RVRC 10-K & 10-Q changes, risk factors and insider trading

In March 2026, ,the weCompany submitted an application to the Israel Innovation Authority for non-dilutive funding support related to the Nano-Mupirocin program. TheOn May 28, 2026, the Company was notified that the application iswas undernot review, approved in the current review cycle. In its written decision, the Research Committee noted favorably the product’s functional innovation and thererecognized the significant unmet medical need and commercial potential of the program. The Committee also indicated that additional supporting data would be required to address certain identified development gaps. The Company intends to present a work plan designed to address the Committee’s feedback and, following the generation of additional supporting data, to submit a revised application for funding. There can be no assurance thatas theto grantwhen or whether a revised application will be submitted, whether any such application will be approved or thatwhether any funding will be received. No amounts have been recognized in the accompanying financial statements in connection with thisthe application.

Our operations have focused on research and development activities, GMP manufacturing preparation for the clinical trials andand, regulatory activities. We do not expect to generate revenues unless and until we successfully complete clinical development, obtain regulatory approval of one or more product candidates, or enter into strategic collaborations or licensing arrangements with strategic partners.

General and administrative expenses consist primarily of personnel-related costs, including salaries, benefits, and equity-based compensation for executive, administrative, and support staff,staff and rent. These expenses also include professional service fees for legal, accounting, auditing, consulting, insurance, investor relations, and other corporate services, as well as facilities and related overhead costs.

We have funded our operations primarily through equity financing and stockholder loans. As of MarchJune 31,30, 2026, we had cash and cash equivalents and short-term bank deposits of approximately $2.1 $1.5 million.

Results of Operations for the three and six months ended MarchJune 31,30, 2026, and MarchJune 31,30, 2025

The following tables present selected financial data for the Company for the three-monththree periodand commencingsix Januarymonths 1,periods 2026,ended untilJune March 31,30, 2026, and the periodcomparable commencingperiods Januaryended 1, 2025,June until March 31,30, 2025 (U.S. dollars in thousands):

The Company’s general and administrative expenses totaled $266,000$289 thousand for the three months period ended MarchJune 31,30, 2026, representing a decrease of $253,000,$258 thousand, or 48.7%,47.2%, compared to the Company’s general and administrative expenses of $519,000$547 thousand for the same period in 2025. The decrease was primarily attributable to lower share based payment expense recorded inFor the threesix months period ended MarchJune 31,30, 20262026, general and administrative expenses totaled $555 thousand, compared withto $1,066 thousand for the same period in 2025 and decrease is salaries and related expenses due to increase of focus of Company's executives in research and development department during 2026.2025.

As a result of the foregoing, Thethe Company’s operating loss totaled $739,000$732 thousand for the three months period ended MarchJune 31,30, 2026, representing ana increasedecrease of $2,000,$206 thousand, or 0.2%,22.0%, compared to the Company’s operating loss of $737,000$938 thousand for the same period in 2025. For the six months period ended June 30, 2026, the operating loss totaled $1,471 thousand, compared to $1,675 thousand for the same period in 2025.

As a result of the foregoing, the Company’s net loss totaled $725,000 $748 thousand for the three months period ended MarchJune 31,30, 2026, representing ana decrease of $91,000,$291 thousand, or 14.3%,28.0%, compared to $634,000$1,039 thousand for the same period in 2025. For the six months period ended June 30, 2026, the net loss totaled $1,473 thousand, compared to $1,673 thousand for the same period in 2025.

To date, the Company has not generated any revenues from its current operations, incurred losses, and therefore is dependent upon external sources for financing its operations. As of March 31,June 30, 2026, the Company had an accumulated deficit of $25.7$26.4 million. To support its operations and advance its development programs, the Company intends to continue securing investments. Management anticipates that additional capital will be necessary to fund its ongoing R&D activities and to explore opportunities for acquiring healthcare or healthcare-related technologies. However, there are currently no binding commitments for further investment, and there can be no assurance that the Company will secure the required capital on commercially reasonable terms, or at all.

For the period ended MarchJune 31,30, 2026, and as of the date of this report, we assessed our financial condition and concluded that based on our current and projected cash resources and commitments, as well as other factors mentioned above, there is a substantial doubt about our ability to continue as a going concern. Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation. We have accumulated deficit of $25.7$26.4 million as well as negative operating cash flows. If the Company is unable to obtain adequate capital, the Company may be required to reduce the scope, delay, or eliminate some or all of its planned operations. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying value of assets or liabilities as a result of this uncertainty.