing participation from the Government of Israel 1,524 2,000 2,100 RESEARCH AND DEVELOPMENT EXPENSES - net 7,634 5,043 4,550 MARKETING, GENERAL AND ADMINISTRATIVE EXPENSES, net 9h 12,932 4,703 2,922 NON-CASH EXPENSES IN RESPECT OF CONVERSION OF FOUNDERS’ ORDINARY SHARES INTO ORDINARY PREFERRED SHARES 6,437 OPERATING LOSS 13,628 15,138 8,087 FINANCIAL EXPENSES (INCOME), net: NON-CASH EXPENSES IN RESPECT OF CONVERSION OF CONVERTIBLE LOANS FROM SHEREHOLDERS 1,251 OTHER FINANCIAL EXPENSES (INCOME), net 1,232 188 (123 ) LOSS FOR THE PERIOD 16,111 15,326 7,964 NEGEVTECH LTD. STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (U.S. dollars in thousands, except share amounts) BALANCE AT JANUARY 1, 2003 2,508,392 12,071,278 36 36,588 (31 ) 194 (12,724 ) 24,063 Warrants issued to service providers 25 25 Issuance expenses (1 ) (1 ) Exercise of warrants 71,829 (a ) 53 (53 ) (a ) Exercise of employee stock options 2,500 1 1 Amortization of deferred stock-based compensation 24 24 Loss (7,964 ) (7,964 ) BALANCE AT DECEMBER 31, 2003-2003- forward 2,582,721 12,071,278 37 36,640 (7 ) 166 (20,688 ) 16,148