LIABILITIES IN RESPECT OF GOVERNMENT GRANTS

6 Months Ended

Jun. 30, 2020

Disclosure of liabilities in respect of government grants [Abstract]

LIABILITIES IN RESPECT OF GOVERNMENT GRANTS

NOTE 5: -      LIABILITIES IN RESPECT OF GOVERNMENT GRANTS

	June 30, 2020			December 31, 2019
	Unaudited			Audited
Balance at January 1,	$	3,362		$	3,886
Grants received		175			493
Royalties paid		(11	)		(44	)
Binational Industrial Research and Development Foundation (“BIRD”) repayment		-			(546	)
Amounts recorded in profit or loss		50			(427	)
	$	3,576		$	3,362

The Company received research and development grants from the Israel Innovation Authority (“IIA”) and undertook to pay royalties of 3% of revenues derived from research and development projects that were financed by the IIA, of up to 100% of the grants received. As of June 30, 2020, the Company received grants amounting to $7,584 (including accrued interest), of which $3,442 were repaid to date.

The Company received research and development grants from BIRD amounting to $936 and undertook to pay royalties of 5% of revenues derived from research and development projects that were financed by BIRD or upon conclusion of product development. On April 1, 2019, the Company repaid $546 out of its current liabilities in respect of government grants. On July 22, 2019, the Company decided to withdraw from the project and notified BIRD, and therefore a liability in the amount of $410 was cancelled.