Bio View : Q1-2021

BIO VIEW LTD.

INTERIM REPORT AS OF MARCH 31, 2021

1

TRANSLATION FROM HEBREW ORIGINAL

BIOVIEW LTD.

INTERIM REPORT

(Unaudited)

AS OF MARCH 31, 2021

TABLE OF CONTENTS
	Page
FINANCIAL STATEMENTS - IN NEW ISRAELI SHEKELS (NIS):
Statement of financial position	F-3
Statement of comprehensive income	F-4
Statement of cash flows	F-5 - F-6

BIO VIEW LTD.

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

		March 31						December 31,
A s s e t s	2021					2020			2020
(Unaudited)				(Audited)
CURRENT ASSETS:
Cash and cash equivalents	17,813					17,251		17,239
Accounts receivable:
Trade	4,135					2,767		3,223
Other	672					407		568
Inventory	4,174					4,414		4,377
		26,794					24,839				25,407
NON-CURRENT ASSETS :
Restricted cash	220					125		125
Long Term Receivables	702					690		699
ROU Asset	5,223					2,228		1,503
Deferred taxes	5,298					5,721		5,465
Property and equipment - net	675					671		690
		12,118					9,435			8,482
T o t a l assets		38,912					34,274			33,889
L i a b i l i t i e s a n d equity
CURRENT LIABILITIES:
Accounts payable:
Trade	1,116					1,395		1,177
Other	1,899					2,073		2,401
Deferred income	3,533					3,084		2,837
Leasing liability	948					1,107		1,067
Provision for warranty	354					421		355
NON-CURRENT LIABILITIES:		7,850					8,080			7,837
Liability for employee rights upon retirement - net	446					475		441
Deferred income	228					115		147
Leasing liability	4,263					1,085		395
		4,937					1,675			983
COMMITMENTS AND CONTINGENT LIABILITIES
T o t a l liabilities		12,787					9,755			8,820
EQUITY:
Ordinary shares	141					141		141
Additional paid-in capital	53,044					52,909		53,044
Warrants	671					665		661
Reserve from currency translation differences	(995)					(712)		(1,142)
Treasury Shares	(671)					-		(671)
Accumulated deficit	(26,065)					(28,484)		(26,964)
Total equity		26,125					24,519			25,069
Total liabilities and equity		38,912					34,274			33,889

The accompanying notes are an integral part of these financial statements.

F-3

BIO VIEW LTD.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

		Three months ended							Year ended
		March 31								December 31,
	2021				2020			2020
		(Unaudited)							(Audited)
SALES	7,435				5,454	25,960
COST OF SALES	3,407				2,315			10,176
GROSS PROFIT	4,028				3,139	15,784
RESEARCH AND DEVELOPMENT
EXPENSES	1,330				1,593	5,354
SELLING AND MARKETING EXPENSES	939				1,221	4,035
GENERAL AND ADMINISTRATIVE
EXPENSES	1,242				1,316	4,730
OTHER INCOME (MAINLY ER)	(597)				(386)			464
OPERATING LOSS	1,114				(605)	1,201
FINANCIAL INCOME, net	37				23			60
LOSS BEFORE TAXES ON INCOME	1,077				(628)	1,141
TAX EXPENSES	178				8			257
LOSS FOR THE PERIOD	899				(636)	884
OTHER COMPREHENSIVE INCOME:
CURRENCY TRANSLATION
DIFFERENCES	152				135	(329)
EMPLOYEE BENEFITS		(5)				42			76
TOTAL COMPREHENSIVE LOSS FOR	1,046				(459)	631
THE PERIOD
						NIS
BASIC LOSS PER SHARE		0.06				(0.04)			0.06
DILUTED LOSS PER SHARE		0.06				(0.04)			0.06

The accompanying notes are an integral part of these financial statements.

F-4

BIO VIEW LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
		Three months ended				Year ended
		March 31,				December 31,
	2021		2020		2020
		(Unaudited)				(Audited)
CASH FLOWS FROM OPERATING ACTIVITIES:			NIS in thousands
Net cash provided by (used in) operating activities (see Appendix A)	762	(936)	933
Income tax paid - net	(6)	(9)	(85)
Interest paid for leasing	(26)	(18)	(46)
Net cash provided by (used in) operating activities		730		(963)			802
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property and equipment	(49)	(231)	(304)
Restricted deposit	(3)	-	(9)
Net cash used in investing activities		(52)		(231)			(313)
CASH FLOWS FROM FINANCING ACTIVITIES:
Leasing	(258)	(310)	(1,027)
Treasury Shares	-	-	(671)
Exercise of Employees' Options	-	-	98
Net cash provided by financing activities		(258)		(310)			(1,600)
DECREASE IN CASH AND CASH EQUIVALENTS	420	(1,504)			(1,111)
BALANCE OF CASH AND CASH EQUIVALENTS AT
BEGINNING OF YEAR	17,239	18,743	18,743
PROFITS (LOSSES) FROM EXCHANE DIFFERENCES ON
CASH AND CASH EQUIVALENTS	154	12	(393)
BALANCE OF CASH AND CASH EQUIVALENTS AT
END OF YEAR	17,813		17,251		17,239

F-5