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Leases

6 Months Ended

Dec. 31, 2019

NOTE 3:- LEASES

The right-of-use asset and lease liability are initially measured at the present value of the lease payments, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company's incremental borrowing rate based on the information available at the date of adoption in determining the present value of the lease payments. The Company's incremental borrowing rate is estimated to approximate the interest rate on similar terms and payments and in economic environments where the leased asset is located.

The Company has various operating leases for office space and vehicles that expire through 2022. Below is a summary of our operating right-of-use assets and operating lease liabilities as of December 31, 2019:

	December 31, 2019 (Unaudited)
Operating right-of-use assets	$	1,484

Operating lease liabilities, current		(964	)
Operating lease liabilities long-term		(1,039	)
Total operating lease liabilities	$	2,003

The operating lease right-of-use assets are presented in long term assets net after elimination of deferred participation payments from Matam High-Tech and Business Park of $240 and $381 in current and long-term liabilities in the Company's consolidated balance sheets, respectively.

Minimum lease payments for our right of use assets over the remaining lease periods as of December 31, 2019 are as follows:

	December 31, 2019 (Unaudited)
2020	$	572
2021		1,092
2022		528
2023		1
Total undiscounted lease payments	$	2,193
Less: Interest		190
Present value of lease liabilities	$	2,003

The components of lease expense and supplemental cash flow information related to leases for the six months ended December 31, 2019 were as follows:

	Six months ended December 31, 2019 (Unaudited)
Components of lease expense
Operating lease cost	$	578
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities		576
Sublease income	$	25

As of December 31, 2019, the weighted average remaining lease term is 2.1 years, and the weighted average discount rate is 10 percent. The discount rate was determined based on the estimated collateralized borrowing rate of the Company, adjusted to the specific lease term and location of each lease.