Leases

12 Months Ended

Dec. 31, 2019

Disclosure of leases [text block] [Abstract]

Disclosure of leases [text block]

NOTE 10 - LEASES:

a. Right-of-use assets

	Cost									Accumulated Depreciation
	Balance at the beginning		Additions during the		Deletions during the			Balance at the end of		Balance at the beginning		Additions during the		Deletions during the			Balance at the end of		Depreciated balance as of December 31,
	of the year		year		year			the year		of the year		year		year			the year		2019		2018
	USD in thousands									USD in thousands									USD in thousands
Property		-		121		-			121		-		22		-			22		99		-
Motor vehicles		39		53		(16	)		76		-		23		(1	)		22		54		-
		39		174		(16	)		197		-		45		(1	)		44		153		-

As of December 31, 2019, the weighted average remaining lease term for the Company’s leases was 1.46 years, and weighted-average discount rate was 10%.

b. Lease liabilities

	Balance at the beginning		Additions during the		Deletions during the			Interest expense during the		Payments during the			Balance at the end of
	of the year		year		year			year		year			the year
	USD in thousands
Property		-		121		-			2		(22	)		101
Motor vehicles		39		53		(15	)		3		(29	)		51
		39		174		(15	)		5		(51	)		152

Composition of lease liabilities:

	December 31, 2019
	USD in thousands
Current lease liabilities:
Property		97
Motor vehicles		22
		119
Non-current lease liabilities:
Property		4
Motor vehicles		29
		33

c. Additional disclosure:

1) The Group leases it’s headquarter facilities in Omer, Israel, with a total of approximately 807 gross square meters. In January 2019 the company signed the agreement until the end of 2019. In November 2019 the company extended the agreement until the end of 2020. The rental payments are linked to the Israeli CPI.

2) The Company also leases a CEO’s office. Payments under the lease commenced on June 2019, and the initial term of the lease will expire in June 2020. The Company has options to extend the lease contract periods for up to two years (including the original lease periods). The extension option includes an increase of the lease payment of 5%. The monthly lease fee is NIS 4 thousand (approximately USD 1.1 thousands).

3) The Company has entered into operating lease agreements in connection with a number of vehicles. The lease periods are generally for three years.

4) In 2018 and 2017 rent expenses in amounts of USD 128 thousands and USD 157 thousands respectively were recorded according to the previous accounting policy under IAS 17.

d) As of December 31, 2019, minimum future rental payments under the leases were:

Year	Property		Motor vehicles		Total
2020		101		28		129
2021		6		20		26
2022		-		14		14
		107		62		169

As of December 31, 2018, minimum future rental payments under the leases were:

Year	Property		Motor vehicles		Total
2019		80		30		110
2020				9		9
		80		39		119