while we rollout our products to major retailers and apparel companies , there is a lead time for new customers to ramp up before we can recognize revenue . this lead time varies between customers , especially when the customer is a tier 1 retailer , where the integration process may take longer . generally , first we integrate our product into a customer 's online platform , which is followed by piloting and implementation , and , assuming we are successful , commercial roll-out , all of which takes time before we expect it to impact our financial results in a meaningful way . while we have begun generating initial sales revenue , we do not expect to generate meaningful revenue during the upcoming quarters . because of the numerous risks and uncertainties associated with the success of our market penetration and our dependence on the extent to which mysizeid is adopted and utilized , we are unable to predict the extent to which we will recognize revenue . we may be unable to successfully develop or market any of our current or proposed products or technologies , those products or technologies may not generate any revenues , and any revenues generated may not be sufficient for us to become profitable or thereafter maintain profitability . results of operations the table below provides our results of operations for the periods indicated . replace_table_token_0_th 36 year ended december 31 , 2020 compared to year ended december 31 , 2019 revenues from inception through december 31 , 2018 , we did not generate any revenue from operations and we continue to expect to incur additional losses to perform further research and development activities . we started to generate revenues only in 2019. our revenues for the year ended december 31 , 2020 amounted to $ 142,000 compared to $ 63,000 for year ended december 31 , 2019. the increase from the corresponding period primarily resulted from increase in traffic , as measured by the mysizeid engine under the license agreements with customers and from fees from customer projects . research and development expenses our research and development expenses for the year ended december 31 , 2020 amounted to $ 1,523,000 an increase of $ 7,000 , or approximately 0.5 % , compared to $ 1,516,000 for the year ended december 31 , 2019. the increase resulted primarily from increased expenses associated with hiring new employees and from stock-based payments , which were offset by a decrease in subcontractor expenses . we expect that research and development expenses will continue to increase in 2021 and that we will recruit additional employees . sales and marketing expenses our sales and marketing expenses for the year ended december 31 , 2020 amounted to $ 2,196,000 , an increase of $ 267,000 , or 13.8 % , compared to $ 1,929,000 for the year ended december 31 , 2019. the increase primarily resulted from an increase in subcontractor and marketing expenses which were offset by a decrease in travel expenses and from stock-based payments . general and administrative expenses our general and administrative expenses for the year ended december 31 , 2020 amounted to $ 2,567,000 , a decrease of $ 20,000 , or 0.8 % , compared to $ 2,587,000 for the year ended december 31 , 2019. the decrease compared to the corresponding period was mainly due to a reduction in stock-based payment expenses , payroll expenses which were offset by an increase in rent and office maintenance related and insurance expenses . during 2020 , we had an expense of $ 276,000 in respect of stock-based payments , compared to an expense of $ 352,000 in 2019. operating loss as a result of the foregoing , for the year ended december 31 , 2020 , our operating loss was $ 6,146,000 , an increase of $ 156,000 , or 2.6 % , compared to our operating loss for the year ended december 31 , 2019 of $ 5,990,000. financial income ( expenses ) , net our financial expenses , net for the year ended december 31 , 2020 amounted to $ 11,000 as opposed to financial income , net of $ 493,000 for the year ended december 31 , 2019. in 2020 , we had financial expenses exchange rate differences offset by an income from fair value revaluation of investment in marketable securities whereas in 2019 we had financial income from the fair value revaluation of warrants offset by expenses from exchange rate differences and expenses from fair value revaluation of investment in marketable securities . net loss as a result of the foregoing , research and development , marketing general and administrative expenses , and initial revenues , our net loss for the year ended december 31 , 2020 was $ 6,157,000 compared to net loss of $ 5,497,000 for the year ended december 31 , 2019. the increase in net loss was mainly due increase in sales and marketing expenses and financial expenses as opposed to financial income in the corresponding period . 37 story_separator_special_tag style= `` font : 10pt times new roman , times , serif ; width : 100 % `` > ● respond to competitive pressures ; ● comply with regulatory requirements ; and ● maintain compliance with applicable laws . current conditions in the capital markets are such that traditional sources of capital may not be available to us when needed or may be available only on unfavorable terms . our ability to raise additional capital , if needed , will depend on conditions in the capital markets , economic conditions , the impact of the covid-19 pandemic and a number of other factors , many of which are outside our control , and on our financial performance . story_separator_special_tag accordingly , we can not assure you that we will be able to successfully raise additional capital at all or on terms that are acceptable to us . if we can not raise additional capital when needed , it may have a material adverse effect on our business , results of operations and financial condition . to the extent that we raise additional capital through the sale of equity or convertible debt securities , the issuance of such securities could result in substantial dilution for our current stockholders . the terms of any securities issued by us in future capital transactions may be more favorable to new investors , and may include preferences , superior voting rights and the issuance of warrants or other derivative securities , which may have a further dilutive effect on the holders of any of our securities then-outstanding . we may issue additional shares of our common stock or securities convertible into or exchangeable or exercisable for our common stock in connection with hiring or retaining personnel , option or warrant exercises , future acquisitions or future placements of our securities for capital-raising or other business purposes . the issuance of additional securities , whether equity or debt , by us , or the possibility of such issuance , may cause the market price of our common stock to decline and existing stockholders may not agree with our financing plans or the terms of such financings . in addition , we may incur substantial costs in pursuing future capital financing , including investment banking fees , legal fees , accounting fees , securities law compliance fees , printing and distribution expenses and other costs . we may also be required to recognize non-cash expenses in connection with certain securities we issue , such as convertible notes and warrants , which may adversely impact our financial condition . furthermore , any additional debt or equity financing that we may need may not be available on terms favorable to us , or at all . if we are unable to obtain such additional financing on a timely basis , we may have to curtail our development activities and growth plans and or be forced to sell assets , perhaps on unfavorable terms , or we may have to cease our operations , which would have a material adverse effect on our business , results of operations and financial condition . recently issued accounting pronouncements certain recently issued accounting pronouncements are discussed in note 2 , significant accounting policies , to the consolidated financial statements included in “ item 8. financial statements and supplementary data ” of this annual report on form 10-k. off-balance sheet arrangements we have not entered into any transactions with unconsolidated entities in which we have financial guarantees , subordinated retained interests , derivative instruments or other contingent arrangements that expose us to material continuing risks , contingent liabilities or any other obligations under a variable interest in an unconsolidated entity that provides us with financing , liquidity , market risk or credit risk support . 39 application of critical accounting policies and estimates our management 's discussion and analysis of our financial condition and results of operations is based on our financial statements , which we have prepared in accordance with u.s. generally accepted accounting principles issued by the financial accounting standards board , or fasb . the preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported expenses during the reporting periods . actual results may differ from these estimates under different assumptions or conditions . while our significant accounting policies are more fully described in the notes to our financial statements appearing elsewhere in this annual report on form 10-k , we believe that the accounting policies discussed below are critical to our financial results and to the understanding of our past and future performance , as these policies relate to the more significant areas involving management 's estimates and assumptions . we consider an accounting estimate to be critical if : ( 1 ) it requires us to make assumptions because information was not available at the time or it included matters that were highly uncertain at the time we were making our estimate ; and ( 2 ) changes in the estimate could have a material impact on our financial condition or results of operations . revenue from contracts with customers the company implemented asc 606 , revenue from contract with customers . to recognize revenue under asc 606 , the company applies the following five steps : 1. identify the contract with a customer . a contract with a customer exists when the company enters into an enforceable contract with a customer and the company determines that collection of substantially all consideration for the services is probable . 2. identify the performance obligations in the contract . 3. determine the transaction price . the transaction price is determined based on the consideration to which the company will be entitled in exchange for providing the service to the customer . 4. allocate the transaction price to performance obligations in the contract . if a contract contains a single performance obligation , the entire transaction price is allocated to the single performance obligation . 5. recognize revenue when or as the company satisfies a performance obligation . when the company provides a service , revenue is recognized over the service term . the company 's revenue is derived from license cloud-enabled software subscriptions , associated software maintenance and support . revenue is recognized when a contract exists between the company and a customer ( business ) and upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services . the

liquidity and capital resources since our inception , we have funded our operations primarily through public and private offerings of debt and equity in israel and in the u.s. as of december 31 , 2020 , we had cash , cash equivalents and restricted cash of $ 1,774,000 and short-term restricted deposit of $ 184,000 compared to $ 1,466,000 cash , cash equivalents , restricted cash as of december 31 , 2019 and short-term deposit and no short-term restricted deposit as of december 31 , 2019. this increase primarily resulted from the public offerings that we completed in january and may 2020 both of which are further described below . in addition , on march 25 , 2021 , we completed an underwritten public offering of our common stock pursuant to which we issued 2,618,532 shares of our common stock at a public offering price of $ 1.28 per share for gross proceeds of $ 3,300,000. we received net proceeds of approximately $ 2,904,000 , after deducting the underwriting discounts and commissions and estimated offering expenses . prior to that , on january 8 , 2021 , we completed an underwritten public offering of our common stock pursuant to which we issued 1,569,179 shares of our common stock at a public offering price of $ 1.28 per share for gross proceeds of $ 2,008,000. we received net proceeds of approximately $ 1,700,000 , after deducting the underwriting discounts and commissions and estimated offering expenses . furthermore , in january and february 2021 , a holder of warrants exercised warrants to purchase 725,000 of our ordinary shares in exchange for $ 0.8 million .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources since our inception , we have funded our operations primarily through public and private offerings of debt and equity in israel and in the u.s. as of december 31 , 2020 , we had cash , cash equivalents and restricted cash of $ 1,774,000 and short-term restricted deposit of $ 184,000 compared to $ 1,466,000 cash , cash equivalents , restricted cash as of december 31 , 2019 and short-term deposit and no short-term restricted deposit as of december 31 , 2019. this increase primarily resulted from the public offerings that we completed in january and may 2020 both of which are further described below . in addition , on march 25 , 2021 , we completed an underwritten public offering of our common stock pursuant to which we issued 2,618,532 shares of our common stock at a public offering price of $ 1.28 per share for gross proceeds of $ 3,300,000. we received net proceeds of approximately $ 2,904,000 , after deducting the underwriting discounts and commissions and estimated offering expenses . prior to that , on january 8 , 2021 , we completed an underwritten public offering of our common stock pursuant to which we issued 1,569,179 shares of our common stock at a public offering price of $ 1.28 per share for gross proceeds of $ 2,008,000. we received net proceeds of approximately $ 1,700,000 , after deducting the underwriting discounts and commissions and estimated offering expenses . furthermore , in january and february 2021 , a holder of warrants exercised warrants to purchase 725,000 of our ordinary shares in exchange for $ 0.8 million .
```    
 Suspicious Activity Report : while we rollout our products to major retailers and apparel companies , there is a lead time for new customers to ramp up before we can recognize revenue . this lead time varies between customers , especially when the customer is a tier 1 retailer , where the integration process may take longer . generally , first we integrate our product into a customer 's online platform , which is followed by piloting and implementation , and , assuming we are successful , commercial roll-out , all of which takes time before we expect it to impact our financial results in a meaningful way . while we have begun generating initial sales revenue , we do not expect to generate meaningful revenue during the upcoming quarters . because of the numerous risks and uncertainties associated with the success of our market penetration and our dependence on the extent to which mysizeid is adopted and utilized , we are unable to predict the extent to which we will recognize revenue . we may be unable to successfully develop or market any of our current or proposed products or technologies , those products or technologies may not generate any revenues , and any revenues generated may not be sufficient for us to become profitable or thereafter maintain profitability . results of operations the table below provides our results of operations for the periods indicated . replace_table_token_0_th 36 year ended december 31 , 2020 compared to year ended december 31 , 2019 revenues from inception through december 31 , 2018 , we did not generate any revenue from operations and we continue to expect to incur additional losses to perform further research and development activities . we started to generate revenues only in 2019. our revenues for the year ended december 31 , 2020 amounted to $ 142,000 compared to $ 63,000 for year ended december 31 , 2019. the increase from the corresponding period primarily resulted from increase in traffic , as measured by the mysizeid engine under the license agreements with customers and from fees from customer projects . research and development expenses our research and development expenses for the year ended december 31 , 2020 amounted to $ 1,523,000 an increase of $ 7,000 , or approximately 0.5 % , compared to $ 1,516,000 for the year ended december 31 , 2019. the increase resulted primarily from increased expenses associated with hiring new employees and from stock-based payments , which were offset by a decrease in subcontractor expenses . we expect that research and development expenses will continue to increase in 2021 and that we will recruit additional employees . sales and marketing expenses our sales and marketing expenses for the year ended december 31 , 2020 amounted to $ 2,196,000 , an increase of $ 267,000 , or 13.8 % , compared to $ 1,929,000 for the year ended december 31 , 2019. the increase primarily resulted from an increase in subcontractor and marketing expenses which were offset by a decrease in travel expenses and from stock-based payments . general and administrative expenses our general and administrative expenses for the year ended december 31 , 2020 amounted to $ 2,567,000 , a decrease of $ 20,000 , or 0.8 % , compared to $ 2,587,000 for the year ended december 31 , 2019. the decrease compared to the corresponding period was mainly due to a reduction in stock-based payment expenses , payroll expenses which were offset by an increase in rent and office maintenance related and insurance expenses . during 2020 , we had an expense of $ 276,000 in respect of stock-based payments , compared to an expense of $ 352,000 in 2019. operating loss as a result of the foregoing , for the year ended december 31 , 2020 , our operating loss was $ 6,146,000 , an increase of $ 156,000 , or 2.6 % , compared to our operating loss for the year ended december 31 , 2019 of $ 5,990,000. financial income ( expenses ) , net our financial expenses , net for the year ended december 31 , 2020 amounted to $ 11,000 as opposed to financial income , net of $ 493,000 for the year ended december 31 , 2019. in 2020 , we had financial expenses exchange rate differences offset by an income from fair value revaluation of investment in marketable securities whereas in 2019 we had financial income from the fair value revaluation of warrants offset by expenses from exchange rate differences and expenses from fair value revaluation of investment in marketable securities . net loss as a result of the foregoing , research and development , marketing general and administrative expenses , and initial revenues , our net loss for the year ended december 31 , 2020 was $ 6,157,000 compared to net loss of $ 5,497,000 for the year ended december 31 , 2019. the increase in net loss was mainly due increase in sales and marketing expenses and financial expenses as opposed to financial income in the corresponding period . 37 story_separator_special_tag style= `` font : 10pt times new roman , times , serif ; width : 100 % `` > ● respond to competitive pressures ; ● comply with regulatory requirements ; and ● maintain compliance with applicable laws . current conditions in the capital markets are such that traditional sources of capital may not be available to us when needed or may be available only on unfavorable terms . our ability to raise additional capital , if needed , will depend on conditions in the capital markets , economic conditions , the impact of the covid-19 pandemic and a number of other factors , many of which are outside our control , and on our financial performance . story_separator_special_tag accordingly , we can not assure you that we will be able to successfully raise additional capital at all or on terms that are acceptable to us . if we can not raise additional capital when needed , it may have a material adverse effect on our business , results of operations and financial condition . to the extent that we raise additional capital through the sale of equity or convertible debt securities , the issuance of such securities could result in substantial dilution for our current stockholders . the terms of any securities issued by us in future capital transactions may be more favorable to new investors , and may include preferences , superior voting rights and the issuance of warrants or other derivative securities , which may have a further dilutive effect on the holders of any of our securities then-outstanding . we may issue additional shares of our common stock or securities convertible into or exchangeable or exercisable for our common stock in connection with hiring or retaining personnel , option or warrant exercises , future acquisitions or future placements of our securities for capital-raising or other business purposes . the issuance of additional securities , whether equity or debt , by us , or the possibility of such issuance , may cause the market price of our common stock to decline and existing stockholders may not agree with our financing plans or the terms of such financings . in addition , we may incur substantial costs in pursuing future capital financing , including investment banking fees , legal fees , accounting fees , securities law compliance fees , printing and distribution expenses and other costs . we may also be required to recognize non-cash expenses in connection with certain securities we issue , such as convertible notes and warrants , which may adversely impact our financial condition . furthermore , any additional debt or equity financing that we may need may not be available on terms favorable to us , or at all . if we are unable to obtain such additional financing on a timely basis , we may have to curtail our development activities and growth plans and or be forced to sell assets , perhaps on unfavorable terms , or we may have to cease our operations , which would have a material adverse effect on our business , results of operations and financial condition . recently issued accounting pronouncements certain recently issued accounting pronouncements are discussed in note 2 , significant accounting policies , to the consolidated financial statements included in “ item 8. financial statements and supplementary data ” of this annual report on form 10-k. off-balance sheet arrangements we have not entered into any transactions with unconsolidated entities in which we have financial guarantees , subordinated retained interests , derivative instruments or other contingent arrangements that expose us to material continuing risks , contingent liabilities or any other obligations under a variable interest in an unconsolidated entity that provides us with financing , liquidity , market risk or credit risk support . 39 application of critical accounting policies and estimates our management 's discussion and analysis of our financial condition and results of operations is based on our financial statements , which we have prepared in accordance with u.s. generally accepted accounting principles issued by the financial accounting standards board , or fasb . the preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported expenses during the reporting periods . actual results may differ from these estimates under different assumptions or conditions . while our significant accounting policies are more fully described in the notes to our financial statements appearing elsewhere in this annual report on form 10-k , we believe that the accounting policies discussed below are critical to our financial results and to the understanding of our past and future performance , as these policies relate to the more significant areas involving management 's estimates and assumptions . we consider an accounting estimate to be critical if : ( 1 ) it requires us to make assumptions because information was not available at the time or it included matters that were highly uncertain at the time we were making our estimate ; and ( 2 ) changes in the estimate could have a material impact on our financial condition or results of operations . revenue from contracts with customers the company implemented asc 606 , revenue from contract with customers . to recognize revenue under asc 606 , the company applies the following five steps : 1. identify the contract with a customer . a contract with a customer exists when the company enters into an enforceable contract with a customer and the company determines that collection of substantially all consideration for the services is probable . 2. identify the performance obligations in the contract . 3. determine the transaction price . the transaction price is determined based on the consideration to which the company will be entitled in exchange for providing the service to the customer . 4. allocate the transaction price to performance obligations in the contract . if a contract contains a single performance obligation , the entire transaction price is allocated to the single performance obligation . 5. recognize revenue when or as the company satisfies a performance obligation . when the company provides a service , revenue is recognized over the service term . the company 's revenue is derived from license cloud-enabled software subscriptions , associated software maintenance and support . revenue is recognized when a contract exists between the company and a customer ( business ) and upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services . the

