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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 4,302 $ 9,296
Trade receivables (net of allowances for credit losses of $118 and $201 as of December 31, 2021 and 2020, respectively) 799 960
Deferred commissions 982 980
Prepaid expenses and other receivables 1,241 779
Total current assets 7,324 12,015
LONG-TERM ASSETS:    
Long-term deferred commissions 933 1,125
Long-term lease deposits and prepaids 809 937
Operating lease right-of-use assets 9,280 10,900
Severance pay fund 921 745
Property and equipment, net 2,183 3,948
Intangible assets, net 4,304 7,797
Goodwill 20,374 21,476
Total long-term assets 38,804 46,928
Total assets 46,128 58,943
CURRENT LIABILITIES:    
Trade payables 1,075 799
Convertible notes (related party) 10,000
Employees and payroll accruals 4,414 3,813
Accrued expenses and other liabilities ($4 and $37 attributable to related parties, respectively) 955 1,420
Operating lease liabilities 1,618 1,983
Deferred revenues 4,644 6,934
Total current liabilities 12,706 24,949
LONG-TERM LIABILITIES:    
Deferred revenues 485 644
Convertible Debentures ($238 and $234 attributable to related parties) 8,578 9,248
Long-term operating lease liabilities 8,624 9,866
Deferred tax liability, net 407 655
Accrued severance pay 983 838
Other liabilities 517 706
Total long-term liabilities 19,594 21,957
COMMITMENTS AND CONTINGENCIES (Note 6)
SHAREHOLDERS’ EQUITY:    
Ordinary shares nominal value ILS 3.00 par value; Authorized: 80,000,000 and 5,500,000 shares as of December 31, 2021 and 2020; Issued and Outstanding: 4,532,943 and 3,063,596 shares as of December 31, 2021 and 2020, respectively 3,759 2,392
Additional paid-in capital 283,577 258,962
Accumulated other comprehensive loss (1,877) (725)
Accumulated deficit (271,631) (248,592)
Total shareholders’ equity 13,828 12,037
Total liabilities and shareholders’ equity $ 46,128 $ 58,943